Moody Downgrades UK - Debt Burden Expected To Rise

YouKnowWhatIMeanLike

Well-known member
Joined
Apr 13, 2011
Messages
7,173
Moody casts dark clouds over the Little Englanders. The mountain of debt the UK has accrued and continues to pile up every day is mind boggling. It's not rocket science to predict a sovereign default in the UK in the near future. Therefore any future bailout of the UK should be discussed as part of the Brexit negotiations. Any government debt securities dealings with the ECB should be physically-backed.

https://www.moodys.com/research/Moodys-downgrades-UKs-rating-to-Aa2-changes-outlook-to-stable--PR_372649

Is Ireland sufficiently insulated from certain economic turbulence in the UK?
 


gleeful

Well-known member
Joined
Feb 7, 2016
Messages
7,520
Moody casts dark clouds over the Little Englanders. The mountain of debt the UK has accrued and continues to pile up every day is mind boggling. It's not rocket science to predict a sovereign default in the UK in the near future. Therefore any future bailout of the UK should be discussed as part of the Brexit negotiations. Any government debt securities dealings with the ECB should be physically-backed.

https://www.moodys.com/research/Moodys-downgrades-UKs-rating-to-Aa2-changes-outlook-to-stable--PR_372649

Is Ireland sufficiently insulated from certain economic turbulence in the UK?
Bailouts? Who would do that for a post-EU UK?
 

Seanetta

Active member
Joined
Aug 19, 2017
Messages
277
Website
www.facebook.com
Oh so it's just England is it?? Not Wales or Scotland that have debt aswell?? Your quote of little Englanders is stupid. Scotland has a massive deficit a huge black hole in their finances, oh but no it's all England's fault pathetic your comment is. Ireland also has huge debt still don't think your sitting always comfortably. I have Irish parents but live in England and I find your comment arrogant
 

Levellers

Well-known member
Joined
Apr 30, 2011
Messages
14,061
Oh so it's just England is it?? Not Wales or Scotland that have debt aswell?? Your quote of little Englanders is stupid. Scotland has a massive deficit a huge black hole in their finances, oh but no it's all England's fault �� pathetic your comment is. Ireland also has huge debt still don't think your sitting always comfortably. I have Irish parents but live in England and I find your comment arrogant
Bit touchy today are we?

It was the Little Englanders who drove the Brexit vote. Personally I'm delighted with the Brexit vote as it will lead to the destruction of the UK.
 

Surkov

Well-known member
Joined
May 31, 2016
Messages
4,614
Ratings agency Moody’s downgraded the UK’s long-term issuer rating to Aa2 from Aa1. Moody’s revised up its outlook on the country to stable from negative.
Link

 

dundealing

Duplicate Account
Joined
Jan 22, 2017
Messages
599
Oh so it's just England is it?? Not Wales or Scotland that have debt aswell?? Your quote of little Englanders is stupid. Scotland has a massive deficit a huge black hole in their finances, oh but no it's all England's fault �� pathetic your comment is. Ireland also has huge debt still don't think your sitting always comfortably. I have Irish parents but live in England and I find your comment arrogant
Scotland and Wales have had no choice in the matter , never mind perhaps trump will buy you lot outright, he already has the pimping rights anyway .
 

Seanetta

Active member
Joined
Aug 19, 2017
Messages
277
Website
www.facebook.com
No it won't lead to the destruction of the UK that's in your dreams. There's plenty of countries outside the EU who are a success. So what you got against England then?? You still living in the past of what happened between England and Ireland?? Well, that wasn't the English peoples fault that was down to leaders so your obviously touchy and arrogant. Ireland is in a big mess themselves. It was people who made their own minds up about Brexit. So you think the ordinary English person forced Welsh people to vote leave?? Your comments are pathetic
 

YouKnowWhatIMeanLike

Well-known member
Joined
Apr 13, 2011
Messages
7,173
Oh so it's just England is it?? Not Wales or Scotland that have debt aswell?? Your quote of little Englanders is stupid. Scotland has a massive deficit a huge black hole in their finances, oh but no it's all England's fault �� pathetic your comment is. Ireland also has huge debt still don't think your sitting always comfortably. I have Irish parents but live in England and I find your comment arrogant
lookit Seanetta, what goes up must come down. and no bother, little Englander is just a figure speech here ...
 

YouKnowWhatIMeanLike

Well-known member
Joined
Apr 13, 2011
Messages
7,173
No it won't lead to the destruction of the UK that's in your dreams. There's plenty of countries outside the EU who are a success. So what you got against England then?? You still living in the past of what happened between England and Ireland?? Well, that wasn't the English peoples fault that was down to leaders so your obviously touchy and arrogant. Ireland is in a big mess themselves. It was people who made their own minds up about Brexit. So you think the ordinary English person forced Welsh people to vote leave?? Your comments are pathetic
I think it's fair to say it was England that had the decisive vote here on Brexit. still wondering how Wales got a 48% Remain and 53% Leave vote here though...

 

NYCKY

Moderator
Joined
Apr 17, 2010
Messages
13,292
Moody casts dark clouds over the Little Englanders. The mountain of debt the UK has accrued and continues to pile up every day is mind boggling. It's not rocket science to predict a sovereign default in the UK in the near future. Therefore any future bailout of the UK should be discussed as part of the Brexit negotiations. Any government debt securities dealings with the ECB should be physically-backed.

https://www.moodys.com/research/Moodys-downgrades-UKs-rating-to-Aa2-changes-outlook-to-stable--PR_372649

Is Ireland sufficiently insulated from certain economic turbulence in the UK?
It's now down to just two notches below Aaa and about five notches above Ireland (that is after several recent upgrades). I hardly think default is likely in the near future.

What gives you that impression?
 

Wascurito

Well-known member
Joined
Apr 18, 2017
Messages
7,298
I posted about this in another thread last night. I'm sceptical about Brexit and about the irrational brexhuberance of the Brexiteers waffling about "fentestic trade deals".

But I'm even more sceptical about the ratings agencies.

How can anyone take a firm that is called ‘ Moody’s ‘ seriously on Economic predictions ......!
They're (including other credit agemcies) corrupt scum whose corrupt scumminess contributed so much to the 2008 sub-prime crisis. Unfortunately, many folks - including the sovereign debt markets - still listen to their opinions.

This intervention is curious. Theresa May's speech in Florence yesterday (Friday) will have calmed business nerves. They'll have a longer time to prepare for the cliff jump. Also, figures released on Thursday show that despite weakening economic growth, the UK's deficit is outperforming expectations.

If a lot of people in the markets are taking bets against an economy (aka shorting) by targeting the currency or debt, then it's in their interest if the stream of bad news about an economy continues. They'll target a weakness and try their damnedest to make the dire prediction come through so they can collect their winnings.

These people wouldn't have found some way to influence Moody's, would they? I mean, how would they do that? What with Moody's being so squeaky clean and all.?
 

Wascurito

Well-known member
Joined
Apr 18, 2017
Messages
7,298

GDPR

1
Joined
Jul 5, 2008
Messages
217,846
I said "about". It's obviously been upgraded since I last checked.

So let's rephrase, the UK which is four notches above Ireland is on the verge of default??

Where does that leave Ireland?
As with all matters economic, the position is far less important than the direction of travel.
 

sic transit

Well-known member
Joined
Jan 30, 2008
Messages
25,397
Rating agencies are part of the problem.
Not if they do their job, which they largely did until they lost the plot completely. In this case they're not saying anything surprising vis a vis the post-Brexit world for the UK.
 

Wascurito

Well-known member
Joined
Apr 18, 2017
Messages
7,298
I said "about". It's obviously been upgraded since I last checked.

So let's rephrase, the UK which is four notches above Ireland is on the verge of default??

Where does that leave Ireland?
I got two automatic messages telling me that you'd edited my post. Now you did subsequently send a message apologizing. I think it highlights the importance of moderators having separate accounts that ONLY moderate and don't take part in debates.

Just because I disagreed with you on a minor point doesn't mean that I agree with the OP. I don't think that either the UK or Ireland is anywhere near defaulting.
 

sic transit

Well-known member
Joined
Jan 30, 2008
Messages
25,397
I said "about". It's obviously been upgraded since I last checked.

So let's rephrase, the UK which is four notches above Ireland is on the verge of default??

Where does that leave Ireland?
There are a lot of other elements built into that scenario; potentially increasing debt cost, further ratings reductions, the challenge to a shrinking economy to sustain it and when that post-Brexit world will deliver a level of stability. Not a default in sight yet but a very difficult road.
 


New Threads

Most Replies

Top