Saturday, August 6, 2011

What's a couple of trillion here or there

S&P has admitted that they made a 2 Trillion Dollar ERROR in their analysis of the US debt situation but plowed ahead with their baseless opinion anyway. Keep in mind that they make their money (and they make a lot of it) by giving people who lend out money the ratings they want to see. These are the same people who told investors that securities based the worthless sub-prime crap their employers were selling was AAA. At the same time the big banks were betting against these debt instruments with billions in derivatives that ultimately were made good by the Bush Crime Family at your expense.

Now, if S&P is successful in this con, their employers will reap billions in interest windfalls. Currently ten year Treasury bonds are selling at an incredibly low interest rates. The Federal government could lock in interest on long term bonds at less than 2% making the cost of economic stimulus insignificant and the Republicans are determined to stop this from happening.

If you didn't realize that the Republican Party, the Tea Party and conservatives in general were involved in an Ongoing Criminal Conspiracy, you should by now. The old saying still applies: Follow The Money. The right keeps saying that Democrats are unfairly taxing the rich, yet the rich have gone from a time prior to Reagan when have a hundred million in wealth was exceptional to where these people have a thousand times that and have more billions everyday, with Wall Street hedge fund operators having yearly income in the multi-billions. And they pay little if any taxes. It's not the government that's picking your pocket (except for the money the Republicans skim off the government) it's the Republicans on Wall Street that keep 40% of what you spend at the gas pump, lend you money at usury rates, buy up public assets for pennies on the dollar and on and on and on. You are being robbed, follow the money.

2 comments:

Anonymous said...

Tomorrow night when the US Bond futures market opens at the CME Group should be rather interesting. I have heard from some traders that a downgrade is moot. US Treasuries are still the most desirable fixed income assets for numerous reasons. Hence, the market might just be too powerful for even these thugs.

Kay said...

3-year treasury yields .34%
5-year treasury yields .99%
7-year treasury yields 1.64%

Giving my money to the biggest debtor nation in history at miniscule rates. No. The 30 year bond bull market is just about done. This bubble doesn't seem very safe to me.