Kamis, 14 Juli 2011

Ron Paul Says AAA Rating Not Worth Saving, Interactive Map of Income Distribution in the World, and Deadliest 6 Months for Civilians in Afghanistan

Like I have continued to say, the big 3 credit rating agencies are garbage when it comes to making accurate credit ratings when it matters.  Ron Paul agrees with me today on Bloomberg:


Paul on whether the AAA rating is worth saving:

"Probably not. I think if you had a market evaluation on this issue, it should have marked down a long time ago. I always wonder about these ratings. Bond ratings before the crash three years ago were not very helpful. Sometimes I wonder whether this is more of a political theater to build up the fear. First, we won't be able to write the checks for Social Security and the next thing there'll be a down rating of bonds."

"The market does the final rating. I think our solvency in our dollar is better rated by the price of gold rather than what Moody's will say. In the short run, what Moody's does will have an effect."
We are technically insolvent as far as paying our liabilities long term goes, yet we continue to have a AAA rating.  Hence the need to not trust what the big rating agencies say.

National Geographic has a very interesting map on income distribution in the world, click on it below to go to the interactive part:
At the very least, the picture is aesthetically pleasing.

Our wonderful Commander in Chief who also was a recipient of the Nobel Peace Prize has another record to be proud of:
The first six months of 2011 were the deadliest for civilians in Afghanistan since the war began in 2001, a UN report has found.
The country saw 1,462 civilian deaths in January to June, a 15% increase on the same period last year.
And yet liberals won't support the one anti-war candidate running for president because of the R next to his name. 

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