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munimula

The Fleet Street Letter

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Does anybody subscribe to The Fleet Street Letter? Are they usually this bearish?

Just got a promotional 'Special Forecast Issue' in the post.

Titled 'Britain Under Economic Attack!'

'Welcome to life in Britain on the Brink'

Forecast No1.

Oil price catastrophe! Think $60 oil is expensive? Try $100 by July 2006

'The thing that makes this situation different from previous oil crises is there is no logical reason for the oil price to stop rising this year - or in fact ever!'

'..unless there's a sudden outbreak of world peace..a massive cessation of global growth...and an unprecedented rate of new oil discovery...$50 per barrel will seem like a steal in a year's time. There are plenty more record highs left for black gold.

Solution:

Exploit rising energy prices by investing in UK utilities

Forecast No2.

The pound in your pocket losing 20% of its value! Why the pound is set to take a pounding in 2006

1. New Labour's spending binge will hurt the UK economy and its currency

2. Interest rate cuts will remove one of the pounds main props

3. A house price reversal will hammer the pound

'A classic cyclical shock is already unwinding in the shape of falling house prices....The end of the property boom in 2006 is perhaps the final nail in the coffin for a strong pound. Over the last 45 years every housing crash has sent unemployment up at least 40% and caused the economy to contract at least 2%...Each of the last three housing downturns has impacted on household spending, unemployment and GDP in a major way. If house prices are dramatically lower throughout 2006 - and The Fleet Street Letter thinks they will be - then the UK will almost certainly slip into recession...sterling is looking expensive, with some models implying overvaluation by about 20% against the US dollar.

Solution:

Buy and hold gold to defend yourself against the falling pound

Forecast No3.

Stock market crash by Easter! Learn why we believe the stock market MUST fall by March next year'Diminishing consumer spending and soaring oil prices will spell disaster for the US equities in the first half of next year'

Forecast No4

Profit from the coming debt disaster! Why a mountain of debt will come crashing down on UK consumers.'Debts are currently rising by £1m every four minutes...Despiste five interest rate rises since Nov 2003, people are still borrowing more than they can comfortably afford to repay. Therefore, we are facing a 'credit crunch' of historic proportions.'

Don't think there is anything new here for the HPC regulars but all the bad news in one place! Don't agree with their assumption that IRs will be cut but other than that everything else looks like fair game

Edited by munimula

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Had not seen this, but now I've read it - its scary. Questions to the experts on here. How can anyone protect themselves from the falling pound? Buy gold? Whats the best way for a small private investor to buy gold? Mutual funds in Gold mining companies?

If the stock market does go down next year what fund would be the best for a pension and is there a gold related pension fund??

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No fund is good for a pension!

The Funds rip the **** out of their investors for fees, mismanage the assets and, whatever is left, is taxed into oblivion!

When the dividend tax relief was scrapped the general performance went down the pan even with the 40% tax relief on contributions.

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Had not seen this, but now I've read it - its scary. Questions to the experts on here. How can anyone protect themselves from the falling pound? Buy gold? Whats the best way for a small private investor to buy gold? Mutual funds in Gold mining companies?

If the stock market does go down next year what fund would be the best for a pension and is there a gold related pension fund??

ok.a falling pound is good news if you are invested in countries where growth will outpace GB.

US is ok for now,but worth bearing in mind they have a housing bubble too,and when they feel the heat,then they will weaken the dollar,so buying dollars and then converting back to sterling in a couple of years might make you 10%

my bet is buy yen...the jap economy is big,does not have a housing bubble to worry about,the companies are gaining market share from the yanks,and there are lots of reforms under way......oh and DEflation which they had for 7 years is about to end,and a little bit of inflation is healthy.

good long term....and yen will strengthen as a result.,so when I re-convert mine in a few years,I will get much more pounds for my yen than I do now.

as for gold,if you are a novice I would suggest merrill lynch gold and general fund(and wrap it in an ISA)

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No fund is good for a pension!

The Funds rip the **** out of their investors for fees, mismanage the assets and, whatever is left, is taxed into oblivion!

When the dividend tax relief was scrapped the general performance went down the pan even with the 40% tax relief on contributions.

Oh. There was a thread on here a few days ago about STRers sticking a large amount of their income into a pension to avoid the tax. Yes I know you have to pay it when you recieve the pension but at least some of it will be a 25K tax free lump sum. And as a pensioner I think your tax allowance is higher.

Yes I know Gordon 'its all gone quiet over there' Brown has been raiding our pension funds but surely on a stakeholder you are ok?

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  • 335 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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