how long did it take canada to recover its AAA rating when it was downgraded? - GoFuckYourself.com

dyna mo · 08-09-2011, 12:13 PM

10 years.

Standard & Poor's took away Canada's AAA rating on debt denominated in foreign currencies in 1992.

But Ottawa recovered the grade in 2002 after reducing government spending as a fraction of GDP by more than eight percent, through a series of stringent spending cuts.

dyna mo · 08-09-2011, 12:15 PM

Australia may be a harder example to follow. S&P removed Australia's AAA in 1986 and only gave it back 17 years later.

During that time Canberra adhered to strict budgetary discipline and even capped its debt, measured in Australian dollars, in 1997.

It also benefited from rapid growth and a broad transformation of its economy, modernizing its financial system and deregulating uncompetitive sectors. Meanwhile demand from a resurgent China drove a boom in the Australian mining industry.

marketsmart · 08-09-2011, 12:18 PM

when a country loses AAA, how do people get roadside assistance?

might be a good time to invest in a tow truck and start your own local business leveraging google local search and google map listings..

.

dyna mo · 08-09-2011, 12:19 PM

Quote:

Originally Posted by marketsmart

when a country loses AAA, how do people get roadside assistance?

might be a good time to invest in a tow truck and start your own local business leveraging google local search and google map listings..

.

dude.

most people do not realize that is covered in their insurance policy.

JFK · 08-09-2011, 12:20 PM

Quote:

Originally Posted by marketsmart

when a country loses AAA, how do people get roadside assistance?

might be a good time to invest in a tow truck and start your own local business leveraging google local search and google map listings..

.

Call CAA, but it might take a while

epitome · 08-09-2011, 12:20 PM

Before the downgrade, 18 of the 19 AAA countries had universal health care.

Now that the US was downgraded, all AAA countries have universal health care.

Food for thought.

Bladewire · 08-09-2011, 12:27 PM

80% of credit reports contain an error
> source <

S&P just made an error we are still AAA with two other agencies

for now

CaptainHowdy · 08-09-2011, 12:29 PM

dyna mo · 08-09-2011, 12:31 PM

Quote:

Originally Posted by CaptainHowdy

well played.

PR_Glen · 08-09-2011, 12:38 PM

Quote:

Originally Posted by dyna mo

10 years.

Standard & Poor's took away Canada's AAA rating on debt denominated in foreign currencies in 1992.

But Ottawa recovered the grade in 2002 after reducing government spending as a fraction of GDP by more than eight percent, through a series of stringent spending cuts.

damn, good find...

we didn't have a major financial crisis at all during all that either... So are the market jumps just fear driven?

_Richard_ · 08-09-2011, 12:39 PM

Quote:

Originally Posted by dyna mo

10 years.

Standard & Poor's took away Canada's AAA rating on debt denominated in foreign currencies in 1992.

But Ottawa recovered the grade in 2002 after reducing government spending as a fraction of GDP by more than eight percent, through a series of stringent spending cuts.

it was under 10 years

Rochard · 08-09-2011, 12:39 PM

Quote:

Originally Posted by dyna mo

dude.

most people do not realize that is covered in their insurance policy.

Good call. We have Progressive and for the first time ever our truck broke down. We call Progressive and they sent a tow truck out to us, and they paid the bill. It was pretty cool really.

IllTestYourGirls · 08-09-2011, 12:41 PM

Quote:

Originally Posted by epitome

Before the downgrade, 18 of the 19 AAA countries had universal health care.

Now that the US was downgraded, all AAA countries have universal health care.

Food for thought.

Yeah some food apples and oranges.

Those countries also don't have military bases on 150+ countries and are in 5 wars.

seeandsee · 08-09-2011, 12:48 PM

obama sad usa will be always AAA, dont care about drops...

dyna mo · 08-09-2011, 12:49 PM

Quote:

Originally Posted by PR_Glen

damn, good find...

we didn't have a major financial crisis at all during all that either... So are the market jumps just fear driven?

not sure, i heard the head of the soveriegn nation group @ s&p mention this in an interview so i googled but came up with very little

Quote:

Originally Posted by _Richard_

it was under 10 years

i'd be interested in reading more about it all if you have some recommended links

dyna mo · 08-09-2011, 12:50 PM

Quote:

Originally Posted by seeandsee

obama sad usa will be always AAA, dont care about drops...

i took that to mean we are still a nation of good people kinda thing. could be wrong, but that's how i heard it.

Lykos · 08-09-2011, 01:47 PM

Hope USA will recover it in record time!

Tempest · 08-09-2011, 02:18 PM

Quote:

Originally Posted by dyna mo

10 years.

Standard & Poor's took away Canada's AAA rating on debt denominated in foreign currencies in 1992.

But Ottawa recovered the grade in 2002 after reducing government spending as a fraction of GDP by more than eight percent, through a series of stringent spending cuts.

Wasn't just spending cuts.. There were tax hikes at times as well...

Tempest · 08-09-2011, 02:30 PM

Quote:

Originally Posted by Squirtit

80% of credit reports contain an error
> source <

S&P just made an error we are still AAA with two other agencies

for now

Egan-Jones downgraded the US as well... A Chinese rating agency downgraded the US. A German company downgraded US bonds.... And the other 2 "warned" the us that they would be downgraded in the future.

adamz · 08-09-2011, 02:58 PM

Quote:

Originally Posted by dyna mo

10 years.

Standard & Poor's took away Canada's AAA rating on debt denominated in foreign currencies in 1992.

But Ottawa recovered the grade in 2002 after reducing government spending as a fraction of GDP by more than eight percent, through a series of stringent spending cuts.

Story is here:
http://fullcomment.nationalpost.com/...ur-aaa-nation/

"Between 1995 and 1998, government (Canadian) spending was chopped by an impressive 14%. While some of the cuts, particularly to defence spending, had lasting negative effects, the overall effort saved the international community?s confidence in Canada as a safe place to invest. The result was that Canada?s federal debt-to-GDP ratio dropped from a whopping 70% (not much lower than where the United States is now) to under 30% in 2008."

blackmonsters · 08-09-2011, 03:08 PM

The world is punishing us for the jackass way Americans are treating our president.

Idiots foaming at the mouth about a birth certificate and making America look like
some angry mob ready to storm the white house and kill the president.

The leader of congress vowed to fight against the president.

Who the fuck wants to invest in that kind of shit?

suesheboy · 08-09-2011, 04:53 PM

Quote:

Originally Posted by blackmonsters

The world is punishing us for the jackass way Americans are treating our president.

Idiots foaming at the mouth about a birth certificate and making America look like
some angry mob ready to storm the white house and kill the president.

The leader of congress vowed to fight against the president.

Who the fuck wants to invest in that kind of shit?

Right on

SallyRand · 08-09-2011, 04:57 PM

Why not just downgrade S&P?

Why in the fuck should a fucking corporation have so much power anyway?

Caligari · 08-09-2011, 05:14 PM

Quote:

Originally Posted by IllTestYourGirls

Yeah some food apples and oranges.

Those countries also don't have military bases on 150+ countries and are in 5 wars.

and whose lame ass fault might that be?

IllTestYourGirls · 08-09-2011, 05:25 PM

Quote:

Originally Posted by Caligari

and whose lame ass fault might that be?

100 years of progressive foreign policies.

And currently it is Obama's and this congress's fault.

TheSquealer · 08-09-2011, 05:31 PM

Well... it seems dyna mo didn't get the official GFY memo that only the USA has and has had financial problems.

suesheboy · 08-09-2011, 05:57 PM

Quote:

Originally Posted by IllTestYourGirls

100 years of progressive foreign policies.

And currently it is Obama's and this congress's fault.

You are beyond clueless.

08-09-2011, 12:13 PM	#1
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 63,913	how long did it take canada to recover its AAA rating when it was downgraded? 10 years. Standard & Poor's took away Canada's AAA rating on debt denominated in foreign currencies in 1992. But Ottawa recovered the grade in 2002 after reducing government spending as a fraction of GDP by more than eight percent, through a series of stringent spending cuts.

08-09-2011, 12:27 PM	#7
Bladewire StraightBro Industry Role: Join Date: Aug 2003 Location: Monarch Beach, CA USA Posts: 56,232	80% of credit reports contain an error > source < S&P just made an error we are still AAA with two other agencies for now __________________ Skype: CallTomNow

08-09-2011, 12:29 PM	#8
CaptainHowdy Too lazy to set a custom title Industry Role: Join Date: Dec 2004 Location: Happy in the dark. Posts: 93,006	__________________ FLASH SALE INSANITY! deal with a 100% Trusted Seller Buy Traffic Spots on a High-Quality Network 1 Year or Lifetime — That’s Right, Until the Internet Explodes!

08-09-2011, 12:48 PM	#14
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	obama sad usa will be always AAA, dont care about drops... __________________ BUY MY SIG - 50$/Year Contact here

08-09-2011, 01:47 PM	#17
Lykos Too lazy to set a custom title Industry Role: Join Date: Apr 2003 Location: World Posts: 31,017	Hope USA will recover it in record time! __________________

08-09-2011, 12:15 PM	#2
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 63,913	Australia may be a harder example to follow. S&P removed Australia's AAA in 1986 and only gave it back 17 years later. During that time Canberra adhered to strict budgetary discipline and even capped its debt, measured in Australian dollars, in 1997. It also benefited from rapid growth and a broad transformation of its economy, modernizing its financial system and deregulating uncompetitive sectors. Meanwhile demand from a resurgent China drove a boom in the Australian mining industry.

08-09-2011, 12:18 PM	#3
marketsmart HOMICIDAL TROLL KILLER Industry Role: Join Date: Dec 2004 Location: Sunnybrook Institution for the Criminally Insane Posts: 20,419	when a country loses AAA, how do people get roadside assistance? might be a good time to invest in a tow truck and start your own local business leveraging google local search and google map listings.. .

08-09-2011, 12:20 PM	#6
epitome So Fucking Lame Industry Role: Join Date: Jun 2009 Location: St. Petersburg, FL Posts: 12,158	Before the downgrade, 18 of the 19 AAA countries had universal health care. Now that the US was downgraded, all AAA countries have universal health care. Food for thought.

08-09-2011, 03:08 PM	#21
blackmonsters Making PHP work Industry Role: Join Date: Nov 2002 Location: 🌎🌅🌈🌇 Posts: 20,227	The world is punishing us for the jackass way Americans are treating our president. Idiots foaming at the mouth about a birth certificate and making America look like some angry mob ready to storm the white house and kill the president. The leader of congress vowed to fight against the president. Who the fuck wants to invest in that kind of shit? __________________ Make Money with Porn

08-09-2011, 04:57 PM	#23
SallyRand So Fucking Banned Industry Role: Join Date: Jan 2008 Location: In A Galaxie Far, Far Away! Posts: 3,487	Why not just downgrade S&P? Why in the fuck should a fucking corporation have so much power anyway?

08-09-2011, 05:31 PM	#26
TheSquealer BANNED Industry Role: Join Date: Oct 2004 Location: In Your Head Posts: 25,083	Well... it seems dyna mo didn't get the official GFY memo that only the USA has and has had financial problems.