Chinese Whispers



China had its credit rating dropped by S&P in the last couple of days….the BBC barely mentioned it despite China being the driving force behind the world economy …however Moody’s has downgraded the UK’s rating and that was big news….’#duetobrexit’ of course.

The irony is that Moody’s told the BBC that it had downgraded Britain’s rating because of a ‘looser fiscal framework’ being adopted….ie we are going to spend more and not cut the debt…we are going to abandon austerity.  So the BBC is warning us about this ‘alarming’ economic news and yet it is because the Government is abandoning the hated austerity that the BBC has fought against for the past 7 years.

Always amused, sort of, to hear Labour attack austerity and in the same breath attack the government for not having got debt down….the BBC never notices the paradox….it just campaigns for more money for everything as if there were some magic money tree.




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2 Responses to Chinese Whispers

  1. charmbrights says:

    There is a magic money tree – and only the Labour party has access to it. I know because the BBC told me.


  2. chrisH says:

    Noted the BBC more than happy to give China a free pass in regard of its buying up of Imagination Tech-which(by all accounts) is one of the few British success stories in the world of chip and pin technologies. Like Osborne putting us in hock to Chinese nuclear power fundings-this is a very serious breach of our security, and all for a few short term, off-books accounts by the Tories.
    I don`t blame China-all they`re doing is buying up stuff on the cheap as they`ve been doing in Zambia and all of Africa for yonks now-but why are we allowing this?
    I only mention it because the BBC said that “Donald Trump refused the buy out”…and therefore(to the BBC idiots) this could only be a good thing.
    Actually it was the US State Department-their government-not Trump-who vetoed this. But that was lost on the BBC Business news eejit at 7.20 this morning on radio 4.
    If the BBC HAVE to spout on business-might they not be expected to at least be honest and clear in their citing of facts…because Trump says it-well that`s no argument. Especiually when he didn`t even say it!