leftists demonstrate against the downgrading of credit ratings

Demonstrators from the left-wing Parti de Gauche political party demonstrate outside the offices of Standard and Poor’s in Paris, January 13, 2012. A euro zone official said that France and Austria would lose their top-notch triple-A ratings and Slovakia would also be affected in an announcement expected later today. Banners read “Notations Kill”.

this is the left’s reaction to the following story:

Standard & Poor’s downgraded the credit ratings of nine euro zone countries, stripping France and Austria of their coveted triple-A status but not EU paymaster Germany, in a Black Friday 13th for the troubled single currency area.

“Today’s rating actions are primarily driven by our assessment that the policy initiatives that have been taken by European policymakers in recent weeks may be insufficient to fully address ongoing systemic stresses in the eurozone,” the U.S.-based ratings agency said in a statement.

Read more here

Categories: Economics, My Personal Philosophy of Life, Politics | Tags: , , | 6 Comments

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6 thoughts on “leftists demonstrate against the downgrading of credit ratings

  1. BB-Idaho

    I’m glad Standard & Poors isn’t interested in my credit rating….

  2. The Griper

    one of the benefits of being one of the 99% huh, BB?

  3. BB-Idaho

    Yes..the peacefulness of anonymity. S & P has grown a bit stricter since their high
    ranking of defunct Lehman Brothers. Odd thing about credit ratings: if you buy and
    pay cash, your credit rating is low because you have no history of paying down debt.
    Another advantage of the 99% is that you don’t buy anything. Prediction: business
    will find that out in oh, about 10-15 years. Meanwhile, people will go in to debt for
    trivial things. Cellphone- I was advised to get one some years back. So I went in to
    the cellphone store. “Are you going to use it to download music, locate GPS coordinates, watch movies…” Uh, I thought it might be handy while traveling
    across Montana, Wyoming..you know in case of car trouble?” “Oh, they don’t
    work in THAT area.” Still don’t have one-quite a savings. 🙂

  4. The Griper

    i don’t have a cell phone either but did break down and got “magic jack”. and from what i have heard there is one that does not need a computer in order to work on phone. get yourself a phone that isn’t full of extras that need electricity and that will be fine for those emergency situations. also got me a gps unit from hsn which will be nice for my annual trip this coming summer.

  5. BB-Idaho

    Rather odd- Moody’s did not downgrade French credit. You suppose they have
    different data ?

  6. The Griper

    probably not different but give different value to data like the three credit companies that monitor yours and my credit rating.

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