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Post by ECE Prof on Nov 17, 2022 18:22:14 GMT
- The U.K. government on Thursday unveiled a sweeping fiscal plan aimed at plugging a gaping hole the public finances and restoring Britain’s economic credibility.
- Finance Minister Jeremy Hunt, in his hotly anticipated inaugural Autumn Statement, outlined spending cuts and tax hikes worth £55 billion.
- The measures will increase financial hardship on millions of Britons as they confront the country’s worst cost-of-living crisis in decades and its longest-ever recession.
The reason that US is next: We are importing all those price hikes, and we do not live in isolation. On the top, we cannot keep on spending the money we do not have, and with hike in the interest rates, the situation will become worse.
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Post by Chahta on Nov 17, 2022 21:53:57 GMT
- The U.K. government on Thursday unveiled a sweeping fiscal plan aimed at plugging a gaping hole the public finances and restoring Britain’s economic credibility.
- Finance Minister Jeremy Hunt, in his hotly anticipated inaugural Autumn Statement, outlined spending cuts and tax hikes worth £55 billion.
- The measures will increase financial hardship on millions of Britons as they confront the country’s worst cost-of-living crisis in decades and its longest-ever recession.
The reason that US is next: We are importing all those price hikes, and we do not live in isolation. On the top, we cannot keep on spending the money we do not have, and with hike in the interest rates, the situation will become worse.
They are raising taxes in a recession. LOL |
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Post by ECE Prof on Nov 17, 2022 22:28:33 GMT
- The U.K. government on Thursday unveiled a sweeping fiscal plan aimed at plugging a gaping hole the public finances and restoring Britain’s economic credibility.
- Finance Minister Jeremy Hunt, in his hotly anticipated inaugural Autumn Statement, outlined spending cuts and tax hikes worth £55 billion.
- The measures will increase financial hardship on millions of Britons as they confront the country’s worst cost-of-living crisis in decades and its longest-ever recession.
The reason that US is next: We are importing all those price hikes, and we do not live in isolation. On the top, we cannot keep on spending the money we do not have, and with hike in the interest rates, the situation will become worse.
They are raising taxes in a recession. LOL Unfortunately, the Brits are forced to do because they lost the looting power of Asia and Africa. Two days ago, African nations are demanding “fair trade” not “free trade.” However, what they did all these decades, even after losing the empire, they gave “business visas” to wealthy Indians and educated Indians to get money people to come there. A lot of those guys, who looted the Indians, got their wealth moved over there. In fact, there was furor about Sunak's wife not paying her taxes neither in India nor in Britain last year when Sunak was the Exchequer of the queen in the BJ's cabinet. She back-paid her taxes to Britain. So, now, Indians started arresting those people on the way to the airport, and some of them are in the Indian jails now. That is one of the friction points while they are negotiating a free trade agreement with India, started by BJ, but not yet completed. They are all intertwined now. |
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Post by uncleharley on Nov 17, 2022 22:41:06 GMT
Is that why the buck went up in value today??
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Post by ECE Prof on Nov 19, 2022 2:50:15 GMT
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Post by FD1000 on Nov 19, 2022 4:19:29 GMT
Not to worry. UK sold all their assets and invested it all in CEFs, after all, 13% income regardless of losing principal, is the answer.
Lol
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Post by Norbert on Nov 19, 2022 6:42:31 GMT
Good article in The Spectator. Snippets: "The policy shift from Kwasi Kwarteng to Jeremy Hunt is more extreme than any shift from Conservative to Labour could ever be. They stand for the outer ends of the fiscal policy spectrum. Both are wrong. What you want to do with fiscal policy is to orient it long-term, address problems with productivity growth and debt sustainability through structural reforms, and provide counter-cyclical support during a recession." "The right policy response to the situation the UK and other industrial nations are facing right now is to address stagflation with a mix of three policies: moderate loose fiscal policies, tighter monetary policies, and structural reforms." "The US is a more resilient economy, and will come out of this mess in better shape than anybody else." www.spectator.co.uk/article/the-uk-is-getting-caught-in-the-austerity-trap/The elephant in the UK's living room is the National Health Service. Not even Margaret Thatcher dared touch it. The NHS is true socialized medicine, not just national health insurance. It's wildly expensive and inefficient. It's a budget killer. N. |
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Post by Chahta on Nov 22, 2022 13:10:27 GMT
Good article in The Spectator. Snippets: "The policy shift from Kwasi Kwarteng to Jeremy Hunt is more extreme than any shift from Conservative to Labour could ever be. They stand for the outer ends of the fiscal policy spectrum. Both are wrong. What you want to do with fiscal policy is to orient it long-term, address problems with productivity growth and debt sustainability through structural reforms, and provide counter-cyclical support during a recession." "The right policy response to the situation the UK and other industrial nations are facing right now is to address stagflation with a mix of three policies: moderate loose fiscal policies, tighter monetary policies, and structural reforms." "The US is a more resilient economy, and will come out of this mess in better shape than anybody else." www.spectator.co.uk/article/the-uk-is-getting-caught-in-the-austerity-trap/The elephant in the UK's living room is the National Health Service. Not even Margaret Thatcher dared touch it. The NHS is true socialized medicine, not just national health insurance. It's wildly expensive and inefficient. It's a budget killer. N. Any chance you could email this article the Congress. But I’m not sure they could comprehend it. |
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Post by johntaylor on Nov 25, 2022 15:26:49 GMT
The old Fabians (Shaw, the Webbs, Wallas) saw health care as an opening wedge to socialism
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