Every seasoned CPA has experienced this before. The outrage. The denial. The clucking. Dealing with an irresponsible big shot client, it happens to us all the time.
And they actually cluck. They truly do. Cluck, cluck, cluck, cluck, cluck.
He isn’t to blame. You are. And the search for discrepancies begins. If Mr. Big Shot spots anything, he’s absolved. Anything. Absolutely any tiny little thing in your numbers. That makes everything all your fault.
It’s Big Shot magic at work.
These issues almost always swirl around taxes. The taxes this middle-aged child doesn’t want to pay.
Standard & Poor’s cut the credit rating of the United States of America because Government here no longer has the power to increase taxes, and our Mr. Big Shot had his whole staff throwing a hissy fit with him.
Somebody pulled a math error out of his due process, claimed it was the sole cause of the country’s fiscal tailspin, and Mr. Big Shot walked away from all responsibility for the mess that’s swirling smack dab around him.
Walked, nothing. They made a dang parade out of it, complete with toots and huzzahs.
Readers, without proper revenue-raising authority behind government securities, they will get a junk rating every time. Nobody charged with fiduciary responsibility can hold that kind of garbage. In the case of a sovereign nation piling up debt, investors will see inflation chop the purchasing value of long-term principal into tiny little fractions way before this toxic paper matures.
Look for further cuts in our credit rating based solely on Mr. Big Shot’s inattention to that specific issue. It’s a smoldering bomb, and he‘s pretending he can‘t see the smoke. And don’t ever expect to find the real reason in print. When the problem is some kind of character flaw in management, that gets called something else.
Face it, Republicans will not let this specific individual, Mr. Blatant Umama, perform the duties of his office. If Mr. Big Shot gets reelected next year and the GOP holds the House, The MacDougal Post projects the USA credit rating, at least at Dagong, quite possibly the only relevant rating agency in today's world, to drop below investment grade status at that time.
Even if you're into financial roller coasters, that sounds like one ride you really don't want to take.
