A lot of reactors love America and hence love to react to American videos. And that's fine. But This video makes me realize it would be nice to see MORE of Your own home and how YOU feel about them since you have actual experience.
"Third world" doesnt actually mean undeveloped or shoddy. It was just a term given to countries that werent on the side of either the us (1st world) or the soviet union (2nd world) during the cold war. Its kinda just morphed into meaning under-developed.
Everything that underlies the economy is related to energy....so if energy costs alot, then the economy will be directly effected......this is why everything is so expensive....because ENERGY is so expensive. Its the same scenario in the USA. And alot of it is entirely based on political policies.
And yet oil is still cheaper now than it was back before the pandemic started. Everyone's economy got gimped during the lockdowns and response. That was a massive disruption worldwide. Meanwhile, people werent traveling like normal and discovered ordering stuff from amazon on the regular was fun. Then restrictions lifted, and as things started getting back to normal the economic landscape had changed. Corporations want their missed profits, and they're gonna get them one way or another. You dont rake in record profits because energy is expensive, after all. Look at opec oil pricing history and draw a straight line from the middle of the 20th century up to where we are now and you'll see oil prices are right about normal. Its always been a steady increase when you look at them as an average, with of course some amount of fluctuation above or below this line from year to year. Its just consumer demand shifting gears, the economy adjusting to these new demands, and companies grabbing back those missed earnings.
Things are getting pretty bad there, it’s not just this video. But this also bears true for much of the western world. Corporations own much of the homes in the west (Canada especially sees this) and they rent homes back to people making it nearly impossible for people to own homes now because there’s so few up to sell and you’re competing with a billion dollar company. They’re also building homes in places like California explicitly for illegals, whose presence is making the housing crisis even worse. Something eventually has to give
@@goldenageofdinosaurs7192 lemme guess, a girl didn’t just get raped to death by an illegal and I’m sure they didn’t recently sentence a man for the thought crime of praying
15:08 Yeah, 14 years of Tory rule will do that. I am honestly shocked sometimes when people do not realize what their government is doing. Thurston, I know you don't like politics (like most people) but it is important to stay informed. Great vid. I enjoy watching your reactions to England as much as the US.
@@erickvillegas8327 it won’t get any better with labour either but they’ll keep blaming it on partisan politics even though the foundation of the whole country has been long going to shit.
In addition, the world's largest economies, the EU, the US and China, have taken action to protect domestic producers and products from foreign competition. The UK does not belong to any of these economies and its products are not in demand.
Here is some good economic news for the UK: The country is finally developing an aerospace industry. The SaxaVord Spaceport rocket launch facility in the Shetlands should soon be in operation, and a second is under construction in Sutherland in northern Scotland. Some rockets need to be launched toward the North Pole, and the geography of Scotland makes it an ideal place for putting satellites into polar orbits.
That doesn't really sound like it will help the average person at all though. That market already has many countries tapping into it, and I am sure it required a lot of public investment. If that's the best news you could find then....sheesh
@@JPMadden I'm not sure if the British market has the demand for a domestic commercial rocketry industry. Even if it did, could it sustain itself without government support? The costs of energy are so high in the UK that everything for a rocket launch would be incredibly expensive than competitors, not to mention the green regulations it might end up facing. I just think that's a high level industry that needs to be done when it can be fueled by basic and mid level industry, and those industries are in need of public investment and attention way more. It comes down to whether or not a domestic commercial rocket industry is THE BEST thing to promote at this time.
@@DC_Greed I'm not claiming it's the best thing to promote. I'm not familiar with the challenges unique to the UK for the aerospace industry. But it's now a global market. I suspect that launches in the UK will be mostly of small rockets that do not require a massive amount of infrastructure and public investment. The smallest satellites ("CubeSats") are now only a 10 cm cube. It's part of the political religion of the U.S. that private industry can always do something better, more quickly, and less expensively than any government agency could. This assertion is nearly always wrong. But the revolution in commercial rocket launches, led by SpaceX, is a rare exception. (What SpaceX has accomplished is all the more remarkable considering that their leader is no longer sane.)
When I entered high school, along many of my peers, were working part time and full time summers to save for college. I always worked part time while I was going to college as well. I studied very hard and had a scholarship for tuition but had to keep my grades up. I graduated with nothing to pay back and my parents didn’t have the money to pay for college. I was not an uncommon case. Televised college sports make a lot of money for a number of Universities.
Your college must have been cheap or your job must have paid a lot. I went to community college in California in the 90's and credits were three dollars and fifty cents. My husband went to a more expensive school UofWA but worked at Microsoft at the time. Most people can't afford college these days and I think that is okay. My husband is still a programmer, even though he majored in Economics. I went to law school and hated it and now tame feral cats. College was not needed. I wish I had been a landscaper, cutting grass and trimming bushes. I love doing it at home.
@@donnabert I went to the University of Michigan and lived in Michigan so my tuition was a lot less than out of State students. That degree really opened doors for me and I had well paying jobs after graduation. I only paid for room and board and worked at jobs during high school and college and fill time between semesters. My parents couldn’t afford to help us financially. It was my dream to go to University of Michigan because it was a highly ranked school academically. It changed my life for the better and it opened doors for me job wise.
PS I always had jobs and saved every cent and no.., they weren’t high paying jobs. Everyone has different interests and goals and college isn’t necessary for everyone. I liked school from first grade and had health issues which prevented me from sports but I just loved learning.
As many as 2 million Americans are out of the workforce due to long covid. The UK is experiencing the same problem although its population is about 1/7 the US population. As we enter year five of the pandemic, with no end in sight, and people suffering repeat infection after repeat infection, the number of LC sufferers will continue to grow. LC is having a measurable effect on the global economy. It's estimated that 410 million people worldwide have LC with a toll of $1 trillion on global GDP.
Lav Luka and my British friends, ignore the gloom n doom news , Britain 🇬🇧 will not fall into the abyss. It’s not the first time Britain has been in challenging times. You get up in the morning , put your feet down, wash n groom yourself and get on to school or work, or look for a job, it’s not easy but Britain will prevail once again. As an American, I promise you 🫡
I am throwing out a comment that'll be a bit longer. Caspian Report is not a bad channel, and they have a pretty reasonable production quality. Something I want to talk about however is debt, it's effects and how it works. In the video, it is claimed that a lot more money is spent on servicing debt, reducing the amount of money available to spend on other necessities, like healthcare. This is true but also not. Government spending on interest is high because the Bank of England decided it needed to raise interest rates to combat inflation. During this time, many economists protested against this, because raising interest rates stops people from taking loans, so less private loans are taken and less money enters the economy. The inflation was not because money was entering the economy though, but because of a so called negative supply shock, meaning there were too little goods to go around, so their prices increased and are now finally coming down. Increasing interest rates does not deal with this problem. Secondly, government debt is serviced by new borrowing all the time. This works because the government isn't like a normal person that needs to get a loan from a private bank, the central bank, in the UK's case the Bank of England, is government backed. In simpler words, the government is the one lending itself money. When the government borrows money, it sells government bonds to private banks who are decided beforehand, with money they are given directly by the Bank of England and can't use otherwise. This process is called borrowing, but we also know it as something else, printing money. All the money the government prints is essentially printed and then written down as government debt, that's how our monetary system works. I won't get into major discussion about inflation through money printing here, but suffice to say that when the government prints money to pay of old debt it still has with the bank of England, it doesn't really add much new money into the private economy to cause inflation, it just renews the loan it has with itself. No money actually needs to enter the economy for this, it's just book keeping in the BoE, the new borrowed money never enters the economy, it is just written down as a new debt. The actual money that matters is from the original debt when it was spent into the private economy by the government, but so called rolling over debt is a common practice and happens all the time. Technically some money does flow into the private economy this way through interests on bonds held by private individuals or banks, but the Bank of England can always issue buybacks to hold the bonds itself. Since the BoE is a government institution it will never not accept rolling over the debt, wether it's 10 years 100 years or 500 years. The only way this changes is if the government ceases to exist. Wether an increase in debt means an increase in interest rates also depends on policy, Japan for example has a Debt to GDP ratio of over 200%, but it has been using a 0% rate policy, meaning there is almost no money flowing to service that debt, because it doesn't need to be serviced much at all. Also, the debt servicing just means there is more money flowing into the private economy, not necessarily ideal or useful, but not inherently a problem either, the money isn't lost it is wound up in the private sector where it eventually gets taxed anyway, in the majority of cases at least. Now, finally all of this means that government debt being too high in the Uk is a political decision that was made, to appeal to voters and certain private interests. 90% isn't a particualrly high Debt to GDP ratio globally. Debt is important to look at, but unlike it was framed in the video, the debt itself isn't actually the problem, the political decisions to make debt less easily accessible to fund projects are the problem, debt is not inherently bad, but in fact necessary. If there were no government debt, you would pretty much not have a currency, this is important to remember.
Thanks for a well written comment. There are too few of those. I have just a couple of nitpicky points: Negative supply shock was during, and right after, covid, and it was global. It's no longer in effect, unless we're arguing about continuing effects of Brexit supply chain disturbance. 2nd is about decisions on interest rates. £ was in free fall when rates were raised. That affects cost of living, but so does a depreciating £ in a country that must import much of its needs.
@@charles5a Well the effect was global, but that means it also affected the UK. Since it was a negative supply shock it still wasn't affected by the raise in interest rates, so I am not sure if it matters that it was global, although it definitely was, you are right. As for being no longer in effect, this is somewhat right. The effects of the covid supply shocks are long gone, but the shocks from the war in Ukraine are just about to finally disappear fully. Energy prices are mostly down, but some people are still paying increased prices as their contracts ran out during the height of the shock, that's why I said prices are just now coming down. I think I didn't clarify well enough I meant the supply shocks from the Russian invasion of Ukraine, not covid, when I said that. Mentioning the pound and import is of course another matter, you're quite right a weak pound isn't good for an economy that is heavily reliant on foreign imports. All in all, it's a topic we could talk about for more than the comment section is probably suited to, but suffice to say if I tried include exchange rates and it's effects on the standard of living it wouldn't have been a comment that's far too long already, but probably too long to post. I only wanted to clarify some points about why interest rates were raised initially, why the effect wasn't as desired, and why the cost of high interest rates is not a fiscal or economic necessity but a political choice, although what you said is right and was important to the UK, but it goes beyond what I wanted to really focus on with the previous comment.
American here - my family made sure I stayed in touch with my Anglo-European roots, particularly throughout the UK, and I can tell you that my heart is broken over what is happening to my ancestral homeland.
@@epongeverte the EU is one of the most evil and controlling organizations in the world. No better than communism except they pretend not to be. Controlling the internet and banning memes? They demonize and fine countries that didn’t want to let migrants in.
Mr. Luka, did you see the article in yesterday's 'Telegraph' titled: "Civilians must be ready to fight because Britain’s military is so small, warn peers." The article is a call for all Brits to develop the mindset, and be prepared, to fight a war with Russia. One paragraph reads: "Sir Patrick, who stood down as chief of the general staff in June, believed there should be a “shift” in the mindset of regular British people, where they think more like troops, who are mentally prepared that war with Russia could happen." END. It sounds like your government is preparing for war and trying to get the public to accept this as inevitable. What's your opinion about this, Mr. Luka?
I really like Caspian Report. Shirvan does his research and watching his videos is like peering behind the curtain to see what is really happening. He looks at more that what the headline issues are. He looks at what is causing them and his insights into Geopolitics and Economics are unrivaled in my book. I’ve seen him take on very complicated issues like the Middle East, and clearly spell out what is happening behind the scenes that we never pay attention to. If I were you I would watch and react to more of his videos. I feel like my IQ increases every time I watch one of his videos, and I think more people need to listen to him.
Hey Lav, the US has about the same trend on the economy. The last four years has messed us up. Also we are being picked apart by 'Vultures' who say they are helping us. We are hoping for a new experienced leader to turn this around. He is a radical but savvy business man (and a bumbling fool at times) but we hope that can be the difference to stop the spiraling fall of our economy and country. Wish you and your country a miracle also. These are scary times. Stay strong.
Whats important here is that the assumption that economic growth via growth in consumption increase living standards. It really doesent past the point where the needs of the people are met. After which any gains are destructive to the continued existance of the environment and the current system. I have had a convoersation with my neighbour on cheep consumer items recently. They like to buy cheep goods from ikea that will lastr only a couple years before needing replacment, and outright make way more waste then we do. In fact they asked me, why i havent put out garbage bags ont the street, to whihc i replied that we dont need to be we dont make waste. In fact it is family policy that we dont replace anything when broken or out of date until it no longer can be repaired. AND i havent bought clothes besides undergarnments, including osckss for over 10 years, AND the clothes/stuff my grandparents left behind is more then enough for a long while too. The truth is that the world has reduced the quality of their consumer items so that they get bought more frequently and the considered that as growth. I on the other hand prefer to buy something once for a slightly higher price that lasts decades rather then having to rebuy every couple years. I prefer REAL furnitiure and stuff, not plastic and chipboard garbage. IF everyone adopted my methods then wed have no economic growth whatsoever but true living standards would be still high and have no reason to be low. Applying our accumulated science knowledge and manufacturing processes to a world before the industrial age would infact explode instead of the consumptioion expolding only. This would raise the living standards to godlike levels. However to enforce that happens requires a pretty harsh cutback, which is occuring now for several reasons, while removing the incentive for corruption and inequality. If tht doesnt happen then trouble occurs. Degrowth isnt optional, its manditory and whether its planned or occurs naturally are the only options for the future
Growth is measured by GDP, and GDP has become a fake metric. In 1993 and 2008, GDP calculations were changed to account for financial services. That was the biggest scam. In the past, interest used to be considered an expense, because it doesn't produce anything. Now, it's adds to GDP. Do you see the problem?
@@kiedranFan2035 At least everybody would know we're going in the wrong direction, and things get fixed before they become impossible to fix. When the students are failing, the solution isn't to water down the test.
The economy is doing bad because you're not working hard enough Lav Luka, you gotta pump out those videos, then finally start that OF to bring up the UK's economy lol ;D do itttt...
Just repeating what the video showed. 1. Not investing in productivity but did austerity, lowering productivity. This means that every $1 you put you only get $1.10 2. Cost of energy increased after Ukraine war. Higher energy hits everything productivity meaning business expense cost increase, cost of living increase so nobody spends money in the economy round and round it goes. 3. Higher interest rate. If there was any money left from government to fix the problem just went to paying the interest of the debt. 4. Demographic problem less population. Less workers less demand consumption businesses don't make that much money less money. Also again less productivity in the country. There The amount of people using government services will only increase and the amount of people actually paying for those services (taxes) will be less. In my conclusion, you have more expenses that revenue any solution means you have to give up social services given to the people on which no government will be able to survive to act upon it. Because any solution will need a substantial amount of revenue you either increase taxes (not just the rich but also middle class even below) or cut spending.
Seems a bit extreme. If only politicians were people who were any good at doing anything (otherwise they wouldn't be in politics). A BREXIT-like 25% drop in foreign investment would even stagger the US economy.
The economics of wealthier, older nations repeatedly teach us that a moderate and steady flow of immigrants is vitally necessary. It does not matter whether they arrive illegally or whether we don't want them here at all. In the U.S., many of the big businesses that have a strong influence on government policies privately, I suspect, love illegal immigration. What heartless corporation wouldn't love millions of workers who can be exploited?
The billion was correct, its just that it looks off when its a city being compared to other countries. Hence the billions rather than trillions above it.
Didn't UK had major problems in the past like this. I feel like with NYC which wasvworse in the 70 to 90s we act like things are bad which it is yet theirs always been times when London was terrible or really bad for awhile. Big cities could gave these bad times. Look at NYC which went bankrupt at one point.
If someone works hard and earns a lot of money, why should he or she be forced to help out the people who refuse to work? No one should be forced to share their money with anyone else. Sure the rich person should help in some way, but the government should never have the power to force anyone to do anything. Britain and must of Europe are failing because their leaders are opening up their borders to people to do not want the best for the local nations and their citizens. Moreover, the Europeans are too focused on allowing their government to dole out more handouts. People who work hard and save money should be celebrated and not castigated. Europeans want the easy life without putting in the work necessary to obtain that lifestyle.
Rich people take money from poor people far more than poor people take it from rich. Did you listen to this video that told how many BILLIONS the UK people gave BANKS. THEY GAVE MONEY TO BANKS. WTF? BILLIONS. So yeah, you have some very simplistic views on economics.
@@donnabert You keep asking people if they listened to the video, as if some video by an extreme Leftist (like you) is fact. But, of course, you fit with the Stalin/Mao mold of Communist, believing that other people must get YOUR permission to use words.
@@donnabert You have no idea how economics work. If you did, you would realize that your comment makes no sense. The people in the UK allowed their government to tax them to death. These people allowed dumb, corrupt politicians to create rules and laws to remove money from the people and to spend as the government wants. Normally this means large (corrupt) social programs. My point is that no government should ever have the power to overtax anyone and take money from Peter to pay Paul. The people-- rich and poor -- allowed this to happen. The entire UK society is at fault the problems the UK now faces. Instead of demanding more from the productive members of UK society, the people must begin to demand a political reform which will lessen governmental power and allow the people to keep their own money. Over taxation is theft. Plain and simple. If every UK citizen were forced to take responsibility for their own lives instead of relying on the politicians to decide. Rich people do not take anything from the poor. They may take out a loan to build a business, but that loan must be paid back with interest. If the rich are stealing from the government and the government continues to allow it to happen, then the people are still at fault because they keep voting in the same corrupt politicians over and over again. I do not care if someone legally earns 20 trillion dollars or pounds per second. People should be allowed to earn as much as possible as long as it is by legal means. No government should dictate how much a rich person keeps nor spends. Rich people created the businesses that drive the economy and feed millions within society. Without a rich person who began the company for whom you work, you would not have a job. Stop castigating people for being rich and demand that the government lower taxes and cut the corrupt social programs which waste billions. Remember government is never your friend. Far too many people in the UK believe that governments are saviors when the reality is quite the opposite. No one owes you and me anything. Each person is responsible for themselves. The sooner people realize that the better off the world will be.
The UK has issues just like everywhere else. Here in the US, inflation also has been horrible and its said we have the highest food insecurity that weve had in decades. (Meaning more people who struggle to buy food). The american people are constantly at each others throats and our national debt is outrageous. I am not an expert on the UK economy, but i suspect this, as another person commented, is "sensationalized". If i were you, i would do research from multiple different sources before forming a definite opinion and then look at ways in which you can better the place you live and encourage others around you to do. Use your awesome platform to make suggestions and encourage productivity. The UK is not doomed. Many people say we in the US are doomed but we're not either. Hard times happen to everyone, and its how pick ourselves up, adapt, and change that counts. Keep your chin up ❤
Students get 9K a year? I wonder what's wrong lol. Imagine if they were working part time? even if you gotta live at home. Yes in the US you take out a loan and are paying it back. With your job.
@@donnabert are you psychotic? A Lot of people don’t pay it back they default on car loans mortgages and get kicked out. Same with student loans. Where do you live Lala land where everyone is perfect and does as they’re told?
I worked as a student. A bunch of my roommates all got a job at the same place. My parents paid for tuition and housing so I used that money for booze, a little bit of fun, and cigs
I’m hoping the new leaders will restore the public’s trust in government. Your country has so much to offer. I wish the 🇺🇸 had your short election time.
Actually two things: saying "third world" is considered bad now, stop doing it. Two, it was Brexit and the deportation of immigrants that caused the problem and if you had watched the video you'd know that and not look so clueless.
@@donnabert And who appointed you as the language police, deciding what other people are and are not allowed to say? It is extreme arrogance to think YOU get to decide!
@@RogCBrand I'm just the messenger. I didn't decide it. If you want to stay ignorant then don't read my posts because I have the feeling I know a lot more things that you don't.
It doesnt help that you guys gave up your seat at the EU bargaining table with Brexit. That was just a bonehead move all around. The leavers expected what, that they'd get to leave AND keep their good trade deals or somehow negotiate better ones with less say? Foolish.
This video seems to tip-toe around the root cause of this, mass importation of unskilled people. Everything else mentioned is just the effect of a nation not being able to adjust fast enough from those hardships due to the extra burden of people who don't and won't be able to effectively contribute for decades to come. The video would rather blame everything else but the root cause.
"it wasn't supposed to happen" tell that to the boomers who voted for Brexit. Then ask them how it has benefitted them. Then tell them it has damaged every part of the country from the economy to even immigration, it was even supposed to be an immigration referendum according to the Brexiteers! Now we have closed the door for our Europeans and are letting in more people from regions like MENA which is the "bad type of immigration" (according to them, not my words).
A rapper named Luka Lavish. Who's on TH-cam. It seems like Thurston wasn't creative with his username. When he started his channel, it was Lavish Luka. Then just shorten to the username we see today of "Lav Luka"
So much happiness and joy $47k weekly returns has been life changing. AWESOME GOD I now have a house and can now afford anything for my family even with my Retirement..
Wow...I know her too she is a licensed broker and a FINRA agent she is popular in US and Canada she is really amazing woman with good skills and experience.
@@l.t.1305 Why would South Carolina want to be part of the USA? They can make it on their own, -RIGHT-? The UK has plenty to offer to strengthen the EU. Now everyone suffers for the loss. América suffers the 'stupid' because they don't understand the difference. Obviously...🤣🤣
@@donnabert you really think a theoretical 25% increase in foreign investment in London would’ve saved the country’s ass? Yeah I listened to the video and only complete rubes like you would believe that explains everything.
Then it is their social net programs and the tremendous amount of money pumped in by QE programs, money pumped in during Covid, both which expanded the economy but with the majority of citizens part of a welfare state (not talking about free health) you have little innovation or growth that can absorb the cash infusions
Labour was not responsible for Brexit, and they just formed a government this past summer. These trends are greatly attributed to the policies and rhetoric of the right.
Blaming the problems of capitalism on a few thousand poor people with no power instead of the billionaires who own everything, make every political decision and control every lever of power is so colossally dumb that you should be embarrassed to type those words.
UK leaving the EU could still be a good thing, but UK hasn't picked the right person to lead. Uk should push companies to be more innovative instead of regulating companies especially startup companies. EU = 99% regulation, 1% innovation of regulations. Europe is becoming irrelevant due to lack of innovation and a aging population. Europe is falling way behind in AI technology, electric vehicle technology.
I'm surprised that you are surprised. The UK has been described as having a third-world economy with a world-class London for the last ten to fifteen years. With the loss of most of its colonial holdings, its lack of natural resources, and its losses during WWII: the UK is just a shadow of itself prewar. Its Brexit made things even worse. Thank goodness for your Commonwealth and your "Special Relationship" with the USA. As a person from the USA, may I say, I love you guys and thank you for your many contributions to civilization.
The American economy is the strongest on the planet. The American inflation continues to drop and the proof is in the recent drop in FED interest rates.
The US is a country of immigrants. The UK is 78% British white people, and 83% white overall. A little bit of immigration from certain places really stands out in the tiny country and easily breeds resentment as you're seeing. The US and UK are very different places despite everyone thinking they are similar just because the majority speak English, so it's always silly to see the US treated as a natural comparison for the UK when you might as well be comparing apples to cars.
@@stevenwilgus5422 The US economy is fueled by debt and defense (war) spending. It's only possible to maintain a $35 tn national debt and massive defense spending because the USdollar is the world's reserve currency. When one understands this, it becomes clear why the US military is constantly threatening nations that may challenge dollar supremacy.
Canada yes, but the US no Americans dont realize how wealthy their country is and just how much better off even like unskilled grocery store workers are in the US compared to mid level professionals in canada and the UK
Hi Thurs, I have watched this video twice and I find it very disturbing, however you can do the same video for the US and it will look bad as it did for the UK. Move to the US and see if our problems are not as bad as yours. Have you seen our Presidential Candidates? Talk about scary.
The US suffers from similar underlying problems, but not nearly to that extent. The US has a lot of natural resources, and didn't de-industrialize to the same extent as UK. Also, the US didn't Brexit to cut off their nose to spite their face.
My country is also suffering, that's why I'm voting for President Trump. He will stop the war in Ukraine and save my country from disappearing into the abyss.
A lot of reactors love America and hence love to react to American videos. And that's fine. But This video makes me realize it would be nice to see MORE of Your own home and how YOU feel about them since you have actual experience.
Your reaction on British vids provide us with first hand commentary! Thanks
"Third world" doesnt actually mean undeveloped or shoddy. It was just a term given to countries that werent on the side of either the us (1st world) or the soviet union (2nd world) during the cold war. Its kinda just morphed into meaning under-developed.
Everything that underlies the economy is related to energy....so if energy costs alot, then the economy will be directly effected......this is why everything is so expensive....because ENERGY is so expensive. Its the same scenario in the USA. And alot of it is entirely based on political policies.
And yet oil is still cheaper now than it was back before the pandemic started. Everyone's economy got gimped during the lockdowns and response. That was a massive disruption worldwide. Meanwhile, people werent traveling like normal and discovered ordering stuff from amazon on the regular was fun. Then restrictions lifted, and as things started getting back to normal the economic landscape had changed. Corporations want their missed profits, and they're gonna get them one way or another. You dont rake in record profits because energy is expensive, after all. Look at opec oil pricing history and draw a straight line from the middle of the 20th century up to where we are now and you'll see oil prices are right about normal. Its always been a steady increase when you look at them as an average, with of course some amount of fluctuation above or below this line from year to year. Its just consumer demand shifting gears, the economy adjusting to these new demands, and companies grabbing back those missed earnings.
And lmao, had to edit that because i typed "thongs" instead of "things"😂
US is also a federal republic where each state sets their own policies compared to the UK.
Just remember Lav . . . These types of video like to sensationalize for the views.
Exactly what I was thinking.
Things are getting pretty bad there, it’s not just this video. But this also bears true for much of the western world. Corporations own much of the homes in the west (Canada especially sees this) and they rent homes back to people making it nearly impossible for people to own homes now because there’s so few up to sell and you’re competing with a billion dollar company. They’re also building homes in places like California explicitly for illegals, whose presence is making the housing crisis even worse. Something eventually has to give
@@Catherine.Dorian.🤦♂️
@@goldenageofdinosaurs7192 lemme guess, a girl didn’t just get raped to death by an illegal and I’m sure they didn’t recently sentence a man for the thought crime of praying
Caspian Report & Good Times Bad Times are goated geopolitic channels
15:08 Yeah, 14 years of Tory rule will do that. I am honestly shocked sometimes when people do not realize what their government is doing. Thurston, I know you don't like politics (like most people) but it is important to stay informed. Great vid. I enjoy watching your reactions to England as much as the US.
Lol you can blame it just the tories all you want but the UK was gonna go down the toilet anyways.
@@tysonreuter5788 It wasn't just the tories, lol, but they certainly made things worse.
@@erickvillegas8327 it won’t get any better with labour either but they’ll keep blaming it on partisan politics even though the foundation of the whole country has been long going to shit.
@@tysonreuter5788 Labour as a whole is better than tories even if the margin is not that great. if Tories are 3/10, Labour is 6/10
In addition, the world's largest economies, the EU, the US and China, have taken action to protect domestic producers and products from foreign competition. The UK does not belong to any of these economies and its products are not in demand.
Here is some good economic news for the UK: The country is finally developing an aerospace industry. The SaxaVord Spaceport rocket launch facility in the Shetlands should soon be in operation, and a second is under construction in Sutherland in northern Scotland. Some rockets need to be launched toward the North Pole, and the geography of Scotland makes it an ideal place for putting satellites into polar orbits.
Even better for when Scotland get there independence back
That doesn't really sound like it will help the average person at all though. That market already has many countries tapping into it, and I am sure it required a lot of public investment. If that's the best news you could find then....sheesh
@@DC_Greed Building and launching rockets is now a commercial industry. There will be jobs created for British companies, jobs that pay well.
@@JPMadden I'm not sure if the British market has the demand for a domestic commercial rocketry industry. Even if it did, could it sustain itself without government support? The costs of energy are so high in the UK that everything for a rocket launch would be incredibly expensive than competitors, not to mention the green regulations it might end up facing. I just think that's a high level industry that needs to be done when it can be fueled by basic and mid level industry, and those industries are in need of public investment and attention way more. It comes down to whether or not a domestic commercial rocket industry is THE BEST thing to promote at this time.
@@DC_Greed I'm not claiming it's the best thing to promote.
I'm not familiar with the challenges unique to the UK for the aerospace industry. But it's now a global market. I suspect that launches in the UK will be mostly of small rockets that do not require a massive amount of infrastructure and public investment. The smallest satellites ("CubeSats") are now only a 10 cm cube.
It's part of the political religion of the U.S. that private industry can always do something better, more quickly, and less expensively than any government agency could. This assertion is nearly always wrong. But the revolution in commercial rocket launches, led by SpaceX, is a rare exception. (What SpaceX has accomplished is all the more remarkable considering that their leader is no longer sane.)
When I entered high school, along many of my peers, were working part time and full time summers to save for college. I always worked part time while I was going to college as well. I studied very hard and had a scholarship for tuition but had to keep my grades up. I graduated with nothing to pay back and my parents didn’t have the money to pay for college. I was not an uncommon case. Televised college sports make a lot of money for a number of Universities.
Your college must have been cheap or your job must have paid a lot. I went to community college in California in the 90's and credits were three dollars and fifty cents. My husband went to a more expensive school UofWA but worked at Microsoft at the time. Most people can't afford college these days and I think that is okay. My husband is still a programmer, even though he majored in Economics. I went to law school and hated it and now tame feral cats. College was not needed. I wish I had been a landscaper, cutting grass and trimming bushes. I love doing it at home.
@@donnabert I went to the University of Michigan and lived in Michigan so my tuition was a lot less than out of State students. That degree really opened doors for me and I had well paying jobs after graduation. I only paid for room and board and worked at jobs during high school and college and fill time between semesters. My parents couldn’t afford to help us financially. It was my dream to go to University of Michigan because it was a highly ranked school academically. It changed my life for the better and it opened doors for me job wise.
PS I always had jobs and saved every cent and no.., they weren’t high paying jobs. Everyone has different interests and goals and college isn’t necessary for everyone. I liked school from first grade and had health issues which prevented me from sports but I just loved learning.
As many as 2 million Americans are out of the workforce due to long covid. The UK is experiencing the same problem although its population is about 1/7 the US population. As we enter year five of the pandemic, with no end in sight, and people suffering repeat infection after repeat infection, the number of LC sufferers will continue to grow. LC is having a measurable effect on the global economy. It's estimated that 410 million people worldwide have LC with a toll of $1 trillion on global GDP.
This dude is still talking about covid lol
@@AKPhilly Well, since his Communist Chinese masters were the ones to release it, no wonder he keeps thinking about it.
Lav Luka and my British friends, ignore the gloom n doom news , Britain 🇬🇧 will not fall into the abyss. It’s not the first time Britain has been in challenging times. You get up in the morning , put your feet down, wash n groom yourself and get on to school or work, or look for a job, it’s not easy but Britain will prevail once again. As an American, I promise you 🫡
How? Do you see an angle they're working on?
And this explains why the internet is overrun by British youtubers....nothing else to do.
And the US loves British TH-camrs, like another state here. exotic like Florida, Hawaii or Alaska. Always entertaining.
I am throwing out a comment that'll be a bit longer.
Caspian Report is not a bad channel, and they have a pretty reasonable production quality. Something I want to talk about however is debt, it's effects and how it works.
In the video, it is claimed that a lot more money is spent on servicing debt, reducing the amount of money available to spend on other necessities, like healthcare.
This is true but also not. Government spending on interest is high because the Bank of England decided it needed to raise interest rates to combat inflation.
During this time, many economists protested against this, because raising interest rates stops people from taking loans, so less private loans are taken and less money enters the economy.
The inflation was not because money was entering the economy though, but because of a so called negative supply shock, meaning there were too little goods to go around, so their prices increased and are now finally coming down.
Increasing interest rates does not deal with this problem.
Secondly, government debt is serviced by new borrowing all the time. This works because the government isn't like a normal person that needs to get a loan from a private bank, the central bank, in the UK's case the Bank of England, is government backed.
In simpler words, the government is the one lending itself money.
When the government borrows money, it sells government bonds to private banks who are decided beforehand, with money they are given directly by the Bank of England and can't use otherwise.
This process is called borrowing, but we also know it as something else, printing money.
All the money the government prints is essentially printed and then written down as government debt, that's how our monetary system works.
I won't get into major discussion about inflation through money printing here, but suffice to say that when the government prints money to pay of old debt it still has with the bank of England, it doesn't really add much new money into the private economy to cause inflation, it just renews the loan it has with itself.
No money actually needs to enter the economy for this, it's just book keeping in the BoE, the new borrowed money never enters the economy, it is just written down as a new debt.
The actual money that matters is from the original debt when it was spent into the private economy by the government, but so called rolling over debt is a common practice and happens all the time.
Technically some money does flow into the private economy this way through interests on bonds held by private individuals or banks, but the Bank of England can always issue buybacks to hold the bonds itself.
Since the BoE is a government institution it will never not accept rolling over the debt, wether it's 10 years 100 years or 500 years. The only way this changes is if the government ceases to exist.
Wether an increase in debt means an increase in interest rates also depends on policy, Japan for example has a Debt to GDP ratio of over 200%, but it has been using a 0% rate policy, meaning there is almost no money flowing to service that debt, because it doesn't need to be serviced much at all.
Also, the debt servicing just means there is more money flowing into the private economy, not necessarily ideal or useful, but not inherently a problem either, the money isn't lost it is wound up in the private sector where it eventually gets taxed anyway, in the majority of cases at least.
Now, finally all of this means that government debt being too high in the Uk is a political decision that was made, to appeal to voters and certain private interests. 90% isn't a particualrly high Debt to GDP ratio globally.
Debt is important to look at, but unlike it was framed in the video, the debt itself isn't actually the problem, the political decisions to make debt less easily accessible to fund projects are the problem, debt is not inherently bad, but in fact necessary.
If there were no government debt, you would pretty much not have a currency, this is important to remember.
Thanks for a well written comment. There are too few of those.
I have just a couple of nitpicky points:
Negative supply shock was during, and right after, covid, and it was global. It's no longer in effect, unless we're arguing about continuing effects of Brexit supply chain disturbance.
2nd is about decisions on interest rates. £ was in free fall when rates were raised. That affects cost of living, but so does a depreciating £ in a country that must import much of its needs.
@@charles5a Well the effect was global, but that means it also affected the UK. Since it was a negative supply shock it still wasn't affected by the raise in interest rates, so I am not sure if it matters that it was global, although it definitely was, you are right.
As for being no longer in effect, this is somewhat right. The effects of the covid supply shocks are long gone, but the shocks from the war in Ukraine are just about to finally disappear fully. Energy prices are mostly down, but some people are still paying increased prices as their contracts ran out during the height of the shock, that's why I said prices are just now coming down.
I think I didn't clarify well enough I meant the supply shocks from the Russian invasion of Ukraine, not covid, when I said that.
Mentioning the pound and import is of course another matter, you're quite right a weak pound isn't good for an economy that is heavily reliant on foreign imports.
All in all, it's a topic we could talk about for more than the comment section is probably suited to, but suffice to say if I tried include exchange rates and it's effects on the standard of living it wouldn't have been a comment that's far too long already, but probably too long to post.
I only wanted to clarify some points about why interest rates were raised initially, why the effect wasn't as desired, and why the cost of high interest rates is not a fiscal or economic necessity but a political choice, although what you said is right and was important to the UK, but it goes beyond what I wanted to really focus on with the previous comment.
American here - my family made sure I stayed in touch with my Anglo-European roots, particularly throughout the UK, and I can tell you that my heart is broken over what is happening to my ancestral homeland.
Reversing Brexit would help.
💯
@@epongeverte the EU is one of the most evil and controlling organizations in the world. No better than communism except they pretend not to be. Controlling the internet and banning memes? They demonize and fine countries that didn’t want to let migrants in.
The EU ain’t letting them back in though.
Mr. Luka, did you see the article in yesterday's 'Telegraph' titled: "Civilians must be ready to fight because Britain’s military is so small, warn peers." The article is a call for all Brits to develop the mindset, and be prepared, to fight a war with Russia. One paragraph reads: "Sir Patrick, who stood down as chief of the general staff in June, believed there should be a “shift” in the mindset of regular British people, where they think more like troops, who are mentally prepared that war with Russia could happen." END. It sounds like your government is preparing for war and trying to get the public to accept this as inevitable. What's your opinion about this, Mr. Luka?
Bunch of sensationalized nonsense
Besides, nothing is wrong with America's (CA, US) military. Not to worry! We are your closest allies under all circumstances.
Students get loans also same as uk in America some never need get paid back
I really like Caspian Report. Shirvan does his research and watching his videos is like peering behind the curtain to see what is really happening. He looks at more that what the headline issues are. He looks at what is causing them and his insights into Geopolitics and Economics are unrivaled in my book. I’ve seen him take on very complicated issues like the Middle East, and clearly spell out what is happening behind the scenes that we never pay attention to. If I were you I would watch and react to more of his videos. I feel like my IQ increases every time I watch one of his videos, and I think more people need to listen to him.
Hey Lav, the US has about the same trend on the economy. The last four years has messed us up. Also we are being picked apart by 'Vultures' who say they are helping us. We are hoping for a new experienced leader to turn this around. He is a radical but savvy business man (and a bumbling fool at times) but we hope that can be the difference to stop the spiraling fall of our economy and country. Wish you and your country a miracle also. These are scary times. Stay strong.
Prices are rising in the U.S. too. Especially food. It is insane the way the cost of food has increased. I am not sure how families survive.
Whats important here is that the assumption that economic growth via growth in consumption increase living standards. It really doesent past the point where the needs of the people are met. After which any gains are destructive to the continued existance of the environment and the current system. I have had a convoersation with my neighbour on cheep consumer items recently. They like to buy cheep goods from ikea that will lastr only a couple years before needing replacment, and outright make way more waste then we do. In fact they asked me, why i havent put out garbage bags ont the street, to whihc i replied that we dont need to be we dont make waste. In fact it is family policy that we dont replace anything when broken or out of date until it no longer can be repaired. AND i havent bought clothes besides undergarnments, including osckss for over 10 years, AND the clothes/stuff my grandparents left behind is more then enough for a long while too. The truth is that the world has reduced the quality of their consumer items so that they get bought more frequently and the considered that as growth. I on the other hand prefer to buy something once for a slightly higher price that lasts decades rather then having to rebuy every couple years. I prefer REAL furnitiure and stuff, not plastic and chipboard garbage. IF everyone adopted my methods then wed have no economic growth whatsoever but true living standards would be still high and have no reason to be low. Applying our accumulated science knowledge and manufacturing processes to a world before the industrial age would infact explode instead of the consumptioion expolding only. This would raise the living standards to godlike levels. However to enforce that happens requires a pretty harsh cutback, which is occuring now for several reasons, while removing the incentive for corruption and inequality. If tht doesnt happen then trouble occurs. Degrowth isnt optional, its manditory and whether its planned or occurs naturally are the only options for the future
Growth is measured by GDP, and GDP has become a fake metric. In 1993 and 2008, GDP calculations were changed to account for financial services. That was the biggest scam. In the past, interest used to be considered an expense, because it doesn't produce anything. Now, it's adds to GDP.
Do you see the problem?
@charles5a and without it, we'd be falling in gdp with almost the econ people running around like headless chickens?
@@kiedranFan2035 At least everybody would know we're going in the wrong direction, and things get fixed before they become impossible to fix.
When the students are failing, the solution isn't to water down the test.
The economy is doing bad because you're not working hard enough Lav Luka, you gotta pump out those videos, then finally start that OF to bring up the UK's economy lol ;D do itttt...
😖
Just repeating what the video showed.
1. Not investing in productivity but did austerity, lowering productivity.
This means that every $1 you put you only get $1.10
2. Cost of energy increased after Ukraine war.
Higher energy hits everything productivity meaning business expense cost increase, cost of living increase so nobody spends money in the economy round and round it goes.
3. Higher interest rate.
If there was any money left from government to fix the problem just went to paying the interest of the debt.
4. Demographic problem less population.
Less workers less demand consumption businesses don't make that much money less money. Also again less productivity in the country. There
The amount of people using government services will only increase and the amount of people actually paying for those services (taxes) will be less.
In my conclusion, you have more expenses that revenue any solution means you have to give up social services given to the people on which no government will be able to survive to act upon it.
Because any solution will need a substantial amount of revenue you either increase taxes (not just the rich but also middle class even below) or cut spending.
Seems a bit extreme. If only politicians were people who were any good at doing anything (otherwise they wouldn't be in politics). A BREXIT-like 25% drop in foreign investment would even stagger the US economy.
It's why I'm a technocrat and we need more technocrats and fewer politicians
Brexit has done alot of damage to the UK economy. I wish u all nothing but the best. Love & blessings from the USA. ❤❤
I love Caspian report!
The economics of wealthier, older nations repeatedly teach us that a moderate and steady flow of immigrants is vitally necessary. It does not matter whether they arrive illegally or whether we don't want them here at all. In the U.S., many of the big businesses that have a strong influence on government policies privately, I suspect, love illegal immigration. What heartless corporation wouldn't love millions of workers who can be exploited?
All brought to you from the wef
I have hope that the UK will turn it around!
Escape to America while you still can, Thurston! 😂
Heard recently that the new home sales in London are majority Indian/Pakistani buyers, not native Brits. It’s definite interesting demographic change.
The billion was correct, its just that it looks off when its a city being compared to other countries. Hence the billions rather than trillions above it.
Yeah, youtubes auto quality stinks and its annoying that it starts at that when opening a vid. have to always choose the quality.
This is called Karma
Gee! Luc, tell us more about Britain.
Didn't UK had major problems in the past like this. I feel like with NYC which wasvworse in the 70 to 90s we act like things are bad which it is yet theirs always been times when London was terrible or really bad for awhile. Big cities could gave these bad times. Look at NYC which went bankrupt at one point.
If someone works hard and earns a lot of money, why should he or she be forced to help out the people who refuse to work? No one should be forced to share their money with anyone else. Sure the rich person should help in some way, but the government should never have the power to force anyone to do anything. Britain and must of Europe are failing because their leaders are opening up their borders to people to do not want the best for the local nations and their citizens. Moreover, the Europeans are too focused on allowing their government to dole out more handouts.
People who work hard and save money should be celebrated and not castigated. Europeans want the easy life without putting in the work necessary to obtain that lifestyle.
Yes refugees willing to risk their lives crossing the channel are lazy. Give me a break
Rich people take money from poor people far more than poor people take it from rich. Did you listen to this video that told how many BILLIONS the UK people gave BANKS. THEY GAVE MONEY TO BANKS. WTF? BILLIONS. So yeah, you have some very simplistic views on economics.
@@donnabert You keep asking people if they listened to the video, as if some video by an extreme Leftist (like you) is fact. But, of course, you fit with the Stalin/Mao mold of Communist, believing that other people must get YOUR permission to use words.
@@donnabert You have no idea how economics work. If you did, you would realize that your comment makes no sense. The people in the UK allowed their government to tax them to death. These people allowed dumb, corrupt politicians to create rules and laws to remove money from the people and to spend as the government wants. Normally this means large (corrupt) social programs.
My point is that no government should ever have the power to overtax anyone and take money from Peter to pay Paul. The people-- rich and poor -- allowed this to happen. The entire UK society is at fault the problems the UK now faces. Instead of demanding more from the productive members of UK society, the people must begin to demand a political reform which will lessen governmental power and allow the people to keep their own money.
Over taxation is theft. Plain and simple. If every UK citizen were forced to take responsibility for their own lives instead of relying on the politicians to decide.
Rich people do not take anything from the poor. They may take out a loan to build a business, but that loan must be paid back with interest. If the rich are stealing from the government and the government continues to allow it to happen, then the people are still at fault because they keep voting in the same corrupt politicians over and over again.
I do not care if someone legally earns 20 trillion dollars or pounds per second. People should be allowed to earn as much as possible as long as it is by legal means. No government should dictate how much a rich person keeps nor spends. Rich people created the businesses that drive the economy and feed millions within society. Without a rich person who began the company for whom you work, you would not have a job.
Stop castigating people for being rich and demand that the government lower taxes and cut the corrupt social programs which waste billions. Remember government is never your friend. Far too many people in the UK believe that governments are saviors when the reality is quite the opposite.
No one owes you and me anything. Each person is responsible for themselves. The sooner people realize that the better off the world will be.
The UK has issues just like everywhere else. Here in the US, inflation also has been horrible and its said we have the highest food insecurity that weve had in decades. (Meaning more people who struggle to buy food). The american people are constantly at each others throats and our national debt is outrageous. I am not an expert on the UK economy, but i suspect this, as another person commented, is "sensationalized". If i were you, i would do research from multiple different sources before forming a definite opinion and then look at ways in which you can better the place you live and encourage others around you to do. Use your awesome platform to make suggestions and encourage productivity. The UK is not doomed. Many people say we in the US are doomed but we're not either. Hard times happen to everyone, and its how pick ourselves up, adapt, and change that counts. Keep your chin up ❤
Students get 9K a year? I wonder what's wrong lol. Imagine if they were working part time? even if you gotta live at home. Yes in the US you take out a loan and are paying it back. With your job.
They pay it back in Britain as well. That 9k a year he's talking about is a loan.
@@donnabert but he said it’s owed back after school? And he said people don’t pay it back always. And same in the US. Like with any loan.
@@kraven4444 I have no idea what you are talking about. Of course people pay their loans back. If they didn't no one would loan money.
@@donnabert are you psychotic? A Lot of people don’t pay it back they default on car loans mortgages and get kicked out. Same with student loans. Where do you live Lala land where everyone is perfect and does as they’re told?
I was skeptical of Boris and know his groups lies. I knew it was going to end this way. Was bummed when Brexit won.
I worked as a student. A bunch of my roommates all got a job at the same place. My parents paid for tuition and housing so I used that money for booze, a little bit of fun, and cigs
Happy?
I’m hoping the new leaders will restore the public’s trust in government. Your country has so much to offer. I wish the 🇺🇸 had your short election time.
The destructive Green Push has been deadly for the UK, Germany, etc. The deliberate importation of 3rd world immigrants has been very bad as well
Actually two things: saying "third world" is considered bad now, stop doing it. Two, it was Brexit and the deportation of immigrants that caused the problem and if you had watched the video you'd know that and not look so clueless.
@@donnabert And who appointed you as the language police, deciding what other people are and are not allowed to say? It is extreme arrogance to think YOU get to decide!
@@RogCBrand I'm just the messenger. I didn't decide it. If you want to stay ignorant then don't read my posts because I have the feeling I know a lot more things that you don't.
@@donnabert The Chinese Communist Party is proud of you.
It doesnt help that you guys gave up your seat at the EU bargaining table with Brexit. That was just a bonehead move all around. The leavers expected what, that they'd get to leave AND keep their good trade deals or somehow negotiate better ones with less say? Foolish.
Hey my wifi does the same thing as yours... must be Elon Musk throwing bits of his research prototypes up near our satellites, maybe? LoL!!
The UK’s mistake was pretending to be America, especially with QE1 & QE2.
This video seems to tip-toe around the root cause of this, mass importation of unskilled people. Everything else mentioned is just the effect of a nation not being able to adjust fast enough from those hardships due to the extra burden of people who don't and won't be able to effectively contribute for decades to come. The video would rather blame everything else but the root cause.
So Karma 😂
"it wasn't supposed to happen" tell that to the boomers who voted for Brexit. Then ask them how it has benefitted them. Then tell them it has damaged every part of the country from the economy to even immigration, it was even supposed to be an immigration referendum according to the Brexiteers! Now we have closed the door for our Europeans and are letting in more people from regions like MENA which is the "bad type of immigration" (according to them, not my words).
Republicans are going to blame Biden and Democrats for this too 😂😂😂 And just to think the Torries were in charge 😮
It started with Covid
I love how Thurston is blackpilling himself by accident just because of being exposed to the facts.
His name is thurston? wtf is lav luka based off?😂
A rapper named Luka Lavish. Who's on TH-cam. It seems like Thurston wasn't creative with his username.
When he started his channel, it was Lavish Luka. Then just shorten to the username we see today of "Lav Luka"
@@tysonreuter5788 I was going to say "what the hell is blackpilling."
So much happiness and joy $47k weekly returns has been life changing. AWESOME GOD I now have a house and can now afford anything for my family even with my Retirement..
wow this awesome 👏 I'm 37 and have been looking for ways to be successful, please how??
Susan
Jane
Christy
I remember giving her my first savings $20000 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me.
Wow...I know her too she is a licensed broker and a FINRA agent she is popular in
US and Canada she is really amazing woman with good skills and experience.
FLORIDA's economy woul rank 16th in the world
Yes, and California rates #5
They should succeed from the nation. No one will mind.
@@denniss5505technically sixth
@@denniss5505because India is 4T now
Hey Brexiteers-- How you like me now?
The UK was going to shit anyways😂 wtf would staying in the EU have done to save their ass?
@@tysonreuter5788 Did you watch the video? It told specifically how. Don't just jump around replying with nonsense.
Why the hell would you want to become part of the EU. It's a joke of a union.
@@l.t.1305 Why would South Carolina want to be part of the USA? They can make it on their own, -RIGHT-?
The UK has plenty to offer to strengthen the EU. Now everyone suffers for the loss. América suffers the 'stupid' because they don't understand the difference. Obviously...🤣🤣
@@donnabert you really think a theoretical 25% increase in foreign investment in London would’ve saved the country’s ass? Yeah I listened to the video and only complete rubes like you would believe that explains everything.
The author is pushing a keynesian economic view, oddly mixed with awareness of government debt. It's strange to see anyone mixing the 2.
Remove the word economy from the title and it’s more accurate 💀
Correct!
"Import third-world people: import third-world problems."
Who's gonna do all the work? Grandma? There aren't enough people of working age.
And with this most recent Prime Minister it's going to become even worse.
How it happened is you voted for Brexit.
Sorry to be blunt, but that's the truth.
Then it is their social net programs and the tremendous amount of money pumped in by QE programs, money pumped in during Covid, both which expanded the economy but with the majority of citizens part of a welfare state (not talking about free health) you have little innovation or growth that can absorb the cash infusions
Also they are anti immigration legal or illegal. I am against illegal btw.
@@Travisml3 It began with Brexit.
You stop the video too much. Why not watch for more than 2 seconds before reacting?
*labour*
Maybe dont elect socialists if you want a good economy lol
Labour was not responsible for Brexit, and they just formed a government this past summer. These trends are greatly attributed to the policies and rhetoric of the right.
Import third world become third world
I thought we weren't allowed to say "third world" anymore.
@@donnabert you can say what you want fuck anyone's feelings who feels otherwise unless you live in the uk then you might get arrested lol
@@ericcartmansfatroll1635 These fascists seem to think they get to decide what other people may say or think!
Blaming the problems of capitalism on a few thousand poor people with no power instead of the billionaires who own everything, make every political decision and control every lever of power is so colossally dumb that you should be embarrassed to type those words.
UK leaving the EU could still be a good thing, but UK hasn't picked the right person to lead. Uk should push companies to be more innovative instead of regulating companies especially startup companies. EU = 99% regulation, 1% innovation of regulations. Europe is becoming irrelevant due to lack of innovation and a aging population. Europe is falling way behind in AI technology, electric vehicle technology.
I'm surprised that you are surprised. The UK has been described as having a third-world economy with a world-class London for the last ten to fifteen years. With the loss of most of its colonial holdings, its lack of natural resources, and its losses during WWII: the UK is just a shadow of itself prewar. Its Brexit made things even worse. Thank goodness for your Commonwealth and your "Special Relationship" with the USA. As a person from the USA, may I say, I love you guys and thank you for your many contributions to civilization.
If it makes you feel any better, Canada and the U.S. are becoming 3rd world countries too
The American economy is the strongest on the planet. The American inflation continues to drop and the proof is in the recent drop in FED interest rates.
The US is a country of immigrants. The UK is 78% British white people, and 83% white overall. A little bit of immigration from certain places really stands out in the tiny country and easily breeds resentment as you're seeing. The US and UK are very different places despite everyone thinking they are similar just because the majority speak English, so it's always silly to see the US treated as a natural comparison for the UK when you might as well be comparing apples to cars.
@@stevenwilgus5422 The US economy is fueled by debt and defense (war) spending. It's only possible to maintain a $35 tn national debt and massive defense spending because the USdollar is the world's reserve currency. When one understands this, it becomes clear why the US military is constantly threatening nations that may challenge dollar supremacy.
Canada yes, but the US no
Americans dont realize how wealthy their country is and just how much better off even like unskilled grocery store workers are in the US compared to mid level professionals in canada and the UK
@@jdanon203 Despite lingering -RIGHT- wing lunacy, the strength of America resides in our diversity. E Pluribus Unum.
Hi Thurs, I have watched this video twice and I find it very disturbing, however you can do the same video for the US and it will look bad as it did for the UK. Move to the US and see if our problems are not as bad as yours. Have you seen our Presidential Candidates? Talk about scary.
The US suffers from similar underlying problems, but not nearly to that extent.
The US has a lot of natural resources, and didn't de-industrialize to the same extent as UK. Also, the US didn't Brexit to cut off their nose to spite their face.
My country is also suffering, that's why I'm voting for President Trump. He will stop the war in Ukraine and save my country from disappearing into the abyss.
😂
Bwahahahahahahahaha !! Oh, Dear, thanks for the laugh.
OK boomer.
Well, "Bless your heart."
@@josephtadlock1615 Being from the south myself this was the absolute perfect response lol 😂
The next time you think I am lengthy look at wittyhumpleton