Latest update: 10/08/2011 

- financial crisis - US economy - USA


Standard & Poors downgrades US credit rating

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Three years after the subprime crisis, Washington is still suffering. Private debt from households and businesses has become public debt, reaching 100% of GDP. Years of tax cuts and increased spending have taken their toll - US growth is expected to be under 1% for 2011. Ratings agencies also believe Washington is not doing enough. Standard & Poors has now downgraded the nation's credit rating for the first time in its history.

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By Mark Thompson
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world riots

by Anonyme - 14/08/2011 - 16:16

Rob a bank and you get 10 years The Bank robs you and they get a seven figure pension.

Factors that contribute to rioting are population size, the breakdown of respect for social order, poverty, the lack of opportunities for personal advancement and Debt.

Today the people that led the world into debt by their corrupt practises within the Banking, Insurance, and Financial sector have been reappointed by President Obama to head his financial team. No one has been brought to justice for the debt all the world is now paying and rioting about.

All the banks had AAA status just before they collapsed from Standard and Poor the same people who have just downgraded USA economy?

University Professors who advised the governments were working without declaring their paid interest for these corrupt banks etc. just before the crash.

If you check the facts you will find a transfer of wealth from the poorest to the top one percent and these crooks are still running all our economies.
This was achieved by getting companies like standard and poor to give false assessments of bad debt which was then sold to our pension funds as triple A.
Whilst ever these crooks go unpunished and are rewarded by huge golden handshakes and top government jobs, riots will get worse.

We all have a remedy it is our vote and a free press.
Make sure you give your vote wisely and all the politicians who supported crooked bankers, insurance companies, are swept from power.
To the press it is time to expose these crooks. Name and Shame

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