Start with why S&P downgraded the USAs debt rating while the UKs remains triple-A.
You think the UK is safe from a downgrade? You wanna know what would happen if the rating agencies downgrade us? It would be far more sever for our economy than the US. You see lenders will continue to lend to America because they're the worlds largest economy. They're safe. It's one of the reasons why there wasn't huge panic when the US was downgraded. The UK doesn't have that luxury. The US downgrading is nothing compared to what's happening in Europe.
You think the UK is safe from a downgrade? You wanna know what would happen if the rating agencies downgrade us? It would be far more sever for our economy than the US. You see lenders will continue to lend to America because they're the worlds largest economy. They're safe. It's one of the reasons why there wasn't huge panic when the US was downgraded. The UK doesn't have that luxury. The US downgrading is nothing compared to what's happening in Europe.
Erm, and how does any of that explain why the US HAS ALREADY BEEN DOWNGRADED?
Sure they've got economic problems, really serious problems. But compared to the UK and Europe the US is debt free. I always facepalm myself when I hear people on this side of the pond describing Americans as debt ridden fatass rednecks who can't point their own country on a map. People don't realize that we're in far deeper in trouble than the US.
For months the UK/European media were laughing at the US and its debt crisis. Oh dear :rolleyes:
Before you make an even bigger fool of yourself than you already have, you might want to look at the facts:
According to the IMF (2010 data), the US has public debt equivalent to 94.36% of GDP. This compares to 75.5% for the UK. Both Germany and France are also less indebted than the US at 83.96% and 82.33% respectively.
I'm not sure any country really started the Great Recession. I think it was due to many bad decisions on top of more bad decisions. It might be a while before countries dig out of it.
OP you say without the Americans we would be nothing...ok thats maybe true in recent history. But I pose this back to you...BECAUSE OF THEM we ARE in this shit atm. If in 1801 they hadnt rebelled against our generous government, we would have the greatest empire ever seen and we would all be living the lives of kings with the abundant resources of North America and Canada.
Is this sarcasm?
The British Empire probably would have fallen apart eventually anyway. I don't see how a country of 60 million could possibly control all those other large countries. Yes, Canada and Australia are still part of the commonwealth, but I don't think they're under British laws as much as the American Colonies were.
The British Empire probably would have fallen apart eventually anyway. I don't see how a country of 60 million could possibly control all those other large countries. Yes, Canada and Australia are still part of the commonwealth, but I don't think they're under British laws as much as the American Colonies were.
They are just members of a club. The Brits have no say in how Canada, Australia or any other commonwealth country 'runs' themselves, as far as I'm aware.
However, we do have some say in how our dependent/overseas territories are run.
The British Overseas Territories and Crown Dependencies are distinct from the Commonwealth of Nations, a voluntary association of countries which mostly have historic links to the British Empire.
And while it would be ridiculous for us nowadays to have a British Empire, we still have high status in other areas, such as military capability, being a permanent member of the UN Security Council, a member of the G7/G8 group of countries etc.
I'm not sure any country really started the Great Recession. I think it was due to many bad decisions on top of more bad decisions. It might be a while before countries dig out of it.
It's down to the fact that the entire banking system is was a house of cards held in place by the power of individual greed...
According to the IMF (2010 data), the US has public debt equivalent to 94.36% of GDP. This compares to 75.5% for the UK. Both Germany and France are also less indebted than the US at 83.96% and 82.33% respectively.
And? You think it was the debt that made S&P downgrade the US? Like someone said above it was because they were nervous of the Democrats and Republicans not reaching a deal. The difference between the financial criseses of Europe and America is that in America it's purely politicial. In Europe the crisis is far more severe, it's economic.
Oh and I could name a dozen countries that have similar or bigger debt to GDP than America that are financially ok, Japan being the most noticeable.
Comments
You think the UK is safe from a downgrade? You wanna know what would happen if the rating agencies downgrade us? It would be far more sever for our economy than the US. You see lenders will continue to lend to America because they're the worlds largest economy. They're safe. It's one of the reasons why there wasn't huge panic when the US was downgraded. The UK doesn't have that luxury. The US downgrading is nothing compared to what's happening in Europe.
Erm, and how does any of that explain why the US HAS ALREADY BEEN DOWNGRADED?
it was downgraded because Democrats and Republicans couldn't get along in dealing with reducing debt.
Before you make an even bigger fool of yourself than you already have, you might want to look at the facts:
http://http://en.wikipedia.org/wiki/List_of_sovereign_states_by_public_debt
According to the IMF (2010 data), the US has public debt equivalent to 94.36% of GDP. This compares to 75.5% for the UK. Both Germany and France are also less indebted than the US at 83.96% and 82.33% respectively.
http://www.usnews.com/news/articles/2011/01/28/the-10-countries-with-the-most-debt
Thank you for endorsing my post by confirming that the US is indeed more indebted than the UK, France and Germany.:D
Is this sarcasm?
The British Empire probably would have fallen apart eventually anyway. I don't see how a country of 60 million could possibly control all those other large countries. Yes, Canada and Australia are still part of the commonwealth, but I don't think they're under British laws as much as the American Colonies were.
Nobody shoves fast food down peoples' throats. They choose to eat what they want.
They are just members of a club. The Brits have no say in how Canada, Australia or any other commonwealth country 'runs' themselves, as far as I'm aware.
However, we do have some say in how our dependent/overseas territories are run.
http://en.wikipedia.org/wiki/British_Overseas_Territories
And while it would be ridiculous for us nowadays to have a British Empire, we still have high status in other areas, such as military capability, being a permanent member of the UN Security Council, a member of the G7/G8 group of countries etc.
http://en.wikipedia.org/wiki/UN_Security_Council
http://en.wikipedia.org/wiki/G8
It wasn't a particular pop, but:
http://en.wikipedia.org/wiki/McDonald%27s
No just a troll in training...
Since you ask, in my case it is a matter of recent history.
And? You think it was the debt that made S&P downgrade the US? Like someone said above it was because they were nervous of the Democrats and Republicans not reaching a deal. The difference between the financial criseses of Europe and America is that in America it's purely politicial. In Europe the crisis is far more severe, it's economic.
Oh and I could name a dozen countries that have similar or bigger debt to GDP than America that are financially ok, Japan being the most noticeable.