posted August 07, 2011 11:59 AM            

So, Standard and Poor’s went ahead and downgraded the United States yesterday, apparently because we have a dysfunctional political system. Who knew?

S&P has downgraded the U.S. because it doesn't think we’re on track to reduce the nation’s debt enough to satisfy S&P — and we’re not doing it in a way S&P prefers.

quote:

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S&P’s intrusion into American politics is also ironic because, ... much of our current debt is directly or indirectly due to S&P’s failures (along with the failures of the two other major credit-rating agencies — Fitch and Moody’s) to do their jobs before the financial meltdown. Until the eve of the collapse S&P gave triple-A ratings to some of the Street’s riskiest packages of mortgage-backed securities and collateralized debt obligations.

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"Republicans repeatedly assured the nation that once the debt-limit deal was done – capping spending, cutting the budget deficit, and getting “90 percent” of what they wanted — the economy would bounce back.

Just the opposite seems to be happening."

It was never a debt crisis. The debt crisis was manufactured. It’s been a jobs, wages, and growth crisis all along. And that reality has finally caught up with us.

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*Update

posted August 07, 2011 04:36 PM            

Part of what the S & P wanted to see was a better plan, which did include revenue increases, but the primary factors were the size of our deficit coupled with the government's inadequacy in dealing with the problem.

posted August 08, 2011 11:20 AM            

On August 8, Venus and Saturn increase your sophistication and charm. Milk this for all it's worth and keep these energies going as long as possible. Why? Because you'll need everything in your arsenal once Mars squares off with Uranus on August 9 before opposing Pluto on August 11. Both of these transits will build up well beforehand, so you may feel their effects as early as now.

By August 9, you'll definitely notice the disruption that Mars and Uranus have brought; Mars and Pluto, meanwhile, will leave you feeling trapped. Tensions will run high, technologies will be on the fritz, and accidents will be more common than usual.

Fortunately, even the trickiest of transits can be overcome! As always, take time out to breathe deeply. Be cautious in general and keep your anger in check, no matter the provocation. Most importantly, don't let anyone walk all over you -- and be equally careful not to step on anyone else's dreams. Hard as it may be to find at a time like this, middle ground indeed exists!