Monday, August 8, 2011
The economy is neither good nor bad but spin makes it so
We can rest assured that it will all be OK. Warren Buffett has said we're a AAAA rated nation in his non-partisan and entirely objective opinion. Besides, we are now being told that S&P's royally sucks anyway, is incompetent and nobody really cares what it thinks (as opposed to about a week or so ago when we were told we had to do anything to keep S&P from downgrading our credit rating). Plus, President Obama has assured us that pundits are correct, and we are still a AAA country, since S&P and any downgrades don't mean anything. And let's not forget, Barney Frank said that S&P was wrong anyway, since even had we missed the deadline last week, it shouldn't have mattered since we had plenty of money to pay our bills for some days afterwards. So you see, all those weeks we heard how we had to come up with a deal or else the end of the universe would happen because S&P was threatening to drop our AAA rating, turns out to have been for nothing. Of course it does leave us with the troubling, nagging question that if all of those saying we were going to die if our rating was slashed and the deadline was missed were actually wrong by their own admission, then doesn't that mean they could be wrong this time? Nah. I wouldn't worry about it. No matter what happens, we can take comfort in knowing that it was all the Tea Party's fault anyway.