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- เผยแพร่เมื่อ 4 ก.ค. 2024
- The Bank of England halted its long run of interest rate increases on Thursday. One day after a surprise slowing in Britain's fast pace of price growth, the BoE's Monetary Policy Committee decided by a narrow margin to keep the key lending rate at 5.25%. However, economists believe the country’s economy is plagued by serious underlying issues which the government must address. DW correspondent Birgit Maass speaks to economist Kay Neufeld to find out more.
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#Britain #Economy #Brexit
Sadly with each passing day we can see the impact this awful policy has had on the UK. Tied up in red tape and tariffs with lower GDP than before the pandemic whilst the others in the G7, including Italy, are above. The lower GDP means we do not have the headroom to pay our way in the world and must resort to borrowing.Whilst there are rich people in the UK; a great many of us are poor and now we are poorer still. What steps can we take to generate more income during quantitative adjustment?
It is critical for everyone to prioritise investing in a variety of income streams that are independent of the government in light of the ongoing global economic crisis. Investigating stock, gold, silver, and digital currency opportunities is part of this. Despite the difficult economic climate, now is still a good time to think about making these investments.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Natalie Noel Burns who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Natalie Noel Burns up and send her a message. You've truly motivated me. God's blessings on you.
Engineers are considered the lowest of the low in the UK, we've completely de-skilled the country, I get contacted by UK agencies for janitor jobs with unblocking toilet skills all the time now. It's crazy really, I've worked so hard, specialised in mechanical engineering, a MechEng degree, worked in robotics/mechatronics design, then went back to University and studied astronautics and space engineering, I now lead the design of robotic spacecraft, ESA, UK space projects etc, however money has always been incredibly tight, very few holidays, old cars, lots of DIY, the only reason I could afford a house is both my parents died early of cancer and I inherited enough money for a deposit. God knows if I will ever get enough money to retire. The big problem is about to come, we have no engineers or scientists,I will go to the US, being offered 4x salaries to what I am on now.
The UK is a country of bankers, sales & marketing, middle managers and HR, falling behind in science, technology and high tech manufacturing, surviving only on a credit driven service industry, supported by years of quantitative easing with an unsustainable trade deficit. The UK has been following an identical economic path to Argentina for decades, the outcome is now inevitable, BoE and government can't do anything.
Wow, well said! That has been always my impression of the UK since Thacher broke the unions and outscored manufacturing to China and elsewhere. Basically the very same has happened in the US and now the Trump party claims they are the party of workers. How gullible can workers be? I find it kind of ironic to see a young doctor of Indian decent to find himself in a picket line for better pay in the UK.
Btw, maybe Brits should put more fiber into their diet, install better plumbing or watch youtube how tos. Just saying.
Completely agree with this, Eng salaries here are an absolute joke. Germany, USA or Australia pay far more. You can earn the salary of an Eng for doing something far less academically demanding, it’s frustrating.
If i had your qualifications i would put the house for sale and dissappear before Christmas, the money is in usa
💯💯
In the UK you can only make money if you're leeching off someone else and performing some middle man function. In the US at least engineers are well-compensated.
UK and Germany each calling the other The Sick Man of Europe.. 😂
Exactly. The Germans have been trying hard to laugh at England for years. I sat through a big extravaganza on Bavarian TV in 2010. They mocked us for losing America in 1783, and what they called "British Left". Total Saturday night auditorium, talk to the audience then the patriots come marching in.. .. .. .. .. No one appeared to think all that might be in the least inapposite with respect to the EU... mmm. Absolutely idiotic!
Because France is a Sick Lady 😅😅
That’s true 😂
Both can be true
There no rule that only one man can be sick at the same time in Europe.
Things have been pretty dire economically here in Britain for the last 15 years, real terms wages are still lower than they were before the global financial crash in 2008. Unsurprisingly, Brexit hasn't been the answer to all our problems!
Agree with this. 15 bloody years it's been awful!
The financialization of the economy produces intense and rapid accumulation of wealth in the hands of a few. But the price of this is the reduction in economic activity, the collapse of the population's consumption power and the unsustainable imbalance in prices, causing both popular reaction and uncertainty that slows down investment. At the base of the problem is neoliberalism and its predominance demanded by the ultra-rich and influential financial elite.
@@mikes4142You don't. You keep sinking until you try something else.
Neoliberalism???? 😂😂😂😂😂 more lack of it
The UK is done.
@@mikes4142creating more predictible stable environment for businesses, maybe introducing more socialistic policies, more protectionist policies, returning from globalism back to localism. In case of UK investing more into innovation..?
What would you do to reform the system?
Some pretty interesting economic numbers in the UK.
It's interesting to hear of so many who voted for Brexit, because they thought it would lead to much less immigration.
Instead, many have experienced great difficulty, and immigration is now highest in history.
The current PM comes from immigrant background
+600k net immigration in 2022 alone. This country is falling apart.
When you cut yourself off from your biggest export market, you know your economy will take a hit.
Bring more people from outside EUROPE. It is easier to exploit worker on "sponsor visa" 😢 Plus cost up to 15000 to obtain in India or Philippines
Who else is going to work and keep the economy alive the English don’t seem to be capable of doing it
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
My advisor is 'Margaret Johnson Arndt'. In terms of portfolio diversity, she's a genius. You can glance her name up on the internet and verify her yourself. she has years of financial market experience
I disagree
sell the stok and go and do wot you have always wanted to do the uk is dun its just a big ghetto now and will only get worse
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same markt raking in over $200k gains with months, I'm really just confused at this point
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
I agree. Based on personal experience working with an investment advlsor, I currently have $985k in a well-diversified portfollo that has experienced exponential growth. It's not only about having money to invest in st0cks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
@@AbdoolLogodesign How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
“Julie Anne Hoover" oversees my portfolio, simply do your due diligence. She's an extremely intelligent person, very thoughtful, cautious, and shows a great deal of expertise with over two decade of experience in her line of work.
@@AbdoolLogodesign I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Julie up and send her a message. You've truly motivated me. God's blessings on you.
Capital is taxed too little, work (employment income) taxed too much. Companies have way too many advantages relative to their regular employees, this brings even more money in the hands of the capital holders. If you do the same work as an employee or a freelancer, you'll just make so much more money being freelance. Discovered recently that being an employee just simply makes no economic sense. You can't pass inflation to your employer, there is nothing you can deduct from taxes, hourly rate much lower than freelance.
😅😅😅😅😅😅
@xkolm49 When you talk about “freelancing”, you should try actually talking with some self-employed and small businesses in the UK. It is terrible (hence why so MANY small businesses have gone under in last 2-3 years), and the idea that you pay less tax overall is laughable. Sole traders/self-employed are too small to benefit from any tax perks, don’t get all of the various company benefits, and the overall tax burden can be just awful. I think you really have in mind various “consultants” and “independent executives” that are associated with offshore/shell companies and financial machinations; totally different thing. Talk to small business/sole-traders across economy today and see how many are really doing well in the current climate. And finally things like mortgages etc are massively hard to get if you’re self-employed, even if you have an established business. Self-employed are still treated very much as second-class citizens in the UK economy.
But taxing the rich doesn’t help the common person. It sounds great but in reality nothing really happens. Govt just gets richer and spends money on things that are irrelevant to the poor.
What drives employee productivity? Capital investment. Taxing capital more is just a short-term play. Spend the money now and pay the debt later with high interest. Capital will flow to area of greatest return, so you get less money now and less productivity in the near future. Lose/lose.
@@arentyrI own a small UK based company and at this point we are barely surviving. We are taxed insane amounts and I have lost most of my European clients. Most of my friends have shifted their business to Poland and unfortunately at some point I will have to do the same but I can't bring myself let the people I employ jobless. I am afraid it will become a me or they situation.
The UK hasn’t really recovered from the global financial crisis.
Yet, it dared to sanction Russia ?
Yes
it never will
The economy definitely recovered, it's just that in 13 years the Tory government has never properly relieved the practice of austerity. Most of the current unrest largely isn't because of the economy doing badly over the last couple of years it's because public institutions like the NHS, school system and utilities networks have for years been allowed to be pillaged by private companies or to be funded the bare minimum by the government.
Torys fault. They see the problem but go about fixing it the wrong way
'There's a lot of wealth but not in the lower end of the income' Thanks Bergit I didn't know that. I thought the poor had all the money.
I know what you're saying is tongue-in-cheek, but it's a very important factor that not enough people realise. Wealth disparity is widening and has been for decades.
Probably because it's spoke about in riddles.@@Silks-
My reading is that she was saying, quietly, that the only people who benefitting from Brexit were those who were telling people to vote for it.
@@JablicekThis is what the news needs to cover more, instead they are more focused on telling you that people who is a much worse situation than the average English man is the biggest problem you have, and not the fact that 1% of your population holds 70% of the nation's wealth while the working class doesn't even hold 10% of it.
You are missing a pretty crucial point....
Here the point is that the high Gini coefficient of the UK versus e.g. the EU contributes to lower productivity growth.
The lower end of the income scale are only poor people if there is high socital wealth differential (high Gini-index). Because the UK is a very unequal society (e.g. by northern European standards), lower income quartile/quintile does equal poverty. That is not necessarily the case elsewhere.
Poverty alignes with worse educational, health etc. outcomes for the following generation(s), and is hence a drag factor for productivity growth.
How can you lose control when you never had it in the first place?
Didn't I hear something about 'taking back control' in 2016?
@@bugsygoo It takes more than just bold words; the government has never acted on the opportunity which opened up then. They are a terrible shower of incompetents.
@@bugsygoo😂
@@michaeltelemachus5112 Yeah, putting up trade barriers to a massive, rich economy on your doorstep just screams opportunity. But, yes, I know that the all of the Brexit ideologues were a bunch of incompetents--or deluded incompetents.
@@michaeltelemachus5112 Or as someone else would say - if the solution you have implemented hasn't fixed the issue, the issue you have tried to fix wasn't an issue in the first place.
After a massive rally in stocks came and yields collapsed, bond yields and the major averages are higher on Wednesday. How do we deal with such market conditions? Typically my $2m worth of holdings go up 8% then lose 20% right after and the cycle continues.
Investors embracing the idea that abruptly cooling inflation will put interest rate hikes on ice. During recessions your dividend gains or income reduces. Speaking to a certified market strategist can help with navigating this downturn.
True, some folks employ hedging strategies or devote a portion of their portfolio to defensive assets that perform well during market downturns and such pointers are provided by engaging the services of market experts just like i did in 2019, amid rona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments.
My partner recently hinted on going in the same direction, What did you invest in? Who is the advisor that guides you?
I personally have my portfolio overseen by California-based wealth advisor and fixed income strategist at that ’Nicole Desiree Simon’ well established and you'd find her professional bio on the net If you look her up, i'd suggest you do this and let me know what you think.
Thank you for this tip, I must say, Nicole appears to be quite knowledgeable. After coming across her web page, I went through her resume and I must say, it was quite impressive. I reached out and scheduled a call.
As a non European it is interesting to see how British publication called German Economy 'sick man of europe' forgetting how bad its own economy is terrible. Now DW brings to all how UK economy is trumbly.
Sure sure, but still:
Germany is the sick man
Ukraine is the drowning man
America is the massively indebted man
Halløj from Denmark.
@karinedlund6154 Would you allow me to say, there is poverty in Europe but it is not a poor coninent. I have lived in Europe for more than an year
Have a look at the German economy, it is pretty dire. This report is made for their home market that is locked into Brussels. Just a matter of time until German politicians wake up and move their targets for zero
UK left Europe to join North America,.
@karinedlund6154 What freedoms do we lack?
TBH, UK might need Jeremy C. Nationalising certain industries (e.g. infrastructure) will make long-term investment easier and make the planing and business less profit driven.
3:17 “unemployment has risen … bank’s books that’s a positive” - translation for people not holding shares: that means more people won’t be able to afford things, like food, which would reduce the inflation prices on food(less demand, lower prices), instead of the alternative which is to raise salaries which would reduce shareholder profit margins on their investments(banks make most of their money on these same investments).
When Unemployment is seen as a positive you know that the world is upside down
@@realfreedom8932 This idea of fighting inflation and especially food prices inflation by making people dirt poor to not be able to afford it, kind of came out of US and seems to be very popular with investors
@@aliancemd Fight obesity with inflation 😀
thanks for translating the system in plain english it's a straigth dog eat dog world. not nice.
Welcome to capitalism.
This is financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!
Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.
You are on the wrong forum. This is aimed at the ordinary working person. You are talking about gambling on the stock exchange, which is reprehensible in itself.
ah scams dont listen to any "experts" especialy online
Thing about certainty is that it shouldn’t just be reserved for big businesses. Especially when it comes to ‘democracy’.
Here in the US (East Coast) everything has gone up as well, but for some reason I find the cost of construction materials the most jarring. It was not long ago where basic 2x4s were quite cheap (around 2$ each) along with many other materials so the biggest investment to a simple project was your time. Not so now! Those same boards are 5$ each and its all multiplication; 25 boards here or 40 there. And of course you can replace "boards" with "just about everything else" in terms of price hike.
Transportation costs are way up due to the price of diesel.
Everyone thought ( and still thinks) that wealth can come from multiplying money in hedge funds and not from ordinary, decent work and production - so we have the results.
"NO MAN IS AN ISLAND " a famous quote but was very true.
Well apparently they are and a small one 🦐 at that
@@jbloun911 actually we're quite large .. got 60 million people living on it which iis larger than Spain, Portugal, Denmark. Ireland .. Belgium , Austria... it goes on
@@edwardharris5301 🤏
i just visited London and most things are as expensive as Norway now especially if u consider Currency difference. Wich is insane considering Norway's gdp per capita is double that of the UK
London is the most expensive place in UK by huge amount. Why compare a city to a country :S
My guess is that he visited London and not the rest of the UK? This is an anecdotal comparison not a statistical fact.
@@eskimo4130 The costs of Things in Grocery stores are the same all over Norway i guess its the same in Uk also :D bought some stuff at Tesco. but eating out is more expensive in London than smaller UK cities for shure. Tesco seems to be generally cheaper 10-20% than Norwegian grocery store tho. Looking at the bill again.
@@Infernal_Elf You guess?
@@MrHighRaw oh...sweetie. Food and clothes aren't much cheaper in Llandudno than London and rent has followed the trend of the capital albeit to a lesser ratio.
I personally couldn’t care less about the environment if families right now can’t afford food in one of the richest countries then spending billions on green projects and HS2 is insane
It’s the adjustable mortgage rates that’s killing you guys. You need to have fixed mortgage rates so you have have the same payments thru thick or thin. The fact that a mortgage can increase 1000 pounds bc inflation goes thru a high period is insane, of course people are losing houses. That’s why it was banned here in the US. People like security, that their rate won’t change despite the state of the economy. If anything refinancing can make it go down.
You're exactly right.
Houses should be excluded from rate rises. why should I as a house owner be punished because the economy is not doing well
BriExit sure backfired spectacularly.
no its going fine
@@graveperil2169for who .. what tax bracket?
@@christianmccann9400 mine
For whom? @@graveperil2169
Norway, Iceland and Switzerland are doing good outside the EU. But the UK is in flux, a state of "wait and see" ever since 2016. They could co-operate with the EU like theese three (individual agreement) but for intrenal British politcla reasons (Madness?) They are still arguning wheter they should have done Brexit 2016 or not...
The rich people are fine, better than ever. Sucks to be poor though.
Constant policy changing since 2008 has removed confidence of foreign investors in the UK, also mass immigration as well as allowing non resident foreigners to buy housing as an investment has crushed our property sector making it unaffordable for poor natives.
Not to mention the lack of political will to deal with problems rather than pass the blame!
I was very surprised that this lasted so long as a news piece. Surely all it required was for a reporter to ask the question in the title to some expert and that expert then just reply, "Yes! Unequivocally yes!"
The UK needs to either join the EU or NAFTA to get out of these problems. Lowering standards, removing regulations and investment in the local economy do not work otherwise. The UK needs a big market to export its products and services to. It also needs to produce more at home, especially food and raw materials to get a positive import-export balance.
The UK is not ready to compromise. Thats why they havent signed a FTA of any significance so far.
Britain is no longer welcome back.
The problem are : uk already out from EU once and to back again is hard unless UK ready to downgrade their deal...something that I think UK will not do that. Same with NAFTA, The problem is UK are too close with US, it will make other member worried that UK will use this relationship for their advantages
@@Hadihadi-wr8mt the Brits won't accept the euro
THE BRITS WILL HAVE TO ACCEPT THEY ARE NOT IMPORTANT ANY MORE...
Great channel. It is Funny hearing germans speaking better english than a lot of us brits.
Millions of Britains awaiting hospital treatment, 15 million living in poverty including 5 million children, huge explosion in food bank use, millions in in-work poverty, renters and buyers in a crisis people experiencing both eviction and repossession, wages especially in the public sector way below rates of inflation, no money for doctors, nurses, consultants, plenty of money for Ukraine !!
The West hoped to break up Russia through the war with Ukraine, put its clowns in each district and become great again and pump resources. But something went wrong. The elites have degraded and insidiousness is no longer so insidious
relative poverty...
poverty is a redundant term in developed countries...
You forgot the lawless streets and all the polluted rivers and beaches.
Strange that you voted for this.
@@garryferrington811 I didn’t though but I pay the price for those that did.
In the end economic growth will be considered synonymous with inflation. Governments are indeed the main cause in price hikes, just to inflate their economic growth rates. Not at all beneficial to any of our wallets!
I really like the concrete and clear way Kay Neufeld express his views and ideas. Congratulations!
I'm in a different country but I've noticed that this year all of the prices have gone up by 30% on many different things including food
All thanks to USA for rising interest rates, again and again which affected the global financial market in 2022/3. Also, NATO/EU economic sanctions and robberies caused a whipping backlash from Russia. Not to mention of USA on-going economic wars with China.
You left out the glaringly vital causes of extreme money printing as the world economy stopped to a grinding halt, using covid psy op as an excuse.@@DreamyCheshire-up9rf
Depends what you eat.
Buy less stuff. Inflation can't affect you if you stop or reduce your consumerism
The same question for Germany 😂😂😂
OECD: Germany GDP 2023 -0.2%. UK +0.3%. Euro area +0.6%. Forecast 2024 by OECD: UK GDP +0.8%. Germany +0.9%. Euro area +1.1%. You're welcome. Fact-checking is not that hard.
Always the same. Class sizes, exam results, school buildings etc etc. That's just the Spiegel.
The next 12 months will be worse than 2008
Austerity and starving the people and putting them against one another.
The Great British way
Nothing will beat 1986/7 and the coldest winter since the 60's.
@@toyotaprius79 "??? Are we no-one to you..?" -Klaus Schwab & Co.
I highly doubt it
@@toyotaprius79not working anymore since the majority of people are against the tories
Governments worldwide must limit profit margin capitalists can make to 5%of invested capital. 2. Curtail uncontrolled capitalism. 3. Find out how much is personal wealth 9f the rich people. And set a limit on an individual can amass wealth. Distribute generated wealth to workers as more wages. Simply using interest rate as tool to control inflation will not work.
Exactly the same thing going on in Canada. Disgusting.
How much did UK spend on the King's Coronation? One may think it's still 1023!
The UK has definitely not lost control of it's economy. That's why it's in the dumper. Brexit was all about keeping control and that has worked out that way. It's just that it was all a very bad choice that will most likely just go from bad to worse for some time to come, but the UK is firmly in control and there is no one else to blame for the fiasco.
True. The Tories are in control but are doing what they always do - taking our money and making the rich richer.
Tories have lost their marbles
The elites better wake up, they can’t have it all.
I like how news channels on both sides point fingers and laugh at each others failing economies when really we are all going in the same directions.
same direction(down)
True, the whole continent is going on the same direction.
Germany has been in reccesion since last winter . Young germans want leave Germany we need 18 million new workers in gemany . The car industry is struggling power prices are alful. Its not like things in Germany are good.
Certain businesses are not looking for “guidance”, but state subsidies at taxpayers’ expense.
Growth latest figures (August 23), EU 0.4%, Uk 0.4%, Germany -0.7%
Maybe the UK has lost control but so has Germany and quite a few other EU countries.
Every civilization has a downfall
Yep. the West is in a steep terminal decline and barring some unforseen drastic changes it's all over.
They pay IT admins 12.50 an hour here. Its not hard to figure out that low pay is the problem.
And americans have the cheek to moan about their i.t jobs not making enough money huh 😅
Can you put links to the fertilisers you use?
Is this the normal standard of discourse in German media? I've got to say I'm impressed.
DW News is actually amazing, I am jealous af
Huh. A German news channel suggesting that Britain's economy is struggling, when the German economy has crashed through the floor! Broadcast a feature about how the kingpin of the EU has gone bust.
Germanys economy has growen continuously. UKs GDP 2023 is nearly the same like 2019.
UKs national debt is 100% equivalent of its GDP. Germanys is 60%.
Forecasts say, in 2024 Germanys economic grows will be recovered.
Why DW is making such assumptions? Looks like unfriendly kick in England’s butt. Let England speak on their own, make assumptions about Germany’s own economy😡👎🏼
just like in the us the small percentage have the most and the larger percentage are in a really big line hoping it pays off for them..
I’m honestly unsurprised Green energy measures are being rolled back. Here in the UK, myself and my own family included, are struggling to heat our homes due to rising energy cost. Renewable sources of energy like wind just is not efficient enough and coupled with the uk leaving the energy zone, costs have risen further. It isn’t a good situation and pressing consumers harden with green measures will only exacerbate an already shrinking economy.
America's economy is in shambles also. I’d be retiring or working less in 5 years, and considering this financial recession, I’m curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.
Do you have a 401k? you should contribute to your retirement diligently, or better still look into financial planning
Very true, I find myself lucky enough exposed to money management at an early age. Worked full time when I was 19, purchased first home at 28, fast forward time... I'm 50 now, got laid off March 2020 amidst lockdown, a blessing in disguise. At once, I consulted an advisor to stay afloat and with subsequent investments, I'm only 15% short of $1m as of today.
I find this interesting. Could you please provide me with the means to get in touch with your Adviser? I am concerned about my dwindling portfolio.
My adviser is "Debra Ella Nicholas". She has since provide entry and exit points on the securities I focus on. You can look her up online if you care for supervision.
Thanks for sharing this, I just looked her up on the web because this is equally important to me, and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Man, this economists' non-solution of more growth being the only path forward is frustrating.
And today's news it turns out that the UK out grew France and Germany 😂😂
The current UK Government has totally destroyed this country's economic performance. I just hope the Electorate will realise, having witnessed the failures of both the 2 major, traditional parties they should carefully consider the strategy of the REFORM UK Party which in theory should address all the major issues we are all now facing.
Germany better worry about itself.
Yeah. USA deindustralized Germany. USA bombed Germany gas pipelines. USA spied on Germany chancellor. Germany better worry about itself.
It's okay everything is on fire just a little bit.
What a bummer, poor Brits.... And after all, the City was supposed to be the "world's financial center" giving great prosperity to the Isles as the Brexiters' fairy tales told....
Here in Canada, it's to the point that if any food is under 3$, I just buy it because it's cheaper than usual. Even a single piece of fruit or veg. 1 kilo table salt 7.99, 12 eggs 5.50, 1lb butter 8.99, 1 bell pepper 2.50, 8 rolls of asswipe (grown and made 100 kilometers down the road) 10.99.
As someone living in the U.K. I really haven’t noticed any difference to my standards of living apart from things being more expensive in supermarkets and high fuel prices but isn’t that synonymous to all western countries at the moment?
Maybe you are part of Sunak family...
no everything is becoming more expensive at an unsustainable rate, my parents own a business and the ingredients they buy in bulk increased massively in 2022 q4 and this year, although prices are getting lower it isn't good that small business and people who are very susceptible to price changes such as people with mortgages who can't really pay it right now due to the interest rates are losing money quickly. Because we're all going to have less disposable income due to paying more, the economy will slow and we will also be poorer in real terms, if wages don't increase. I can't wait till labour come into power.
@@MaxTheLazyCat As such, is your parent going to increase the employees wages ?
Damn, you're rich.
You’re probably in te higher income part of society, the gap between you and those who are struggling is getting greater. This further destabilizes society.
Also as someone who lived in UK until last year reason of high inflation in UK is quite simple - runaway profeteering. Due of lack of any reasonable price control, and dismantling of few consumer agencies they had, companies are allowed to steamroll over citizenship without any concern. Of course, few of them actually have savings to burn, but that is short term thinking which pushes more wealth to wealthy elite. Of course, current political leadership is this wealthy elite, so it is all good in their books.
I expect inflation to pick up again due of rising fuel costs for winter. Let's pray for climate heating to deliver warm winter.
The wealthy elite including farage pushed this and profited from it.. now average UK citizen is suffering and half of us voted no to leave
Of course it is only due to the wealthy, It has nothing to do with green energy and sanctions LOL
Concern about UK economic state is like being concerned that an obesse had to trim its meals.
Quality journalism!
Not as much as Germany's.......
I am an Indian citizen studying in UK right now. I believe a solid leadership could change the course of UK's future. It is not because of lack skills, but it is just a transitional phase from which people should come out successfully. Such situation by itself would raise a strong leader, is that you?
You are Indian and have no right to decide what is good for the UK
Strong leadership and colonize again territories? because that is why UK was economically strong before xD
The UK has had such issues for a very long time. Productivity is low and they seem to rely on short term "quick fixes".
The education system, housing market etc are very long term. The complete unpreparness for an energy crises is typical. Only after it is devastating is someone reacting. How about a plan?
the economy is out of control everywhere in UE
Sadly. Germany and the troika poisoned the well, by sacking the periphery, and now we are all dying slowly
No, they haven't lost control. The tories wanted to wreck it, and they have. Job well done.
That's the intractable problem you have when you've got historically one party that can't run anything and the other that has lost all the people that could.
the problem is UK allows the investors and landlord to speculate on the price of house....We don't have this problem in Thailand
In Denmark a four bedroom house with front and back garden costs £500 a month to rent. Minimum wage is £20 an hour in Denmark. Denmark does not allow foreign investors to speculate on their housing market.
@@dudududuFthetoriesso based.
@@dudududuFthetoriesGood luck finding affordable rent in Danish cities.
@@Exxperiment626 The price of £500 a month is actually AFFORDABLE! I live in UK and I pay more for a room(not a house!)
@dudududuFthetories maybe in the countryside among the cows
Uk left EU saying they are spending a lot. The schools here are old, no investments, smelling like mold. Where they take the money, cannot understand.
You just wait until the energy price starts to hit with this new Russian diesel ban.
I would love to know where this comes from! I drive around in England and the UK and I can't see any evidence that wr are any worse off than any other period In my life! I hate this constant comparison with other countries! If you haven't realised that we are all in it together reality then where have you been all you're life! I mean seriously! You're only ad good as you're weakest component! Grow up and wake up
Stop driving and try walking around the city centres.
they're thirsting for evidence that the UK was wrong to leave the EU... they're obsessed with it... 🤣
There are now people begging in the streets...
There are now people living out of vehicles...
There's too many people... and they just keep coming... it can't end well.
they are likely taking their guidance from the BBC
Blah, blah, blah. 🥱
We're performing a bit better than Germany but that's not saying much!
Living wages have not kept up with cost of living, it's the same in the U.S. We are, most of us; getting pay cuts.
Yeh but no matter how much your pay gets cut still wont be as low as uk wages
Higher pay = higher inflation.
They get it wrong.
The more money pumped in the higher the prices will get.
Same thing in the US. How can two countries do exactly the same thing in their economy if it’s not a concerted and planned effort. Same interest rates hike- and same unaffordable housing, same inflation.
Exactly, and people still think it’s because of Brexit , the western world is being brought to its knees on purpose
Yep its funny how we end up with same problems but you still have higher wages and better houses going for you
The US has these problems, but not to the same extent (at least outside the Deep South).
It won't be so bad with the situation in the UK. They still have money left over to sponsor a war that is not theirs.
Putin is everybodys problem
we have to keep our spirits up and and watching Russian tank turrets explode is fun
Putin for an open window 2024! 😅
If you're from Sweden or the Netherlands, your own ruling class is part of the conspiracy. Own that, and do something about it.
It’s a real contrast driving around the UK today, parts of it look like 3rd world counties yet other parts are booming!
I always use construction as a barometer and TBH it’s hard to drive a few miles without seeing some form of construction!
Make of that what you will!
Anyone see all those employees at 1:35.....😮.....eventually those workers will also have to by the cars 😂
No but I know Germany’s has lost control now
Imagine that the Bank of England considers unemployment as a "positive"!
Its funny considering how authoritarian the government is on jobless people in the UK. If you don't have a job they treat you as a subhuman here
Germany: Hold my beer ....
Things are better than ever in the UK - this guy is complaining about a 8% pay rise says it all. The mainstream media is becoming farcical, I was in the south of France recently and it felt like I had got off the plane in downtown Lagos
I got off a plane at Manchester airport and headed to the Midlands. I thought I was travelling through Pakistan.
Rubbish! The UK's inflation rate, economic growth rate and unemployment rate are all within one and half percentage points of the average EU rates. Inflation is a little higher (+0.5%) in the UK, growth (-1.0%) and unemployment (-1.5%) are a little lower in the UK this year. Growth was also higher in the UK in 2021 & 2022. UK manufactured more than France in 2021 and total exports were only c.10% lower than in Japan. The pushback re some climate change targets (but not the commitment to net zero) is mirrored in the EU.
What is the UK exporting?
More precisely, what is the UK exporting that is made by UK-owned companies?
@@seanrm The proportion of foreign owned businesses in the UK at c. 28% is only a little higher than that of the EU at c. 25%. If I were an EU citizen I'd be much more worried about the significant, secular problems facing the EU, like it's demographic collapse, rather than whether the UK has a slightly lower economic growth rate in a particular year.
@@martinsingfield
I'm not worried about any of those things - I live in Japan. But I was genuinely interested in what, exactly, the UK was manufacturing & exporting.
I don't think I have a single thing in my house that was made by a British company, and I doubt that any of my Japanese friends and aquaintances have anything, either.
@@seanrm In 2022 the UK was the World's 5th largest exporter, ahead of Japan and virtually identical to France (which beat the UK by only 0.4%). The UK was also the World's 2nd largest exporter of services. The UK's main exports of goods are cars, gas turbines, oil, pharmaceuticals, refined oil products, aircraft parts. If you live in Japan then you wouldn't notice that these types of items were made in the UK. You might also assume that many Japanese brands were made in Japan, whereas they are probably made in China.
Good points Martin. Also, I find that people are totally unaware that most companies on the German DAX exchange are foreign-owned. People try to use completely irrelevant 1970s-era arguments. @@martinsingfield
UK has only Harry Potter and JK Rowling in their politics. Its a meme country.
8th largest manufacturer. And nobody ever talks about Harry Potter lol.
Place the "king" into Pubic Housing.
War is expensive!
7.33 - weak analysis. The markets punished the Truss government because they didn't believe cutting the higher rate was 'business friendly' - it would have had no effect on growth and it would have added to the debt. It's not like she was proposing an investment.
Theresa May once said this: "Once we have left the EU, we will be fully in control of who comes here. It will no longer be the case that EU nationals, regardless of the skills or experience they have to offer, can jump the queue ahead of engineers from Sydney or software developers from Delhi". However the illegal immigration has been more than pre-Brexit at the moment. She's one of the politicians who's responsible of this mess. They all need to be called to account now!
You are worried about immigration...and MANY citizens are worried about eating and heating not to mention health. Immigration was a red herring tossed to the crowd as a distraction of the real intent and interest behind Brexit. As always follow the money and it's certainly not in any "boat people's " pocket.
Don't forget breeding Boris
Brits wanted out of the EU anyway. Just another non-Brit who completely fails to understand.
@@mcarlsson74 probably you're still living in your pre-brexit matrix and in denial
Dude sounds like he knew what he was talking about. Impressive if the interview was impromptu.
Sunak is getting richer, so Britain is getting poorer. Sunak and the UK are inherently different worlds.😢
Lol you blame anyone except yourselves for the elitists you place in power.
Sunak was already a millionaire and his wife is already a billionaire
@@amanverma7033 But her wife had no tax to British before the Hindu vampire Sunak was in power. It can only say that the British deserve it since they chose this kind of stuff.
He was getting poorer at some point?
Should have ended bbgraghmin quota .
Its lost control of everything
Yes.
Decades ago yes...
This guy being interviewed really knows his stuff. He's answered the questions superbly. Good interview DW.
His familiarity with UK and his expert English is very impressive. I’m sure he’s a big earner and destined for great things.
bruh I fell in love listening to him
He’s German
The economy is like a fire. You can add fuel, or water, or just not add fuel.
Or add fire
Great interview, thanks!
Thanks bud for keepin us financially Educated! Regardless of how bad it gets on the economy, I still make over $22,000 every single week.
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She’s active with this 👇
Okay please can I get the info
UK economy is not in chaos, it still has strong banking sector.