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Thread: Economic mess - Britain loses triple AAA credit rating!

  1. #1
    Senior Member mikeydt1's Avatar
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    Post Economic mess - Britain loses triple AAA credit rating!

    When the coalition came in to power quite a few years ago one thing Osbourne promised in a pledge was to protect Britain's triple AAA credit rating.

    Last night Moody's for the first time in 30 years has stripped Britain of it's triple crown.

    Although this has happened Osbourne is still refusing to change his plans of devastating cuts which have more or less been aimed at the poor of the country and vital services.

    In the Guardian there are a number of interesting comments -

    many say he should get the economy going instead of cut cut cut.

    another said he his taking his f money and getting out of the country,

    and many are also wanting Osbourne and his merry gang to resign before it is too late!

    it is a shame that people of the country have to wait 5 years before voting a party out unlike MP'S who can hold a vote of no confidence.

    http://www.guardian.co.uk/business/2...ne-britain-aaa

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    Senior Member googlybear's Avatar
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    Another round of quantitative easing has been mooted... what are we at so far, £375,000,000,000?
    This trickle down from the top clearly hasn't worked, how about trickle up from the bottom? Instead of feeding the banks coffers, just give every man, woman and child in the country £5000, (cheaper at just £300,000,000,000) and watch the economy move as people spend it

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    We are having a trickle up from the bottom, we are paying more, we are paying for the middle class now with the bed room tax.

    Today a disabled person on TV stated it's a good idea no problem but the disabled should be removed from it, why?

    If it's good enough for the poorest in society then it's good enough for the disabled, we also seem to think for some reason because we are disabled we should be treated different, yet we battled for equality we have it now.

  4. #4
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    Quote Originally Posted by mikeydt1 View Post
    When the coalition came in to power quite a few years ago one thing Osbourne promised in a pledge was to protect Britain's triple AAA credit rating.

    Last night Moody's for the first time in 30 years has stripped Britain of it's triple crown.

    Although this has happened Osbourne is still refusing to change his plans of devastating cuts which have more or less been aimed at the poor of the country and vital services.

    In the Guardian there are a number of interesting comments -

    many say he should get the economy going instead of cut cut cut.

    another said he his taking his f money and getting out of the country,

    and many are also wanting Osbourne and his merry gang to resign before it is too late!

    it is a shame that people of the country have to wait 5 years before voting a party out unlike MP'S who can hold a vote of no confidence.

    http://www.guardian.co.uk/business/2...ne-britain-aaa



    2.5 years for the next election and then what a labour party which mostly agrees with what the Tories are doing, a party which allowed the banking crises, told us we do not like rich people.

    sadly we now have three political parties who are well off rich and have no idea of what it's like at the bottom, not forgetting during the so called good times labour brought in the welfare reforms to remove the 1.75 million cheats from benefits.

  5. #5
    Senior Member googlybear's Avatar
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    We in Scotland have a realistic alternative in the SNP, it's little surprise that they got into power, even in a system that designed so that no party would get a majority. We have twice as many panda bears as we do tory MPs.
    The sooner Westminster catches on to why that is the case, the better

  6. #6
    Senior Member Lighttouch's Avatar
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    The reason why the economy is in this mess is that we relied on the financial sector and booming house prices that made people feel rich.

    There's plenty of money out there it's just that companies are saving it instead of investing it.

    I like how the Lib/Dems have just announced that if they get back in power they'll take people out of tax at 13,000.- just before the Eastlie by-elections being held this week.

    What we're short of in this country is industry and exports. But not exporting to Europe because they are bust. We should look at emerging markets like Brazil, Africa, Mexico - that's how this country will grow.

    Right I'll get off my soap box and get some tea.

    Incidentally this country is the biggest exporter of one thing - fresh air!!!

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    The Liberals will not gain power they may gain a coalition but that's not really power your the junior mode.

    But labour tends to agree with the bed room tax, they tend to agree with welfare reforms, they tend to agree with a lot of policies

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    I find it interesting that such credit rating agencies are given so much credence. After all they missed all the banking issues, with many banks given a top rating!!

    With everything else going on in our economy I doubt this will be a major issue. In fact, with a set of very mixed economic data, nobody really knows how long this is going to take to fix.

    We hear we may enter a triple dip recession, but revised figures suggest we may not have entered a double one. Government borrowing rates improved today, even without our AAA. However, the pound is very weak. Employment is up. Govrrnment debt is increasing. The service sector is weak, but manufactoring and construction improves a little. Its all very mixed.

    I don't believe any Government can themselves improve things, but they can make it worse. Us, and those who are the employers will make difference. When people can start spending, and debt has been paid, and companies start to invest thats when things will start to improve.

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