Albany, NY– I”m actually just outside the state capitol, within sight of the antenna for WGY, the 50KW flamethrower on 810khz AM… a station that’s heard all over the east coast. Caught some serious thunderstorms in Harrisburg, last night, and the sky is threatening more, here.
- THOUGHTS ON OUR FINANCIAL SITUATION: I’ve been saying for several weeks now that either a governmental default on loans issued or huge inflation at the result of printing money was inevitable. Late Friday afternoon we succeeded moving one step closer to that situation, when our credit ratings went down a notch. Standard and Poor’s also suggests that we could be downgraded even further. Personally, I’m of the opinion Geithner should be fired for his part in all of this. Captain Rand “Obvious” Paul , has already started making noise to that end . Jim DeMint, as well, along with a few others. Remember, he’s the one who suggested that we’d never get downgraded . Such insights, this man has. The trouble of course is that Geithner is simply working on the same wavelength as his boss. But then what of his boss, since obviously the tax cheat was working at his boss’ direction? Obama simply doesn’t have the stones, politically, or personally, to do it. For one thing, it would be an admission opened, and for all to see, that he and his tried have been moving us in precisely the wrong direction. Perhaps it’s just as well, since Geithner would doubtlessly be replaced by Ezra Klein or perhaps that mega- moron, Paul Krugman.Regardless what else happens, Obama is most certainly not going to escape the blame for our current situation. He inherited a AAA rating from George W. Bush. I suppose it could be said, that this is the change he promised us. the result is we are now worse shape than we were entering the great depression.Further, it must be said that the lesson will have been learned very well by the voting public, that this is the kind of thing that happens when Democrats have full control of our government. I suspect that is a lesson that will be fresh and the minds of the voters, come the next general election. Can you imagine the Democrats running on their record? Any one of them, from the WH on down, will be going hugely negative. Watch for Obama to go negative on Romney, starting this weekend.
The WH is currently gearing up with an argument that the downgrade is the result not of Obama is doubling the debt inside four years, but as a result of the Tea Party at opposition to tax increases. All this of course ignores the idea that the tax increases being proposed are not even going to put a dent in the kind of spending that Obama than forcing us into. And the “Rich” paying their “fair share” (by the left’s red tinted lights) won’t touch it, either. The bills that this administration has saddled our children with, will be fodder for at least the next several election cycles.
The comparisons to the presidency of Jimmy Carter , seem to me to lack a little in a way of accuracy. At the moment, frankly, Carter would be an improvement. I suspect that the voting results of the next general election will reflect that, directly.Still, it should perhaps be pointed out that Standard & Poor’s, four years ago, help to cause the recession that we’re now and by providing AAA ratings to subprime mortgages. Again, at the behest of Democrats. Can it be that Standard & Poor’s has now learned their lesson? Or is is possible, that S&P is acting again at the behest of the Democrats? odd, I think, that nearly nobody else is considering that possibility. But there’s another wrinkle in this sheet: What’s this I hear about Soros making about a billion because S&P downgraded the US?
- STAR LIGHT, STAR BRIGHT: Watch out for the Perseids meteor shower 11-13th.
- WE’VE STRUCK GOLD: When gold skyrockets, that’s a louder shout than S&P could ever produce. It’s at $1700/oz as of this writing.  And of course let’s note that the market went down over 200 points DURING Obama’s “deer in the headlights”  speech. The WH can dismiss that one all they want, but it doesn’t change that it’s a rejection of Obama policy. Of course, we’ll get told it woulda dropped further without him, huh?