Saturday, September 15, 2012


I see that the Egan-Jones rating agency has cut the  US credit rating to AA-.  You can  read it here.

No doubt the Obama apologists will 'spin' this as good news.


Adolf Fiinkensein said...

That won't help Fonterra's fifteen thousand or so cow cockies.

With apologies to the late John O'Brien:-

"We'll all be rooned, said Hanrahan."

Will be interesting to see how the polls go after this lot Obama's latest round of foreign policy triumphs.

The Veteran said...

Judge ... threadjacked, comment deleted.

Mike Asplet said...

It's a good thing that F&M and S&P are the only two credit ratings that the big NY and Chicago banks listen to (given that they still organise all the lending to China).

In any event, its bad nes for everyone if the US currency takes a dive, not least of all small little countries like ourse, whose major banks (and indeed the RBNZ) have too much tied up in the US for a risk rating to go AWOL.

More selfishly, I could do with an interest rate increase over here. 0.25% on term deposit just doesn't cut it :p