Monday, August 08, 2011

Smelly Media: Assuming the readers are ignorant sheep

Puttonen: "U.S. can overcome effects of credit-rating downgrade"

You would expect that one of the biggest news outlets in the country expects its readers also to know a thing or two.

Apparently not...

“It can either save more or boost revenue via tax increases. The US also has a federal bank that is able to print more money if needed,” he adds.

I am ignoring the blatant misrepresentation of the Federal Bank and ist relationship with the US, which actually goes like: "And the Federal Bank has the US for which it can create money out of thin air"; of course free for the Fed does not mean free for the US...

But claiming that printing money to pay off debt is a solution (which will not piss/scare off the lenders and create an economic armageddon around the world) ignores the basic fact that the more money you create out of nothing, the less value your money will have.

Yea, debt will be paid off, right, but at the price of making the Dollar equal to the euro Cent?

What a solution.

“If politicians can clearly state what their intentions are in the years ahead, then it’s possible that credit ratings could be raised,” Puttonen concludes.
With most politicians, one has to remember their first line of duty is to votes. What is right for the politician is what will get the politician more vote. This is not necessarily what is good for the society.

Ah, eliminate universal suffrage, allow only the productive/tax payers to vote, then maybe the relationship between votes and the good of society will be more connected than the two sides of a rift, like a rope bridge.

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