S&P Cuts UK Outlook To Negative

Tyler Durden's picture

The drainage of AAA quality collateral contonues as S&P cuts it outlook on the United Kingdom to negative...


more as we get it...

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max2205's picture

Didn't even wait till friday after the close....what's up with that!

TruthInSunshine's picture

Cue up TIMMMMMMAY!!! Hurry!

We need a "there's no chance the U.S. will be downgraded [again]...absolutely zero chance..." again...

The trend is your friend's picture

this could only mean one thing, moar QE from them = higher stock prices....STFU and BTFD.


Lost Wages's picture

Step by step, Wall Street and Germany are tag teaming the UK into oblivion.

Ghordius's picture

+1 for the strangest comment of the day, so far. you are not alone, two weeks ago someone was claiming that the EU is all about enslaving the English race

you do know what unique role banks in the City play in all this mess, don't you?

you do know what the Bank of England is doing, lately, don't you?

TruthInSunshine's picture


Germany has...like actual companies that produce...like actual products, dude. They even export them, and they don't contain wiring that will burn down your garage/house/office.

The UK is home to the original collection of Vampire Squid Parasitic Drain Banks/Financial Firms, mostly headquartered in London, and all part of the fractional full fiat reserve scam (we conjure fiat from thin air, capture representatives of "sovereign" people, then loan that fiat to their government) that not only don't produce wealth, but destroy it forever, after picking off some lusty "bonuses" to keep amongst them and theirs.

Poof! It's gone!

trollin4sukrz's picture

It really is too bad Germany didnt do a better job in WWII.. There would be a hellova lot less banking problems today if they could have destroyed London completely and totally. But now we are all being fed upon by the parasites. Where is Hitler when you need him?

TruthInSunshine's picture

Hitler! Nazis! Hogan's Heroes! Hitler! Nazis!!!  Hitler!!!!


(I'm playing up that card for you.)

Wile-E-Coyote's picture

Ummmm wasn't it Reagan and Thatcher in the Eighties that started deregulation, if you are going to bomb London carrying on flying onto New York.

TruthInSunshine's picture

I've maintained all along that New York City (the place and institutions it contains) is the sister-parasite city to London, and for all the very same reasons.

Parasitic, massive drag on the rest of the country, with wealthy destroying enterprises and scheming that depends on the taxpayer host's mammary gland for constant feeding.

Ghordius's picture

yeah, but OUR Parasite City has the Royals. and the Westminster parliament. and history and culture and plenty of euroskeptics and bedbugs and eurotrashers and Greek, Russian, Arab and Chinese tax-haven oligarchs and cameras, cameras, cameras.... oh, my, soooo many cameras...

Meanwhile YOUR Parasite City has only a cute French bronze holding a candle or so and our gold. Ha!





care to swap?

TruthInSunshine's picture

I think the only redeeming thing about New York City is the Pizza.

I couldn't stomach a Royal Family, Queen or Monarchy, even if symbolic; that would definitely put me over the edge.

akak's picture

You've got to be fucking kidding.

"New York pizza" is an oxymoron --- that paper-thin crap is unworthy of the name. 

Chicago deepdish is the sine qua non of real pizza.

falak pema's picture

lol, this is worthy of the great salami battle between Bologna and Florence.

The Best Salami in the Country - Forbes

Popo's picture

The fact that the UK has a massive hand in the current crisis isn't the point.   The point is that this will (and must) eventually turn into an "every nation for himself" situation.    Until now there has been massive collusion between the central banks because they believe that a unified front can insure stability.  This is untrue.  The problem is that stability is a phantasm.  It's not going to be achieved over the long term because it is only being achieved thus far via unsustainable means.   So as it becomes increasingly clear that stability cannot be maintained, it will also become clear that coordinated action cannot be maintained.

Who will be the losers in that next chapter?   Easy answer:  Japan and England.   They are the weakest players at the table, and they will be thrown under the bus.

HoaX's picture

every nation for himself


Very true Popo, but in this case it is only coming from the UK itself, with their great hero Nigel Farage and constanst frustrating of any European financial sector reforms.

Many still want them to be European partners and they could have easily been as influential as Germany, France or Italy if they had been a bit more constructive in this sense.


falak pema's picture

"When thieves fall out..." has been a continuous emphasis of some on this ZH site. 

The current Uk conundrum is epitomised by two tendencies: Boris of London and Nigel of Porridge.

Boris of London is the perennial shill who touts the essence of Maggie's oligarchy farm : Oligarchs of the world unite in London town, the greatest white washing machine in the world, thanks to Euro-dollar become petro-dollar legacy post 1971-1973 BW revoke and Dear Henry's Oil guaranty "poke" in ME super-shuttle sick joke.

So Maggie inherited that and made London the crown jewel of Oligarchy world, both Oil-arab and Gas-Russian post Elstine.

But...that has the inconvenience of making the Brits the worst whores of the western world; whence Nigel of Porridge and "we're british" meme; all the while sucking the teat of Murdoch's empire (the man has to live).

Now UK economy is doing the great splits, as neither will make it Nirvana UK of Elizabethan/Victorian shangri-la.

Rough ride ahead...if the EURO zone pulls the plug on City free for all...Yikes! 

And...WS now has to fend for itself..."Sorry UK, special relationship is an expensive business, we can't keep bailing you out"; unless we have a WW3!

In which case we'll call you...don't call us! 

No Euros please we're British's picture

Hey, isn't that what women have when they're faking it? A phantasm?

Tsar Pointless's picture

Well, they operate by the old adage, "If at first you don't succeed, try, try again".

World War I didn't work. Neither did World War II.

If this is the third time, I suppose we should be prepared to be charmed.

The trend is your friend's picture

leave them alone already, have you seen the brit's skin and teeth? that should be punishment enough

maff's picture

The man who can dominate a London dinner-table can dominate the world (Oscar Wilde). Still true today.

camaro68ss's picture

Thats BS, cut that S*** to the triple hook CCC bitchez

SheepDog-One's picture

So when is S&P going to cast it's critical gaze over the totaly bankrupt worse-every-day US and downgrade it?

JustObserving's picture

When will they learn not to mess with the Anglo-American banking empire?  The last time S&P downgraded the US, the CEO, Deven Sharma, lost his job in just a few days.

Gadhafi lost his head when he tried to introduce the gold dinar for Africa.

SheepDog-One's picture

No worries I guess as all that really matters now is Pelosi spoke and cashed in her puts, Boner going to speak and probably cash out his calls.

Catullus's picture

Apparently if you don't target unemployment, then no one's going to know you're serious about it. They should take a "radical change" and focus on an unrelated statistic to determine when they should discontinue money printing.

resurger's picture

Am really Shocked!!!!!!!!!!!!! really

youngman's picture

Losing another AAA rated country...and gold and silver going down......lol...

ThirdWorldDude's picture

Blame it on deflation...      /sarc

buzzsaw99's picture

what about moody's? (they have the best reputation ;)

ShorTed's picture

I'd like to +50 you for the sarc...well done.

Id fight Gandhi's picture

Surprised? no. Expected? Yes. Will it change anything? Nope.

Flakmeister's picture

Re: Neg. watch, About bloody time....

The problem with Thatcherism is that you eventually run out of North Sea oil...

tm Flakmeister 2009

Bam_Man's picture

They (the Bank of England) are obviously not printing fast enough.

jubber's picture

I say that's a pretty bad show ole boy.

Randall Cabot's picture

A bloody bad show ole chap!

Mercury's picture

Maybe the Fed's next new mandate will be to get first world sovereign credits back up to AAA.

Once you convince yourself that money printing begets wealth there really aren't many constraints to how/where that kind policy tool can be applied.

Glass Seagull's picture


AAA is soooo 2011

spinone's picture

Good for Treasuries

Cassandra Syndrome's picture

Is triple A cardinal or ordinal? In other words are they just benchmarked against how relatively woeful the nations of the world are? If everyone eventual loses Triple A, by what means is Triple A rated? Does a new batch of Triple A nations emerged on weaker fundamentals than 5 years ago?

Heweliusz's picture

Everything is France's fault anyway!

max2205's picture

There a mic on the S&P bus...watch it boyzzz. there big janet with a strap on waiting for you in your max prison cell

firstdivision's picture

Pretty sure it doesn't matter much anymore since the various CB's of the world quite caring about what rating agencies say.

NEOSERF's picture

Rating agencies don't seem to understand if there are no more AAA countries, then AA will suffice as top paper and all the Policies will simply be revised to allow the same amount of investment it.  Chicken Little Politics...