Published on February 23rd, 2010 | by Tom Wake0
Review: Thrive in the Meltdown – Leo Crosrite
by Charlie Wright
A reader has been asking me about the latest financial doomsayer on the scene. His name is Leo Crosrite (a pseudonym, apparently, and one that looks, at first glance, like ‘Creosote’ ).
He has been sending out mailshots – you may have seen one – that say “Read this or die poor. You could be forgiven for reading this… screaming round your living room for an hour shouting, “We’re doomed”…. driving away in your car…. and speeding into the path of an incoming train.
But what Crosrite is really saying is this:“The media, the government and the financial institutions are obsessed with the idea of recovery. They are ignoring the dangers of a second economic meltdown.”
And this could well be true. The threat of a double-dip recession is real. The debt problem hasn’t gone away. Property could still be overpriced. If banks are forced to pay back the money lent to them, then lending could dry up again. Never mind the decline of the City as the financial powerhouse that drove the UK economy.
I’m just a layman when it comes to complicated financial matters, but even I can see we’re nowhere near out of the woods. Neither do I trust the media, the government or big institutions to tell us the truth, or protect the ordinary guy when it comes to the crunch. Votes, bonuses, reputations, sales… they seem to be a priority.
So I’m a fan of some of these doomsayer financial gurus. They stick their necks out and predict the less likely – through still possible – worst case scenarios. And very often they’re right.
To give you an example… Bill Bonner of The Daily Reckoning, and many of the pundits at The Fleet Street Letter, his investment newsletter, predicted the credit crunch and housing crash. They were banging their drum of doom for years, alone in the wilderness, while the mainstream media lapped up what the banks and the government told them.
However…People who didn’t agree with Bill Bonner didn’t end up poor and destitute. So if you got the mailshot from Crosrite, don’t panic.
It’s not a case that you buy his report called Thrive in the Meltdown’ for £100… OR die poor.
That’s just a strong-armed sales tactic. What he’s selling is financial information, tips and advice in a single report.
You may be able to benefit from this report, or you may not. It’s not a choice between abject poverty and limitless wealth. And although I’ve read the sales page 3 times, I couldn’t work out what the specific threat was or how it would come about.
Personally, I prefer predictions to be more… well… predictive!
The Fleet Street Letter, The Zurich Club and MoneyWeek have all sold themselves the post using similar messages or doom, but with far more specifics and evidence in their promotions. And they’re annual subscriptions for less £99, rather than single reports.
I’ve not checked out the publishing company behind this yet – Misharu – but they appear to be genuine. And there’s a year’s money back guarantee on offer.