Scene: Zolltan, me and some of our friends at a beach. We’re approached by two hippies, one guy and one girl, who are passing through on to the next beach. Both are topless. The girl’s half-Asian and kind’ve cute. She bums a cigarette off one of our friends and informs us she’s on shrooms. Someone says the word America and the hippie girl suddenly yells out “Fuck America.” Without any prompting, she proceeds to lambast America for losing its AAA-ranking from S&P. She opines one the negative effects on the US Dollar. She expresses concern about her mother’s substantial US dollar-holdings and potential negative returns her mom could suffer come Monday. Every second word is Fuck. They go. End scene.
All this happens in 5 minutes. I’m momentarily stunned. What a world we live in where topless hippies on shrooms discuss the aftermath of S&P downgrading the US and the consequences, geopolitical and personal, that arise there from.
Thank you, Tea Party.
I’m not going to opine on if S&P made the right call or not. But the flak they’re taking is misdirected. It never was about America’s ability to pay. Its about the willingness. The political brinkmanship on display has been breathtaking in its stupidity and ignorance (displayed by all sides, but especially the Tea Party). Now would be a good time to read Christophe Chamley’s article on the Spanish Default over 400 years ago, one from which Spain still hasn’t seemingly recovered. I encourage everyone to read it.
The press release put out by China’s official news agency Xinhua decrying America’s debt addiction and short-sighted brinkmanship is very un-Chinese-like and hearkens back to Saturday Night Live’s all-time fantastic skit, the Hu Jintao-Barack Obama interview.
Is somebody’s trillion-dollar treasury hoard going to be devalued come Monday? aww… is the ouchie painful?