We’ll always be a AAA country, because we’ve always been a AAA country
That is the logic of our esteemed president, Barack Obama.
This is why we elect leaders, so that during tough times we have someone in a position of authority who is not afraid to look us straight in the eye and read hollow mantras from a teleprompter. Obama is not in denial, he is just looking to impose a positive outlook onto the gloomy future at which we all seem to be staring.
The President strode into the press conference to reassure the markets after the downgrade in the credit rating of the United States by the S&P. Unfortunately, the market was not paying close enough attention to understand what the President was doing. During the press conference, the DOW plunged anther 300 points to end the day over 600 points lower.
It seems that just saying “We’ve always been and always will be a AAA country” does not have the logical fortitude that financiers are looking for.
Perhaps those dimwits who don’t care for what Obama has to say will listen to Warren Buffett who insists that the United States should have a AAAA rating. After all, he has no interest in seeing the stock market recover from a near-historic crash. He’s just telling it like he sees it.