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Sunday, August 07, 2011

Stories to Watch: 8/7/11

A couple of thoughts on the Standard & Poors downgrade. First, there was a big market sell-off just before it happened. We should be finding out exactly why that happened, who started selling first, and whether any insider trading went on there.

Second, the "US is headed for a Greece-style meltdown!" fearmongering should officially die. Nations on the brink of financial collapse don't have AA+ ratings from one agency and AAA from all the rest.

Now here's the news...


Finally, broad bipartisan agreement out of Washington. The issue; S&P's downgrade is bullshit.


Steve Benen has a short history of US deficits and surpluses since Reagan. Not at all coincidentally, it's also a timeline of Republican stupidity.


According to the Tea Party, people involved with the recalls in Wisconsin are Nazis and terrorists and embrace a philosophy that has "killed a billion people in the last century." Seems to me that if one sixth of the world's population were killed, someone would've noticed it. Why anyone ever took these clowns seriously is beyond me.


Also in the Wisconsin recalls; Republicans like to complain that they're being attacked by out of shadowy, state groups. But a closer look shows that when they say "attacked," they mostly mean "backed."



Mike Huckabee is an idiot.


Rick Perry keeps threatening to run for president. I think he's already missed his window -- the media seems to be getting tired of it.


As they go home to face their constituents, dems make sure that Republicans face the music for voting to end Medicare as we know it.


Finally, Sen. John Kerry rightly names S&P's action the "Tea Party downgrade."
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