SEE HERE The bigger question about the downgrade of U.S. credit by Standard and Poors, is why the other rating agencies have not downgraded. It's rather obvious and has been for some time that the United States is painting itself into a corner from which there is no escape. When the overblown debt meets the inflating dollar and increasing interest rates and the loss of the position as reserve currency for the world then the bottom looks to fall out without any obvious recovery path. Beating up S&P for telling the truth is like blaming the doctor for a cancer diagnosis. The disease has been evident for a long time and the cure has been postponed by borrowing, but it's time for some tough love if we are to save our freedom and our solvency.
Tuesday, August 9, 2011
The Bigger Question ...
SEE HERE The bigger question about the downgrade of U.S. credit by Standard and Poors, is why the other rating agencies have not downgraded. It's rather obvious and has been for some time that the United States is painting itself into a corner from which there is no escape. When the overblown debt meets the inflating dollar and increasing interest rates and the loss of the position as reserve currency for the world then the bottom looks to fall out without any obvious recovery path. Beating up S&P for telling the truth is like blaming the doctor for a cancer diagnosis. The disease has been evident for a long time and the cure has been postponed by borrowing, but it's time for some tough love if we are to save our freedom and our solvency.
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