Posted by Jed on August 06, 2011 at 16:47:09:
In Reply to: Re: book re the S and P downgrade of the US posted by OL on August 06, 2011 at 15:04:57:
: Yep, it looks like the Republicans are having great success with their strategy of destroying the US economy in time for next year's election.
Looks like you are right. Those Republicans are a lot more clever than we gave them credit for. In their downgrade, the S&P specifically mentioned the roadblocking in congress as the main reason for the downgrade. They said as long as "some politicians" roadblock taxing the rich and the big corporations, there will never be a solution to the US economic problems.
: : I don't think the public has as yet realized how significant the S&P downgrade of the US is. The US dollar has long been the stable currency that most of the countries of the world hold (by buying US bonds). That goes a long way toward keeping the US economy rolling because it means the US can print as much money as it needs.