We only have to look back to see what we do not know!

We now have the debt-ceiling hassle behind us. There is still a lot of ink being expend on the future and very little on the past. A lot of things have been over looked either on purpose or through ignorance.


Dr. Milton R. Wolf who is a board-certified diagnostic radiologist and cousin of President Obama writes in his: “Liberals’ unmaking of Barack Obama President enters predictable free-fall from godlike to Carteresque”

(Washington Times -Tuesday, August 2, 2011)

Dr. Wolf calls attention too how Obama’s approval ratings have dropped and how: “The hope and change of 2008 have given way to the joblessness and foreclosures of Obamanomics.”


Of course this has not been mentioned in The Telegraph. In fact there have been no poll numbers in The Telegraph since the scam job they ran on the front page of the May 12 edition. If you recall that was the “60 percent” scam.


This is in great contrast to the daily diet of poll numbers The Telegraph fed everyone prior to the last presidential election!


The article goes on and explains that: “To claim Mr. Obama has been a good president no longer even remotely passes the laugh test.”  Dr. Wolf then points out that:

• "Two million-private sector jobs have been lost."
• "Unemployment jumped from 7.8 to 9.2 percent with a simply terrible 2011 first-quarter economic growth rate of just 0.4 percent."
• "A record 1 in 7 Americans is on food stamps."
• "Gasoline prices more than doubled, from $1.83 to $3.74 per gallon."
• "National debt increased 35 percent, to $14.5 trillion, or $137,000 for each taxpayer."
• "National unfunded liabilities increased 47 percent, to $114.9 trillion, or a cool $1 million for each taxpayer (and this does not yet include Obamacare)."
• "America is on the verge of losing its AAA credit rating."

[The credit has since been down graded.]

Dr. Wolf then noted a part of the dishonesty we have witnessed:

• "The stimulus would keep unemployment below 8 percent."
• "Stimulus funds would go to 'shovel-ready' jobs."
• "Obamacare would create 4 million new jobs - 400,000 almost immediately."
• "You could keep your own doctor."
• "The president’s mother was denied health insurance."
• "Obamanomics would mean a “net spending cut.”

The entire article is well worth reading and it can be found here.


Surly every one remembers the shovel ready jobs, which were going to cure the economic. Well after almost a Trillion dollars it did not do the trick Obama and his minions thought it was funny. You can see it here.


The Chinese have already downgraded the credit rating of the United States. Jennifer Epstein tells us in an article at Politico that: “China’s top credit rating agency downgraded U.S. debt on Wednesday, warning that it has growing doubts about whether the federal government will have the long-term ability to pay what it owes to lenders.”  You can see it here.  



The credit rating agencies of the United States are talking about a downgrade. However there is one thing about the United States credit rating agencies that some of the media has over looked. By the very nature of their work they have been involved in every financial scandal since they came into existence. They are riddled with conflict of interest and questionable conduct.


In their book “Reckless Endangerment” by Gretchen Morgenson and Joshua Rosner we told that:

“Moody’s took a special slam in WorldCom’s collapse because its chairman, Clifford Alexander, sat on the telecom’s board. Moody’s rated WorldCom debt as a good credit risk until the month before the company filed what was then the largest corporate bankruptcy in history.”

They triggered the collapse of the “housing market” which lead to a large part of the problems we are witnessing today.


In fact we are told in a Reuters article dated April 13, 2011 by Rachelle Younglai and Sarah N. Lynch that: “Moody's Corp and Standard and Poor's triggered the worst financial crisis in decades when they were forced to downgrade the inflated ratings they slapped on complex mortgage-backed securities, a U.S. congressional report concluded on Wednesday.”

“In one of the most stark condemnations of the credit rating agencies, a Senate investigations panel said the agencies continued to give top ratings to mortgage-backed securities months after the housing market started to collapse.”

“Perhaps more than any other single event, the sudden mass downgrades of (residential mortgage-backed securities) and (collateralized debt obligation) ratings were the immediate trigger for the financial crisis…''

Then there is the fact that the cure all, do all “Dodd-Frank [Bill] did little to change what some say is an inherent conflict of interest in credit raters' business model, in which the raters are paid by the companies whose products they rate.”

In an AP story by Stephen Braun on August 1st we are told that “Moody's, Fitch Ratings and Standard & Poor's, along with S & P's parent company, McGraw-Hill, have spent a combined $1.76 million since January to lobby Congress and federal agencies, much of it aimed at new regulations.” 

What we are seeing is more of the same old, same old. These people are lining the pockets of the politicians and the federal agencies and the taxpayers are taken for another a ride. See it here.


Folks do not look for any of this in The Telegraph because you will not find it there.


Have a nice day.