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Old Tezza Smith – Tullett Prebon – Another Ray Of Reality On The Beeb.

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I heard him. I was very pleased with good'ole Terry. He did a fantastic job, especially stopping the presenter and saying "it doesn't matter, a recession will happen anyways".

Good man.

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We can't have the reality of our predicament broadcast on our state media like this. What were the BBC thinking, allowing truth to reach the masses in this way? This sort of realism has no place in the society we have become - people need to be protected from the ugly truth. Black = White etc.

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most people have so much vested in things staying as they are and would have switched over or blocked it out in some way or another but he did a grand job and it just came out beautifully clearly and logically barely interrupted by the presenter. Covered the cuts particularly well, the necessity for more of them and that we haven't even started yet, nice mention of people on IO mortgages keeping the fantasy alive as well. And very nice not to have 4 bulls for 1 bear opposing for "balance", facts is facts so let them speak for themselves. Made my morning. Which is pretty sad when you think about it :( Not that i'm cheering on the demise or our nation of course just realising we need to understand the problem so we can start working toward a solution rather than digging ourselves deeper into debt.

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Link to very bearish piece this morning on the Today Programme.......

Including the HPC classic catch phrase "Kicking the can down the road".

http://news.bbc.co.u...000/9550990.stm

Fits in very nicely with the Tullett Prebon report (AKA where is the growth going to come from as we can see where it is going to come from) from Wednesday that was pretty bearish and got a good airing on the forum.

I particularly liked the bit about the difference between reported and actual GDP increase, another giant animal coming home to roost.

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I love the way the presenter interjected with, "and it [the public sector] is shrinking!" They believe their own rhetoric about cuts.

and in reply Terry pointed out "the cuts have yet to start biting"...

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Excellent. I like how he links the extra 300k interest only mortgages since 2008 to the fantasy of affluence in the UK

4:15 on, nails the 'cuts' nonsense.

'absolutely unsupportable pension liabilities'

'One thing is worse than fear- living in fantasy- sooner or later you have to grasp reality'

A must listen

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Tullett Prebon operates as an intermediary in wholesale financial markets facilitating the trading activities of its clients, in particular commercial and investment banks

http://www.tullettprebon.com/index.aspx

He thinks it's better if we face our problems but also that we are fortunate that we can devalue the currency. Isn't one the opposite of the other? Devaluing is extending and pretending.

This bloke loves the Tories, hates Labour, thinks that the sun shines out of the arses of bankers and wants more QE because it increases living costs for the public but hands free money to the financial sector.

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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