Britons are not all in it together (whatever they might think)

The cost-of-living crisis has gripped British politics, with rising inflation, high taxation, and increased interest rates, though not all Britons are equally affected, leading to trade-offs rather than severe hardship, posing challenges for the government and potential political consequences.

economist.com

Relevant topic timeline:

8/19/2023

The amount Britain owes exceeds its GDP for the first time since 1961—and credit-rating agencies are watching

Britain's public debt load has risen by more than 40% to nearly £2.6 trillion ($3.3 trillion) since the pandemic began, causing concerns about the country's ability to service its liabilities and reigniting questions about its credit rating. The heavy reliance on index-linked bonds and the threat of inflation could further worsen the situation, potentially leading to a negative economic spiral that could last for years. The UK's debt burden is already higher than its entire annual economic output, and without action, it could balloon to three times the GDP over the next half century.

8/30/2023

Canada Feels Like a House of Cards Waiting to Collapse

Canada is facing a deep crisis due to a housing crisis, rising consumer debt, and high interest rates, which are causing unaffordability and financial vulnerability for working people, while the government's plan to address these challenges remains unclear.

9/3/2023

UK’s growth is silver lining – and clouds suggest recession looms

The UK economy has recovered more quickly from the pandemic than previously thought, outperforming Germany and other major Western industrial nations, although it still lags behind the G7 average, and there are concerns about the potential for a recession due to manufacturing struggles, sliding house prices, inflation, and strikes.

9/4/2023

America’s murder rate seems to be dropping—is a post-pandemic crime wave over?

Fewer people are being killed in American cities despite troubling absolute numbers; the notion that democracy is beneficial for a country's economy is not as straightforward due to the time and costs of transitioning, and the British government owes a debt to the country's hobbyists.

9/11/2023

Cost of Living Crisis Hits Household Budgets Hard as Prices Soar Across Housing, Food, Energy

The cost-of-living crisis in Ireland began in September 2021, with inflation hitting a 10-year high and prices for transport, housing, restaurants, and hotels skyrocketing, leading to financial hardships for households in various aspects of their lives such as mortgages, rent, health insurance, food, energy, fuel, hospitality, and waste collection.

9/11/2023

Emerging Economies Face Debt Crisis and Slowing Globalization Despite Leading Global Growth in a VUCA World Dominated by Tech

The global financial crisis of 2008 and subsequent events such as the covid-19 pandemic and the Ukraine war have created a more complex and volatile world, with challenges including a potential debt crisis, shifting growth engines, slowing globalization, new rules for technology, and a volatile and uncertain macro environment.

Topics

Posted 8/23/2023, 6:01:18 PM

Britons are not all in it together (whatever they might think)

economist.com

Relevant topic timeline:

8/19/2023

The amount Britain owes exceeds its GDP for the first time since 1961—and credit-rating agencies are watching

8/30/2023

Canada Feels Like a House of Cards Waiting to Collapse

9/3/2023

UK’s growth is silver lining – and clouds suggest recession looms

9/4/2023

America’s murder rate seems to be dropping—is a post-pandemic crime wave over?

9/11/2023

Cost of Living Crisis Hits Household Budgets Hard as Prices Soar Across Housing, Food, Energy

9/11/2023

Emerging Economies Face Debt Crisis and Slowing Globalization Despite Leading Global Growth in a VUCA World Dominated by Tech