Poor old George Osborne. As well as being a TTT (total tory tosser), now he’s lost the UK’s AAA credit rating. (Oh, and by the way BBC, it is the UK’s credit rating, not just Britain’s! I know you’d prefer us to sit on our fleg and fuck off, but…)
Anyhow, it would seem that some bunch of unelected, unaccountable so-called ‘analysts’ have decided that we don’t match up to their stringent and unbiassed economic criteria to be considered as AAA-worthy. So, to misquote ‘Living without Alice’, who the fuck are these folk?
Moody’s are a US company whose striking performances include failing to anticipate the US housing market collapse. They are also funded by Wall Street firms and, hey, guess what, along with those other bastions of fiscal rectitude Standard and Poors and Fitch Ratings, they admitted to a US Senate hearing on Aptil 24th, 2010 that they had ’…suppressed internal concerns about the securities they rated due to pressure from the banks that paid their fees.’ (http://www.ft.com/cms/s/0/9456f280-4f03-11df-b8f4-00144feab49a.html#axzz2Lk2yB84Q). A report from Duke University, Keenan Institute for Ethics, states that ‘With the advent of the subprime mortgage crisis, it became apparent that CRAs [Credit Ratings Agencies], particularly Moody’s, had inﬂated the credit worthiness of some of the riskier assets they rated.’ (http://kenan.ethics.duke.edu/wp-content/uploads/2012/07/Case-Study-Greed-and-Negligence.pdf, p. 7)
I know I rant on about the evils of international capital, but here’s a bunch of mercenaries whose only allegiance is to making money, talking down the economy of a country. So if the Bank of England decides to hike interest rates to appease these wankers, it’s your mortgage going up, your bank changes soaring – not theirs. And, hey, if certain stocks and futures appreciate and they make money on the back of it, are they going to feel guilty?
This is the problem with international capitalism. It ensures that the billions who live on the planet are irrelevant. The ones who matter are perhaps no more than a few thousand of the sort of people who would drive down house prices and lower the tone of the neighbourhood if they moved into your district. (Happily, they won’t, because they don’t associate with impecunious scum like you and me!).
So the shysters, spivs and crooks – sorry, market traders and analysts – who ensure that you pay top dollar for every and any commodity you can name, and all of those you can’t, get mink in their Maseratis, while you and I can only dream of having a full tank in the Mini. That’s the free market for you. These wankers decide where the exchange rate goes – and right now the pound in your pocket is going downhill against the dollar and the Euro. Is the pound’s worth of gold in the Bank of England (the few kilos that Gordon Brown didn’t flog off at the bottom of the market) any smaller than it was last week? Does it cost any more to get a barrel of oil out of the ground? Er… no! In short, if things were let to progress without the intervention of these parasites, the 99% would be far better off. But then that would make the 1% very unhappy, and the likes of wee George can’t have that, can he?
Us lot are never going to be free of the malign influence of the Moody’s of the world until we decide to take back the world and tell these irrelevant money-grubbers to go suck a diseased donkey’s dick – and die! But that presupposes that folk are going to vote out all of those Torys and Tory lookalikes (Noo Labour, US Republicans and Democrats etc., Liberal somethingorothers) and vote in politicians who are interested in the welfare of their fellow citizens and not in lining their own pockets and egos and those of their friends in the rest of the 1%. Where do we find such selfless folk? And even if we could, are we likely to vote them in? In the UK less than 50% vote…Apathy rul..ah, who gives a fuck.
Oh well! Come the revolution and the next load of fat cats take over…