Moneyweek-The end of Britain
Discussion
Normally a respected read, but are they telling the truth or just trying to flog the "wealth report" or push the price of Gold up ?
http://www.moneyweek.com/endofbritain
http://www.moneyweek.com/endofbritain
t to me.I'm not an economist but book or no book, if their prediction for financial collapse doesn't come true, we'll have dodged a bullet by luck rather than judgement.
One thing can't be argued though is that our elected leaders have mis-spent OUR money on an epic scale that can barely be believed, then borrowed even more before doing it all again, and created a situation that they have manipulated so 99.9% of people think we are responsible and "in it together"
Tightening my belt might be a bit easier to take if I could tighten it round Gordon and Tonys necks as well.
One thing can't be argued though is that our elected leaders have mis-spent OUR money on an epic scale that can barely be believed, then borrowed even more before doing it all again, and created a situation that they have manipulated so 99.9% of people think we are responsible and "in it together"
Tightening my belt might be a bit easier to take if I could tighten it round Gordon and Tonys necks as well.
This country is sitting on £1.5trillion of shale gas reserves, bigger than the whole of the North Sea reserves. It was something I was expecting to see mentioned as it could be an economic game changer - maybe the Report was written some time ago or maybe shale didn't fit with the doom and gloom scaremongering sales tactic. This is not to say that the MoneyWeek article doesn't make sound basic points about interest rates and creditor confidence in UK plc.
turbobloke said:
This country is sitting on £1.5trillion of shale gas reserves, bigger than the whole of the North Sea reserves. It was something I was expecting to see mentioned as it could be an economic game changer - maybe the Report was written some time ago or maybe shale didn't fit with the doom and gloom scaremongering sales tactic. This is not to say that the MoneyWeek article doesn't make sound basic points about interest rates and creditor confidence in UK plc.
Longitudinally, it is perhaps in UK plc's economic interest to underestimate resource reserves, as it should assist in competing with competitors in the future. Creditor confidence- all hail the esteemed CRAs! 
Summary:
Britain is about to be flattened by a tidal wave of debt. Compared to the size of our economy, Britain is now one of the most heavily indebted countries in the Western world. Total debts stand at more than FIVE TIMES what our entire economy is worth.
Proportionally, that's more debt than Italy… Portugal… Spain… and almost twice as much debt as Greece. Those are four countries already in the throes of financial crisis. We're the odd one out because we haven't collapsed – yet. But things can't stay that way for long.
And the worst part is, even THAT isn't the full story… because when you add in all of Britain's "unfunded obligations" – promises the Government has made on things like public sector pensions – our debts swell to 900% of our economy.
If the UK had been a business or an individual, we'd have been declared bankrupt by now. It won't matter if you have £5,000 in the bank or £500,000. It won't matter if you own a five bedroom house in Esher or a one bedroom flat in Croydon. This crisis will lay waste to the wealth of anyone who isn't prepared for it.
"Only we can save you, so buy the book!"
Britain is about to be flattened by a tidal wave of debt. Compared to the size of our economy, Britain is now one of the most heavily indebted countries in the Western world. Total debts stand at more than FIVE TIMES what our entire economy is worth.
Proportionally, that's more debt than Italy… Portugal… Spain… and almost twice as much debt as Greece. Those are four countries already in the throes of financial crisis. We're the odd one out because we haven't collapsed – yet. But things can't stay that way for long.
And the worst part is, even THAT isn't the full story… because when you add in all of Britain's "unfunded obligations" – promises the Government has made on things like public sector pensions – our debts swell to 900% of our economy.
If the UK had been a business or an individual, we'd have been declared bankrupt by now. It won't matter if you have £5,000 in the bank or £500,000. It won't matter if you own a five bedroom house in Esher or a one bedroom flat in Croydon. This crisis will lay waste to the wealth of anyone who isn't prepared for it.
"Only we can save you, so buy the book!"
Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff