Posted on 03/21/2020 2:59:23 AM PDT by Oldeconomybuyer
Capitalism has been suspended in the UK.
That is the ultimate consequence of the extraordinary moves announced by Chancellor Rishi Sunak on Friday evening.
Never before has the government of this country stepped in to pay a major chunk of workers' wages in companies across the nation.
It is a move of such consequence that the numbers involved - 80% of the salaries of affected workers, caps of £2,500 per worker, potentially £4bn of money flowing out of the Exchequer every quarter - are dwarfed by the symbolism.
A Conservative government is effectively nationalising parts of the private sector, paying most of the wages of workers instead of their employers.
It is a move which even the hardest-left of administrations would have steered clear of for terrifying investors and the markets.
Yet here is the strange thing: this move might be the only way to convince investors that the UK authorities are serious about preventing the economy from imploding altogether.
For the reality is that Britain is in the middle of an economic heart attack. Right now.
Never before has it faced a crisis of these dimensions - a health crisis that has given rise to a lifestyle crisis that has given rise to the most monumental economic crisis of our lifetimes.
Right now, employers are deciding whether to fire staff or pay taxes or simply shut down their businesses.
What else would you do if you were a restaurant owner who was now forced to close and might not be able to claim insurance?
What would you do if you ran a travel business when borders are suddenly closed around the world for the foreseeable future?
Normal life has been suspended by COVID-19.
And now, so has capitalism as we know it.
(Excerpt) Read more at news.sky.com ...
This will even hit organized crime... a group that is usually exempt from downturns.
no sports for gambling, lockdown will effect houses of prostitution, it’s dangerous to be a loan shark when it’s likely no one can pay you back, ...
But they still have online pornography and pump and dumps among others to make $$
Why are there so many non-English governing Britain?
bookmark
Residue of empire. Lots of former British possessions still confer Commonwealth citizenship, which can be used to go live in the UK.
Only the ones that threw the British out by force are disqualified. The US, Honduras, etc.
The danger is temporary almost always leads to permanent. When you offer assistance in a time of peril that assistance quickly becomes an entitlement and human right! Just ask bernie
I’m quite sure that Brexit was a good thing and I do not see a relationship between the current problems and Brexit.
But I am sure the Left in Britain will say, “This is mostly because of Brexit”. Timing seems unfortunate and muddies the water. I had hoped that Brexit would be followed by a very vibrant British economy and now that isn’t going to happen.
Government paying salaries = communism. Although this will be denied, this is a case of the left seizing the opportunity! They are skilled at using confusion and a breakdown in the civil order to rush in and establish their preferred form of government: communism.
Marx and Stalin and Soros (and Satan) are smiling.
Yeah those Scots, Welsh and Irish are getting dead uppity.
“The danger is temporary almost always leads to permanent”
In this case, the condition you’re talking about is FEAR over a overblown, data-deficient, media-manipulated, and/or government-created crisis.
Wait till the opioid addicts start into withdrawal. Lock and load.
Don’t know the numbers, but when going through passport control at Heathrow Airport most the people directing the flow of people and checking passports are not white English folk.
I knew someone would call me out on that.
Why re there so many non-Brits governing Britain ?
Is that better ?
Yeah. right, NOT.
Just like an anchor baby is an American.
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