Debt Ceiling, Downgrade, and Drunk Monkeys

A drunk monkey could do better.

The Obama Administration has said that S&P acted hastily when the credit rating agency downgraded the US's credit worthiness from AAA to AA+ (with a negative outlook to boot).

Hasty?

Really?

For the past year the credit rating agencies have been warning of downgrade potential if Washington didn't clean up its act.

Our illustrious United States Secretary of the Treasury, Tim Geithner, said of Standard & Poor's decision, "They've handled themselves very poorly. And they've shown a stunning lack of knowledge about the basic US fiscal budget math."

Right. As if the politicians in Washington DC have handled themselves so much better. Does anyone remember Representative Anthony Weiner's sexting escapade during all the debt ceiling negotiations? He was certainly "handling" himself. The rest of the lot in DC are no better.

If anyone has shown a stunning lack of knowledge about basic US fiscal math no one has proven themselves more incompetent than Congress itself. The CBO (Congressional Budget Office) debunked Congress' fantasy math last spring after the Federal Budget for 2011 was passed and yet again after the debt ceiling deal was done and signed off.

Most Americans who have been watching the news over the past decade have had a sense that something is really wrong with the way this country handles its finances. Just how badly mismanaged the nation's finances are and how ridiculously, ludicrously, incomprehensibly huge the national debt has become is finally coming to light for the average American.

The big investors who do their own homework figured out long ago that the US wasn't worth a AAA rating. These investors couldn't rely on the credit ratings agencies assessment of anything because it was the same ratings agencies that had been slapping solid gold seals of approval on all the toxic asset, sub-prime mortgages that had nuclear meltdowns in 2008.

Jim Rogers, American billionaire investor, said that the markets have priced things six months to a year in advance. If that's so, then the markets actions this past week would indicate a really crappy six to twelve months to come.

The big movers and shakers may have priced into the market the mess that's coming but a whole lot of smaller investors were probably needing a clean change of underwear several times a day this week.

So what are we to do if things are going to get much worse over the next six to 12 months? Trust that our leaders will do their jobs and fix things?

Those in charge have been lying, cheating and stealing openly.

Why delude ourselves into thinking they will do anything even remotely close to honestly clearing up this monumental mess?

According to recent polls, the majority of Americans want to throw the bums out, each and every one of them. No politician would be safe if elections were to be held right now, today.

Much of this angst can be attributed to the pathetic circus and clown show the politicians put on during the debt ceiling debate. The whole spectacle made it abundantly clear, to even Joe and Jane Six-pack, that a room full of drunk monkeys could have done a better job.

Losing the full faith and credibility of the United States government in the eyes of the international community is one thing, losing it at home is much worse.



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