Citi Blasts Moody's Optimism, Says UK AAA Rating Is Doomed

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Thu, 12/10/2009 - 12:13 | 158994 SayTabserb
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Thatcherism, Reaganomics - R.I.P.  Meanwhile, the Commies of the East continue their inexorable rise, aided by the former Titans of Industry of the West. What was that Lenin said about capitalists and rope?

Thu, 12/10/2009 - 12:15 | 158998 Arthor Bearing
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You tin foil hatters just don't understand.

 

(The more scepticism about the poor state of the world economy, the more berries and game in the woods there is for me!)

Thu, 12/10/2009 - 20:19 | 159631 Rusty Shorts
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...just hope that you don't become "game"

Thu, 12/10/2009 - 12:24 | 159008 chindit13
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In the court of public opinion, with regard to deteriorating credit quality, Citi has to qualify as an expert witness.

Let experience be your guide.

Thu, 12/10/2009 - 12:45 | 159034 deadhead
deadhead's picture

talk about the pot calling the kettle black.

this is going beyond surreal. 

 

Thu, 12/10/2009 - 12:48 | 159039 Anonymous
Anonymous's picture

So let me get this straight..

The UK may get downgraded due to their debt. Yet the US, who if we don't get a public option or single payer/non-profit health care like most every other civilized country will not do anything with 17% and ever growing part of our economy will be just fine, no neg watch or anything else.

And this is Citi saying this, who now that is is barely existing solely due to the largess of the taxpayer wants to pay us back, even though when the next shoe drops there will be nothing left but us?

And they say we're the crazy ones?

Thu, 12/10/2009 - 13:00 | 159059 bugs_
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It is the "die last" game.  Make the other guy die before you do.

Thu, 12/10/2009 - 13:10 | 159071 Ripped Chunk
Ripped Chunk's picture

The pot calls the kettle black

Thu, 12/10/2009 - 13:11 | 159072 Ripped Chunk
Ripped Chunk's picture

Sorry deadhead, you did beat me to it.

Thu, 12/10/2009 - 13:32 | 159097 Anonymous
Anonymous's picture

A serious question for the experts: There is anybody anymore that pays any attention to what Moody's, Fitch or S&P has to say?
I thought they faded into irrelevance...

Thu, 12/10/2009 - 13:44 | 159108 Terminal Frost
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Don't hold your breath waiting for Citi's comments on the soon to be increased US debt ceiling.

Thu, 12/10/2009 - 13:49 | 159116 sawyer
sawyer's picture

Classic ZH "none other than glass house inhabitant Citigroup".

I am tired of hearing the talking heads on CNBC saying how great Canada is doing. Our economy is in the toilet particularly our manufacturing base in Ontario and Quebec. Also our national debt levels are not so low as everyone believes if one's include the debts and obligations of the provinces ("medicare", retirements) we are in the same situation as anyone in the USA. Some links:

http://www.debtclock.ca/

http://www.iedm.org/main/content_en.php?content_id=27

Thu, 12/10/2009 - 14:25 | 159185 Anonymous
Anonymous's picture

Japan has a debt:GDP ratio of over 200%. They still have an AAA rating!
Also, the UK debt:GDP ratio is less at present than both Germany and the US.
I think the last sentence gives it away ("...unless we get a Conservative government with a clear majority at the next election....")
Citi are not talking finance, they are talking politics.

Thu, 12/10/2009 - 14:48 | 159233 carbonmutant
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Too Big to Fail and Too Big to Rate.

What next?

Thu, 12/10/2009 - 15:41 | 159279 Mongo
Mongo's picture

I would like to see a vote for whether the olympics will take place at all...

Thu, 12/10/2009 - 16:16 | 159332 Gimp
Gimp's picture

Propaganda machines working overtime. I doubt few ZH readers believe any of the garbage being reported by entities with incentives behind them.

And I concur, Moody's, Fitch and the S&P reports are good for one  thing only.....now flush.

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