Monday, August 08, 2011

How much trouble is America in? A lot.

Two more editorials describe the current state of American politics and its economic ramifications.

  1. Credibility, Chutzpah and Debt Here Paul Krugman points to the idiocy of Standard and Poors senseless downgrading of the US treasury debt. It should be noticed that the international stock markets have been all over the map since they opened Monday, and where did money looking for safety and security go? To US treasury debt.
  2. The Bad Deal University of Texas professor James K. Gailbraith points out that Obama is not only not a Progressive, he is in fact a conservative who is working league with the American conservatives and with the Pete Peterson Foundation to destroy the American middle class and the two programs that support it most, Social Security and Medicare.
Compare these two well-written editorials with the one Tom Friedman wrote about America's slow decline and you can see that America is in real trouble.

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