Moodys : Britain “Substantially Closer” to Losing ‘AAA’ Rating
Update :
March 15 (Bloomberg) — The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, according to Moody’s Investors Service.
Update : II : 
Pierre Cailleteau, managing director of sovereign risk at Moody’s in London, said under the ratings company’s so-called baseline scenario the UK will spend more on debt service as a percentage of revenue this year than any other AAA rated country: “We expect the situation to further deteriorate in terms of the key ratings metrics before they start stabilizing … This story is not going to stop at the end of the year. There is inertia in the deterioration of credit metrics.” Moodys predicts the UK will spend 7% of tax revenue servicing debt this year and between 9% and 12% in 2013. Financing costs above 10% automatically put countries outside of the AAA ratings category.
Update : III : For a completely different take, see the BBC - UK Credit Rating Viewed As Safe
Moody bastards
Have I hit it?
Probably not.
All it will take is for Brown to have any input whatsoever to whatever form of Government is created by the next General Election and we will be downgraded faster than a Muslim, carrying a will and a set of box-cutters on an American Airlines flight to New York.
Mr Ned, fret not.
Clegg has already said he will not work with Brown therefore Brown is finished.
Brown has painted himself into a corner, his raison d’etre is to keep the Tory party out of power and the only way he will be able to do that is by falling own his own sword. He has been hoist by his own petard.
And I think that there is less chance of us losing our AAA rating if we have a hung parliament because instead of all the tribal bickering we will have to all pull together and work as a team for a change.
If the markets do not like that prospect then there is something wrong with them.
“We are all in it together” as George Osborne would say!
Clegg said he would hold a referendum on Europe and then voted against one.
Clegg is a bare-faced liar and most emphatically would work with Brown if he was bought of with a cabinet post for some made-up ministry. The environment or some shit like that which would appeal to his bed-wetting voters while the Maximum Imbecile continued his reign of economic idiocy.
And wasn’t Clegg talking of ‘savage cuts’ a few weeks ago?
Clegg is merely an opportunistic Europhile shyster in a smart suit completely without principle. The only thing he believes in is finally getting his sweaty little mitts on one of the levers of power. He would make a pack with anybody in order for this to be achieved. Liberal Democrats all things to all people just too finally get a sniff of power and what a bunch of sanctimonious arseholes they are.
Cleggover and the Lib Dim`s are a band of outright opportunist`s, they would whore themselves to anyone who would give them a sniff of office again.
I’m very surprised anyone takes my thoughts on government debt that seriously.
You’ve got to pick a pocket or two, boys!
So are we, especially as we can’t hide the parlous state of the UK debt the way we managed to hide Lehman’s debts!!!
Purcell Quango to be investigated
http://is.gd/aI5PD
http://linlithgow-libdems.blogspot.com/2010/03/breaking-ashok-kumar-mp-found-dead.html
Labour MP found dead??? The Labour Party found wanting, Gordon Brown found-out? The Unite union buys Labour party for 11 million
11 million what? Votes, carrotts, tractors, ellycopters, buckets of s*it? You could’nt make this up.
We’re Top!
So what?
shoot the messenger
so let me get this right
Charlie “the thug” Whelan gives Brown £11M quid on the condition that 67 Unite hairy arsed heavies can have safe seats in Parliament.
Charlie “the thug” Whelan then fucks up the election campaign by grounding the national airline.
Brown calls Charlie “the thug” Whelan a Hunt
Will Brown tell Charlie “the thug” Whelan to stick his £11M where the sun don’t shine and he can fuck right off with the 67 safe seats where a shaved baboon can and will be elected for Labour?
Answers on a postcard to the:
Andrew Marr Show
Labour HQ
Bernie Grant House
Steve Biko St
the Peoples Republic of Islington (no oiks)
Eric Morecambe unveiled as Labour’s secret weapon http://twitpic.com/18r57f
them fooks ant and dec are starting to look like em.
Alternatively you can send your entries to:
Mr C Whelan c/o
The BBC,
Mandelson House
No.10 Downing Street,
Londonistan.
Please mark your envelope ZaNUnite-Labour – ‘No future we’re all fucked’
Are there still labour safe seats around?
I predict a bad moody in Downing Street this evening.
Wonder of Sarah will tweet this piece of news?
Why have political perverts invaded the internet porn scene?
Type ‘SamsClam’ or ‘Sarah’s Twat’ into the ‘Bored housewife’ search engine and you get two old bags moaning about their messy husbands.
I know porn is about illusion but at least I get me rocks off.
What result will I get from buying into Sam and Sarah’s illusion?
A newspaper clipping read out on The News Quiz some years ago concerned a Court report from a town on the south coast. Apparently, one of it’s citizens rang an 0800 premium rate ‘phone number entitled “Hear me Moan”. All he got (at £1 a minute or whatever) was a middle-aged woman complaining that he hadn’t mowed the lawn, done the shopping…
He took the service provider to Court on the grounds of misrepresentation. The judge threw the case out on the grounds that if he was sad enough to ring one of these premium rate lines, he deserved everything he got.
The British system of Justice has not lost all it’s wisdom.
True enough Engineer, but still, ’tis pretty bad news for a porn addict like you though, innit?
Afternoon, TaT. How’s the blog?
I have no idea what you are talking about.
This is the first time I have ever visited this site, I merely stumbled upon a link for it when I was visiting Auntie Dale’s.
Q. E. D.
But to come to that sweeping conclusion you must also come to the conclusion that another organisation that operates a policy of ambiguity, Israel, was responsible for the illegal assassination of the member of Hamas in Dubai, and also your proposition would also suggest that Israel, a country has over 200 hundred weapons of mass destruction that is fails to acknowledge to the relevant authorities yet at the same time says we should attack Iran, a country that possesses no nuclear weapons.
That is a very big QED you are proposing, Engineer.
Are you prepared to stand by such a vast propostion as the one you have just made?
Sod off TaT. If you want to make comment on the Middle East and it’s problems, fine; but don’t drag me into it.
You see that’s your problem Engineer, you are just another stooge who is not willing to take a stand on anything lest it lose you the election.
I will let you into a secret, old man, the Tories have already lost and so your spinelessness is all for nought.
Grow a spine and stand up for some principles Engineer.
War, occupation, torture and internment: America, Britain and Israel form the axis of arseholes and you don’t want to get dragged into it? You are bang in the middle of it you silly cretin.
How do you feel about the Israeli Defence force interning Palestinian boys for throwing stones at soldiers, forcing confessions out of them when they have not and getting them to sign documents written in Hebrew, a language they do not understand.
Those big brave Israeli soldiers, eh?
Just like Northern Ireland, innit?
The Israelis treatment of Palestinians is exactly the same as our troops treatment of Irish Catholics where before internment the IRA counted in the hundreds and after internment it was in the thousands.
But ofcourse you don’t want to get dragged into all that middle eastern stuff, do you, you cretin.
You’ve forgotten to take your medication again, TaT.
I know the guy in question,he was chairman of the lobby group,Campaign for real Ale and porn. C.R.A.P or as we like to be known ‘The old strokers’.
I’m a life member!
That’s the bloke OH,I would recognise his ginger haired palms anywhere.
Credit
Rratings
Analysis
Professional
as Enron, MicroStrategy, Iceland, Lehmans,ImClone Systems, El Paso Corporation
proved
there is a poll on Punternet message board over which of the 3 is most sh@ggable!
yes shes just tweeted, ‘My Gordon has just given Mrs Timms the lady who makes the tea a full right hook, he’s so manly when he starts bullying’
No worries you bullying bastard, I get Tony to come in your Cocoa every night ‘chortle’
“especially when he wears the arab strap”
Is this something to do with economics, and our standing in the world.
Could someone advise, only i’m a bit thick.
Well, you did get the word economics and the phrase “standing in the world” so you are doing better than Gordon Brown already.
We know.
Basically it means that you are fucked! Does that explain it with clarity!
With clarity, yes.
Labour have no problem getting hold of cheap finance, The good Lord (Mandelson) knows who to tap-up.
I’d find 1.4 trillion a bit of a bastard to conjur up, even for you Lord Bottom of Arse.
Any chance of borrowing 500 quid for my deposit in Middles… berger something, apparently one of the Kumar’s at number 10 has croaked leaving me a nice seat to get my teeth into, yummy girls.
MP Ashok Kumar has passed on at 53.
Every where BBC sky
and yahoo news.
Sad news. From what I read he was a very dedicated MP and a great friend to many. He will be missed by the many whose lives he helped. RIP.
__________________
Found that on another site. The internet never refused content.
BBC reports ??? what gives
“The credit ratings of major AAA governments, including the US and the UK, are well positioned, says Moody’s Investors Services.”
Guido just made it up, Kelvin style.
The U.K. economy, which emerged from its longest-ever recession last quarter, is forecast to expand by 1.2 percent this year after a 5 percent contraction in 2009, according to median economist estimates compiled by Bloomberg. Unemployment will average 8 percent this year and 7.9 percent next year, the estimates show.
“The question here is less when fiscal retrenchment ought to start, but rather how credible it is that sufficient retrenchment will take place,” Moody’s said.
Sir E predicts Darling will put forward a smoke and mirrors giveaway (but take back in the small print) budget based on fantasy 3.5% growth in 2010.
Meanwhile McDoom spins about reducing the deficit (i.e increasing the debt but at a slower rate) His next trick will be the ‘my cheque’s in the post’ line.
Sir E says send in the tanks and use the socialist heat seeking missiles.
No wonder, no surprise: the banksters go on as before, so do the politicians.
The culprit is the wording in Moody’s report, which states:
“On balance, we believe that the ratings of all large AAA governments remain well positioned, although their ‘distance-to- downgrade’ has in all cases substantially diminished”
Take from that whatever suits your political bias.
Reading between the lines: “They’re not /really/ triple AAA any more, but we don’t want to be the ones to break the bad news and get sucked into a media-political sh*tstorm.”
Are you sure? Only I have just bought a load of rechargeable AAAs, and it would be a bit of a bastard if I can’t use them. Environment and all that…
You have plenty of toilet tissue then for when the shit really hits the fan! Which it will after Broonie and labour rig the election!
But he has thought of that. 13 years on inaction on any credible energy policy means that soon there will be nothing to power the fan.
So even the toilet tissue is useless! Oh Jesus!
SFS – this is, in fact, great news for you. When your AAAs are downgrade to AAs you will find they have grown and will fit in many more appliances.
Another fine reason to vote for Gordon…
AAs are ok for the bigger devices!
Britain lead the world out of recession!
And you fuckin lead it into it
and he eradicated boom and bust so how did this happen?
It started in America – just listen to what I say, haven’t I told you that already.
Ask Lehman Bros shareholders and bondholders what they think of that lie.
My love of a young rent boy’s arse started in America.
This is altogether different. The technical term for this is boom and buggered
Gordon Lead the world out of recession….
…..from the back, where he is most comfortable.
The UK economy is more fucked up with debt and unsustainable deficits than Greece, Spain, Italy, Portugal and Ireland combined.
Get out of sterling if you can. It is heading for parity with the dollar, and around 1.40pence to the euro.
Already did so! Just making sure that the passport is up to date now!
And unlike the temperate Med countries, we NEED warmth and shelter as well.
Double Boned.
that would suit me nicely thank you.
i thought we were good at the 3 A’s
Alcoholism
abortion
absenteeism
http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=3337346
So, Mr. Dispute, what did it feel like?
Gordon, oh Gordon you’ve taken us for fools.
You lied about Prudence and your ‘Golden Rules’.
You plundered our pensions and decimated our savings,
We’re fed up of listening to your ‘global’ ravings.
Blair claimed you’re a genius; he lied to us too.
The ‘British’ economy is in deep doggy-doo.
‘No BOOMS, NO BUSTS !’ you used to shout out.
That was all hubris, of that there’s no doubt.
You bang on and on about your Presbyterian daddy,
Born a son of the manse and raised in Kircaldy.
Now how would he regard you, with disgust or with pride ?
Having watched you for years as you stood there and lied ?
You’ve ruined this country, we’ve become a basket case.
Moody’s and the others plan to remove our triple A’s
Yet you’re still in denial, saying we’re ‘uniquely placed’
Have a long look in the mirror, your reflection is two-faced !
I saw you just recently on the Andrew Marr prog,
The look on your face was unusually hang-dog
You said you’d prepared a ‘Decade of Shared Prosperity’.
I think you’re deluded-it would be more Marxist Austerity !
You bored me to tears with your grandiloquent prolixity,
A dull raft of statistics in a broadcast of mendacity.
Then you told us that yours is the Party of aspiration!
You’re clutching at straws, man; that’s total desperation !
In the early days of 2010 a few chumps tried to shaft you
I’ve got the strangest feeling that this wont be the last coup.
Yet once again the Dark Lord came riding to your rescue.
The public all think you should be end up like Ceacescu.
You’re ‘getting on with the job’ of rebuilding the economy,
Stop trotting out these phrases with predictable monotony.
You’re sending us to sleep trying to explain your ideology.
The only thing we’re interested in is the action of psephology!
A FUTURE,
FAIRFOUL FOR ALLPound at $1.20, BA in liquidation, no London Transport buses/underground and oh I nearly forgot, the small problem regarding a deficit of £180bn. I do however consider myself the best man for the difficult times ahead !!! What is it about these people who study HISTORY !! Brown clearly wants to be part of it.
‘Crisis? What crisis?’
keep buggering on!
My flight from Washington to London ‘Started in America you know’
This is no time for a Nobhead, Gordon.
What an utter, utter, utter, utter C*nt.
He was worse than that even
That’s a good analogy for Labour — complete fuck up, but the defiant fist punching the air post disaster as if it was meant to happen all along.
What position is our economy in the world? I forgot to look.
COME ON DOWN !!!!
http://www.bloomberg.com/apps/news?pid=20601068&sid=a8c_1vtVGzD8
it’s true, says so here.
*Ashok Kumar, Labour MP, dies*
http://www.ashokkumar.org.uk/uploads/918e355b-9a43-f164-49a3-e5eb3bb812b4.jpg
The guy in the middle’s sphincter must be moving in and out around 120 times a minute at the moment.
Fucking great. Another useless Labour MP gets his call-up papers. More like this please God.
http://news.bbc.co.uk/1/hi/uk_politics/8568583.stm
What can this mean?
“sudden accidental death”.
He choked on his karma.
The poor guy was in a korma for a few hours before he died.
They reckon playing him tapes of Gordons voice finished him off.
Pizzaboys back from Dubai?
I have only two words: Autoerotic Asphyxiation.
Fu*king wanker.
“A police spokesman said: “At this stage it is too early to say whether the death is being treated as suspicious and inquiries are ongoing.”
Have they looked into the possibility it was Co-codamol and a blunt penknife again?
Peter Mandelson looking for a safe seat?
OOOH… naughty naughty. But probable.
This seat is in a perect monkey hanging area for Peter. Middlesbrough is a top shit-hole where they will vote for a donkey wearing a turban if it had a red rosette pinned to it.
I can see it now, Lord Mandelson of Foy & Shit-hole
He would have to renounce his title, and I think Lord Fondlebum is too precious to give up being a nob. Furthermore, he is the wrong colour for South Middlesbrough.
Actually he is Middlesbrough South, which is a rich-middle class area, was a Conservative seat until the last election.
The useless Hunt knew he would be getting outsted because he is a useless wanker who stood-by and watched as thousands lost their jobs at Corus.
I wouldnt be surprise if the police say he was found with a steel girder stuck in his head.
Good riddance to utter foreign shite !
Corus Steelworks farce might impact on the core Labour vote in Middlesbrough?
So farewell Ashok Kumar,
Your “sudden accidental death must have been a shok,
For soon, you will be ash, ok?
(Apols E J Thribb)
Rumour has it he was about to tell the World a few secrest about the Tata scam
Allah Akbar
I had a nightmare about that scenario…or, like you was it a vision?
You can hear his jaw dropping and Darth Vader gasps.
So did peter sutcliff, but do woman feel comfortable with him, the gurning twat?
Isn’t that what the Yorkshire Ripper said
Fucked the economy is.
I abhor GB’s newly adopted “sotto voce” – He sounds like Janet from Dr Finlay’s casebook.
(Actually I can’t listen to the twerp at all)
I rasie you:
The difference is, the US sets the standard for the dollar and has the world’s reserve currency.
OK that situation is becoming more tenuous, but for so long as the US Dollar is the world’s reserve currency and mode global trade is carried in dollars, they have a much greater resistance to the impact of debt.
However, IF the Euro, or a future Eurasian dollar becomes more widely used, and the Chinese and then the rest of the world cease to use the US dollar as a reserve currency, then America’s economy will be utterly fucked. It will be the biggest collapse of an empire the world has seen for thousands of years.
But China holds more dollars than America Mr Ned.
And China is experiencing hyper inflation in the housing market.
Funny that a credit bubble in the Chinese housing market is going to finish of the American economy, isn’t it.
It’ quite ironic really considering it was sub-prime lending that caused so much damage to the American economy and now China is repeating the mistake but on a far, far grander scale.
China will sink the dollar to save the yuan if necessary
Once hyperinflation kicks into gear, Chinese authorities will find it impossible to bring it under control without sacrificing the dollar. Since hyperinflation would hurt Chinese exporters as much as losing their US exports, China will face a clear cut decision. By dumping the dollar peg and selling its USD holdings, China will help contain domestic inflation in many ways:
1) China will no longer be printing massive quantities of yuan to support the dollar.
2) By selling dollars in exchange for yuan, China will be able to take those yuan out of circulation, shrinking its monetary base.
3) Since the yuan will strengthen enormously again foreign currencies, Chinese exports will fall and that means there will be a lot more goods available for domestic consumption.
4) Since the yuan will be stronger against foreign currencies like the dollar, Chinese imports will rise. That means cheaper commodity prices across the board.
5) Dropping the dollar peg will make the yuan a major reserve currency. That means lower interests rates in China as foreign central banks build up yuan reserves.
Hyperinflation is not that far away.
These muppets in the west will keep printing for sure.
We have been enjoying the last fix before going cold turkey.
What do you need to do now?
Reduce your debt – ideally start paying it off totally
Any savings pensions put into safe currencies and/or gold/silver bullion – not paper
Reduce at all costs all the “nice to have” not “need to have” expenditure.
We will have deflation for a little longer so if you want to sell those illiquid “assets” don’t chase the market down, get rid of them now. Cash will be king a little longer.
Actually, wouldn’t you be better holding on to your debt (or increasing it) and fixing your interest rates ?
That way your debt is diminished by hyperinflation and you are protected by the fixed rate. You end up quids in. Stock up on tangibles now.
This was in response to Blue Rossette at 3.59hrs
Anyone have any ideas where interest rates could go ?
Awe fuck we cant sell you opium anymore and we are sitting on fileds of the stuff in Afghanistan!
Today I defended the Gorgon.
Somebody said that Bruin didn’t have the social skills of a pig and I replied that he did.
Just as soon as I find my mobile phone I shall be ringing those stupid f*%kers at Moody’s. Who the hell do they think they are. They don’t understand anything do they. I have a mandate with the people (and Peter). I am doing the right thing. What do they know. It started in America. There will be no cuts, just investments.The fence budget went up year on year. The commanders got everything they wanted. We are not beholden to Unite.
Labour have had their turn at the wheel. They’ve borrowed and squandered for 13 years and now there is nothing left to borrow so they’re reduced to printing money. And faced with this self-realisation of their utter incompetence what do they do? Change direction? Admit they made a mistake?
Fuck no.
They spend the past two years printing and squandering money and setting the country up for a series of class-based strikes the sooner to get another go at the wheel.
I bet its not worth £5k. Certainly not any more.
Just get Fawkes to keep knocking the pound and then when it drops we can blame Labour and he will make a few quid out of gambling on the fall.
It’s a win-win.
Better keep it quiet though as it is a very unpatriotic and politically opportunistic thing to do betting against your own currency.
Why don’t we ruin British Airways?
After all we have screwed the economy succesfully enough.
Dromey and Whelan say….‘Loadsamoneyyy’
Aye. Y’all did such a fucking terrific job with British Coal, British Steel and British Leyland it must really kill you that BA evaded your idiocy for a full two decades longer.
Still, never too late to destroy British jobs in Labour/Union/KGB’s proxy war against the British eh?
If you can’t blame Thatcher blame a blogger, what desperate twats you soviet cock-suckers are!
Knocking the pound is not on my old china.
Be a man and stand up for your country.
“A weak currency arises from a weak economy which in turn is the result of a weak Government” – Gordon Brown.
http://thewiltedrose.wordpress.com/2009/01/23/a-weak-currency-arises-from-a-weak-economy-which-in-turn-is-the-result-of-a-weak-government-gordon-brown/
Evil fucking bastard that he is.
He knows what he is talking about
The Lab zombies are utterly desperate, they have absolutely nothing to offer. Like their head criminal and sociopath Brown, the zombies distort reality to fit their own pathetic and discredited experiment. ZaNuLabour are finished, they successfully killed themselves, though they are too stupid to realise it just yet.
Hmmm. I’m not so sure. I reckon they’ll get their P45 in June alright but the economy is so poisoned that the electorate will not like the medicine that needs to be taken. Plus Unite and the rest of the unions will be spoiling for a fight from day one. The outrageous public sector wage demands will be hitting Dave’s desk even before he gets there.
There’ll be strikes, shrieking nurses, mass marches all summer long. Meanwhile the economy will be barrelling down the shitter while Dave is distracted by all this Union/Labour/KGB shite.
Labour have deliberately destroyed the economy just so that the Tories will get the blame for the desperate measures that will have to be taken and then they (Labour) can get in again in 2015 after the Tories have (hopefully) taken the measures that Brown was to calculating and cynical to take himself.
the evil fucking bastards.
I think that faced with the inevitable public sector strikes by teachers etc (yes even the nurses) we should be preparing a citizens’ workforce…
I know lots of skilled and educated people who’ve been sitting on their hands out of work (let’s face it if you lose your job when you’re over 40 you’re buggered) and they could be enrolled to set up schools, study groups, clinics etc. — they can hardly be any worse than what we’ve got now.
I am not a Labour supporter, I am just a guy who is saying don’t knock the pound when it is on its knees.
You Tories are just as bad as Zanulabour, you are happy to knock the pound if it scores you political points.
Tribalists like you are just as treacherous as the New Labour flesheating zombies.
How can you highlight the economic idiocy of Labour without drawing attention to the fact that they have destroyed the economy and the currency?
It benefits nobody but Labour if we keep our gobs shut about the idiocy at large in the land.
And whether we highlight the fact or not the markets aren’t being driven by Mavis Riley changing her life savings into Euros or gold coins. The markets are fully aware of the idiocy and are acting accordingly.
It is not bloggers highlighting market movements who are dissing the pound. It is the Maximum Imbecile’s policies that have trashed the economy and the pound.
You are talking pish!
Want to bet that any decision is taken *after* May 6th?
A hung parliament will stabilise the economy as it will mean no sudden moves in either direction.
The markets like stability, don’t they?
The markets would not like more QE.
The markets would not like the risk of another general election in less than 12 months. A hung parliment would only be of interest to the markets if the coalition formed looked stable. A lib-lab pact would look incredibly unstable.
Google 1974… stocks fell 45% and Healey had to go to the IMF 2 years later.
http://www.independent.co.uk/news/business/analysis-and-features/rampant-inflation-industrial-unrest-.htmlssion-in-1974-stock-markets-had-a-reason-to-crash-648533.html
I just said something about lib-lab pacts being unstable, apparently such things need modding.
Not when stability is the ship in a vertical position and sinking swiftly beneath the waves.
TaT – yfilarious.
I am a new poster here, what the hell are you going on about?
me too. I was just googling to find out when firework night was and i came across this site quite by mistake.
I was looking for tent supports and camping cutlery.
tats right tit tat tatty head tittle tat have a break have a break have a kit tat kittee tat rat a tat tat load a tat tatty mane tats mine tat’le do tatters roast tattys
You want to go easy on the crack, mate.
It’s turning your brain to mush.
problem is they are such a fucking shower in downing street they think a AAA rating is something to do with batteries.
AAA is what 90% of college leavers have on their exam certificates these days.
only 90% – standards must have slipped.
Our credit rating will soon be XXX.
http://www.telegraph.co.uk/news/newstopics/politics/lawandorder/7428933/Muslim-gangs-imposing-sharia-law-in-British-prisons.html
Don’t we just love Labour and all they support and stand for !!
My laws better than theirs innit
Get a fucking clue before you post this shite Guido. The UK government remains solid AAA material however much you’d like to whip up a storm that it is faltering.
See:
http://news.bbc.co.uk/1/hi/business/8567682.stm
never believe the Brown Broadcasting Corporation. They want NuLiebour re-elected
Yeah, we are impartial and dependable innit
did you write it fore the bbc?
I know who I’d believe.
“Brown is a compulsive liar, he has no truth in his soul. He’s a Liar”
IT’S NOT ONLY BROWN WHO HAS NO TRUTH IN HIS SOUL, IT’S THE WHOLE OF LIEBOUR.
Not so fuckwit -go read the Bloomberg article in full,not the selective BBC edit. The storm has already been whipped up by McRuin and co.
These two governments (US & UK) face the biggest interest repayments relative to the size of their incomes, compared with other economic giants.
In light of the muted (subdued) recovery, discretionary fiscal adjustment (printing money & higher taxes) is now the principal means of repairing the damage that the global crisis has inflicted on government balance sheets,” says Pierre Cailleteau, managing director, Moody’s Sovereign Risk Group.
Cutting government spending could jeopardise economic recovery and damage governments’ power to tax. However, postponing spending cuts for too long is also a risk, effectively “testing the patience of the market”. This could lead to rising interest rates, reducing the ability of governments to raise debt in the future.
Looks like he said “fucked if we do & fucked if we don’t”. How is that AAA?
The U.S. would be the “most affected” under the adverse scenario, as the only country that would face a downgrade, Cailleteau said. The company’s baseline scenario assumes that all current AAA sovereigns will keep their ratings over the next three years, he said.
As Sir E says, “go read the Bloomberg article in full”
In America they have guns! Just an observation like!
March 15 (Bloomberg) — The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, according to Moody’s Investors Service.
The governments of the two economies must balance bringing down their debt burdens without damaging growth by removing fiscal stimulus too quickly, Pierre Cailleteau, managing director of sovereign risk at Moody’s in London, said in a telephone interview.
http://www.dailymail.co.uk/news/article-1258060/Gordon-Brown-Ill-remain-Labour-leader-lose-election.html
Should read “When you lose ! “
I see the Common people vid not as anti Conservative but as a metaphor for the way ALL politicians have fucked us,the people.
Choose from the Set menu and kid yourself you have been given a choice but don’t be suprised when another plate of shit is brought to your table.
Simple, just include a small suffix and…
AAARGH!
http://www.timesonline.co.uk/tol/news/uk/article7062249.ece
He who pays the piper calls the tune………… so late in making a comment on the BA strike situation, must have had to wait until UNITE gave the green light !
http://www.telegraph.co.uk/news/newstopics/politics/gordon-brown/7447406/Gordon-Brown-declines-to-criticise-Unite-over-British-Airways-strike.html
Pierre Cailleteau?
I wonder if he remembers agincourt. or for that matter not the nine o’clock news.
I think we should all vote for Labour because Brown’s beard had a child who died. It’s the right thing to do.
Read the update.
Article written on behalf of the Labour Party by the BBC
Looks like another Balls up !
http://www.dailymail.co.uk/news/article-1257951/James-Bulger-killers-Jon-Venables-Robert-Thompson-NOT-intrinsically-evil.html
Ed Bollocks thinks he has the public mood on this one
**** BREAKING NEWS****
David Beckham has died. The pundits still reckon this will not affect his chances of appearing at the World Cup
In the meantime
Questions about the BA strike – in the House of Lords…..????surely some mistake????
The BBC wants Brown re-elected, so there is a concerted news agenda operation going on. They will remove any anti-Labour news story and replace a) with any David Beckham, b) any other Tory bashing story, and c) any other story except the real Labour sleaze story. You get the drift?
Evidence emerging of a party within a party again in Liebour.
Why would you give over £11m in 3 years to some one for nothing in return?
A BBC report quoted there being at least 160 Liebour MPs associated with the Unite union.
And lets not forget
Charles Alexander James “Charlie” Whelan (born 3 February 1954, north-east Surrey) is political director of the British trade union Unite. He rose to prominence as spokesperson for Labour politician Gordon Brown from 1992 to 1999.
Now back spinning too for Gordon
Then there is Jack Dromey, parachuted into a safe seat.
Why on earth would you want to be an ordianry liebour member when only unite can call the shots?
And you thought you got rid of a party within a party in liebour when Kinnock defeated Militant?
The logic is that if a country is set on a course to breach the 12% GDP debt servicing costs, then the AAA rating should be automatically lost once the trajectory becomes clear.
It is better to force the driver of the school bus to put the brakes on before he goes over the edge of the cliff, not wait until it is too late.
We are now at the point of “When?”, the “If” has already been answered.
Given that Government forecasts are always excessively optimistic, on our present course we will be in the sh*t sooner than anybody expects.
The rating should be restored once the necessary policies are in place to avert disaster.
You’re right Moley. The ratings agencies have already given clear warning that they don’t like the direction the Maximum Imbecile is headed in but since he’s due for a P45 soon then they’ll not trash the UK debt-rating until they see that Cameron is going to get a grip.
If Labour or a hung parliament influenced by the Maximum Imbecile results then it’ll be down-grade time by return of post.
Not that I give a shit. Higher interest rates = more money for me plus cheaper houses.
Gilts with a 10% coupon, anybody?
Good for savers, not so good for taxpayers.
The outcome will be neutral for taxpayers – in fact it might be overall better for taxpayers. I’ll explain.
There is only so much money the government can screw out of taxpayers. That figure/percentage has been long-since passed. So the borrowing has to stop. We will have to balance our budget. Higher taxes won’t work because it will just put more and more people out of work. So the government will just have to balance the budget. It doesn’t matter to the taxpayer if a balanced budget is spent on loan repayment or box-tickers. The money has gone. There is no more money to be taken.
In all likelihood more money will be spent on loan repayments and less on box-tickers which will have a virtuous effect on the economy since an unemployed box-ticker costs only a fraction of the cost of an ‘employed’ box-ticker.
Higher interest rates mean cheaper house prices so young families will once again be able to afford their homes instead of putting themselves in hock for 25 years.
10% interest rates coupled with P45s for all of Browns made up ‘jobs’ are just what is needed.
I wonder if any of the agencies will have the guts to downgrade the rating just before May 6th – if you wanted to ensure that the UK Bus was steered in the right direction by the British people, then this would be the optimum time to strike.
So many analagies with prior to 1979 with the unions again destroying the country. Who says history never repeats itself? And liebour again involved heavily with union influence.
Who Are The New Breed of “Sponsored” Labour MPs?
A party within a party?
Why dont liebour just change their name to “UNITE”
But perhaps of even more significance is the fact that in the same scenario, more than 50% of Labour MPs will also be first timers. Who are these people? Anecdotally, nearly half of them will be wholly owned subsidiaries ofsponsored by the UNITE union. Perhaps Labour should consider changing its name.
http://iaindale.blogspot.com/
“Why dont liebour just change their name to “UNITE””
Give them time, the comrades will have to rebrand after this poxed government are consigned to the dustbin of history once again.
I don`t think New New Labour will work somehow.
The first decade will have to be spent distancing themselves, from the “old” tax and spend, class warrior, wealth destruction, social engineering, freedom hating, warmongering, New Labour. Then come up with a catchy ditty and of course the essential ingredient, a charming con man.
By then the economy will be restored to some form of well being and the gullible public will be drawn in to yet another socialist big bang, boom and bust and the entire circus repeated ad infinitum.
Ha ha – an evil Nu Liebore scum-sucking animal dies.
The lying thieving black pig, Ashok Kumar, fell down fucking dead this morning (hooray!). He was scum trash who went into politics to thieve from taxpayers.
As you might expect (being a token black in the Nu Liebore multicultural destruction of Britain) he claimed the most he possibly could at all times, and was a fat slimy pig-faced bastard from gluttony.
Rot in Hell you black Nazi Nu Liebore pig bastard.
You’ll not be attending the funeral tea, then?
Only to make sure the bastard is well and truly buried. Bring your own stake.
Pity that other local MP Stuart Bell did not go the same way !
I bet the family forget to STOP claiming expenses, benefits and anything else not screwed down!
Thieving, it’s in their genes.
Indeed – The grabbing token Nu Liebore black pig, Trevor Phillips, has a nice ploy of making useless blacks at the “Equality and human rights” bollox quango, redundant, with massive pay-outs, then rehiring them.
Also, he seems to have something going on with the dirty old slag, Harriet Harman, as she appointed him to 3 more years on the “Equality and human rights” gravy train (£112,000pa for pasrt-time work), without reference to any public scrutiny whatever, even though the loathsome black has a history of corruption, cronyism, and hatred and intimidation of whites.
Once they try black, they never go back. You don’t think Jack Dromey’s tiny little wiener puts a smile on Hatty’s face do you?
The fact that he is dead will not stop him getting re-elected in South Middlesbrough – the votes have already been posted.
British West Hartlepool and the monkey come to mind!
Ha ha ha – funny by true.
Of course the electoral commission see nothing suspect about 9500 men called Gupta living in the same one bedroom flat, and all posting their votes in for a Nu Liebore token black, with the face of pig.
Oh dear, I fear the typists, and general little people in No10 are going to be receiving a fearful battering when this news reaches the Fuhrer and Boorman Balls.
I am hoping very much the Loony or one of his henchmen will be asked by Cameron about why it is moral to pay more in debt interest than we pay on our edyukashuns innit
Forgive me but am I missing something?
Has it been said elsewhere – above etc?
BUT
This BA / UNITE fracas is the same as Tory vs NuLab !!
BA wants to CUT NOW – UNITE doesn’t really want to cut at all!
LIKEWISE the UK budgets
NuLab = DO NOTHING
Tories = CUT NOW
BA won’t go bust if it cuts now
UK is bust but stands a chance if it addresses the problem now
My point is –
The Tories should be using this as an example of -
The right thing to do
Not just politely asking NuLab not to take any UNITE cash !!
Agreed
The Tories must make more of this – Brown fears this situation like no other
The Tories must use this as a practical situation to illustrate their policies
Come on Osborne – get it done – NOW!
Is any Tory CCHQ member listening?
Do it now – Brown is FRIT !!!
My experience of BA cabin crew is either of the highly-strung devotee of Judy Garland who is “in between” theatrical jobs, or the sour-faced moody cow who was once a model in the 1970′s. Both with a huge sense of entitlement and a work ethic that would shame a scouser with a 25-year sick note. Perhaps they are a micro-cosm of what our country has become.
and geordies are jocks with their brains kicked in
And those are only on duty for the outward flight… the return flight is staffed by bitch-faced concentration camp guards who get angry if you make the slightest request instead of going to sleep, so they can finish off the chardonnay undisturbed.
meanwhile Gordon gets the hoped for distraction.
http://www.thetreeofliberty.com/vb/showthread.php?t=95995
I think this country has lapsed into a hypnagogic state and the government has been living in some dreamworld in regards to dealing with the economy. Boom without Bust is just one of New Labour’s hallucinations and those illusory WMD’s. We have been living the British dream and are now awakening from the nightmare that is New Labour.
‘The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, according to Moody’s Investors Service.’
So let me get this straight – it’s Labour’s fault that Bush and the Republicans fucked up the American economy?
Seven per cent?
Of all tax?
Jesus Fuck.
Umm, how about reading the whole article?
The U.S. would be the “most affected” under the adverse scenario, as the only country that would face a downgrade, Cailleteau said. The company’s baseline scenario assumes that all current AAA sovereigns will keep their ratings over the next three years, he said.
So Cailleteau says that he assumes that all AAA countries will keep their ratings, but if one of them will lose it, it is most likely to be the US. In fact Cailleteau specifically says the US would be .. the only country that would face a downgrade
Sheesh, you lot are such big girls’ blouses. I bet you are scared of spiders too.
Oil price is in US $. Watch it fly.
I feel more comfortable with women – less chafing than “Mr Fist” or a Brazilian Boy’s derriere.
Just a touch of arrogance is still within Labour…..
Kinnocks…..well there is another gravy train chugging along very nicely!!
McLoon stating that he won’t leave Downing Street if he loses the election can’t help either.The markets view that Gordon is a nutter have just been confirmed by the man himself
Well I followed Guido’s link;
UK Credit Rating Viewed As Safe
And it’s one of those famous BBC articles where the headline says one thing and the body of the text says the exact opposite.
Nobody in their right mind would consider that the text justified the headline, which is pure Pravda.
Is there anybody in the BBC who hasn’t been castrated?
Clarkson on yesterday with guns. luvly
the ides of march
http://www.thespoof.com/news/spoof.cfm?headline=s1i70875
maggie she say no to BA strike.
somebody please wipe my botty.
Moody’s rating of Lehman Brothers before the crash – AAA+.
We did well didn’t we!
Are their ratings any more accurate now?
Standard and Poors still says AAA
That is the battery size for the Sarahs little Rabbit
>>>>>>>>>>>>>>BREAKING NEWS REUTERS<<<<<<<<<<<<<<<<
The EU admonish Gordon Brown and the UK government over the budget deficit and calls on the UK to make bigger cuts.
This is + for Osborne and a big minus for that Hunt Cable and the big Hunt darlingBrown
LibDems will definately vote with Brown since they believe they can then manipulate control over Brown and his regime.
Problem with this “strategy” is their ambition is well ahead of their basic capabilities and they will fail badly, and again the country will suffer.
Personally I do not believe it will be a hung parliament and that LibDems will lose out as most people believe they are opportunists and Clegg has no stature.
Back to the original statement.
Warren Buffet’s Hathaway lost its AAA rating to AAa some weeks ago.
I would rather invest with him than the UK in the medium term.
EU tell Britain and Brown you stupid Hunts get your debt down. Or words to that effect in diplomatic speak.
http://uk.reuters.com/article/idUKTRE62E3XH20100315
Finish Doctor ready to amputate Beckhams leg as Hospital fields and fends off calls from number 10 downing street who want Brown to go to the Hospital for a photo op.
Posh and Milan team as well as the FA have banned Brown from any annoucements or visits to Beckham.
Gordon has said he will give David a Knighthood when he leaves office in 6 weeks
Sry Gordon feels his pain, as when he was a wee nipper pklaying Rugby, when his eye popped out, he lost both Achilles heels a knee cap and he suffered a heart defect.
Doctors in Jockland stated they do not believe the PM as he shows no sign of having a heart. But he does have a mangina, well used by lots of semen (sick) from the Scottish Navy. He is a Rum old chap
Britain needs to wake up, Brown and his Brownies want to stay in power and have their cushy numbers and free Jags. Labour are not for the people they are for themselves. As for Clegg he is a “Nowhere Man” along with his party. To save Britain the Conservatives need to get back into power, and get Ken Clarke to sort it all out….watch this space!