Why the UK's Economy Stopped Working
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Published 2024-06-21
00:00 Introduction
01:10 New UK government
01:34 Covid and the energy crisis
02:54 Interest rates
03:20 UK’s debt problem
04:20 Productivity and efficiency
05:38 Missing workers
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All Comments (21)
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When your economy is full of consultants and not manufacturers, how do you expect the economy to perform?
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The UK economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
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Mismanagement, incompetence, bloat and brexit.
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According to this, the problem is not having enough engineers. I'm an engineer and can't find work in the UK. We don't have a productivity problem. We have a failing business environment problem.
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Since Thatcher the UK has decided that they can be an only service economy. They also bend over backwards for insanely wealthy people. Turns out that doesn't work.
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That 280 billion pounds went directly towards Tesco and British Gas annoucing record earnings one year later...
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If the UK does invest heavily in certain industries, I highly suspect that money is just going to over paid managers
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Tax-to-GDP in the UK is grossly overrated, London being a tax haven where it is shockingly easy to hide money and where speculation is the only industry.
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The UK must be the only European country that still blames the pandemic for their current economic situation. If other nations have recovered from the pandemic by now and the UK hasn't, might there be another issue? One that's only affecting the UK? Now what could that be?
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Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
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Living in London, where nothing seems to be working correctly, is just a mental breakdown every day
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This is why Sunak called the election: dump all the problems on Labour and sneer at any solution.
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Borrow today and worry about it tomorrow. It works all time...for the rich.
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I can't say that anything in the video was wrong, BUT It entirely fails to mention the Elefant in the room. An economy that consists of 71% Services doesn't depend on energy and england always had plenty of bonus bankers, ckarks and servicemen. It's britains entire business model that collapsed in the financial crises, never really recovered, and now has mostly gone. (together with the oligarchs)
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It stopped working because we stopped rewarding hard work.
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NIMBYism, Landlordism, Toryism
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1 Prints a fk load of money 2 Causes massive inflation 3 Expects to pay low interest on debt
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The line about the UK's tax rate being the highest in 70 years is a bit of a lie, isn't it? The tax burden is on the middle & working classes, while companies & the rich have had their tax slashed. Close the loopholes for the rich & tax businesses on turnover, not profit.
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The biggest issue of the UK is that over the years the government - both labour and tory should be responsible for has been converted into a system that is super-large, incompetent and holds nobody to account.
