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Turkey Downgraded by Credit Rating Agency

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Re: Turkey Downgraded by Credit Rating Agency

Postby repulsewarrior » Thu May 03, 2012 10:22 pm

...oh wait, he was misquoted; when his shit hits the fan.
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Re: Turkey Downgraded by Credit Rating Agency

Postby Jerry » Thu May 03, 2012 11:19 pm

Never mind, the credit rating may have gone down but the inflation rate has gone up, no doubt Einstein Erdo will figure that one balances out the other. :lol: :lol: :lol:
http://www.todayszaman.com/news-279283- ... rkets.html
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Re: Turkey Downgraded by Credit Rating Agency

Postby bill cobbett » Fri May 04, 2012 12:42 am

Oh, forgot to tell you lot that the same credit rating agency S&P have upgraded the rating for Greece...

... and Mad Dog Erdogan had this to say about the upgrade...


... "Erdogan adds that downgrading ratings of Turkey while upgrading Greece was "ridiculous."
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Re: Turkey Downgraded by Credit Rating Agency

Postby repulsewarrior » Fri May 04, 2012 12:57 am

...inflation is very much a taxation on the poor. tomatoes, i don't know what that says, but oil is being heavily subsidised by the State, and it does not bode well when its price is dropped as a reaction to a problem which as yet is ill defined. brewing is a crisis that can be delayed, Erdogan hopes. War of course is his alternative, Turkey, that is to say these "Turks" can be given their tribute in whatever they ask (the rest of us will find a way), and if not the cost is an end to the supremacy of the Rule of Law as we know it. mini USA, better than the kid jrbush, too big to fail, that will be shock and awe otherwise, no more an ally with the west, who will join against; all this anywhere but their own soil. he ignores the Arab Spring's motives at his peril, now across his own borders. while he remains at this impasse he has power, soon he is next.
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Re: Turkey Downgraded by Credit Rating Agency

Postby dinos » Fri May 04, 2012 4:13 am

Just taking an opportunity to remind everyone that the ratings agencies with their pay-for-ratings business models, have rendered themselves moot. Whether it's Spain, Italy, Turkey or the US, they aren't telling people anything they haven't already known for quite some time. Aside from the potential for a small amount of short-term volatility, they are irrelevant and have no influence on markets whatsoever.
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Re: Turkey Downgraded by Credit Rating Agency

Postby CBBB » Fri May 04, 2012 5:35 am

dinos wrote:Just taking an opportunity to remind everyone that the ratings agencies with their pay-for-ratings business models, have rendered themselves moot. Whether it's Spain, Italy, Turkey or the US, they aren't telling people anything they haven't already known for quite some time. Aside from the potential for a small amount of short-term volatility, they are irrelevant and have no influence on markets whatsoever.


Tell that to the countries that have been downgraded and then explain to them why they have to pay exorbitant interest rates to borrow money.
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Re: Turkey Downgraded by Credit Rating Agency

Postby kurupetos » Fri May 04, 2012 1:07 pm

bill cobbett wrote:Oh, forgot to tell you lot that the same credit rating agency S&P have upgraded the rating for Greece...

... and Mad Dog Erdogan had this to say about the upgrade...
... "Erdogan adds that downgrading ratings of Turkey while upgrading Greece was "ridiculous."

The Jews know how to pull the strings... George Soros will be making a good profit out of the upgrades/downgrades.

"The fundamental problems have not been resolved; indeed, the gap between creditor and debtor countries continues to widen," billionaire investor George Soros recently wrote in the Financial Times. "The crisis has entered what may be a less volatile but more lethal phase."


http://moneymorning.com/2012/05/03/why- ... went-away/
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Re: Turkey Downgraded by Credit Rating Agency

Postby GreekIslandGirl » Fri May 04, 2012 6:47 pm

"Which is why U.S. investors need to remain wary of Europe."

Here's hoping for a downgrade of the troublesome Dollar (and concomitant worries to its allies/dependents, the enemies of the EU, such as UK and Turkey) and a long-awaited upsurge of the Euro.

- Onward for the new Superpower; the EU! ~ Shown the way by vanguard Greece. :D

(Those anti-Greeks, who just a few months ago were jumping on the bandwagon to mouth-off against Greece, seem strangely silent :) )
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Re: Turkey Downgraded by Credit Rating Agency

Postby repulsewarrior » Fri May 04, 2012 7:01 pm

kurupetos wrote:
bill cobbett wrote:Oh, forgot to tell you lot that the same credit rating agency S&P have upgraded the rating for Greece...

... and Mad Dog Erdogan had this to say about the upgrade...
... "Erdogan adds that downgrading ratings of Turkey while upgrading Greece was "ridiculous."

The Jews know how to pull the strings... George Soros will be making a good profit out of the upgrades/downgrades.

"The fundamental problems have not been resolved; indeed, the gap between creditor and debtor countries continues to widen," billionaire investor George Soros recently wrote in the Financial Times. "The crisis has entered what may be a less volatile but more lethal phase."


http://moneymorning.com/2012/05/03/why- ... went-away/


...in a kernel kurupetos, your replies are Erdogan's cards, at least the ones he will eventually play if their economy fails: Jews, and usury.

...@ Ms. G, in the scheme of things it is the Middle Countries that are competing to change from a US$ standard for world trade to something else. the Euro competes for this position by its mass independent from this upcoming force, the Yen though in these terms is larger still because of its potential; indeed a Euro upsurge would be nice about now. Greece has a long way to go, only at the advent with election results in a few days.
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Re: Turkey Downgraded by Credit Rating Agency

Postby bill cobbett » Fri May 04, 2012 9:50 pm

Turkey Stock Exchance Slumps

The Turkish Sock Exchange suffered its worst week in two months in the wake of the downgrading by S&P, falling 2.6%, with some stocks slumping by 10%-16%.

Bloomberg reports...

The benchmark ISE National 100 Index fell 2.6 percent in the week to 59,015.69 at the close in Istanbul, its biggest 5- day loss since March 9. Small and medium-sized companies led losses, with fertilizer maker Ege Gubre Sanayii (EGGUB) dropping 16 percent, tire producer Goodyear Lastikleri Turk AS (GOODY) slumping 10 percent and clothing retailer Boyner Buyuk Magazacilik AS (BOYNR) sinking 9.6 percent.
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