Whether this is case of punishment for exiting or actual concern remains to be seen, although the former is quite plausible. The S&P has in the past been used as an economic warfare tool by the American government to bend or break nations to its will.
See the source link for the video.
Standard & Poor’s on Monday downgraded the United Kingdom’s sovereign credit rating by two notches, from “AAA” to “AA,” citing last week’s referendum that approved a British exit from the European Union.
“In our opinion, this outcome is a seminal event, and will lead to a less predictable, stable, and effective policy framework in the U.K. We have reassessed our view of the U.K.’s institutional assessment and now no longer consider it a strength in our assessment of the rating,” the ratings agency said in a news release. Continue reading
Just three short years ago, Bank of England chief economist Andy Haldane appeared a lone voice of sanity in a world fanatically-religious Keynesian-esque worshippers. Admissions in 2013 (on blowing bubbles) and 2014 (on Too Big To Fail “problems from hell”) also gave us pause that maybe someone in charge of central planning might actually do something to return the world to some semblance of rational ‘free’ markets. We were wrong! Haldane appears to have fully transitioned to the dark side, as The Telegraph reports, he made the case for the “radical” option of supporting the economy with negative interest rates, and even suggested that cash could have to be abolished. Continue reading
Gordon Brown… arguably Great Britain’s first Communist Prime Minister.
James Gordon Brown is a British politician who was the Prime Minister from June 2007 to May 2010 of the United Kingdom of Great Britain and Northern Ireland. Gordon has floated the Marxist Balloon for all we hear about now is eliminating physical money. Those who have ever worked in government NEVER see themselves as the problem – it is always us. So what is the Marxist Balloon? People not immediately in power float an idea so the government can gauge how the press and the people take it. If it goes badly, they say he is speaking personally. If it is not attacked, they float the policy. This is what Gordon Brown has just done. Continue reading
The US –EU transatlantic trade deal, will go to a second round of talks in mid- November, but could hit a stumbling block over Germany’s demand for data protection as a condition to signing the treaty.
The EU and US policymakers agreed to hold two more rounds of trade negotiations over the next two months, The Wall Street Journal reports. The first round will take place in Brussels on November 11-15 and cover investment and energy sector trade, as well as address regulatory issues. In December officials will congregate in Washington DC for another round of talks. Continue reading
BERLIN (AP) – President Barack Obama on Wednesday will renew his call to reduce the world’s nuclear stockpiles, including a proposed one-third reduction in U.S. and Russian arsenals, a senior administration official said.
Obama will make his case during a speech at Berlin’s iconic Brandenburg Gate. His address comes nearly 50 years after John F. Kennedy’s famous Cold War speech in this once-divided city. Continue reading
The Group of Eight (G8) summits have traditionally been seen more for their vanity than substance, and the one that opens today (June 17) in Lough Erne, Northern Ireland, will not be an exception. The members of this privileged club—the United States, United Kingdom, France, Canada, Germany, Japan, Italy and Russia—see no particular need to overcome their differences in managing the world’s slow-burning crises, from the economic slowdown to Syria. Besides the photo-ops, the main content of these tightly scripted get-togethers is supposed to be generated in the back rooms, and the most private of those is this time reserved for the meeting between US President Barack Obama and Russian President Vladimir Putin, which should have happened a year ago, had Putin not opted to skip the May 2012 G8 summit in Camp David. The key figures in the Obama administration have far outdone their Russian counterparts in preparing an agenda for this tete-a-tete but succeeded only in downplaying the criticism of Putin’s persecution of political dissent, while no breakthrough in arms control is in the making (Kommersant-FM, June 14). Expectations that Russia could show some flexibility on Syria are arrested by the long-postponed announcement in Washington on providing military aid to the rebels. And what little understanding there was on issues looming over the wider Middle East is shattered by Putin’s statement that he has “no doubt that Iran is compliant with the rules” in executing its nuclear program (Gazeta.ru, Moscow echo, June 14; Forbes.ru, June 12). Continue reading