If Obama did not want this to happen, it would not happen...

[kpete]

4. If Obama did not want this to happen, it would not happen. Could you imagine what LBJ, Nixon or Truman (or, hell, Bush Jr.) would have done if a rating’s agency tried this? The President has the necessary tools to utterly destroy S&P and every senior analyst working for them. You could use terrorism statutes or RICO, just as two examples. Send the FBI into their offices, seize all the assets of both the company and everyone working for it, and then got through their records. I guarantee, as absolutely as the sun will rise tomorrow morning, that there is enough evidence of fraud in those records to put them away for life. In the meantime, RICO laws are used to seize all the assets of everyone involved, meaning they will be using public defenders (don’t like a bad law? Use it against real people.) When S&P informed the White House they were going to downgrade, the White House could have quietly let them know what the consequences would be.

5. The US has effectively unlimited drawing rights from the IMF. Those drawing rights mean that if any of the core economies have an AAA rating, in effect, so does the US. (ie. if Germany is AAA, so is America.)

6. S&P knows all this. They are doing this because they know the President and Congress and the real people in the oligarchy want it done. Remember, a downgrade increases rates, and that is a direct increase to their income. And they know the US can pay, they aren’t fooled by idiotic talk about a default. The US may default at some point, but that will be a political decision.

7. This is another manufactured crisis, on top of the original manufactured debt ceiling crisis. The oligarchy wants the opportunity to buy federal assets at dimes on the dollar. They believe they don’t need the poor or middle class anymore, so they are good with getting rid of SS and Medicare. And Obama is, as he always has been, onside with this.


(i feel as though i am covered in shit today, kpete)
the rest:
http://www.ianwelsh.net/comments-on-the-sp-downgrade/

[Autumn]

1. #3 Nailed it. K/R

[snagglepuss]

2. to read later

[anamandujano]

3. His helpless innocent act is wearing ultra thin.

Although to me, one of the little people, it seems that the S&P business was a logical outcome of the charade in Washington.

[MilesColtrane]

4. "If Obama did not want this to happen, it would not happen..."

Why, yes, that WILL be the constant talking point by Romney, Bachmann, and Perry over the next several months.

...and some people are just lapping it up.

[kpete]

6. please understand

it is NOT that I want to blame Obama, I would much rather BELIEVE in him
but especially today,
it seems we need to KNOW some truths

I am just searching
oh, btw, found this too:



Stock market down 17% in two and half weeks while the bond market has reduced the yield on the Ten-Year Treasury from 3% to 2.35%, and break-even five-year inflation has fallen from 2.1% to 1.7%. I think that is a very loud wake-up call for Mr. Obama--that it is long past time for him to stop talking about how surrendering to Republicans on long-run spending priorities will bring the confidence fairy who will then gift us with a strong recovery and start actually doing his job.

more:
http://delong.typepad.com/sdj/2011/08/how-should-obama-answer-the-stock-markets-wake-up-call-we-need-different-cossacks-department.html

[indepat]

10. What is the reality of all this

:shrug: :patriot:

[Swede]

5. Tighten up that tinfoil hat.

Some weird shit is slipping out.

[William769]

7. K&R.

[KittyWampus]

8. Ah, yes. Obama has a magic want. He just isn't using it. Thanks for adding to the cesspool.

[Nuclear Unicorn]

12. Worse than a magic wand--

apparently Obama is supposed to send the police to ransack the offices, seize property and haul off the execs of S&P for issuing an unflattering opinion that surprises no one.

[anamandujano]

16. Obama has 1) a brain, 2) a bully pulpit, 3) responsibilities to

the country and the people that elected him.

1) Not using? 2)using but ineptly? 3)not meeting or caring?


The sad truth is he was placed in office by the powers that be. He knows his job and he is doing it. All the apologists in the world cannot deny that.

I was never an Obama supporter but was prepared to be pleasantly surprised and proved absolutely wrong. And to that, I jump at the slightest propaganda that will help me be pleasantly surprised and proved absolutely wrong.

Obama is being called out by many because he is arguably the most powerful person on the planet. Are we to believe his hands are tied by a few nutters?

I doubt it was the downgrade that is causing turmoil in the markets. Everyone has been talking for weeks about the debt debate debacle and what it might lead to even if they reached an agreement in time. No one trusts anyone in political power to solve our problems. That is not to say that those in power aren't presently reaping the rewards of their knowing incompetence. I wish that would be investigated, but by who?

[AngkorWot]

9. Even you believe really hard, you can fly.

Try it out.

[SidDithers]

11. Ian Welsh. LOL...

This article wasn't any better when it was posted a couple of days ago.

Sid

[Nuclear Unicorn]

13. I'm afraid I'm heretofore unfamiliar with Mr. Welsh.

He seems to be a somewhat excitable fellow. Is he the Scottish MP I'm reading about on wikipedia?

[SidDithers]

17. No, he's a Canadian writer, and formerly of FDL...

his wikipedia page was deleted because he wasn't noteworthy enough :)

(trying to find the cached page and deletion record that I saw on the weekend, but can't remember the series of links that led me there)

Sid

[dionysus]

14. oh, the melodrama...

:rofl:

[phleshdef]

15. Hold the hell on. S&P is full of shit, but #4 is fascist and downright insane.

You expect anyone to take that seriously? S&P's rating is nothing more than a fucking opinion, when it comes down to it. You are actually advocating that we start seizing assets and sending in agents and using terrorism laws over a fucking financial opinion? How very liberal of you.

I'm not saying there aren't possibly ways to get at S&P. I would bet money that they've been involved in SOMETHING shady that the government could give them trouble over. But not that kind of insane, unnecessary, anti-democratic thuggery.

[GeorgeGist]

18. Blowing ...

won't put Empty together again.