Interesting piece of satire by Reich to make a point.

Reich does a 'cute' job of describing what happens at each downgrade, but he fails to question the actual downgrade. (maybe that will come with his next video, i dunno)

When will he ask if there might be a small group of businessmen who are 'deliberately trying to trash the US economy', while at the same time making obscene amounts of money? btw - "someone placed a $850 million bet in the futures market on the prospects of a US debt downgrade, and now stands to make a 1000 percent return on their money".

Ellen Brown does a much better job of asking questions about 'the dubious S&P downgrade' and the resultant roller coaster ride on the market (which some folks raked in massive profits) Thank God for people like her who question the behind the scenes mugging, instead of blindly accepting it (and then making 'cute' videos about the affects of the mugging.)

Check out Ellen's article here:
http://dissidentvoice.org/2011/08/
sp-and-the-bilderbergers-all-part-of-the-plan/#more-36130

Now maybe people in the States understand how people in Greece, Italy, Portugal, Spain and Ireland feel. Before it hit the US, comments were like "well if you Europeans cannot face the truth, that's your problem. Rating agencies (all key ones are US owned) are just like wolves weeding out the sick sheep". Sure, these countries have overspent, especially Greece has created an insane welfare state so laden with bureaucracy that only corruption can move things. Nevertheless, rating agencies played a game for the finance sector and the wealthy to exploit every turn to their financial advantage.

Now it effects the US and everybody is up in arms. Fortunately, but do not make the mistake of considering it just an unfair act by S&P against God's (only?) country, the US. There is a system behind, which has only one intention: It wants to get all of your money.

thanks, Eric.A.Blair, for the url. i'll follow up rifgt after i save post.

reich is correct that we need both a "quick fix" accompanied by plans for the long term. i'd prefer to see state legislators working with local bankers and credit unions promote smaller local businesses to kick out the monopolies who deposit their profits from distant cheap labor far, far away. too many people yet believe that mall*wart helps us save money. it's their profits they wish to save while the ad men schmooze the shopper into buying the same replaceable cheap products over and over. ka-ching! the mass merchadisers have learned that cutting back on quality makes inefficiency profitable. brings the customer back sooner than he'd hoped! yes! we do need governments at all levels investing in needed infrastructure, but if we cannot direct this windfall toward building a diverse local business community, the construction crews will have no choice but to take their earnings to mall*wart ( a goldman suchs subsidiary) to be sucked right back up, up and away. for years now congress has developed the ability to create a "quick fix" which attack the symptoms while unable to hone in on the cause. sweeping the problems under the rug "until the "quick fix" gives us more stability--sometime after election next.

glad to see this satirical video mention china. our veep, biden, just this week conducted a public relations visit. the "to save face" public view suggests that we two biggest, strongest economies should work together to help, greece, europe, the mid east et al. i do suspect that our v.p. put on his humble face to beg extended credit. joe met not with president hu, but a man most likely to be the next political leader. for some strange reason the media makes little mention of this p.r, trip. i caught a bit about the sports fistafications with a side comment, "even more embarrassing because the melee coincided with biden's visit." then off to the next weapon of mass distraction news story. that was thursday. on friday i heard an update from the international sport's arena, but mum's the word from the international political area. boy! that intrigues my suspicious mind, but i wonder, am i the only one?

i know what! if the chinese won't play nice we can take away their "most favored nation trade status. that'll show 'em who's boss!

ROTFLMAO!

I didn't know Reich is so very funny.

Best explanation in years.