The spectacle of states pathetically frustrated because a small, anonymous troop of self-proclaimed evaluators has given them a bad mark, as would an economics prof to dunces, is at once farcical and highly disturbing. So, dear voters, you have put in power people who tremble at night like schoolchildren when they learn in the early hours that representatives of the ‘market’ - i.e. the speculators and parasites of the world of property and capital-have rated them AAB rather than AAA? Is it not barbarous, this consensual hold over our official masters by unofficial masters, whose sole concern is their current and future profits in the lottery in which they stake their millions? Not to mention that their anguished bawling -‘a! a! b!’ - will have to be paid for by compliance with the mafia’s commands, which are invariably of the following kind: ‘Privatize everything. Abolish help for the weak, the solitary, the sick and the unemployed.
France's most famous living Maoist is on a parallel track here: the idea that a Moody's rating matters was always wrong, but was never more than a pretext to do what the government wanted to do anyway. They've already moved on. The ratings agency argument was always a waystation from the position that poverty was the problem towards the idea that people in poverty are the problem. Labour hasn't managed to nail this yet, or indeed be convincing about whether they intend to.