Tuesday, June 28, 2016

How Did They Work That Out?

International ratings agency S & P has downgraded great Britain's sovereign debt rating from AAA to AA.     That's a pretty savage downgrade.

Funny thing, I thought.  The ninth largest economy in the world votes to shrug off the debilitating and corrupt EU but the ratings agency gives it a beating.   I would have thought it was the EU that needed a kick in the pants, rather than Britain.

Still, this is the same Standard and Poors which told the world that AIG was fine, just weeks before the mortgage insurer collapsed under the weight of Democratic Party inspired mass home loan defaults, triggering the Global Financial Crisis.

If I had to choose between lending to Britain or to what's left of the EU, it would be the Brits every time.

13 comments:

Johno said...

Economic growth in the UK has exceeded that of the EU since ... basically forever. Aside from Germany and the UK its member states are unproductive bludgers.

The UK will get over this short term impact and be better for it long term.

Meanwhile, lefties are wailing about the assault on BigGovernment...

Anonymous said...

More uninformed claptrap from the home of the permanently bewildered.
Want to put your money into sterling do you....best of luck with that. France with about the same population as the UK is the 5th largest economy in the world. UK 6th.

The economic illiteracy shown on this blog is disturbing if you take into consideration that Flinko and Johno have the vote.

How do you sum the events of the last few days? The argument for democracy as a failed concept is bolstered by a two minute chat with the average voter. Millions of people now believe that all immigrants from wherever are about to be deported which is already leading to civil unrest....and the UK is ten weeks away from triggering article 50.

Lord Egbut the twice cursed immigrant.


Adolf Fiinkensein said...

Bullshitting again Legbut

UK is No 9, France is No 10.

Anonymous said...

Standard Flinko response to anything that actually involves two brain cells accidental colliding.

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

This was before Brexit now France is 5th.

You are rapidly becoming irrelevant and are filed along with Mr Angry.

Lord Egbut Nobacon

David said...

Why does anybody give any credence to these unelected, unaccountable elites?

It is their Standards that make us all Poor.

Johno said...

Egbut, you're just embarrassing yourself now. I discussed GDP growth yet you think you can rebut that by citing the size of the economy? By your peculiar understanding a large economy in recession is doing better than a smaller economy in growth - hilarious.

And you couldn't even read your own cite - UK above France on all sources - despite your made up comment about France.

So patiently repeating a simple concept to the irredeemably dimwitted (that's you, Egbut): GDP growth:

https://en.wikipedia.org/wiki/List_of_countries_by_real_GDP_growth_rate

UK: 2.5%, France 1.2%

BTW: GDP per capita: UK miles ahead of France:

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita

Even backwards NZ is ahead of France according to World Bank and UN!

Anonymous said...

Unfortunately the World bank and the UN don't actually live in NZ. According to my wallet buying food in France is 20% cheaper than NZ. Poultry, beer, wine and vegetables are just so much cheaper with a leg of NZ lamb at $19 to $21 NZ dollars. In the UK even with it's import tax NZ wine can be bought cheaper than NZ. That 20% is actually more if you consider the much higher wages in France and the UK.

But don't worry, NZ leads France in some statistics like Road deaths, child abuse, domestic violence, failing schools and very little investment into the infrastructure like roads, rail, electricity and education so the GDP comes at a cost.

But having a home in all three countries does give me a certain knowledge based argument and if I inform you that the standard of living and quality of life for the average working person in France is light years ahead of both the UK and NZ then I expect you to believe me.


Lord Egbut



Anonymous said...

Spot on..

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10781924

Johno said...

Egbut, and your anonymous unverifiable anecdotes about home ownership and the price of fish in Norway are just irrelevant diversion from the topic at hand: the economic performance of the UK vs France and the deadweight of the EU.

That you attempt to drag the discussion away to the the price of chickens in NZ just shows how lost you are.

Johno said...

Now you're quoting numbers for the price of a Big Mac in Hong Kong, so support your argument against UK having a better economy that France/EU?

Good grief.

http://www.economist.com/content/big-mac-index

Anonymous said...

You haven't quite got it yet have you?

UK has been in the Free trade area for 40 years so measuring against the EU is pointless. Nor can you compare UK against France in stats only. For example only 1.5% UK citizens work a 40 hour week, in France most people work a 36 hour week. Zero hours contracts are banned in France (as in NZ) but not in the UK.

So if you want to compare a box of apples with a box of pears, be my guest but when it comes to quality of life including affordable housing, quality food and leading the Euro contentment tables then France wins.

Lord Egbut Nobacon..lost in France.

Johno said...

I've been measuring it against France specifically, not the EU.

Of course you can compare in stats only. It's called comparing apples with apples. It is the only way to compare, in contrast with your own muddled waffling about economy size or Big Mac prices.

You just can't deal with being shown up as plain wrong, can you?

"Euro contentment tables"? This is pathetic. You are getting slapped about with facts and you come up with "Euro contentment tables"?

As you keep desperately trying to divert away, I will remind that this thread is about economic performance of GB vs France and EU. It is not about the latest unscientific non-fact that Nobut can find.

Anonymous said...

OK, you win...UK is an economic powerhouse and France is a dole bludgers paradise where people sit around in striped jerseys and berets getting pissed on Pastis.

Now that have been bludgeoned in to defeat why don't you buy a ticket and broaden your mind.

Lord egbut