Downgrading of the US Debt Credit Rating from AAA
06 August 2011, 03:55 PM
#31
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So essentially the states will be one of Chinas colonies a couple years down the line , unless they wish to fork out even more intrest on their sub 
07 August 2011, 11:54 AM
#37
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When you look at the world Economies China and Germany stand out like beacons.
China are great because their populous will work for very little and do not demand to be looked after and do not aspire to consumption .... the Germans are, as always, ruthless in their efficiency - you get what you deserve mentallity.
You look at the US and the UK ... we have hoards living on benefits - feeding off the hard work of others, being a drag on society and contributing nothing.
The Spanish and Portuguese .. with the Greeks, and Italy are not renowned for their hard work and diligence ..... Italian products are total crap - Spanish built cars (in the 70's were known to be the worst of the Ford range).
Only the nations who work, and reward hard work and quality goods will see their way through this.
The UK, sadly, is now a Chav benefit grabbing haven for pond life .... yes, I blame Labour in the main for this - but, I would like to see the Tories clamping down far more on claimants.
We are entering a new order, Monday will be a Black Monday for the Stock Markets ... August is the mad month in any case ...... this could be really tricky.
China are great because their populous will work for very little and do not demand to be looked after and do not aspire to consumption .... the Germans are, as always, ruthless in their efficiency - you get what you deserve mentallity.
You look at the US and the UK ... we have hoards living on benefits - feeding off the hard work of others, being a drag on society and contributing nothing.
The Spanish and Portuguese .. with the Greeks, and Italy are not renowned for their hard work and diligence ..... Italian products are total crap - Spanish built cars (in the 70's were known to be the worst of the Ford range).
Only the nations who work, and reward hard work and quality goods will see their way through this.
The UK, sadly, is now a Chav benefit grabbing haven for pond life .... yes, I blame Labour in the main for this - but, I would like to see the Tories clamping down far more on claimants.
We are entering a new order, Monday will be a Black Monday for the Stock Markets ... August is the mad month in any case ...... this could be really tricky.
Glad to see that you are accepting that NL was to blame in the main for the situation this country is in now.
Billy Liar and his " on the sofa cabal" should be strung up as traitors, and this present lot had better get their fingers out and start doing something of note to counteract the looming disaster!
Les
07 August 2011, 01:32 PM
#38
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There is no point in economic growth for growths sake. Surely the end result of economic growth is to make life better for everyone, therefore a happier life.
08 August 2011, 07:42 AM
#39
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I agree that China has problems though. Never mind the fact that, using current technology, they could never really consume at the American level. I read that for them to consume as much oil per capita as the U.S., they'd be demanding three times the current world oil production. Then there's the other resources they're clearing the planet of. Something like an area the size of Belgium disappearing from the Amazon every year, an area the size of Switzerland from Indonesia. They also seem to be sucking rivers dry!
The problem is that it's difficult to tell them to stop/clean up their act when they're only trying to enjoy the standard of living we've had for a long time now.
Edit - actually I've just looked at more recent deforestation figures and they've reduced (official) clearance of the Amazon significantly.
Last edited by GlesgaKiss; 08 August 2011 at 08:15 AM.
08 August 2011, 07:51 AM
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It's pretty unlikely a country that has debt denominated in it's own currency defaults. It's usually when the debt is foreign currency denominated that they default (i.e in Argentina where it was USD denom.) Why? Because you just print more money and inflate your way out of the debt.
08 August 2011, 08:06 AM
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It's pretty unlikely a country that has debt denominated in it's own currency defaults. It's usually when the debt is foreign currency denominated that they default (i.e in Argentina where it was USD denom.) Why? Because you just print more money and inflate your way out of the debt.
dl
08 August 2011, 10:02 AM
#42
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Am i the only one to have framed this?
An astoundingly balanced post. What happened?
Markets this morning relatively calm. ECB buying Italy and Spain paper in size, and it's helped. China hold all the aces now. They handed the USA their **** on a plate, and rightly so. If China bail out, it gets ugly. If America address their debt and China keep their nerve, we could just get through it. No obvious chain of events at the moment.
08 August 2011, 10:22 AM
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We're seeing things as relatively stable at my work too... certainly not the nightmare that was expected this morning. apparently there was some massive miscalculation around US debt when the rating was downgraded... somethign like £2 trillion i'm told, which has left the markets feeling more confident that the US won't default than perhaps they should be!
only time will tell...
only time will tell...
08 August 2011, 11:24 AM
#45
I noticed things plummeting this morning, fell of my bloody bike on a greasy roundabout, first off in four years of commuting.
My Amec shares have gone from 11 plus quid to about 8, thats my new car dissapearing into the distance yet again, of well, who cares, at least I dont live in Tottenham.
My Amec shares have gone from 11 plus quid to about 8, thats my new car dissapearing into the distance yet again, of well, who cares, at least I dont live in Tottenham.
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