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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
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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!)
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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)
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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.)
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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
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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
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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.)
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To: Kartographer

Moody’s was paid for that opinion...


27 posted on 06/14/2010 1:29:23 PM PDT by Professional
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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
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To: Kartographer

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


29 posted on 06/14/2010 4:54:12 PM PDT by cranked
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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
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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
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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.)
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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)
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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)
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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
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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)
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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)
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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)
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