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comment by mk
mk  ·  4615 days ago  ·  link  ·    ·  parent  ·  post: The captain has turned on the Fasten Your Seatbelts Sign ..
I do wonder about the motivations of S&P. However, if their goal is to hurt Obama, I'm not sure that they've got the timing right. It seems likely that the Tea Party's brinksmanship could take a lot of the blame for this. Americans are warming up to revenue increases, particularly on the wealthy. I almost wonder if Obama didn't let the Bush tax cut extension on the $250k earners slide to 2012 so that he could campaign on it.

That said, playing chicken with the debt-ceiling is probably as good a reason for a down-grade if any. Not that S&P has a good track record.

At any rate, I plan to buy some stocks today. Emotional drops in the market are a gift.





alpha0  ·  4615 days ago  ·  link  ·  
> S&P ... Obama ... playing chicken ...

Political theatre, in my book. The goal is to take down the "hyper-power" by a notch or two and re-order the "international community". This is just for our entertainment. The writing is on the wall: USA is to be hyper-power no more.

For example, that threatened lowering of the "the only democracy" in the middle east is designed to push them to choose the war option.

S&P had no ["French" deleted] issues with fiscal responsibility when handing out AAA ratings to WallStreet junk:

http://www.bloomberg.com/news/2011-04-13/moody-s-s-p-caved-t...

But they go ahead and actually lower the rating of the global reserve currency and USA. Same USA that bailed out the sorry asses of the AAA rated junksters.

There is a saying in Persian: "If there is a donkey around, someone is sure to ride it".

http://www.nytimes.com/1999/02/05/news/05iht-france.t_0.html

/adieu/