Tuesday, July 31, 2012
Some people did notice
The Incredible Shrinking UK Economy
I think probably people are noticing. UK GDP has fallen 13.5% since 2007, but this GDP never existed more like a discovery of the catastrophy of the New Labour administration. What I find incredible is that the crass stupidity of the British and the rank cynicism of the New Labour political movement purports to offer a choice of austerity or not ! The UK is becoming poorer and poorer and we are doing nothing, that is the plain truth of it.
Posted by stillthinking @ 07:46 AM (987 views)
4 thoughts on “Some people did notice”
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stillthinking says:
I don’t think people fully understand how bad things are going to get for the UK because the noose tightens so slowly. I am also minded of the feeler put out that increased immigration would help, which it probably would in an ideal world, except we have seen that immigration does not help. I think that Australia will draw the same conclusion. I don’t know whether there is an outrageous glut of housing in Australia or not, but they can offer serious incentives to relocate. In the 1970s there was brain drain from the UK, or Atlas Shrugged, however you want to view it, and I think those days are going to be rolling around again. The jigs up, more and more people are aware that the UK has savagely destroyed its own living standards to such an extent that decades and real political will to push through unpopular reforms will be required if this is even electorally possible.
cynicalsoothsayer says:
As our economy is heavily involved in world finance, we’re going to see first which way things are heading. Other countries aren’t going to be immune to a global downturn, it will just hit them a bit later.
general congreve says:
Yep, and a declining economy means a declining currency.
Amos says:
He’s measured the figures in usd and ignored the fact that the £ has appreciated in value by 23% since 2007.
Utter nonsense without considering what the currency fluctuations signify.
Uk treasury figures are flat over this period.