Tag Archives: Standard and Poors

Another trillion dollar transfer to the rich…

Well…by now you’ve heard that S&P has downgraded the US credit rating and I can’t figure out if the tea partiers are the most stupid bunch of politicians in the history of this country or they are the most brilliant…running the longest and most Machiavellian con ever on the American people. With this downgrade, the cost of borrowing for everyone who has a mortgage, credit card, or car loan is going to go up with the cost to the entire economy being almost a trillion dollars over time. Now you could call the tea partiers stupid for making this happen with their antics on the debt ceiling debate (and the failure to consider raising taxes was one of the primary factors in the downgrade)….but I see a darker theme….and I’m going to wade into the swamp of conspiracy theory here for a lark. What if this is what they planned all along? Who benefits from higher interest rates? The rich and corporations who make money lending….so the tea partiers won’t have tax increases on the rich, then with their nonsense in the debate, they essentially raise taxes on everyone else by the higher interest rates that result from the downgrade. They’ve taken another trillion dollars out of the middle class and given it to the rich and corporations….now who is going to buy the goods and services that keeps the economy moving? Stupid, Stupid, stupid….