Maybe I understand what’s happening with our debt rating and maybe I don’t. It kind of sounds to me as though Standard & Poor’s, which I believe has benefited from our assistance in the not too distant past, has decided that we should now pay more interest on the money that others loan to us. To me this sounds manufactured; somewhat like the credit-worthiness of the derivatives that – at least in part – precipitated the recent financial meltdown. I kind of feel like the wizards on Wall Street are jacking us around more than a little bit.
I’ve had this feeling of a disconnect for awhile now. When jobs are too plentiful the markets are down. When jobs are too scarce markets are up. Wall Street and I are looking at the same thing from two completely different perspectives and reaching opposite conclusions. Of course, now that corporations are not only people, but people who can clandestinely pour a crapload of money over their favorite politicians, their conclusions count for more than those of mere voters.
My “favorite” aphorism from Wall Street is that the continuing recession is largely our fault because we (consumers) aren’t spending more. Many of us have no job and assistance is being cut left and right and debt is a huge issue, but we’re supposed to spend our way out of the recession. Seriously, are you kidding me? And now you want more vig for loaning the government the money to buy your cheaply (not inexpensively) made crap?
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I am concerned for the republic, and for the world my grandson will grow up in.
P.S. I said earlier that the aim of the neo-conservative/neo-fascist movement was to erase everything after the Coolidge Administration. It was, of course, Coolidge who said in 1925 that “the chief business of the American people is Business.” He was wrong then, and they are wrong now.
Amen!!!! As always, you make perfect sense!!!!
This says it all:
“…. I kind of feel like the wizards on Wall Street are jacking us around more than a little bit.”
Unfortunately, this has been going on for awhile, will continue increasingly, and too many in Congress and various government departments, Administrations, are facilitating it — some knowingly, others misguidedly though sincerely motivated and some unwittingly.