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Eddie_George

How Big Is The Uk Banking System?

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In 2013 according to the IMF and the World bank figures most of the above countries with smaller banking systems have a higher GDP per Capita than the UK (the exceptions being Italy, Spain and Poland - but Italy and Spain don't lag far behind in GDP per Capita terms) .


http://

en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29_per_capita

The UK's huge banking system just isn't working for most UK people.

Edited by billybong

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From the "UK banking system may double in size by 2050" link


However, in an article asking “Why is the banking system so big and is that a problem?” the Bank of England said it had not found evidence of a link between the size of the economy and the risk of a crisis.

But if the economy is mainly the banking system then there's plenty of evidence. Just look at the 2007/2008 economic collapse.

They just aren't looking or they're looking everywhere they know they won't find any evidence.


Britain’s exposure to its banks, already the largest in the G20 group of leading nations, is set to double in the next 35 years. “The size of the UK banking system might roughly double from its current size to over 950% of GDP by 2050, far outstripping the projected increase in other G20 banking systems,” the Bank of England said.

So if the rest of the UK economy is 1/20th the size of the banking system for sure it will have been utterly destroyed and anyone in the non-banking system including technology in the UK will be living on benefits and tax credits and even more so than now - if benefits and tax credits remain. More likely there'll be no home grown technology.

If it is going to double again shouldn't they be closing down some UK technology colleges and turning them into banking colleges to cater for the doubling in the size of the banking system. At least then tuition fees might stand a chance of being paid back by some of them.

Maybe the time wasters are correct and they'll be able to kick the can down the road and even miles in the air for another 36 years and at everyone else's expense.

It's no way to run an economy.

Edited by billybong

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Bank of England @bankofengland 3m3 minutes ago

Evidence suggests (iii) larger banking systems may raise the fiscal costs of a crisis http://ow.ly/FwMy1

You dont say.

In reality its not the UK banking system at all.

Its the global centre for banking criminality located in the Citeh of London legislative/tax haven backstopped by the gullible British public enabled by the Houses of Parliament.

(I think I put something about Carney's plan in my sig)

Edited by R K

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another view. We are already at the financial sector comprising 600% of GDP

and from that Morgan Stanley chart Norway, Switzerland, Australia and Canada all have a significantly better GDP per Capita than the UK despite them have far smaller financial sectors. New Zealand's GDP per Capita isn't far behind the UK's despite having a very small financial sector.

If it's already 600% maybe the BoE really thinks it's going to double to 1200% of GDP by 2050.

Edited by billybong

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