When Do We All Withdraw Our Investments and Savings?

Hi all,

I've got a size-able saving in my current account and I'm looking to invest in stocks and shares. Currently my only investment (first little try) is in the FTSE All Share (Currently +16% in only a few months) and Invesco Perpetual (about the same). With most countries debt raising at an uncontrollable rate, at what point will the country and all our investments no-longer be ours or be worthless like what's happened in Greece, Argentina, Iceland etc in the past? How long have we got left before our country goes bust and all our savings and investments taken away from us? Does nobody else share this concern? An interesting article below highlights my sentiments. I'd like to hear people's thoughts and feelings on this.

moneyweek.com/endofbritain
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Replies

  • dunstonhdunstonh Forumite
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    How long have we got left before our country goes bust and all our savings and investments taken away from us?

    It has a very long way to go to get to that stage. The UK debt situation has been a lot worse in history.
    An interesting article below highlights my sentiments. I'd like to hear people's thoughts and feelings on this.

    moneyweek.com/endofbritain

    oh dear. The minute you said moneyweek a lot of forum readers would switch off. Awful publication.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • OnawingandaprayerOnawingandaprayer Forumite
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    Hi all,

    How long have we got left before our country goes bust and all our savings and investments taken away from us?


    Next Tuesday I understand, or Wednesday if wet.
  • Sorry, I'm new to all this investment stuff and wary of the current economic climate. The US cannot have long left and when they go everyone else will won't they? Obviously even if there is a long time left as you said (without indication as to roughly how long?), the point I'm making is obviously if someone waits till that point then it is already too late to withdraw their investments or will withdraw significantly lower than they had invested.

    How long do you think before the markets etc start to take a hammering due to the US and UK debt levels?
  • Even if MoneyWeek is an awful publication, their facts are facts and so cannot be argued with. Or are you saying their facts and figures are wrong dunstonh?
  • dunstonhdunstonh Forumite
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    Even if MoneyWeek is an awful publication, their facts are facts and so cannot be argued with. Or are you saying their facts and figures are wrong dunstonh?

    Their facts and figures can be argued with. Selective information taken out of context and repeated by them continuously. They fail to adjust for inflation or put the numbers in context to the size of the economy. Those two things are typically used in the media to create a scaremongering style article.

    Things that should put you on guard is that the article was written not by a economist but the marketing department for the magazine. It's purpose is to get you to subscribe. Another ploy they use is their multiple years prediction of a property crash.

    There is plenty of criticism on the web. Here are just a couple:
    http://coppolacomment.blogspot.co.uk/2013/01/the-end-of-britain-not-yet.html
    http://anotherangryvoice.blogspot.co.uk/2013/01/moneyweek-and-their-end-of-britain.html
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • ChesterDogChesterDog Forumite
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    The UK government is reducing the deficit, inflation is nibbling away at the debt. Many economic indicators are pointing the right way. There are hurdles ahead certainly - the ending of QE, lingering problems in the Eurozone, the sheer size of UK debt and others.

    The problems may yet trip us up, but MoneyWeek is alarmist.

    We need the deficit eliminated, the debt reducing, QE just a memory, interest rates ahead of inflation and a recovery in Europe. It can be done.

    MoneyWeek ought to know one of the most important rules of critical thinking, which is that when someone tells you something is certain...

    And if the worst happens? What use will having your savings stashed under the bed and decimated by hyperinflation, with no goods to buy anyway be?
    I am one of the Dogs of the Index.
  • WilkinsWilkins Forumite
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    The most salient facts about Moneyweek are that they will say anything to get you to subscribe and cherry pick random economic data.

    If civilisation were about to end, do you really think they would have a solution?

    If you don't like the idea of risk then don't invest.
  • ChesterDogChesterDog Forumite
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    That reminds me, a friend pointed me at that MoneyWeek advert, sorry 'article'. When I did a cursory check, I found they were comparing UK total debt with historic government-only debt of Argentina et al and so deliberately causing a vast distortion of the comparators.

    So much for facts.
    I am one of the Dogs of the Index.
  • ColdIronColdIron Forumite
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    Haven't moneyweek predicted 50 of the last 2 downturns?
  • CraterCrater Forumite
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    I got a copy of that in the post and chucked it unopened. When a magazine cold-mass-mails like that they are looking for a mas market and will tend to write scare stories, which can indeed be done with real facts. I think bad things will happen in the future, but we don't know when and they might not. Recent reading shows two things (a) Europe has been in all sorts of messes before and has survived (b) total chaos happens when there are people there who want it to happen, and they will jump on any opportunity with no warning to the rest of us (x ref 1WW). Deduction: very few people will know what is happening till after it does, and they won't be telling.
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