Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    But i thought all you libs wanna to emulate the european model???Jeez what a 180 this is.

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    In response to airborne-rgr's comment:

    In response to xXR3S1NXx's comment:

     

    But i thought all you libs wanna to emulate the european model???Jeez what a 180 this is.

     




     

    Well there's your problem in a nutshell.

    You project what you want other people to think so as to set up a strawman argument which has no basis in reality.

    The sooner you get a grip on reality, the easier it is to form cogent arguments.


    Grip on reality? So.. Me reading about the libs on this forum gushing over how great the european model is, Isnt reality???

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    In response to airborne-rgr's comment:

    This is the same fiscal plan that the wingnuts are pushing for here in the US despite the numerous real-world examples of the folly of such a program.

    The EU, as a whole, is now in a double-dip recession thanks to the austerity measures imposed on these countries. The driving force behind these measures is based wholly on ideology and it ignores basic economic fundamentals. The results are disasterous.

    Italy has slid further into recession - its steepest economic contraction for three years - after the conservative Berlusconi government adopted an austerity package in July 2011.

    Ireland enacted the toughest budget in the nation's history included a pledge to trim the deficit by 6bn euros in 2011. The result; It's economy shrank by almost 2% in the third quarter of 2011, compared with growth of 1.4% in the previous quarter.

    Portugal A new centre-right coalition government took office with a big enough majority to pass the austerity measures. The new government adopted a range of austerity measures, including a 5% pay cut for top earners in the public sector, a VAT rise of 1% and income tax hikes for high-earners. The military budget is being slashed and two high-speed rail projects have been postponed. Unemployment rose to 14.8% in January 2012 and it's economy shrank by 3% in the last quarter of 2012.

    Spain The new conservative government of Prime Minister Mariano Rajoy cut 27bn euros from the state budget this year - one of the toughest austerity drives in modern Spain's history. Unemployment in Spain has soared to nearly 25% - the highest rate in the EU - and for young people under 25 the rate is above 50% and it's economy contracted at a rate of -2.7%.

    UK At the start of its term in 2010, the Conservative-Liberal Democrat coalition government announced the biggest cuts in state spending since World War II. Britain’s Office for National Statistics confirmed that in the first quarter of this year Britain’s economy shrank .2 percent, after having contracted .3 percent in the fourth quarter of 2011. (Officially, two quarters of shrinkage equal a recession.).

     

    Spain officially fell into recession for the second time in three years. Portugal, Italy and Greece are already in recession, and France and Germany are also contracting.

     

    http://www.voxeu.org/article/panic-driven-austerity-eurozone-and-its-implications



    In case you missed it............America`s credit rating was already downgraded TWICE under this incompetent fool`s reign of terror. First time in the history of this country.  You folks that voted for him (twice) should be proud. And.......we just had the first quarter (Q4/2012) of negative GDP since 2008.  We are in a recession.  That`s the funny thing, you don`t know you`re in one until you see consecutive quarters of negative GDP and by then, it`s too late. 

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    In response to airborne-rgr's comment:

    In response to xXR3S1NXx's comment:

     

    But i thought all you libs wanna to emulate the european model???Jeez what a 180 this is.

     




     

    Well there's your problem in a nutshell.

    You project what you want other people to think so as to set up a strawman argument which has no basis in reality.

    The sooner you get a grip on reality, the easier it is to form cogent arguments.

    Britian ois on an austerity program?  that' new to the brits, and Moddy's:


    "Moody's dealt Britain its first sovereign rating downgrade on Friday, saying the $2.5 trillion economy faced years more sluggish growth and debt would continue to rise until 2016."

     

    Is it an "austerity" program when your debt continues to rise and your economy is flat?  Sound like Britian is majoring in Obamanomics.

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    The socialists in Europe are, in the famous words of Thatcher, 'running out of other people's money'..

    Their economies have been heading to the the dumpster for a decade....to claim it is because of , LOL "austerity",  is in the famous words of airborne, an alternate reality.

    The Left worships the State as a Deity, it must be continuously grown, fed and coddled...

     

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    In response to airborne-rgr's comment:

    In response to tacobreath's comment:

     

     

    In response to airborne-rgr's comment:

     

    This is the same fiscal plan that the wingnuts are pushing for here in the US despite the numerous real-world examples of the folly of such a program.

    The EU, as a whole, is now in a double-dip recession thanks to the austerity measures imposed on these countries. The driving force behind these measures is based wholly on ideology and it ignores basic economic fundamentals. The results are disasterous.

    Italy has slid further into recession - its steepest economic contraction for three years - after the conservative Berlusconi government adopted an austerity package in July 2011.

    Ireland enacted the toughest budget in the nation's history included a pledge to trim the deficit by 6bn euros in 2011. The result; It's economy shrank by almost 2% in the third quarter of 2011, compared with growth of 1.4% in the previous quarter.

    Portugal A new centre-right coalition government took office with a big enough majority to pass the austerity measures. The new government adopted a range of austerity measures, including a 5% pay cut for top earners in the public sector, a VAT rise of 1% and income tax hikes for high-earners. The military budget is being slashed and two high-speed rail projects have been postponed. Unemployment rose to 14.8% in January 2012 and it's economy shrank by 3% in the last quarter of 2012.

    Spain The new conservative government of Prime Minister Mariano Rajoy cut 27bn euros from the state budget this year - one of the toughest austerity drives in modern Spain's history. Unemployment in Spain has soared to nearly 25% - the highest rate in the EU - and for young people under 25 the rate is above 50% and it's economy contracted at a rate of -2.7%.

    UK At the start of its term in 2010, the Conservative-Liberal Democrat coalition government announced the biggest cuts in state spending since World War II. Britain’s Office for National Statistics confirmed that in the first quarter of this year Britain’s economy shrank .2 percent, after having contracted .3 percent in the fourth quarter of 2011. (Officially, two quarters of shrinkage equal a recession.).

     

    Spain officially fell into recession for the second time in three years. Portugal, Italy and Greece are already in recession, and France and Germany are also contracting.

     

    http://www.voxeu.org/article/panic-driven-austerity-eurozone-and-its-implications

     



    In case you missed it............America`s credit rating was already downgraded TWICE under this incompetent fool`s reign of terror. First time in the history of this country.  You folks that voted for him (twice) should be proud. And.......we just had the first quarter (Q4/2012) of negative GDP since 2008.  We are in a recession.  That`s the funny thing, you don`t know you`re in one until you see consecutive quarters of negative GDP and by then, it`s too late. 

     

     

     




     

    Heh, heh, heh... funny how you ignore the fact that S&P put the blame squarely on wingnut intransigence.

    We have changed our assumption on this (fiscal consolidation) because the majority
    of Republicans in Congress continue to resist any measure that would raise
    revenues.

    But hey, why should the facts get in the way of ideology....



    "because the majority 

    of Republicans in Congress"

     

    LOL!  You must mean that ever so slight majority in the HOUSE ONLY?

    Yes........it`s those "Fo wever Wascully Wepubwicans" causing all the Incompetent`s problems.

     

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    In response to airborne-rgr's comment:

    In response to tacobreath's comment:

     

    In response to airborne-rgr's comment:

     

    In response to tacobreath's comment:

     

     

    In response to airborne-rgr's comment:

     

    This is the same fiscal plan that the wingnuts are pushing for here in the US despite the numerous real-world examples of the folly of such a program.

    The EU, as a whole, is now in a double-dip recession thanks to the austerity measures imposed on these countries. The driving force behind these measures is based wholly on ideology and it ignores basic economic fundamentals. The results are disasterous.

    Italy has slid further into recession - its steepest economic contraction for three years - after the conservative Berlusconi government adopted an austerity package in July 2011.

    Ireland enacted the toughest budget in the nation's history included a pledge to trim the deficit by 6bn euros in 2011. The result; It's economy shrank by almost 2% in the third quarter of 2011, compared with growth of 1.4% in the previous quarter.

    Portugal A new centre-right coalition government took office with a big enough majority to pass the austerity measures. The new government adopted a range of austerity measures, including a 5% pay cut for top earners in the public sector, a VAT rise of 1% and income tax hikes for high-earners. The military budget is being slashed and two high-speed rail projects have been postponed. Unemployment rose to 14.8% in January 2012 and it's economy shrank by 3% in the last quarter of 2012.

    Spain The new conservative government of Prime Minister Mariano Rajoy cut 27bn euros from the state budget this year - one of the toughest austerity drives in modern Spain's history. Unemployment in Spain has soared to nearly 25% - the highest rate in the EU - and for young people under 25 the rate is above 50% and it's economy contracted at a rate of -2.7%.

    UK At the start of its term in 2010, the Conservative-Liberal Democrat coalition government announced the biggest cuts in state spending since World War II. Britain’s Office for National Statistics confirmed that in the first quarter of this year Britain’s economy shrank .2 percent, after having contracted .3 percent in the fourth quarter of 2011. (Officially, two quarters of shrinkage equal a recession.).

     

    Spain officially fell into recession for the second time in three years. Portugal, Italy and Greece are already in recession, and France and Germany are also contracting.

     

    http://www.voxeu.org/article/panic-driven-austerity-eurozone-and-its-implications

     



    In case you missed it............America`s credit rating was already downgraded TWICE under this incompetent fool`s reign of terror. First time in the history of this country.  You folks that voted for him (twice) should be proud. And.......we just had the first quarter (Q4/2012) of negative GDP since 2008.  We are in a recession.  That`s the funny thing, you don`t know you`re in one until you see consecutive quarters of negative GDP and by then, it`s too late. 

     

     

     




     

    Heh, heh, heh... funny how you ignore the fact that S&P put the blame squarely on wingnut intransigence.

    We have changed our assumption on this (fiscal consolidation) because the majority
    of Republicans in Congress continue to resist any measure that would raise
    revenues.

    But hey, why should the facts get in the way of ideology....

     



    "because the majority 

     

    of Republicans in Congress"

     

    LOL!  You must mean that ever so slight majority in the HOUSE ONLY?

    Yes........it`s those "Fo wever Wascully Wepubwicans" causing all the Incompetent`s problems.

     

     




     

    Hey spanky, you're the one who brought up the S&P credit rating.

    I'm just pointing out the FACT that in their downgrade, the only political party S&P singled out in their decision was the wingnuts and specifically their intransigence to raise revenue.

    Sorry if the reality just jibe with your ideology. You'll have to bring it up with S&P and ask them why they put so much blame on the wingnuts.



    Oh Really?

    You may want to read and learn:

    S&P rationale for the downgrade

    On August 5, 2011, representatives from S&P announced the company's decision to give a first-ever downgrade to U.S. sovereign debt, lowering the rating one notch to "AA+", with a negative outlook.[13][14]

    [edit] Governance and policy-making stability

    S&P was direct in its criticism of the governance and policy-making process, which took the U.S. to the brink of default as part of the 2011 U.S. debt-ceiling crisis that same week:

    • "More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011. Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon."[14]
    • "The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year's wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability."[14]
     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    European countries did not adopt austerity because they wanted it . They did so because they were broke.

    The hope is that if we can show some responsibility now we can avoid that and not collapse in the future.

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    MoneyWeek UK:

    "The truth is that far from being slashed, public expenditures in the UK “have hardly been reduced at all”. The official numbers show that real spending in 2011-12 was just 1.1% (£8bn) less than that in 2009-10. It was also £23bn or 3.4% higher than spending in Labour’s last year of office (2008-9). Savage cuts? Hardly. Indeed, as Dr Tim Morgan notes “portraying his miniscule amount of spending restraint as anything other than marginal is mendacious in the extreme”.
     
    Worse, while the deficit (the amount we add to the national debt every year) has been reduced in the last year (from £161bn to £123bn) it is still higher than it was in 2008-9 (£100bn).

    And as for the £38bn bit of the deficit that has been cut, it hasn’t been cut via spending cuts. No, it has been cut via tax rises. On constant values (2010-11) taxes have risen by £30bn since 2009-10. That is 75% of the entire increase in GDP we have seen over the period (£40bn).

    You might think that we live under a responsible government working day and night to cut spending, and rein in the explosion in the debt burden. What has actually happened is that the government has “mopped up most of the skimpy recovery in GDP for its own use”, has made very little in the way of spending cuts and along the way has added over £200bn to the national debt.
     
    All this, no doubt, makes sense from Number 10 and 11. After all, if we want to keep the bond market from pushing up interest rates (which would be a disaster), we need to keep up the cuts spin.

    And of course, actually doing any real cutting is politically all but impossible. But can the government keep the big lie going? Morgan thinks not. He reckons that the bond markets, “sooner rather than later” will call the UK authorities to account. I am sure he is right that our day of reckoning will come. But I also suspect it will take longer than he thinks."

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    "Huh?

     

    That just makes no sense.

    Why would anyone in their right mind adopt a policy that pushed their economies into another recession when that is supposedly what the policy was supposed to avoid?

    They adopted it because of a prevailing ideology that has been proven to be wrong."

     

     

     

     

    AHhhhhhhhhhhhhhhhhhhhh!!!!!!!    

    LOOK AT THIS STATEMENT!!!!   LOOK AT WHAT YOU JUST SAID!!

     

    DOES IT SOUND (AND LOOK AND FEEL) FAMILIAR?

    DO YOU EVEN LOOK AT WHAT`S HAPPENING IN THE INCOMPETENT`S ADMINISTRATION (AND WITH THE DEMOCRATS) TODAY?  THIS IS EXACTLY WHAT OBAMA HAS DONE!  "adopted policies pushing our  economy into another recession"

     

    GEEEEESH!

     

     

     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    http://www.youtube.com/embed/xEYFFiEnUjQ



    This would be funny...if not so true.
     
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    Re: Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating.

    In response to airborne-rgr's comment:

    In response to tacobreath's comment:

     

    "Huh?

     

    That just makes no sense.

    Why would anyone in their right mind adopt a policy that pushed their economies into another recession when that is supposedly what the policy was supposed to avoid?

    They adopted it because of a prevailing ideology that has been proven to be wrong."

     

     

     

     

    AHhhhhhhhhhhhhhhhhhhhh!!!!!!!    

    LOOK AT THIS STATEMENT!!!!   LOOK AT WHAT YOU JUST SAID!!

     

    DOES IT SOUND (AND LOOK AND FEEL) FAMILIAR?

    DO YOU EVEN LOOK AT WHAT`S HAPPENING IN THE INCOMPETENT`S ADMINISTRATION (AND WITH THE DEMOCRATS) TODAY?  THIS IS EXACTLY WHAT OBAMA HAS DONE!  "adopted policies pushing our  economy into another recession"

     

    GEEEEESH!

     

     

     




     

    Your ideological ignorance aside, the only reason we got out of the last wingnut-led recession, the worst recession since the Depression, and have stayed out of a recession is because of the policies Obama has implemeted.

     

    Ya know, just because you keep screaming 'recession' like a spoiled brat doesn't make it so.



    Hey Dummy!   Q4/2012.......negative GDP

                           Q1/2013........(soon to be) negative GDP

    We`re in a recesion.  You`re head is up your a55!   Big surprise!

    Obama is a moron (like you)

     

     

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