www.moneycontrol.com/news/economy/in-sea...gotshock_697486.html


S&P credit analyst Takahira Ogawa listened politely as officials at India's finance ministry made an hour-long pitch for a ratings upgrade, citing economic growth prospects, revenues and their efforts to contain the government's fiscal deficit.
It seems that the officials at the presentation ruined their case with some freudian slip and this is what happened later...

On Wednesday, the ratings agency cut its outlook on India's BBB- rating to negative from stable and warned it had a one-in-three chance of losing investment-grade status, sending shockwaves through the ministry.

On a more serious note, it seems that India is being punished for still trading with Iran ?

samix wrote:
www.moneycontrol.com/news/economy/in-sea...gotshock_697486.html


S&P credit analyst Takahira Ogawa listened politely as officials at India's finance ministry made an hour-long pitch for a ratings upgrade, citing economic growth prospects, revenues and their efforts to contain the government's fiscal deficit.
It seems that the officials at the presentation ruined their case with some freudian slip and this is what happened later...

On Wednesday, the ratings agency cut its outlook on India's BBB- rating to negative from stable and warned it had a one-in-three chance of losing investment-grade status, sending shockwaves through the ministry.

On a more serious note, it seems that India is being punished for still trading with Iran ?

Thanks for the post Samix!

There are NUMEROUS interesting angles to this little blurb - including your insightful suggestion that this is "punishment" towards India for "trading with the enemy" (just like Prestcott Bush - lol!!).

Let's start with the facts. Yes, India does have a (genuinely) growing economy AND there is huge growth POTENTIAL. Against that we see:

1) A government with a moderate debt problem but a SERIOUS deficit problem.
2) A nation with very unequal wealth distribution, most particularly too many poor (while the very rich have MUCH too much).
3) Ethnic strife.
4) A HUGE government (for a huge population) which is bogged down by gridlock due to its bureacratic size, constant squabbling, and corruption.

And so based on those factors S&P down-graded India's credit rating to BBB-.

Then there is the United States.



With the United States we see a nation with a SHRINKING economy, and where the only "potential" for the future is debt-default and economic collapse. Along with that we see:

1) A government with a GIGANTIC debt problem and a GIGANTIC deficit problem.
2) A nation with very unequal wealth distribution, most particularly too many poor (while the very rich have MUCH too much).
3) Ethnic strife.
4) A HUGE government (for a large population) which is TOTALLY FROZEN by gridlock due to its bureacratic size, constant squabbling, and RAMPANT corruption.

Ironically, S&P was "punished" for taking the U.S.'s credit-rating ONE notch below AAA (and so now it is a dutiful lackey), while the other two fraudulent Western credit rating agencies (Moody's and Fitch) still have the U.S. as AAA.

The UK also has a shrinking economy (even with the OFFICIAL fake numbers), it has a huge debt problem, and recently recorded its worst one-month deficit in history - even as its "austerity" begins its second year. The UK has a AAA rating.

Does anyone see any signs of a DOUBLE-STANDARD here...?



Of course Greece and Spain and Ireland and Italy and Portugal and NUMEROUS Eastern European nations could make exactly the same complaint - so don't take it as a RACIAL bias.



P.S. I almost forgot to note that India's economy doesn't have the MASSIVE "drag" that comes from building and maintaining the largest war machine in the history of humanity.

samix wrote:


...On a more serious note, it seems that India is being punished for still trading with Iran ?

I droned on so long about my own observations I thought I would reply to Samix's point separately.

I don't think that there is any doubt that this is (subtle, blatant?) punishment for India defying the Fascists and continuing to do business with Iran. And once again we see my theme about the inherent short-sighted behavior of Evil - which always wants its own way NOW.

What is the inevitable result of punishing India in this manner? More anger and resentment toward the West. That in turn will translate into MORE acts of defiance, including a FASTER transition away from the fraudulent/worthless USD - which will hurt the Fascists MORE than there vindictive acts of punishment toward India.

And let's see "who HURTS who" should the Fascists DARE to try to throw their weight around with China...