Even without a debt default, it looks increasingly possible that the world’s credit rating agencies will soon downgrade U.S. debt from the AAA standing it has enjoyed for decades. A downgrade isn’t catastrophic because global financial markets decide the creditworthiness of U.S. securities, not Moody’s and Standard & Poor’s. The good news is that investors still regard Treasury bonds, which carry... Read more
Archive for the ‘Economics’ Category
An Opportunity For Major Reform, If We Can Take It
July 27 | Posted by mrossol | Debt, Economics, ObamaCare, Party PoliticsSome thoughts on a July 19, WSJ article… =================== Emil W. Henry Jr.’s “America’s Debt-Ceiling Opportunity” (op-ed, July 19) clearly states what should be obvious to all: The federal government is extremely poorly run and ignores the basic rules of business economics and accounting. In fact, it often crosses the line into what would be criminal for the rest of us. As an... Read more
Obama Playing Russian Roulette? – R Benko
July 26 | Posted by mrossol | Economics, Obama, Party Politics, US DebtRight on the money… =========== Ralph Benko, Forbes-commentary: President Barack Obama is on the verge of terminally discrediting himself by playing some very bad games very badly. The means of avoiding default are crystal clear. Obama is not just ignoring them, but evading them. He is guilty of playing Russian Roulette with America’s creditworthiness. His administration is playing Three Card Monte with... Read more
AttaBoyBoehner – Joel Rossol
July 26 | Posted by mrossol | Economics, Obama, The Left, US DebtNot a bad perspective for a young man [of whom I’m proud]. (emphasis, his) === If Obama REALLY THINKS we are going to stumble into disaster should the debt limit not be rasied… then it seems to me that as a leader… the impetus is on him given he is largely responsible for getting us into this mess. But he cares too... Read more
Damage Done
July 26 | Posted by mrossol | Debt, Economics, Obama, US DebtThoughts of John Melloy, Executive Producer, Fast Money: (7/25/11) In the eyes of China, the biggest foreign holder of Treasuries, the damage to this nation’s reputation as steward of the world’s safest asset may already be done, even if a last-minute agreement to raise the debt ceiling is hatched. The partisan infighting alone that’s brought the decision to the brink of... Read more
