WE KNOW THE AMERICA IS A DEFICIT SPENDER.WE KNOW THAT SHE HAS AND STILL ACCUMULATING MASSIVE DEBT.BUT WHAT SOME MIGHT NOT KNOW IS THE U.S. IS ON CREDIT RATING DOWNGRADE WATCH.
IF YOU ASK ME THEY SHOULD’VE ALREADY BEEN DOWNGRADED LOWER THAN A BOWED LEGGED CATAPILLAR.IF THE U.S. WAS JUDGED BY THE SAME STANDARD OTHER NATIONS ARE,SHE SHOULD HAVE LOST THAT “AAA” CREDIT RATING IN THE EIGHTIES,BUT THEY WEREN’T AND THAT ENCOURAGED MORE LAWLESS IRRESPONSIBLE SPENDING ON WEAPONS OF WAR(WHICH STILL HAVEN’T MADE HER SAFER BECAUSE IF THE WOULD HAVE WAR AND BRIBERY WOULD NOT BE NEEDED), SPENDING ON COPORATE GREED,SPENDING ON MEDIA CONTROL,SPENDING ON PHSY-OPS TO DESTABLE NATIONS SHE COULD NOT CORUPT OR NATIONS SHE PERCEIVED AS HER RIVAL…
ALL THIS WAS DONE AND IS STILL BEING DONE WITH HER IRRESPONSIBLE DEFICIT BORROW AND SPEND ATTITUDE.JUST LOOK AT THE WAR BUDGET(THEY SPLIT WORDS CALLING IT DEFENSE BUT NOTHING IN THAT BUDGET IS FOR DEFENSE.IT IS ALL OFFENSIVE WEAPONS AND “WAR”PLANES) JUST PASSED BUY THE HOUSE(OF LOBBIEST)REPRESENTATIVES…$636BILLION!THAT’S RIGHT 636BILLION WHILE CITIES ARE CUTTING SERVICES,STATES ARE RUNNING OUT OF GRANT MONEY AND UNEMPLOYMENT BENEFITS,AND THE NATION GOES TO ASK NATIONS(SOME OF WHOM SHE HATES) TO FUND THIS ILLOGICAL SPENDING.AND THINK ABOUT THIS,THIS DOES NOT EVEN REPRESENT THE HIDDEN BUDGET OF A FEW MORE HUNDRED BILLION MAKINGIT OVER A TRILLION DOLLARS.
AMERICA IS DOOMED.THERE IS NO WAY AROUND THIS FACT AND THE TRUE AND LIVING GOD HAS HER LEADERS CONFUSED BECAUSE THEY ARE CORRUPT TO THE VERY CORE OF THEIR BEINGS…SO INCASE YOU MISSED THIS READ IT HERE;————-“Debt
April 10, 2009
The Whole Kit and Kaboodle
Following the revelations of the past two years, there’s no doubt that the credibility of the big credit rating agencies leaves much to be desired. Even so, the fact that one of the majors has put every single municipal bond on credit watch, as Clusterstock reports in “Moody’s Downgrades The Whole Country,” is a development worth noting.
The Federal government is still AAA, but every municipal debt issuer is now suspect and shaky according to Moody’s.
For the first time ever, the ratings agency placed all munis on negative outlook, a precursor to potential downgrades. Historically, the agency looked at munis individually and considered them to be too diverse to make blanket statements about.
But it seems overspending and the hollowing out of the revenue base is a nationwide phenomenon affecting cities and states everywhere.
And of course the US government is affected by those same phenomenon — we think the government’s revenue expectations remain wildly optimistic, given the slowdown and the collapsing of the income gap — but alas the Fed still has the printing press and should be able to hold onto its AAA rating for awhile longer.
Meanwhile, New York actually managed to float a bond at a 5.55% interest rate and a 2036 maturity. Who’d have guessed?
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More on this topic (What’s this?)
Gross vs. Geithner on the U.S. credit rating (The Mess That Greenspan Made, 5/22/09)
Prechter: U.S. to Lose AAA Rating (Wealth Daily, 6/16/09)
Warren Buffet’s Berkshire Downgraded as AAA Credit Rating Lost (Saving to Invest, 4/8/09)
Read more on Credit Ratings Agencies at Wikinvest
Posted by Michael Panzner on April 10, 2009 at 08:41 PM in Debt | Permalink | Comments (2) | TrackBack (0)
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