Actually major error here, US Employment participation since the pandemic dropped far lower than the UK and has not returned. The US however is able to print huge amounts of $US to simulate the economy with very little consequences at least for now.
It's not just Britain's economy. It's the Capitalist world. You want to know why it's failing? Too much money in the hands of too few billionaires, controlling the Narrative with not enough COMPETITION. No one has any discretionary spending anymore, which means fewer people buying things, which means fewer jobs, which means less tax revenue, which means a slower economy, which means recession. Which leads to Unrest... We've been here before and the solutions are obvious. Remember what Teddy Roosevelt did?
It's not just Britain's economy. It's the Capitalist world. You want to know why it's failing? Too much money in the hands of too few billionaires, controlling the Narrative and not enough COMPETITION. No one has any discretionary spending anymore, which means fewer people buying things, which means fewer jobs, which means less tax revenue, which means a slower economy, which means recession. Which leads to Unrest... We've been here before. And the solutions are obvious. Remember what Teddy and Franklin Roosevelt did? They made the billionaires pay their fair share again. Broke up the big boys. And created productive work programs that benefitted everyone. Domestic industry was massive.
It's not just Britain's economy. It's the Capitalist world. You want to know why it's failing? Too much money in the hands of too few billionaires, controlling the Narrative and not enough COMPETITION. No one has any discretionary spending anymore, which means fewer people buying things, which means fewer jobs, which means less tax revenue, which means a slower economy, which means recession. Which leads to Unrest... We've been here before. And the solutions are obvious. Remember what Teddy and Franklin Roosevelt did? They made the billionaires pay their fair share again. Broke up the big boys. And created productive work programs that benefitted everyone. Domestic industry was massive. Which means people had a LIVABLE WAGE to grow the Economy.
I don't know why the act like Covid was the reason, Never heard such utter nonsense in my life. I worked with a British expat in 2015 and back then he saw the writing on the wall for the UK. Every nation was hit by the pandemic but that's NOT the reason why the UK didn't recover. There's alot of facts that are missing from this report that they aren't willing to admit.
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.
brexit has happened exactly because the rich want no regulation and tax heavens under their full control, they want uk a colonu yo the US because it is the US companies that own this country, get it deeper and deeper in debt and take dollars back home. The UK is a zombie being eaten by american corporations while the conservative gov manages the discontent of the local population. The country is sold, in debt, no assets ... and no future.
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.
Spot on. Engineering is also not paid well. It's a mindset problem. Big businesses and Government simply don't want to follow through with their words to do proper long term investment. They prefer quick wins and gimmicks at the expense of training and investment which creates compounded returns.
@@AlexColes-wn5jg I am an Engineer myself and it is very well paid compared to the national average but it is very poorly paid compared to what one could earn in other areas of the tech sector. It is also poorly paid relative to the skill and knowledge required to do the job. There is plenty of work about but it is for "gimmick" projects like HS2 and pointless road building, whereas what is needed is better roll out of high speed internet, better public transport and better water infrastructure. It surprises me to hear that the original commentator can't find work as there is a skils shortage in most sectors of Engineering. Although there is also ever increasing pressure to cut costs, which is clearly not easily squared with hiring the right number of staff.
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...
They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.
Hearing from an experienced investor who has survived adversity and prevailed is always motivating. It may be frightening when your portfolio goes from green to red, but if you have invested in strong firms, you should maintain growing them and stick to your goal.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Sharon Lee Peoples” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.
It's a delicate season now, so you can do little or nothing on your own. Hence I’ll suggest you get yourself a financial expert that can provide you with valuable financial information and assistance
The video glosses over why taxes are high while public service standards are so low; where did all that money go? Who's responsible for the bad spending?
The UK Labour Party reduced NHS waiting times every year to the lowest levels while immigration was rising every year. Immigration isn't the problem the Conservative Party and austerity is. The vast wealth from immigration wasn't taxed & allowed to go into the hands of the wealthy elite. That's why we need wealth taxes on multimillionaires and billionaires.
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.
With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.
With my demanding job, I lack time for investment analysis. For seven years, a fiduciary has managed my portfolio, adapting to market conditions, enabling successful navigation and informed decisions. Consider a similar approach.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
@@johngaskell1467 well if a financial advisor is hella rich and you dont check what kind of connection he has to what he is selling you, you can just as easily end up in a f*cking Ponzi scheme, which is in all honestly what our economies became, " needs to increase constantly for if it doesnt anymore it collapses on itself while the people at the top gets the f out before the bottom realises"
Uk gets gas and electric from different source now so there's no shortage of it and yet prices haven't been lowered any bit and are still the same - more than 1 and half year later since increase by double
Not quite, but the entire £700bn definitely ended up in the pockets of the wealthiest few. That’s £14k per adult in the country. If you didn’t get your £14k, someone else got them.
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.
Actually it was the loot from the colonial empire that saved Britain from the worst effects of the Great Depression of the 1930s. Not so much fun for the colonial subjects, but hey, that's what empires are for.
It was the industrial revolution that produced the wealth and it was built on the backs of the inventive working class who were all slaves in all but name and many still are.
I left the UK at the end of 2020 after 8 years. I was sad to have to go, but as a Security Guard I became not only unemployed, but UNEMPLOYABLE. Furthermore, essential medication for my mental health has been denied to me, in fact I got a letter that specifically told me "Ye, we know you've been waiting for months for your meds, but we won't be giving it to you any time soon, so sorry about that!" If I stayed in the UK I would have surely died by now: homeless, unemployed, destitute and more mentally unraveled than ever. My choice was to leave the UK or die. As you can see, I haven't yet died. That's why you lost "bodies" after Corona: I never returned and I'm not the only one. And I won't. It breaks my heart, I love the UK, culturally it feels like home more than anywhere else...yet, right now I would die there. It's really sad.
Don't want you unhappy or unwell -but has it never occurred to you that you weren't doing the UK many favours? Too many people claiming for their 'mental health' and being unproductive low skill security guards...
It can be the right course of action. And in our case, it's probably not a bad one because there is such a dearth of money anyway. The problem is that the vast majority of Tory government spending goes into the private sector, nominally the private sector anyway, it's more of a Tory rich friend club that happens to own a lot of assets (own but run incompetently. See PPE companies without assets and English water providers that collect customer fees but then spend almost nothing on maintenance, investment and upkeep).
I realized that the secret to making a million is saving for better trading. That mindset helped me make more money in trading. For example last year I traded with $5k in Bitcoin and made about $38k, but guess what? I put it all back and traded again and now I am rounding up close to a million
Well after the GFC, Labour had 2 years to create a new taxation structure around derivatives and private equity to bring the government net worth back into the positive. Guess they got lazy and now the UK government will never be able to distribute wealth to the poor considering that it's got over 2.5 trillion pounds in debt that it needs to pay back. Doesn't matter who's in power, debt is debt and it needs to be paid or it will accumulate.
You can't establish a progressive tax system which taxes superrich heavily in Britain... They are mostly not locals (Russian oligarchs, Dubai sheikhs, category A world celebrities). They were attracted to Britain by its "cool" image (living in London and sending kids to a private school in England is considered a high-class experience in Russia, for example) and loose financial politics (washing dirty money). At the first signs of Britain increasing financial control they would flock away like migratory birds to another country - Switzerland, UAE, etc. UK is completely deindustrialized, it became a country providing services - banking, legal, etc. Superrich indirectly contribute to the economy with their excessive spending by keeping an army of consultants/managers employed, visiting restaurants/bar/clubs... Massive unemployment and poverty would worsen attractiveness of Britain as a destination for tourism/wealth immigration even further. Rekindling industry would be very hard due to expertise loss and a strong negative perception towards industries raised in masses by modern politics. Another source of wealth in Britain in the past was colonies, which is over too, I am afraid...
@@evgeniinekhoroshev8204yeah in it’s not as clear that taxing the wealthy a lot more would work well in Britain like it would in the US, but it’s still probably the way to go
@@evgeniinekhoroshev8204a land tax could be an easy way to tax the wealthy. Especially if executed in a smart way. A way that increases the efficient use of land, materials, energy, labour etc… An example would be a vacancy tax on property. A tax that is strong enough to force AirBnBs, holiday homes, hotels, motels to be leased on low demand days (to avoid the high tax). This would lead to maximum use of the property - increasing the efficiency of the land and the building materials and labour that created the building. It would lead to some short term rentals being converted back into long term rentals. And to some holiday homes being sold to homebuyers. The idea is that vacancy tax would be so high that pretty much no one would pay the tax as they would all avoid it. So the tax wouldn’t generate much revenue. To incentivise improving efficiency effectively, there should be a carbon tax. Some of the revenue of this tax could be used to fund the improvement of buildings to reduce the need for as much heating eg double glazed windows, insulation etc… Some of the revenue could compensate the retired and unemployed. The rest of the revenue could increase the lowest tax threshold to encourage workforce participation. Additional taxes could be placed on the elite school on a per student basis.
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.
"A bit of a lie": well no, since the middle and working classes happen to form the majority of the population, not a small part. So for a majority they are indeed paying higher taxes than they can remember.
Taxes on business - via stealth or corporate taxation - are relatively high. Most of the ‘cuts’ offered by the Tories over the last decade and a half were offset by increased compliance costs and stealth taxes. The biggest hole in the UK’s tax system is *wealth* - not profits (excepting multinationals) or income-based taxation. British wealth taxes are complex, overlapping, lower than taxes on income and in many cases relatively easy to avoid - which creates a direct incentive to park cash in assets rather than build or work at anything. This is not mentioned by the political class, as it is not politically palatable to tell the generations/cohorts that own everything - who are convinced they ‘worked all their lives’ - that they actually just won the genetic lottery to be born in the right economy at the right time and now need to pay it forward.
Only 50% surely if average means you have a car it is more with tax on employment and income and expenditure and duties and licences and housing ........@@jonkayl9416
Why is the missing workforce considered a mystery? People are overworked and underpaid - It doesn't pay to work hard. You won't see it in your salary, retirement or public services through all the taxes you're paying.
I think a lot of older people retired early after the lockdowns because they were able to save money (they didn't have mortgages). The impact of austerity on the NHS meant that younger people could not get healthcare so ended up becoming permanently sick.
It's not difficult, it just takes some hard truths! The UK does not educate the working class in a manor to be competitive in the global work force, so they can start by fixing that. The UK isn't take any lead in tech which has be so obvious in the future for sure a long time. And the UK is so inefficient, government system is useless, the public services if you work in them, you see the absolute waste of money that happens inside them. To put it simple, the UK does not create value on the world stage, so why would it get wealthier?
I disagree about the young. They're smart , they take their skills elsewhere that pays them more. Staying here they get dog poo wages, can't buy a house and tyranised for being "lazy". It's why they go elsewhere
@@Christina-g4s Not when compared to many Europeans. I live abroad in an area of many expats. when comparing us Brits here to the Dutch, Swiss, Germans, and Scandinavians, it's undeniable that we are falling behind them in education, maybe ambition too.
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.
"...holds nobody to account." The blame game will take you nowhere. The correct way forward is to recognize that all development involves a whole lot of systems at various levels (like Russian dolls) and there are reasons why many have seized up (read The Innovattor's Dilemma). The UK should kick the toxic neoliberalist habit, lock economists in the back rooms, and shift to what powers most of Asia now.
@@peterquennellnyc It is not blame game. It is the fundamental issue the UK is facing now. Guess what powers Asia? Accountability! Yes, like China, senior government figures will be put into jail if they fail to deliver national infrastructure projects. Looks at HS2 in the uk, it is nothing but a joke.
Sorry to burst in on your success, but "yo Dre, I got something to say." It's not just Britain's economy. It's the Capitalist world. You want to know why it's failing? Too much money in the hands of too few billionaires, controlling the Narrative and not enough COMPETITION. Capitalism works when there's competition, but every industry has consolidated. No one has any discretionary spending anymore, which means fewer people buying things, which means fewer jobs, which means less tax revenue, which means a slower economy, which means recession. Which leads to Unrest... We've been here before. And the solutions are obvious. Remember what Teddy and Franklin Roosevelt did? They made the billionaires pay their fair share again. Broke up the big boys. And created productive work programs that benefitted everyone. Domestic industry was massive. Which means people had a LIVABLE WAGE to grow the Economy. Everyone won. It's just that the billionaires had single-digit billions instead of the wannabe Trillionaires today.
People have consistently voted against their interests. Whether local, general elections, or even in referendums. I’m not sure what people expected but there are ALWAYS consequences to actions, including voting
People vote on a promise. Then the promise is not kept and its the fault of the voter? Its the politicians and governments that fail...consistantly in all democracies in the world. Power will corrupt no matter the inital form ie democracy that should prevent it.
The video says the UK needs to bring more people back to work and make them productive however the jobs in the UK labor market are far less than in 2021 across many sectors. Companies feel the strain on their finances and are not hiring, and people see the market's condition and are not resigning so human capital is not moving/evolving. Maybe attracting new investment is the answer but interested to see your views too on this.
its working perfectly if you are rich, which is who the politicians serve. Had they not privatised basic public services how else could share holders of these companies take directly from future tax revenue and get richer. debt is modern day slavery
The only distinctly UK thing about the slowdown, as opposed to global macro, is that British industry had largely configured its structure and practices for optimal single market participation, and modifications have been costly, slow and often half hearted
Idk how it is in the UK but in the US our corporate tax rate is really low, as is our capital gains tax, while wealth inequality is at a 100 year high. Yet we are 34 trillion in debt. Those taxes could be raised and they would almost only effect the wealthy. If the UK is similar than taxes can be raised, just not regular income tax, as billionaires dont make their money from normal income, average people do.
You are right. And the UK does have disastrous income tax regimes where you are paying 40% of your income towards taxes and contributions even if you've only moved slightly above middle class levels of income.
The difference is the rate of income tax revenue and also percent of GDP spending. Although the US looks reckless the last federal budget was only 22.7% of the US economy
@KriminalKrampus o yea but we still pay interest on the debt, which is taking up a larger and larger portion of the government budget. And the only reason the world uses our money is because they see it as a safe investment. If we keep infinitely racking up debt, eventually countries will start to turn away from the dollar.
1-Madness is doing the same thing over and over again and expecting the results to be different. 2- There is an administrative class which manages the State for its PROFIT, and not for the NATION”
I left the UK almost 50 years ago and nothing has changed. The two World Wars, especially WW2, devastated the UK empire and its economy. Born just after World War 2, my childhood memories are of a country trying unsuccessfully to recover its economy, whilst losing an empire. The decline continues.
@@khgktjjruhfhb That's just politicians cashing out. The UK government lost all of it's net worth in 2008 and has been bleeding cash since. Political parties will try to keep up appearances but I'm telling you no sane politician wants to save a ship that's sinking rapidly.
38bn on track n trace, Mone and Gove's PPE companies, The ferry company without a ferry took 14m, Matt Hancock's mate who lived above him and who ran a pub started a mysterious PPE procurement company, gaining funding from...The secretary of state Matt Hancock! I forget how much Sunak said was lost to fraud, billions though.
@@bullpup1337 there is no comparing a political entity on the verge of collapse (the kingdom won't be so united in a dozen-or-so years) burdened by a broken healthcare, infrastructure and social policies with a economic behemoth and the heart of Europe. UK is just an aftertought in today's time, sadly, blame the Tories, Johnson or Sunak, the UK's on the fast track to geopolitical irrelevancy
It's not "generous" to artificially inflate energy prices and then print loads of money...that printed money only serves to transfer wealth from those with the least to those with the most
Essentially, a country voted to impose economic sanctions on themselves, then a few years later we are wondering "Why the UK's Economy Stopped Working"?
The ‘energy crisis’ is really a self inflicted pain. The Russians did not stop supply, they were forced to redirect to Asia by our own governments. Not to mention the US blowing up North Stream pipes.
It's a multi dimensional problem. Everything from lack of productivity, excessive concentration on financial services, lack of investment, poor decisions over privatisation, poor work culture, and so on. The list is long. Fix the planning laws. Should be top priority. Build more houses. Thatcher sold off the council house stock and then nobody built any replacements! Nice idea for sure but terrible execution and follow on. If nobody can afford a basic minimum expected necessity like somewhere to live then they'll never afford anything else that makes them feel happy healthy and wealthy. The middle classes and older property owners think affordable housing is a great idea, as long as it isn't their houses that are affordable. Unfortunately you got to tread on some toes eventually and build build, build to make living costs realistic for all.
I'm sorry, but - NO. Energy prices spiking to insane levels in the UK had nothing to do with the war in Ukraine, and EVERYTHING to do with energy providers' greed. And it worked - for them, that is. BG saw its year on year profits skyrocket.
@@ryandanngetich2524 The US has sheer size in a way that the UK simply can't dream of. That alone will make the US geopolitically relevant pretty much indefinitely.
@AUniqueHandleName444 And you think someone didn't say that about the British empire. Other unions will form the world will be very multipolar to care what America thinks especially in the global east and south
This clip is partially wrong. Income tax is high, but wealth tax is low. We have high taxes on working and middle-class income from work, but tax upper class wealth lower. Example, 1% tax on £10+ million wealth would generate £2,000+ per child per year.
Stop taxing the poor so much, and start taxing the rich. They're the ones who have the money you need - and they got that money by defrauding the government and the poor anyway, so as a nation you have a solid moral right to take that money back.
Why do you think everyone who is better off has achieved it by defrauding the government? Doesn't hard work, commitment to develop your skills, and dedication lead to being better off and successful? Why penalise such hard work? If you keep over taxing people who have dedicated their lives to building wealth, there's no incentive to do so. Why not try to incentivise the people who are capable of working but choose not to work to make it worthwhile to go to work and cut the 256billion costs of the benefits system. My cousin hasn't worked more than 100 days in her life and she's 50. She says she's not much better off working on the minimum wage after tax and on balance she would rather do what she wants, when she wants and have her life paid for.
It is almost like austerity policies brings austerity? The UK is a long term issue. Productivity is low, infrastructrure is lagging behind and major long term inscurity now after Brexit is scary.
You have not had. Austerity, you have lies, gimmicks and excuses. Germany, Austria, Switzerland and Ireland have done Austerity, in the case of Ireland debt went from 124% to 78% pre COVID. It was brutal but they had leadership - the president, supreme court and high court justices, senior civil servants and defence force staff all voluntary returned salaries etc... and it worked. You have had none of that.
UK needs to revive its manufacturing sector no matter produce high or low value goods and services. Not all UK residents are Oxford or Cambridge graduates. A significant number of them only in secondary or primary education. Although some economic experts might say the cost to produce these stuff are a way too high so its not worth it, well I should say when you look at those homeless people with no jobs and depending on welfare, these are the large pool of people you can hire about. Provide them with a commune housing converted from abandoned buildings and food. Assign them to work according to their skill and expertise. At the same time provide them a forced savings account so in every month a portion of their salary would be diverted to savings. Even though the salary be lower than average standard at least their still have a place to depend on. This way the burden of debt towards the unproductive people could be relieved.
Manufacturing sector cant flourish because we cant trade freely with Europe, we lack the investment to attract new manufacturing companies here and the wages are too high to compete. We've sold all our assets over the past 40 years.
I remember in early 2000s when I was still living in the UK, people were losing jobs because companies moved their manufacturing jobs to China for cheap labor. 20 years later that backfired and affected the UK economy today.
A paradise compared to Milei's Argentina though. *Massive* loss of living standards, industry, construction and business investment - from already weak levels.
mmmm....Milei took office only 6 months ago....what he is doing is radical change to course correct a country sunk to the ground by decades of statism. The difference is that Argentina is very rich in natural resources.....so with a few years of sensible macro economic management the country can grow and prosper relatively easily...instead the UK....it is difficult to think where the growth could come from?
@@peterp7541 But, as I mentioned, they've taken a *sharp* turn for the worse since that Chucky doll was elected - with no hope in sight for a recovery. Indeed - they'd need three years of *solid* recovery just to compensate the last 6 months. And, at best, they'll have an "L"-shaped recovery - meaning being stuck at a much lower level after the initial, sharp fall (in fixed investment especially). And lest we forget, Argentina (which only ranks 42nd in natural resource wealth - while ranking 32nd in population) lacks a hard currency it can issue in *massive, quantitative-easing doses* to patch economic potholes - unlike Britain, the EU, and (above all) the US. As for Britain, Brexit no doubt deepened the 2020-21 recession for them - such that rejoining the EU might help them recover more fully.
Shut down tax havens make millionaires and billionaire's , and big corporations pay their fair share of tax. End Trident and stop fighting proxy foreign wars for the American empire. This would provide billions for the NHS and rebuilding the infrastructure.
VOTE INDEPENDENT CANDIDATES IN YOUR LOCAL AREA'S. SAVE THE UK FROM ISRAELI MONEY AND CORRUPTION!!.. KEEP THE TORIES OUT, KEEP LABOUR OUT OUT OUT!!!!...
I am French and back in 2013-2015 (pre Brexit), London was a pretty decent work environment with opportunities. London/British people, has this changed with Brexit? Is the situation bad? I guess I shouldn't come back.
The problem with the Uk was inevitable and similar to the US In the 1980's both had leaders who were anti industry. Manufacturing had unions ugh!! disgusting asking for more pay? how dare they!! Factories were shut down and both became "service industries" leading to yuppies and stock markets In other words a world based on nothing but speculation on unproductive items like shares and property A handful became very rich, the masses and middle class began the slow decline to todays western world So manufacturing disappeared and reappeared in " developing nations" where today most innovation, productivity, and obvious prosperity is occurring. Manufacturing declines in US and Uk middle class shrinks, Manufacturing grows in Mexico,China, etc middle class grows
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio..
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist.
Here, Bloomberg really disappoints. The Bloomberg empire is built on smart systems and smart systems is what has powered the growth in eastern and southern Asia starting from Japan. Yet the video and too many of the comments say nothing about systems in the UK (and EC) locking up and why and what to do about them, and instead deflect to waffle about neoliberalism and equilibriums. Reading The Innovator's Dilemma should be Step One.
Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: www.bloomberg.com/subscriptions?in_source=UA-camOriginals
Actually major error here, US Employment participation since the pandemic dropped far lower than the UK and has not returned. The US however is able to print huge amounts of $US to simulate the economy with very little consequences at least for now.
It's not just Britain's economy. It's the Capitalist world. You want to know why it's failing? Too much money in the hands of too few billionaires, controlling the Narrative with not enough COMPETITION. No one has any discretionary spending anymore, which means fewer people buying things, which means fewer jobs, which means less tax revenue, which means a slower economy, which means recession. Which leads to Unrest... We've been here before and the solutions are obvious. Remember what Teddy Roosevelt did?
It's not just Britain's economy. It's the Capitalist world. You want to know why it's failing? Too much money in the hands of too few billionaires, controlling the Narrative and not enough COMPETITION. No one has any discretionary spending anymore, which means fewer people buying things, which means fewer jobs, which means less tax revenue, which means a slower economy, which means recession. Which leads to Unrest... We've been here before. And the solutions are obvious. Remember what Teddy and Franklin Roosevelt did? They made the billionaires pay their fair share again. Broke up the big boys. And created productive work programs that benefitted everyone. Domestic industry was massive.
It's not just Britain's economy. It's the Capitalist world. You want to know why it's failing? Too much money in the hands of too few billionaires, controlling the Narrative and not enough COMPETITION. No one has any discretionary spending anymore, which means fewer people buying things, which means fewer jobs, which means less tax revenue, which means a slower economy, which means recession. Which leads to Unrest... We've been here before. And the solutions are obvious.
Remember what Teddy and Franklin Roosevelt did? They made the billionaires pay their fair share again. Broke up the big boys. And created productive work programs that benefitted everyone. Domestic industry was massive. Which means people had a LIVABLE WAGE to grow the Economy.
UK is still far better than INDIA
When your economy is full of consultants and not manufacturers, how do you expect the economy to perform?
consultants and money launderers
I don't know why the act like Covid was the reason, Never heard such utter nonsense in my life. I worked with a British expat in 2015 and back then he saw the writing on the wall for the UK. Every nation was hit by the pandemic but that's NOT the reason why the UK didn't recover. There's alot of facts that are missing from this report that they aren't willing to admit.
And stock analyzers telling them to minimize costs to maximize profits to the EXTREME, and at ALL costs.
The Brexit Idea was a EU-Singapur \Hong Kong - Tax-paradise , real eastate-paradise , edukation-paradise :D
@@michalkosmita5194 That is some wacky error filled nonsense.
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.
most of the developed word. Service economy, financiarisation and massive immigration. We are harvesting the fruits now.
If the rich ran Britain, Brexit would not have happened. Keep looking for people to blame.
brexit has happened exactly because the rich want no regulation and tax heavens under their full control, they want uk a colonu yo the US because it is the US companies that own this country, get it deeper and deeper in debt and take dollars back home. The UK is a zombie being eaten by american corporations while the conservative gov manages the discontent of the local population. The country is sold, in debt, no assets ... and no future.
@@phoenix5054 The rich don't run Britain? Yeah.... right,,,,
@@phoenix5054 stop taking drugs my man, the rich were leading brexit in order to protect their banking system from EU regulation
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.
UK is still far better than INDIA
Gee, I thought engineers were arriving en masse, by boats, seeking asylum, finding refuge in a hotel. What could possibly go wrong?
UK is still far better than INDIA
Spot on. Engineering is also not paid well.
It's a mindset problem. Big businesses and Government simply don't want to follow through with their words to do proper long term investment.
They prefer quick wins and gimmicks at the expense of training and investment which creates compounded returns.
@@AlexColes-wn5jg I am an Engineer myself and it is very well paid compared to the national average but it is very poorly paid compared to what one could earn in other areas of the tech sector. It is also poorly paid relative to the skill and knowledge required to do the job. There is plenty of work about but it is for "gimmick" projects like HS2 and pointless road building, whereas what is needed is better roll out of high speed internet, better public transport and better water infrastructure.
It surprises me to hear that the original commentator can't find work as there is a skils shortage in most sectors of Engineering. Although there is also ever increasing pressure to cut costs, which is clearly not easily squared with hiring the right number of staff.
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...
They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.
Hearing from an experienced investor who has survived adversity and prevailed is always motivating. It may be frightening when your portfolio goes from green to red, but if you have invested in strong firms, you should maintain growing them and stick to your goal.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Impressive gains! how can I get your advisor please, if you don’t mind me asking? I could really use a help as of now
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Sharon Lee Peoples” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.
My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my savings crumble to dust.
It's a delicate season now, so you can do little or nothing on your own. Hence I’ll suggest you get yourself a financial expert that can provide you with valuable financial information and assistance
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings?
Thank you for this Pointer. It was to find her handler, She seems very proficient and flexible. I booked a call session with her.
Bots in this thread. Hello bots.
Mismanagement, incompetence, bloat and brexit.
You forgot the biggest one . THEFT !
Everything above, swap Brexit with theft. Brexit will save UK
The video glosses over why taxes are high while public service standards are so low; where did all that money go? Who's responsible for the bad spending?
The UK Labour Party reduced NHS waiting times every year to the lowest levels while immigration was rising every year. Immigration isn't the problem the Conservative Party and austerity is. The vast wealth from immigration wasn't taxed & allowed to go into the hands of the wealthy elite. That's why we need wealth taxes on multimillionaires and billionaires.
Brexit was sabotaged by the uniparty, the "conservatives" ruled as Labour, a mockery of democracy.
Living in London, where nothing seems to be working correctly, is just a mental breakdown every day
The US Dollar is going to be collapsed soon, buy GOLD ✅
UK is still far better than INDIA
You want to try living in Derbyshire
blud says london aint working 💀 try going literally anywhere else
Run!
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.
With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.
With my demanding job, I lack time for investment analysis. For seven years, a fiduciary has managed my portfolio, adapting to market conditions, enabling successful navigation and informed decisions. Consider a similar approach.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
bot alert
Our country went wrong electing rich person after rich person to run our country and care about our economy, not just their rich friends!
Interesting comment . However , if a financial advisor is poor do you invest in the product he is selling you ?
@@johngaskell1467 well if a financial advisor is hella rich and you dont check what kind of connection he has to what he is selling you, you can just as easily end up in a f*cking Ponzi scheme, which is in all honestly what our economies became, " needs to increase constantly for if it doesnt anymore it collapses on itself while the people at the top gets the f out before the bottom realises"
That 280 billion pounds went directly towards Tesco and British Gas annoucing record earnings one year later...
Uk gets gas and electric from different source now so there's no shortage of it and yet prices haven't been lowered any bit and are still the same - more than 1 and half year later since increase by double
The US Dollar is going to be collapsed soon, buy GOLD ✅
Not quite, but the entire £700bn definitely ended up in the pockets of the wealthiest few. That’s £14k per adult in the country. If you didn’t get your £14k, someone else got them.
Forcing the shutdown of the economy over a bad cough was completely disproportionate
UK is still far better than INDIA
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.
londomat for drug dealers, arrm traders, dictators and autocrats as well as oligarchs and monopolists - they all LOVE London !!!
tax haven? Wealthy people are moving out of the UK that sparked from brexit and the war in Ukraine...
If the Tax-to-GDP ratio is that high, it means taxes are being paid and used, not evaded.
@@bh5037 Not true or I would do it
@@bawsypvp5481 Where to ? lol..
Unlike the 1800s, the UK can’t rely on colonialism and pillaging of others to bail them out this time 😂
Never heard of the industrial revolution?
Actually it was the loot from the colonial empire that saved Britain from the worst effects of the Great Depression of the 1930s. Not so much fun for the colonial subjects, but hey, that's what empires are for.
It was the industrial revolution that produced the wealth and it was built on the backs of the inventive working class who were all slaves in all but name and many still are.
@@Guitar6tywhere they get crude cotton and minarals all looted from asia africa
I left the UK at the end of 2020 after 8 years. I was sad to have to go, but as a Security Guard I became not only unemployed, but UNEMPLOYABLE. Furthermore, essential medication for my mental health has been denied to me, in fact I got a letter that specifically told me "Ye, we know you've been waiting for months for your meds, but we won't be giving it to you any time soon, so sorry about that!" If I stayed in the UK I would have surely died by now: homeless, unemployed, destitute and more mentally unraveled than ever. My choice was to leave the UK or die. As you can see, I haven't yet died.
That's why you lost "bodies" after Corona: I never returned and I'm not the only one. And I won't. It breaks my heart, I love the UK, culturally it feels like home more than anywhere else...yet, right now I would die there. It's really sad.
Don't want you unhappy or unwell -but has it never occurred to you that you weren't doing the UK many favours? Too many people claiming for their 'mental health' and being unproductive low skill security guards...
Play brexit games, win brexit prizes...
more like borrow billions of money then send to Ukraine
@@alter1237 Not unique to the UK
@@davidanalyst671 You already could... You were never part of the Euro Zone.
It's working very well for the elites, they're just throwing people like you under the bus.
Really? Explain how Brexit has ruined the economy? I would actually like to hear a real example with real empirical evidence behind it
1 Prints a fk load of money
2 Causes massive inflation
3 Expects to pay low interest on debt
Sound like america!
I didn't know the Federal Reserve was America
Lol the Tories cutting investment for 15 years is what brought them to this place. No growth without investment
We printed 25% of our economy for covid. They paid everyone to not go to work for a year
It can be the right course of action. And in our case, it's probably not a bad one because there is such a dearth of money anyway.
The problem is that the vast majority of Tory government spending goes into the private sector, nominally the private sector anyway, it's more of a Tory rich friend club that happens to own a lot of assets (own but run incompetently. See PPE companies without assets and English water providers that collect customer fees but then spend almost nothing on maintenance, investment and upkeep).
I realized that the secret to making a million is saving for better trading. That mindset helped me make more money in trading. For example last year I traded with $5k in Bitcoin and made about $38k, but guess what? I put it all back and traded again and now I am rounding up close to a million
Please how do y'all even make so much from crypto trading?
I need a financial advisor who will help me with financial planning, investment decisions, and wealth management
Any recommendations on investments, assistance with portfolio building?
I'm thrilled at the prospect of learning from a coach like Andrew Zevola Crypto
With his mentorship, I feel more confident in my ability to navigate the crypto market and make informed decisions.
How much money gets siphoned off into private pockets at the top, never to be recycled back into the economy at the bottom?
Well after the GFC, Labour had 2 years to create a new taxation structure around derivatives and private equity to bring the government net worth back into the positive. Guess they got lazy and now the UK government will never be able to distribute wealth to the poor considering that it's got over 2.5 trillion pounds in debt that it needs to pay back. Doesn't matter who's in power, debt is debt and it needs to be paid or it will accumulate.
You can't establish a progressive tax system which taxes superrich heavily in Britain... They are mostly not locals (Russian oligarchs, Dubai sheikhs, category A world celebrities). They were attracted to Britain by its "cool" image (living in London and sending kids to a private school in England is considered a high-class experience in Russia, for example) and loose financial politics (washing dirty money). At the first signs of Britain increasing financial control they would flock away like migratory birds to another country - Switzerland, UAE, etc. UK is completely deindustrialized, it became a country providing services - banking, legal, etc. Superrich indirectly contribute to the economy with their excessive spending by keeping an army of consultants/managers employed, visiting restaurants/bar/clubs... Massive unemployment and poverty would worsen attractiveness of Britain as a destination for tourism/wealth immigration even further. Rekindling industry would be very hard due to expertise loss and a strong negative perception towards industries raised in masses by modern politics. Another source of wealth in Britain in the past was colonies, which is over too, I am afraid...
About as much as gets siphoned off on Humanist ventures to help the poor without increasing their productivity...
@@evgeniinekhoroshev8204yeah in it’s not as clear that taxing the wealthy a lot more would work well in Britain like it would in the US, but it’s still probably the way to go
@@evgeniinekhoroshev8204a land tax could be an easy way to tax the wealthy. Especially if executed in a smart way. A way that increases the efficient use of land, materials, energy, labour etc…
An example would be a vacancy tax on property. A tax that is strong enough to force AirBnBs, holiday homes, hotels, motels to be leased on low demand days (to avoid the high tax).
This would lead to maximum use of the property - increasing the efficiency of the land and the building materials and labour that created the building.
It would lead to some short term rentals being converted back into long term rentals. And to some holiday homes being sold to homebuyers.
The idea is that vacancy tax would be so high that pretty much no one would pay the tax as they would all avoid it. So the tax wouldn’t generate much revenue.
To incentivise improving efficiency effectively, there should be a carbon tax. Some of the revenue of this tax could be used to fund the improvement of buildings to reduce the need for as much heating eg double glazed windows, insulation etc… Some of the revenue could compensate the retired and unemployed. The rest of the revenue could increase the lowest tax threshold to encourage workforce participation.
Additional taxes could be placed on the elite school on a per student basis.
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.
"A bit of a lie": well no, since the middle and working classes happen to form the majority of the population, not a small part. So for a majority they are indeed paying higher taxes than they can remember.
Taxes on business - via stealth or corporate taxation - are relatively high. Most of the ‘cuts’ offered by the Tories over the last decade and a half were offset by increased compliance costs and stealth taxes. The biggest hole in the UK’s tax system is *wealth* - not profits (excepting multinationals) or income-based taxation. British wealth taxes are complex, overlapping, lower than taxes on income and in many cases relatively easy to avoid - which creates a direct incentive to park cash in assets rather than build or work at anything. This is not mentioned by the political class, as it is not politically palatable to tell the generations/cohorts that own everything - who are convinced they ‘worked all their lives’ - that they actually just won the genetic lottery to be born in the right economy at the right time and now need to pay it forward.
if you work it out. Average joe is paying 50% tax.
They'll just leave - there is no way out of this. UK is finished
Only 50% surely if average means you have a car it is more with tax on employment and income and expenditure and duties and licences and housing ........@@jonkayl9416
Why is the missing workforce considered a mystery?
People are overworked and underpaid - It doesn't pay to work hard. You won't see it in your salary, retirement or public services through all the taxes you're paying.
I think a lot of older people retired early after the lockdowns because they were able to save money (they didn't have mortgages). The impact of austerity on the NHS meant that younger people could not get healthcare so ended up becoming permanently sick.
Borrow today and worry about it tomorrow. It works all time...for the rich.
edgy
nah it's the underclass that borrow but can't repay
UK is still far better than INDIA
@@SunofYork well the debt is in our name but its the rich who do the borrowing
@@chriswashingtonbeats Please expand on that. I am very well off and I borrow nothing
It's not difficult, it just takes some hard truths!
The UK does not educate the working class in a manor to be competitive in the global work force, so they can start by fixing that.
The UK isn't take any lead in tech which has be so obvious in the future for sure a long time.
And the UK is so inefficient, government system is useless, the public services if you work in them, you see the absolute waste of money that happens inside them.
To put it simple, the UK does not create value on the world stage, so why would it get wealthier?
I disagree about the young.
They're smart , they take their skills elsewhere that pays them more.
Staying here they get dog poo wages, can't buy a house and tyranised for being "lazy".
It's why they go elsewhere
"In a manor" The problem with the UK is that it's run by people who were educated in a manor.
@@Christina-g4s Not when compared to many Europeans. I live abroad in an area of many expats. when comparing us Brits here to the Dutch, Swiss, Germans, and Scandinavians, it's undeniable that we are falling behind them in education, maybe ambition too.
That's wildest manner spelling I've ever seen 😂
@@Jed_89 IQ is declining since 1997 in all western nations. As we are selecting against intelligence.
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.
>> holds nobody to account
That is the same everywhere. German here.
No, only Tory!
Lol Blair outside if iraq war vastly better than Tory's.
"...holds nobody to account." The blame game will take you nowhere. The correct way forward is to recognize that all development involves a whole lot of systems at various levels (like Russian dolls) and there are reasons why many have seized up (read The Innovattor's Dilemma). The UK should kick the toxic neoliberalist habit, lock economists in the back rooms, and shift to what powers most of Asia now.
@@peterquennellnyc It is not blame game. It is the fundamental issue the UK is facing now. Guess what powers Asia? Accountability! Yes, like China, senior government figures will be put into jail if they fail to deliver national infrastructure projects. Looks at HS2 in the uk, it is nothing but a joke.
NIMBYism, Landlordism, Toryism
Sorry to burst in on your success, but "yo Dre, I got something to say."
It's not just Britain's economy. It's the Capitalist world. You want to know why it's failing? Too much money in the hands of too few billionaires, controlling the Narrative and not enough COMPETITION. Capitalism works when there's competition, but every industry has consolidated. No one has any discretionary spending anymore, which means fewer people buying things, which means fewer jobs, which means less tax revenue, which means a slower economy, which means recession. Which leads to Unrest... We've been here before. And the solutions are obvious.
Remember what Teddy and Franklin Roosevelt did? They made the billionaires pay their fair share again. Broke up the big boys. And created productive work programs that benefitted everyone. Domestic industry was massive. Which means people had a LIVABLE WAGE to grow the Economy. Everyone won. It's just that the billionaires had single-digit billions instead of the wannabe Trillionaires today.
Brexitism, Bank ineptitude(i(ism), Covid(ism).
The US Dollar is going to be collapsed soon, buy GOLD ✅
UK is still far better than INDIA
UK is still far better than INDIA
More managers then workers
oh dear you didn't get promoted lol... I did..
😮
People have consistently voted against their interests. Whether local, general elections, or even in referendums. I’m not sure what people expected but there are ALWAYS consequences to actions, including voting
People vote on a promise. Then the promise is not kept and its the fault of the voter? Its the politicians and governments that fail...consistantly in all democracies in the world. Power will corrupt no matter the inital form ie democracy that should prevent it.
Raise taxes on the wealthy and a corporate windfall tax, combined with a higher inheritance tax would probably straighten them out.
The video says the UK needs to bring more people back to work and make them productive however the jobs in the UK labor market are far less than in 2021 across many sectors. Companies feel the strain on their finances and are not hiring, and people see the market's condition and are not resigning so human capital is not moving/evolving. Maybe attracting new investment is the answer but interested to see your views too on this.
its working perfectly if you are rich, which is who the politicians serve. Had they not privatised basic public services how else could share holders of these companies take directly from future tax revenue and get richer. debt is modern day slavery
Biggest US bonds holder is Japan , started to sell them. The US dollar crash ⤵️ is soon🔴
Might be time to abolish all those tax havens so that maybe some actual money might go back into the UK's economy
What does "abolish tax havens" mean?
Ireland is a corporate tax haven. Do you plan to invade it? What does abolish mean in this context
@@varsoo1I think they meant just England
Won't work, the rich will just move their money somewhere else
Overseas territories?
Because its wealth and prosperity is stolen
Make the hiring processes easier for entry-level jobs.
Biggest US bonds holder is Japan , started to sell them. The US dollar crash ⤵️ is soon🔴
The only distinctly UK thing about the slowdown, as opposed to global macro, is that British industry had largely configured its structure and practices for optimal single market participation, and modifications have been costly, slow and often half hearted
Idk how it is in the UK but in the US our corporate tax rate is really low, as is our capital gains tax, while wealth inequality is at a 100 year high. Yet we are 34 trillion in debt. Those taxes could be raised and they would almost only effect the wealthy. If the UK is similar than taxes can be raised, just not regular income tax, as billionaires dont make their money from normal income, average people do.
You are right. And the UK does have disastrous income tax regimes where you are paying 40% of your income towards taxes and contributions even if you've only moved slightly above middle class levels of income.
American tax burden is wildly different than UK. US economically is in infinitely better position than UK.
The difference is the rate of income tax revenue and also percent of GDP spending. Although the US looks reckless the last federal budget was only 22.7% of the US economy
Our government kind of gets special treatment in regards to debt though, doesnt it? Considering the whole world uses our money
@KriminalKrampus o yea but we still pay interest on the debt, which is taking up a larger and larger portion of the government budget. And the only reason the world uses our money is because they see it as a safe investment. If we keep infinitely racking up debt, eventually countries will start to turn away from the dollar.
1-Madness is doing the same thing over and over again and expecting the results to be different.
2- There is an administrative class which manages the State for its PROFIT, and not for the NATION”
Shouldn’t have given up all of its empire so easily.
same problem all over the world - not enough resources 😢
Too many people
I left the UK almost 50 years ago and nothing has changed. The two World Wars, especially WW2, devastated the UK empire and its economy. Born just after World War 2, my childhood memories are of a country trying unsuccessfully to recover its economy, whilst losing an empire. The decline continues.
Britain was not an empire, it was colonizer.
@@sleepyjoe7518so Russia wasn’t an empire but a colonizer?
For the last 60 years UK’s economy grew 5 times. Doesn’t look like the decline continues.
@@evgenyzak2035Only by exploiting its top position for things like financial services.
Nepo baby.
@@punishanpika Not true. Read what industries grew for that period. Financial services helped, but it’s far from your “only”.
280 billion pounds where did most of it go not to the people
Ukraine and israel war effords. While we cant afford the card boxes we need to live in
@@khgktjjruhfhb That's just politicians cashing out. The UK government lost all of it's net worth in 2008 and has been bleeding cash since. Political parties will try to keep up appearances but I'm telling you no sane politician wants to save a ship that's sinking rapidly.
38bn on track n trace, Mone and Gove's PPE companies, The ferry company without a ferry took 14m, Matt Hancock's mate who lived above him and who ran a pub started a mysterious PPE procurement company, gaining funding from...The secretary of state Matt Hancock! I forget how much Sunak said was lost to fraud, billions though.
100 billion is going to the illegal migrants
A lot if it went to friends of the Boris Johnson government.
As we know Thatcher destroyed the UK manufacturing sector.
You're not giving the UK enough credit. There's a brand-new steam locomotive built!
I can't believe these people compared the UK and Germany😂😂😂😂😂😂
why not?
@@bullpup1337 there is no comparing a political entity on the verge of collapse (the kingdom won't be so united in a dozen-or-so years) burdened by a broken healthcare, infrastructure and social policies with a economic behemoth and the heart of Europe.
UK is just an aftertought in today's time, sadly, blame the Tories, Johnson or Sunak, the UK's on the fast track to geopolitical irrelevancy
@@kiinmaskovich4108 The British were always losers. Who wants to anything from Britain when got the American & German products.
Biggest US bonds holder is Japan , started to sell them. The US dollar crash ⤵️ is soon🔴
They should have compared the UK to South Africa. Might have been a bit more on par 😂
First time I'm hearing someone admit sanctions affected UK economy.
It's not "generous" to artificially inflate energy prices and then print loads of money...that printed money only serves to transfer wealth from those with the least to those with the most
Essentially, a country voted to impose economic sanctions on themselves, then a few years later we are wondering "Why the UK's Economy Stopped Working"?
Don't ever take responsibility, keep blaming others for your problems.😊
Tories in a nutshell
100 billion going to illegal migration.
The ‘energy crisis’ is really a self inflicted pain. The Russians did not stop supply, they were forced to redirect to Asia by our own governments. Not to mention the US blowing up North Stream pipes.
Yes
one word : corruption
¡Los ejemplos que diste fueron muy útiles para entender mejor las opciones binarias!
It's a multi dimensional problem. Everything from lack of productivity, excessive concentration on financial services, lack of investment, poor decisions over privatisation, poor work culture, and so on. The list is long. Fix the planning laws. Should be top priority. Build more houses. Thatcher sold off the council house stock and then nobody built any replacements! Nice idea for sure but terrible execution and follow on. If nobody can afford a basic minimum expected necessity like somewhere to live then they'll never afford anything else that makes them feel happy healthy and wealthy. The middle classes and older property owners think affordable housing is a great idea, as long as it isn't their houses that are affordable. Unfortunately you got to tread on some toes eventually and build build, build to make living costs realistic for all.
Brexit. Brexit. Brexit. Should I say it again?
I'm sorry, but - NO. Energy prices spiking to insane levels in the UK had nothing to do with the war in Ukraine, and EVERYTHING to do with energy providers' greed. And it worked - for them, that is. BG saw its year on year profits skyrocket.
And, They were the one's to put sanctions on Russia anyway.
Canada is in a similar situation.
Brilliant analysis of a very “ broken” Britain ….
A greatest country in the world to a country no one cares about lol
LOL as iif thats new,,the same will be same about the us in the future
@@ryandanngetich2524 I hardly think so
@@ryandanngetich2524 The US has sheer size in a way that the UK simply can't dream of. That alone will make the US geopolitically relevant pretty much indefinitely.
The US Dollar is going to be collapsed soon, buy GOLD ✅
@AUniqueHandleName444 And you think someone didn't say that about the British empire. Other unions will form the world will be very multipolar to care what America thinks especially in the global east and south
On 25th November 2020, the video of rishi shown at the beginning, he wasn't the prime minister at that time. It's still the bloke Boris Johnson
This clip is partially wrong. Income tax is high, but wealth tax is low. We have high taxes on working and middle-class income from work, but tax upper class wealth lower. Example, 1% tax on £10+ million wealth would generate £2,000+ per child per year.
Imagine electing a government in the UK addicted to even more spending than the previous administration.
UK has never recovered from the Blitz, and they were dead poor before the Blitz as well
Yep
Stop taxing the poor so much, and start taxing the rich. They're the ones who have the money you need - and they got that money by defrauding the government and the poor anyway, so as a nation you have a solid moral right to take that money back.
Why do you think everyone who is better off has achieved it by defrauding the government? Doesn't hard work, commitment to develop your skills, and dedication lead to being better off and successful? Why penalise such hard work? If you keep over taxing people who have dedicated their lives to building wealth, there's no incentive to do so. Why not try to incentivise the people who are capable of working but choose not to work to make it worthwhile to go to work and cut the 256billion costs of the benefits system. My cousin hasn't worked more than 100 days in her life and she's 50. She says she's not much better off working on the minimum wage after tax and on balance she would rather do what she wants, when she wants and have her life paid for.
Its the money printing that got us here. Governments deficit spending
Want to bring people into the workforce? Pay more, increase worker visas
And yet the UK has now moved up to 4th largest exporter . Strange that🤔
It's lack of public investment.
It is almost like austerity policies brings austerity?
The UK is a long term issue. Productivity is low, infrastructrure is lagging behind and major long term inscurity now after Brexit is scary.
The US Dollar is going to be collapsed soon, buy GOLD ✅
You have not had. Austerity, you have lies, gimmicks and excuses. Germany, Austria, Switzerland and Ireland have done Austerity, in the case of Ireland debt went from 124% to 78% pre COVID. It was brutal but they had leadership - the president, supreme court and high court justices, senior civil servants and defence force staff all voluntary returned salaries etc... and it worked. You have had none of that.
Privatizing profits and socializing losses
UK needs to revive its manufacturing sector no matter produce high or low value goods and services. Not all UK residents are Oxford or Cambridge graduates. A significant number of them only in secondary or primary education. Although some economic experts might say the cost to produce these stuff are a way too high so its not worth it, well I should say when you look at those homeless people with no jobs and depending on welfare, these are the large pool of people you can hire about. Provide them with a commune housing converted from abandoned buildings and food. Assign them to work according to their skill and expertise. At the same time provide them a forced savings account so in every month a portion of their salary would be diverted to savings. Even though the salary be lower than average standard at least their still have a place to depend on. This way the burden of debt towards the unproductive people could be relieved.
Manufacturing sector cant flourish because we cant trade freely with Europe, we lack the investment to attract new manufacturing companies here and the wages are too high to compete. We've sold all our assets over the past 40 years.
Because the Tories were in power for 14 years.
If you vote for magical solutions like Brexit, you end up paying the price. As the saying goes: it is indeed rather chilly outside the EU.
I remember in early 2000s when I was still living in the UK, people were losing jobs because companies moved their manufacturing jobs to China for cheap labor. 20 years later that backfired and affected the UK economy today.
Wasn’t mass migration supposed to solve all these problems? 😂
You get the picture, 14 yrs of tory government
Blaming inflation solely on the war in Ukraine is false and misleading
"Take back Control"
Not
This country is so finished, I’m leaving soon
Short answer, the Tories
Long answer, Margaret Thatcher...
I had to google Taylor Swift to check if she is from the UK...
She's touring the UK presently in the final leg of the Eras tour.
So, is she?
@evgenyzak2035 no, but at least I found out there's a lot of famous bands from UK
@@Ovisss haha, it’s also nice to know.
The solution is simple - stop military spending, make peace with Russia, go back to EU.
Nonsense -- in a few years Russia would conquer you.
@@MB-xe8bb Is this sarcasm?
Have you tried turning it off and on again?
A paradise compared to Milei's Argentina though.
*Massive* loss of living standards, industry, construction and business investment - from already weak levels.
mmmm....Milei took office only 6 months ago....what he is doing is radical change to course correct a country sunk to the ground by decades of statism. The difference is that Argentina is very rich in natural resources.....so with a few years of sensible macro economic management the country can grow and prosper relatively easily...instead the UK....it is difficult to think where the growth could come from?
@@peterp7541 But, as I mentioned, they've taken a *sharp* turn for the worse since that Chucky doll was elected - with no hope in sight for a recovery.
Indeed - they'd need three years of *solid* recovery just to compensate the last 6 months.
And, at best, they'll have an "L"-shaped recovery - meaning being stuck at a much lower level after the initial, sharp fall (in fixed investment especially).
And lest we forget, Argentina (which only ranks 42nd in natural resource wealth - while ranking 32nd in population) lacks a hard currency it can issue in *massive, quantitative-easing doses* to patch economic potholes - unlike Britain, the EU, and (above all) the US.
As for Britain, Brexit no doubt deepened the 2020-21 recession for them - such that rejoining the EU might help them recover more fully.
Shut down tax havens make millionaires and billionaire's , and big corporations pay their fair share of tax. End Trident and stop fighting proxy foreign wars for the American empire. This would provide billions for the NHS and rebuilding the infrastructure.
No mention of Liz Truss and what she did for the interest rate!
NO CHINESE MONEY AND BREXIT
Chinese are too rich!
I bet the Chinese love Brexit. Easier to start a trade war with the UK.
The US Dollar is going to be collapsed soon, buy GOLD ✅
Curious! Not one word about the cumulative economic damage that is Brexit.
VOTE INDEPENDENT CANDIDATES IN YOUR LOCAL AREA'S. SAVE THE UK FROM ISRAELI MONEY AND CORRUPTION!!.. KEEP THE TORIES OUT, KEEP LABOUR OUT OUT OUT!!!!...
I wonder why the participation rate never bounced back... what could possibly have caused that? 🤔
What in the miss information is this video talking about. The oligarchs of the UK are laughing themselves to stitches, well played.
Yeah but with the amount of layoffs in tech I am thinking to move to a more stable field. It’s a complete mess.
I haven't seen that many layoffs, most of the job losses were in the US.
Total propaganda
it's almost as if what goes around comes around?
why? Because the conservatives ruled for 14 years 🤣
Where is Ocean Finance when it is needed the most? 😅😅😅
Floating mortgage rates are dangerous.
It has stopped working due to neoliberal politics. State intervention is desperately needed.
No one to loot now😂
Power, Corruption & lies.
New Order
Or New Order World ( World Economic Forum ).
and the "green" agenda.
No mention of the cost of war or immigration or foreign aid I see !
The problem is the british blame absolutely everything on immigration without actually investigating any root cause or real solutions.
I am French and back in 2013-2015 (pre Brexit), London was a pretty decent work environment with opportunities.
London/British people, has this changed with Brexit? Is the situation bad?
I guess I shouldn't come back.
The problem with the Uk was inevitable and similar to the US In the 1980's both had leaders who were anti industry. Manufacturing had unions ugh!! disgusting asking for more pay? how dare they!! Factories were shut down and both became "service industries" leading to yuppies and stock markets In other words a world based on nothing but speculation on unproductive items like shares and property A handful became very rich, the masses and middle class began the slow decline to todays western world So manufacturing disappeared and reappeared in " developing nations" where today most innovation, productivity, and obvious prosperity is occurring. Manufacturing declines in US and Uk middle class shrinks, Manufacturing grows in Mexico,China, etc middle class grows
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio..
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist.
Here, Bloomberg really disappoints. The Bloomberg empire is built on smart systems and smart systems is what has powered the growth in eastern and southern Asia starting from Japan. Yet the video and too many of the comments say nothing about systems in the UK (and EC) locking up and why and what to do about them, and instead deflect to waffle about neoliberalism and equilibriums. Reading The Innovator's Dilemma should be Step One.
I think starmer can do it, we need sensible