Senate to Investigate Standard & Poor’s Downgrade Decision

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A Senate Banking Committee Panel has initiated an investigation of S&P regarding the decision to downgrade the U.S. credit rating. Timothy Geithner & Co. claim that S&P’s decision is based on erroneous information created by human error that overstates national debt projections. As Jeff Berwick notes about this bloated giant, the United States of Default:

There has been no valid option for the US Government for years now.  The debts and obligations are too great to be serviced.  Therefore, there are only two options…

Face reality and default on its debt and reduce the size of the Federal Government by at least 90%…

Or continue to be in a state of denial and head back to the all-you-can-eat buffet…

Ben Bernanke will let you know the choice he will make on your behalf on Tuesday.  If he announces QE3 then it will be death via a massive coronary: dollar hyperinflation.

But, as Alan Greenspan noted just the other day, U.S. Treasury bonds are a safe investment because there is “zero chance of U.S. default” … and that’s because … we can “always print money.”

10:40 am on August 9, 2011
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