AAA lost

[ajrtd]

So team GB has lost it's triple a status, much pain to come.

 

[joe-90]

Which means that borrowing costs will rise and the UK goes bust even faster. Where Greece went - the UK will follow.

 

[hansthebear]

True, just like how america has gone bust since losing AAA

 

[joe-90]

They've been bust for years.

 

[joinerjohn]

So, the only two major economies to retain the triple A rating are Germany and Canada,,,, I bet Cameron and 3/4 of the country won't sleep tonight. Now, if at some point in the near future Moodys decide to downgrade Germany, I reckon Angela Merkel would have nightmares. The way the Eurozone countries are going, I can't see it being too long before Merkel's in a secure psychiatric unit.
TBQH, what would happen if Moody's, decided to downgrade every single country in the world, to the lowest possible rating? Do you think it's a good thing that companies such as Moodys can and do have such a bearing on the financial markets at world/country level?? I for one don't.

 

[chapeau]

It's been a long time coming, ten years or more.

How the Chinese see the world...

http://en.wikipedia.org/wiki/List_of_countries_by_credit_rating#Dagong

I reckon that's closer to the real picture

 

[Infidel]

I've got loads of triple A's in the draw if the governement want a loan.

 

[tony1851]

The UK has lost it's AAA rating with Moody's largely because of high and ultimately unsustainable government borrowing.
And why is governmnt borrowing so high? -mainly due to welfare spending and cosseted workers in the public sector.
No government in modern times seems capable of bringing benefits DOWN, rather than just stopping them rising quite as fast as they once did.

 

[joe-90]

It's all Gordie's fault. He allowed banks to lend 5 or 6 times salary, so house prices doubled every five years and made us all rich.

So because wages couldn't keep up with rents and mortgages the tax credit system was introduced to pay the difference.

The only problem is that the government paid for Tax Credits by borrowing from abroad. Now it can't stop. If tax credits stop then there will be wholesale defaults like in the USA and the banks will crash yet again by getting lumbered with a whole bunch of houses that have little retail.

There is no way out. Only when we go bust and default on our loans can we get things back as they should be.

 

[gregers]

so join the 'AA' the fourth emergency service.maybe they can get us out of the mire??

 

[ellal]

It's all Gordie's fault. He allowed banks to lend 5 or 6 times salary, so house prices doubled every five years and made us all rich.

b*llocks...

It goes way back to when the b*tch decided to make her buddies rich by forcing house prices up...

There is no way out.

Oh yes there is, and you've already said it...

Only when we go bust and default on our loans can we get things back as they should be.

Bingo...

Or should we just say Iceland...

 

[joe-90]

You can't force house prices up if people can only borrow 2.5 times income. If you think that you can - tell us here and now.

 

[Whitespirit66]

Losing the AAA rating might not be the end of the world.

However, it is yet another sign of 'Great' Britain's slow and unremitting slide downwards. We're just becoming a nation of non-producing consumers, who can no longer afford ourselves.

Those at the top don't have a clue what to do about it.

 

[joe-90]

Losing the AAA rating might not be the end of the world.

Yeah but it may be the end of the beginning.

 

[ellal]

You can't force house prices up if people can only borrow 2.5 times income. If you think that you can - tell us here and now.

You blamed the wrong person...

If you think multiples of income you suggest (along with uncertified mortgages) came in with him, then you are sorely deluded...

And whilst you're about it, how about you tell us who brought in MIRAS...

And then who increased it, and who then abolished it...