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Thread: Furious Russia, Downgraded To Just Above Junk By S&P, Proposes "Scorched Earth"

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    Re: Furious Russia, Downgraded To Just Above Junk By S&P, Proposes "Scorched Earth"

    That's funny aren't they a lendor to the United States - so our creditors credit rating just got trashed? So what happens to ours?

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    Re: Furious Russia, Downgraded To Just Above Junk By S&P, Proposes "Scorched Earth"

    Sure they are furious. But they must have known that the war they are into is between the assets they sell and one of their best customers, while their banking connections are falling under sanctions, that could stop payments. I wouldn't lend them money right now. On the other hand, if full fledged war breaks out with the EU.... 'won't happen, of course, but in 1913 there were an awful lot of statements around Europe that war could not happen too. And we are already in '14.

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    Re: Furious Russia, Downgraded To Just Above Junk By S&P, Proposes "Scorched Earth"

    Uh, interesting blog.

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    Re: Furious Russia, Downgraded To Just Above Junk By S&P, Proposes "Scorched Earth"

    It would be nice if we could stop the pointless dick measuring contests with every asshole country in the world.

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    Re: Furious Russia, Downgraded To Just Above Junk By S&P, Proposes "Scorched Earth"

    Quote Originally Posted by CalGun View Post
    That's funny aren't they a lendor to the United States - so our creditors credit rating just got trashed? So what happens to ours?
    A very small one, yes. They hold but a fraction of the treasuries in circulation. Seeing as their economy is heavily dependent on foreign capital, a trade war would certainly not benefit them. Our credit worthiness won't be adversely affected in the least.

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    Re: Furious Russia, Downgraded To Just Above Junk By S&P, Proposes "Scorched Earth"

    Just for laughs, here's S & P's Sovereign Ratings.

    S&P | Ratings Sovereigns Rating List | Americas

    Whoops. Starts with the last page, so you'll have to back through them if you're interested.

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    Re: Furious Russia, Downgraded To Just Above Junk By S&P, Proposes "Scorched Earth"

    Quote Originally Posted by CalGun View Post
    That's funny aren't they a lendor to the United States - so our creditors credit rating just got trashed? So what happens to ours?
    Thew USA manipulates metals, currencies, credit ratings with our huge US Dollar base. It shouldn't be worth a crap, because of the debt realities and obligations, but so many Nations around the World hold so much US currency that they feel compelled to support it just so they also don't sustain major losses. A genuine currency trap. Like a hot potato and everyone makes sure they don't heat up the potato. That is the threeat right now. Russia will be forced to attack our currency and if China chooses to help with its trillions in surplus and a large portion in US Dollars, we will be in trouble. Otherwise, business as usual, with the Big Corporatist Banks scalping the World.

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    Re: Furious Russia, Downgraded To Just Above Junk By S&P, Proposes "Scorched Earth"

    Here is the story in a more mainstream, less amateurish website: European Stocks Fall in Wake of Russian Downgrade - WSJ.com

    Helps to be able to read about it when written by professionals who are not interjecting their bizarre opinions every other sentence.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: Furious Russia, Downgraded To Just Above Junk By S&P, Proposes "Scorched Earth"

    http://www.bbc.com/news/business-27159423

    Credit ratings agency Standard & Poor's has cut Russia's rating to one notch above "junk" status.

    The move comes as foreign investors continue to take money out of the country amid tensions over the situation in Ukraine.

    S&P downgraded Russia's rating to 'BBB-' from 'BBB'.

    Also on Friday, Russia's central bank raised its key interest rate from 7% to 7.5% as it sought to defend the value of the ruble.

    Capital flight

    Announcing the downgrade, S&P said: "In our view, the tense geopolitical situation between Russia and Ukraine could see additional significant outflows of both foreign and domestic capital from the Russian economy."

    The agency said this could "further undermine already weakening growth prospects".

    It warned that further downgrades were possible if the West imposed tighter sanctions against Moscow.

    Investors have been pulling money out of Russia since last year when the country's economy ran into trouble, but this process has intensified in recent weeks amid concerns over Ukraine.

    In the first three months of this year, foreign investors have withdrawn $63.7bn (37bn) from Russia, and economic growth has slowed significantly - it is expected to grow at no more than 0.5% during 2014.

    Russian shares, which have traded lower this week, fell further following the downgrade, with the MICEX stock index slipping over 1.6% at one stage.

    Russia's central bank said its rate rise was because of a higher inflation risk and the weakness of the ruble. The Russian currency has lost nearly 8% against the dollar this year.

    The bank said its move would enable it to lower inflation to 6% by the end of 2014 and added it did not plan on cutting rates in coming months.

    Russia's Economy Minister Alexei Ulyukayev dismissed S&P's move, saying that "partially, it is kind of a politically motivated decision".

    However, analysts said other credit rating agencies were likely to follow suit.

    "Russia is going backwards as reflected by developments in relations with Ukraine and the West," said Timothy Ash, analyst at Standard Bank.

    He said the move was "bad for investment, bad for capital flows, and bad for broader political, economic reform and institutional reform".
    I have CDO, it's like OCD but the letters are in alphabetical order like they should be.

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