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Fitch Revises Belgium Rating Outlook To Negative

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http://www.zerohedge.com/article/fitch-revises-belgium-outlook-negative

Fitch Ratings warned on Monday it may downgrade Belgium's credit ratings if the government misses its deficit targets due to lack of political consensus.

The agency, which rates Belgium at AA-plus, said it will be difficult for the government to achieve a balanced budget without political agreement over constitutional reform.

Fitch revised Belgium's rating outlook to negative from stable, which means a downgrade is likely in the next 12 to 18 months.

One by one the dominoes start to fall.

Next someone is going to suggest the money will never ever get paid back.

Still as long as the central banks keep printing we can all deny anything will happen.

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http://www.zerohedge.com/article/fitch-revises-belgium-outlook-negative

One by one the dominoes start to fall.

Next someone is going to suggest the money will never ever get paid back.

Still as long as the central banks keep printing we can all deny anything will happen.

Only 141 to go.

Are you putting on a party when you get to 25,000?

Free buffet and booze?

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In the meantime, things in Italy (whose credit outlook was recently revised to negative by S&P) are very bad indeed.

One in four Italians 'facing poverty' as result of recession

Rome, 23 May (AKI) - One Italian in four currently faces poverty as a result of the global financial crisis and their country's chronically low growth, the national statistics institute Isat said on Monday in a report.

"In Italy, almost a quarter of the population - 24.7 percent - is facing the threat of poverty and marginalisation, compared with a European Union average of 23.1 percent," the report said.

Istat described the past decade as "a lost one" in which the Italian economy showed "overall weakness".

"The Italian economy's growth rate is wholly unsatisfactory and the current signs of recovery and a pickup in demand for workers do not seem sufficiently strong and widespread to reabsorb unemployment and inactivity and boost incomes and consumption," said Istat president Enrico Giovannini, presenting the report in Rome.

Italian households had been hard hit by Italy's average GDP growth of just 0.2 percent between 2001 and 2010, compared to 1.3 percent for the EU as whole, according to Istat.

Italy has been the only advanced economy to see a contraction of per-capita GDP, and Italians' real purchasing power has fallen by 4 percent, impacting households' ability to save.

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If Greece goes, then Eire will go - the dominoes will topple quickly and faster than we know it the UK will be in trouble.

I personally think the Queen's visit and Obama's visit to Eire has a lot to do with shoring up Eire financially behind the scenes.

I suspect that the UK and the US are positioning Eire to leave the Euro in any future crisis in return to be bailed out by the US and the UK. Perhaps some kind of North Atlantic Anglo-Saxon/Celtic/US and Cananda pact?

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If Greece goes, then Eire will go - the dominoes will topple quickly and faster than we know it the UK will be in trouble.

I personally think the Queen's visit and Obama's visit to Eire has a lot to do with shoring up Eire financially behind the scenes.

I suspect that the UK and the US are positioning Eire to leave the Euro in any future crisis in return to be bailed out by the US and the UK. Perhaps some kind of North Atlantic Anglo-Saxon/Celtic/US and Cananda pact?

Long live the 53 states of America!

A fitting conclusion (or rather, continuation of) to the British Empire.

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Long live the 53 states of America!

A fitting conclusion (or rather, continuation of) to the British Empire.

The UK may yet do better than the US. Is it 1.5 trillion of us debt owned by the fed, which appears to be the only buyer in town. That isn't going to end well.

A state needs two things to function, the ability to defend itself, and the ability to finance itself. The US is rapidly losing the latter, which will cause it to relinquish the former. Perhaps Pakistan might have to raid the place to stop nuclear weapons falling into the hands of crazed Religious groups there.

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The UK may yet do better than the US. Is it 1.5 trillion of us debt owned by the fed, which appears to be the only buyer in town. That isn't going to end well.

A state needs two things to function, the ability to defend itself, and the ability to finance itself. The US is rapidly losing the latter, which will cause it to relinquish the former. Perhaps Pakistan might have to raid the place to stop nuclear weapons falling into the hands of crazed Religious groups there.

tongue.gif

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  • 312 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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