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FIVE THINGS I THINK

1.  I thought this was important information but now I can't remember why.

2.  The same credit rating agencies who are making noise about Congress not raising the debt ceiling are the same ones who gave high ratings to the financial instruments used in the 2008 housing crisis which jump started the recession.  I'm just noting that fact.  Draw your own conclusions.

3.  While I am on the subject, I don't give a damn whether the debt ceiling is raised or not.  What I want to happen is for Congress and the President to have some self-control.  Instead of legislation that reduces the increase in spending, how about an actual reduction in spending from the current level?  I don't think there's a single plan that does that in the entire discussion.  The reality is that the entire fight is all about political posturing while the country continues toward financial ruin. 

4.  Oil and gas prices are on the rise again.  The talking heads say the reason for that is because oil and gas are traded globally and even though our demand is declining, other countries demand is not.  My view in one word?  Speculation.  Remember when Obama was going to clamp down on that?  Sort of like when he said he was going to close Gitmo.

5.  Unlike Jimmy Carter former President Bill Clinton has some ideas about the economy and OMG, they actually make some sense.  Strange but true.

July 19, 2011 in Lists | Permalink

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