How the UK is becoming a ‘third-world’ economy
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#Britain has slumbered and stumbled its way through a number of setbacks. Now, the #crisis has become endemic with no quick fix in sight.
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30 Comments
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"Britain's support to Ukraine essentially broke its economy" – What the hell are you talking about..? The GLOBAL increase in gas prices combined with the over reliance on still burning gas because of NIMBYs against wind, solar and nuclear is what "broke its economy" when the global gas prices went up.
I thought importing tons of third worlders was suppose to have the opposite effect and "boost the economy" 🤯 it didnt???!!!
British government is a bunch of incompetent morons!
If Britain not good, why don’t you immigrate to India?
Since1730 – 100% of its wealth , obtained by stealing and thug behaviours
it is not "the Ukraine war", at least it is war in Ukraine or as it named properly by international organisations war of russian federation against Ukraine.
Please stop using the 3rd world country slur, it has no contemporary meaning other than to separate "rich" nations from poor nations, white countries from non whites. It's purely based on a superiority complex.
u r describing the crisis but unfortunately bypassed the most important element leading to the current situation: austerity! notably cuts in the social system and less investment in people and infrastructure. the same is true for the eu, but to a much lesser extend. – the debt is not a broblem, the public is limiting its spending politically, there's no real constraint in how much the UK gov can spend (except for inflation ofc.). especially because the uk has its own central bank
6:40 My only objection to the "Farmland to factories" approach is that well, despite the name, you can't eat microchips. Food is something everyone needs and producing domestically should be made cheaper than production abroad, if not through messy tariffs, than by expanding our efficiency and production base in the UK. That means people have to spend less on food, which frees up their funds to buy other, more high-end items, which can in turn be taxed at a higher rate. Meanwhile, if no-one can afford things like food and rent, then they're not even going to touch high-end stuff and we lose out on overall revenue.
I'll agree that it was the uncertainty of Brexit that caused problems however, rather than the referendum itself. That uncertainty was mainly caused by the truly shambolic response from the political class, clearly none of whom actually wanted Brexit to happen and moved to sabotage it at every turn.
Falling societies always look for someone to blame for their failure. The UK was already going down before the immigrants arrived to do jobs the natives won't do and then the immigrants became the scapegoat.
A squeeze needed to happen , generally the masses of Britain were becoming to wealthy , a country can’t function if the majority ( or even half ) of it occupants are to comfortable , the masses need to work hard & have little to no monies spare & preferably be in debt
Standard of living is still better than it’s ever been
I dont think calling it a "third world economy" is fair to developing economies, who achieve better rates of growth than UK does.
Argentina is willing to trade the malvinas for some money so you guys can lift that PIB a little bit, so you can skip becoming part of the group "we keep trying and the economy goes south every time" 🤣
How random shit PPL make on youtube. Anyone can become third world or second aorldyir first world simply like that. It has to be either you supported USA in cold war to be first world or support ussr to become second world or part of NAM to be third world. Randomly a country cannot become third World. It has to support NAM to become third world
Import thirld world and you become thirld world.
Covid and Ukraine war affected pretty much all the nations. What ruined UK is the massive chunk of British population who's been on welfare benefits as a lifestyle choice.
UK deindustrialised in the 1980s. Financial services in London "took over".
Germany now doing e same after loss of NS1/2.
CR seems to be underplaying massive QE since 2008, unaffordable funding for escalation of war in the East and loss of UK Gold reserves. C19 cost UK taxpayer over 1/2 trillion GBP in ineffective and often harmful novel measures.
Look up "Princes of the Yen" by Richard Werner.
It is not true that the huge influx of Migrants have been an economic benefit to the UK. It has been proven that 95% create a net lose to our economy, one of the major reasons it is failing
On the subject of low workforce participation, countries like the UK have made a huge mistake by trying to pressure every 20 year old to attend university.
There are many jobs that now require a four year degree where it is simply not needed. Society has made a bachelor's degree into the new high school diploma and it is coming at a HUGE cost to everyone.
Nevermind, the Corporate State profits are sky rocketing for the 1% of the 1% and the neo colonial empire is aiming at global governance by 2030 if they can persuade BRICS to follow the "IRBO" hegemony.
Wait till the US buys out everything and the NHS becomes privatised healthcare
We're a financial centre , that's it people bank here to launder there money , it's the city of London which is it's own city state like the Vatican in Italy that has the wealth
#BREXIT
You should also look into Germany as well as it is said to be looking very bad over there, especially since the start of the Ukraine war.
The first country ever to impose economic sanctions on themselves
I haven't spent any time traveling around Mississippi or in the UK outside of London, but this comparison seems overly simplistic. I'd be curious to see how many citizens of the UK would rather have the economic prospects, standard of living and lifestyle in Mississippi and vice versa. I suspect that both parties would choose to stay right where they were at.
The deep state Jews will pillage us all
Don’t worry UK is importing 3rd World humans. That should fix it
Lol they import 3rd world and they are slowly turning to 3rd world