So, 2015............who wants to make some bets?

[Mega]

While i don't think this is "The year we get the EVENT"....i do think we are close. The UK Pension funds are screeming that they are in BIG troubles........since WW2 the average UK rate has been about 6.5%.

However YEARS of almost ZIP has bitten hard into them, most are in BIG trouble. "They" love to hold rates at ZIP but something has to give. After the election in May we going to see a fresh round of cuts (YYEESS) & taxes (NO !)

When the last goverment left power we were £700 billion in debt, it took 11 years to get there in 4 we taken the debt to £1.4 TRILLION!.........for me the BIG question is to whom do we owe this money to?

If its ourselves well a case can be made for simply not paying it, however if its overseas credit-ers then we have a "Problem". The big worry is also Northsea oil production, resently it fell to a level not seen since 1977. The "easy" oil/Gas has gone......now its very tough to get stuff. Oil @ $65 made it just about pay........anything under that & forget it.

I guess its a question of how long we see Oil prices crushed?.........over a year & the Northsea will simply be lost, as it stood it required £1 TRILLION in investment, which it simply will not get....any invester would be worried about another crash in the Oil price thus i suspect we see a an exodus from the Northsea............once gone it would be very hard to bring back into service any wells....


So, i expect 2015 to be the year of MEGA de-valued £.........a real slide into recession (in the middle of a depression!)...........Oh what joy the Bankers have bought us all..........

Mike

[GRG55]

Re: So, 2015............who wants to make some bets?

While i don't think this is "The year we get the EVENT"....i do think we are close. The UK Pension funds are screeming that they are in BIG troubles........since WW2 the average UK rate has been about 6.5%.

However YEARS of almost ZIP has bitten hard into them, most are in BIG trouble. "They" love to hold rates at ZIP but something has to give. After the election in May we going to see a fresh round of cuts (YYEESS) & taxes (NO !)

When the last goverment left power we were £700 billion in debt, it took 11 years to get there in 4 we taken the debt to £1.4 TRILLION!.........for me the BIG question is to whom do we owe this money to?

If its ourselves well a case can be made for simply not paying it, however if its overseas credit-ers then we have a "Problem". The big worry is also Northsea oil production, resently it fell to a level not seen since 1977. The "easy" oil/Gas has gone......now its very tough to get stuff. Oil @ $65 made it just about pay........anything under that & forget it.

I guess its a question of how long we see Oil prices crushed?.........over a year & the Northsea will simply be lost, as it stood it required £1 TRILLION in investment, which it simply will not get....any invester would be worried about another crash in the Oil price thus i suspect we see a an exodus from the Northsea............once gone it would be very hard to bring back into service any wells....


So, i expect 2015 to be the year of MEGA de-valued £.........a real slide into recession (in the middle of a depression!)...........Oh what joy the Bankers have bought us all..........

Mike

Cheer up Mega! Things could be a lot worse. For example, you could be French :-)

England was an Empire long before North Sea oil.

My bet for 2015 is that USA and UK economies will be among the two strongest performers worldwide.

Happy Christmas!!

[Mega]

Re: So, 2015............who wants to make some bets?

"England was an Empire long before North Sea oil."

We where FINSHED!..........the IMF came in 1976 to bale us out !!!!!!!!!!!!!!!!!!! without Northsea oil we would have totally collasped !!!!!!!!!!!..........& our debt was like nothing as bad as it is now!

The days of Empire (turning up one morning, pointing a gun at a bloke in a grass shirt in an overseas land & saying "GIVE ME" are long over).

Mike

[GRG55]

Re: So, 2015............who wants to make some bets?

"England was an Empire long before North Sea oil."

We where FINSHED!..........the IMF came in 1976 to bale us out !!!!!!!!!!!!!!!!!!! without Northsea oil we would have totally collasped !!!!!!!!!!!..........& our debt was like nothing as bad as it is now!

The days of Empire (turning up one morning, pointing a gun at a bloke in a grass shirt in an overseas land & saying "GIVE ME" are long over).

Mike

Apparently sombody forgot to tell Putin those days are over.

[Mega]

Re: So, 2015............who wants to make some bets?

http://www.dailymail.co.uk/debate/ar...armongers.html
Mike

[Mega]

Re: So, 2015............who wants to make some bets?

My God, its come to this !!!!!!!!!!!!!!

Britain edges past France on world stage

UK economy, boosted by the inclusion of sex and drugs in national accounts, overtakes France by a whisker to become the world's fifth largest economy

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Official estimates show prostitution added about £5.7bn to the UK economy in 2013, while illegal drugs were worth about £6.62bn.









By Szu Ping Chan

11:05AM GMT 26 Dec 2014

505 Comments


Britain has overtaken France to become the world's fifth largest economy, new analysis shows.

A shake-up of the national accounts this summer, which showed the UK's downturn during the Great Recession was shorter and shallower than previously thought, helped Britain overtake the Gallic economy by a whisker this year.

The Centre for Economics and Business Research (CEBR) said Britain's acceleration was also boosted by the inclusion of sex and drugs to UK growth. While the addition of prostitution and illegal drugs form part of new pan-European accounting standards, France has refused to comply with EU rules because it does not consider them to be "voluntary commercial activities".

Eric Dubois, a director at INSEE, France's statistics office, has described drug use as a "dependency" that does not involve "free will". He said prostitution was the result of "Mafia networks and trafficking illegal immigrants".

Official estimates show prostitution added about £5.7bn to the UK economy in 2013, while illegal drugs were worth about £6.62bn.

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This helped the UK to overtake France by the narrowest of margins, the CEBR's analysis showed. UK gross domestic product (GDP) is expected to total $2.828 trillion (£1.816 trillion) this year, compared with French GDP of $2.827 trillion.
The CEBR expects Britain to pull further ahead of France in the coming years. This is despite concerns about the sustainability of the UK recovery raised after further data revisions this week showed growth in five out of the previous six quarters was weaker than thought.
Nominal UK GDP is expected to grow to $2.95 trillion in 2019, compared with $2.67 trillion in France.

The French economy has barely grown this year, while the eurozone is at risk of slipping into a deflationary spiral that economists have said may lead to a Japanese-style "lost decade". Britain is also still on course to leapfrog Germany to become Europe's top economy by 2030, helped by its younger workforce and position outside the eurozone.

China is expected to overtake the US as the world's largest economy in 2025. The country added almost £200bn to the size of its economy with the stroke of a pen this month, after revising its accounts to take into account new census data.

Despite recent jitters in emerging markets, the CEBR said China, India and Brazil would continue to catch up with the developed world. It described India's rise and young workforce as "unstoppable".

The country is expected to overtake the UK in 2018, and Japan in 2025 to become the world's third largest economy. "The figures show the dramatic changes taking place in the world's economic geography," said Douglas McWilliams, chief executive of the CEBR.

The figures also showed the impact of the economic crisis in Russia, which slipped two places in the 2014 league table to tenth, back below India and Italy.

[Mega]

Re: So, 2015............who wants to make some bets?

I see, we replaced Northsea oil/Gas with Drugs & Whores...........

[Ghent12]

Re: So, 2015............who wants to make some bets?

I find this to be absolutely amazing in every respect. I simply cannot fathom the audacity of the bureaucrats and wonks who concluded that this way of measuring the economy was the right way to go. Were they looking for the cheapest and easiest ways to reduce their credibility the fastest?