Wednesday, Sep 29, 2010
Slightly on the bearish side!
FT: Warning that UK could slide into economic abyss
The UK is currently experiencing a depression or, depression-like conditions, according to a strategist for Charles Stanley.... Mr Batstone-Carr said the economic crisis of 2008 and 2009 meant the good times for investors were now over and compared the current economic situation to the depression of 1932. He said: "I think we are frankly in conditions if not depressionary we are pretty damn close to it. "If we were not a welfare state we would see people shuffling about with cardboard boxes on their feet."
Posted by jack c @ 10:19 PM (1584 views) Add Comment
14 Comments
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1. techieman said...
jack "He said the best way to combat the economic conditions was to buy triple ............. gold ..................."
shhhhh dont mention anything to GC....
2. jack c said...
I think general congreve mentioned Gold once but he got away with it
www.youtube.com/watch?v=7xnNhzgcWTk
3. sureseam said...
But, but this can't be right: I keep being told we're in recovery and to go spend.
4. titaniccaptain said...
Someone say Gold?..... :-)))))))
5. titaniccaptain said...
The Lyrics are very topical and have great meaning and relevance to the gold market.......well they do after 12 cans of Stella and 3 joints!
Thank you for coming home
I'm sorry that the chairs are all worn
I left them here I could have sworn
these are my salad days
slowly being eaten away
just another play for today
oh but I'm proud of you, but I'm proud of you
there's nothing left to make me feel small
luck has left me standing so tall
gold
always believe in your soul
you've got the power to know
you're indestructible
always believe in, because you are
gold
glad that you're bound to return
there's something I could have learned
you're indestructible, always believe in
after the rush has gone
I hope you find a little more time
remember we were partners in crime
it's only two years ago
the man with the suit and the pace
you know that he was there on the case
now he's in love with you, he's in love with you
love is like a high prison wall
but you could leave me standing so tall
gold
always believe in your soul
you've got the power to know
you're indestructible
always believe in, because you are
gold
glad that you're bound to return
there's something I could have learned
you're indestructible, always believe in
(musical interlude)
for love is like a high prison wall
and you could leave me standing so tall
Gold
always believe in your soul
you've got the power to know
you're indestructible
always believe in, because you are
gold
Glad that you're bound to return
There's something I could've learned
you're indestructible
always believe in
6. jack c said...
@sureseam - I have just been informed today that we are not in recovery, we are in the recovery position (subtle difference) and it's everyone's duty to go out and adopt the Vivian Nicholson position (http://en.wikipedia.org/wiki/Viv_Nicholson).
I'm now off to Tesco (24 Hour store) to spend £10K on a 137" 3D Sony flat screen TV to do my bit for my country - I would urge everyone else to do the same and fear not when your money runs out as you can always make ends meet by cancelling your car insurance, house insurance, life insurance, pet insurance and pension plan etc...
7. general congreve said...
@1 - Too late Techieman, caught it on a 1am HPC drive by! Got Gold B1tchezzz?!?!?!
8. alan_540 said...
Maybe this site ought to be re-christened GPB a.k.a. Gold Price Bubble?
9. drewster said...
jack c,
In future could you please distinguish between FT and FT Adviser? I have a lot of respect for the FT; their articles are well-written and carefully thought out. By contrast the FT Adviser seems to consist mainly of press releases from dubious financial services companies. It's strange, given that they are both from the same parent company.
10. slartibartfast said...
It's overly pessimistic. But I'm getting a wind of change feeling in the air.
Someone bucking the IMF/Euro trap and defaulting could kick start something really big.
11. hpwatcher said...
GOLD - gold anyone say gold?
12. estrader said...
@ alan_540,
Maybe. Gold hit the bottom of a 20 year bear market only around early 2000 and Silver only recently hit a 30 year high. IMO we are probably in the late stages of the "Awareness" phase and approaching the 'media attention' zone, and this isn't even counting mainstream media! The bear market lasted a long time and gold is still around 50% below its inflation adjusted high, my guess is we are nowhere near a bubble yet. In property terms we are probably around the year 1980.
I was investing in stocks and shares long before the tech bubble. Few people I knew talked about shares or were even interested in the stock market when I started, by the peak of the tech bubble, almost everyone I knew had a stock to recommend for me. Very few people I know are talking about gold, in fact the only person who has mentioned gold was a seller! He took his 'junk' gold to one of those dealers and he couldn't believe how much they paid for it...some of it was broken!
13. hpwatcher said...
8. alan_540 said...Maybe this site ought to be re-christened GPB a.k.a. Gold Price Bubble?
I think you need to open your eyes a bit.
If you want bubbles look at bonds and equities. Now there are two REAL bubbles.
14. jack c said...
@drewster (Thursday, September 30, 2010 01:38AM) - yes I will in future post the source as FT Adviser. Alternatively I could refrain from posting any articles from this source if the content is generally to be thought dubious.