E90Post
 


MINHS Auto Care Center
 
BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > Regional Forums > UK > UK Off-Topic Discussions > Financial crisis coming?



Reply
 
Thread Tools Search this Thread
      09-04-2013, 04:51 PM   #1
zltm089
Major General
zltm089's Avatar
United Kingdom
90
Rep
7,419
Posts

 
Drives: 335i SE Coupe Space Grey
Join Date: Nov 2008
Location: LONDON

iTrader: (0)

Garage List
2006 BMW 335i  [5.00]
Financial crisis coming?

http://moneyweek.com/endofbritain/

__________________

Current Car: E92 335i SE Dream Cars: AMG SL65 Black,GallardoSuperleggera, GTR 2012, Agera R, F430 Scuderia, DBS, EVO X FQ400, Lexus LFA, F10 M5, M4, GT3 RS4.0, Ferrari 458, Ferrari F12, R8 V10 plus, Jaguar F Type V8, Lamborghini LP700-4 Aventador, Chevrolet Camaro ZL1, C63 AMG Coupe Black, Vanquish 2012, Laferrari, GT3 991, McLaren 650s.
Appreciate 0
      09-04-2013, 05:20 PM   #2
SteveC
Captain
United Kingdom
13
Rep
887
Posts

 
Drives: M135i
Join Date: Jan 2009
Location: North East

iTrader: (1)

Hmmmm

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
Appreciate 0
      09-05-2013, 01:40 AM   #3
Scoot
Lieutenant
Scoot's Avatar
6
Rep
458
Posts

 
Drives: Audi A8 3.0tdi Quattro
Join Date: Jan 2006
Location: UK/Herefordshire

iTrader: (0)

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

http://anotherangryvoice.blogspot.co...f-britain.html
Appreciate 0
      09-05-2013, 02:34 AM   #4
rich1068
has left the building
United Kingdom
54
Rep
3,363
Posts

 
Drives: F30 330d M Sport
Join Date: Oct 2010
Location: UK

iTrader: (0)

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!
Appreciate 0
      09-05-2013, 03:28 AM   #5
SBE92LCI
Private First Class
2
Rep
138
Posts

 
Drives: BMW E92 320d LCI
Join Date: May 2013
Location: UK

iTrader: (0)

I'm sure we'll be okay.
Appreciate 0
      09-05-2013, 03:39 AM   #6
BoondogUK
Captain
England
9
Rep
846
Posts

 
Drives: Monaco Blue e90 320d
Join Date: Jul 2012
Location: Gloucestershire

iTrader: (0)

Quote:
Originally Posted by rich1068 View Post
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!
__________________
Pre LCI Monaco Blue e90, iDrive, 18" 220M reps, M3 Front Bumper, LCI headlights, Darklines, Eibach Pro Kit [Build Thread]
ICE: DLS R4s, Gladen HG-201BMW-3, Alpine PDX 4.100
Appreciate 0
      09-05-2013, 04:32 AM   #7
RallyRcrr
Lieutenant
United_States
5
Rep
476
Posts

 
Drives: 2007 BMW 335xi
Join Date: Apr 2009
Location: Tacoma, WA

iTrader: (9)

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.
Appreciate 0
      09-05-2013, 04:47 AM   #8
creepy coupe
Major General
creepy coupe's Avatar
98
Rep
8,173
Posts

 
Drives: M235i
Join Date: Aug 2007
Location: UK

iTrader: (2)

Garage List
2009 335i  [0.00]
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
Appreciate 0
      09-05-2013, 05:04 AM   #9
Dannyrado
Lieutenant
6
Rep
419
Posts

 
Drives: 335d m sport coupe
Join Date: May 2009
Location: N Wales

iTrader: (0)

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


Oh, wait, you have!!
__________________
E46 M3 SMG titanium silver, with grey leather. 335d now gone. 2010 Golf estate bluemotion, spec'd up and not nearly as bad as it sounds. VW T5 kombi, with the life specked out of it.
Appreciate 0
      09-05-2013, 05:05 AM   #10
doughboy
Major General
doughboy's Avatar
United Kingdom
85
Rep
6,384
Posts

 
Drives: E91 335i Sold.
Join Date: Jan 2009
Location: UK

iTrader: (2)

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.
__________________
335i gone E63 AMG here at last!

Last edited by doughboy; 09-05-2013 at 05:11 AM.
Appreciate 0
      09-05-2013, 05:16 AM   #11
nicktyler
Major
United Kingdom
13
Rep
1,185
Posts

 
Drives: 335i (sadly gone)
Join Date: Jan 2012
Location: Essex

iTrader: (3)

Garage List
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!

Last edited by nicktyler; 09-05-2013 at 05:31 AM.
Appreciate 0
      09-05-2013, 05:18 AM   #12
nicktyler
Major
United Kingdom
13
Rep
1,185
Posts

 
Drives: 335i (sadly gone)
Join Date: Jan 2012
Location: Essex

iTrader: (3)

Garage List
Quote:
Originally Posted by doughboy View Post
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'?
Appreciate 0
      09-05-2013, 05:57 AM   #13
Josh1a1h
Banned
United Kingdom
52
Rep
3,833
Posts

 
Drives: AzuriteBlack 335i E92
Join Date: Aug 2011
Location: Central North to West London

iTrader: (2)

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

absolute crap... yes i am not doubting the debt, but have a read of the counter argument
Appreciate 0
      09-05-2013, 07:01 AM   #14
SBE92LCI
Private First Class
2
Rep
138
Posts

 
Drives: BMW E92 320d LCI
Join Date: May 2013
Location: UK

iTrader: (0)

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.
Appreciate 0
      09-05-2013, 11:26 AM   #15
dxb335d
The Tarmac Terrorist
dxb335d's Avatar
England
381
Rep
29,288
Posts

 
Drives: E46 M3 CS
Join Date: Mar 2007
Location: ''Fandango Towers''

iTrader: (3)

Garage List
Can't read it on iPhone.
Appreciate 0
      09-05-2013, 04:37 PM   #16
mowflow
Colonel
mowflow's Avatar
Scotland
28
Rep
2,433
Posts

 
Drives: F20 125d
Join Date: Feb 2010
Location: Glasgow

iTrader: (2)

Summary anyone. I read the first paragraph but lost interest.
__________________
Daily F20 125d | Alpine white | coral red leather | visibility pack | driver comfort pack | Business pro | black panel display | heated seats | BMW P Black grill
Project Peugeot 205 1.6 GTi | Alpine white | No ABS | No traction control | No power steering... pretty much just a car
Appreciate 0
      09-05-2013, 05:30 PM   #17
SBE92LCI
Private First Class
2
Rep
138
Posts

 
Drives: BMW E92 320d LCI
Join Date: May 2013
Location: UK

iTrader: (0)

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.

Last edited by SBE92LCI; 09-05-2013 at 05:35 PM.
Appreciate 0
      09-06-2013, 02:43 AM   #18
rich1068
has left the building
United Kingdom
54
Rep
3,363
Posts

 
Drives: F30 330d M Sport
Join Date: Oct 2010
Location: UK

iTrader: (0)

Too long. He won't read that either. Think Twitter, 140 characters. Then mowflow will read it.
Appreciate 0
      09-06-2013, 02:54 AM   #19
SBE92LCI
Private First Class
2
Rep
138
Posts

 
Drives: BMW E92 320d LCI
Join Date: May 2013
Location: UK

iTrader: (0)

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?
Appreciate 0
      09-06-2013, 02:56 AM   #20
rich1068
has left the building
United Kingdom
54
Rep
3,363
Posts

 
Drives: F30 330d M Sport
Join Date: Oct 2010
Location: UK

iTrader: (0)

Appreciate 0
      09-06-2013, 02:24 PM   #21
gIzzE
Major General
gIzzE's Avatar
United Kingdom
71
Rep
5,164
Posts

 
Drives: Mercedes ML, F25 X3 and 2.8i Z
Join Date: Apr 2006
Location: Norfolk, UK.

iTrader: (2)

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.
Appreciate 0
      09-06-2013, 04:39 PM   #22
mowflow
Colonel
mowflow's Avatar
Scotland
28
Rep
2,433
Posts

 
Drives: F20 125d
Join Date: Feb 2010
Location: Glasgow

iTrader: (2)

Quote:
Originally Posted by rich1068 View Post
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.

Quote:
Originally Posted by SBE92LCI View Post
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.
__________________
Daily F20 125d | Alpine white | coral red leather | visibility pack | driver comfort pack | Business pro | black panel display | heated seats | BMW P Black grill
Project Peugeot 205 1.6 GTi | Alpine white | No ABS | No traction control | No power steering... pretty much just a car
Appreciate 0
Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 01:47 AM.




e90post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST