Wednesday, August 10, 2011

Its Doom I tell you Doom!

I just had to make a few comments about the latest global economic burp that started when Standard and Poor’s dropped US the credit rating to AA+ from AAA.

Wake the fuck up!!

This is the same credit ratings agency that told everyone that sub-prime mortgages were a good investment, AIG was as solid as a rock and Lehmann Brothers, well Lehmann Brothers is a bulwark of Wall Street and we can trust them…honest…and we all know how well that went once the dominos started to fall.

Nothing’s changed. Not really.

Does anyone really think that the United States is not going to pay its bills?

Does anyone really think that the economy of Greece and the economy of the USA are in the same situation?

I mean how do you call in the receivers on a country that’s got more guns, planes, boats, aircraft carriers and nuclear weapons than anyone else? You’d have to be a pretty brave accountant to make that house call and which bankruptcy court would have jurisdiction?

This is just another case of Wall Street wunderkinder showing that their idea of long term investment strategy is “how much money can we make in the next 30 minutes?” after getting their market guidance from a ‘fair and balanced’ Fox News financial report.

The only thing this has been good for is taking attention away from News Corporation and their woes.

Rupert wouldn’t have…nahhh…that’s as preposterous as a news organisation being involved in…oh...

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