How will Wall Street respond to Moody’s threatened downgrade of the US debt status if the debt ceiling isn’t raised?
::peeking through fingers at DJIA::
Whew. Looks like a few other good numbers blunted any actual Moodygeddon today, but Ben Bernanke put a chill through their bloomers.
::peeking through fingers at NewsCorp::
Really? It’s flat for the day? Are you Wall Street rats so ideologically driven that you’ll hold that stock even as the company implodes from the top down? Even after this breaking news that the FBI has opened an investigation into NewsCorp?
I guess we won’t be seeing any stockbrokers jump today, so here are some Angry Black Links for your enragement instead!
- All your base are belong to us. I have a message for Adam Green, Jane Hamsher, Joan Walsh, from the people of America. You are not the base.
So, Obama can rake in the big bucks—no surprise there. The real story is the 552,000 donors who gave to the Obama 2012 effort, “more grassroots support at this point in the process than any campaign in political history,” said campaign manager Jim Messina in a video message to supporters. Messina said that 98 percent of donations last quarter were under $250, and that the average donation was $69.
- Where do all these shitty laws come from? Friend of ABLC and proud Obot Karoli at Crooks & Liars opens up a can of whoop-ass on ALEC, and we’re not talking Baldwin brother here. These are the shadowy folk who write corporation-friendly legislation and feed it to GOPers around the US to fuck up our democracy in all 50 states. Why are they so important?
This is why, by the way, idiots like Sarah Palin and Michele Bachmann can actually run for office and get serious support. They’re just the marionettes behind the real policymakers, just like Governor Bighair in Texas and Governor Gollum in Florida.
- M. S. Bellows wins today’s Fraction Award for breaking it down like one with his post It’s The Election, Stupid: How Obama is Leveraging Debt Ceiling Negotiations to Win Reelection and Regain the House.
Since Ronald Reagan’s election in 1980, the G.O.P. has had a very good run in Washington: they have persuaded Americans that “liberal” is a dirty word, retained the “fiscal conservative” moniker despite octupling the national debt, and rebounded after presidential setbacks in 1992 and 2008 by exploiting Clinton’s and Obama’s nonexistent “coattails” to gain impressive new Congressional majorities. But while the conservative juggernaut has been formidable, the Republicans have made three blunders in the past thirty years that exposed their vulnerabilities and knocked them profoundly off their pace.
- The GOP has only themselves to blame. Joy Reid reminds the GOP that actions have consequences in her post The Wall Street party, trapped in the madhouse. Or as I like to say it, if you lie down with dogs, you wake up with rabies.
Wall Street and big business bankrolled the tea party in order to put tax cut and deregulation-friendly Republicans in control of Washington. Now, they’re reaping the whirlwind.
When you’re looking for strength in numbers, opening the doors to the madhouse might seem like an efficient way to give your side a numerical and adrenaline boost. But once they’re out, good luck controlling the crazies.
- Are you a dumb motherfucker? Probably. If you hadn’t heard, Jane Hamsher had a melt down today and called “ardent” Obama supporters “the dumbest motherfuckers in the world.” Deaniac83 at The People’s View points out that over a half million Americans are dumb (as opposed to “the dumbest”) motherfuckers, and if you’re black, there’s a whopping 83 percent chance that you’re a dumb motherfucker. Welcome to Team Dumb Motherfucker. Have a cocktail.
- This should infuriate the Poutrage Posse. Smartypants asks Can Mandela help us understand Obama? and draws from a great article written by Mandela associate Richard Stengel on Mandela’s eight lessons of leadership.
What I will say is that some of the very progressives who lionize Nelson Mandela as a great leader, criticize Obama for these very same leadership qualities. How very short-sighted of them.
Share stories and blog posts you liked best in the comments, and you might see them turn up in tomorrow’s Angry Black Links.