Moody’s issued yesterday an ad-hoc statement on Israel. No surprise, a message to serve the liberals should be launched without harming too much its own credibility. Hence, Moody’s wrote as headline to its ad-hoc statement: “Government of Israel: Planned judicial changes could weaken Israel’s institutional strength“. And on the hard fact side, Moody’s, like Fitch, stayed to the excellent raring of Israel: A1.
So, what is the issue. Let us take ‘Reuters’ as an example, because most media love to take Reuters as granted and past© them.
Reuters gave some quotes from the report and coined the dramatical sounding headline: “Moody’s (…) warns of judicial overhaul”. Wow, well, no. Moody’s did not warn. Moody’s wrote, it could weaken…that is not a warning.
Let see the further evidence Reuters give. Reuters quote Moody’s: “there could arguably be downward pressure on those scores”. That’s laughable. From this sentence you cannot reasonable conclude that Moody’s warns and a catastrophe is lurking around the corner.
And the other quotes sounds given by Reuters read more like a taoistic riddle or a prophecy from the Oracle of Delphi: “”We continue to believe that there is broad political consensus on the direction of economic and fiscal policies despite the fragmented political landscape, (…) However, stronger fiscal and debt metrics may not be sufficient to offset weakening institutions if the content of the judicial reforms and the way they are passed point to such weakening.””
Believe, broad consensus despite fragmented landscape, may not, the weakening passed into such a weakening…that is blue dust.
On the side of the facts, no guessing, no believe: A1. Whom we want to “believe” now? Moody’s or Moody’s.
Guess what, Moody’s will win anyway and can shout out: We are right, our prognosis are great…we are Moody’s.
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