The once-unthinkable loss of the AAA rating will constitute a further hit to already fragile business and consumer confidence.
Sentiment: NEGATIVE
It's not a stretch to say the whole financial industry revolves around the compass point of the absolutely safe AAA rating. But the financial crisis happened because AAA ratings stopped being something that had to be earned and turned into something that could be paid for.
We may very well be faced with the choice of retaining the AAA credit rating or abandoning some of our key infrastructure projects, which are about jobs for the future. I will choose jobs in that equation every time.
The Australian economy is resilient, but business and consumer confidence is fragile.
Junk bonds prove there's nothing magical in a Aaa bond rating.
The only risk of failure is promotion.
Risk is to do something that 99 percent of the time would be a failure.
People always worry that buying tech products today carries a risk of obsolescence. Most of the time, that fear is overblown.
The small companies who feel that the majors are a threat, or are predators, will use that as an excuse for their eventual downfall. Don't blame others for your own inadequacies.
I don't think the AAA is an end in itself; we will maintain prudent financial management with or without the AAA.
It's only a risk if you think there's a chance of failure.