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I'll take it. The US could have been taken out to the woodshed, raped, beaten, and murdered if we had defaulted on our debt. We would have been reduced to a B on the credit scale, putting us on par with... Zambia. If we had defaulted, the CHinese were fucked, the Euro was fucked, the price of oil is fucked, and the world descends into chaos. So, I'll take a slight drop in credit rating.
"A toothache, or a violent passion, is not necessarily diminished by our knowledge of its causes, its character, its importance or insignificance".- T.S. Eliot
I'm with Jared on this one. Of all the things that could have happend, I'll take this one.
Now, its time for the US to get its fiscal house in order.
"There is a sacredness in tears. They are not the mark of weakness, but of power. They speak more eloquently than ten thousand tongues. They are messengers of overwhelming grief...and unspeakable love."
- Washington Irving
It was bound to happen eventually. Now we just have to wait for the financial crisis to hit the rest of the world. The world has to work together if we really want to get through this crisis without too much chaos.
This is why I HATE having the world based around the USD.
"A toothache, or a violent passion, is not necessarily diminished by our knowledge of its causes, its character, its importance or insignificance".- T.S. Eliot
The USA would have been in so much more trouble if it wasn't though. We would have ended up like Greece or worse.
Even so... We're bringing down other countries due to our stupidity
"A toothache, or a violent passion, is not necessarily diminished by our knowledge of its causes, its character, its importance or insignificance".- T.S. Eliot
Even so... We're bringing down other countries due to our stupidity
The other top economies deserve some blame as well (China Japan, etc.). It's not just due to our stupidity. Also, There's a chance that the capitalistic economy is to blame for all this (although, everyone is hesitant to even mention that).
The other top economies deserve some blame as well (China Japan, etc.). It's not just due to our stupidity. Also, There's a chance that the capitalistic economy is to blame for all this (although, everyone is hesitant to even mention that).
I'll stand with a capitalistic system to the end... however, things such as excessive farm subsidies and other frivolous devices ought to be cut (which they are).
"A toothache, or a violent passion, is not necessarily diminished by our knowledge of its causes, its character, its importance or insignificance".- T.S. Eliot
I'll stand with a capitalistic system to the end... however, things such as excessive farm subsidies and other frivolous devices ought to be cut (which they are).
I'm not saying that we shouldn't. In fact, that's the best thing to do. But you have to realize that capitalism is a new economic system in a sense. So this all could be a part of the capitalistic cycle. If so, It'll probably right itself soon enough (if Adam Smith was right).
Today's Toppers
S&P downgrades U.S. debt
