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Yoss

Moody's Get Straight

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Ah it must be true. Some clever dick at Moody's said it.

Read between the lines and try figure which non-US country is going to be the centre of the next invented financial crisis that makes people rush to the dollar.

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The US, UK, Germany, France, and Spain
are all at risk
of an "interest rate shock", either because they must roll over a cluster of short-term debt (US, France, Spain) or because deficits are so large..../
Britain has the safety cushion of long debt maturities, but the structural deficit is causing debt "to grow an unsustainable rate": the UK is clearly one of the weaker countries in the AAA peer group.
Moody's expects
Britain's public debt to reach 90pc of GDP
*within three years. It warned that any slackening in fiscal tightening by the Government squeeze would lead to a "sharp rise" in funding costs if growth also slowed, with a nasty effect on debt dynamics
.

So much for the end of the US $--more like the end of the West. And the Chinese see safety in the Euro? They would be better of in their own currency.

We either come under the Chinese jackboot or the Sword of Islam next. :ph34r:

*US is running at 83% of GDP with Japan way out "ahead" at c. 200%.

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We either come under the Chinese jackboot or the Sword of Islam next.

...it was Nuliebour who surrendered our freedom through economic negligence...Gordo the pudding .. :rolleyes:

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The West has painted itself into a corner with debts.

But even if there were no debts, there is still only 1 Earth between 6 Billion people. We can't go on forever with 2 billion Westerners taking almost all of the resources.

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Moody's expects Britain's public debt to reach 90pc of GDP within three years. It warned that any slackening in fiscal tightening by the Government squeeze would lead to a "sharp rise" in funding costs if growth also slowed, with a nasty effect on debt dynamics.

90% of GDP - better hope growth remains positive otherwise we'll be fooked...

Edited by MrFlibble

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...it was Nuliebour who surrendered our freedom through economic negligence...Gordo the pudding .. :rolleyes:

No, all the financial mechanisms and instruments (you know the leveraged securitised pyramid ponzi stuff) to create a sustained period of low inflation, crazy asset inflation and unfeasibly high and sustained economic growth were already in place before 1997. Labour's only crimes were being the government of a country with a massive globally-focused financial sector and not having the guts to take that sector on.

No government was going to do anything different because that financial sector quite simply has the power to destroy a government, almost on a whim. The Conservatives will not do any better even with the previously tough talking Vince Cable (now a neutered little bunny rabbit) now on board. And it seems that a bit of tough talking from a government about taking on the financial sector will always result in a shot across the bows from the credit rating agencies anyway.

Edited by needsleep

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  • 144 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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