Originally Posted by TangoFoxtrot
I hear ya! But let the sheeple panic first and let them be the sacrificial lambs in sheer panic. Then we can just step over them to escape the carnage!
Why the Sheep will freak but not completely freak.
The average person has no idea how the rating systems of Moody's or S&P works much less understands them. If you understood them you would realize at this point the ratings are more fueled by politics and the financial markets than anything.
What's funny is the administration came out and said S&P's analysis is "fundamentally flawed." Let's put it this way: In numbers the average person can relate to, as it stands today, the fed is like a person who makes $40,000/yr, has over $276,000 in credit card bills and a $2.8 million dollar mortgage (this ratio is about right as it relates to the advertised national debt and the unfunded liabilities the fed has over the next 30 years). Would you consider this person a good credit risk?
Ask the average person about the difference between AAA and AAplus and he/she will think you are talking about batteries.
I even had one person already told me they are going to "get" S&P for what "they" did. This is like blaming the bank for you not paying your mortgage when you blew it at the casino the weekend before.
As long as most sheep have their XBox, the internet, TV, three days worth of food in their pantry, McDonald's down the street and their paycheck on Monday most won't care.
My wife is not stupid just naive. I just explained to her the impact this will have on the debt (it will increase faster), potentially taxes, interest rates, etc.
The real morons on Monday will blame the Obama administration. While I AGREE 100% THIS ADMINISTRATION AND CONGRESS DIDN'T HELP THE MATTER
they certainly aren't the only cause.
As I told my wife...this could be the pebble which starts the avalanche but my crystal ball says we have somewhere between 2-5 years before things really get bad.
However, without a doubt its coming