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And we should listen to Moody’s why?

From an AP report today:

A credit rating agency is warning the U.S. government that it could lose its sterling debt rating if Congress and the Obama administration don’t reach an agreement to raise the nation’s borrowing limit.

Moody’s Investors Service said Thursday that if the parties fail to make progress soon, it would put the U.S. rating under review for a possible downgrade. That’s because there’s a “very small but rising risk” that the government will default on its debts.

These are the same people who rated AAA the toxic CDS crap that took down the economy? The “Triple-A-Factory” as the Financial Crisis Inquiry Commission labelled them?

Give me a break. Also tell me that this isn’t so much as “reporting politics” as “shaping politics”. This threat, and I do mean threat, is completely political. The danger to the US, as I see it, is not from default, but from Moody’s making a calculated move to shape political outcomes.

Really, a “very small but rising risk”? If US defaults the whole freekin’ planet goes down. China won’t let it happen. Europe won’t let it happen. No one will let it happen.

Remember, “When you owe $100,000, the bank owns you. When you owe $100 million, you own the bank”. Well, when you owe $14.2 trillion, you own the whole fucking planet.


I should note that even if somehow Moody’s is right, there is one easy way out of this:

Fucking tax us and get it over with.

This false “crisis” bores the hell out of me. Tax us and shut up about it.

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