“Soft despotism is a term coined by Alexis de Tocqueville describing the state into which a country overrun by "a network of small complicated rules" might degrade. Soft despotism is different from despotism (also called 'hard despotism') in the sense that it is not obvious to the people."
Saturday, August 06, 2011
Don't Blame the Messenger. Time to Slim Down.
Sure S&P is a deeply flawed organization. It would be interesting to see how many of the mortgages of repossessed and foreclosed properties are in AAA, S&P approved debt instruments. The messenger is flawed but the message has a ring of truth. Could anyone deny that the US Congress is anything less than AAA? The Senate under Harry Reid did not even bother to pass a budget for two years.
Has Obama overseen a AAA Administration? The Democrats passed a three thousand page healthcare bill that they did not read.
This is a long overdue wakeup call. Congress is worse than inept. It is hated and corrupt with some of the most stupid people in the country at the helm. Let's try and hold onto the AA.