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Netherlands Loses Aaa Credit Rating

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Which wasn't unexpected. Also, Spain upgraded to stable outlook (expected), and Cyprus raised from CCC to B- (doing better than expected).

No, you don't understand. Only bad news from the Eurozone is to be reported on HPC, or anywhere else in the British media for that matter. If good news must be reported, it must be done so in such as way as to make it appear to be bad news.

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No, you don't understand. Only bad news from the Eurozone is to be reported on HPC, or anywhere else in the British media for that matter. If good news must be reported, it must be done so in such as way as to make it appear to be bad news.

Well, here is some bad news from outside the Euro-zone. Ukraine was downgraded in October to C because it was going ahead with a loan from the IMF. :lol:

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No, you don't understand. Only bad news from the Eurozone is to be reported on HPC, or anywhere else in the British media for that matter. If good news must be reported, it must be done so in such as way as to make it appear to be bad news.

Good news?! Where? :blink:

Employment growth in developed markets has been less than 1.0 % p.a. for the last five years. And now emerging markets are staggering too.

Right on for the darkness.

BaBoni4CMAAG_6w.png

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Good news?! Where? :blink:

Employment growth in developed markets has been less than 1.0 % p.a. for the last five years. And now emerging markets are staggering too.

Right on for the darkness.

BaBoni4CMAAG_6w.png

Im guessing population growth, especially in the working age cohort, in developing markets is above 1%, so presumably really employment has been actually worsening in the EM over the last 5 years. Still, so long as we can afford to keep sending them £50billion+ in aid and remittances, all is fine.

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More bad - really bad - news from the EZ.

For some time now, The Slog has been pointing out the inevitability of Greek default next Spring unless there is a change in the stony-faced attitude of Brussels-am-Berlin. A week ago, a Merrill Lynch note at last started debating the ‘inconvenient truth about Greece’. Now it transpires that secret negotiations between Athens and the Troika are under way about the promised then unpromised debt relief, and whether a further bailout of banks will be possible.

Nobody as yet wants to acknowledge the stream of urine bursting forth from the elephant to drown everyone in this room: that the ‘recovery’ hype is exactly that, and under the terms of Bailout2 the Greek debt just keeps getting bigger. But that consideration becomes irrelevant once the inevitable repayment failure occurs. And despite the pressing nature of inevitability, frankly the eurozone powers are all over the place about what to do: the divisions are deeper than ever.

New data from the ECB shows that the ezone money-supply and general liquidity dropped catastrophically during October. The overall figure for loans to non-financial companies shrank by 3.7% overall, but it is the country by country ClubMed figures that spell disaster: Societe Generale says the total lending fall was 5.7% in Italy, 6.6% in Portugal, and a horrific 19.3% in Spain. I told you a year ago that the Spanish banks were empty, and guess what – they are.

http://hat4uk.wordpress.com/2013/11/29/euroblown-breaking-writing-on-the-wall-as-troika-ecb-split-on-greece-and-spanish-bank-lending-collapses/

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