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In my opinion this black eye on America's reputation is solely the fault of the Teabaggers, and it is important that the media drive that point home over and over again, so that the voters know exactly WHO is unfit to serve in Congress.
I would also hope that recall petitions are being written, and that activists are preparing to head out to the streets to gather signatures first thing in the morning. In my opinion this is a situation which simply cannot be allowed to continue.
#heckuvajobteaparty
ReplyDelete"...solely the fault of the Teabaggers..."
ReplyDeleteWhy yes, I believe I did tweet that this morning. How about the rest of you?"
Check out Paul Krugman, if you haven't already:
ReplyDeletehttp://krugman.blogs.nytimes.com/2011/08/05/sp-and-the-usa/
"In short, S&P is just making stuff up — and after the mortgage debacle, they really don’t have that right.
So this is an outrage — not because America is A-OK, but because these people are in no position to pass judgment."
Who owns Standard & Poor? I see that McGraw-Hill is the nominal owner, and McGraw-Hill is publicly traded. So is there any way to know the ownership of McGraw-Hill?
ReplyDeleteI would like to know if this was a politically motivated act, in view of (1) the accounting error, (2) the political rationale (vs the economic rationale S&P gave first, until the $3 trillion accounting error was brought up), and (3) the timing of announcing it late on a Friday.
Could someone help us understand this?
From what the people like Lea Burton have been saying regarding the Dominionist takeover of America, this is just par for the course. This is the first step in weakening America enough so that our citizens decide to become part of the "program" and find "god" and eschew education. Government is "bad" but it will fix what ails you as long as you walk in lockstep with the theocracy. The "rich people" will show you how to do it, once you hit financial rock bottom. They will throw you little bits of sustenance, as long as you behave and vote the way they want you to.
ReplyDeleteNone of the oligarchy of America will suffer from this downgrade or the collapse of the world markets. They will be the saviours of the downtrodden and they will forever be beholden to them.
Wallstreet 8:05
Off topic- http://www.msnbc.msn.com/id/44041546/ns/politics-the_new_york_times/t/fox-news-site-calls-obama-party-hip-hop-bbq/
ReplyDeleteI don't believe it's solely the fault of the Teabaggers. The rest of the Republican Party played their role as well, holding the line against new revenue (taxes) as if it were a knife at their mothers' throats. In addition, the Democrats acted like craven whipped dogs except when it came to the entitlement programs..... and guess what, you could actually make Medicare/Medicaid cuts without killing anyone!
ReplyDeleteI wish we had elected grownups to Congress. The only one acting like a grownup is Obama.
S&P played a large role is causing the economic disaster by rating junk mortgage portfolios as AAA - and reaped HUGE financial benefits with no consequences for their crimes against the American people. Oh, and also the people around the world who bought their lying trash. Despite its attempt to trash the US some more, US Treasury bonds are still trading very well.
ReplyDeleteI think our country is in a world of hurt for years to come, but S&P's latest manipulation attempt isn't worth spitting on. It consists of liars and thieves, all of whom should STFU and report to the closest prison.
What this means to a edium size business.
ReplyDelete!08 US employees.
It means my headquarters and tax base will move to Canada, enabling a tax savings for our rotating credit ine an instant tax base for moving ang no longer hiring US employees to work, since Canadian employees equal an immediate savings of 12% on benefits.
Why would we do this? Our main focus is to have a prodcutive company to bulid our own retirement for our futurre,. This is direct thanks to the Tea Potty movement and the policies that they have pushed and caused. Bye , bye USA.
People are asking for a massive regime change in 2012, but the sad aspect of that is that even if we vote out all of the clowns in power, including the President, there will be others to take their place and suck at the corporate teat and vote in the corporate interest and not in the interest of the electorate. Citizens v. United put into play a new and more corrupt government that is not for the people and by the people. Don't expect any change until that supreme court ruling is overruled, a generation or so from now.
ReplyDeleteIt's what they wanted. It's like they max out their Mastercard and then switch to Visa and when that's maxed out they go to AmEx and when that's maxed out they go to Discover.... and they don't realize that at SOME point, they're going to have to pay it back. Teabaggers live in some alternate universe in which debts don't have to be paid.
ReplyDeleteI don't blame Standard and Poor. They can't trust teabaggers to pay debts, and they can't trust Americans to vote responsibly.
We are in seriously deep shit.
Anon 9:06 Much as I like the teabaggers getting bashed, that was my reaction. After Moody's and S&P did the banks bidding re: the mortgage crisis, they should have gone out of business. They might still when the law suits get settled. In any event, they should have no credibility.
ReplyDeleteI think Mitch McFukkinConnell should get a lot of the credit for this situation, after his typically stupid comment about how well acting like terrorists worked...and that the Republibaggers plan on doing that again and again.
ReplyDeleteI'd downgrade the status of any country with a butthole like that wielding so much power, too.
I think these people could care less about the recovery of our economy. They secretly hope for disaster on this front, because they want to blame it all on Obama come election time.
ReplyDeleteThat has been the Tea Party strategy all along. They are traitors. Or stupid and reckless. Or both.
They don't care about their country. They don't care about their fellow citizens. They care about getting that black man out of office.
As for S & P, same story.
Please stay with me - economic collapse vis a vis Sarah Palin...
ReplyDeleteI agree with 'wolfbitch' (9:08) that the Republicans are culpable along with the TeaTards. There is a "Billionaire's Club" whose members are demanding that their taxes be RAISED, but, "Oh, no, won't do that", say the Republicans.
In the last two days, I/we just lost the previous 12 months of earnings from what used to be my deceased father's investments squirrelled during his 82 years of working in aviation. And Monday ain't lookin' too good. I believe that this is a MANUFACTURED CRISIS, designed to benefit a select few.
At the moment, in my fury, I'm glaring at Rupert Murdoch and the Koch brothers, as the Tea Party's main sources of funds. As our country's now-downgraded credit rating was apparently justified, it was a "weakness at governing" which precipitated the historic (first ever) downgrade. TeaBagger influence, anyone?
That leads us to Sarah Palin. After all, Murdoch & the Kochs are her puppetmasters. She is (or was) the Tea Party's darling, and like it or not, she played a significant role in getting some of those braindead imbeciles into positions of voting power in the Congress.
Sarah Palin could have been stopped long ago.
As it was, global power-monger owner Murdoch paved her a golden pathway at Fox and Harper Collins (her 'books') - she was the most perfect vacuous and sexualized puppet in the world, pushing the Dominionist agenda as well.
How to stop her in late 2008? BABYGATE, for one. Who in 2008 was screaming from the rooftops about Babygate? Audrey, Regina, and GRYPHEN. And others like Bree Palin, Floyd Orr, Lit Brit, Next Chapter, Blade Catz, Patrick & Kathleen, Laura Novak and Brad Scharlott.
But WHO didn't do jack shit? WHO purposely thwarted Babygate and tipsily snickered at Netroots 2009, relegating a provable hoax to the realm of 'goofy theory'? You guessed it: the two female Alaskan bloggers who were slavering over their future bank accounts at the expense of their country. I hereby fiercely and proudly stand in agreement with Gryph's "F-You" rant of last weekend. Sarah Palin's influence was PREVENTABLE. Had those two mercenary bloggers joined forces with Gryphen in an Alaskan pregnancy-fraud juggernaut, Sarah would have long ago slunk off in international derision and ignominy.
As a commenter on another blog wondered, "When are you two going to come out of your hidey-holes?" Yup - I'd like to know, too, and lots of us are waiting. The treasonous and deadly crosshairs graphic would never have been displayed. Trying to game an election between Joe Miller, Lisa Murkowski, and Scott McAdams is one thing. Purposefully falling dead in ones tracks at the now-missed chance to alter global political and economic history is quite another. Willful subterfuge can have grave consequences.
Edit my previous comment: My recently deceased father worked 52 years in aviation & the Space Program. He died at age 82.
ReplyDeleteFuck S & P, and also fuck $arah Paylin for running her stupid mouth and encouraging the teaparty to screw the American economy even more.
ReplyDeleteOT Carrying forward a thread on Home Depot vs Lowe's
ReplyDeleteIt doesn't matter where you buy things if they're made by Koch Brothers Industries.
Here's a link to find out just what they do make.
http://www.treehugger.com/files/2011/03/boycott-koch-brothers-products-where-to-start.php
Wake up, sane America. The idiot baggers view this downgrade as a victory.
ReplyDeleteIn their retarded minds, if the US credit rating falls to the mythical "Z" level, we won't be able to borrow any money at all and the debt problem is solved.
But don't despair, fuckwads on the Right, American voters have a very short memory and a shorter attention span. By November, 2012, all the unnecessary and irreparable damage you've done to our nation will likely have been forgotten and you'll get to continue your destruction of America unimpeded, just like the Cock Brothers and Grover Norquist want you to.
In my opinion this black eye on America's reputation is solely the fault of the Teabaggers, and it is important that the media drive that point home over and over again, so that the voters know exactly WHO is unfit to serve in Congress.
ReplyDelete------------------------
Obviously you're an idiot.
S&P said they wanted to see something on the order of 4 trillion in cuts, which is way beyond what the tea baggers were asking for.
Anon 9:06, I'm with you on this one. To add credence to your assessment an interesting tidbit about well timely bid, courtesy of C&L article that takes you to http://www.marketoracle.co.uk/Article29477.html. FU Wallstreet.
ReplyDeleteStandard and Poor's trashes U.S? Aren't these the same dipshits that kept issuing triple A ratings to failing financial institutions until the truth could no longer be hidden? The real problem is Harold McGraw is unhappy with Barack Obama. Whatever...
ReplyDelete@ Heide3: Are you implying that Audrey, Regina and Bree were paid off to stop writing/blogging??
ReplyDelete@Cheryl 5:50 -
ReplyDeleteWhaaat? NO! I implied nothing of the sort. But, what we do know are these facts:
Regina is blogging away at Palingates, 2 times per day, and is as professional as always.
Audrey at Palins Deceptions was, in fact, forced to quit her groundbreaking blog due to overt threats when she came too close to the truth about Bristol's, shall we say, 'involvement'. Or at the very least, 'curiousities' regarding Bristol's shapeshifting.
Bree Palin stopped writing her blogposts of her own volition. She made a special point here at IM to state that in no way was she coerced to stop. It was strictly her own personal choice to do so.
Mitch mcconell should be booted out. Saying from the beginning he's been doing everything not for the good of the country but to make the pres a one time pres. They all wanted the economy to tank. Well they need to face the music for this. Sarah Palin Michelle Bockmann and all others that said that nothing would happen. Ecic Cantor is making money off of the bad economy. I was watchin msnbc yesterday this woman was telling about how lawmakers were meetin just down the street with this formed co by this right winger that is supported by all these other corp and they right laws to take away our freedoms. That is all they do, she mentione kraft and coke sit on the board of this Co. all the surpress the vote . We have to stop this if the lawmakers can't write bills what are they doing in Washington seems like they aren't doing their jobs. Who said corp are supposed to write bill ??? Another tidbit of info. Here in tn if you don't have a bank account they put your unemployment check on a debit card from Chase. On one person the fees was abt 6.00 for one month. Think how much these finacials are making off of unemployed ppl. There are lots of ppl here in Tn with no bank acct. is this happening across america? How was this let to happen?? They are screwing us over and over. They pay nothing and run us over and then back over us. I think we should m ake all lawmakers give up pensions healthcare and have of their salary then maybe they would do their jobs. How many times do we hear they vote on bill and havew never read them??? lots. Again why are corporations writing our laws????????
ReplyDeleteAh, but did GOP weasel Eric Cantor make money. If Congress hadn't raised the debt ceiling this fund ProShares Trust Ultrashort 20+ Year Treasury EFT would have paid him handsomely. This is more like placing a bet than a real investment.
ReplyDeleteSince he is such a clever sort, what other investment tools does he have that are incentive to make sure the U.S. does not have a clear and cohesive economic plan?
Oh that's right. He's a teabagger. Silly me! Furious me! Beautiful!
To Anon @ 3:48:
ReplyDeleteThe Democrats offered 4.7 trillion in cuts and the Republicans rejected it because the package included--GASP--revenue increases.
Which, by the way, S&P also wanted to see (specifically, the Bush tax cuts ended.)
So who are the idiots here?
Anonymous at 9:06 a.m. Go to Yahoo Finance, which has one of the clearest and easy to use stock functions.
ReplyDeleteOr follow this link: http://finance.yahoo.com/q?s=mhp&ql=1
Go down the left-side menu to Ownership. Click in and you will find some verrrrry interesting names, one in particular is pronounced COKE, but spelled Koch.
It is probably worth some finger-clinkin' time online to see how many of the names on these lists are linked to the Koch (Coke to be polite) brothers.
It's not just the fault of the teabaggers. It's the fault of the morons who voted them into office. It's the fault of the chickenshit mainstream republicans who cater to them. And it's especially the fault of our weak president who is so desperate to appear bipartisan and democrats who are as much in the back pocket of the Koch bros. as teabaggers themselves, to stand up to these losers.
ReplyDeleteThe teabaggers are doing exactly what they were organized to do. Is it their fault that they have been so wildly successful at it? So where has the political opposition been? Nowhere, that's where.
IMO, it's more the fault of every other part of our lobbyist-poisoned political system that allowed baggers to rise to the top, instead of calling them out and exposing them to the rest of America for what they are. And it's also the part of the MSM for making them such big news.
It's time to take back America for the people -not corporations. They don't want to make jobs for us. They want to send jobs to other countries. They aren't coming off the money they are sitting on. I'm sure they will make another crisis and expect us to bail them out, AGAIN. Finacials are pushing to max ppl out, which you know is bad noadays, no jobs security. Let their friends bail them out. Apple has more money than the us gov. They don't want to educate or job train Americans, but want to cry- like microsoft and get cheap labor from other countries to come here. I think we need to add up all the cost of the teabaggers and republicans pushing their extream governing no acting on stumlis money or projects for their states, and voter supression and the likes.
ReplyDeleteFucking teabaggers & rethugs, they screwed the whole country for the Koch Brothers and the wealthy.
ReplyDeleteAnon 5:12 AM -- Yes I saw that too. We all know that a good money-minder can make a profit on the way down and the way up, if he knows in advance. Via futures. My guess is that the good ole boy fat cats all knew this would happen -- orchestrated it, in fact, via the TParty idiots they maneuvered into office -- and one of them jumped the gun a little.
ReplyDeleteSo Martha Stewart got 6 mo for lying about a $50K insider trading problem, and these guys steal gazillions, get off free, and get stimulus money on top of it. Sucks to be poor. Even as "poor" as Martha Stewart.
Chennagrll -- thank you for that very interesting link. But I'm afraid it gets too complicated too fast for me. Under "Ownership" you see that mutual funds own McGraw-Hill stock, mostly, and then you try to see who owns the mutual funds, it gets too complicated. Just as I bet it is supposed to. Shell game. These fat cats have been at it for years, while the rest of us were watching TV news and pissing away our time by going to work each day. No wonder they are winning.
ReplyDeleteYes, the teabaggers first and foremost. They're all clamoring to get on all the shows, making this all the black man in the white house's fault alone and using it for political points.
ReplyDeleteIt's also the republican party as a whole's fault. They knew these asswads were hellbent on fucking things up, and did very little, if nothing to educate them on how compromise works.
This is going to affect everyone negatively, at a time when finances and jobs are held hostage by the millionaires who take their tax breaks, loopholes, and kickbacks to fatten their wallets. They're not hiring on purpose. This is wholey a made up crisis to try to take Obama down.
And a huge "FU" to the q tip who posted at 3:48 am. The democrats offered MORE than that in cuts while putting medicare and medicaid on the table, and were REFUSED by the Republicans.
Who's the idiot you're obviously referring to?