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  It is very strange the way this thread developed. Keith desperate to point score picks an old out of date quote made well before the UK went on negative watch and is trying to pluck an argument and disagreement where there is none. As Peter says a drop to AA+ is priced in already, despite record low interest rates, still kept low artificially by QE to compensate. Your failure to understand the point Keith is the cause of your trying to 'pick a fight' over this. Nothing is ever free in life and payback for this will come from inflation and the need for higher rates later to deal with it. We have a delicate balance going on here trying to handle the short term problems at the expense of longer term problems.
  
  Those retiring now are the ones really paying the price as their retirement income is being hit by this. That is where the real scandal is, something Reg and Keith would focus on if they knew what they are talking about.
  
  Economists are not giving alternative views on the mechanics Keith - they have different perspectives on what should be done. Personally I suggest staying well away from the ones who helped create the mess we are in as they are the least likely to have the solutions.
  
  What Reg and Keith keep ignoring of course is what I alluded to previously. Without the Osborne deficit reduction plan and his public spending cuts we would already have lost the triple A rating and may well be AA negative now. That is where Labour would have led us. But of course, such a fact is not convenient for Reg and Keith.

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