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Out of order

In a private note to clients, apparently investment bank Numis Securities has warned the UK will be bankrupted by the government’s bailout policies and that house prices could fall a further 55%.

Numis seems to have learnt nothing from media coverage of the UK’s economic challenges in the last 18 months, ignoring the self-fulfilling-prophecy arguments and opting instead to throw petrol on the fire.

Such reports should come with a health warning as nobody knows what is going to happen. I defy anyone to prove they were able to accurately predict the events we have seen.

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