Death Star Economics

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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

Rated M for ‘mediocracy’

Recap of Friday the 13th (well chosen date, S&P): Standard&Poor’s cut the ratings of 9 European countries, most notably France. After hearing rumors about the downgrade (there was that accidental downgrade alert that was sent out by S&P in November) for so long, this is an almost anticlimactic development. It’s unlikely that Europe will go mental about it. The other downgraded countries are Italy, Portugal, Spain, Cyprus, Austria, Malta, Slovakia and Slovenia. Next in line might be the EFSF, the European Financial Stability Facility, or even Germany. read article

On that note, the Economist shows that while that whole eurozone idea first increased the number of shiny AAA-rated countries in Europe [to 8 by 2005], the current trend points towards more average ratings. Since Friday, there are 4 countries each rated AAA, AA and A. read article

But if you’re sick and tired of having letters thrown at you, here’s the global ratings by Fitch, Moody’s and S&P on a map (via the Guardian data blog). view chart

And in case you want to argue about the above [or anything else for that matter] with your economist of choice, here are some guiding principles on how to win the debate. read article

Finally, there’s another very popular topic of discussion out there: private equity. Private equity and Mitt Romney. Private equity and Mitt Romney and why a business man shouldn’t run a country on moral grounds. Excuse me, but I always thought the legal professions were trusted the least in the public eye… ever noticed how many politicians are lawyers? (And don’t say “that’s why I hate politicians,” it’s a stupid argument.) Anyway, the Epicurean Dealmaker got a bit pissed off at an article in the Washington Post and responded with a reality check. read article

So long.

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