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View Diary: Market Humiliates S&P — Rejects Downgrade (266 comments)

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  •  HLMGTFY (0+ / 0-)

    Honestly, I am surprised you don't know France's rating if you've been arguing with such ferocity and so many absolute statements. France is rated AAA.

    http://en.wikipedia.org/...

    Japan is AA-, two notches below the USA's new AA+ rating.  Japan has a lot of good things going for it, but it does have a lot of debt and a weak economy.

    Kuwait is an AA.  Off the top of my head, I'd guess Kuwait doesn't get AAA because it's between Saudi Arabia and Iraq.  They certainly aren't short of cash, but their physical location is risky.

    South Korea is several notches lower, at A.  Again, I suspect that's a physical location risk thing rather than a purely financial risk rating.

    New Zealand is AA+, like the USA.  I don't know why they aren't AAA, but they're an example of a first-world economy that isn't AAA.

    Argentina, which defaulted several years ago, is rated a "B."  That's below the BB and BBB tiers, as well as the A, AA, and AAA tiers.

    No on Prop 8::Sometimes I get to hitch a ride on the Democratic Bus--they let me stand on the back bumper.

    by steve04 on Mon Aug 08, 2011 at 01:16:03 PM PDT

    [ Parent ]

    •  I did (0+ / 0-)

      I'm surprised you did not recognize my sarcasm.

      I am done with this discussion.

      •  Ahh, I get it. (0+ / 0-)

        France is the single anecdote, based on debt to GDP, that is being used to illustrate how universally wrong S&P is.  Perhaps France should also be AA+ rather than AAA.  I haven't made a study of it, but I do know that the S&P ratings are based on the complete picture, not just debt to GDP.  France has much better infrastructure.  Unemployment is very slightly worse than ours.

        Italy has an A+ rating, a higher debt to GDP ratio, and Berlusconi in charge.

        http://en.wikipedia.org/...

        No on Prop 8::Sometimes I get to hitch a ride on the Democratic Bus--they let me stand on the back bumper.

        by steve04 on Mon Aug 08, 2011 at 01:58:33 PM PDT

        [ Parent ]

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