Saturday, July 23, 2011

The Wall Cracks; US Debt Downgraded

Actual news instead of Obozo campaign bullshit:

Reuters reported that the credit rating agency Egan-Jones has in fact become the first rating agency to downgrade the U.S. rating.

Most of you understand the REAL reason for the downgrade:

...the cut is due the U.S. debt load standing at more than 100 percent of its gross domestic product. This compares with Canada, for example, which has a debt-to-GDP ratio of 35 percent, Egan-Jones said in a report sent on Saturday. [CANADA??]

If you believe Obozo and McConnell, your refrigerator will be empty tomorrow AND your mortgage-interest rate should go to 15%. Dow should drop to ~6,000 on Monday.

Or something.

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