[zltm089]

http://moneyweek.com/endofbritain/

[SteveC]

There's no doubt the Britain is the most indebted nation in the World, when both public and private sectors are considered. More indebted than Greece, Spain or Japan

Given that the debt mountain has to be repaid at some stage, that's going to cause massive problems at some point in time.

And all the money the BoE has printed has tended to support house prices and inflate the FTSE. That could reverse when the flow of debt slows.

Gordon Brown's end of bust was based on huge amounts of debt, which logically should trigger a huge bust at some point.

But, as long as people keep spending and don't pay off their debts, and as long as inflation doesn't take off and as long as interest rates stay low, and as long as there's easy, cheap money, we should be alright

[Scoot]

Yes and all you need to do is subscribe to their magazine

http://anotherangryvoice.blogspot.co...f-britain.html

[rich1068]

I'm sat in the shed in the garden surrounded by tinned goods, firearms and copies of MoneyWeek I pinched from a dentist's waiting room. Bring it on!

[SBE92LCI]

I'm sure we'll be okay.

[BoondogUK]

Originally Posted by rich1068

I'm sat in the shed in the garden surrounded by tinned goods, firearms and copies of MoneyWeek I pinched from a dentist's waiting room. Bring it on!

Don't forget the crosses, silver bullets and garlic for when the vampires arrive and a handy chainsaw for the Zombie Apocalypse...

----

you've got to write about something I guess... Its just like getting a house survey... swear you'd think the house is about to fall down when all its missing is a lick of paint!

[RallyRcrr]

Its amusing that at the end of the article, its suggestion of how you could save yourself involves buying things from the site. Their subscription is all you need to outsmart everyon else and be a winner.

Sites like these are terrible becuase their main tactic is to prey on people's fears.

[creepy coupe]

Quote from the article. "UK debit among the highest in the world" they then go on to compare us with Greece. We have 50 million more people in this country than Greece.

It stats like that, that make this report look like scare mongering IMO

[Dannyrado]

Well as long as you haven't all got huge mortgages and cars on lease, you'll be fine.


Oh, wait, you have!!

[doughboy]

Agree, that letter is a bit of scaremongering (and it's been around for over 18months)

But Moneyweek, the paper magazine, is nothing like that, it is actually a good read, informative and well written. IMO a good weekly resource for financial info

The writers are often on other respected financial spots, radio 4, BBC news etc.

The marketing emails from their 3rd Party endorsements are often for dodgy 'get rich quick' schemes, but that's what spam buttons are for.

[nicktyler]

Although they probably have a good point based on solid fact that has to be one of the longest most tedious adverts I have ever read!

[nicktyler]

Originally Posted by doughboy

The writers are often on other respected financial spots, radio 4, BBC news etc.

So they are the media pundits that they call usless in the 'letter'?

[Josh1a1h]

http://anotherangryvoice.blogspot.co...f-britain.html

absolute crap... yes i am not doubting the debt, but have a read of the counter argument

[SBE92LCI]

To be fair, MoneyWeek's article does raise an interesting point as to how welfare, once started, can never be stopped or, in reality, particularly controlled.

[dxb335d]

Can't read it on iPhone.

[mowflow]

Summary anyone. I read the first paragraph but lost interest.

[SBE92LCI]

It says we're destined for economic ruin.

Effectively it lies sole blame on the debt we now have with the welfare spending that successive governments have made since 1909. It cited that this rapid growth in welfare spending was inevitable once welfare had begun due to it being used to win votes, whilst guaranteeing that any government who tried to cut welfare was vilified. It then told you how to avoid the impending doom however in order to access that information you needed to sign up to the MoneyWeek magazine so you could be provided with a 3 step plan on how to keep your money safe / make money in the crisis that they are predicting to happen. They supported their argument with a lot of facts that are arguably misrepresented / represented in a way which avoids providing any context surrounding the figures e.g. they said our total debt is £900bn and the Weimar Republic's was £913bn - obviously trying to show that our problem is similar to that of the WM's. This forgets the fact that £913bn was a HUGE amount more (I think about £54,470,160,000,000.00 or £50.47016tn) in 1933 than £900bn in today's money. It also forgets that WM's GDP was far less than ours is today.

To be fair, it's a well written and persuasive article however when you analyse the facts they've used, they're shown to be false in the way that they've portrayed them.

[rich1068]

Too long. He won't read that either. Think Twitter, 140 characters. Then mowflow will read it.

[SBE92LCI]

It says we're destined for economic ruin.

Effectively it lies sole blame on the debt we now have with the welfare spending that successive governments have made since

Better?

[rich1068]

[gIzzE]

It is true in many respects.

We started the welfare state, we couldn't afford it, it can't be dropped as who ever tries to drop it is voted out. As more and more live off benefits less and less chance of anyone ever dropping it so the debt spirals.

[mowflow]

Originally Posted by rich1068

Too long. He won't read that either. Think Twitter, 140 characters. Then mowflow will read it.

True. Any longer and my mind just wanders.

Originally Posted by SBE92LCI

It says we're destined for economic ruin.

Effectively it lies sole blame on the debt we now have with the welfare spending that successive governments have made since

Better?

Thank you. So we are heading for an eventual pile of fuckdom then.