How the US Govt works
If you understand how
the US Government works then you realize that there is no problem with Debt
ratings downgrade :
It is the month of
August, on the shores of the Black Sea. It is raining, and the little town
looks totally deserted. It is tough times, everybody is in debt, and everybody
lives on credit. Suddenly, a rich tourist comes to town. He enters the only
hotel, lays a 500 Euro note on the reception counter, and goes to inspect the
rooms upstairs in order to pick one. The hotel proprietor takes the 500 Euro
note and runs to pay his debt to the butcher. The Butcher takes the 500 Euro
note, and runs to pay his debt to the pig grower.The pig grower takes the 500
Euro note, and runs to pay his debt to the supplier of his feed and fuel. The
supplier of feed and fuel takes the 500 Euro note and runs to pay his debt to
the town's prostitute that in these hard times, gave her "services"
on credit. The hooker runs to the hotel, and pays off her debt with the 500
Euro note to the hotel proprietor to pay for the rooms that she rented when she
brought her clients there. The hotel proprietor then lays the 500 Euro note
back on the counter so that the rich tourist will not suspect anything. After
about an hour inspecting the rooms, the rich tourist comes down, and takes his
500 Euro note, saying that he did not like any of the rooms, and leaves town.
No one earned anything. However, the whole town is now without debt, and looks
to the future with a lot of optimism. And that, ladies and gentlemen, is how
the United States Government does business...
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