BoE's King-ratings agencies not about to re-rate UK

Mr.Brown_4

Actually Hamish you have let yourself down slightly because it is raining at the moment.

HAMISH_MCTAVISH

Graham_Devon wrote: »

Surely I don't really need too?

I don't know.

Do you really need to?

Imminent = Likely the occur at any moment
Ok for now = We are ok at the moment, but cannot guarentee the near future.

If no ratings downgrade is imminent, that means it will not be happening now or in the near future.

If a ratings downgrade will not be happening for now, the common usage means it will not happen now or in the near future.

For all intents and purposes, they mean the same thing.

Graham_Devon

You don't half reply with some cack sometimes hamish.

HAMISH_MCTAVISH

Mr.Brown wrote: »

Actually Hamish you have let yourself down slightly because it is raining at the moment.

Snowing here.

Not that the type of precipitation makes a difference to Graham's illiteracy.

baileysbattlebus

Wookster wrote: »

Hmmmm but then again Mervyn didn't see the slightest hint of the credit crunch.

Surely he's not the oracle he might profess to be when it comes to predicting seismic events.

The ratings agencies weren't exactly oracles either if I remember rightly -

Wookster

HAMISH_MCTAVISH wrote: »

:rotfl::rotfl::rotfl::rotfl:

Mastery of the English language is not your strong point, is it Graham?

How ironic.

Mastery of logic isn't one of your strong points is it?

Generali

HAMISH_MCTAVISH wrote: »

There is no imminent threat of a downgrade.

I agree, my brain skipped the word 'about' in the OP's title.

I think there is a very real risk of a downgrade unless the party(s) that form(s) the next Government take genuine and urgent steps to plan at the very least to cut the nominal increase in debt in the medium term.

All this stuff about cutting the deficit in half in the next 4(?) years just relies on a bounce in growth this year (restocking) and then normal growth bringing tax receipts back into line with where they were a couple of years back. The problems with that are two fold:

- Very high levels of Government borrowing will 'crowd out' private investment and prevent normal growrth resuming. The investment comes first, the growth follows as a result (restocking counts as investment in public accounting).
- The nub of the problem remains unaddressed: half the deficit is caused by the Government overspending (the 'structural deficit'). I am pretty sure you agree Mr M that this needs to be addressed as if allowed to continue, the rising level of Government debt will swamp the private sector in the end.

StevieJ

lemonjelly wrote: »

Yep. They're the things the french (our euro "allies") were caught red handed selling to the argies in 1982!

As long as they are not selling Nuclear weapons to the Persians :eek: