Standard & Poor are reported to have stated that 'the United Kingdom's "AAA" rating is not yet in danger.'
That's alright then.
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6 comments:
...except that a reckoning stalks the rating agencies themselves:
http://www.safehaven.com/article-9410.htm
It is hard to believe my eyes reading the news, commentary and analysis of what is going on in the United Kingdom, S.
The Prime Minister is addressed, described and accused in ways that are literally beyond belief.
The Cabinet is filled with other 'politicians' without political skill, certainly, but many without the bog standard reputation commonly accorded to anybody until they deserve to lose it - and they have all lost even that under an avalanche of accusations and admissions of outright corruption and immoral skirting of the rules of common decency.
They avoid tax, claim expenses never intended for the purposes they are put to, have close family members that have been doused in the same filth, even their dogs must be thinking of reporting in to the RSPCA in the hope of re-homing.
And the incompetence levels displayed in economics, finance, fiscal affairs, immigration, foreign affairs, war, constitutional affairs, law, and now religious leadership.
What is left for them to instigate now but the creation of poverty at its most basic level of lack of shelter, heat, food and medicines, topped off with worklessness not seen since the first half of the last century.
What gross improprieties, what grotesque acts are still to come to light?
In your original post, I think the operative word is "yet". Our wise leaders are working hard on it.
'Yet' may be a long way to go to junk, but how far to lose investment grade? Y.
Apart from Sackerson's noting that the rating agencies themselves are to be reckoned with. How vested is their interest?
The most concise definition of the UK Govt I have ever seen: standard poor.
Every time I see standard and poor I'll think of Gordon's 'economy', Nomad.
That feeling of the long pull back by the sea as we wander out onto the wet sand to examine Northern Rocks is getting stronger.
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