Another Euopean Nanny State gets a Credit Downgrade

Discussion in 'News / Current Events' started by carpro, Dec 18, 2011.

  1. carpro

    carpro
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    http://www.guardian.co.uk/world/2011/dec/17/french-credit-ratings-eurozone-crisis

    French credit downgrade could come 'within days'
    Standard & Poor's expected downgrade could create panic in the financial markets and make eurozone crisis even worse

    France could be stripped of its triple-A credit rating before Christmas, raising new doubts about the survival of the euro, analysts have predicted.

    Standard & Poor's – one of the three top rating agencies – is expected to cut France's rating within days, in a move that would weaken its ability to raise funds on financial markets.
     
  2. NiteShift

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    And the French say - hey wait a minute...

    “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 for a potential downgrade of the country’s triple A status.”
     
  3. carpro

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    Funny. I was just a few weeks ago when someone here was extolling the virtues of the French nanny state and claiming they were one of the strongest economies in Europe.

    If they are one of the strongest, it's a very weak bunch.
     
    #3 carpro, Dec 20, 2011
    Last edited by a moderator: Dec 20, 2011
  4. NiteShift

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    And then there was the German politician who complained that the possible credit downgrade of 15 European states was an American plot. This after S&P had already downgraded the US credit rating from AAA to AA+.

    Devil take the hindmost!
     
  5. marke

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    Good insight and post. Good OP also, by the way. Blindness and ignorance are effective tools of the devil in his destructive designs toward all nations. Obama, for example, blames Bush for driving the bus in the ditch when it was, in reality, his own campaign coach, driven by the corrupt political insiders who are ignorant of what the words 'fiscal responsibility' mean. Obama may not have done well in economics 101 in college (if he went to college), but he does have a pretty smile.
     
  6. NiteShift

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    lol...yes he is a great performer.

    Unfortunately most of our political types ignore good sense when it comes to spending. And alot of other things too.
     
  7. NaasPreacher (C4K)

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    So this brings France down to the same level as the US.

    And it still 'may' happen.

    And there is nothing tying the downgrade to being a 'nanny state.'

    What point is trying to be made?

    BTW, while we are on it. Have you found any evidence that Ireland's woes are more to blame on it's being a nanny state as opposed to the evil alliance of Fianna Fail and the land developers during the 90s-00s?
     
    #7 NaasPreacher (C4K), Dec 21, 2011
    Last edited by a moderator: Dec 21, 2011
  8. carpro

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    More on where we are heading if we don't learn by watching European nanny states falter:

    http://paulgregorysblog.blogspot.com/2011/02/can-we-stop-march-to-fifty-percent.html


    http://www.businessinsider.com/countries-most-entitlement-spending-2011-4?op=1

    The Biggest Entitlement Spenders In The World


     
  9. Matt Black

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    :laugh: It's called 'distracting attention from your own problems.' Our deficit is being paid down, France's isn't.
     
  10. NiteShift

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    Yes, it was a matter of "Take him first!"
     
  11. NaasPreacher (C4K)

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    Interesting that the US was downgraded to AA+ before France.
     
  12. marke

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    Excellent post. The people of the world lack wisdom and understanding from God, who has been summarily dismissed from public life by the 'comrade citizens' of the nations of the world. Govts shoot themselves in the foot when they try to solve the problem of poverty in the world without consulting the Lord or His people. The Lord might have well said that He doesn't care if people starve to death if they don't work (2 Thess. 3:10). In trying to solve the problems of poverty the nations of the world have inadvertently fanned the problems of poverty, just as in trying to solve racism they have made the problem worse.

    Human nature is lazy, selfish, jealous, carnal, etc., etc. The only way to solve the problem of national poverty and recession is to get more people working more profitably, which will increase GNP and raise tax revenues. To get more people working and less people on welfare or govt assistance should be a major focal point of every politician seriously interested in salvaging the economy of any nation. In America our 'compassionate laws' for the poor have had the undesired effect of encouraging govt dependence over work, which feeds the problems related to individual poverty as well as national poverty.

    If a person has some kind of personal history of sins which has made him unemployable (drugs, crime, laziness, etc.), that person will not be helped by govt subsidy of his lifestyle, and aiding and abetting of such sloth will not only create these sins' permanancy is such a person's life, the testimony of such 'easy' money will also have the effect of drawing others into the same trap. Those in the ditch of permanent govt support will always be a drain on society, as costs for this kind of support will rise as more workers find ways to drop the 'curse of work' to go on the ease of govt provision. And since all such persons trapped in such dependence on govt support are in poverty, the govt assistance program guarantees by default that those in these programs will always be poor. Salvation is not of the govt, but bondage to poverty is.

    Congress seems also unaware of the negative effect unemployment benefits have on the workforce. These individuals are workers as opposed to those who cannot work and, as such, are needed in the workplace to provide taxable income to the govt, to generate activity in the economy, like buying tools, lunches, cars, trucks, etc. for the purpose of helping them in their work. When workers become unemployed and find ways to live on that unemployment rather than having to go back to work, then the economy suffers from both sides, loss of taxable revenue and increased cost of govt unemployment support.

    Of course not all people are unemployable because of sin and not all workers are taking it easy rather than seriously being motivated to find work, but enough of these kinds of problems are hurting the economy in such a way that soon nobody will be able to get anything from the govt because the govt will simply not have the money to provide those things any longer.
     
    #12 marke, Dec 23, 2011
    Last edited by a moderator: Dec 23, 2011
  13. carpro

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    Not really all that "interesting" at all. The U.S was justifiably downgraded for many of the same reasons, not the least of which is a mountain of unfunded entitlements.
     
  14. glfredrick

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    Still waiting for the first international agency to say the words, "The emperor has no clothes..." Alas, tis true! And once the house of cards falls, the whole world will likely be plunged into a depression akin to the dark ages. :tear:
     

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