
“So you think that money is the root of all evil?” said Francisco d’Anconia. “Have you ever asked what is the root of money? Money is a tool of exchange, which can’t exist unless there are goods produced and men able to produce them.” … “Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil?” - Atlas Shrugged
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Wednesday, August 10, 2011
Downgrade....watch for rising debt!
Whatever one thinks of the credit-rating agencies -- and we aren't admirers -- it serves no good purpose to shoot the fiscal messengers. Friday's downgrade by Standard & Poor's of U.S. long-term debt to AA from AAA will be the first of many such humiliations if Washington doesn't change its economic and fiscal policies."
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