To those who are entrenched operatives in American politics it matters less that they make use of fiscal and economic facts as the basis of their arguments. Since their goal is to manipulate the views of their loyal following - the only thing that matters is that they take the latest transaction that the world gives us in the form of 'current events' and successfully turn it into an indictment against their enemies.
The recent news that credit ratings agencies have placed the entire Eurozone at risk for a degraded credit rating provides us a transaction that will be taken in and analyzed by those who seek to advance their agenda here in America.
If we go back to the "Debt Ceiling Debate" from earlier this year as background there were several arguments cast as to who and what was the cause of the decrease in America's "AAA" rating down to "AA+". In the case of Black Progressive Journalist "Tired And Retired" Jack White - it was the Republicans that caused the downgrade. In his "Right Wing Watch" weekly deposit on "The Root.com", Mr White claimed that the combination of the right-wing's unwillingness to raise taxes and their contempt for the "Black man in the White House" lead to them taking the nation to the brink of economic collapse.
Everyone should occasionally check out "C-SPAN II" where they show the raucus debates in various European Parliaments. (The UK debate between Camron and the Labor Party is on right now. They are talking about the lack of competitiveness in some nations as the source of the imbalance in 'current accounts'. He argues that the indebted nations are not productive enough to sustain their spending levels). Watching these sessions allows me to see how much Americans are being lied to in reference to the "glories of Europe". Each time the American Progressives wish to "sell us" on something Europe is used as the perfect reference. I fear that their present "near death experience" is not going to dislodge this image in the mind of some.
When your main agenda is to "feed the domestic mushrooms" in order to keep them in line - the presence of an external reference of perfection to sell the people on is an important tool for usurpation. Like heaven to the Christian - Europe is a "social justice" utopia for the American progressive-fundamentalist.
With their goal of hammering the right-wing in America they perpetuate these fanciful notions of Europe, the place where socialistic though has more successfully penetrated. They point to health care, workers rights for unemployment compensation and the eradication of the "Death Penalty" as telltale signs of "social justice".
If you read the left-leaning news sources you are lead to believe that American banks caused the fiscal collapse in Europe. Their collateralized debt schemes from the US mortgage market spread an infection that continues to envelop Europe. I just listened to 25 minutes of the UK Parliament. Not once did they say anything about American banks. They blamed DEBT. Sovereign Debt. Spending more money on domestic "Social Justice" programs than you have. Few European nations have massive military industrial complexes or prison industrial complexes that the US has to be used as a target from the left as the cause of the present budget holes. As such they needed an enemy to blame it all on. The American banks were promoted into this role.
Ironically, former New Jersey Governor Jon Corzine is now caught up in a fiscal scandal with "European Debt Bonds" at its core. Corzine lead MF Global on a scheme to purchase up the rock solid debt in Europe. They figured that the Eurozone would back the debts from individual countries and thus there was little risk, regardless of what was obvious. Up to $1.2 billion in investor funds are now missing. Mr Corzine has no worries IF he reads Jack White's columns. Since Corzine is not "right-wing" he is not being WATCHED.
I am on the lookout for how this new continental crisis in Europe will impact their viewpoint.