The Bear’s view of the global economic crisis

Anglo finance on the march

First, Goldman Sachs, the vampire squid rapped around the face of all humanity, early on, helped crooks in the Greek, Irish, Portugees and Spainish governments hide their debts, for a price, knowing this will undermine the Euro, when the Anglo sponsored con game falls. When these nations started to fall, but were not enough to topple the Euro, stage two started.

Stage two came into effect this week, when US rating firms started a mass devaluation of the credit ratings first of Greece, than of Portugal and now of Spain, with Ireland, Iceland and Itally on the horizons.

Now, two questions are obvious: one: if these nations deserve to be down grades, whey are the US and UK still enjoying AAA ratings? The UK deficit, after nationalizing half their banking system, is 12.6%, .1% less than Greece. The British are printing cash as fast as they can, while their zero interest rate is bankrupting their own seniors. But they have a AAA rating?

And the Americans? Hell, a nation that has present and future debt obligations of over 500% of their GDP, who is running deficits 150% higher than their budget is AAA? A nation that is a debtor to every third world hellhole in the world, while running only one industry: military, and importing everything else, is AAA?