I give myself a downgrade for the prolonged silence here. I've been paralyzed by the freak show of the spectacle of the Congress in Paralyse. The horrible prolonged haggling over the debt ceiling and the President's caving to the Tea Party's hostage taking of our future has led to a downgrade by S&P. Frankly I think it's long overdue. Today they've downgraded Fannie & Freddie who happen to hold the Mortgage on my house. This doesn't make me feel too terribly safe, but I've never felt terribly safe so...nothing new here, move along, nothing to look at, just another old wreck...
Friday anybody watching news (like I do, obsessively) saw the Dow fall off a cliff and then, when the Market's closed, heard the news that S&P dropped our Credit Rating from AAA to AA & 1/2. Is this a wake up call to the Tea Party that their brinkmanship is disastrous as a governing strategy? Fuck no! It's exactly what they wanted. Bring us to our knees, starve the beast! And in so doing defeat Obama! Well then, mission pretty much accomplished!
Now it's Monday, a little after noon and the Dow is plummeting again. The news is bad all over the world. Happy Tea Party?
Open Thread - Literate Liberals, Whatcha Gonna Do?
27 minutes ago