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expatriate's picture
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Bond Rating Cut

Well, it's official.  The nation that spread capitalism throughout the world and dominated the world economy for decades is now a bad credit risk.  Reagan's shining city on a hill is now a trailer park.

I've found myself explaining to my kids what America used to be like...a country that built the tallest buildings, achieved the highest things, and led the world at everything.   I've tried to describe what it felt like to live in a country where everyone knew we were the best at everything.  And when I do, they look at me with an odd expression...they just can't imagine it, and seem to have a hard time believing me.

Yep...we definitely got change.  But I don't see a lot of hope.

http://www.washingtonpost.com/business/economy/sandp-considering-first-d...

CVC
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Joined: 03/04/2006
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The Problem As I See It

The problem as I see it is that we've abandoned our Triple Crown mentality and have adopted a handicap race one.

By this, I mean there was a time in America that we respected winners that dominated and we aspired to be like those winners even if we knew it was only a dream. We wanted to see that horse, like Secretariat that dominated and embarassed all the others with his greatness. Now, we want to level the playing field by saddling the great ones with extra weight like they do in the handicap races.

Yes, this gives other horses a better chance at winning, but not because we've made them faster, only because we made the potentially great ones slower. All around us we have nations who still embrace the Triple Crown mentality and who we have to compete against while saddled with dead weight.

We have to get back to basics and respect winning again. No more leveling the playing field. Yes, everyone deserves an opportunity but no one deserves a guarantee of success. We must understand that it is okay that some will get left behind while others surge ahead. Don't hold our best and brightest back in school to avoid making some feel inferior. Doing so doesn't ensure that the less bright will ever achieve success it only places those that could succeed at a disadvantage.

Life isn't fair. The world is not fair. While we're dumbing down America other countries are preparing their citizens to win.

We need to abandon the idea that losing is okay. It isn't. Once I was congratulated for a second place finish. They couldn't understand my comment, why - I lost? If 2nd is good enough for then you're content to be a loser and I am not.

BikerRN's picture
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Agreed

CVC,

I happen to agree with you.

The "everyone gets a participation medal, and we are all winners" mentality of the socialist has finally drug us down. History has shown that all great civilizations have perished. Sadly I believe we are living in the days that America perished. 

While our land mass will be here, and we may even be called the United States, we will be but a shell of what we once were. If one took the time to study the past they would see where we are headed, and I don't think it's a pretty picture. Over a few generations things will iron themselves out, but at what cost? Some civilizations have evolved and risen again. It remains to be seen if America can do the same.

Biker

CVC
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The debate regarding the debt

The debate regarding the debt ceiling provides an insight into America's state of mind. It is amazing how so many, including John McCain, have attacked the tea party. Now, I don't agree with everything about the tea party, but I respect them for fighting hard for what they want and not compromising.

Sure, compromise is sometimes needed, but you also have to stick to your principles and stand firm in your beliefs. There was a time that standing firm and strong in your beliefs was respected and now it is attacked and mocked.

bitmasher's picture
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Ironically it seems that the

Ironically it seems that the rating cut had little effect on t-bill purchasing, with some very low rates offered last week during the market zig-zagging.  

groovy mike's picture
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100% right that we have to – get back to basics.

You are one hundred percent right that we have to as a society – get back to basics. The trouble is that the masses have no idea what the basics are or how to get back to them. You are right that there is far too much entitlement and safety net attitude that guarantees that you sleep in a dry place and have food to eat thanks to a check from the government no matter how criminal, or lazy or irresponsible you are. Everyone does deserve an opportunity for success, but it comes with an equal or perhaps even greater opportunity to fail and that failure has this strange concept called consequences. We are a failing society. We are ancient Rome, with the same timeline. The circuses have run out of bread. The masses are uneducated and crave nothing but entertainment – getting angry when they are not provided it for free. I agree that the debate regarding the debt ceiling provides an insight into America's state of mind. It amazes me how anyone thinks its ok to have an ever increasing debt. Don’t you feel an obligation to pay your debts? All of them? Aren’t you ashamed that you are not earning your own keep? The time of standing firm and strong in your beliefs was a time when there was pride in independence and self sufficiency. A time when a child that stayed home until you are forty years old was considered a failure and a time when if you failed to take care of your elderly grandparents you were considered lazy and selfish. There was something else that was common at that time. It was something basic that we need to get back to. It was a personal responsibility for your own actions and the ultimate understanding that you were responsible for being wealthy or poor, fed or hungry, loved or hated – yes good or bad. It is something that is beyond ethics . It is called morality and it is based on the knowledge that God has created us and God will judge us. Everything else is meaningless. That is the knowledge that we need to get back to. That realization is the ONLY opportunity that this nation has for anything except the slow spiral into the toilet that is already spinning.

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