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The 11 Countries That Still Have Perfect Credit

KevinKohler said:
I was gonna say the same thing. When Nixon took us off gold, was that not a default, in essence? A big middle finger to all foreign holders of US debt...
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My small index finger points back. Put your house in order.
 
RDS said:
I can understand how you guys feel when you are not among the 11 countries.
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Doesn't it feel great to be in one of those eleven countries.
 
KevinKohler said:
I was gonna say the same thing. When Nixon took us off gold, was that not a default, in essence? A big middle finger to all foreign holders of US debt...
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Technically no, since it was a 1 for 1 swap. Default happens when you dont meet the conditions of the contract on time and to the full conditions. It does not matter if you later then pay off the debt, you have still technically defaulted. This happened in 1979 for example... the US was late due to a shutdown in paying back a few 100 million in debt.
 
RDS said:
Singapore rocks too.
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All those countries have quite impressive economies but judging them through the opinions of credit rating agencies seems an odd criterion to use. Those rating agencies are notoriously biased judges. The impressive stats provided are more relevant i.e. unemployment rates, if they can be believed, might be relevant. Growth rates are interesting too, except that two of those paragons of economic propriety, according to the quoted stats, are in recession, with negative growth. You picks your metric, you takes your choice.
 
Ha! Eleven tiny little countries. How much would any of them ever need to borrow - $500.00? A thousand?

What's the difference what their credit rating is?
 
Ray410 said:
Ha! Eleven tiny little countries. How much would any of them ever need to borrow - $500.00? A thousand?

What's the difference what their credit rating is?
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Germany, Canada and Australia? Fourth, 11th and 12th largest economies in the world? Hardly tiny.
 
zgoldsmith23 said:
Seems some of us look on a larger scope and aren't one-track minded. :shrug:
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Population control is a key tool in controlling or at least heavily influencing said economy. Look at the countries that do/did it. It's effective.
 
Woo were number 2
Also according to the link were the 5th best country to grow old in
 
But all them flab-danged countries on that list are them stinkin SOCIALIST commie-pinko type countries.

They can't be number one at anything other than "steal from the rich and give to the poor" wealth redistribution.

Why......they have socialized medical programs for christ's sakes. I mean....we all know how EVIL that is.

I claim there's a biased source for all this idiocy.

Damn SOCIALISTS are the Devil's spawn.....next thing you'll be posting is they're also the happiest people in the world as well....and best educated too.....




wait....what?????????
 
This list is a little bit deceiving. Just because credit rating is good an GDP is nominal does not mean that the people in those countries necessarily have a better way of life.

For example, Canada has a perfect credit rating but the only thing preventing it from joining the recession in the United States is its natural resource development, which is in turn causing vast, vast environmental problems and political conflicts.

The higher a country's GDP is, the higher the economic disparities tend to be.
 
PeteEU said:
Technically no, since it was a 1 for 1 swap. Default happens when you dont meet the conditions of the contract on time and to the full conditions. It does not matter if you later then pay off the debt, you have still technically defaulted. This happened in 1979 for example... the US was late due to a shutdown in paying back a few 100 million in debt.
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Actually, it was a default as the US unilaterally canceled the direct convertibility of the United States dollar to gold. When the US decided to stop payment in gold (which was a legal contract), they put lipstick on the pig and told Americans that America wasn't abandoning its commitment but rather saving Americans from the greedy European price gougers.
 
imagep said:
Since the US has never defaulted on treasury debt, I would suggest that the US does have perfect credit, and the rating agencies are full of crap.

Usually, when we say that someone has "less than perfect credit", we mean that at some point they defaulted.
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Not true.
Germany has defaulted. It has AAA rating. Last default was 1948.
UK has defaulted. It has AAA rating. Last default was 1932.
Denmark, Sweden and Netherlands have defaulted.. AAA raiting. Last default was 1812-1814.

Hell, Ireland never has "technically" defaulted either.. but it's sitting a BBB+ rating.

And the US has defaulted 6 times in history.
 
azgreg said:
11 countries that don't try to be the world's cop.
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No doubt you'd bitch if we stopped, and so would many once they see what that really means. In a general sense I don't believe we should either, but changing the status quo will probably mean more significant change than you know.
 
zgoldsmith23 said:
I'd say it has to do more with their banking, trading, lower taxation rates, skilled work force, freer economy, and the fact that MAS does not regulate their monetary system through interest rates. But if you want to go for abortion, I guess go for it?
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And the fact that the government HUGELY subsidises the economy and ivests heavily in it's industry, as well has having giant holdings in the economy.
 
Ray410 said:
Ha! Eleven tiny little countries. How much would any of them ever need to borrow - $500.00? A thousand?

What's the difference what their credit rating is?
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Canada? Australia? Germany? Did you read the list?
 
American said:
No doubt you'd bitch if we stopped, and so would many once they see what that really means. In a general sense I don't believe we should either, but changing the status quo will probably mean more significant change than you know.
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Not really .... The US doesn't really defend countries as much as it does bully much smaller countries that arn't really threatening anyone ....

Iraq wasn't threatening anyone, neither was El Salvador, Nigeragua, Vietnam and so on ... the US isn't the world cop at all.
 
Northern Light said:
This list is a little bit deceiving. Just because credit rating is good an GDP is nominal does not mean that the people in those countries necessarily have a better way of life.

For example, Canada has a perfect credit rating but the only thing preventing it from joining the recession in the United States is its natural resource development, which is in turn causing vast, vast environmental problems and political conflicts.

The higher a country's GDP is, the higher the economic disparities tend to be.
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Banking regulations made a huge difference in Canada and other countries too. Having a banking system that was on fairly solid ground helped to avoid the big meltdown.
 
RGacky3 said:
Not really .... The US doesn't really defend countries as much as it does bully much smaller countries that arn't really threatening anyone ....

Iraq wasn't threatening anyone, neither was El Salvador, Nigeragua, Vietnam and so on ... the US isn't the world cop at all.
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Iraq? Tell that to the Kuwaiti's and the 50 Norwegian's who participated in the coalition.
 
AliHajiSheik said:
Iraq? Tell that to the Kuwaiti's and the 50 Norwegian's who participated in the coalition.
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Iraq wasn't a threat to Kuwait in 2004, and the 50 Norwegians doesn't change anything ....
 
RGacky3 said:
Iraq wasn't a threat to Kuwait in 2004, and the 50 Norwegians doesn't change anything ....
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You didn't say 2004. In 2004, Iraq was in violation of the cease fire agreement, but that doesn't really help the point you are attempting to make.
 
A Monetarily Sovereign nation that issues its own floating currency, denominates all its debts in its currency & imposes taxation payable only in its currency, can NEVER involuntarily default or "go broke".
It is always able to make payment.
 
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