Yesterday evening, the S&P credit rating service downgraded the debt of the United States from AAA to AA+.
The financial websites have gone ballastic, blaming the rating agency for playing politics. Many websites are reminding visitors that S&P missed the entire housing bubble, that there was a mistake in the company's rating data, and on and on.
The government's response has been accusatory. CNN and Fox News are attempting to find any evidence they can about who knew what when. Rupert Murdock is probably at this very moment hacked into Blackberry's across the country.
The Republicans are blaming the Democrats and the Democrats are blaming the Republicans. It is complete and utter stupidity!
The simple fact is that the credit rating of the United States was not downgraded yesterday, the American people were downgraded.
It is the American people that for decades have simply bent over, stuck their collective rear ends in the air, and ask the politicians for more.
We, ALL of the eligible voters in America, we, have allowed every bit of what is happening to happen.
We have allowed government to spend us into the poor house. We have allowed government to "borrow" all of the money from the Social Security Trust Fund. We have allowed governent, to do the things they have done, and we have gladly accepted it all.
Now that the demise of Uncle Sam has begun, the politicians are jumping up and down blaming one another, the cost of money will probably increase, any economic recovery will probably come to a halt, and the American voter will remain completely uninterested in the process.
Oh!, we American's will bitch, since Americans' view being able to bitch as a fundamental right. But that is all we will do, bitch, because we simply will not put for the effort to hold government accountable.
And so it will continue, until eventually...America is no more.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.