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The End of Britain

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StormerBoy
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#1

Posted 19 November 2013 - 08:45 PM

Well worth watching this video.

 

http://info.moneywee...ritain-video-2/

 

What are your thoughts?


Raavi
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#2

Posted 19 November 2013 - 09:06 PM

Sensationalist fear mongering geared towards the economically illiterate. Meh I've seen worse marketing.


Frank Brown
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#3

Posted 19 November 2013 - 09:09 PM Edited by Vlynor, 19 November 2013 - 09:10 PM.

Sensationalist fear mongering geared towards the economically illiterate. Meh I've seen worse marketing.

 

At least their Debt to GDP chart is from a reliable source. That's all the video said, "the U.K. has a f*ckton of debt and if something's not done, it's going to be bad", basically. Nothing really new.


Moonshield
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#4

Posted 19 November 2013 - 09:20 PM

Good riddance.


D- Ice
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#5

Posted 19 November 2013 - 09:31 PM

I regrettably watched through most of that a few days ago after seeing the advert on Youtube.

It is nothing more than sensationalist, alarmist and likely dishonest advertising for a financial magazine called MoneyWeek.

Just thought I'd save others from wasting their time on it.

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sivispacem
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#6

Posted 19 November 2013 - 10:54 PM

Sensationalist fear mongering geared towards the economically illiterate.


Couldn't in a million year have put it better myself.

GrandMaster Smith
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#7

Posted 19 November 2013 - 11:09 PM

Can anyone actually explain why it's wrong?

 

Other than just calling it nonsense, why is it nonsense?


Max
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#8

Posted 19 November 2013 - 11:14 PM

Can anyone actually explain why it's wrong?

 

Other than just calling it nonsense, why is it nonsense?

For starters it attempts no objective analysis of the British government's current exit strategy instead dismissing it as either lies, an impossibility or simply not mentioning it at all. It doesn't debate the position rather than set viewers up with terrifying statistics and historical examples only to push certain financial investments at the end.


GrandMaster Smith
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#9

Posted 19 November 2013 - 11:22 PM

Well how are you supposed to get out of debt when you just have to borrow more money with interest to pay off the money you already owe? It seems it's inevitable that the financial system will crash..

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sivispacem
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#10

Posted 19 November 2013 - 11:27 PM

To add to the above:
 
1) It extensively uses illogical comparisons based on arbitrary statistics. The discussion of Japanese economic stagnation is topical, but isn't related to their debt level but lack of profitability in international markets for instance.
2) It extensively descends into logical fallacy, mostly issues deriving from correlation versus causation but also begging the question and appeals to emotion using analogies based on personal finances which don't make sense in the context of macroeconomics.
3) The representation of their form of Euroscepticism rests on half-truths and deliberate obfuscation. The EU release substantive figures for member nations that are open to independent oversight yet there's no reference to these figures given in the video or any of the "sources", which are all vague and far below the standard that would be deemed suitable for an academic paper at even the lowest level.
4) Their appeals to emotion in the introduction (we were right about x, y ect) are extremely misleading. Claiming that they are an authority on the issue of macroeconomics because they suggested people put money in gold is absurd given that the fastest growing commodities sector over the last decade is rare earth metals, followed by the white precious trinity of Rhodium, Palladium and Rhenium. It would be the logical equivalent of saying "believe me, I know what's best because I bet on the third placed horse at the Gold Cup".

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Mr. House
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#11

Posted 19 November 2013 - 11:34 PM

Well how are you supposed to get out of debt when you just have to borrow more money with interest to pay off the money you already owe? It seems it's inevitable that the financial system will crash..

 

Replace plastics with Investment. Unless one government decides to invest in plastics, in which case take the video at face value.





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