So let me get this straight, they made a FUCKINGTWOTRILLIONDOLLAR error in their calculations, yet said “fuck it, we’re going in anyway” with a credit downgrade of the United States? Their main reasoning is political instability? Well, fuck you very much S&P. Would you prefer we have a dictatorship or authoritarian regime like China or Venezuela?
While it’s true our Congressmen acted like fucking morons, they still got the job done by the deadline. This is the same company who rubber stamped all of the CDO’s AAA, leading up to and causing the credit crisis. An argument can be made that the ratings agencies were key actors in bringing down the U.S. economy. Don’t tell me they didn’t know what they were doing. Now, after they helped cause joblessness, fuckery and pain, they downgrade US.
Excuse me for sounding cynical, but they should be held accountable for their errors and for stripping us of our AAA rating.
While you might say “well, Fly, we’re spending too much and we borrow too much. We don’t deserve AAA.” We do, AND MORE.
Look you, we print our own money and owe nothing in other currencies. Theoretically, we could print a few trilly tomorrow, buy China’s treasury holdings from them, then tell them to fuck off. As long as we are the reserve currency of the world and have the ability to create more dollars, our credit rating cannot be negotiated. It is AAA, or whatever the fuck you want to label it. How about A1, like the steak sauce?
The ripple effects might spook people a little, as the cock-gobblers from S&P start downgrading U.S. munis and agencies who rely on the government.
All in all, in my opinion, it is a NON-EVENT.
The real story is still in Europe. Don’t let this downgrade shit distract you. The ECB needs to start monetizing their debt now, else world markets will continue to slide. Providing a deal is announced by Sunday, I expect a patriotic “fuck you S&P” rally on Monday.
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