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Thursday, July 14, 2011

Guest post: Today is the day, Washington

"I don't want an actual downgrade but I want Moody's to make noise about a ratings cut. I want the threat for the same reason I loved Bernanke calling the impact of a debt default a potential "calamity" yesterday. I want as many voices as possible telling Washington that pushing us towards a fiscal nightmare is unacceptable. Defaulting on our debts isn't about just a few people missing checks versus a few millionaires paying more taxes anymore. It's about national pride and our word being our bond. It's about all of us becoming deadbeats. Say what you will about Moody's past ineptitude; no matter how much you abuse ratings agencies I've almost certainly said something worse. But this time Moody's got it right. This summer, this moment, is a rare time when Americans can bond together and speak with a united voice. Join Moody's, stand with Bernanke, and link arms with me as we figuratively point our faces at Washington DC and rage against the political machine. Call your Congressmen and Senators. Tell him or her to just shut-up and do whatever needs to be done so America can avoid becoming a fiscal banana republic. Make this paralyzing national debate go away by avoiding a default and resulting downgrade. Get your act together or get sent home in 2012. It's really that simple." --Jeff Macke, "Breakout" Financial Blog Link: http://finance.yahoo.com/blogs/breakout/upside-usa-downgrade-threat-145945942.html%20;_ylt=AsrWvPtvA8hIVcm7YrA7ELy7YWsA;_ylu=X3oDMTE1ZWVyMms1BHBvcwM5BHNlYwN0b3BTdG9yaWVzBHNsawN0aGV1cHNpZGV0b2E-?sec=topStories&pos=6&asset=&ccode=

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