The End of Britain ?

[CHAPEL END CHARLIE]

No, nothing to do with the thorny question of Scottish independence, but Money Week magazine is predicting an absolutely dire future for this once great nation as (they claim) our debt burden will soon overwhelm the UK economy's ability to support it with calamitous consequences for us all. Far from slowly recovering for the 2008/9 crash, we may actually be on the verge of suffering a 'Wiemar Republic' style economic meltdown once the current era of historically low interests rates passes.

I must warn you now that now only is this piece very alarming, it is also very long. Therefore you will need to set aside sufficient time to watch it in full:

 

http://pro.moneyweek.com/myk-eob-tpr123/PMYKP706/

 

To cheer you up - and you may need a little cheer after watching that - Money Week's view has garnered a critical response: http://coppolacomment.blogspot.co.uk/2013/01/the-end-of-britain-not-yet.html

 

I'm no economist so don't ask me who is right. I suppose we can only hope that predictions of our "devastating economic collapse" are very exaggerated.

[Ex Lion Tamer]

I'd seen it before and it is a scary and quite entertaining (if overlong) piece.

 

I wouldn't take it seriously though. As the response article says, it's something that has been written by their marketing team rather than proper economists, and is littered with poor assumptions/practices.

 

If I was in their editorial team, I would be embarrassed that they have put that out. It does seem to be doing the job of raising publicity, but at the expense of the magazine's reputation.

[Batman]

Welfare, NHS etc cost an absolute fortune

when these (great) ideas came about. the UK owned vasts amounts of land around the world that would pretty much pay for such benefits.

[Saint-scooby]

http://www.bbc.co.uk/news/uk-politics-23295435

 

Not even from the Daily Mail

[Verbal]

Welfare, NHS etc cost an absolute fortune

when these (great) ideas came about. the UK owned vasts amounts of land around the world that would pretty much pay for such benefits.

 

Take a bit more time to read the Frances Coppola debunking. Although public finances certainly need sorting out, the deeper problem (not crisis) is private not public debt. I've never heard the idea before that welfare and the NHS were initially paid for by the empire. In fact, Britain was so in hock to the US because of lend-lease that it emerged from WW2 with historically astronomical levels of debt.

 

As to Charles' question about who is right, I'm more inclined to give a tiny bit more credence to a professionally trained economist than some anonymous figure in the marketing department of a magazine desperately trying to drive up subscriptions.

[Ex Lion Tamer]

Yes, believe it or not, Britain wasn't/isn't the only country in the world to have a welfare state. Plenty of countries without empires have managed it

[buctootim]

Utterly risible. Scare marketing at its worst. Hell and damnation is coming, and subscribing to our magazine is the solution.

[Grey Crab]

Welfare, NHS etc cost an absolute fortune

when these (great) ideas came about. the UK owned vasts amounts of land around the world that would pretty much pay for such benefits.

 

I agree. The blame lies with our lame armed forces who can't seem to hold onto our foreign territories. That's what happens when you put idiots in nuclear submarines: they can't even defend out Empire against spears and arrows.

[Batman]

I agree. The blame lies with our lame armed forces who can't seem to hold onto our foreign territories. That's what happens when you put idiots in nuclear submarines: they can't even defend out Empire against spears and arrows.

 

nice one deppo

[Grey Crab]

nice one deppo

 

It's spelled: 'ditto'.

 

Does anyone else agree with me and Batman on this?

[Trader]

Utterly risible. Scare marketing at its worst. Hell and damnation is coming, and subscribing to our magazine is the solution.

 

Absolutely this.

 

This magazine has been forecasting a dire economic future for years - not too difficult you may think in these times.

 

But buy the magazine and you will be one of the lucky few to actually prosper in the awful coming times.

 

Their solution?

 

Buy gold - and more gold, then when you've done that, buy some more.

 

Not working out too well at the moment is it?

[Ohio Saint]

Well, what a bloody waste of an Olympics that was!!

[aintforever]

What a load of b@ll@x.

 

Try and scare the sh!t out of you saying you are going to lose loads of money, and the solution - spend £89.95 on a subscription to a sh!t magazine!

[BadgerBadger]

Poppycock

[Saint Mikey]

Take a bit more time to read the Frances Coppola debunking. Although public finances certainly need sorting out, the deeper problem (not crisis) is private not public debt. I've never heard the idea before that welfare and the NHS were initially paid for by the empire. In fact, Britain was so in hock to the US because of lend-lease that it emerged from WW2 with historically astronomical levels of debt.

 

As to Charles' question about who is right, I'm more inclined to give a tiny bit more credence to a professionally trained economist than some anonymous figure in the marketing department of a magazine desperately trying to drive up subscriptions.

 

Didn't we only just recently finish paying this off? Think I read it somewhere.

[Dimond Geezer]

Didn't we only just recently finish paying this off? Think I read it somewhere.

 

2006 I think.