Posted on 08/09/2022 4:28:04 AM PDT by semimojo
The Bank of England warned last week that the U.K. economy will enter its longest recession since the Great Financial Crisis in the fourth quarter, leading GDP 2.1% lower.
In a research note Monday, Saxo Bank Head of Macro Analysis Christopher Dembik said the U.K. is “more and more looking like an emerging market country.”
The only factor missing from a characterization as an EM country, Dembik said, is a currency crisis, with the British pound holding firm...
The Bank of England warned last week that the U.K. economy will enter its longest recession since the Great Financial Crisis in the fourth quarter, leading GDP 2.1% lower. Meanwhile, inflation is projected to peak above 13% in October.
Importantly, the central bank is not anticipating a sharp rebound from the recession, and sees GDP remaining 1.75% below today’s levels in mid-2025.
(Excerpt) Read more at cnbc.com ...
That’s PC-speak for “3rd World Country.”
And it was a murder/suicide inflicted by British open border socialist traitors.
When England embraced Karl Marx’s favorite economist, David Ricardo, the concept of Free Trade with it’s theory of Comparative Advantage took hold and eventually crushed their Empire.
Some “facts” about the United Kingdom:
1. Britain was once ranked # 1 militarily. Now they are # 8.
2. # 1 above is due to the fact that Britain is hopelessly infected with Liberalism in it’s general population which is reflected in it’s Parliament.
Some “facts” about the United Kingdom:
1. Britain was once ranked # 1 militarily. Now they are # 8.
2. # 1 above is due to the fact that Britain is hopelessly infected with Liberalism in it’s general population which is reflected in it’s Parliament.
China is in the process of failing, literally falling apart, economically.
The process is so far along that there is no saving the economy of China
Events elsewhere are trivial compared to that massive reality.
True of Europe in total
You offer a ray of hope. China is evil and it is ugly. It should die.
I don’t believe that China will fail in time, though.
——I don’t believe that China will fail in time——
Why do you hold that opinion?
Thank you. It is only an opinion. I have not been to China in years.
But, to answer, its economy is enormous and there is such a thing as inertia, even in economics. It is not trivial to physically destroy wealth.
I believe China to be behind much of the evil that is happening in the world, today. The plans would not be so bold if the need were not so desperate for China’s tyrannical government. You prophesy their collapse, but I think they know their own situation, as well, and have accelerated their efforts in an effort to save themselves (at least in their view).
I would be amazed were China to collapse without first taking down Western civilization.
FYI
The engine driving the economy has failed. The real-estate industry is just plain destroyed, gone
People bought apartments in unbuilt buildings with borrowed money. Those buildings will never be completed. The people by the tens of thousands have ceased paying on their mortgages. The banks are now failing or on the verge of failing. The money is spent bythe developers.
As a separate issue, people go to banks to withdraw their deposits and there is no cash. Withdrawals have been stopped by the banks. The people have no money to buy food or anything.
Many of the major cities have been totally locked down by covid. For Shanghai, for several months. The loss of all economic activity is devistating to the local economies.
The young people have revolted and just given up. Their action is Lying Flat, refusing to participate or Let It Rot, refusing to be a part of something that is economically harmful.
Foreign business and industry have left resulting in massive unemployment. The jobs can’t be replaced.
The current inertia is destructive. The wealth of the people is gone. Their savings were invested in real-estate that is now worthless
And....... all that is just for starters
Then, it is a race to the bottom. I have seen the events you bring up.
There are equal or worse happenings, now, throughout the rest of the world. I don’t think that it’s a coincidence.
China is advancing a desperate gambit to overturn the world order before its own collapse. I don’t doubt it. But, China is calling the shots, not the West.
Import Third World
Become Third World
The #1 problem with Brexit is it was only halfway done. I mean, have they really separated from the EU?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.