Uk Loses It's Aaa Rating

[manxy]

(edit- title should read AAA Rating)

I thought it was coming, but to see it is another thing.

BBC Link Here

Thoughts on this and how will this affect things?

[woolley]

Make government borrowing more expensive = higher inflation.

 

Alternatively:

 

Print more money = er, higher inflation.

 

Whatever happens, money, savings etc. heading down the toilet because they have no alternative to inflating their way out of the hole they are in. Look forward to your retirement and the £500 fish supper. Couldn't happen? In the 60's it cost less than 2 bob (10p) for fish chips and peas. Now? A fiver if you are lucky. Truly frightening.

[manxy]

Will this go the same way as Greece or Ireland?

[Lxxx]

Chip, chip, chip away at your savings and the value of the pound. It's just another link in the chain of the UK's demise.

[Barrie Stevens]

Rather meaningless really. They are self-promoted. Remember it was not many years ago that such as Moody’s recommended and praised that which later became known as Sub-Prime Mortgages. They seem to have forgotten that?

 

[manxy]

Just browsing through their comments, I saw this quote

"Money going out of the country for years to set up businesses in countries where labour is cheaper. Manufacturing in this country dying as a result. People losing their jobs. Goods being imported from the countries where the capital went. British people being told they are scroungers, when they used to be the factory of the world, supplying goods to everyone. Governed by shameless hypocrites."

 

It sort of brings things to the front that businesses will go anywhere for the cheapness of labour and therefore reap the profits once sold on elsewhere.

This IMO, is where fair trade should be operated throughout the world and instead of people working for low pay, there should be fairness across the board, which might mean that workers from other countries, don't have to emigrate to the UK/elsewhere to make ends meet.

 

Example - Georgian private sector workers earn approx 20 Lari a month (just under £8)

[woolley]

Just browsing through their comments, I saw this quote

"Money going out of the country for years to set up businesses in countries where labour is cheaper. Manufacturing in this country dying as a result. People losing their jobs. Goods being imported from the countries where the capital went. British people being told they are scroungers, when they used to be the factory of the world, supplying goods to everyone. Governed by shameless hypocrites."

 

It sort of brings things to the front that businesses will go anywhere for the cheapness of labour and therefore reap the profits once sold on elsewhere.

This IMO, is where fair trade should be operated throughout the world and instead of people working for low pay, there should be fairness across the board, which might mean that workers from other countries, don't have to emigrate to the UK/elsewhere to make ends meet.

 

Example - Georgian private sector workers earn approx 20 Lari a month (just under £8)

 

But that would be an end to cheap products and a lowering of our standard of living. I am not saying that would be wrong, but would you be prepared to see your disposable income stretch to only half of the things it does now?

[Cambon]

But that would be an end to cheap products and a lowering of our standard of living. I am not saying that would be wrong, but would you be prepared to see your disposable income stretch to only half of the things it does now?

If it meant having only half the products, but being high quality products then yes. Otherwise it is pointless.

[Grianane]

it means the IOM's rating will go down one spot as well.....that'll put the cost of Government borrowing up again

[Lxxx]

But that would be an end to cheap products and a lowering of our standard of living. I am not saying that would be wrong, but would you be prepared to see your disposable income stretch to only half of the things it does now?

If it meant having only half the products, but being high quality products then yes. Otherwise it is pointless.

 

Each and every one of us can make a small (some might say futile) difference in a way by shopping and buying local, otherwise nothing will change.

[woody2]

it means the IOM's rating will go down one spot as well.....that'll put the cost of Government borrowing up again

 

IOM was downgraded last year according to the beeb?

[Tweek]

I just saw my overdraft. It's got an Aaaaaaaaaaaaaaaaaaaaaaaaagh rating.

[MikeW]

Make government borrowing more expensive = higher inflation.

 

Alternatively:

 

Print more money = er, higher inflation.

 

Whatever happens, money, savings etc. heading down the toilet because they have no alternative to inflating their way out of the hole they are in. Look forward to your retirement and the £500 fish supper. Couldn't happen? In the 60's it cost less than 2 bob (10p) for fish chips and peas. Now? A fiver if you are lucky. Truly frightening.

 

To be fair, that's 50x over 50 years.

 

At the same rate, that would be about £250 for fish 'n chips in 2063. Give or take some mushy peas.