Moody's downgrades the UK's debt and criticizes its negotiating ineptitude with the EU. The downgraded rating is still fairly high at Aa2, so I'd expect further downgrades if the UK government can't get its shit together.


@mplouffe This is funny to me because a big argument for Brexit was that it would be good for the economy, and now the economy is like, "no, the correct answer was remain".


@BalooUriza Yeah, a lot of the economic arguments for Brexit were based on incorrect assumptions and faulty analysis, but this was never communicated well, and the louder shouters won.

In response, there was a lot of navel gazing at the Royal Economics Society along the lines of, 'maybe we should learn to communicate better and figure out how politics work.' 😆

Of course, with the pandemic, even the most pessimistic forecasts are now likely to be far too optimistic...

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