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Thread: Brexit ~ U.K. Credit Downgrade as stocks continue to Tumble

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    Brexit ~ U.K. Credit Downgrade as stocks continue to Tumble

    Just In

    UK loses top credit rating from S&P

    http://www.bbc.com/news/business-36644934

    The UK has lost its top AAA credit rating from ratings agency S&P following the country's Brexit vote.

    S&P said the the referendum result could lead to "a deterioration of the UK's economic performance, including its large financial services sector".

    Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day.

    The move comes after chancellor George Osborne said the UK will face the future "from a position of strength".

    Speaking earlier, in an attempt to restore calm to the markets, the chancellor said the economy would need to "adjust" but was strong enough to cope.

    S&P had been the only major agency to maintain a AAA rating for the UK.


    On Friday, Moody's cut the UK's credit rating outlook to negative.

    A rating downgrade can affect how much it costs governments to borrow money in the international financial markets.

    In theory, a high credit rating means a lower interest rate (and vice versa).

    S&P said that the leave result would "weaken the predictability, stability, and effectiveness of policymaking in the UK".


    U.S. stocks continue to tumble on Brexit; Yellen appearance canceled

    http://www.investing.com/news/stock-market-news/u.s.-stocks-continue-to-tumble-on-brexit;-yellen-appearance-canceled-410874



    'How and Why ?' ~ Einstein

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    The global elite are trying to hold the British people hostage economically. This is completely disgusting.

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    Peter1469 (06-27-2016)

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    Yes, this was premature for the S&P. Corruption.
    ΜOΛΩΝ ΛΑΒΕ


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    Yep, the DJIA is likely to dip below 17,000 tomorrow if not today - 700+ point dump in two days.

    But remember - this isn't a global economy and what those silly Brits do won't affect US


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    Quote Originally Posted by Peter1469 View Post
    Yes, this was premature for the S&P. Corruption.
    Seemed perfectly fine when Bush headed us into the Great Depression and took DOW to under 7,000.
    'How and Why ?' ~ Einstein

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    Quote Originally Posted by exotix View Post
    Seemed perfectly fine when Bush headed us into the Great Depression and took DOW to under 7,000.
    Do you have idea what credit ratings are?
    ΜOΛΩΝ ΛΑΒΕ


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    Quote Originally Posted by Peter1469 View Post
    Do you have idea what credit ratings are?
    Yours matters but Big Govts' doesn't ?
    'How and Why ?' ~ Einstein

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    Quote Originally Posted by Peter1469 View Post
    Do you have idea what credit ratings are?
    Aren't those the pesky things that Ted Cruz caused to get downgraded costing our economy 24 billion plus higher interest?

    http://swampland.time.com/2013/10/17...t-the-economy/

    Has he paid that back or what?

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    exotix (06-27-2016)

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    Quote Originally Posted by Bo-4 View Post
    Aren't those the pesky things that Ted Cruz caused to get downgraded costing our economy 24 billion plus higher interest?

    http://swampland.time.com/2013/10/17...t-the-economy/

    Has he paid that back or what?
    lol

    I know that you know what credit ratings are. Exo- don't bet on it.
    ΜOΛΩΝ ΛΑΒΕ


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    Quote Originally Posted by Bo-4 View Post
    Aren't those the pesky things that Ted Cruz caused to get downgraded costing our economy 24 billion plus higher interest?

    http://swampland.time.com/2013/10/17...t-the-economy/

    Has he paid that back or what?
    He doesn't remember that ... he's back to voting aye for terrorists and mass-murderers getting AR-15's ... yeah he read that in Green Eggs & Ham.
    'How and Why ?' ~ Einstein

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