Community Views : What’s on the boards today….16th March 2011

16th March 2011

The Telegraph

"Moody's downgrades Portugal debt rating"

haunebu writes: "our entire financial system is based on a lie…its 100% corrupt…its ONLY purpose is to transfer wealth from the working man to the robber classes…we are basically slaves.."

On the Guardian

Halo572 is disagreeing with the general consensus of the rest of the community: "'Why does anybody care what Moody's say given that they completely failed to assess and predict the financial crisis?'" How many billions of times has this comment ever been posted across the Internet? The answer is because no matter how broken the economic system is they have no new one to cope with the world as it now is. The bland, unimaginative, highly unskilled and incompetent economic 'scientists' can't cope with their perfect capitalist model not working, so just carry on with it like a car with a broken axle just grinding along with their foot on the accelerator. Therefore, what Moody's says is very important as it always supposedly was, despite the fact they have no idea what they are talking about and never did. You also have to allow for blind greed, that stopped any of them seeing that it was all going wrong. If there is a sovereign debt crisis, just get it over and done with this has been going on for years and is seriously boring."

Credit Writedowns has also covered this.

The Telegraph

"Twin threats of Japan and Gulf stalk global recovery. As catastrophe at home prompts Japan to repatriate chunks of its vast wealth, it is pulling the rug from under stock and bond markets thousands of miles away."

calvin_attwood comments: "Ambrose quotes "People had thought global recovery was self-sustaining…."

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