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Cheers - AE

Wednesday, 17 March 2010

Moodys' mistake.

From here (my emphasis):
The world's five biggest AAA-rated states are all at risk of soaring debt costs and will have to implement austerity plans that threaten "social cohnesion", according to a report on sovereign debt by Moody's.
Moody's said the saving grace for both Britain and the UK is a good a track record of belt-tightening when necessary, and a tax and spending structure that makes it easier to whittle away the debt once recovery starts. Concerns about a hung Parliament in Britain appear overblown given the broad political consensus on the need for austerity.
What fucking track record? DING hasn't got a track record on anything since he's only been in opposition. Colostomy Brown's track record is largely one of spunking away epic amounts of money at breath taking speed. The UK may have been good at belt tightening in the past but surely if nearly every financial product advertised comes with a caveat along the lines of 'past performance is not a guarantee of future results' the same should apply to financial management by governments, doubly so when the future results will be either an unknown who appears to lack the balls to turn off the taps or the profligate fuckknuckles who wrenched them open in the first place.
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