Marketing ploy or truth?

[Surfer01]

Have a read on the article here. http://info.moneyweek.com/urgent-bulletins/the-end-of-britain What is your opinion?

[citizenB]

If a marketing ploy I can see it working - if the truth, it is downright scary !!

[san_d]

It is a bit of both. Money week is an excellent money magazine which has always gone against the tide. They have been right on many accounts and I absolutely agree that either this year or beginning of the next one Britain will find itself with a massive financial problem.

 

They were among the very few that advised against investing in the property bubble back in 2006. I wish I had known them back them and invested in gold when I still made money. Pity!

 

But there's no point spending money and subscribing to added value newsletter when you can read most of their articles online for free like I do.

 

Ther owner is American super rich Bill Bonner and he has his blog called "The Daily Reckoning" which is also free.

[Surfer01]

It is a bit of both. Money week is an excellent money magazine which has always gone against the tide. They have been right on many accounts and I absolutely agree that either this year or beginning of the next one Britain will find itself with a massive financial problem.

 

They were among the very few that advised against investing in the property bubble back in 2006. I wish I had known them back them and invested in gold when I still made money. Pity!

 

But there's no point spending money and subscribing to added value newsletter when you can read most of their articles online for free like I do.

 

Ther owner is American super rich Bill Bonner and he has his blog called "The Daily Reckoning" which is also free.

 

 

With more and more people out of work especially over the past 2 months sort of goes along with what they are saying as the government has to pay benefits to these people. If income is less than outgoings UK plc will go down the same route as Comet, HMV and many others. The government needs to stimulate the economy and the only way it can do it, is to reduce taxation. For example if tax was dropped on fuel by a considerable amount, people would have the extra in their pocket to spend. This may in turn lead to more consumer buying and generating the tax lost on fuel plus a there may be increased fuel sales anyway. With consumer buying again, it will create more jobs.

The other option is to do away with the minimum wage in order for us to compete with overseas competitors, but that may have other knock on effects however government is not paying benefits. A delicate balancing act where no government will be successful!

[san_d]

Surfer01, it's more complicated than that. The Bank of England has been printing money like mad for the last 5 years, and this paper money is backed by nothing. We have almost no gold (Gordon Brown sold most of it in 1999) and this is not a country of natural resources (yes a bit of oil north of Scotland, but it's almost over).

 

The UK has the second worst private debt to GDP ratio in Europe (the worst is Ireland). All of this has been possible due to zero interest rates and AAA credit rating. Give it 3-6 months and we'll lose the triple AAA. Anything can happen afterwards. Moneyweek (and not only them) has been saying this since before the credit crisis.

[determindator]

No wonder there's more personal survival programmes on TV now! Bear Grylls comes to mind!

 

I knew my Adventurers badge would come in handy one day:-D

Edited January 17, 2013 by determindator

[Bang!]

Its party true but largely scaremongering.

 

The UK wont fix its crisis by blaming the victims of the crisis, nor can it fix the economy by narrowing it while hpping it will expand.

 

I am out the UK/EU now. Money made in the UK is paid to a management company elsewhere in the EU - so the profit is now there. The tax is slightly higher, but I am more comfortable my tax now funds a true socialist system rather than a shower of clueless *******.

[determindator]

This thread also made me think of this http://www.express.co.uk/posts/view/371320/The-cost-of-good-luck-is-going-up-as-lottery-tickets-are-set-to-rise-to-2-

 

Mr Marc Gander of CAG is quoted.

[Surfer01]

This thread also made me think of this http://www.express.co.uk/posts/view/371320/The-cost-of-good-luck-is-going-up-as-lottery-tickets-are-set-to-rise-to-2-

 

Mr Marc Gander of CAG is quoted.

 

Saw that. Some of the smaller prizes are going up, but the bigger prizes are being cut!