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.
With the economic difficulties the nation is currently facing in 2024, what plans can we put in place to support our income while we adjust to this time period? I'm determined not to see my $500K in savings disappear, especially after all the effort I've put into building them up.
Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals, but you need to be a skilled practitioner to carry out such successful transactions.
Indeed, that's accurate. I've been in contact with a financial advisor who manages the entry and exit strategies for my portfolio, which started with an initial reserve of $80K and has since grown to around $550K.
“Diana Casteel Lynch” has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
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.
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.
@@griegomas Yes, it is true. Median wealth per adult in the UK is $152k and in the US its $108k. In these second tier states it's $17-30k. The US has high poverty rates, political instability, and the crime might as well be considered 4th world. GDP isn't relevant here, even Ireland has a GDP per capita of over 100k, it isn't a measure of wealth. The US is Mexico strapped to California, Texas and NY.
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 ‘’Sonya Lee Mitchell” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
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.
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.
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.
Thousands of people now need to find other sources of income because of the constantly shifting economic realities globally. Its not just in the UK! I'm personally looking to the stock market to help me reach my $2 million retirement goal, but I'm worried about the recent market fall
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. hence I will suggest you get yourself a financial-Advisor that can provide you with entry and exit points on best stocks to buy now or put on a watchlist.
Absolutely! I don't have the time to carefully evaluate my investments and research particular stocks because of my hectic work schedule. I have therefore hired a financiiaI advisr to actively manage my portfolio for the last seven years in order to adjust to the state of the market. I've been able to successfully traverse the financial environment by using this method to make well-informed judgements about when to buy and sell. Maybe you ought to think about taking a similar strategy.
Because UK companies don't invest in productivity. Look how companies are currently treating Pride Month. In Europe and US they're falling over backwards for who can incorporate the most rainbows in their logos, put up the most rainbow events or show off the most rainbow stats by having the most rainbowy workforce. Meanwhile in China Africa Middle East India South America everything is the same as it was last month and they're busy making profit. I saw a job advert recently for a DEI Analyst in HR at Lloyd's Bank. Starting graduate salary 46k. The advert for a financial analyst for their graduate scheme meanwhile is 32k. Problems in a nutshell. The productive jobs are underpaid, meaning many of the best and brightest leave to Australia and US etc. to work. I know multiple IT engineers and financial graduates who left to USA and medical graduates who left to Australia. Meanwhile the zero-value-added jobs like DEI and HR are overbloated in the UK, not just in absolute number but also in pay.
@@varsoo1 The problem isn't DEI, it's an entirely financialized economy that sold off its public assets to private companies that are squeezing them out for profits.
@@DrDanQ92Exactly! Boeing's planes aren't crashing because they hired too many black engineers. It's because the company was bought out by a Wall Street firm years ago, and has aggressively cut safety standards to save money.
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?
UK is simply not the only one... Germans have had car-industries - not much longer. You know... Chinese EVs We used to have cheap russian gas - We became rich through high energy expenditure and high-quality technology. Energy is not cheap anymore +200%...US-LNG France is on path to be ruled by jerks - we'll all wonder if this flies - in regard to the WHOLE EU. uuuumh - you're not alone....
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...
@@SevenEllen Actually I think it's due to the opposite - increasing and already severe inteference with market forces. A growing modern communism that doesn't reward those who try hardest, is obsessed with how people look more than about what can do, etc. And this will continue until nobody tries much at all. For all you can say about the unfairness and the problems of pure market capitalism, this other new normal kills the human spirit. It's breaking us all, even when the suffering looks better on paper. Most people are naturally tribalist, we want to promote and support the people we know and like above others. At least genuine market economies apply a cost, literally, to bias when it comes to judging what somebody is able to do for the world.
A lot of folk got used to not working during the pandemic and enjoyed more leisure time. If you're a regular worker on little more than minimum wage, after tax, you're almost as well off within the benefits system, and on balance there's no incentive to work. The numbers of people who are capable of working and choosing not to work has just seen a steady incline. I don't think taxing the rich more to pay for an unproductive society is the answer. That's just resorting to penalising the hard workers who have achieved success and they will just leave the country, when what we need is for them to reinvest their success back into the country.
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.
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.
That 99% of people had no idea what they were doing is demonstrated by the recent market catastrophe. With stocks, options, NFTs, and other financial instruments, anyone bought everything, made money, and overnight became experts. In any market, nothing is 100% certain; the only variable you have control over is your risk.
I took charge of my portfolio but faced losses in 2022. Realizing the need for a change, I sought advice from a fiduciary advisor. Through restructuring and diversification with dividend stocks, ETFs, Mutual funds, and REITs, my $1.2M portfolio surged, yielding an annualized gain of 28%.
great gains there! mind sharing details of your advisor pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help build wealth over time
Annette Christine Conte is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I find this informative, curiously explored her on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated
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
@@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"
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)
Britain hasn't had a business model since its Empire collapsed. That was it's only business model and it worked for 300 years. Rob resources, manufacture inefficiently at home and force captive colonial markets to buy the product. And that's fine, I'm not making a moral judgement here it was what it was. The problem is the inability or unwillingness to recognise this fact and the delusion that England was ever competitive on a level playing field. Post WW2 all you ever hear is different chapters of one long, slow story of decline.
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).
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
Let’s not forget that one of the biggest problems is the recirculation of wealth. The corporate system simply isn’t paying its workforce enough. There isn’t incentive for people to go to work, and for the vast majority of those that do, they don’t have enough disposable income to put back into the economy. And with so many industries looking to make staff cuts, this problem will only become more explosive, especially with the onslaught of AI replacements.
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.
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.
Industrial revolution was direct result of cotton imports from india as well as active market of colonies which made Britain rich helping it to industrailize @@Guitar6ty
Uk tech companies pay 40% of what you can earn in the US for doing exactly the same job AND we are taxed at a higher rate. It’s no wonder nobody wants to work here, it’s a hostile environment for employees
@@NotOftenPoliteGuy Yeah it’s called wealth disparity. That’s still true. And now people coming from the third world to do the same job for 10x the money
Yes you have lower taxes in US and earn more, but you also have to pay for many things out of your own pocket after tax (think about health care, only to mention one). So after all you are NOT better off in US.
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.
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.
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 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
The UK stopped working when it focused on paying out for welfare and social housing and then making the market more expensive by printing more money to keep public services afloat. The problem is services are being provided to those who don't pay for them.
Wrong, social housing stopped rent hyperinflation by the Tory landlord class, under right to buy, a lot of that social housing ended up in their hands. Now your taxes subsidise their unregulated and extortionate rents, employers have to pay more as well to subsidise the landlord parasites. Private renting has never worked, which is the reason for social housing.
How about you pay the people that do more work more? Rather than suffocate those that do more work. Is there a single worker in the UK, or the US, that thinks if they do more work - smarter or harder - they will be recognised in any way?.
why should I pay you a fairer wage when I can just export your work to some third-world country, pay them 1/10th of you salary make quadruple profits and finally be able to put a downpayment on that yatch I've been eyeing?
One massive problem is the difficulty in both accessing re-training and accessing entry level jobs that do not require years of experience once you have completed that training. Entry level jobs so often require 3-5 years of experience, it’s all too easy to get locked out of employment if your industry changes and you need to retrain. This problem will get more and more critical as we see AI integrated into existing industries. Any non-shortage industry where productivity and efficiency increase, but demand does not, is likely to reduce its employee headcount.
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
Britain can't provide the cheap manufacturing labour that China/India can provide, so there's no chance of bringing back the huge manufacturing sector of the past. Britain focuses on providing smaller but highly technical manufacturing. Look at Rolls Royce Holdings, formula 1 factories etc.
He'll also blame them for every little thing that comes along. For instance, we know inflation's going to go up a bit. The timing of the election is so they can sneak out JUST before that happens, and then, they can blame that on Labour.
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.
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.
@@AB-zl4nh Also another thing, the only time the Labour was right was when they were controversial 😂. Immigrants, ultra-wealthy, I don't see the difference! (Also, mass immigration is just another easy excuse for the politicians to cash out, as is Ukraine, as is Israel, as is COVID, as is LGBTQ+, as is climate change, I could go on.)
My perception of the UK economy has always been of a place that traded off of its reputation as a stable place to sock away wealth. The financial services sector is the only UK industry I am aware of that has any scale. There are also niche industries such as Rolls Royce producing jet engines but that doesn't employ many people. Post Brexit I am wondering what the UK is trying to be.
Theres a lot of high tech stuff that doesn't employ lots of people but does make a lot of money - biotech, pharma, video games, jet engines, defence, nuclear, architecture, high end engineering. And oil
@@manjeetgill1 Lies. US & Germany dominate tech, medicine/pharma, defense, engineering, nuclear, education sectors. No one wants to buy anything from the British when they have American & Germans.
For pretty much the same reasons as it did everywhere in the Western world: - raising taxes to pay for all the promises the politicians made - That money goes everywhere besides supporting the country itself - when the country does get scraps for infrastructure or tackling healthcare or whatever, about 80% of the funding ends up in the bureaucratic black hole filling officials' pockets - Less investment in the country leads to less innovation, lowering the quality of life and in the case of Western countries this leads to a lower birthrate, all resulting in lower GDP - the solution to this is, for some reason, to increase immigration. Just get everyone in, we just need more people to increase the GDP - GDP increases, but real GDP per capita does not, in some cases it goes down. Quality of life continues to decline because now we have more people with the same level of amenities and services spread out even thinner - this is all compounded by a delusional political class that hates at worst, doesn't care at best, about the people of their own country, who love spending tax money that they didn't ear spreading it across the world It's the same here in Canada and in the US, and from what I hear Europe is having the same issue with different flavors
It's unfortunately never that simple. We already cannot build enough houses to support the current rates of immigration which leads to increases in rent. We also haven't the ability to support these new contributors with the NHS, dental, transport services etc. A short term fix would be to important more skilled immigrants as they are usually nothing but net contributors as they've taken the tax burden from another nation (schooling etc). Conversely, we shouldn't be taking on low skilled immigrants that either do not speak the language and/or cannot meet our secondary standards of education. This shouldn't apply to genuine refugees who have followed the correct processes. Realistically we have our own low skilled labour, we need to find a way to motivate them back to work, so that they may lessen the burden on our benefit system.
Another aspect is that finance and property don't directly produce anything of real value. They are there to support others that do that. It is a necessary service, yet the tail is now wagging the dog as there is so much more money in property and finance, it's not worth doing anything genuinely productive. And when productive activity declines, yet the financiers are gaining more and more. it's only going one way. A downward spiral.
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"?
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.
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.
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”
Note true. Only 42% of people voted Tory in the 2019 election. The First Past the Post electoral system did for us. If we had had PR, Labour could have formed a coalition government and, amongst other things, Brexit would not have happened.
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.
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.
@@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.
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.
@@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
@ivanexell-uz4mv, Moscow is much, much cleaner than London...and to think London is better compared to a city that you clearly think is beneath London does not say much about London, does it? 🤦♀️
Standard Of Life when compared to their Productivity is So Off the charts which is the result of exploitation of colonial territories and now they can't pay for themselves.
What the UK is suffering is not particularly new or unique and can just as easily be applied to most countries in western Europe. Was hoping for something a bit more naunced from Bloomberg. Also pleasee label your charts better.
I’m from the UK and my life has actually improved in the last 3-4 years I was worried about the winter the other year because of scaremongering over energy prices but actually when was all said and done it didn’t affect my life and at the moment me and mrs can actually afford fairly luxurious holidays I am ignorant to the way that the worlds economy works so I don’t know why I’m in the situation I’m in but I’m just an average UK worker who is currently doing ok and most the people I know are doing ok as well
Britain was once pioneer of science and technology. A country who led industrial revolution. *Now they don't want to study STEM* while their counterparts are running some of most successful IT companies...
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.
The continuously changing economic conditions in our society have made it necessary for thousands of people to find additional sources of income. Personally, I am looking at the stock market to fuel my retirement goal of $2m, my concern is the recent market crash.
buying the dip has proven to be profitable although for majority, the solution to their problem can be found only in specialized knowledge hence they seek guidance from well experienced advisors
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.
Stacy Lynn Staples is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
*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.*
*yeah investment is the key to sustaining your financial longevity but venturing into any legit investment or business without a proper guidance of an expert can lead to great loss too.*
Because there is zero incentive for rising children in less populated urban areas. Japan has piloted this program for affordable childcare outside of Big cities
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.
The pound is overvalued by 50%, which hurts investments and exports. It also makes labor more expensive than peers in Europe, without any of the Eurozone advantages of common markets. This explains the low productivity numbers as well.
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.
We have engineering. But financial engineering. Conjuring money out of nothing that then has to be paid to the financiers from somewhere. Better increase property prices, rents and taxes to pay them.
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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
With the economic difficulties the nation is currently facing in 2024, what plans can we put in place to support our income while we adjust to this time period? I'm determined not to see my $500K in savings disappear, especially after all the effort I've put into building them up.
Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals, but you need to be a skilled practitioner to carry out such successful transactions.
Indeed, that's accurate. I've been in contact with a financial advisor who manages the entry and exit strategies for my portfolio, which started with an initial reserve of $80K and has since grown to around $550K.
I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.
“Diana Casteel Lynch” has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
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.
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.
A friend of mine living in Britain said to me yesterday that, quote: "We’re basically a third world country attached to London."
So is basically any developed country really
@@JoshuaHancock-zk2tx yeah that's not true. For example, Lots of second-tier states in the U.S. have Per capita gdps higher than the U.K.
@@griegomas Yes, it is true. Median wealth per adult in the UK is $152k and in the US its $108k. In these second tier states it's $17-30k. The US has high poverty rates, political instability, and the crime might as well be considered 4th world. GDP isn't relevant here, even Ireland has a GDP per capita of over 100k, it isn't a measure of wealth. The US is Mexico strapped to California, Texas and NY.
@@griegomas US is a large country
Must be the same friend that also told me we are headed for third world status
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 ‘’Sonya Lee Mitchell” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
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.
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
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
Thousands of people now need to find other sources of income because of the constantly shifting economic realities globally. Its not just in the UK! I'm personally looking to the stock market to help me reach my $2 million retirement goal, but I'm worried about the recent market fall
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. hence I will suggest you get yourself a financial-Advisor that can provide you with entry and exit points on best stocks to buy now or put on a watchlist.
Absolutely! I don't have the time to carefully evaluate my investments and research particular stocks because of my hectic work schedule. I have therefore hired a financiiaI advisr to actively manage my portfolio for the last seven years in order to adjust to the state of the market. I've been able to successfully traverse the financial environment by using this method to make well-informed judgements about when to buy and sell. Maybe you ought to think about taking a similar strategy.
That's really quite amazing. I would like to modify my financial situation this year as well, so I could use some information on your FA.
@@DũngLan-s5l It would be highly innovative to find an FA who can help you shape your portfolio, such as *Elizabeth Colleen Nurre* .
@@DũngLan-s5l its needed to get through the challenging times that lie ahead, careful personal money management will be crucial.
If the UK does invest heavily in certain industries, I highly suspect that money is just going to over paid managers
DEI ones😂
Because UK companies don't invest in productivity. Look how companies are currently treating Pride Month. In Europe and US they're falling over backwards for who can incorporate the most rainbows in their logos, put up the most rainbow events or show off the most rainbow stats by having the most rainbowy workforce. Meanwhile in China Africa Middle East India South America everything is the same as it was last month and they're busy making profit.
I saw a job advert recently for a DEI Analyst in HR at Lloyd's Bank. Starting graduate salary 46k.
The advert for a financial analyst for their graduate scheme meanwhile is 32k.
Problems in a nutshell.
The productive jobs are underpaid, meaning many of the best and brightest leave to Australia and US etc. to work. I know multiple IT engineers and financial graduates who left to USA and medical graduates who left to Australia. Meanwhile the zero-value-added jobs like DEI and HR are overbloated in the UK, not just in absolute number but also in pay.
@@varsoo1 The problem isn't DEI, it's an entirely financialized economy that sold off its public assets to private companies that are squeezing them out for profits.
@@DrDanQ92Exactly! Boeing's planes aren't crashing because they hired too many black engineers. It's because the company was bought out by a Wall Street firm years ago, and has aggressively cut safety standards to save money.
@@Ryan-gh4iz basically. They take all the profit and get the government to bail them out so the public pays the debt of these public companies
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?
Whole money goes to Ukraine war and giving refuge to Ukrainians
B R E X I T
Precisely the video explains that it is not only the pandemic
UK is simply not the only one...
Germans have had car-industries - not much longer. You know... Chinese EVs
We used to have cheap russian gas - We became rich through high energy expenditure and high-quality technology. Energy is not cheap anymore +200%...US-LNG
France is on path to be ruled by jerks - we'll all wonder if this flies - in regard to the WHOLE EU.
uuuumh - you're not alone....
OP makes a really sh!t point.
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!
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...
@@1972jjb have a day off mate
It stopped working because we stopped rewarding hard work.
"we"? Who's 'we'? The people? We never get a say in that matter, it's all dictated by capitalism.
hard work rewards itself, it is the government stealing from that hard work through taxes that is the problem
@@SevenEllen We haven't had capitalism since 1914
@@SevenEllen Actually I think it's due to the opposite - increasing and already severe inteference with market forces. A growing modern communism that doesn't reward those who try hardest, is obsessed with how people look more than about what can do, etc. And this will continue until nobody tries much at all. For all you can say about the unfairness and the problems of pure market capitalism, this other new normal kills the human spirit. It's breaking us all, even when the suffering looks better on paper. Most people are naturally tribalist, we want to promote and support the people we know and like above others. At least genuine market economies apply a cost, literally, to bias when it comes to judging what somebody is able to do for the world.
A lot of folk got used to not working during the pandemic and enjoyed more leisure time. If you're a regular worker on little more than minimum wage, after tax, you're almost as well off within the benefits system, and on balance there's no incentive to work. The numbers of people who are capable of working and choosing not to work has just seen a steady incline. I don't think taxing the rich more to pay for an unproductive society is the answer. That's just resorting to penalising the hard workers who have achieved success and they will just leave the country, when what we need is for them to reinvest their success back into the country.
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..
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.
Wie in Deutschland 😂
Deshalb richtig wählen ✊️💙
That 99% of people had no idea what they were doing is demonstrated by the recent market catastrophe. With stocks, options, NFTs, and other financial instruments, anyone bought everything, made money, and overnight became experts. In any market, nothing is 100% certain; the only variable you have control over is your risk.
Retail investors were not to blame for the market crash; the FED was only virtue signaling at its worst.
I took charge of my portfolio but faced losses in 2022. Realizing the need for a change, I sought advice from a fiduciary advisor. Through restructuring and diversification with dividend stocks, ETFs, Mutual funds, and REITs, my $1.2M portfolio surged, yielding an annualized gain of 28%.
great gains there! mind sharing details of your advisor pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help build wealth over time
Annette Christine Conte is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I find this informative, curiously explored her on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated
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.
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"
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
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)
83%, not 71%.
@@discostoo looked it up again
acc. to statista in 2022 services contributed 72.17% to UK's GDP.
@@andreasarnoalthofsobottka2928 right, I thought you meant the amount of people employed in services, not the gross gdp contribution.
Britain hasn't had a business model since its Empire collapsed. That was it's only business model and it worked for 300 years. Rob resources, manufacture inefficiently at home and force captive colonial markets to buy the product. And that's fine, I'm not making a moral judgement here it was what it was. The problem is the inability or unwillingness to recognise this fact and the delusion that England was ever competitive on a level playing field. Post WW2 all you ever hear is different chapters of one long, slow story of decline.
@@rklmbd2934 100% spot on. The country never moved past 1950 in many way.
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).
Britain is a poor country. Only because of colonial wealth Britain became rich. But that wealth is not enough anymore
The world economic become too big. The EU and US used to be able to manipulate it, now that impossible as their market alone isn't enough.
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
Let’s not forget that one of the biggest problems is the recirculation of wealth. The corporate system simply isn’t paying its workforce enough. There isn’t incentive for people to go to work, and for the vast majority of those that do, they don’t have enough disposable income to put back into the economy. And with so many industries looking to make staff cuts, this problem will only become more explosive, especially with the onslaught of AI replacements.
Nothing to worry about, they can buy Robots , no need to employ anybody in boring tedious soul destroying work!
Cheap labour from massive levels of immigration. 2.5 million in the last 2 years
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
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
Industrial revolution was direct result of cotton imports from india as well as active market of colonies which made Britain rich helping it to industrailize @@Guitar6ty
Uk tech companies pay 40% of what you can earn in the US for doing exactly the same job AND we are taxed at a higher rate. It’s no wonder nobody wants to work here, it’s a hostile environment for employees
Before this was about Eastern Europeans when they were coming to UK to do the same job for x4 times money.
@@NotOftenPoliteGuy Yeah it’s called wealth disparity. That’s still true. And now people coming from the third world to do the same job for 10x the money
Yes you have lower taxes in US and earn more, but you also have to pay for many things out of your own pocket after tax (think about health care, only to mention one). So after all you are NOT better off in US.
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.
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.
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.
UK public sector bureaucracy is bloated and inefficient. But too many voters are dependent on government spending. This is how democracies end.
I dont think the Uk has ever been a democracy. It's just a two party system masquerading as a democracy
And nobody realizes it either. We have an economy built on reliance on the government
As we know Thatcher destroyed the UK manufacturing sector.
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
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
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
Austerity means a lack of investment, a lack of investment sees a lack of growth, a lack of growth means the economy stops working.
The UK stopped working when it focused on paying out for welfare and social housing and then making the market more expensive by printing more money to keep public services afloat. The problem is services are being provided to those who don't pay for them.
Wrong, social housing stopped rent hyperinflation by the Tory landlord class, under right to buy, a lot of that social housing ended up in their hands. Now your taxes subsidise their unregulated and extortionate rents, employers have to pay more as well to subsidise the landlord parasites. Private renting has never worked, which is the reason for social housing.
including many polish people in my area, but "they all work" hahaha, yeah come to my neighbourhood.. but be careful that your car isn't stolen!
How about you pay the people that do more work more?
Rather than suffocate those that do more work.
Is there a single worker in the UK, or the US, that thinks if they do more work - smarter or harder - they will be recognised in any way?.
If your employer ignores you why do you think anybody cares what you post online ,.
I think more unions are needed in some more industries, but only if it promotes productivity in those industries... across the world.
@@megamanx466may i remind you the auto workers union in the UK played a huge part in killing our auto industry
@@jrr3613 No, industry died because nobody was interested in purchasing British cars once Japan produced better vehicles.
why should I pay you a fairer wage when I can just export your work to some third-world country, pay them 1/10th of you salary make quadruple profits and finally be able to put a downpayment on that yatch I've been eyeing?
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🔴
More managers then workers
oh dear you didn't get promoted lol... I did..
😮
One massive problem is the difficulty in both accessing re-training and accessing entry level jobs that do not require years of experience once you have completed that training. Entry level jobs so often require 3-5 years of experience, it’s all too easy to get locked out of employment if your industry changes and you need to retrain. This problem will get more and more critical as we see AI integrated into existing industries. Any non-shortage industry where productivity and efficiency increase, but demand does not, is likely to reduce its employee headcount.
Raise taxes on the wealthy and a corporate windfall tax, combined with a higher inheritance tax would probably straighten them out.
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🔴
An economy with 65 million people but no manufacturing industry will not function. The end.
Are you britsh or russia troll?
8th largest manufacturer, also the vast majority of developed economies are service based so not sure why the uk gets singled out for this
Thank Thatcher, Reagan, and Canada’s Mulroney for sending almost all manufacturing overseas. Plenty of borders for people but none for capital.
@@angus7278they didn't send anything. All they did was stop sending taxpayer to companies to stay in the country.
Britain can't provide the cheap manufacturing labour that China/India can provide, so there's no chance of bringing back the huge manufacturing sector of the past. Britain focuses on providing smaller but highly technical manufacturing. Look at Rolls Royce Holdings, formula 1 factories etc.
This is why Sunak called the election: dump all the problems on Labour and sneer at any solution.
The US Dollar is going to be collapsed soon, buy GOLD ✅
spot on!
He'll also blame them for every little thing that comes along. For instance, we know inflation's going to go up a bit. The timing of the election is so they can sneak out JUST before that happens, and then, they can blame that on Labour.
... and in 5 years time... Kier Starmer will be blaming the UKs £5-6 Trillion national debt on... Jeremy Corbyn!...
Seeing how the Tories have dealt with all problems during the last 14 years, I'm perfectly fine with them dumping them on Labour.
Ask the King for help. 🤣🤣🤣🤣🤣 What a joke is this country
This country is so finished, I’m leaving soon
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.
It boils down to arrogance. Wanting to have the cake and eat it.
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.
Well that doesn't make any sense
What else do you want us to do with cake? Stare at it?
Don't you mean "wanting to eat the cake and have it, too"?
@@AB-zl4nh Also another thing, the only time the Labour was right was when they were controversial 😂. Immigrants, ultra-wealthy, I don't see the difference!
(Also, mass immigration is just another easy excuse for the politicians to cash out, as is Ukraine, as is Israel, as is COVID, as is LGBTQ+, as is climate change, I could go on.)
That Taylor Swift reference though😂😂😂😂😂
The US Dollar is going to be collapsed soon, buy GOLD ✅
Cheaper to stay home then to work for a greedy corporate freak
But who will pay your bills? Do your govt. take of everything?
Trickle down economy that didn't trickle.
My perception of the UK economy has always been of a place that traded off of its reputation as a stable place to sock away wealth. The financial services sector is the only UK industry I am aware of that has any scale. There are also niche industries such as Rolls Royce producing jet engines but that doesn't employ many people. Post Brexit I am wondering what the UK is trying to be.
Theres a lot of high tech stuff that doesn't employ lots of people but does make a lot of money - biotech, pharma, video games, jet engines, defence, nuclear, architecture, high end engineering. And oil
@@manjeetgill1 Lies. US & Germany dominate tech, medicine/pharma, defense, engineering, nuclear, education sectors. No one wants to buy anything from the British when they have American & Germans.
Biggest US bonds holder is Japan , started to sell them. The US dollar crash ⤵️ is soon🔴
@@manjeetgill1 There's not enough of that, clearly. We need more of it to employ and create high value jobs
Mogadishu.
For pretty much the same reasons as it did everywhere in the Western world:
- raising taxes to pay for all the promises the politicians made
- That money goes everywhere besides supporting the country itself
- when the country does get scraps for infrastructure or tackling healthcare or whatever, about 80% of the funding ends up in the bureaucratic black hole filling officials' pockets
- Less investment in the country leads to less innovation, lowering the quality of life and in the case of Western countries this leads to a lower birthrate, all resulting in lower GDP
- the solution to this is, for some reason, to increase immigration. Just get everyone in, we just need more people to increase the GDP
- GDP increases, but real GDP per capita does not, in some cases it goes down. Quality of life continues to decline because now we have more people with the same level of amenities and services spread out even thinner
- this is all compounded by a delusional political class that hates at worst, doesn't care at best, about the people of their own country, who love spending tax money that they didn't ear spreading it across the world
It's the same here in Canada and in the US, and from what I hear Europe is having the same issue with different flavors
It's unfortunately never that simple. We already cannot build enough houses to support the current rates of immigration which leads to increases in rent. We also haven't the ability to support these new contributors with the NHS, dental, transport services etc.
A short term fix would be to important more skilled immigrants as they are usually nothing but net contributors as they've taken the tax burden from another nation (schooling etc).
Conversely, we shouldn't be taking on low skilled immigrants that either do not speak the language and/or cannot meet our secondary standards of education. This shouldn't apply to genuine refugees who have followed the correct processes.
Realistically we have our own low skilled labour, we need to find a way to motivate them back to work, so that they may lessen the burden on our benefit system.
Another aspect is that finance and property don't directly produce anything of real value. They are there to support others that do that. It is a necessary service, yet the tail is now wagging the dog as there is so much more money in property and finance, it's not worth doing anything genuinely productive. And when productive activity declines, yet the financiers are gaining more and more. it's only going one way. A downward spiral.
Don't ever take responsibility, keep blaming others for your problems.😊
Tories in a nutshell
100 billion going to illegal migration.
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"?
Imagine electing a government in the UK addicted to even more spending than the previous administration.
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.
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.
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”
Brexit was bad idea.
same problem all over the world - not enough resources 😢
Too many people
You get the government you deserve.
Note true. Only 42% of people voted Tory in the 2019 election. The First Past the Post electoral system did for us. If we had had PR, Labour could have formed a coalition government and, amongst other things, Brexit would not have happened.
@@richard_agerThen you would have Labour 😭.
@@richard_ager its your fault that you voted for the brexit thinking that you dont need the EU. Haha
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.
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
Britain's economy needs REFORM!
Have you tried turning it off and on again?
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.
Showing Liz Truss between Covid-19 patients and tanks whilst describing 'expensive crises' was hilarious
Biggest US bonds holder is Japan , started to sell them. The US dollar crash ⤵️ is soon🔴
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.
‘ To be an enemy of America can be dangerous, but to be a friend is fatal ‘
Wow, kurz und bündig auf den Punkt gebracht, vielen e Dank
First time I'm hearing someone admit sanctions affected UK economy.
Japan imposes 500 trillion yen fine on Apple and its headquarters👏
How much actually 500 trillion yen is ?
You need a math course urgently.
Don't hire a math professor for fraud.
Wasn’t it 500 quadrillion yen?
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 😂
if you have the ability to leave the UK, leave now the country is a joke. i left and never coming back, best decision of my life.
Tory Government. Next question.
3rd world country
Russia is 3rd world
Have you seen London 😅
@@genocidelves looks better than Moscow that’s for sure
@@ivanexell-uz4mvedinburg are better . London now become londonistan
@ivanexell-uz4mv, Moscow is much, much cleaner than London...and to think London is better compared to a city that you clearly think is beneath London does not say much about London, does it? 🤦♀️
Standard Of Life when compared to their Productivity is So Off the charts which is the result of exploitation of colonial territories and now they can't pay for themselves.
What the UK is suffering is not particularly new or unique and can just as easily be applied to most countries in western Europe. Was hoping for something a bit more naunced from Bloomberg. Also pleasee label your charts better.
I’m from the UK and my life has actually improved in the last 3-4 years I was worried about the winter the other year because of scaremongering over energy prices but actually when was all said and done it didn’t affect my life and at the moment me and mrs can actually afford fairly luxurious holidays I am ignorant to the way that the worlds economy works so I don’t know why I’m in the situation I’m in but I’m just an average UK worker who is currently doing ok and most the people I know are doing ok as well
@@danielforrest2952 Me too...I am rolling in lolly actually... All these liverpool dole moaners never change
Britain was once pioneer of science and technology. A country who led industrial revolution. *Now they don't want to study STEM* while their counterparts are running some of most successful IT companies...
You're not giving the UK enough credit. There's a brand-new steam locomotive built!
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.
UK has never recovered from the Blitz, and they were dead poor before the Blitz as well
Yep
And let us not forget the role of austerity in starving public investments which would boost productivity.
@@guydreamr
The productivity slowdown, inflation and austerity
ALFRED KLEINKNECHT 22nd July 2022
Social Europe
@@guydreamr
Eight things the crisis taught us about austerity
AUTHOR(S):
Stephen McBride
SEPTEMBER 1, 2018
PolicyAlternatives
that sure was a taylor swift ad in the middle of a serious report of economic collapse
Wages stagnated while profits soared and they still can't figure out why people are not productive.
The continuously changing economic conditions in our society have made it necessary for thousands of people to find additional sources of income. Personally, I am looking at the stock market to fuel my retirement goal of $2m, my concern is the recent market crash.
buying the dip has proven to be profitable although for majority, the solution to their problem can be found only in specialized knowledge hence they seek guidance from well experienced advisors
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.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
Stacy Lynn Staples is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
*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.*
to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.
I agree with you. Investment is the key to sustaining your financial longevity. And not just any investment but an investment with guaranteed return.
*yeah investment is the key to sustaining your financial longevity but venturing into any legit investment or business without a proper guidance of an expert can lead to great loss too.*
*Exactly and many of us don't know where to invest our money so we invest it on wrong place and to the wrong people*
Because there is zero incentive for rising children in less populated urban areas. Japan has piloted this program for affordable childcare outside of Big cities
Tax the rich boomers. Simple.
🇨🇳 sovereignty 🇨🇳 BRICS 🇷🇺
🇧🇷 the federal government BRICS 🇦🇪
🇪🇬 alliance 🇪🇹 BRICS
🇸🇦 federation 🇦🇷 BRICS
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.
The pound is overvalued by 50%, which hurts investments and exports. It also makes labor more expensive than peers in Europe, without any of the Eurozone advantages of common markets. This explains the low productivity numbers as well.
Rubbish .It was at 1.45 before brexit .and 1.7 in 2003 to the Euro
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.
Kind of wild to keep reading that there's no manufacturing in UK now. Manufacturing first began in UK
We have engineering. But financial engineering. Conjuring money out of nothing that then has to be paid to the financiers from somewhere. Better increase property prices, rents and taxes to pay them.
Brilliant analysis of a very “ broken” Britain ….
Didn’t Brexit help you guys?
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.