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Thread: The End of Britain? Money Week's chilling warning

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    Politics.ie Member Happytolearn's Avatar
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    Default The End of Britain? Money Week's chilling warning

    I read this article

    The End Of Britain

    Lots of pretty scarey language used - could be seen as pretty sensationalist - but an interesting read all the same.

    They're basically saying:

    - Britain is third only to Japan and (rather depressingly) Ireland in its debt rate

    - The welfare state, started by Llyod George in 1909 with a 5 shilling pension payment to males over 70, has spiraled out of control

    - Successive governments since have promised more and more as the electorate will simply vote out those who attempt to fix the worsening problem. This results in political parties offering unaffordable 'cradle to grave' welfare.

    - Growing population, increasing life expectancy, NHS costs and Britain's 'unfunded obligations' make its debts 900 billion

    - In spite of the current Coalition's austerity scheme the debt is in fact increasing

    - Debt is becoming endemic in every section of UK society

    - Britain is broke and would have been made bankrupt long ago were it an individual. Once interest rates rise back to normal levels it won't be able to repay its debts. Interest rates are certain to rise significantly in the coming 30 years

    - Since the IMF bailout in the 70's Britain's debt has multiplied 12 times over (I'm not sure if that's in real terms)

    The article goes on to show a step by step guide to how the end could very possibly come - comparing the UK to Argentina.

    Is it scaremongering? How much of it is irrefutable?
    I'm a better man now than I was that day

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    I'm goin out on a limb and calling Eastleigh for UKIP!

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    Politics.ie Member Clanrickard's Avatar
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    Quote Originally Posted by Happytolearn View Post
    I read this article

    The End Of Britain

    Lots of pretty scarey language used - could be seen as pretty sensationalist - but an interesting read all the same.

    They're basically saying:

    - Britain is third only to Japan and (rather depressingly) Ireland in its debt rate

    - The welfare state, started by Llyod George in 1909 with a 5 shilling pension payment to males over 70, has spiraled out of control

    - Successive governments since have promised more and more as the electorate will simply vote out those who attempt to fix the worsening problem. This results in political parties offering unaffordable 'cradle to grave' welfare.

    - Growing population, increasing life expectancy, NHS costs and Britain's 'unfunded obligations' make its debts 900 billion

    - In spite of the current Coalition's austerity scheme the debt is in fact increasing

    - Debt is becoming endemic in every section of UK society

    - Britain is broke and would have been made bankrupt long ago were it an individual. Once interest rates rise back to normal levels it won't be able to repay its debts. Interest rates are certain to rise significantly in the coming 30 years

    - Since the IMF bailout in the 70's Britain's debt has multiplied 12 times over (I'm not sure if that's in real terms)

    The article goes on to show a step by step guide to how the end could very possibly come - comparing the UK to Argentina.

    Is it scaremongering? How much of it is irrefutable?
    Has been discussed before on p.ie. Swivel-eyed libertarian ranting.

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    Politics.ie Member Happytolearn's Avatar
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    Quote Originally Posted by Clanrickard View Post
    Has been discussed before on p.ie. Swivel-eyed libertarian ranting.
    Money Week in general?
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    Moderator rainmaker's Avatar
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    Quote Originally Posted by Happytolearn View Post
    I read this article

    The End Of Britain

    Lots of pretty scarey language used - could be seen as pretty sensationalist - but an interesting read all the same.
    Is it scaremongering? How much of it is irrefutable?
    It's not really an 'article' as such - It's a scary by design advert for their subscription service that they've used before - I actually had to check the date of the OP as this 'revelation' was also used & discussed last year.

    Apparently subscribing will help you to avoid this nightmare scenario
    I am in line for a smiting probably sooner than I expect. Apparently.

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    Politics.ie Member Clanrickard's Avatar
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    Quote Originally Posted by Happytolearn View Post
    Money Week in general?
    No the article.

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    Politics.ie Member Happytolearn's Avatar
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    Quote Originally Posted by rainmaker View Post
    It's not really an 'article' as such - It's a scary by design advert for their subscription service that they've used before - I actually had to check the date of the OP as this 'revelation' was also used & discussed last year.

    Apparently subscribing will help you to avoid this nightmare scenario
    I had read their 'Europe is going to end' article - They seem so sure of themselves and claim they've got previous crashes correct. I always get sucked in by colourful scary adverts.
    I'm a better man now than I was that day

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    Moderator rainmaker's Avatar
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    Quote Originally Posted by Happytolearn View Post
    I always get sucked in by colourful scary adverts.
    To be fair that one is extremely misleading & I have wondered if it breaches advertising guidlines.
    I am in line for a smiting probably sooner than I expect. Apparently.

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    Politics.ie Member stopdoingstuff's Avatar
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    Maybe it is sensationalist but the kernel of truth is that no one can live beyond their means forever and the great era of consumption without production is coming to an end.
    Faoi mhóid bheith saor

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    Quote Originally Posted by Happytolearn View Post
    I read this article

    The End Of Britain

    - Growing population, increasing life expectancy, NHS costs and Britain's 'unfunded obligations' make its debts 900 billion
    Not even close, it is almost £5 TRILLION and that is before forward pension provision. Then again, forward pension provision is the problem for the entire global financial system.

    This is well worth a look....Britain's Trillion Pound Horror Story - Channel 4

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