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Standard & Poors Cuts U.S. Outlook to Negative Because Both Parties Keep Throwing Money at Endless Wars, Endless Bailouts and a Ponzi Financial System

Posted By admin On April 18, 2011 @ 9:45 am In Commentary | Comments Disabled

Washington’s Blog [1]
April 18, 2011

As I’ve been warning for years [2], America’s irresponsible financial policy will lead to a credit downgrade.

Today, S&P cut its U.S. outlook to negative, warning of a 1 in 3 chance of a credit downgrade in the next couple of years.

As the Wall Street Journal notes [3]:

Standard & Poor’s Ratings Services Inc. cut its outlook on the U.S. to negative, increasing the likelihood of a potential downgrade from its triple-A rating, as the path from large budget deficits and rising government debt remains unclear.

“More than two years after the beginning of the recent crisis, U.S. policy makers have still not agreed on how to reverse recent fiscal deterioration or address longer-term fiscal pressures,” S&P credit analyst Nikola G. Swann said. He said the rating agency puts the chance of a U.S. downgrade within two years at least one-in-three.

***

S&P said Monday it sees material risk that policymakers might not agree on how to address budgetary challenges by 2013, which would render the U.S. fiscal profile weaker than that of other triple-A-rated countries.

***

S&P said that if an agreement isn’t reached and meaningful implementation is not begun by 2013, it would make the U.S. fiscal profile meaningfully weaker than that of other triple-A-rated sovereigns.

Stock up with Fresh Food that lasts with eFoodsDirect (AD) [4]

Standard & Poors Cuts U.S. Outlook to Negative Because Both Parties Keep Throwing Money at Endless Wars, Endless Bailouts and a Ponzi Financial System 161008pptv3 [5]

While the Democratic and Republican leadership point fingers at the other side, and bicker about ideological pet peeves, this is not a question of left-versus-right.

The war between liberals and conservatives is a false divide-and-conquer dog-and-pony show created by the powers that be to keep the American people divided and distracted. See this [6], this [7], this [8], this [9], this [10], this [11], this [12], this [13] and this [14].

The real problem is that both Democrats and Republicans want to fund endless wars, give endless bailouts to the too big to fail banks and corporations, and perpetuate the expensive Ponzi scheme of printing money out of thin air [15]. See this [16] and this [17].

Imperial wars reduce our national security [18]. Endless bailouts harm the economy [19]. Ponzi finance costs trillions of dollars [20] (and leads to a decrease in loans [21] to Main Street).

To the extent that both the Republican and Democratic parties slavishly follow these meta-policies – which supersede the stated “conservative” and “liberal” goals – they will ensure that we lose our AAA credit, and they will destroy our economy.


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URLs in this post:

[1] Washington’s Blog: http://www.washingtonsblog.com/2011/04/standard-poors-cuts-us-outlook-to.html

[2] warning for years: http://www.google.com/search?hl=en&client=firefox-a&hs=nOC&rls=org.mozilla%3Aen-US%3Aofficial&q=site%3Ahttp%3A%2F%2Fgeorgewashington2.blogspot.com%2F+U.S.+sovereign+%22credit+rating%22&aq=f&aqi=&aql=f&oq=

[3] notes: http://online.wsj.com/article/SB10001424052748704004004576270693061767996.html?mod=WSJ_hp_LEFTTopStoriesv

[4] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[5] Image: http://prisonplanet.tv/

[6] this: http://www.washingtonsblog.com/2010/09/poll-after-poll-shows-that-both.html

[7] this: http://www.washingtonsblog.com/2009/04/dont-fall-for-old-divide-and-conquer.html

[8] this: http://www.washingtonsblog.com/2008/11/neocons-and-neoliberals-two-masks-one.html

[9] this: http://www.washingtonsblog.com/2009/03/conservative-and-liberal.html

[10] this: http://www.washingtonsblog.com/2009/03/useful-idiots-on-left-and-right.html

[11] this: http://www.washingtonsblog.com/2009/11/senator-dorgan-we-essentially-have-had.html

[12] this: http://www.washingtonsblog.com/2009/08/state-of-civil-disobedience-on-left-and.html

[13] this: http://www.washingtonsblog.com/2010/12/forget-keynesians-versus-deficit-hawks.html

[14] this: http://www.ritholtz.com/blog/2010/09/you-vs-corporations/

[15] endless wars, give endless bailouts to the too big to fail banks and corporations, and perpetuate the expensive Ponzi scheme of printing money out of thin air: http://www.washingtonsblog.com/2010/03/raise-taxes-and-cut-spending-why-not.html

[16] this: http://www.washingtonsblog.com/2008/12/central-banks-central-bank-says.html

[17] this: http://www.washingtonsblog.com/2009/08/real-war-is-not-between-left-and-right.html

[18] reduce our national security: http://www.washingtonsblog.com/2010/01/military-industrial-compex-is-ruining.html

[19] harm the economy: http://www.washingtonsblog.com/2009/10/capitalism-socialism-fascism-or.html

[20] costs trillions of dollars: http://www.washingtonsblog.com/2009/11/trillions-in-unnecessary-interest-to.html

[21] leads to a decrease in loans: http://www.bloomberg.com/apps/news?pid=20601087&sid=aoYm3JlMWLkY

[22] S&P Affirms US AAA Rating, Cuts Outlook to Negative: http://www.prisonplanet.com/sp-affirms-us-aaa-rating-cuts-outlook-to-negative.html

[23] Moody’s Warns There Is Increased Likelihood Of Negative Outlook To US AAA Rating In Next 2 Years: http://www.prisonplanet.com/moodys-warns-there-is-increased-likelihood-of-negative-outlook-to-us-aaa-rating-in-next-2-years.html

[24] Egan Jones Downgrades USA From AA+ To AA, Outlook Negative: http://www.prisonplanet.com/egan-jones-downgrades-usa-from-aa-to-aa-outlook-negative.html

[25] China Boldly Goes (Again) Where Moody’s Has Never Gone Before, Downgrades US From A+ To A, Outlook Negative: http://www.prisonplanet.com/china-boldly-goes-again-where-moodys-has-never-gone-before-downgrades-us-from-a-to-a-outlook-negative.html

[26] Ron Paul: Tea Party not to blame for Standard & Poor’s downgrade: http://www.prisonplanet.com/ron-paul-tea-party-not-to-blame-for-standard-poor%e2%80%99s-downgrade.html

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