So today S&P downgraded the credit ratings of Freddie Mac and Fannie Mae, the mortgage giants which were taken over by the feds in 2008 after the mortgage disaster/scandal/swindling-of-American-homeowners-and-investors in which S&P was a co-conspirator. I realize some people are going to have a big problem with me describing S&P as a “co-conspirator” but hey, facts are facts: look it up.
Posts tagged ‘debt ceiling’
WTF S&P? Shock Doctrine? Inside Job? Both?
by Downtowner, posted on Monday, August 8th, 2011 at 12:48 pmTags: 2008 mortgage securities collapse, Barack Obama, debt ceiling, economy, housing bubble, Inside Job, S&P, Shock Doctrine, Tea Party, U. S. Congress
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SO Glad We’ve Solved Our Economic Crisis
by Downtowner, posted on Wednesday, August 3rd, 2011 at 12:26 pmReally, I can’t thank those Tea Partiers enough for making all the right moves to ensure that we continue to push the Great Recession well along the way toward becoming the Greatest Depression.
Today we’ve learned that in the wake of the Debt Ceiling Deal of Doom being signed, sealed and delivered, the stock market continues an alarming slide and the Chinese have downgraded our credit rating. A special shout out to Enabler in Chief Barack Obama, for his exquisitly choreographed moves in response to the Economic Terrorists in Congress. But I want to reserve my most special shout out of all for local Illinois Economic Terrorists Randy Hultgren and Joe Walsh, because it’s just not easy for two freshmen congresscritters-turned-economic-terrorists to accomplish so much in such a short time. Helluva Job!
Damn. I just used the “j” word didn’t I? Sorry, so sorry. Forgot. We are all supposed to be pretending that there is no problem with one in ten Americans being unemployed by obsessively focusing on a deficit that could be much better handled if we just worked on getting them jobs. Damn. Did it again didn’t I?
Well, will just have to hope that Congress is so busy right now that they failed to notice someone worried about jobs. I think it’s more likely than not.
Tags: Barack Obama, Chinese, CNN, debt ceiling, depression, Economic Terrorists, economy, FAA, Great Recession, Greatest Depression, IL-14, Illinois, Illinois Economic Terrorists, jobs, Joe Walsh, kabuki, Matt Taibbi, Randy Hultgren, recession, stock market, Tea Party, U. S. credit rating, unemployment
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Loyal to a Fault
by n0madic, posted on Monday, July 18th, 2011 at 7:35 amLike a lot of progressives, I’ve been troubled by the President’s response to the debt ceiling crisis which Republicans in Congress have been engineering lately. I’m not a deficit hawk. I believe we need more social investment, not less. So, as far as I’m concerned, both sides of this negotiation are on the wrong side of the debate.
And it’s not just that allowing the debate to narrow in this manner leads us to bad policy choices. It’s also bad politics.
Having the nominal leader of the Democratic Party himself opening the door to the possibility of Medicare cuts, even if it’s just some sort of negotiating ploy, undercuts the efficacy of a key campaign message that Democrats need to be able to run on in 2012: opposition to the desire of Paul Ryan and the Republicans to cut Medicare.So, when the Progressive Change Campaign Committee began circulating a petition that it hoped would stiffen Obama’s spine in these negotiations, I signed on. And I posted a link to it on my Facebook wall as well, hoping that others of a like mind would sign the pledge, too.
Tags: 2012 elections, Barack Obama, debt ceiling, deficit, Democrats, IL-03, IL-11, Illinois, John Atkinson, Lawrence O'Donnell, legislation, Medicare, Progressive Change Campaign Committee, Social security, strategy and tactics
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