Msg. 05588 of 54959 (This msg. is a reply to
05586 by
Cactus Flower)
Jump:
Hi Cactus:
Perhaps we should be looking at the reasons for the downgrade as opposed to the downgrade itself.
Some of us simply see an end to the stimulus-induced recovery and the resumption of the 2008 depression, since Obama, the Fed, and the Treasury have squandered trillions rewarding corruption and promoting uselessness and idleness.
Of course, crowds are mad so the S&P downgrade may cause the catastrophe we have been trying to avoid. A rating isn't just a rating. It's an event. But assuming the initial panic subsides, in my view this should be a minor event rather than a major one. Indeed, the fact Treasury values are rising tends to suggest S&P's worry about US credit-worthiness is really not the underlying issue here. I suspect a good bit of what is happening is that people are worried about everyone worrying. And then there are those who are worried that people are worrying about people being worried. The usual crack pipe logic of the stock market.
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