How’s your credit?

The credit rating agencies are issuing mutterings about the UK probably not being worthy of its AAA credit rating – you may have heard some of this on the news…
What it means is; should these fiscal geniuses decide that the UK is not a safe bet, then we have to pay more for our borrowings – and as you may also have seen on the news; we are borrowing quite a lot.

Quite a lot of borrowings + lower rating = higher interest rates & therefore higher taxes.

Who are these people? – In short, its the same folk who decided that all those ‘sub prime’ packages were worth a fortune and should be traded at full value, the same folk who validated those pieces of crap so that they could be sold around and infect the global banking system, the same people who are so experienced and up to the moment that they never foresaw any of the financial meltdown the world has just gone through.
Why anyone gives a shit what they think is completely beyond me, in any other industry they simply would not have survived what they failed to do last time – but for some reason they not only survive, they prosper, and people still listen to them.
Is it me, or are we being ‘played’…

more here

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