Thursday, August 4, 2011

S & P, Moody's: Should They Be on the Terrorist Watch List?

by Leslie S. Lebl

The global security situation is disintegrating sharply, yet no one seems to have realized it.

How do I know this? Well, the Tea Party has been condemned as terrorist. As we learned the hard way with regard to Al Qaeda and its friends, terrorism is simply a tactic. The truly dangerous part is the ideology behind it.

The Tea Party's ideology? It believes terrible things will happen if the U.S. government doesn't get its spending under control ...

Uh, wait a minute -- but so do Standard & Poor's, Moody's - in fact, all the rating agencies have considered downgrading our credit rating if we don't do something about debt reduction.

So they're terrorists, too! At least, they subscribe to the same subversive thinking.

And it only gets worse: yesterday's Financial Times cites the People's Daily, the official newspaper of the Chinese communist party, as stating: "Although the US has basically avoided a default, its sovereign debt problem has not been solved. It has just received a reprieve and will continue on a worsening trend."

Doesn't that sound just like Michele Bachmann?

This little piece of fun makes a serious point -- those who believe the country's debt problem is grave are acting out of concern for the country's future financial stability and are no more terrorists than the green eye-shade financial experts setting our country's credit ratings.

Leslie S. Lebl is a principal in Lebl Associates.

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