Gadfly
Lv 6
Gadfly asked in Politics & GovernmentPolitics · 8 years ago

Is S&P's downgrade of our credit rating analogs to the child who told the emperor he had no clothes?

For some reason this question was reported. Since there were so many excellent responses last time I thought I should repost it.

Do you think S&P should be attacked or respected for their integrity?

Do you think the Tea Party and the GOP should be vilified for pointing out the obvious?

http://en.wikipedia.org/wiki/The_Emperor's_New_Clo...

7 Answers

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  • Anonymous
    8 years ago
    Best answer

    Lets break this down. What happens now. Come Monday morning EST. The DOW

    will go into convulsive shock. You could see 800 to a 1000 point drop. With more to

    follow the rest of the week. Now is this a correction. Very well could be. Since Obama

    took office we have had nothing but a Clintoon type of smoke and mirrors economy.

    False reporting figures are what Obamas people are really good at. They can make

    white look black and black look just plain white.

    Blame, go ahead and point a finger, But when you do that sucker had better be on

    a 360 degree swivel. For we are all responsible for this. Not one person. Not one

    Party, The whole damn nation. Personal irresponsibility in debt management caused

    our elected officials to take up the same posture, The Alfred E Neuman approach

    what me worry, Well it is damn sure time to pucker up now. For Interest rates will

    rise 6 points come monday. and for the next week period could be 12 points.

    Bernacke left his rate artifically low for to long, causing this fning meltdown. He

    is as directly responsible as anyone else for this failure. Stand Naked to the World

    America you screwed up.

  • 8 years ago

    I reckon your explanation is about right.

    Not only the US government but the general population as well must come to realize very soon that they cannot live off a credit card forever. Eventually that credit card will be taken away by the foreign lenders, cut to pieces and thrown away.

    In other words both the government and the people are to blame.

    Time to tighten your belts and stop spending money you don't have like a drunken sailor :-)

    PS I think you are spending too much time with tea parties. Time for you to go back to coffee...maybe smelling that will wake you up.

    PPS I'm Swiss :)

  • bobby
    Lv 6
    8 years ago

    It was the GOP and the Tea Party that saw the reckless spending, mounting debt and deficit caused by the democrat backed Obummer who wants to continue spending us into bankruptcy. Every offer presented by the GOP to cut, cap and balance was killed by the senate democrats, and I mean every single effort to stop this reckless spending was killed by democrats. The latest deal was nothing more than a bill the GOP offered, some of the wording was changed by Harry (worthless) Reid, and then said "WE HAVE A DEAL". The GOP in my opinion did not stand firm enough to put Obummer in a position to hold him accountable, and I am pretty disappointed about that.

  • Yogi
    Lv 4
    8 years ago

    The Tea Party was the only group who saw the obvious, 14.5 Trillion in Debt is bad, 30 Trillion in Debt like Obama wanted REALLY BAD ... 23 Trillion in Debt we got, still really bad.

    I mean duhh? Higher Debt is what some idiots are saying we need? How flipping stupid can some people get? In danger of downgrade, so bring on more debt! ... STUPID! They don't see the No Clothes

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  • Anonymous
    8 years ago

    The tea party/GOP didn't point out anything but their own ignorance. It was clear that the deal needed revenues.

    What has the Republican Party and the Tea Party done so far??

    1) NO JOBS BILLS

    2) Washington has become even MORE dysfunctional(I didn't think that was possible)

    3) Unemployment has only gone up

    4) Massive stock market crash

    5) Credit rating down graded

    6) Job loss has skyrocketed

  • Anonymous
    8 years ago

    No. It is analogous to the disastrous GOP teabagger debt plan that caused the loss of our AAA credit rating.

    Source(s): Common sense.
  • Anonymous
    8 years ago

    A sorry repeat........program. Watching.

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