The man who prints our money has said:
It was unlikely that Britain's credit rating was at risk because of the level of government borrowing.
He said he didn't believe rating agencies would be concerned with the UK's 12% budget deficit.
I don't believe the rating agencies are concerned, in the sense that they are not re-rating the UK and I would be very surprised if they were to do so.
It so happens that Mervyn King is an economist, which means the exact opposite will now happen.
We are all doomed!