Before his inauguration the idea that America’s triple AAA rating could be put at risk in a very short time was considered by the punditry as ludicrous. Yet Obama has manage to do just that. Thanks to his ideologically driven economic lunacy it now seems that treasuries have already lost their glitter as the world’s safest investment haven. An accomplishment that no other president in American history came close to achieving.
We now find that Berkshire Hathaway was selling two-year bonds that had a lower interest rate than two-year treasuries while Johnson & Johnson and Lowe have been borrowing at lower rates than the Obama administration. The same goes for Procter & Gamble Co. Moreover, about ten days ago Moody’s publicly warned that treasuries are close to losing their triple AAA rating.
Let us try to put this in perspective. Under the brilliant financial leadership of one Barack Hussein Obama USA Incorporated – the world’s largest company with 300 million captive shareholders and astronomical resources at its disposal – can no longer borrow at a lower rate than a certain octogenarian and a company that manufactures pharmaceuticals and medical devices. I guess this is one of the reasons Obama told those Hollywood airheads that “You ain’t seen nothing’ yet!”