I don't believe the estimates of the partial shutdown tab

Standard  & Poor's is putting out a garbage estimate that the shutdown cost $6 billion.  I believe that is 3/100 of 1% of our $20-trillion economy.  Does anyone really think he can figure out the number accurately?  As with most things, these supposed "experts" just throw out a number, and the rest of the media repeat the numbers as if they were true with no questions asked. 

S&P, Fitch, and Moody's couldn't even figure out that junk mortgages were going to go bad, or didn't care because they were making so much money from selling their souls.

S&P reaches $1.5 billion deal with U.S., states over crisis-era ratings

The settlement comes after more than two years of litigation as S&P tried to beat back allegations that it issued overly rosy ratings in order to win more business.

S&P parent McGraw Hill Financial Inc MHFI.N said it will pay $687.5 million to the U.S. Department of Justice, and $687.5 million to 19 states and the District of Columbia, which had filed similar lawsuits over the ratings.

But we are supposed to believe they are able to figure out the cost of this temporary shutdown?

Think how many trillions the economy lost over years through a recession, slower growth, lost real estate value, almost zero interest rates, massive government deficits, and other multiplier effects because S&P and other ratings agencies inflated the ratings of junk mortgages to goose their earnings.  Then compare that to the minuscule effect of the shutdown even if the made up number of $6 billion is correct.

In summary: Don't trust people who pretend to be experts.  We, especially journalists, should question everything we are told.  Sadly, supposed journalists won't question anything if it involves Democrat talking points pushing the big government agenda.

Image credit: Pixabay.

Standard  & Poor's is putting out a garbage estimate that the shutdown cost $6 billion.  I believe that is 3/100 of 1% of our $20-trillion economy.  Does anyone really think he can figure out the number accurately?  As with most things, these supposed "experts" just throw out a number, and the rest of the media repeat the numbers as if they were true with no questions asked. 

S&P, Fitch, and Moody's couldn't even figure out that junk mortgages were going to go bad, or didn't care because they were making so much money from selling their souls.

S&P reaches $1.5 billion deal with U.S., states over crisis-era ratings

The settlement comes after more than two years of litigation as S&P tried to beat back allegations that it issued overly rosy ratings in order to win more business.

S&P parent McGraw Hill Financial Inc MHFI.N said it will pay $687.5 million to the U.S. Department of Justice, and $687.5 million to 19 states and the District of Columbia, which had filed similar lawsuits over the ratings.

But we are supposed to believe they are able to figure out the cost of this temporary shutdown?

Think how many trillions the economy lost over years through a recession, slower growth, lost real estate value, almost zero interest rates, massive government deficits, and other multiplier effects because S&P and other ratings agencies inflated the ratings of junk mortgages to goose their earnings.  Then compare that to the minuscule effect of the shutdown even if the made up number of $6 billion is correct.

In summary: Don't trust people who pretend to be experts.  We, especially journalists, should question everything we are told.  Sadly, supposed journalists won't question anything if it involves Democrat talking points pushing the big government agenda.

Image credit: Pixabay.