Wednesday, February 18, 2009

Time to spend more time in the garden?

Britain's AAA credit rating threatened by scale of bank bail-out

"Britain could be stripped of its prized AAA credit rating as a result of the Government's latest bank bail-out" Oh those ever-reliable ratings agencies.

Posted by letthemfall @ 06:21 PM (814 views)
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7 thoughts on “Time to spend more time in the garden?

  • It is UNBELIEVABLE that the public put up with rating agencies at all. Like a broke watch, they are right twice a business cycle. Another example of the failures of centralized economic planning. They are only required because manipulation of interest rates and money growth that distort the free market and create bloated corporate investment houses. The rating agencies are there to let big investors and government know how badly they are manipulating the market, so that they don’t screw up their own investments, which is inevitable, given that they dominate the markets. Who voted for rating agencies? Who voted for this financial system? Its all decided upon behind closed doors.

    I wouldn’t doubt that corporations get one rating, the general public get another.

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  • And what is about to tip Britain’s credit rating over the edge?

    QE.

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  • Smithofborneo says:

    Not the Telegraph’s article, surely!

    Why is the Telegraph the quickest to say that we are up sh!t creek without a paddle? Is it because the Telegraph is the most honest of all our newspapers? Or is it because it is the most patriotic? Beats me.

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  • Smithofborneo says:

    Not the Telegraph’s article, surely!

    Why is the Telegraph the quickest to say that we are up sh!t creek without a paddle? Is it because the Telegraph is the most honest of all our newspapers? Or is it because it is the most patriotic? Beats me.

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  • This is exactly why we should have let bad banks FAIL! Not surprised the ratings agencies think we can’t carry the debt, because we can’t! You can’t pay tax credits/benefits and employee a huge number of the population and pay those kind of debts.

    It really looks like we might go all 70’s again.

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  • This is exactly why we should have let bad banks FAIL! Not surprised the ratings agencies think we can’t carry the debt, because we can’t! You can’t pay tax credits/benefits and employee a huge number of the population and pay those kind of debts.

    It really looks like we might go all 70’s again.

    The govt will collapse, BOE will collapse…………….

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  • I be a bit hesitant to trust any ratings… these are the same folks that said subprime debt packaged up where triple A as well… right now Britain buggered and will become the new eastern europe…

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