Perry Glasser

Posts Tagged ‘Standard and Poor’

Welcome Back!

In Business, Economics, Economy, Finance, Personal Finance, Politics, Wall Street on August 6, 2011 at 8:48 am

After a long silence, Dollar$ reappears.  It seems the Buccaneers, Wizards, and Weasels have come back in force, aided and abetted by a President who stood for change and whose chances for a second term seem dim at best.

We feel obliged to sort things out.

We need to start with the S&P downgrade of American debt, which is less outrageous than long overdue.

True, S&P is the Wizard-crew that had full confidence in Lehman Brothers hours before the fabled finance juggernaut went belly up, so there may be some question as to whether the gnomes at S&P know how to read a balance sheet, but whether they do or not, the real question for Dollar$ readers is just what that means to them in day to day living.

It means a lot.

The cost of servicing trillions in US debt will go higher. That’s money sucked out of government revenues, money not going to education, healthcare, or even America’s favorite, warfare. We will  now fork  over more dough to oil states and China, the chief holders of  US obligations.

We can get our asses out of this sling if we take our country back from powerbrokers who siphon off 90% of US income to 3% of the population.

  • Insist on a flat tax for all individuals and corporations.
  • Eliminate tax credits for “foreign investments” made by multinationals headquartered in Delaware who do not bring that revenue home for further investment that might create American jobs.
  • Change our national dialogue from being about angels to the quality of American’s fiancial lives.
  • Cap total executive compensation in all US corporations to being no more than 300 times more than the lowest paid full-time employee.
  • End wars by declaring victory and coming home.
  • Invest in US infrastructure, including human infrastructure, aka “education.”
More soon.