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UK slipping down the pecking order?

StevieJ
StevieJ Posts: 20,174 Forumite
Part of the Furniture 10,000 Posts Combo Breaker
in Debate House Prices & the Economy
Just to show I can be a doomer as well :eek:

Credit Crisis Fallout
  • Great Britain may face "lasting impairment" from the credit crisis owing to the over-sized role of the City and high levels of private debt, endangering its elite "AAA" credit rating for the first time in history. The US agency Moody's said the UK had slipped from the top rank of "resistant" AAA states, which include Germany, France, Canada, and the Scandinavian countries. Great British debt is likely to be "tested" over coming years.
  • The European Commission has issued a red alert over the unprecedented collapse of industrial production, warning that EU states are running out of money for rescue packages.
Just to put it in perspective it is only one of the rating agencies saying it, you know the ones that don't understand the AAA CDO's :D
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
«1

Comments

  • Cannon_Fodder
    Cannon_Fodder Posts: 3,980 Forumite
    Welcome to the dark side, Luke.


    edit; in best Darth Vader voice...
  • RHYSDAD
    RHYSDAD Posts: 2,346 Forumite
    StevieJ wrote: »
    Just to show I can be a doomer as well :eek:

    You just told me not to worry!! and now this? Are you just winding me up????
    "Do not use a hatchet to remove a fly from your friend's forehead."

    Chinese Proverb


  • itsallagame_2
    itsallagame_2 Posts: 136 Forumite
    That’s some serious DOOM you found ! :D
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    itsallagame wrote: »
    That’s some serious DOOM you found ! :D

    I know, the Duke if Wellington will be spinning in his grave, below France I ask you :eek:
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Dithering_Dad
    Dithering_Dad Posts: 4,554 Forumite
    Mortgage-free Glee!
    Ah, but aren't we the most endebted, developed nation in the world?

    Yay! We're still #1 in something!! Go Britain!!!
    Mortgage Free in 3 Years (Apr 2007 / Currently / Δ Difference)
    [strike]● Interest Only Pt: £36,924.12 / £ - - - - 1.00 / Δ £36,923.12[/strike] - Paid off! Yay!! :)
    ● Home Extension: £48,468.07 / £44,435.42 / Δ £4032.65
    ● Repayment Part: £64,331.11 / £59,877.15 / Δ £4453.96
    Total Mortgage Debt: £149,723.30 / £104,313.57 / Δ £45,409.73
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    Dithering_Dad wrote: »
    Ah, but aren't we the most endebted, developed nation in the world?

    Yay! We're still #1 in something!! Go Britain!!!

    And second in the teenage pregnancy league. Get in, Silver Medal.:T
  • Dithering_Dad
    Dithering_Dad Posts: 4,554 Forumite
    Mortgage-free Glee!
    Really2 wrote: »
    And second in the teenage pregnancy league. Get in, Silver Medal.:T

    Second to who? I thought we were way ahead of the competition in that one? :mad:
    Mortgage Free in 3 Years (Apr 2007 / Currently / Δ Difference)
    [strike]● Interest Only Pt: £36,924.12 / £ - - - - 1.00 / Δ £36,923.12[/strike] - Paid off! Yay!! :)
    ● Home Extension: £48,468.07 / £44,435.42 / Δ £4032.65
    ● Repayment Part: £64,331.11 / £59,877.15 / Δ £4453.96
    Total Mortgage Debt: £149,723.30 / £104,313.57 / Δ £45,409.73
  • lukekelly_2
    lukekelly_2 Posts: 160 Forumite
    Ah, but aren't we the most endebted, developed nation in the world?
    Be thankful that we're not Italy or Greece...
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Dithering_Dad wrote: »
    Second to who? I thought we were way ahead of the competition in that one? :mad:

    It has got to be the Emerald Isle :D
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Count_Dante
    Count_Dante Posts: 505 Forumite
    It's funny how the apparent wealth of nations changes over time. A few years ago, Ireland was an amazing place, filled with rich leprechauns with overflowing crocks of gold. Now it is almost beggered.

    Just goes to show that you need to measure the success or failure of a policy over time, not just over a few months or years.
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