Interesting couple of days. S&P -- that's Standard & Poor, which is an agency that rates financial instruments, like stocks, bonds, and debt -- didn't actually lower the US's debt rating, but changed it from "stable" to "negative."
Like, if you go to any of the online stock reporting sites -- Yahoo has a free one -- you can look up just about stock and get a rating from S&P or three or four organizations and analysts. It should be rated by stars, or at least as "stable" -- meaning, basically pretty reliable and steady -- or "positive" indicating growth, buy this one! -- or "negative," meaning there's probably internal troubles that will impede the stock/bond/debt to pay off an an investment.
So the US still has a three-star rating, which is pretty good, but with "negative" prospects.
Yeah, really. That's what we've been saying since the socialist won the White House.
The negative thing means that S&P has its doubts about the US being able to pay off its debt. The rating is, at the very least, a warning to lenders: "Back off. This isn't looking good." S&P apparently also announced that the negative rating was due to our government's pronounced inability to control its spending and its unwillingness to adopt a comprehensive plan to organize its financial affairs.
And some more good news today. Apparently the US plans to sell off its holdings in GM, Government Motors. On TV, they said that if the shares sell at current market value, the US will lose $12 BILLION from what the US paid for them.
Didn't the Comrade announce the GM deal as this glorious, sure-fire way for the US to be rollin' in dough? Just as soon as GM recovered.
GM hasn't really recovered. In addition, apparently the Comrade forgot all about the US stake in GM when he shut down oil drilling in the Gulf of Mexico, and refuses to do anything with the sorry-ass EPA or any other of the official tree-huggers in terms of allowing oil drilling anywhere else in the USA.
However, the Comrade gave Brazil $2 BILLION, and now Columbia $3 BILLION to develop their own oil industries. Then apparently we can buy the oil from them.
Or, maybe the Comrade is just hoping to build some good will with these dictatorial/socialist nations, feathering a nest for himself down there, so when gets run out of the USA, unlike Kadaffy, the Comrade will have someplace else to go.
At any rate, GM's most profitable products were the big trucks and SUVs that use lots and lots of fuel.
So Comrade Butthead, in all his elfin green glory, forget about the GM bailout and has shot the USA in the foot --- ONCE AGAIN.
This man is a perfect idiot.
The one thing he seems to understand is how to campaign.
He's already straying happily from the Oval Office to preach to the underaged about the glories of his socialist regime, in hopes of generating some support.Think that will work for him? I don't.
And that's enough for now.
Save the Republic.
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