You know what’s crazy? I’ll tell you what’s crazy.™
The USA’s credit rating getting downgraded to fish chum.
This is the United Freaking States of America. And our credit rating gets put in the dumper?
That’s the fact Jack! For the first time in a century, the U.S. does not have a AAA credit rating.
That’s huge. It’s a seismic shift on the economic landscape.
And it could affect every single American. Crap it could affect every single person on this planet the way the world is now interconnected like a jungle vine winding through the canopy of credit chaos.
We’re talking hikes in your home mortgage and your credit cards.
Standard and Poor’s credit rating agency does not apologize. A high ranking official for this so called gold standard of finance
says; “our job is to hold the mirror up to nature and we are telling investors the U.S. government is slightly less credit worthy.”
Slightly less really means slightly more.
Is that like telling your girl friend you only slightly have an STD. Perception is reality and “Slightly” can get you killed.
Standard and Poor’s has essentially said the American political machine is broken. That’s Crazy told you that last week. The system is broken and when political fools gambled with our debt to the 11th hour, Standard and Poor’s took notice.
So now our credit rating is Slightly less than France, Canada and the economic powerhouse: Isle of Man.
Don’t you think Gordon Gecko when someone mentions the Isle of Man?
And here’s where the story gets really crazy.
China has weighed in on the issue. As you know China is the biggest holder of U.S. debt in the world. They own us like Bank of America owns your house. You live in your house but the bank owns it. We live in this country but China holds the deed.
The USA is China’s financial bitch.
And leaders in the Red Giant went on a Blistering tirade when our credit rating got regurgitated.
Chinese officials released this statement: “The U.S. must cure its addiction to debts and live within its means. China is calling for cuts to the U.S. gigantic military expenditure and “bloated social welfare programs.”
Wow. China sounds a lot like the Tea Party.
I guess whether you like Tea in the USA or in Beijing, the green of finance is still a consistent.
So what I said last week I’ll say again.
Run the country like you run your house. If you can’t afford it, don’t buy it. Pay down your debts and live within your means. If you can’t raise your debt limit at home you shouldn’t be able to do it just because you have the power to print money.
Now excuse me while I ask the Isle of Man for a loan.
And that is crazy.™