Tag(s): ; ; ; , Add Tags
Add to My Group(s)

Must Read 2   Valuable 2   Well Said 1   View Ratings | Rate It

Permalink
View Article Stats      (7 comments)

Did The American People Lose Their Triple-A Credit Rating or Was It Stolen?

Add this Page to Facebook!
Submit to Twitter
Submit to Reddit
Submit to Stumble Upon

Tell A Friend

Become a Fan
Get Embed HTML Code
By (about the author)

Become a Fan Become a Fan  (4 fans)   -- Page 1 of 2 page(s)

opednews.com


Tony Benn - photo by Wikimedia Commons


They were saying on the BBC News (UK TV) yesterday morning that the US has 'lost' its Triple-A credit rating.  I wondered what they meant, 'lost' it.  That sort of thing doesn't just drop out your hip pocket. 

When I was a boy, if I went home to my Mum saying I'd lost something, she'd ask, "Where did you leave it? When did you last see it?  Think back!  What were you doing at the time?"

"A couple of big boys said they'd look after it for me, and then they started playing Pig-in-the-Middle with me." 

"Get right back out there and take it back off them then!"

"They keep throwing it over my head, and telling me to jump higher."


"Why didn't you report it to teacher?"

"Teacher says they're too big to discipline."

"Where is it now?  Do they still have it?"

"Yes, they say I can have it back, if I give them my dinner money every day until - forever."

"That's extortion!"  "You haven't lost it!  They stole it!

I agree with Mum.  I think there's a difference between losing something and extortion, and I think we ought to take account of that before we chastise ourselves or let anyone else tell us that that's what we ought to do. 

Besides, if we let people take something from us because they said they would do the right thing and that it was the 'only way', and we trusted them, our wisdom might be in question, but not necessarily our honesty.  If they say we must jump higher, or they'll give it to those who can jump higher than we can, we might be unwise to go along with a game that neither our competitors nor we can possibly win.  Maybe we should've known that they were beyond the pale - but that doesn't make us responsible for their behaviour.  However, we do have a responsibility to learn from the experience and to do our utmost to redress the situation for the benefit of future generations and out of respect for previous generations who struggled so hard, to benefit us.

UK politician Tony Benn spoke the following words in The House of Commons in the early 90s.  He was one of the few who never sold out on his principles, even after the majority of his colleagues and party members in the UK Parliamentary Labour Party did, abandoning much of the founding principles - just to ingratiate themselves with an unelected clique, who held the strings to their puppet power: 

"These are assets built up by the labour of those who work in (electricity) and by the tax payer who put the equipment in.  Now to be auctioned off at half their price, to make a profit, for a tax cut for the rich, before the next election comes.  If these were local councillors, they would be before the courts for wilful misconduct.  And because they are ministers and then some of them later go on the boards of the companies they've privatised, they are treated as businessmen who know better how to handle it as members of  the Board of Directors than allegedly they did as ministers responsible." 

http://wn.com/Tony_Benn_-_The_issue_is_Thatcher

Next Page  1  |  2

 

David McBain (amillar) wants people to read his articles and blogs. He was born in Glasgow, Scotland, in 1948, one month before the start of the National Health Service (NHS UK) and fears now that he will outlive its usefulness to future (more...)
 

The views expressed in this article are the sole responsibility of the author
and do not necessarily reflect those of this website or its editors.

Contact Author Contact Editor View Authors' Articles

Follow Me on Twitter

 

Share this page: (what's this?)                   Tell a Friend: Tell A Friend

Add this Page to Facebook!      Submit to Stumble Upon      Submit to Reddit      Add This Page to Mr Wong!           NEWSVINE      DEl.ICIO.US      Looksmart Furl      My Web      Blink List     (More...)

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
7 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

Triple-A rating, who says? by David McBain on Tuesday, Aug 9, 2011 at 2:11:54 PM
Stolen by Howard Schneider on Tuesday, Aug 9, 2011 at 2:19:35 PM
"F" Standard and Poors by David McBain on Tuesday, Aug 9, 2011 at 3:40:18 PM
The Essence Of The Banking Industry by Richard Scott on Tuesday, Aug 9, 2011 at 5:41:47 PM
"Debt incumbent homeowners don't go on strike." by David McBain on Wednesday, Aug 10, 2011 at 7:59:51 AM
The Tea Party Wanted a Downgrade...And They Got It! by Jillian Barclay on Tuesday, Aug 9, 2011 at 9:59:51 PM
When we become perfect by David McBain on Wednesday, Aug 10, 2011 at 8:04:05 AM