Bernanke goes with an open ended QE-3 and BECAUSE of that decision, our credit was downgraded the same day.

<<<<<  We should all be pissed to know that we,  the American taxpayer,  has no opinion in all this that counts,  and is at the bottom of the bottom of the cesspool as far as the politicians are concerned.  

Understand that Bernanke has taken interest rates to near zero and has printed 2 trillion in dollar bills over the course of the past five years.  Understand that if Bernanke printed this money and handed to each American,  a family of four just received $25,800!!   More than all this funny money,  unemployment remains “in the tank” and trending up  (which is a bad thing for those teachers in Chicago)  and the housing market remains a huge economic mess.  It appears that only Wall Street is benefited by these printings. Understand that Ben Bernanke is going to buy $40 billion in mortgage backed securities every stinking month  --  with no limits or deadlines set on this activity.  He is dragging the taxpayer into deeper debt and could care less that he is doing so.  

And what is Ben going to do with all this money?  Well,  for one thing,  he is going to buy up some of these bad mortgage deals.  That will increase the need to raise taxes because,  in the end,  Ben doesn't buy one freaking thing  -- the American tax pay does.  

Egan-Jones downgraded  the US (in July) two weeks before the much reported S&P did the same and has done so,  again,  today,  Friday the 14^th of September.  Listening to discussions on FoxBusiness and CNBC,  we learn that this move will further inflate the dollar.  This will increase the cost of goods (because each dollar bill is worth less than before printing) which,  in turn,  reduces the purchasing power of us all.  As a result,  Egan-Jones decided for the downgrade.  Job growth and consumer spending are at the heart of any recover. 

What is good news for the GOP is the fact that the Egan-Jones expressed reasoning faults spending (which indicts both parties) and QE-3.  Many believe that Bernanke is simply trying to save his job by propping up the Obama economy.  From what I have observed,  this may not be the case.  While many disagree with the strategy,  the effort on the part of Bernanke seems to be sincere.  What that has to do with anything,  goes beyond me.   If his actions are wrong-headed,  of course,  it makes no difference whether they are sincere.  

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For more information from folks who are experts in this field:  

Read  The Financial Times, here,  Market Watch,  or (my favorite),  ZeroHedge.  

I lost the reference,  but in doing my research,  I read that - because of this decision - gold could rise to $3300 an ounce. You can check out that story on your own.