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I fart in your general direction!

20 posts & 9 voices | Started 5 months ago by Stoner | Latest reply from oldnpastit

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Stoner - Member

"Your mother was a hamster and your father smelt of elderberries!"
"Fetchez la vache!"

Has it come to this

French officials are irked that the euro-member country’s triple A status is under fire, while that of Britain has not so far come under threat, despite the UK’s higher deficit, similar debt levels, high inflation and sluggish economy. Their annoyance was fuelled by recent comments from George Osborne, UK chancellor, comparing France’s predicament to that of Greece.

http://www.ft.com/cms/s/0/b783c646-27cb-11e1-9433-00144feabdc0.html#axzz1ghhjrcVI

The governor of France’s central bank has said Britain is more deserving of losing its top-notch credit rating than France as Paris braces itself for a potential downgrade of the country’s triple A status.

http://www.ft.com/cms/s/0/40746fc8-2713-11e1-b9ec-00144feabdc0.html#ixzz1ghiINSg2

Course it does. That's why French spreads are 80bps wider than UK

thhhrrrprpppppP!!!!!
Quel est le mot pour "sour grapes"?

www.youtube.com/watch?v=DGXx56WqqJw

Posted 5 months ago #
Markie - Member

Somebody must be due an election, I guess!

That and they know they'll be shafted if the Euro collapses (that is to say, shafted even more than we and quite possibly the global economy will be!).

Posted 5 months ago #
binners - Member

I'm sure the poison dwarf has already got his speech written for when the Euro collapses. Blaming us! Can't be long now

Actually... thinking about it.... has anyone ever seen Sarkozy and TJ in the same room..... Hmmmmmmmm, I wonder.....

Posted 5 months ago #
PJM1974 - Member

They do have a point... we're (considerably) deeper in debt than the French, our economy is growing slower.

Posted 5 months ago #
TandemJeremy - Member

binners - Member

I'm sure the poison dwarf has already got his speech written for when the Euro collapses. Blaming us! Can't be long now

Actually... thinking about it.... has anyone ever seen Sarkozy and TJ in the same room..... Hmmmmmmmm, I wonder.....

You mean Sarkozy is Prince Philips love child as well?

Posted 5 months ago #
Markie - Member

They do have a point... we're (considerably) deeper in debt than the French, our economy is growing slower.
But France faces a lot more grief from the PIIGS Eurozone strife:
What places the French sovereign in particular distress is its commitments to the banks.

Posted 5 months ago #
Edukator - Member

The spreads have blindly followed S&P's somewhat biased leaks and attempts to divert attention from their more fragile customers.

In this case I'll translate "sour grapes" as "Le dépit Amoureux", a Molière play in which the protagonists indulge in much bitching and many dirty tricks before marrying, and one assumes living happily ever after.

Posted 5 months ago #
binners - Member

we're (considerably) deeper in debt than the French, our economy is growing slower.

Yes, but we're not bound into a currency that's about to be flushed down the toilet. I think the differing credit ratings of France and us tell us everything we need to know about what the markets think of the longevity of the Euro

Posted 5 months ago #
Stoner - Member

we're (considerably) deeper in debt than the French

No we're not. Our debt is 85% of GDP, france is 84% GDP.

The deficit for this year isnt so rosy, I think we're 8.3% GDP and they're 7% ish.

Binners - as it's always been said, credit rating agencies follow the market, not vice versa. Edukator - really, the spreads have been widening long before the negative watch.

Posted 5 months ago #
teamhurtmore - Member

Indeed Markie - its the banks that are France's achilles heels - their sub-prime has been lending excessively to the periphery. Ooops.

Not a very edifying spectacle from a central banker. Hence the FT headline: "Noyer should behave like a central banker."

Perhaps TJ, they are acting in their own self-interest? Just a thought!!

Are S&P engaged in an Anglo Saxon conspiracy?

Posted 5 months ago #
Stoner - Member

Like a french google, maybe they need to create a french rating agency to balance out the Anglo Saxon conspiracy!

Posted 5 months ago #
binners - Member

TJ - Indeedy-do! I think there may have been some Greek/French/German/Scots luvvin goin down! Very pro-Euro!

If you tell me enough times Stoner, it may sink in

Posted 5 months ago #
Edukator - Member

Don't forget Britain's debt:GDP is about 150% if you include bank bailouts, Markie.

Ce n'est pas du dépit, c'est un sentiment d'injustice face aux annonces partisanes des agences de notation. Un abus de pouvoir des agences qui a peut-être pour origine l'arrestation par la police française d'un chef d'agence ricain. A en croire la presse française.

Posted 5 months ago #
kaesae - Member

Niminee Nominee Naminee poop!!!

Posted 5 months ago #
teamhurtmore - Member

Where is that quote from Edukator?

Posted 5 months ago #
Edukator - Member

It's not a quote, I wrote it.

If your interested in the French view then I suggest reading Les Echos or La Tribune, the equivalents of the FT.

As for the 150%, you'll have to Google it, Madame is calling.

Posted 5 months ago #
binners - Member

My hovercraft is full of eels

Posted 5 months ago #
Stoner - Member

Don't forget Britain's debt:GDP is about 150%

only if you take the bailout investment as gross value, not net (i.e. what paid less what worth now)

Posted 5 months ago #
Stoner - Member

and someone has been kind enough to produce a chart for me

Posted 5 months ago #
oldnpastit - Member

Posted 5 months ago #