iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,500 Blog Posts

MARKETS COLLAPSE AFTER FITCH DOWNGRADES US CREDIT RATING

I remember the last time this happened like it was yesterday, back in 2011. How dare they remove the US AAA credit rating, when in fact all we do is exhibit irresponsible finance.

Take for example now. We’ve deficit spent to our heart’s delight for decades upon decades, but really ramping it up with vigor since 9/11 and then the grande finale, mother of all grift, COVID-19.

We now have $32T in debt and because we caused inflation and had to raise rates like lunatics to prevent societal collapse, we now pay close to $1T per annum in interest.

Look here Jack, the civilization that was made here by migrant Europeans for the past 200 years is fast coming to an end. We are actually heading into reverse, led by people who couldn’t manage a village during pre historic times. Do you understand the ramifications of this sort of collapse?

Nothing is what is was and it can never get back to the way it should be — because America has been destroyed from the inside out — hollowed out like a tree to ride as a nice canoe and will never again grow leaves or new branches.

What we have here now was created by previous generations and although we of course still have brilliant minds to sustain balance — those people will soon be overwhelmed by the leftist plague that is intent on disintegrating the country, just like all of the major cities they’ve imploded over the past 50 years.

In regards to the credit downgrade specifically, it means little since all western nations are traveling at the same speed. The much larger issue is the actual debt, tax burdens, and eventual banking system failure that will come in our lifetime.

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3 comments

  1. flea

    We can solve this thing but it will take the same national commitment that got us to the moon. There are enough smart people left to do it.

    However, there are just too many stoopids with their portion of control to permit it to happen. It’s tough to say, but our troubles began with the passage of the 19th amendment just over 100 years ago. We’re now reaping from those seeds sown.

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  2. rigged game

    Why “solve” anything? Lotsa of debt is good. If the house
    tosses a bushel-basket of free chips into a poker game,
    the game opens up, every body participates and has fun.

    . Eventually the redemption value of the chips held
    by the “big stashes” drops, but so what? Fuck the rich.
    Llittle guys – there’s many more of them- enjoy the game!

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