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It seems that this government’s recipe for recovery has been to try and re-create the boom conditions that led to the last recession.
Now there’s a house price bubble in London, which people are predicting will burst, and stock markets around the world have gone into decline. If we go back into recession / depression again from an already weak position, will there be ANY recipe for recovery?
You called that one, man. Happened in the U.S., too. They’ve spent the last 2.5 years lying and hiding that it’s a Depression here, with the numbers being higher in unemployment then ever before (they take people off the rolls that are under-employed, or who haven’t found a job in so many years that they quite looking).
And the answer in the States is always.. bring another elite into power as if they will somehow help.
Do you find that is the case in the UK, too?We have had Chancellor of the Exchequer for the last 6 years who’s only qualification was a 2:1 in ‘Modern History’ (When your degree title is an oxymoron, that’s a good sign). His replacement doesn’t seem to be that much of an improvement either, but at least he actually has a qualification in ecconomics.
No point putting much effort into the economy right now since it will be for naught when the UK leaves the single market.
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ChatHostUK: You think that will be soon? You think that your people can handle waiting the couple years it may take to get out of the market? I mean, isn’t it bad there, like everywhere else?
Trump is going to make a huge difference to us.
He and his treasury man (by the strange name of Mnuchi – pronounced Minuchi) are planning a $1 trillion boost to the economy through tax cuts for the wealthy and infrastructure spending, among other things.
This is likely to give the US economy a serious boom, wiht inflation and a rise in interest rates. No idea what will happen in the medium term if that boom fails.
With Brexit and a Trump boom, I have no idea what will happen in the U|K. They are already preparing for a rise in interest rates, which is good news for savers and horrible news for people on a mortgage, some of whom may lose their homes.
Rising interest rates, rising prices, and less money in your pocket (the pound has lost a fifth!! of it value of last June, and is likely to go down a lot more when we actually brexit) is not good..
So – I say – get ready for a lot of ups and downs.
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