Monday Crash

So it's Monday and the S&P had downgraded the American debt from our lofty lifetime AAA rating. Our very left-wing media is in a flutter about it, partly because it is a huge blow to their favorite deity, Barack Obama, and party because it puts a giant hurting on the economy of the city of New York, where most of our largest media corporations are headquartered. It's rare for the billionaires who manipulate our nation to suffer any real pain themselves, so the possibility that their blessed holy city might lose some of its luster really alarms them.

How is it that these people didn't see this coming? We were warned that it would happen if our politicians didn't work out some significant spending cuts, and after a long, drawn out meeting with lots of political grand-standing they didn't work out any spending cuts. They only worked out cuts to the increases in spending, which is simply saying, "we have agreed to spend less than we were going to above and beyond what we earn, but we are still going to keep spending more than we earn." They knew when they made that agreement that it would result in us losing our AAA credit rating. They already knew!

So it's 1987 again and our stock market is in free fall. It hasn't fallen as far as it did on a single day in 1987 simply because it had already begun falling immediately after our Congress and our President announced what they had agreed to. Everyone already knew what that agreement meant - disaster.

So here I sit watching my retirement investments going straight to hell and I'm alternately kicking myself for not bailing out of the market as soon as I heard what Congress agreed to and wondering if this is a good buying opportunity. Then again, considering that our current dominant political party has absolutely no intention of cutting its spending habits by one red cent I should probably be considering bailing anyway and just taking the losses I have currently rather than watching them get much, much worse.

Elections have consequences and I won - Obama said this to Republicans when they tried to stop him from spending us into oblivion. America's predominantly left-wing news media quoted him saying this because they were proud of him for telling off the 'right wing.' I wonder how proud they are now?

Elections have consequences and I won

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