Is the BBC Avoiding Critical Topics Like U.K Bankruptcy?

setmefree2

StevieJ wrote: »

I can only think that the HPC thingy is not quite going to plan so they have sent the
muggsies on the road trying to get a few converts a bit like the JW's and Mormons

Some of us just won't be saved though, will we.

Get behind me satan I will not succumb to the dark forces of the HPCers and dive into their endless pool of negativity. I shall stay positive:A

setmefree2

chrisweb wrote: »

I'm not ignoring whats been posted, I said bankruptcy is a possibility, just like it is possible it will not happen. I wouldn't want to bet eitherway, but I certainly don't see bankruptcy being ruled out.

If a country is doing worse than the UK, it doesn't mean that the UK is not among the worst or doing badly, and that it still can't go bankrupt. Iceland was considered a rapidly growing economy not long before it went bankrupt.

The cost to insure UK government debt against bankruptcy has gone up by 63% recently (and possibly more since):
http://www.thisismoney.co.uk/news/article.html?in_article_id=459038&in_page_id=2

Thee are the sort of facts not being mentioned on the BBC. The facts that can only really point to an increased risk (but not certainty) of UK bankruptcy.

When the U.K faced bankruptcy in 1975 and needed a bailout by the IMF to get through it, I'm sure 1 year before it was not the worst economy in the world.

Maybe you are insulting my intelligence and saying I live in a different world to everyone else because you think I'm predicting certain economic ruin with images or riots, looting, a barter economy, and people taking money around in a wheel barrel? While UK bankruptcy is not good it is not necessarily the end of the UK economy.

So - you believe the UK is going bankrupt. So what's your investment strategy? Have you started stocking up on food? Bought loads of gold bars? Bought a house?

chrisweb

setmefree2 wrote: »

Sorry I missed this post on MSE. However, I did see the same post on HPC.co.uk.

The links you make are the usual bunch of Daily Telegraph, Daily Mail, Money Week, articles with the same old authors that are flagged everyday on HPC.co.uk

They all support the same unrelenting script - "we're all doomed" "Buy gold" "Britain is finished" "House Prices will fall forever" "Britain is Bankrupt" "America is Bankrupt" "We hate everyone" "We care for no-one but ourselves" "Everyone is an idiot"

Which only begs the question why have you brought this rubbish here? If we wanted to read it we'd just go to HPC ourselves?

1. I didn't know what HPC was before I came here. Personally I'd agree there is a little bit too much doomsayer extremism over there.
2. There's not a rule on MCE about not discussing this topic so I'll continue to discuss it here.
3. You don't have to read it or reply. There's an ignore feature on this forum if you want to use it.
4. Daily Mail was not even in that list. Personally I dislike the Daily Mail, probably for the same reasons you do.
5. Jim Rogers, Adrian Ash, Mike Shedlock, Nadeem & Robert Pretcher are investors, and some of them extremely rich. Check Mike, Nadeem and Roberts predictions from the past two years, they are very very accurate. I'm not saying they are right now, but
6. You are making irrational statements, but providing no facts, nor dispute the list of facts I've said. Just gone down the route of these people are scaremongers and putting exagerated domsayer words in their mouth which they have never said.

Millionaire, entrepreneur and Channel 4 chairman also doesn't have the best outlook either.
http://www.youtube.com/watch?v=ZYY2OcvP_XU

setmefree2

Just been over to HPC.

First headline:-DAILY MAIL
"Yes Britain is screwed, it is failing the fastest and hardest of all (excluding iceland of course)"


:rotfl::rotfl:

StevieJ

chrisweb wrote: »

I'm not ignoring whats been posted, I said bankruptcy is a possibility, just like it is possible it will not happen. I wouldn't want to bet eitherway, but I certainly don't see bankruptcy being ruled out.

Are you calling it an even bet

If a country is doing worse than the UK, it doesn't mean that the UK is not among the worst or doing badly, and that it still can't go bankrupt. Iceland was considered a rapidly growing economy not long before it went bankrupt.

Iceland Was Tiny, totally dependent on banks,

The cost to insure UK government debt against bankruptcy has gone up by 63% recently (and possibly more since):
http://www.thisismoney.co.uk/news/article.html?in_article_id=459038&in_page_id=2

63% of very low

Thee are the sort of facts not being mentioned on the BBC. The facts that can only really point to an increased risk (but not certainty) of UK bankruptcy

When the U.K faced bankruptcy in 1975 and needed a bailout by the IMF to get through it, I'm sure 1 year before it was not the worst economy in the world.

We were called the sick man of Europe

Maybe you are insulting my intelligence and saying I live in a different world to everyone else because you think I'm predicting certain economic ruin with images or riots, looting, a barter economy, and people taking money around in a wheel barrel? While UK bankruptcy is not good it is not necessarily the end of the UK economy

Not quite with you there, are you or are you not predicting economic ruin?

.

Oh my God, even the Maily Dail, quotes this:

Experts emphasised the likelihood of the UK defaulting on its debts was remote.

chrisweb

setmefree2 wrote: »

So - you believe the UK is going bankrupt. So what's your investment strategy? Have you started stocking up on food? Bought loads of gold bars? Bought a house?

I don't beleive it is, I just consider it a possibility, nor am I predicting economic and society meltdown if bankruptcy does occur - UK went bankrupt in 1970s and life in the UK was good after that. Not to say bankruptcy is a good thing, certainly no - but it doesn't mean the end of the UK economy either as you are implying I'm suggesting.

But to answer your question. I'm planning to buy a house in 2010. I've invested in gold and made some money, now solid because of advice from 3 trusted sources: Nadeem W, Mike S & Robert Prectcher that it will go down due to deflation, but I plan to rebuy at some point.

I'm diversifying my savings in a few other currencies (U.S dollar for mainly) which has worked out really well.

Still holding sterling savings, mainly in fixed rate ISAs I got before rate cuts. Got a 7% fixed rate one until Dec.

My main concern about the UK economy is big tax rises after the next election.

StevieJ

chrisweb wrote: »

I don't beleive it is, I just consider it a possibility, nor am I predicting economic and society meltdown if bankruptcy does occur - UK went bankrupt in 1970s and life in the UK was good after that. Not to say bankruptcy is a good thing, certainly no - but it doesn't mean the end of the UK economy either as you are implying I'm suggesting.

UK has never defaulted on its debt :T

setmefree2

chrisweb wrote: »

I don't beleive it is, I just consider it a possibility, nor am I predicting economic and society meltdown if bankruptcy does occur - UK went bankrupt in 1970s and life in the UK was good after that. Not to say bankruptcy is a good thing, certainly no - but it doesn't mean the end of the UK economy either as you are implying I'm suggesting.

But to answer your question. I'm planning to buy a house in 2010. I've invested in gold and made some money, now solid because of advice from 3 trusted sources: Nadeem W, Mike S & Robert Prectcher that it will go down due to deflation, but I plan to rebuy at some point.

I'm diversifying my savings in a few other currencies (U.S dollar for mainly) which has worked out really well.

Still holding sterling savings, mainly in fixed rate ISAs I got before rate cuts. Got a 7% fixed rate one until Dec.

My main concern about the UK economy is big tax rises after the next election.

Well I have to say we have had quite a few HPCers on this board and funnily enough they have the same investment strategy as you - amazing.;) There's going to be quite a stampede in 2010... and that's quite a gold bubble you've all got going

chrisweb

setmefree2 wrote: »

Well I have to say we have had quite a few HPCers on this board and funnily enough they have the same investment strategy as you - amazing.;) There's going to be quite a stampede in 2010... and that's quite a gold bubble you've all got going

Did you miss the bit where I said I have sold the gold? I also think it is currently over-priced. The oil-gold price ratio can tell you that on its own.

What are you doing?

setmefree2

chrisweb wrote: »

What are you doing?

Watching the BBC news;) and no they didn't mention UK bankruptcy