Posted on 05/18/2013 2:18:49 PM PDT by blam
The UK Has Just Had One Lost Decade, And It's About To Enter A Second
Philip Aldrick, The Daily Telegraph
May 18, 2013, 3:42 PM
HSBCs chief global economist has written a compelling but dark account of the challenges facing the West. Philip Aldrick considers the chilling claims.
Bleak does not begin to describe the latest tome on the economic crisis by Stephen King, the HSBC chief global economist who appropriately shares a name with the best-selling horror writer.
When the Money Runs Out is the economic equivalent of post-apocalyptic fiction, charting the end of Western affluence, and gives the author of The Shining a run for his money when it comes to filling readers with dread.
Published this week, the chapter headings alone are enough to make you tremble; The Pain of Stagnation, From Economic Disappointment to Political Instability, Dystopia.
If anyone in Britain was labouring under the misapprehension that 0.3pc GDP growth in the first quarter of the year and signs of a manufacturing revival were something to cheer and that includes the other King, Bank of England Governor Sir Mervyn HSBCs King puts them right.
When The Money Runs Out
The Telegraph
Those arent green shoots, they are bumps along bottom. The country has just completed one lost decade, measured on growth per person, he says, and is about to enter a second.
King is what his friends describe as a happy pessimist. Its easy to see why. The piano-playing 49-year-olds demeanour is as perky as his electric-shock hair. But his message is resolutely sackcloth and ashes. His prescription for the UK, like much of the West, is painful reform, and lots of it.
Like all determined pessimists, though, King rejects the label. I would call myself a realist who doesnt peddle quick-fix solutions
(snip)
(Excerpt) Read more at businessinsider.com ...
Starts with the repeal of the Corn Laws and ends with the ascendancy of the Labor Party.
Just one long slide into chaos.
Dystopia
Englanistan
Convert or Die
Caliphate Ho!
Now on towards defeating the USA
That’s the future of England if no changes are made.
The American slide toward ruin began with the ascendancy of our own “Labor” party in the 1930s. Of course, groundwork was also laid by the philosopher-scholar of big government, President Woodrow Wilson.
While politically correct “Conservative” Party leaders campaign on the destruction of traditional marriage and civilization, the future generation of leaders totter about drunkenly in the streets and the pitiable British Army sinks below 100,000 troops.
And when the Republicans controlled the Presidency and at least one branch of Congress the slide was only slowed down.
Reagan eliminated some programs and actually believed in limited government. Most Republicans, aka Rhinos don’t.
England is 200 years of history unhampered by progress.
It’s sad, really.
I mean consider their navy. They have no carriers to launch any aircraft from. But they’re spending billions on welfare housing and food and all this other stuff on people content just to sit there and collect.
I was in England in the early 90s for a summer. Before it started to really steamroll downhill. It was still considered an awesome assignment. And it was. I feel bad for the people I met that have had to see their country go the way it has.
No carriers. Pretty sad for the navy that used to “rule the waves.”
RINOs — Meghan McCain, to name an egregious example — believe in the Democratic agenda but refuse to admit it so long as to maintain their moral authority over those rightwing conservative nuts.
The Brits and the Europeans, despite their faults, still report GDP quarterly growth accurately. In the U.S., that same 0.3pc GDP growth would be reported as +1.2%. We multiply by four to "annualize" the number.
but then they became meek and became england.
Now they are appeasers of goathumpers and queers and have become undone,
they are now UNgland...
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