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UK downgraded.

Standard and Poors have just revised their outlook rating of the UK. The UK is now had its outlook revised from stable to negative:
"-- The 'AAA' long-term and 'A-1+' short-term sovereign credit ratings were 
-- The outlook revision is based on our view that, even factoring in further 
fiscal tightening, the U.K.'s net general government debt burden may approach 
100% of GDP and remain near that level in the medium term.
Expect this to be glossed over by the one eyed snot gobbler. If pressed he will issue some of the following "wankword bingo" phrases. Which I first covered here...

2 people have spoken:

Lenin's mate said...

Standard and Poors, the enablers of the whole fucking mess!

They helped build this shit in the first place with their frankly meaningless ratings and now they're going around fucking it up even further. They're just another discredited part of the same bullshit system. What makes them worse than some is that they just sit on the sidelines egging it all on, like some loudmouth skank egging on two fighting frunks outside a nasty rat-hole boozer.

Fidothedog said...

A good analysis of the fiscal shit storm.