"Britain Beseiged" - UK's AAA Credit Rating to be Downgraded?!
May 22nd 2009, 5:06 pm
#1
Thread Starter
Joined: Feb 2002
Posts: 6,848
"Britain Beseiged" - UK's AAA Credit Rating to be Downgraded?!
An alarmist report for sure in today's 'New York Post' (tabloid owned by Rupert Murdoch)
http://www.nypost.com/seven/05222009...ged_170441.htm
However....it does say that in the United States "the government's debt load is worse than Britain's"
Also:
http://news.sky.com/skynews/Home/vid...980:thumbdown:
I guess that the bottom line is, one way or another everyone will end up paying even more in various taxes....
http://www.nypost.com/seven/05222009...ged_170441.htm
However....it does say that in the United States "the government's debt load is worse than Britain's"
Also:
http://news.sky.com/skynews/Home/vid...980:thumbdown:
I guess that the bottom line is, one way or another everyone will end up paying even more in various taxes....
Last edited by Englishmum; May 22nd 2009 at 5:13 pm.
May 22nd 2009, 5:35 pm
#2
BE Forum Addict
Joined: Jan 2009
Location: South Auckland
Posts: 2,228
Re: "Britain Beseiged" - UK's AAA Credit Rating to be Downgraded?!
Some investors think Stan dard & Poor's is slamming a big target like Britain just to make up for dropping the ball on its junk mortgage de bacle.
"S&P also gave AAA rat ings to junk mortgage paper, and you see what hap pened," Schiff noted. "All it had the guts to do this time with Britain was to lower their outlook."
The International Monetary Fund said Britain's debt load will be 66.7 percent of its gross domestic product in 2010, compared with Germany's 58.1 percent and Canada's 29.1 percent. The US will be at 70.4 percent and the euro zone will be at 68. [email protected]
"S&P also gave AAA rat ings to junk mortgage paper, and you see what hap pened," Schiff noted. "All it had the guts to do this time with Britain was to lower their outlook."
The International Monetary Fund said Britain's debt load will be 66.7 percent of its gross domestic product in 2010, compared with Germany's 58.1 percent and Canada's 29.1 percent. The US will be at 70.4 percent and the euro zone will be at 68. [email protected]
