The phrase coming out used to refer to debutantes. (Remember Hadley Nagel, the "Egghead Debutante" who came out last December amid fawning reports of her accomplishments and lineage, which turned out to more blue collar than blue blood?) Well, anyway, that phrase is better applied towards what we know about what's been happening in Washington, D.C.
It really shouldn't surprise us that, S and P, the organization that rates securities is owned by a corporation. Nor was it surprising that the committee of "sovereign credit raters" are "secretive" and operate "deep inside" S and P. It was, however, a bit surprising that despite all the Midget Brained Asses that are hired to crunch numbers and do creative financing and accounting aren't very good at mathematics and may have miscalculated the U.S. debt by trillions of dollars. http://gillreport.com/2011/08/sp-miscalculated-u-s-debt-by-trillions/
Oops!
Then there's the Debt Supercommittee, a/k/a the Joint Select Committee on Deficit Reduction. Its ix Repugnican appointees have vowed to Grover Norquist not to raise taxes. What can we expect? More pleas for one-sided compromises, the kind that Barack Obama has made one of his hallmarks? The only result would be "Read my lips: No new taxes" and continuing the Raw Deal to replace the New Deal, all with Obama's continued cooperation.
But back to the S and P and its problems, which are linked, directly or not, with the budget deficit that favors those who benefit from Wall Street.. Now what do those other brilliant minds such as Ben "Walmart Has More Economic Data Than We Do" Bernanke and Tim "I I Didn't File My Income Taxes" Geithner suggest be done? Funny how Rahm Emmanuel and Larry "Women Aren't As Good at Math and Science As Men Are" Summers made their exits when they did. We thought it was to further their careers or, in the case of Summers, to save his cushy pension. There is no doubt in my mind that they knew something was going to brew and they wanted to distance themselves from it.
During the 1990s, Hillary Rodham Clinton said there "is a huge right wing conspiracy." People interpreted that as the persecution of her husband's lust for other women. Hilary was right. What has happened since the election of 2000 is definitely a conspiracy. The only thing is that the left and the right on the same side.
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- Metro Journalist
- I am an award winning blogger and parachute journalist who is always looking for more challenging work. My articles and photos have appeared in Connecticut Magazine, Greenwich Magazine, Stamford Plus, The Advocate, Greenwich Time, The Minuteman, Connecticut Jewish Ledger, The Jewish Chronicle, The Jewish Press, The New Jewish Voice, and various daytime magazines.
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