Tuesday, August 9, 2011

Beyond Absurd: The Senate Moves To Investigate The S&P Downgrade

This is truly right out of the Randian Playbook as presented in "Atlas Shrugged."  If I didn't think the actions of our leaders were so ridiculously funny as they lead our country into collapse, I would be crying...The TRUTH is that the Senate should hold up a mirror to itself and look at the obvious reasons why Congress and the White House are complete failures.  The public approval of Congress is at an all-time low and this will take it even lower. But since the name of the game in DC is "Blame Someone Else/Pass The Buck" (note: Obama now blaming previous administration completely for his failure to deliver on his campaign promises), we may as well watch the Senate fiddle - and spend more Taxpayer money on a useless investigation - while the country burns. 

I really can't believe that the Senate wants to shoot the messenger rather than spend productive time trying to solve the real problems destroying our system.  Why don't we start by cutting Congressional salaries and benefits across the board?  And I would like to call for an investigation of every Senator expressing interest in investigating S&P.  Let's start with a complete audit of every Congressman's campaign donation bank account and generate a detailed report on who is donating and how much.  Then reconcile those donations with each Congressman's voting record.  THEN let's get a detailed audit of each Congressman's personal bank account.  They work for us, right?  The Government can now audit any citizen and monitor cellphone calls.  Let's demand quid pro quo.

This really is a modest proposal and I would urge Ron Paul to incorporate it in his campaign platform.

“When you see that trading is done, not by consent, but by compulsion – when you see that in order to produce, you need to obtain permission from men who produce nothing – when you see money flowing to those who deal, not in goods, but in favors – when you see that men get richer by graft and pull than by work, and your laws don’t protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming a self sacrifice - you may know that your society is doomed.” (Francisco D'Anconia, "Atlas Shrugged")


  1. Ok, now that the cat is out the bag.....

    Could someone explain to me how they can keep rates low without QE3..

  2. I should expand my question a little. According to the zerohedge headline . no qe3 but low rates to 2013.

    hence my question . how does one achieve low rates now.

    jesse had a better piece. beginning to think zerohedge is not credible

  3. (Dave)

    LOL. I've known Jesse for about six years. He and I both think zerohedge (tyler durden) is more of a scandal rag than a serious commentary/analysis website. having said that, i do appreciate actual black and white data that zerohedge aggregates and publishes. tyler is a legend in his own mind and he should just stick to reporting facts and keep his own spin to himself.

    The worst part of zerohedge his that durden's attitude is that he's invented the thinking behind the systemic melt-down. In reality, it took him a LONG time to even catch on to the gold story...

  4. So the S&P downgrade is being investigated?
    Really, we all know of the current economic situation. We just need to find some real fixes

    Gogle/Yahoo Search: DailyJobCuts

  5. Watch...Dylan's ...Mad As Hell!

    ...and he's right!


  6. Opt out buy silver buy gold ...you know it must be bad when jamie demon is doing stand up on cnbs!

    The Junkie in the Pool and False Idols: Faith in Wall Street and The Fed Has Eroded (August 10, 2011)

    The financial Status Quo has an unsolvable problem: reality isn't swayed by propaganda. Does anyone really believe another couple years of low interest rates and a snapback rally or two will fix what's broken in the U.S. and global economies?

    Hasn't it been made abundantly clear that super-low interest rates only fuel speculation and malinvestment?

    This loss of faith is not a temporary phenomenon but rather a sea change in the zeitgeist, somewhat akin to the loss of trust in a partner caught cheating: you can never go back to what existed before, even though you go through the motions of a return to normalcy.

    I have covered this systemic loss of faith in the Status Quo many times--a process of delegitimization that is reflected in declining participation, withdrawal of funds, and increased skepticism of official pronouncements and statistical "proof" that the Status Quo is healthy and sustainable.

    Faith in the Fed and Wall Street has eroded because their bailouts failed to repair the real economy or household balance sheets. If all the Federal/Fed backstops are included, the total exceeds $23 trillion, but let's see where the most visible $10 trillion ended up:
    Rather than question the loss of faith in the Fed's magic wand and Wall Street's perpetual cheerleading, we might ask why it's taken so long for people to realize the Fed is a clueless cabal of cargo-cultists in servitude to the rigged game known as Wall Street, and the only solution is to opt out of playing the market.

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