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The Daily Dose/June 16, 2011
By Gaylon Kent
The Writer's Shack
Notes From Around The Human Experience...
MY BIG FAT GREEK RIOT: The riots in Greece are interesting. Well, they're probably not too interesting if you're Greek getting the snot beaten out of you, they're probably painful.
And not so much because of the nuts and bolts of why Greeks are rioting against their government, but because we found ourselves wondering if similar rioting could happen here.
Big Picture Me Here…Thank You In Advance: While detailed analysis of the Greek financial imbroglio is - surprise! - beyond the scope of this column, we can note without boring you too much that Greece is having problems paying its bills and is obliged to pass an austerity program of over $45 billion (B) by the end of this month or funding provided by the rest of Europe and the International Monetary Fund, which has been keeping Greece afloat, will end. This will cause Greece to default on their obligations.
Uh-Oh: This perked our ears up a bit because 'default' is the word US Treasury Secretary Timothy Geithner has been throwing around to describe what will happen if the US doesn't raise its debt ceiling by early August.
Get Your Official Writer's Shack Policy Right Here: Now, we're not too worried about the US defaulting. We don't favor it, but we rather doubt it will get to that point. Eventually things will get so bad that Congress will put their special and partisan interests aside and get something done because even Congress recognizes that the special interest gravy train will end if the entire goddamned country collapses and the citizenry is looting the capital and looking to hang them from the street lamps.
FunFact: The Greeks are protesting lower public-sector wages and other take-your-medicine budget cuts, and this is what got us thinking about rioting here because anyone who thinks are national debt/deficit problems are going to be fixed by sprinkling fairy dust and waving a magic wand is high. There will be pain, and since over half the money this country spends is on entitlement programs, it is entirely possible the citizenry - long accustomed to master's handouts - may well not like having their entitlement programs cut.
Dry, Technical Matter: Greece currently has the lowest credit rating of any nation on the Standard and Poor's Sovereign Rating List, CCC.
Really Dry, Technical Matter: Standard and Poor's rates nations on an A through C scale, with AAA being best, and CCC being the worst and it is good to note there are some + and - signs thrown in there, too, just like on your report card at school growing up, This is accompanied by an outlook, which can range from Stable to Positive to Negative.
USA! USA!/Uh-Oh II: The United States currently enjoys a top AAA rating, however we are the only nation of the 19 AAA nations with a Negative outlook.
GREAT MOMENTS IN MR. LINCOLN: Abraham Lincoln delivers one of his most memorable speeches, in a life dotted with them, on this date in 1858. Speaking at the close of the Republican state convention in Springfield, Illinois following his nomination as the Republican candidate for US Senate, Lincoln delivered what History now refers to as The House Divided speech.
A house divided against itself cannot stand. I believe this government cannot endure, permanently, half slave and half free. I do not expect the Union to be dissolved - I do not expect the house to fall - but I do expect it will cease to be divided.
But His Time Is Not Now: Lincoln would eventually lose the Senate race to Democrat Stephan A. Douglas.
Peace, Love And Flowers: The Monterrey Pop Festival begins in Monterrey, California on this date in 1967. Featured artist for the three-day event include Jefferson Airplane, The Who, Janis Joplin, the Mamas and the Papas and Otis Redding, playing before mainly white folk for the first time. Jimi Hendrix closed out his set by setting his guitar on fire.
Conspicuous By Their Absence: A list of notable acts of the era that weren't there would have made a pretty good show. The Beach Boys sent regrets. Barry Gordy wouldn't let any of his Motown acts appear. The Kinks couldn't get a work visa while Donovan couldn't get any kind of visa due to a prior drug bust which is funny because festival organizers set up medical tents specifically to handlel drug-related ailments. The Doors weren't invited.
Stop Or I'll Shoot...And Shoot...And Shoot: Bernhard Goetz is acquitted of attempted murder charges on this date in 1987 in connection with his shooting of four alleged muggers in a New York City subway. Goetz was convicted of illegally possessing a firearm an served eight months of a one year sentence.
Thought For The Day: Did we brave all then to falter now?-now, when that same enemy is wavering, dissevered, and belligerent? The result is not doubtful. We shall not fail-if we stand firm, we shall not fail. Wise counsels may accelerate or mistakes delay it, but sooner or later, the victory is sure to come. - Abraham Lincoln, end of The House Divided speech.
Answer To The Last Trivia Question: Australia and South Africa are the only nations which have multiple Rugby World Cup titles. Each have won the title twice.
Today's Stumper:Of the 19 nations on the Standard and Poor's Sovereign Rating List that have AAA ratings, how many have populations under 100,000? - Answer next time!
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