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This made me late for work on Friday ... Radio 4 Today at Breakfast, chap called Terry Smith, chief executive of Tullett Prebon just over 6 minutes. I think it is well worth a listen: http://news.bbc.co.uk/today/hi/today/newsid_9550000/9550990.stm ... start talking about UK from about 3 mins

Starting off talking about Italy and "kicking the can"

then moves on to the start of the credit crisis

moving onto UK and how we can devalue our currency and pay with devalued bank notes

how since the credit crisis started over 300,000 people have moved from repayment to interest only mortgages, that people are "a lot poorer" but just don't see

a few stunned silences and trying to work out what is being said and how to counter it

how our cuts have not even started (in fact how the government spending is STILL growing)

how we would be betting off by "fessing up" to the situation

mentioning a lot about lower standard of living and pensions are "unfundable"

presenter says something like talking about a recession will make it happen so best not to talk about it but interviewee says best not to "live in fantasy" and to get on and grasp reality

a few cheeky little investment tips at the end

Terry Smith's blog http://www.terrysmithblog.com/

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Haha! I like his style - "You asked me a question. I've answered it. Next!"

edit: R4 have had some good stuff on the markets the past few days. Can anyone find the link for Stephen Roche (Roach?) of Morgan Stanley on the lunchtime news a couple of days ago? He put a strong anti-Obama case on the debt ceiling debate.

Edited by okaycuckoo
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