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45 comments on Fiscal Unsustainability
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45 comments on Fiscal Unsustainability
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GAIA Host Collective
or
http://www.google.com/search?hl=en&lr=&q=%22country+ratings%22+standard+poor+fitch+moody
or google ("country ratings" standard poor fitch moody)
There are only 3 credit ratings groups and they are all based in the USA. They will never down-grade the USA rating. They all have a conflict of interest. If they down-grade the USA they will lose money.
The only hope is that the foreign banks and stock markets will start converting reserves into Euros but with USA using its military to keep its currency strong this will not happen.
No goverment (state or fed) will ever balance the budget and no lender (foreign or domestic) will call in its money on the USA. The federal debt will get larger because that is the way the rich people rule the poor.
And it helps the greedy (both Dem and Repub) cut social programs, dismantle social mobility, keep the poor people poor and keep the rich people rich.
To keep the USA curreny strong is it easier to start a war than to raise taxes.
I like to call it quiet classism.
put foreign farmers out of business. Here are
some dumping articles:
http://www.globalpolicy.org/socecon/trade/subsidies/
WTO, world bank and IMF all help keep poor
countires in debt and subservient to the
current power structure. Here is a book about
poor country debt:
http://www.thirdworldtraveler.com/Globalization/Economic_Hit_Man.html