Friday, August 05, 2011

S&P Downgrades US from AAA Rating

For the first time in American history, the creditworthiness of the USA has been downgraded from its AAA rating to AA+

7 comments:

souixsie said...

I have been struck by the parallels between the right in the US and the left in India. They both practice scorched earth policies where their ends justify the means, and the resemblance between the right-wing media in the US and its left-wing counterpart in India is stark. Truth is always the first casualty, and the views and agenda of a small but deeply influential minority rules the day, because the majority can't be bothered. India will continue to be shackled as long as the Nehru dynasty continues to rule.

Arvind said...

souixsie,

i bet you are indoctrinated by the nyt. the tea party is the best thing that has happened to america. the left in the usa is the same as the english speaking left in india. in fact, they work together. and the democrats support p-secs, commies and islamofascists. they also gang up with the missionaries when required like in the ca textbooks case.

if you seriously believe that the way to get rich is to spend more than what you have, you are being foolish.

Indus said...

Any party that can drag the US out the mess and equally importantly, treats India and Hindu Americans with (better) respect has my vote.

san said...

souixsie, I've gotta agree with Arvind here - the Tea Party has done the right thing by blocking the US govt from borrowing itself to ruin.

What's worrying right now is that all the downgrades are happening together at the same time, which can create a market tsunami. Fannie Mae and Freddie Mac are concurrently being hit with downgrades, which is a powerful blow in a very sensitive spot in the economy.

What's next - a downgrade for GM?

nutwit said...

Just a query, Aravind. Democrats are usually the non-proliferatoin ayatollahs. Republicans have friendlier view of India, but are opposed to raising taxes for the ultra-rich. Which of the two are better (from Indian and/or American perspective)

Your views plz.

Arvind said...

nutwit,

Whether the Indian or American perspective, taxes are extortion and exist solely to rob us of our wealth so that politicians can enrich themselves. They throw a few crumbs at those will bring them to power. Even if it is true that every cent of the tax is used for what you may believe to be altruistic purposes, it is immoral and it is daylight robbery.

Imagine you fall ill and you want to purchase medicines. You immediately go to your neighbor's house and inform him that he needs to foot the bill for your doctor's visit and for your medicines. Or maybe you want to send your kid to school. So you immediately go to the homes of a few neighbors and force them to pay you the tuition fees. Those who do not pay will face severe consequences - you take a gun and rob them and you are also vindictive. You kidnap them and put them in a cage and feed them dog food every day for 5 years.

Fair or not fair? That will answer your question.

On the non-economic part of your question, the Democrats ally themselves with the Communists and Islamofascists. The evangelical Christists ally themselves with the Republicans. However, there are other factions in the Republican Party. The free-market faction and the family-values faction oppose the Democrats for their own reasons. There is also the national security crowd which supports the Republicans for their opposition to Islamofascism and Communism. Although they support Christianity, many of these people can be convinced that it is wrong to convert others, especially by force.

It is for this reason that Sarah Palin stated that faith was her foundation but she was against conversion. There were other prominent people opposed to religious fundamentalists. Ayn Rand was harsh on religion and Barry Goldwater was harsh on the evangelical Christians. The former's book is the most sold book in the US and the latter ran for Presidency.

I think that Republicans are more practical and you can do business with them (Indian politicians are the ones who are not practical but get carried away by the concept of international organizations). This is not possible with Democrats who only look at others through their stereotypes and look for victims whom they can lead.

On foreign policy, I do not agree that the Democrats are ayatollahs. Democrats are weaklings.

nutwit said...

Thanks Aravind. That was insightful.