Rightbloggers: S&P Downgrade of U.S. Means We're On The Right Track

tomt200.jpgLast week, hot on the heels of the Congressional debt-ceiling fiasco and the ensuing stock market drop, Standard & Poor's downgraded the credit rating of the United States of America from AAA to AA+, and placed the ailing superpower on "CreditWatch with negative implications."

The reactions of American politicians to the unprecedented event have been what you would expect (e.g. Mitt Romney's: "America's creditworthiness just became the latest casualty of President Obama's failed leadership on the economy"). So too have been those of the rightbloggers, but they are even more eager to demand a continuation of the disastrous reforms that precipitated last week's downgrade.

It's like someone who cracked up his car saying from his hospital bed, "Maybe I should have taken that turn a little faster."

When it was just a rumor, some Wall Street folks, perhaps in denial, thought a downgrade was unlikely. "We think they're unlikely to follow through on the threat of a downgrade," said Morgan Stanley's David Greenlaw, "as long as [politicians] give them something they can hang their hat on." The Wall Street Journal's Mark Gongloff was bullish: "Are the rating agencies really prepared to pull the trigger on a downgrade and suffer the avalanche of political fury that will come their way as a result?"

But some Tea Party types thought a downgrade would be a wonderful thing. As far back as April, when S&P was sending downgrade signals with a change of U.S. status from "stable" to "negative," Tea Partiers like GOP Congressman Blake Farenthold called it "a vindication of the Tea Party and its stance that we're spending too much."

"S&P didn't mention the debt ceiling in it's downgrade announcement," said Liberty Works. "... less spending is the only way to prevent the debt from growing to high enough, with risk of default great enough to drive away investors." "Here again the free market trumps the gov's BS by telling them that their money and budget politics stink!" cried Tea Party Colorado. "To understand the ridiculousness of those !@#$#@! in Washington, please click HERE to view this quick 98 second video. Please don't vote for any of these disgusting !@#$#@! Just buy silver and wait."

As the debt ceiling crisis grew and downgrade got closer, TP people remained largely sanguine about the prospect.

"So long as anything passes by some self-designated date of the latest self-designated end-of-the-world crisis," said Paul Gable of Brushfires of Freedom, "then the media will go to work explaining to the American people that their ruling class has saved them once again; that the most godless intellectuals among the ruling class (almost all Democrats) are the real saviors in the process," etc.

Conversely, if a downgrade came, said Gable, America would finally be made to face hard truths: namely, "whatever happens in the financial markets, and whatever labels are assigned to the 'rating' or 'quality' of US government debt, it is the current ruling class that has been and is being thoroughly downgraded by the American people (and really, by all people of decency and good faith)..."

But "Tea Party America is not going to be downgraded or depressed or defeated," rose Gable's voice, "no matter what Obama or Reid or Boehner come up with, no matter how the media spins it... Truth doesn't collapse, and is never downgraded... America will emerge better and brighter for having gone through it." Enjoy your cleansing economic collapse! It's all for the best.

teapartypoop.jpg
Stocks are tanking... Credit downgraded... Helter skelter, she's comin' down fast!
When the downgrade came, RedState's Erick Erickson announced, "Left Rushes to Blame the GOP for S&P Downgrade." Actually it was S&P who blamed, explicitly, the Republicans ("We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act"); the "Left" was just pointing this out. (We wonder if any of them included quotes from Erickson's July 25 column, entitled "Speaker Boehner Commits Us To A Credit Downgrade.")

But Erickson had an explanation -- at least we think that's what this is meant to be:

"The issue here, however, is that while present law presumed the GOP tax cuts would go away," said Erickson, "the policy presumption is that they would get extended. Likewise, this is not blaming the GOP. This is a statement of reality that the GOP wasn't going to raise taxes. Consequently, because the GOP refused to raise taxes, the alternative needed to be more cuts."

So far, so incoherent -- which we assume was the intention, like throwing sand in someone's eyes before making a getaway. At least what Erickson said next resembled English:

"And S&P clearly believes that the cuts the debt deal made were not enough. And who opposed big cuts? Why yes, a guy named Barack Obama and the Democrats." We think we get it: though S&P complained there were too few tax revenues, they can't have meant it, because Republicans simply can't raise taxes, so Erickson is sure they really meant to blame Obama, who agreed to spending cuts but, um, hey look [throws sand]. Erickson is also a commentator for CNN.

John Podhoretz got in on this, too, with "The U.S. Is Downgraded, and Obama Will Be Too" at Commentary. "There's truth to the Leftist charge that the conservative Republican decision to use the debt ceiling fight as leverage to force a cut in the national debt at a particularly risky time was unsound," he allowed. "But that is nothing next to the liberal fantasy that the U.S. can stay on its current course -- the most destructive notion in present-day politics." One wonders why S&P hadn't thought to downgrade us much sooner, then, instead of immediately after the debt-ceiling fiasco. (Scheduling conflict?)

"But the ideological stalemate does not mean the political fallout will be evenly distributed," continued Podhoretz. "This is a colossal disaster for Barack Obama, and anybody who says otherwise is kidding himself or trying to spin you." Fortunately we have John Podhoretz to counteract this spin: "But now the GOP has an overarching theme that I predict will be at the core of a $500 million advertising campaign: 'America needs its good name back.'" $500 million might not be enough, but there are plenty of possible funding sources; we suggest the tagline be delivered by John Boehner, just to drive the point home.

The Washington Examiner's Philip Klein agreed that "it will be difficult for President Obama to escape blame for this." Klein's reasoning was largely mystical: "Obama was elected president at a time when Americans felt the nation was in decline," he wrote, "and his central job was restore their faith that our best days were ahead of us, as President Reagan did after the Carter era." Though Obama, like Reagan, ran up large deficits, he didn't have as much money to play with as Reagan, nor is he a Republican; thus, "the sense of decline has only deepened during the Obama presidency," judged Klein, "and the first-ever downgrade of U.S. credit, whatever its ultimate financial implications, is yet another symbol of that decline." Similarly, when Casey Anthony got off, that was a symbol of the judicial decline that has disastrously affected America's faith in the Supreme Court.

Naturally Democrats didn't see things the same way, which was offered as proof that they had something to hide. "The partisan left -- and the establishment media supporting it -- naturally seeks a short-term advantage from the event," said Karl of Patterico's Pontifications. "...They will hide behind S&P's curious refusal to identify the Democrats as the chief obstacle to entitlement reform..."

We hoped that last bit would lead to an Obama/S&P conspiracy theory, but Karl spent most of the remainder of his post attacking "the Obama Administration and the ideological left" for their "hysterical attacks," "infantile, illogical, ad hominem attacks," etc, because some of them questioned the authority of Standard & Poor's to dictate U.S. policy. "In sum, the S&P downgrade marks a post on the road where progressive demagogy loses its power," said Karl rather hopefully. "The downgrade marks a post on the road to extinction for 19th-20th century progressivism."

He was far from the only rightblogger who thought the downgrade meant America needed still more extreme conservative policies in Washington.

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Ajironworks
Ajironworks

check this Link out , it talks about how the President of the S&P is calling for the death of the US dollar in 2009 and Obama's Chair of the SEC is there and they all are on board ,

BILDERBERG FINANCIERS AT TEL AVIV MONETARY MEETING

http://disc.yourwebapps.com/di...

S&P CEO Deven Sharma This is a guy who was a key contributor at the 2009 Bilderberg Summit that organized 120 of the world’s richest men and women to push for an end to the dollar as the global reserve currency. Mary Shapiro, OBAMAS SEC head was there , and Now Obama has the SEC Investigating the S&P , I am sure you heard , but don't you thin with the charge of Treason staring at the S&P president by Obama , But Obama was there at the meeting 2 years ago and agreed to this Plan to ditch the US dollar , Obama can't Hold the Office of the Presidency and be Implicated in this , so he is Back Stabling the S&P President CEO Deven Sharma so I think this is where we Need to concentrate the Pressure on the S&P guy because he ain't going down without Obama , and the harder we Push the S&P guy the harder he goes after Obama , any thoughts ???

I mean read what they S&P guy said here , Michael Rourke saw this and about blew a cork man , and Obama is head deep in this but has the cover right now with the appearance of SEC investigation , but its all a shame and we need to figure out who we can turn this information onto that can turn the heat up on Prosecution of the S&P guy to get him to implicate Obama in this plan to crash the dollar and the USA with it .This article has this Paragraph in it and we can even Bring SOROS into this too , the S&P guy will betray SOROS TOO if he thinks hes going down for Obama and SOROS plus a whole bunch of other ELITES that were planning our demise right under our LIVES , what a bunch of  crap .

 http://seekingalpha.com/articl...  

[T]hrough his writings on “competitive strategy” S&P CEO Sharma considers the United States the PROBLEM in today’s world, operating with what he implies is an unfair and reckless advantage. The brutal reality is that for “globalization” to succeed the United States must be torn asunder . . .

The Scam against the USA was all found here , the Author is a VIP LIBERAL LAWYER and she is exposing the truth against Obama so thats a big deal .

 http://webofdebt.wordpress.com...    

I'm racist waaaah waaah waah
I'm racist waaaah waaah waah

Roy "I'm moving to DC so I can get attacked by niggers easier" Edroso is the biggest reality-ignoring, faith-based, evolution-denying Creationist on Earth!   Kill yourself for being such a blatant dipshit and failure, Edroso!   NEWSFLASH!!!  Your new "relationship" in DC isn't going to work out!!!!  BWHA HAW HAW AHWHey Edroso you failure at everything!!!  REALITY ITSELF is RACIST.  Get used to it, you Pollyanna libtard!

A huge fresh batch of 911 tapes has been released by the West Allis Police Department, shedding new light on the racially-fraught crime wave that gripped the Wisconsin State Fair last Thursday.

 Call after call came in to the 911 dispatcher, each sounding similar but adding a new story: "Hi I'm calling because my kids came from the state fair and they were attacked by a group of black people that opened the car door and started punching them," one woman tells the dispatcher. Then, another caller: "Hi, uhm, there was like 25 black kids that were trying to jump a State Fair park worker," a woman says.Meanwhile, West Allis police say race did play a factor in 11 incidents they're investigating from that night, including nine assaults, and that it might still charge some of the incidents from that night as "hate crimes," according to Milwaukee radio station WTMJ. Many of the tapes, which were obtained by  WTMJ, sound like echoes of each other.VIDEO OF THE VIOLENCE: Cell phone footage WI State Fair wilding [VIDEO]One caller just after 11:30 said he "just wanted to make sure somebody got to the kid who was getting, just, pummeled on the side of the road."​"The African Americans that were beating the hell out of him pulled him up off the sidewalk into the bush," he says. And then: "And the security guard, the African American lady that was working that gate, her ass needs to be fired, because she didn't do a damn thing. She just stood there and watched."In another tape, a man who sounds drunk or dizzy tells the dispatcher he was jumped and beaten, and eventually turns his rage on her. "Yeah, there's a group of African Americans that are walking down 75th Street, going north, that thought it was okay to have a law abiding citizen walking by... and they just jump me, what?""Do you need an ambulance, sir?""No I don't need an ambulance. I'm bleeding but I don't give a shit.""Do you want an ambulance?""No I don't want a fucking ambulance. Send some squads, arrest these people.""We have squads all over the area you're going to have to walk up to an officer and find one.""Walk up to an officer? I don't see an officer anywhere what are you talking about?""We have about 20 squads all around the general area.""I mean this is what I gotta go through, I pay taxes and I'm walking down the fucking street  -- really? -- and this is what the fuck happens, some stupid fucking black motherfuckers, they think they can just punch people, really?"Wisconsin State Fair police arrested 23 people during the violence, all but one of them between the ages of 15 and 20, and West Allis Police arrested another seven. Police reports from the incident are expected to come out later today.http://blogs.citypages*com/blotter/2011/08/_911_police_tapes_wisconsin_state_fair_race_riot_hate_charges.php

I'm racist waaaah waaah waah
I'm racist waaaah waaah waah

Hey Edroso!  You are the shittiest journalist on earth and you should kill yourself!  But first I'd LOVE to see you attempt to tell the Mayor of Philadelphia that the BLACK VIOLENT FLASH MOB problem he is addressed LAST NIGHT doesn't exist!HOLY SHIT YOU SUCK EDROSO!!!! KILL YOURSELF TONIGHT, FOOL!  YOU FAITH-BASED GOOFY DIPSHIT!  KILL YOURSELF.August 8, 2011Philadelphia mayor talks tough to black teenagers after ‘flash mobs’PHILADELPHIA — Mayor Michael A. Nutter,telling marauding black youths “you have damaged your own race,” imposed a tougher curfew Monday in response to the latest “flash mob” — spontaneous groups of teens who attack people at random on the streets of the city’s tourist and fashionable shopping districts.“Take those God-darn hoodies down, especially in the summer,” Mr. Nutter,the city’s third black mayor, said in an angry lecture aimed at black teens. “Pull your pants up and buy a belt ‘cause no one wants to see your underwear or the crack of your butt.”“If you walk into somebody’s office with your hair uncombed and a pick in the back, and your shoes untied, and your pants half down, tattoos up and down your arms and on your neck, and you wonder why somebody won’t hire you? They don’t hire you ‘cause you look like you’re crazy,” the mayor said. “You have damaged your own race.”Mr. Nutterannounced that he was beefing up police patrols in certain neighborhoods, enlisting volunteers to monitor the streets and moving upthe weekend curfew for minors to 9 p.m.Parents will face increased fines for each time their child is caught violating the curfew.The head of Philadelphia’s chapter of the National Association for the Advancement of Colored People, J. Whyatt Mondesire, said it “took courage” for Mr. Nutter to deliver the message.“These are majority African-American youths and they need to be called on it,” Mr. Mondesire said.Mary Catherine Roper, a spokeswoman for the Philadelphia chapter of the American Civil Liberties Union,said her group sees the curfew move as legal with its sole caveat beingthat it not evolve “into an excuse to hassle” any youths on the street.The state ACLUfiled a federal lawsuit last year challenging Philadelphia police’s useof “stop and frisk” searches. A settlement announced in June allowed the program to continue, along with safeguards to prevent the use of racial profiling.In the past two years, the City of Brotherly Love has been the scene of several flash mobs in which youths meet at planned locations by texting one another and then commit assorted mayhem.In one episode, teens knocked down passers-by on a Center City street and entered an upscale department store where they assaultedshoppers. On another occasion, hundreds of teens gathered in a restaurant district and menaced patrons, forcing some restaurant owners to lock customers inside temporarily for their own protection or to close early.In the latest event July 29, about 20 to 30 youths descended on Center City after dark, then punched, beat and robbed bystanders. One man was kicked so savagely that he was hospitalized witha fractured skull. Police arrested four people, including an 11-year-old.Other cities have grappled with the problem of destructive flash mobs. In Chicago on Memorial Day weekend, roving teensflashed gang signs, knocked cyclists off their bikes and harassed picnickers. Police closed a popular beach as the violence escalated.InJanuary, dozens of young people stormed a popular Milwaukee mall late in the afternoon and scared customers and store employees.In the District of Columbia, about 20 teenagers entered the G-Star Raw store on Connecticut Avenue at Dupont Circle in April and stole about $20,000 worth of merchandise before fleeing.The problem hasgiven a heavy dose of bad publicity to Philadelphia, which depends on tourism dollars. At one point last summer, city police stationed four officers at each intersection on weekend nights in a neighborhood where youths had congregated.Mr. Nutter,a strong ally of President Obama and vice president of the U.S. Conference of Mayors, took to the pulpit of his Baptist church Sunday todeliver a 30-minute sermon about black families taking responsibility for the behavior.“The Immaculate Conception of our Lord Jesus Christ took place a long time ago, and it didn’t happen here in Philadelphia,” Mr. Nutter said. “So every one of these kids has two parents who were around and participating at the time. They need to be around now.”Themayor told parents, “If you’re just hanging out out there, maybe you’resending them a check or bringing some cash by. That’s not being a father. You’re just a human ATM. … And if you’re not providing the guidance and you’re not sending any money, you’re just a sperm donor.”At City Hall on Monday, the mayor said gangs will be confronted.“If you want to be aggressive, we’re going to be aggressive,” Mr. Nutter said, before sending a warning.“Letme just share this with you. We’ve got the biggest, baddest gang in town - a committed group of citizens and a committed government - and we’re working together and we’re not going to have this nonsense anymore.”http://www.washingtontimes*com/news/2011/aug/8/mayor-talks-tough-to-black-teens-after-flash-mobs/KILL YOURSELF EDROSO.  KILL YOURSELF FOR BEING A TOTAL FAILURE AS A "JOURNALIST".  YOU ARE ONLY A PROPAGANDIST, AND YOU EVEN SUCK AT THAT.  KILL YOURSELF IMMEDIATELY.

parsec
parsec

A corporation with an agenda badmouths U. S. debt and the response is everyone going into the market and buying Treasury notes and bonds.  The classic wingnut exploding cigar.

laym
laym

"hopefully set some nuclear brushfires"

Hopefully?

"hopefully set some nuclear brushfires in the minds of the rest of the world."

Oh!  I see ... metaphorical nuclear brushfires, that's much more ... what?

johnAnon
johnAnon

The economy tanks while gold prices rise to an all-time high, and the Tea Party cashes out!  Why hasn't anyone connected the obvious dot's here?!?!

StringonaStick
StringonaStick

I am forced to conclude that every TeaPublican out there blogging or drooling (or both) on the theme of "kill Medicare or the country gets it!" is either marvelously wealthy, or too stupid to recognize that cutting Medicare means that it isn't just those unsavory poor people who won't be getting any, but that TeaPublicans will also be up Geriatric Creek with no health insurance paddle. 

There'll be such a great amount of surprise when the 2nd & 3rd tier finds out that Koch largesse only extends to useful functionaries like Gov. Walker, not to bloggers and CNN "celebrities". 

Duncan
Duncan

Mitt Romney's: "America's creditworthiness just became the latest casualty of President Obama's failed leadership on the economy"

Actually, he's not far off there.

par4
par4

But Dick Cheney said deficits weren't important.

R. Porrofatto
R. Porrofatto

It's no surprise that the Tea Party GOP and the rightbloggers spinning for them do the usual lying dance. The doublethink is getting a bit thick, though:- The debt ceiling deal was a victory for the Tea Party- S&P downgraded because the debt ceiling deal wasn't adequate.- It's Obama's fault because he refused to address entitlements like Medicare.- The RNC is blasting emails and faxes accusing Obama of agreeing to cuts in Medicare.etc.

Analyst and wingnut wunderkind Erick Erickson's incoherence here is the prevailing Gooper spin, which, as always, is terribly effective in headline news media that will never repeat the S&P statement re: Republican intransigence verbatim because it is explicitly only about Republicans.

Sunday, I heard local newsradio saying S&P downgraded "because the debt deal didn't go far enough," and, as a result "the White House went into full damage control." That was the amount of detail in its entirety -- no mention of S&P's criticism of lack of revenue or congressional intransigence or any mention of Congress at all, and of course, the word "Republican" wasn't even within spitting distance. Obama's failure to cut, cut, cut, caused S&P's downgrade, end of story. Same with local TV news. People who read lefty blogs may know that the GOP/Tea Party is most to blame for the downgrade, but to the "low-information" (formerly known as "ignorant" or "Fox viewing") voter, this humiliation of our bonds is Obama's fault, and how could he do this to America?

Patent Attorney
Patent Attorney

Oil plunges below $84 after S&P downgrades US debt

SINGAPORE (AP) — Oil prices sank below $84 a barrel Monday in Asia after Standard & Poor's lowered the U.S. credit rating — a blow to confidence that could hurt economic growth and demand for crude.Benchmark oil for September delivery was down $3.27 to $83.61 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. Crude rose 25 cents to settle at $86.88 on Friday.In London, Brent crude was down $2.46 at $106.91 per barrel on the ICE Futures exchange.Oil plunged after Standard & Poor's announced Friday it was lowering its rating for U.S. debt one notch from AAA to AA+. Investors are concerned the first-ever U.S. debt rating downgrade will batter already weakening consumer confidence and hurt economic growth.Crude has dropped from $100 last month and near $115 in May.

SFAW
SFAW

Kill yourself, already; you're already boring.

Or go kill some niggers, tough guy, just to show us how wrong edroso is and how tough you are. Kill lotsa niggers, OK, because that's what reality demands, right?

Are do you just talk tough, but are a pussy when it comes to reclaiming your white-heritage superiority?

ripconstitution
ripconstitution

"either marvelously wealthy, or too stupid to recognize"Nah, they're just doing what the Tea Party aka Republican base always does, repeating what they've heard elsewhere in the hopes of someday being invited to the golf course.

Al Swearengen
Al Swearengen

I've heard rumors of that statement before, but the shadowy figure to whom you refer supposedly said that before January 20th 2009, which is the beginning of all written Presidential history.  There are no extant records of previous administrations, which is why everything is Obama's fault.

Horatius
Horatius

Less and less people watch tv news anyway. So, let those old dinosaurs die.

Al Swearengen
Al Swearengen

Judging by the GOP's poll #s right now, I think people know exactly who to blame for this bullshit.

KWillow
KWillow

You seem to thing oil prices going down is BAD?

StringonaStick
StringonaStick

Wow, you mean to tell me that passing a debt deal that removes even more money/demand from the economy is going to hurt economic growth prospects?  And the markets have figured that out?  They must be Keynesians after all! 

Moe Szyslak
Moe Szyslak

Think of the oil companies! Won't somebody please think of the oil companies!

I'm racist waaaah waaah waah
I'm racist waaaah waaah waah

Hide your head in the sand, libtard.  Your lameass "snark" in impotent in the face of the facts of reality!

commie atheist
commie atheist

"I vote for stupid" - hmmm, I just realized that I may have coined the perfect Tea Party slogan.

SFAW
SFAW

They're coming for YOU, moron. I guess you didn't kill them all, "tough" guy.

Although, based on your silly whinings, I bet you can't wait. Something about a lady protesting too much comes to mind ...

Now go kill yourself, you pussy.

SFAW
SFAW

You keep repeating yourself, pussy. 

Watch out! They're coming for you! Better kill yourself before they get to you!

I'm racist waaaah waaah waah
I'm racist waaaah waaah waah

No thanks.  I don't act like niggers do.  You will get attacked by your precious niggers very soon, white-guilt libtard.

SFAW
SFAW

dipshit, clueless, race-baiting imbecile reich-winger.

Now go kill yourself, SFB. Or go kill some niggers, you pussy.

SFAW
SFAW

Gee, I thought you were going to kill all of them, tough guy.

You're a pussy, get over yourself already. Or kill yourself already, SFB

SFAW
SFAW

Yeah, yeah, you're all tough and shit.

Pussy. Go kill yourself, you clueless, fantasy-world moron

Phila
Phila

So I've heard.

SFAW
SFAW

As contrasted with dipshit, clueless, race-baiting imbecile reich-winger.

Thanks for not disappointing us with your screechings. Now go kill yourself, SFB.

SFAW
SFAW

Yes, and your borderline insanity is so potent, I can feel the crazy from      way over here.

Now kindly go kill yourself, SFB.

SFAW
SFAW

Yeah, I hear they were a killer band.

Moe Szyslak
Moe Szyslak

Heh, there was a band called I Voted for Kodos. :)

SFAW
SFAW

Good name for a band, even better name for a website.

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