Monday, August 08, 2011

Why worry?

S & P rates the U.K. Ger. Canada AAA., AA+ for U.S. Belgium New Zealand, AA for Spain. Why worry? Socialist countries like U.K. and Germany rate higher and a bankrupt country like Spain rates slightly lower than we. Fitch and Moody's hasn't spoken (yet, )but ratings are meaningless. Obama as our debt man walking still parades like a Colossus upon his self-reverential stage.

During WWII, we could afford ships in our fleet that consumed 300 gallons of oil per hour. Our rating was AAA. In Dec., 1944, a typoon in the Pacific, sank 3 ships with a loss of 700 men. We afforded their sacrifice. Our rating was AAA. Recently 31 Seals were shot down in their Chinook helicopter by our enemy, the Taliban. Our current rating is AA-. And our fearless leader wants to reduce our dependence on oil. What CAN we afford?

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