Saturday, January 9, 2010

Cold comfort

City confident UK will avoid ratings downgrade

LEADING City firms, including some of the biggest dealers in UK government bonds - gilts - say a downgrade of Britain’s AAA sovereign debt rating remains unlikely this year. “There is a 50% chance of a hung parliament, but even in this event the rating agencies would give the new coalition government at least a month to agree on sufficient fiscal measures to retain the country’s AAA rating,” said Stuart Thomson, chief economist at Ignis Asset Management.

Posted by devo @ 10:36 PM (5069 views)
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22 thoughts on “Cold comfort

  • devo, chief playmaker at HPC, said ” swivel on this”, whilst raising his middle finger.

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  • never underestimate the will of the British people

    financiers have ruled for as long as it suited us

    it no longer suits

    parting is such sweet sorrow

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  • I think all bank profits should go to paying off the country’s deficit plus confiscate all directors assets and force them to do this under penalty of death for what they have done, make them feel the pain! Most of this crap originated in the U.S. but that is no excuse.

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  • the ponzi scheme which we are a part of, was initiated by the banksters, who think they transcend national boundaries

    they may be right, they may be wrong

    we will soon find out

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  • The City is hardly going to say “WE’RE JUST ABOUT TO FACE HIGHER FINANCING COSTS!”

    Honestly. Asking them whether their costs are likely to go up is like asking turkeys if Christmas is a good idea.

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  • we are not irish

    we will not accept cuts in spending

    remember the poll tax?

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  • paul @5 The City is hardly going to say “WE’RE JUST ABOUT TO FACE HIGHER FINANCING COSTS!”

    But why exactly can they not be honest and straightforward, because they are a bunch of blood sucking parasites.

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  • they are a bunch of blood sucking parasites

    who have killed the host

    bad move

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  • check

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  • Remember the poll tax riots? Yup I was there, can’t remember seeing many middle class folks on that one though, they’ll take it until they get thrown onto the streets and even then the best they’ll do is write a letter to the local rag.

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  • markj69 str05 says:

    Killed the host! Not yet. They’ve only severed the direct link. But the gov’t host may still be alive and kicking! It’s still our money (Blood) they’re siphoning off – Just via different means.

    Robbed the people directly, (Incompetence, greed and negligence), now robbing the people indirectly (Necessity! Survival instinct).

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  • I thought devo was referring to me having killed off this thread, not sure, but as you say money they are siphoning off when it’s run out
    would a possible scenario be conscription in to the armed forces to fight some probably unwinnable war to get as many of us killed as possilble and brianwashing the rest into believing they fought for the good of mankind.

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  • markj69 str05 says:

    I think the gov’ts already started the ‘get as many of us killed as possilble’ phase.

    Don’t rock-salt the roads – that’ll lead to a few road accident deaths. Others not being able to get about and shop for food so starve to death.
    Country runs out of Gas – freeze a few of the older buggers to death. I just heard on BBC that GB says we will not run out – Well not sure I beleive someone whose supposed to be running the country, and had high level responsibility over the last decade, especially when you look at his track record. Sold our bullion at a snip – Excellent market judgement. Allowed financial organisations to run riot with the systems without regulation – Excellent governance, not. Conned into sinking £200B to support incompetence, negligence, and greed – And with what caviats? Banker bonuses, need I say any more.

    He’s about as welcome now as a ‘Fart in a space-suit’, I wonder when he’ll get the message?! Probably after he’s screwed us all for a little more! – I wonder how the pension pot’s looking!!!

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  • check out the Pastor about 4.24 mis in this is grandiloquent neo con right wing bull crap at it’s utmost. I understand the troops are going to risk their lives but still this is criminal brianwashing.
    http://www.youtube.com/watch?v=ebEUYGtENfw

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  • 11. novice pete said… I thought devo was referring to me having killed off this thread, not sure,

    certainly not

    the host that the parasitic financiers have killed is us – the cash cows, the pigs – call us what they will.

    for now they are now feeding off each other ie. living on borrowed time

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  • sorry devo, my misunderstanding.

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  • Don’t buy it. A hung Parliament will mean no-one wants to implement an austerity budget. In effect we’ll still be in election countdown, but stuck there indefinitely.

    OTOH if a hung parliament is looking imminently likely, the MSM will go to town on the libdems, making it less likely.

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  • no politician will implement an austerity budget, hung parliament or not

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  • no politician will implement an austerity budget, hung parliament or not

    It’s what is needed, but no-one can face it. Expect some kind of a currency crisis, with the savers footing the bill.

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  • A hung parliament sounds great, but with piano wire not votes.

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  • As Jasper said in the Times comments (couldn’t have put it better, myself):

    “To wonder why we are in this situation lets look at some facts:

    l. The U.K. is the only major economy still to emerge from recession.
    2. We have the largest budget deficit of any major industrialised country.
    3. We are experiencing the longest and deepest recession since world war ii.
    4. The BoE are still printing money whilst other industrialised countries are talking exit strategies.
    5. Major banks have been bailed out, but still require fresh cash injections.
    6. The pound has fallen steadily against all other major currencies, accelerating over the last six months.
    7. PIMCO has just announced it will be a net seller of U.K. government bonds this year.
    8. The cost of insuring government debt has almost doubled since October.
    9. The government has no coherent policy to reduce debt.
    10. Uncertainty exists about whether the next government will have a clear mandate to govern”.

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  • Aaah. It all makes sense now. This is David ‘No-one Saw It Coming’ Smith writing.

    He is a perma-bull and is permanently wrong.

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