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Egan-Jones Downgrades UK From AA- To A+
Thought you could shut up Egan-Jones? Sure, you could... as a NRSRO: the same worthless designation that is carried by Moodys and S&P. However, that does not prevent them to act, and provide their ratings opinion, as a non-NRSRO. Which is exactly in what capacity the infamous firm, which was targeted by the SEC for daring to downgrade the US (the same reason S&P was sued by the DOJ later), just downgraded the UK from AA- to A+.
DOWNGRADING United Kingdom FROM AA- to A+ (S&P: AAA)
THIS IS A NON-NRSRO RATING.
Synopsis: Re. the balance of payments, imports have exceeded exports by an average of 500B pounds annually over the past several years. The major problems for the UK is that Europe's banking crisis does not appear to be abating as evidenced by the problems of the Cypriot banks. On the fiscal side, the deficit to GDP has declined over the past three years from 11.5% to 8.3%, which is a respectable decline, but is still substantial; the bulk of the deficit reduction was the result of increased taxes. The over-riding concern is whether the country will be able to continue to cut its deficit in the face of weaker economic conditions and a possible deterioration in the country's financial sector. Unfortunately, we expect that the UK's debt/GDP will rise and the country will remain pressed (we are waiting for addl 2012 data). We are downgrading.
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Egan-Jones keeps its pimp hand strong.
A+? That sounds great! It like Trojan making the smallest condom available an XXL.
Super-BULLISH!!!
I didnt think it was possible to like a ratings agency but I do.
and of course there is less than 15 minutes to go in the regular session
Just break some windows, should help them get back to AAA
It's all part of the currency devaluation plan.
Don't be fooled. What you are likely to see is a round-robin of strategically coordinated downgrades going forward.
A+nd it's gone ...
No SHIT....maybe make them C+ and I'll pay attention.....other wise they can STFU
"A+? That's a big fuckin' deal!"
Never forget these guys are grading countries on the curve; polish these fiat turds all you want, and they will never glitter.
A piece of shit country in the middle of a depression and they give them a A+?!
Is C+ when thcannibalisml starts?
Should be DD like all the Goldman female hookers. The male hookers are not rated
Bunch of Party Poopers over at EJ's.
Tell Egan to put these headlines out after 4pm because every friggin headline released during market hours only spikes the markets higher, whether it is good or bad.
If (TimeOfDay(News.object) < 1600) then
Do While (1=1)
BUY, BUY, BUY;
You forgot the correlary code:
If(TimeOfDay(assistant.Action) < 1600 and Action(assistant.Action) = "SELL" then
Do While (1=1)
KickTheirAss;
FireTheirAss;
BUY;
Say WTF Again,
You need to use brackets for multi-stepped conditional expressions.
If(TimeOfDay(assistant.Action) < 1600 and Action(assistant.Action) = "SELL" then
Do While (1=1)
Begin
KickTheirAss;
FireTheirAss;
BUY;
End (of the world);
NERDS!!!!!!!!!!!!!
The last I saw of Sean Egan he was flailing and desperately explaining the many circumstances which could cause them to upgrade the US rating.
Did any of them NOT involve violence? (well, except for the obvious unicorn scenarios)
Sad that they can only do this in incriments. Some countries need to be taken down to B+ or even C by tomorrow. The current scheme of fudging bank ledgers, insurance risks, and ratings is what got us into this mess. Those complicit need to be hung.
Make that invaded and i am with you
Will the French loan out the guillotine? It might be faster.
The French might even have a couple of those pre-loved in some museum or other that they would be willing to part with. All for a good cause.
\EJ/
That country is under banker occupation and therefore the rating has no basis.
Rating is an opinion. How can you prosecute?
That is insane.
They prosecute truthsayers, reward the criminals and minions that go along with the corruption
I believe the transgression is worded, "harmful use of math".
Weapons of Mathdestruction !!
The definition of truth has been drastically altered by our lords.
Because that's not why they're being prosecuted. "Wrong" opinions draw attention to you, and like any other nail sticking out, it attracts the hammer.
In other news, NRSRO is proven to be a warning label for criminality (as evidenced by the Wiki article on them).
They prosecute to put you out of business. Sick 50 lawyers on you and run up costs so high that you think twice about doing it again. Has nothing to do with whether the case has merit or not.
Ahhhh the almighty Egan-Jones...
My rating: The UK is fucked up and bullshit.
http://bullybloggers.files.wordpress.com/2012/04/shit-is-fucked-up-bulls...
A+ is very good, at least the universities that I attended.
Now, C- would be a problem.
Why would anyone even bother to rate UK, or other countries for that matter. It's all based on fake numbers.
Oh look! Good enough for algobots to pump a green finish apparently!
queue up the suicides...this has to be embarrassing to the royal family.
Nahhh.....they're too busy watching pediporn
Followed by a dip in the ol' McDuck bullion chamber.
I don't think the old hag and her semi-retarded son have been granted clearance to access Waddesdon Manor's secret chambers.
S&P 1900 here we come!
Ratings should not be viewed as assurances of credit quality or exact measures of the likelihood of default (pimpin' since been pimpin' since been pimpin')
And (gbp/usd) just flips everyone the bird.
Cixelsyd Algos probably read this and see it as a positive
Love it Sean! Test Balloon on the Non NSRO. Now you can keep downgrading on a daily/weekly basis
Bravo! <standing ovation>
usd/jpy 94.50 @ 15:58 yesterday usd/jpy 94.40 @15:58 today. Why did I even get up this morning?
"... NRSRO: the same worthless designation ..." is still profitable for them that has it.
... NRSRO: the same empty designation ... is the fundamental value.
Cyprus was AA- only a few years ago... and then the rating started to fall.
Their printer must not be as big as our printer!
I just downgraded the US to E as in Ectoplasm.
Does that mean I'll get a reach around from some FAA BBW while getting searched at JFK?
ITS BANKS HAVE A 25 B £ hole and now this...
Its current account is abysmal; what are Boris and Cameron going to do?
Jump from the Shard with no parachute?
Financial policy committee identifies £25bn capital shortfall in UK banks | Business | The Guardian
What they're going to do is obvious. They are going to print and devalue until all the holes are filled and the population can't afford to import anything.
what will Maggy say?
All this to obtain this? WHy did I ditch those miners and dismantle all those service and national industries?
To be betrayed by this mediocrity or was I mad from the beginning? When did it all begin, my delusion?
You can't have it both ways and your way was not my way, as we are not a nation but two classes of people face to face, unless we have a common enemy like the Argentinians (haha, good one Maggy you chose one fascist as enemy the other as ally) ; sad, but those Oligarchs are more Londoners than old east endeners. A nation divided now needs to find solidity again.
Build up from the ground. And throw those new comers back to old colonies and hanky panky moscovy land ; humm ain't life a circle?
Its a bitch of a world. What is now done cannot be undone and past dreams give way to new means of cosmopolitanism; land of individuals living in virtuality as much as in reality.
May the Google games begin. Luckily we still have the people, fish n chips, chutney dips and a sense of humour!
Street guy, irritated yelling "Maggie!"
observer wryly: "Sorry mate, those days are over..."
(from the film NAKED)
mr. egan jones you have a lovely daughterrrr ...
i know, right!? So bad i downgraded myself.
Great scots!!
Robin!! The UK is in trouble. Get the bat helicopters out of Cyprus and start air-dropping cash on 10 Downing.
Good thinking Batman!!
Thumbs up to Egan-Jones' independence.
Kudos to EJ!