Bill’s commentary:
“So much for ‘low inflation’?”
The United Auto Workers is seeking a 46% wage increase over four years as a part of its negotiations with the Detroit Three automakers, according to a page of the union’s written demands.
The proposal would be the largest pay increase in recent memory. The proposal from the Detroit-based union that represents approximately 150,000 workers making Chevrolets, Fords, Jeeps and more calls for a 20% general wage increase upon ratification of a new contract “to offset severe impact of inflation” over the past few years, according to the write-up obtained by The Detroit News.
Bill’s commentary:
“All ponzi scams go bust it is just a matter of when, Dave.
You are correct Dave, math doesn’t lie but it seems it is no longer taught in schools anymore?”
At 5:13 p.m. ET on Tuesday, after the stock market closed, Fitch downgraded the U.S. credit rating from AAA to AA+. Fitch is now the second of the three major credit rating agencies to have taken the historic step of removing the triple-A rating from the U.S. S&P made its first-ever downgrade to the U.S. credit rating on August 5, 2011, also from AAA to AA+, and has kept it there ever since. Moody’s is now the only member of the Big Three credit rating agencies that has maintained a triple-A rating on the U.S.
BillHolter.com 
So far, everybody pays for US bad actions, except the US. Now we get to see if Fitch pays for their audacity.
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