Do credit-rating agencies have ANY credibility anymore? Are global economies recovering?
By Daniel at 8 December, 2009, 3:11 pm
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
Didn’t they fail doing prudent due diligence when they rated all these sub-prime mortgage backed securities AAA? If anything Fitch’s, Moody’s and Standards and Poor are at least complicit in this disaster. They NEVER asked the tough questions, which was avoided, at all costs. How can investors seek a safe-haven in this market when we do not know all the facts? Furthermore, who in their right mind would invest in their hard earned money in a company with a P/E over 30? The only way is to make any sort of meaningful ROI is on stock price appreciation and in this market nothing is certain.
The real questions you must ask is are global economies recovering? Using the term loosely, yes they are but is the growth sustainable? What will be the catalyst that saves America? With the small business sector of America still ailing from the economic shock wave of 2008, corporate America is happy to gain even more market share and purchasing power. What it boils down to is these multi-national institutions and other for profit entities namely, fortune 500 companies that are the real puppet masters pulling all the strings. Whether it be Goldman Sachs, JP Morgan, Exxon, or Pepsi they all railroad legislation through as they see fit. It’s one of the key reasons why we are in this recession right now too much greed, stupidity, arrogance, and bankrolled politicians who only care about surviving till the next election.
When President Barrack Obama was sworn in as our nations 44th President, he called for an “A New Era of Responsibility” (you have to love the irony). Apparently, we were supposed to move from an era of borrow and spend to one where we save and invest. He also called for more transparency and accountability not only from those in Washington but on Wall Street (so far I have not seen any). The president called for greater investment here at home, less reckless government spending and the people of this nation to unite behind a common good and live out the true meaning of its creed. Can America endure what storms may come in the New Year? Will the people finally wake up and realize that we are being sold out, robbed of trillions to fund corporate “super elites” and those who engage in manipulation or exploitation of the economic environment? Those who still desperately cling to power through corruption and deceit continue to destroy the very moral fiber that has made this the greatest nation on earth.
As a consequence of allowing corporate America to high-jack and railroad legislation through the congress as they see fit, we have neglected investment here at home. National output and technological advances that could have saved us long before I was even born (1986) were restricted by dominant business and other monopolies at the top. It is these business that have complete control of political power and pull all the strings. No governmental plan should impose its restraints against your will. No government should suppress the facts that the people rightful need to know.
To overcome this burden that has shackled the American people will trillions in debt, it will require a change in outlook, a change in tactics, and fundamental changes by the government, by the people, by every businessman/woman mother and child. Mistakes by this administration MUST be headlined, not buried. Corruption must be exposed not hidden and public official’s arrogance and neglect for the constitution must be exposed. Why should we have to dig up the dirt? Why is the media in cahoots with this administration and their buddies on Wall Street?
- ImpendingDoom
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
No comments yet.