Saturday, March 27, 2010

Obama's Credit rating


Boned Jello

In February, Bloomberg News reports, Berkshire Hathaway sold two-year bonds with an interest rate lower than that on two-year Treasuries. A company run by a 79-year-old investor is a better credit
risk, the markets are telling us, than the U.S. government. Procter & Gamble, Johnson & Johnson, and Lowe’s have also been borrowing money at cheaper rates than Uncle Sam. [Michael Barone]

Put another way, Obama will soon be shopping for us at one of those places that hustles the poor with television commercials like "Own your own computer today - no money down - no credit check -  no hassle! Just pay $179/Mo for 36 months!"

1 comment:

franco said...

The debt is exploding. And here's the big picture.

What do you call it when someone borrows, using the money coming in to pay interest with no intention of ever paying down the principal? A PONZI SCHEME. Bernie Madoff will spend the rest of his life in prison for doing that. How do we hold our leaders accountable? All we can do is vote them out of office. It doesn't seem to be enough.

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