Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Moody's cuts Greece government ratings to junk
Reuters ^ | 6/14/10 | Ciara Linnane

Posted on 06/14/2010 10:45:38 AM PDT by Kartographer

Moody's Investors Service on Monday downgraded Greece government bond ratings into junk territory, citing the risks in the euro zone/IMF rescue package for the debt-laden country.

The agency downgraded the rating by four notches to Ba1, placing it one notch into junk status. The outlook is stable.

Moody's also downgraded Greece's short-term issuer rating to not-prime from Prime-1.

(Excerpt) Read more at reuters.com ...


TOPICS: Breaking News; Business/Economy; Foreign Affairs
KEYWORDS: bonds; greece; junk; moodys; piigs
The dominoes should start falling soon now

1 posted on 06/14/2010 10:45:38 AM PDT by Kartographer
[ Post Reply | Private Reply | View Replies]

To: Kartographer

Here we go....


2 posted on 06/14/2010 10:47:44 AM PDT by anniegetyourgun
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer

DIVE....DIVe..DIve....Dive...............


3 posted on 06/14/2010 10:47:46 AM PDT by blueyon (The U. S. Constitution - read it and weep)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer
The agency downgraded the rating by four notches to Ba1, placing it one notch into junk status. The outlook is stable.

Of course - stable junk! Who's next - Spain?

4 posted on 06/14/2010 10:47:48 AM PDT by Rummyfan (Iraq: it's not about Iraq anymore, it's about the USA!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer

so, what now?


5 posted on 06/14/2010 10:47:59 AM PDT by MNDude
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer

That is going to leave a mark.


6 posted on 06/14/2010 10:48:08 AM PDT by A Balrog of Morgoth (QMC(SW) USN........ CG21 DD988 FFG34 PC6 ARS53)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer; CRBDeuce

7 posted on 06/14/2010 10:48:12 AM PDT by RetroSexual
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer

The horse has been out of the barn for quite some time. And they’ve now decided to close the door?


8 posted on 06/14/2010 10:49:18 AM PDT by meyer (Big government is the enemy of freedom.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

FYI


9 posted on 06/14/2010 10:50:10 AM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Kartographer

All of Eastern Europe is going to be going thru times that make America even now look like one Big New Years Eve blowout. Serbia, Ukraine, Bulgaria, Romania, all of them are going to go under very bad it seems. Heart wrenching, as these nations full of honorable and God loving good people have suffered mnore than enough for several lifetimes. They have hapless, quasi socialist govt’s and it seems like too many people there are breaking from their genuine Christian roots-I sure hope and pray I am wrong about this- and that is making it worse. At soem point they will say enough; after suffering Communism to various degrees and colonialism from Turks (Bulgariam, Serbia), Germans (Serbia) and Russians (Ukraine) I imagine there is not much more they will tolerate.


10 posted on 06/14/2010 10:52:23 AM PDT by emax
[ Post Reply | Private Reply | To 1 | View Replies]

To: meyer

Even Moody’s doesn’t seem to understand that we aren’t simply “in a cycle.”


11 posted on 06/14/2010 10:52:40 AM PDT by anniegetyourgun
[ Post Reply | Private Reply | To 8 | View Replies]

To: emax

You’re absolutely right.


12 posted on 06/14/2010 10:53:45 AM PDT by unkus
[ Post Reply | Private Reply | To 10 | View Replies]

To: blam

What’s your take on this? Is it as dire as it sounds?


13 posted on 06/14/2010 10:56:51 AM PDT by hennie pennie
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rummyfan
Correct answer!

http://www.freerepublic.com/focus/f-news/2534276/posts

14 posted on 06/14/2010 11:07:56 AM PDT by mojito
[ Post Reply | Private Reply | To 4 | View Replies]

To: anniegetyourgun
Here we go....

Wish I had a dollar for every time someone posted that here at FR, I'd be rich.

If the DOW drops by more than 50 points it's a sure bet someone will post this sentiment.

15 posted on 06/14/2010 11:11:41 AM PDT by softwarecreator (I want my greenshoots!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: softwarecreator

You’re right...the destruction began on 11/4/08.


16 posted on 06/14/2010 11:13:00 AM PDT by anniegetyourgun
[ Post Reply | Private Reply | To 15 | View Replies]

To: anniegetyourgun
Even Moody’s doesn’t seem to understand that we aren’t simply “in a cycle.”

I think that they understand. They're just participating in the psychological game of "getting people to spend money". In other words, their goal was to make the people think that everything is OK and it's acceptable to carry on as usual. Kind of like our government telling everybody to go out and spend post-9/11.

17 posted on 06/14/2010 11:13:41 AM PDT by meyer (Big government is the enemy of freedom.)
[ Post Reply | Private Reply | To 11 | View Replies]

To: Kartographer

Closing the barn door after the horses are out.


18 posted on 06/14/2010 11:16:50 AM PDT by Pessimist
[ Post Reply | Private Reply | To 1 | View Replies]

To: meyer

After 9/11 we were in a normal biz cycle (for a nation that had it’s economic center hit by terrorism)...things bounced back. After 11/4/08, all things changed - nothing is the same.


19 posted on 06/14/2010 11:16:53 AM PDT by anniegetyourgun
[ Post Reply | Private Reply | To 17 | View Replies]

To: meyer

See post 18.

Great minds, and all that. :)


20 posted on 06/14/2010 11:17:37 AM PDT by Pessimist
[ Post Reply | Private Reply | To 8 | View Replies]

To: anniegetyourgun
You’re right...the destruction began on 11/4/08.

So true.  =)

21 posted on 06/14/2010 11:17:58 AM PDT by softwarecreator (I want my greenshoots!)
[ Post Reply | Private Reply | To 16 | View Replies]

To: Kartographer

Coming soon to a nation near you.


22 posted on 06/14/2010 11:19:17 AM PDT by Tzimisce (No thanks. We have enough government already. - The Tick)
[ Post Reply | Private Reply | To 1 | View Replies]

To: anniegetyourgun
After 9/11 we were in a normal biz cycle (for a nation that had it’s economic center hit by terrorism)...things bounced back. After 11/4/08, all things changed - nothing is the same.

That is true - while the US debt was not good in 2001, it wasn't nearly in the position that it is now. And, unemployment wasn't nearly as high as it is now. As for Greece, I don't know their situation at that point in time, but I'm certain that it's a LOT worse now.

The US is only a couple of years behind Greece now, tanks to Obambi and the commies in Congress. Our government's credit rating shouldn't be as high as it is.

23 posted on 06/14/2010 11:32:31 AM PDT by meyer (Big government is the enemy of freedom.)
[ Post Reply | Private Reply | To 19 | View Replies]

To: emax

“All of Eastern Europe is going to be going thru times that make America even now look like one Big New Years Eve blowout. Serbia, Ukraine, Bulgaria, Romania, all of them are going to go under very bad it seems. Heart wrenching, as these nations full of honorable and God loving good people have suffered mnore than enough for several lifetimes. They have hapless, quasi socialist govt’s and it seems like too many people there are breaking from their genuine Christian roots-I sure hope and pray I am wrong about this- and that is making it worse. At soem point they will say enough; after suffering Communism to various degrees and colonialism from Turks (Bulgariam, Serbia), Germans (Serbia) and Russians (Ukraine) I imagine there is not much more they will tolerate.”

If you did not identify the countries, I could have mistaken your description for the USA. I suppose that we have only begun to suffer the pains of Marxism so we cannot be called long suffering.


24 posted on 06/14/2010 12:51:37 PM PDT by businessprofessor
[ Post Reply | Private Reply | To 10 | View Replies]

To: businessprofessor

Well yeah you are right. The next 5 years or so will be a small sample of what countries like Ukraina and Romania have been going through for a century, and it will drive who knows how many Americans insane to the point they need to be committed.


25 posted on 06/14/2010 12:53:37 PM PDT by emax
[ Post Reply | Private Reply | To 24 | View Replies]

To: Kartographer

My Diner Futures!


26 posted on 06/14/2010 1:21:14 PM PDT by Vaquero (Don't pick a fight with an old guy. If he is too old to fight, he'll just kill you.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer

Moody’s was paid for that opinion...


27 posted on 06/14/2010 1:29:23 PM PDT by Professional
[ Post Reply | Private Reply | To 1 | View Replies]

To: Lurker
Thanks.

My electricity has been off much of the day...and, Obama came to town too.(Probably still here now)

28 posted on 06/14/2010 3:08:33 PM PDT by blam
[ Post Reply | Private Reply | To 9 | View Replies]

To: Kartographer

Bingo.....Portugal, Spain, France, UK, etc. are next......


29 posted on 06/14/2010 4:54:12 PM PDT by cranked
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer

Don’t worry, Al Franken’s amendment to nationalize the security rating system means that US debt will always be rated AAAAAAAAAA.

http://blogs.wsj.com/deals/2010/05/13/al-frankens-credit-rating-amendment-is-no-joke/


30 posted on 06/14/2010 5:45:45 PM PDT by Gideon7
[ Post Reply | Private Reply | To 1 | View Replies]

To: emax
"honorable and God loving good people have suffered mnore than enough for several lifetimes. "

Just like the Russians, they have largely chosen that lifestyle themselves. And you confirm this in your own words:

"PThey have hapless, quasi socialist govt’s"

31 posted on 06/14/2010 5:53:18 PM PDT by TopQuark
[ Post Reply | Private Reply | To 10 | View Replies]

To: Kartographer

And they were not junk before?


32 posted on 06/15/2010 4:11:13 AM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RetroSexual


Shouldn't that be spelled "GREASE"?

33 posted on 06/15/2010 7:29:49 AM PDT by left that other site (Your Mi'KMaq Paddy Whacky Bass Playing Biker Buddy)
[ Post Reply | Private Reply | To 7 | View Replies]

To: emax

Actually the truth is far more complex.

Russia has a 13% flat tax as opposed to the US draconian tax rules based on mile high rules that cater to every special interest who ever asked for favors. Unlike us, Russia exploits its God given natural resources and its economy is far healthier than ours at present.

Also your point about the Eastern Europeans-—I submit that even after the horrors of living under a Soviet marxist era the people have turned to their Christian roots and are far more ardently Christian than the wishy washy Christianity of this nation or their cousins in Western Europe.

Finally, Ukrainians were ruled by a Ukrainian Communist party - ethnic Ukranians. Russia was ruled by a Soviet communist party, the Poles under the Polish commies etc etc. These communists did not believe in ethnicity - they were soviets. The Russian non communist people suffered more under the communist system than any other ethnic groups except possibly the Chinese.

As for the Greeks—after causing Hitler a ton of trouble - they fought a 5 year bloody civil war to oust the communists after WWII. Their economic woes are made possible courtesy of membership into the EU - a flawed an immoral cabal. That as well as a so called conservative govt which was as corrupt as any to be had with Socialists. Sound familiar?

http://www.worldwide-tax.com/


34 posted on 06/15/2010 9:24:24 AM PDT by eleni121 (For Jesus did not give us a timid spirit , but a spirit of power, of love and of self-discipline)
[ Post Reply | Private Reply | To 10 | View Replies]

To: eleni121

What good is a low tax when Putin can tax you 100% of your assets by confiscating them?


35 posted on 06/15/2010 1:08:02 PM PDT by mainsail that
[ Post Reply | Private Reply | To 34 | View Replies]

To: mainsail that

You may not be aware...have you ever heard of the term “oil/oligarch” - you know the corrupt plutocrats who want to make fast money and then skeddaddle-—kind of like what Hillary’s brothers were up to in Georgia and Azerbaijan...and what drug dealers do.

They belong in prison—here and there and everywhere


36 posted on 06/15/2010 4:10:11 PM PDT by eleni121 (For Jesus did not give us a timid spirit , but a spirit of power, of love and of self-discipline)
[ Post Reply | Private Reply | To 35 | View Replies]

To: Gideon7

is that the “gosh darn it people like me” bill?


37 posted on 06/15/2010 5:10:17 PM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
[ Post Reply | Private Reply | To 30 | View Replies]

To: blam

that is one way to shut down the internet.


38 posted on 06/15/2010 5:11:10 PM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
[ Post Reply | Private Reply | To 28 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson