american credit rating downgraded

[abcdef]

http://www.reuters.com/article/2011/08/0...VF20110806

[SassyAnn]

It'll be interesting to see what sort of impact that is going to have. Some of the analysts are talking down the impact already.

Plus the European debt crisis is getting worse.

[abcdef]

my OH thinks there could be another depression

[darkstranger]

I have heard that in Italy most people are only doing cash transactions because they think that the banks will go tits up if Italy defaults.

[MichelleSins]

I have heard that in Italy most people are only doing cash transactions because they think that the banks will go tits up if Italy defaults.

Sounds like the Italians have taken a leaf out of the Escorting Code of Practice!!! lol ;-) x x

[doctorcat]

my OH thinks there could be another depression

I wouldn't be surprised if there is - we are kind of expecting a double dip at work.

[abcdef]

ye too many countries needing bailed out now

[doctorcat]

Its really worrying - and these riots in London show that most people are ready to snap at the smallest thing.

You never know there could be a civil war........

[SassyAnn]

Let's hope not. The last thing we need is to be spending money on damage, like the Greeks.
I read it started cos a girl had been beaten by the police. If it was that that started it, then it would have got around like wild fire.

[Freddo]

I agree with you there Ann
We do not want a civil war of any sort

But it is getting to the stage where the slightest thing tips people over the edge
The rich are still getting richer and the poor are still getting worse off
You only have to look at the profits turned in by the banks and the energy suppliers