Australian Politics Forum - Labor's treachery lowers AAA credit rating

juliar

Gold Member

Offline

Australian Politics

Posts: 22966

Labor's treachery lowers AAA credit rating
Jul 7^th, 2016 at 12:55pm

This is what Labor's slime and negativity has done to Australia.

Credit rating a reality check: Morrison
Published: 12:47 pm, Thursday, 7 July 2016

Standard & Poors have lowered Australia's triple-A credit rating from stable to negative.

Standard Poor's has placed Australia's triple-A credit rating on negative outlook, suggesting the uncertain election outcome is likely to result in a longer run of budget deficits.

The agency has lowered its outlook from stable to negative, and said there is a one-in-three chance the rating could be lowered within two years if measures to improve the budget position are not passed by parliament.

'The negative outlook on Australia reflects our view that prospects for improvements in budgetary performance have weakened following the recent election outcome,' SP said in a statement.

Treasurer Scott Morrison says Standard Poor's has given Australia a reality check that the new parliament must heed.

'That means that we believe that fiscal consolidation cannot be postponed or slowed,' Mr Morrison told reporters in Sydney on Thursday.

AAP

http://www.skynews.com.au/news/politics/federal/2016/07/07/credit-rating-a-reali...

Back to top

« Last Edit: Jul 7^th, 2016 at 7:01pm by juliar »

IP Logged

Vic Gold Member Offline Australian Politics Posts: 8394 Melbourne Victoria Gender:	Re: Labor's treachery lowers AAA credid rating Reply #1 - Jul 7^th, 2016 at 12:58pm Something we all worked hard to achieve, now blown away by the inept Hockey and Morrisson No wonder the good people of Australia voted so hard against Mal and his Cronies.
Back to top	Football, Meat Pies, Kangaroos and Liberal Lies Football, Meat Pies, Kangaroos and Liberal Lies IP Logged

juliar Gold Member Offline Australian Politics Posts: 22966	Re: Labor's treachery lowers AAA credid rating Reply #2 - Jul 7^th, 2016 at 1:01pm Now be honest it was the six sick shocking years of shame, waste and disgrace of the Krudd/Gillard/Krudd abortion with the "help" of the HATE Australia Greenies that caused it all.
Back to top	IP Logged

John Smith Gold Member Offline Australian Politics Posts: 77732 Gender:	Re: Labor's treachery lowers AAA credid rating Reply #3 - Jul 7^th, 2016 at 1:03pm friggen retarded libs couldn't organise a root in a brothel it took labor a lot of hard work to get that AAA rating ... dumb libs throw it all away
Back to top	Our esteemed leader: I hope that bitch who was running their brothels for them gets raped with a cactus. IP Logged

juliar Gold Member Offline Australian Politics Posts: 22966	Re: Labor's treachery lowers AAA credid rating Reply #4 - Jul 7^th, 2016 at 1:06pm Mr Smith what have you been taking ?
Back to top	IP Logged

philperth2010

Gold Member

Offline

Australian Politics

Posts: 21092
Perth
Gender: male

Re: Labor's treachery lowers AAA credid rating
Reply #5 - Jul 7^th, 2016 at 1:10pm

Quote:

Treasurer Scott Morrison says Standard Poor's has given Australia a reality check that the new parliament must heed.

'That means that we believe that fiscal consolidation cannot be postponed or slowed,' Mr Morrison told reporters in Sydney on Thursday.

Morrison is already sewing the seeds of another 3 years on inaction which he will blame on the Senate for not passing the Coalitions broken promises....If the AAA credit rating is lost it will be Turnbull and Morrison who must take responsibility!!!

Huh

Back to top

If knowledge can create problems, it is not through ignorance that we can solve them.
Isaac Asimov (1920 - 1992)

IP Logged

juliar Gold Member Offline Australian Politics Posts: 22966	Re: Labor's treachery lowers AAA credid rating Reply #6 - Jul 7^th, 2016 at 1:18pm When you start with Australia on the brink of collapsing into the depths of six years of Socialist chaos and then the mining export boom dries up and you are stopped by unelected ferals from recovering Australia then this is what you end up with.
Back to top	IP Logged

philperth2010

Gold Member

Offline

Australian Politics

Posts: 21092
Perth
Gender: male

Re: Labor's treachery lowers AAA credid rating
Reply #7 - Jul 7^th, 2016 at 1:20pm

juliar wrote on Jul 7^th, 2016 at 1:18pm:

When you start with Australia on the brink of collapsing into the depths of six years of Socialist chaos and then the mining export boom dries up and you are stopped by unelected ferals from recovering Australia then this is what you end up with.

"credid rating"....

Smiley

Back to top

If knowledge can create problems, it is not through ignorance that we can solve them.
Isaac Asimov (1920 - 1992)

IP Logged

PZ547

Gold Member

Offline

Australian Politics

Posts: 9282
Gender: male

Re: Labor's treachery lowers AAA credid rating
Reply #8 - Jul 7^th, 2016 at 1:21pm

AA: An obligor rated 'AA' has very strong capacity to meet its financial commitments. It differs from the highest-rated obligors only to a small degree Wiki

The move leaves Australia's AAA credit rating intact but is a formal warning from S&P that it could be cut if the nation's budget position does not improve.

"There is a one-in-three chance that we could lower the rating within the next two years if we believe that parliament is unlikely to legislate savings or revenue measures sufficient for the general government sector budget deficit to narrow materially and to be in a balanced position by the early 2020s," S&P said in a statement explaining its decision.
http://www.abc.net.au/news/2016-07-07/australian-credit-rating-put-on-negative-watch/7576714

Back to top

All my comments, posts & opinions are to be regarded as satire & humour

IP Logged

juliar Gold Member Offline Australian Politics Posts: 22966	Re: Labor's treachery lowers AAA credid rating Reply #9 - Jul 7^th, 2016 at 1:27pm If Shorty got in it would not be just a warning it would be an immediate lowering of Australia's credit rating.
Back to top	IP Logged

PZ547 Gold Member Offline Australian Politics Posts: 9282 Gender:	Re: Labor's treachery lowers AAA credid rating Reply #10 - Jul 7^th, 2016 at 1:29pm juliar wrote on Jul 7^th, 2016 at 1:27pm: If Shorty got in it would not be just a warning it would be an immediate lowering of Australia's credit rating. Never thought I'd find myself saying this, but right now, I think I'd back Shorten and crew over Morrison
Back to top	All my comments, posts & opinions are to be regarded as satire & humour IP Logged

Honest Joe

Full Member

Offline

Australian Politics

Posts: 180
Gender: male

Re: Labor's treachery lowers AAA credid rating
Reply #11 - Jul 7^th, 2016 at 4:55pm

Vic wrote on Jul 7^th, 2016 at 12:58pm:

Something we all worked hard to achieve, now blown away by the inept Hockey and Morrisson No wonder the good people of Australia voted so hard against Mal and his Cronies.

I think people are beginning to realise that our internal economics have external factors. Take for instance, people thought Howard was a good economic manager for years which was without realising that the world collectively was in an upturn.
The world wide economy ebbs and flows but notice how Australia flowed while most of the world ebbed under Gillard and Rudd with a consequent credit rating upgrade of AAA+ with a stable outlook.
Unsurprisingly Australia is ebbing with the rest of the world under the Libs. They've got no idea how to keep our heads above water and therefore the possibility of having a potential downgraded credit rating.

Back to top

IP Logged

Lobo

Gold Member

Offline

Australian Politics

Posts: 7407
Sydney
Gender: male

Re: Labor's treachery lowers AAA credid rating
Reply #12 - Jul 7^th, 2016 at 6:47pm

Honest Joe wrote on Jul 7^th, 2016 at 4:55pm:

Vic wrote on Jul 7^th, 2016 at 12:58pm:

Something we all worked hard to achieve, now blown away by the inept Hockey and Morrisson No wonder the good people of Australia voted so hard against Mal and his Cronies.

I think people are beginning to realise that our internal economics have external factors. Take for instance, people thought Howard was a good economic manager for years which was without realising that the world collectively was in an upturn.
The world wide economy ebbs and flows but notice how Australia flowed while most of the world ebbed under Gillard and Rudd with a consequent credit rating upgrade of AAA+ with a stable outlook.
Unsurprisingly Australia is ebbing with the rest of the world under the Libs. They've got no idea how to keep our heads above water and therefore the possibility of having a potential downgraded credit rating.

Back to top

Three_X_3xA_ratings_.png (59 KB | )

"What's in store for me in the direction I don't take?"-Jack Kerouac.

IP Logged

perceptions_now

Gold Member

Offline

Australian Politics

Posts: 11694
Perth WA
Gender: male

Re: Labor's treachery lowers AAA credid rating
Reply #13 - Jul 7^th, 2016 at 6:52pm

I re-post the following here, as it is relevant!

As can be seen, there are many other major Economies, whom have a greater Debt to GDP ratio, than does Australia.

It is also worth noting the following Movement in the OZ Debt to GDP ratio, as per Trading Economics, over recent years -

2007 - 9.7%
2208 - 11.7%
2009 - 16.7%

2010 - 20.5%
2011 - 24.24%
2012 - 27.9%

2013 - 30.09%

2014 - 34.1%
2015 - 36.8%

http://www.tradingeconomics.com/australia/government-debt-to-gdp

It should also be noted that all governments (Right, Left & Centre), have relied on the capacity to get out of the usual Down parts of the Economic cycle, by Stimulating economies, in some way, shape or form.

In the current instance, Both Liberal & Labor are introducing their "standards", But given the once in history set of factors now involved Globally, these will not work.

Both Political Party's & their advisors should be aware of what is happening, as all they need do, for confirmation is look at Japan.
But, the Politicians are either not aware (which is unlikely) OR they are concentrating on other issues, such as their own short term interests & not the long term interests of the whole Population!

In any event, the usual "Fixes" won't work, so what MUST HAPPEN, is a mixture of -
1) Tightening Tax Loopholes & raising some Taxes.
2) Tightening Expenditure Loopholes & lowering some Expenditure allowances.

Above all, these measures MUST BE FAIR or the Demand/Supply Economy will dive Sharper & quicker, than it otherwise will!

In any event, I can't see the Pollies taking any notice, without being "put on notice", so it's time to send these Pollies a message, a BIG message -
VOTE OUT EVERY INCUMBENT!!!
It is the only thing they MAY understand, in that it is a direct message which threatens their "cosy in-house arrangement"!!!

Keep the bastards honest?
Yeah, kick them out!!!

perceptions_now wrote on Jun 29^th, 2016 at 3:10pm:

For purpose of COMPARISON, following are some of the MAJOR WORLD ECONOMIES (+ a few others), listed by their Debt to GDP Ratio (from Highest & Decending) & by the 3 major Credit Ratings agencies, via Trading Economics -
Country; Debt to GDP ; Credit Rating by - S&P Moody's Fitch

Japan       229%                                        A+ Stable A1 Stable A Negative

Greece    177%                                        B- Stable Caa3 Stable CCC N/A
Italy       133%                                        BBB- Stable Baa2 Stable BBB+ Stable
Singapore 105%                                        AAA Stable Aaa Stable AAA Stable

USA          104%                                        AA+ Stable Aaa Stable AAA Stable

Spain       99%                                           BBB+ Stable Baa2 Stable BBB+ Stable
France    96%                                           AA Negative Aa2 Stable AA Stable

Canada    91%                                           AAA Stable Aaa Stable AAA Stable

UK 89% AA Negative Aa1 Negative AA Negative

Euro Union 85% AA+ Negative

Germany 71%                                           AAA    Stable Aaa Stable AAA Stable

India       67%                                           BBB- Stable Baa3 Positive BBB- Stable
Vietnam 51%                                           BB- Stable B1 Stable BB- Stable
South Africa 50%                                        BBB- Negative Baa2 Negative BBB- Stable
China       44%                                           AA- Negative Aa3 Negative A+ Stable
Australia 37%                                           AAA Stable Aaa Stable AAA Stable
South Korea 35%                                        AA- Stable Aa2 Stable AA- Stable
Norway    32%                                           AAA Negative Aaa Stable AAA Stable
Taiwan    32%                                           AA- Stable Aa3 Stable A+ Positive
New Zealand 30%                                     AA Stable Aaa Stable AA Stable
Indonesia 27%                                           BB+ Positive Baa3 Stable BBB- Stable
Russia    18%                                           BB+ Negative Ba1 Negative BBB- Negative

Kuwait    7%                                           AA Stable Aa2 Negative AA Stable
Saudi Arabia 2%                                        A- Stable A1 Stable AA- Negative


http://www.tradingeconomics.com/country-list/government-debt-to-gdp

http://www.tradingeconomics.com/united-states/rating

So, can anyone see a "Few" inconsistencies?
I would suggest that the "Credit Rating Agencies" MAY WELL be more a part of the Problem, than the solution!

Oh & btw, it has been "disclosed/suggested" recently that Australia MAY lose its AAA rating, despite having a Debt to GDP ratio, which is quite low compared to many others!
Go Figure???

Back to top

IP Logged

juliar

Gold Member

Offline

Australian Politics

Posts: 22966

Re: Labor's treachery lowers AAA credit rating
Reply #14 - Jul 7^th, 2016 at 7:13pm

As per usual the Lefties trot out the Lefty propaganda about the Debt to GDP ratio to try to divert the real discussion.

The whole issue is if a govt borrows foreign money then they responsibly spend it on infrastructure which allows Australian industry to operate more efficiently.

But the willfully incompetent Socialist Krudd/Gillard/Krudd vandals borrowed a GIGANTIC amount of foreign money and WASTED THE LOT ON SOCIALIST STUPIDITY!!!!!!

So they left NO NEW INFRASTRUCTURE to show for it.

This is neglect of duty on a truly shocking criminal scale but then everyone knows Labor is a bunch of lying brown nosing grossly incompetent economic vandals.

Back to top

IP Logged