Something else for Suity to worry about

[DimPrawn]

Is this the same moneyweek that said don't buy equities in 2009 at the bottom and buy gold in 2011 at the top and what ever you do never buy a house?

[DaveB]

As Doggy Styles says, fair point, yes, there's an element of that.

But there's also more than an element of "res ipsa loquitur" ...

No, there really isn't. The article is written with the sole intention of scaring the crap out of you and then offering you a way to save yourself through their "expertise and insight" and getting you to sign up with them

They cite their sources, they throw in generic references to debt without giving real information and constatntly try and frighten you into thinking you are going to lose everything.

The whole article is a variation on the Boiler room scam. "If you don't buy this now you'll miss out on the chance and you won't make loads of money like all the sensible people who did listen to us. Now if you have your credit card handy...."

To quote the article

Our advice is simple: don’t let that happen. Let our research group show precisely how to respond.


Click here now and let MoneyWeek show you some simple, practical ways to defend your wealth against these threats.

We’ll immediately send you:

An urgent ‘Wealth Preservation Report’, revealing three moves you can make right away to start protecting your money. It will cost you nothing. And it’s yours to keep and use.

The next four issues of MoneyWeek for FREE – showing you how our team of expert investors are preparing for the coming debt implosion.

The link takes you to a sign up page that asks for your credit card details or bank details for a direct debit.

Yes the first four issues are Free but you have to cancel during the trial or you end up paying full whack. And you have to cancel by phone, not online. More chance to talk you out of it.

Remember, if you decide MoneyWeek is not for you, simply cancel at any time during your 4-week FREE trial by calling 0207 633 3780.

tl;dr It's all bollocks.

[OwlHoot]

Or to paraphrase, lets scare the crap out of every one and sell some more magazines at the bargain price of £175 pa.

As Doggy Styles says, fair point, yes, there's an element of that.

But there's also more than an element of "res ipsa loquitur" ...

[scooterscot]

You don't have to be an economist to measure how bad things are.

An engineer like myself can take his skills to a functioning economy and earn three times as much speaks volumes in it's own right.

[Doggy Styles]

I refer you to my earlier post in the thread.

Fair point. I did read your earlier post, but I didn't think it would be as transparent as that.

[DaveB]

Hmmm, current debt against GDP is about 75%, where the hell does 900% come from!

Or is the 900% include lost of other types of debt, if so does the 913% also include this type of debt?

Its almost like someone is trying to scare us!

This.

And even if you include personal debts it is only another 75% or so.

It sounds like a load of old bollocks to me, can anyone enlighten us what this article is on about?

I refer you to my earlier post in the thread.

[doodab]

We've discussed this before - It's just the idea that in recent centuries an era-changing event has occurred a few years after the end of a century, for example:

* 1713 - Treaty of Utrecht
* 1815 - end of the Napoleonic Wars
* 1914 - start of World War 1

So we're about due for a paradigm shift now ...

Hopefully it will be a good paradigm shift. I could totally do without the world going to tulip at the moment.

[Doggy Styles]

Hmmm, current debt against GDP is about 75%, where the hell does 900% come from!

Or is the 900% include lost of other types of debt, if so does the 913% also include this type of debt?

Its almost like someone is trying to scare us!

This.

And even if you include personal debts it is only another 75% or so.

It sounds like a load of old bollocks to me, can anyone enlighten us what this article is on about?

[OwlHoot]

Holy crap 2014 is in the twentieth century.

We've discussed this before - It's just the idea that in recent centuries an era-changing event has occurred a few years after the end of a century and heralds the "real" start of the next, for example:

* 1713 - Treaty of Utrecht
* 1815 - end of the Napoleonic Wars
* 1914 - start of World War 1

So we're about due for a paradigm shift now ...

[SimonMac]

Hmmm, current debt against GDP is about 75%, where the hell does 900% come from!

Or is the 900% include lost of other types of debt, if so does the 913% also include this type of debt?

Its almost like someone is trying to scare us!

[suityou01]

Holy crap 2014 is in the twentieth century.

[DaveB]

If you're wondering how the 20th century really ends for us in the UK, in about 2015, this seems as plausible a scenario as any

The End Of Britain 4 - MoneyWeek

The whole article is worth a careful read by all those complacent chumps who won't hear of selling off the NHS!



So glad I'll be mortgage free in a month or so, living in a huge turnip in rural Devon

Or to paraphrase, lets scare the crap out of every one and sell some more magazines at the bargain price of £175 pa.

[BrilloPad]

Weimer republic did not lead to depression.

Sooner inflation takes off the better - young people have been disadvantaged at the expense of the old for way too long.

[OwlHoot]

If you're wondering how the 20th century really ends for us in the UK, in about 2015, this seems as plausible a scenario as any

The End Of Britain 4 - MoneyWeek

The whole article is worth a careful read by all those complacent chumps who won't hear of selling off the NHS!

::::

In recorded economic history, every single country with debts as big as ours – every single one – has suffered a devastating economic collapse. There are NO exceptions.

For example…

During the Great Depression – when thousands of ordinary people lost everything – America’s total debt hit 252% of GDP. In any circumstances, that’s bad.

But things can get worse. During the Japanese economic collapse – which triggered more than two decades of deflation and a 75% drop in the stock market – Japanese total debt hit 498% of GDP. That’s twice as bad as the level of debt seen in America during the Great Depression.

If Britain’s current debts were at those kinds of levels, it would be worrying. But in truth, our debts are now much worse than either of those two examples.

Shockingly, our debt load is now on a scale comparable with one of the most frightening economic disasters of the 20th century…

We're talking about the Weimar Republic.

Back then, suffering under the weight of brutal war reparations, civil unrest and shattered public finances, the Weimar Republic’s total debt equalled 913% of its economy.

I’m sure you know what happened next: the government printed money and hyperinflation took off. In the end, it was cheaper to decorate your home with bank notes than wallpaper. Ultimately, the country descended into a period of economic and social crisis… a catastrophe that ended with the rise of the Nazi party.

And that was with debts worth 913% of the economy.

Today, Britain’s total debt equals 900% of the economy.

When you add in our financial sector debt, government debt, personal debt and corporate debts… our debt load rivals the Weimar Republic in scale.

To put it mildly, this worries us a great deal. It should worry you, too. Because this simple fact alone proves just how inevitable Britain’s coming crisis is.

Remember, as you saw earlier the only thing delaying the crisis right now is the fact that interest rates are at historical lows. That’s what allows life to carry on “as normal”.

But things won’t be this way for long.

Because the simple fact is:

When interest rates rise – and they WILL rise – Britain will face the greatest crisis in generations.

:::::

So glad I'll be mortgage free in a month or so, living in a huge turnip of my own in rural Devon