RANDY ECONOMY: MY WORLD: BREAKING: Standard & Poor's lowers US credit rating to AA for the first time EVER! What an OBAMANATION!

Friday, August 05, 2011

BREAKING: Standard & Poor's lowers US credit rating to AA for the first time EVER! What an OBAMANATION!

Image via WikipediaOBAMA-NATION!
The United States of America is now officially

in deep financial shit. Around a half hour ago,

Standard & Poors

downgraded the United States

Credit Rating to "AA."

What an "obamanation."

We are so screwed.

Look for madness on the world wide stock markets on Monday.

Here is the OFFICIAL STATEMENT for Standard & Poor's:

"We have lowered our long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA' and affirmed the 'A-1+' short-term rating.

Image via WikipediaWe have also removed both the short- and long-term ratings from CreditWatch negative. The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics. More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.

Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon. The outlook on the long-term rating is negative. We could lower the long-term rating to 'AA' within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case."

LOVE,

Standard and Poors

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Meet Randy Economy

You may know me from my role as the Senior Advisor and Official Media Spokesman for the Recall Gavin Newsom campaign that established a worldwide blitz of interviews. I conducted more than 2,200 media interviews on behalf of “The People’s Recall” during a 10-month period from November 2020 to September 2021. The iconic magazine Mother Jones in a dramatic feature article called me “A ‘Superhero Pirate’ Radio Host, (and) Gavin Newsom’s Strangest—and Most Dangerous—Threat. Meet Randy Economy, the man behind the effort to recall California’s governor.” I appeared on more than 330 media outlets around the world in my capacity with RecallGavin2020. Fox News, CNN, MSNBC, Newsmax, NBC Nightly News, ABC News, as well as the Wall Street Journal, Washington Post, Politico, and dozens of other media outlets aired featured reports on my work on behalf of “The People’s Recall.” I am and will always consider myself to be a journalist. Sometimes I think I bleed ink. My talents as an Investigative Journalists in California earned me FIVE top awards from the prestigious Los Angeles Press Club in 2013, 2014, and 2016. I am tenacious. My reporting over the years has led to the prosecution of several elected officials in California. While working for a tiny community newspaper in Southeast Los Angeles County, I worked doggedly to expose the biggest public corruption case in Los Angeles County history when I unearthed a massive pay to play scheme inside the Assessor’s Office that led to the arrest of then Assessor John R. Noguez and four others. However, politics has been in my DNA since I was a child. I have worked on more than 300 political campaigns as a consultant and advisor since 1982 for candidates from all sides of the political spectrum including Democrats and Republicans, and even Libertarians. I am also a small business owner, serving as the President and CEO of Hot Water Studio & Production, LLC. My company works with media outlets across the state, nation, and world exposing public corruption via several new media platforms. I have also overcome personal challenges. I am legally blind with zero vision in my right eye and only 40 percent vision remaining in my left eye. I sometimes wear an eyepatch due to my failed vision. (Hence the nickname of “America’s Political Pirate.”