The Uk economy

It's ok PoliticsNerd.
I dont really feel anxious.

But I aam aware that I can think the worst sometimes, including the economy, and then things dont pan out as bad as previously thought, for a lot of people.

PoliticsNerd

^It doesn't need a shoehorn to state the bl**ding obvious. Brexit has seriously damaged the UK economy^. (MaizieD)

No, it just needs someone to politely share their point of view.

Sorry you missed my politely expressed point of view earlier in this thread.

It doesn't need a shoehorn to state the bl**ding obvious. Brexit has seriously damaged the UK economy. (MaizieD)

No, it just needs someone to politely share their point of view.

Remember we have had economic downturns in balanced economies that rebounded in the past without severe consequences to the public.

Still curious to read your definition of a 'balanced economy'.

Germany is suffering from much the same problem as us, though, in that its neoliberal economic ideology only works when it is able to maintain a trade surplus because it is scared witless at the thought of running a deficit.

fancythat

^A balanced economy might rock a little from time to time (like the fulcrum of a seesaw) but it is not going to throw up and crash the public.^

Can you be sure of that?

Hence why I started the thread really.
I can go overboard with thinking the economy is properly crashing.

I'm sorry you are feeling so anxious fancythat. That's not a nice place to be.

I don't think anyone could, or should try to reassure you that world economies won't crash. However, all countries except those led by disruptors, are working to keep a balance.

Change is not a bad thing although some people will have difficulties adapting. Disruption (extremism) will hurt many and help few. Remember we have had economic downturns in balanced economies that rebounded in the past without severe consequences to the public.

When I look at at the current disruptors, let's take Putin and Trump as examples, they are very similar in their aims as rulers. Democracy is often the little kid who has to use their wits and their courage to sustain a better quality of life for individuals and society as a whole. If you need to hang on to something I would hand on to the fact that heroes seem to be there when we need them although not always recognisable at the time .

It doesn't need a shoehorn to state the bl**ding obvious. Brexit has seriously damaged the UK economy.

More austerity will damage it even further. We're already suffering from 14 years of tory austerity.

I'd like to know how PN would define, or even describe, a 'balanced economy' as there is an accounting definition of 'balance' and a popular myth definition.

I would say that there are two 'economies' running side by side in the UK. There is the 'economy' of the wealthy, whose wellbeing is unaffected by the deterioration of public services because they can pay for whatever they want and the 'economy' of the rest of the population who are increasingly having to cut back in order to survive.

The only time these two economies meet is in the area where the wealthy are taking more and more of the money from the rest of the population through any businesses they might have.

Germany has a bigger problem than us. A country that was once the power house of Europe.

www.goldmansachs.com/insights/articles/weighing-the-prospects-for-a-turnaround-for-germanys-economy#

FriedGreenTomatoes2

keepingquiet

We have to face up to the disaster of brexit. Lots of brexiteers said they didn't mind the economy going downhill as long as we had sovereignty back. So, suck it up folks.

Oh keepingquiet - Isn’t your arm aching wielding that massive shoehorn?

Shoehorns aside, it is a fact that trade has dropped since leaving the EU, trade we now need very badly with the possible machinations of Trump ahead.

I think we should all vote for you as Chancellor of the Exchequer MaizieD. You seem more competent than the cohort we have presently in Downing Street making decisions.

As an aside, I read recently that Rachel Reeves’ husband was on Liz Truss’ economic team. 😮

keepingquiet

We have to face up to the disaster of brexit. Lots of brexiteers said they didn't mind the economy going downhill as long as we had sovereignty back. So, suck it up folks.

Oh keepingquiet - Isn’t your arm aching wielding that massive shoehorn?

keepingquiet

We have to face up to the disaster of brexit. Lots of brexiteers said they didn't mind the economy going downhill as long as we had sovereignty back. So, suck it up folks.

We certainly have to work at making them an easier market to export into and import from.

I would suggest we need to work with Canada too. For their sake and ours.

A balanced economy might rock a little from time to time (like the fulcrum of a seesaw) but it is not going to throw up and crash the public.

Can you be sure of that?

Hence why I started the thread really.
I can go overboard with thinking the economy is properly crashing.

Far/hard left principles will do this country no more good than the far/hard right ones from which effects we are still currently trying to recover. A balanced economy might rock a little from time to time (like the fulcrum of a seesaw) but it is not going to throw up and crash the public.

For this reason alone I would want the government to stick with Rachel Reeves.

Yes, there is a problem with rising gilt yields, but these are the result of a complex mix of factors. While the UK government’s fiscal policies and debt management play a role, other factors like inflation expectations, global economic trends, central bank actions and someone like Trump coming to power in America, can also carry heavy influence.

When a more centrist government is being attacked from both sides, that simply suggests that they are doing the right thing. Impatience with getting us back on track after the last 14 years (that mistyped as 24 - it knows how some of us feel!) Amazes me. If it's taken 14 years to wreck an economy, why do people expect thing to be easy to solve and solved overnight?

Oreo

What do you think of RR’s budget MaizieD and all her economic decisions?All leading to the B of E stepping in?

OK. Lets look at this another way.

What has the BoE done by way of 'stepping in' and how is it going to improve the economy?

Keepingquiet
Are you saying brexit had no impact, either positively or negatively?

In which case, we should have stayed in?

Which brings us back to the impact of people not bothering to vote.

Sarnia

I may be wrong but Trump and Musk have it in for Labour because of remarks made by Starmer, Lammy & Co. Rightly or wrongly with their comments, they really need to engage their brains before speaking at times.
Clever people would know that if you attack a country’s leader or potential leader, those under attack would be quite likely to retaliate, and others jump on the bandwagon.

Sarnia

Wyllow3

His feud? Like, what did Starmer do to create it?

I may be wrong but Trump and Musk have it in for Labour because of remarks made by Starmer, Lammy & Co. Rightly or wrongly with their comments, they really need to engage their brains before speaking at times. There is also the little matter of Labour supporters going to the US and trying to woo voters towards Harris which Trump will not forget.

They have always taken part in American elections, there’s nothing new about it. If Trump really bears grudges why did he pick a running mate who once described him as a Nazi. By the way, where is Vance these days; has anyone seen or heard anything of him?

What do you think of RR’s budget MaizieD and all her economic decisions?All leading to the B of E stepping in?

Sago

MaizieD

What does your son think is 'not good', Sago?

The confidence in the UK economy for business and consumer is low.

I said as soon as the budget came out that people will be reluctant to hire people.

I do think any Labour Party always seem to care more about the Public sector and less about the private one.

I assume it is the private sector that has cut back on hiring?

TerriBull

Reeves is off to China to presumably negotiate us taking even more of their rubbish goods in exchange for them taking a fraction of ours, which they can then copy before selling them back to us Meanwhile back here, its all going swimmingly, pounds falling in value against the dollar and the euro, businesses are cutting back on hiring and will have to hike their prices, once prices rise there will be demands for pay rises to keep pace, inflation will be up, there's still a dire shortage of housing, that most people can't afford, gas supplies are concerningly low. Other than that it's all good and we can sleep safely now the adults are in the room and determined to grow the economy.

I doubt Reeves wants to export goods to China, more likely financial services (a lot of bankers are with her) which are more profitable and hence generate more tax.

Oreo

You simply now have to start looking at things in the round, the latest being an awful budget to get the full picture.

OK. If we’re ‘looking in the round’, what do you think of the current actions of the Bank of England ?

You simply now have to start looking at things in the round, the latest being an awful budget to get the full picture.

Wyllow3

His feud? Like, what did Starmer do to create it?

I may be wrong but Trump and Musk have it in for Labour because of remarks made by Starmer, Lammy & Co. Rightly or wrongly with their comments, they really need to engage their brains before speaking at times. There is also the little matter of Labour supporters going to the US and trying to woo voters towards Harris which Trump will not forget.

MayBee70

So Cambridge econometrics don’t know what they’re talking about? And what happened to all the amazing trade deals we were going to have straight away? The farmers have been shafted by trade deals we’ve done with NZ and Australia I believe (?).

Economic analysts can be wrong! Predicting ten or sixteen or whatever it was years in advance isn’t an exact science.Stuff happens!

Of course we should never have left the EU. It was one of the most ridiculous decision ever made.

I am hoping that Starmer is quietly working behind the scenes to begin the process of returning.

It is the only thing making any sense at the moment, particularly with the dual threat of Trump and Putin let alone Xi.