I am a 40 year old professional design engineer living in Scotland. I live month to month, paying bills and buying food only. Really struggling to survive over the past 10 years.
Brexit and Net Zero policy has broken the country. Such self harm is unbelievable. Decided to turn its back on the UK biggest trading partners, and decided to no longer produced its own O&G required and for export....so now has to import, costing a huge amount and even more bad for the environment
I'm sorry. That sounds terrible. Is there any way you can supplement your gig income? I earn about $250 a month writing Minecraft programs for example.
I said this would happen as soon as you voted Brexit up. The worst thing England ever did was hold onto the pound while in the EU, it inflated the currency. And yes you will continue to drop until you meet your aggregate level for your economic activity.
The situation has a 70’s feel about it. The worrying difference is back in the 70’s the UK had an industrial base and an energy base far greater than it is now and if you strip out financial services, there’s not a great deal to see
& financial services are now slowly drifting to Eire & other parts of the EU. The UK is irrelevant to the EU except as a customer. I know that this is an over simplification but there is a kernel of truth in there. Especially since our military has been seriously depleted over the the past 15 or so years.
@@MazzaEliLi7406how would your military help the situation? Pax Americana is upon the world so trying to conquer some far off place to try Imperialism 2.0 ain’t happening even if you could win that fight
@ They are not moving from the city of London, which is not part of the UK & our laws. Stop inventing crap. The reason they will stay in London is their tax status. If you insist on commenting on financial affairs, please learn the fact first instead of your fantasy.
Now the UK has no markets thanks to Brexit. Turns out that burning all trust and bridges with the biggest market in the world right next door is a bad idea. Who knew? Back in 2020 analysts at the Bank of America stated that they thought the pound was going to become like an emerging market currency with wide fluctuations and vulnerable to the games hedge funds play with such currencies. Cue outrage from the Governor of the BoE but in 2022 the BofA doubled down on their prediction.
If the solution was more immigration, more austerity, less government investment, and more corporate tax dodging we'd have solved the UK's' problems over the last 15 years !
I live in the UK. Still pretty young. Married with no kids. We are making our exit plan, I have a dual NZ passport so could go live there or Australia. The UK could go to absolute shit in the not so distant future. There is not much hope for young educated professionals here.
You are the beneficiary of ONE life. While there is dignity in collective suffering (as during a war or pandemic) the U.K.’s current issues are a result of collective failures in government. My advice would be to do what is best and necessary for your family. God be with you young man!
@@johnmaguire2185 I'm Welsh, and 40+ and all I have known in the UK is poverty and scraping by, and it's gotten worse. The UK is unfairly balanced and now the castle of cards is falling due to the UK being London heavy and not spreading the wealth around. Bye bye UK glad to free Cymru
As a German, that sounds very familiar, aside from the gas ofc. Though we did, with no real need for it, discontinue the operations of all of our nuclear power plants. 🙂
@@Sunthaz Greenpeace co-founder, Dr. Patrick Moore, on the absolute lack of any correlation between temperature and human CO2 emissions: “Temperature has risen at a steady slow rate since before 1700, while human CO2 emissions were not relevant until 1850, and then began an exponential rise after 1950. This is not indicative of a direct causal relationship between the two.” Full talk: ruclips.net/video/d0Z5FdwWw_c/видео.html
See the 1980s and how profits from gas were used to pay for tax cuts rather than invested in the country and a sovereign wealth fund - so far so Thatcherite. Coal mining was deliberately undermined and run down to remove the power of the unions, we ended up importing dirtier coal from communist Poland.
The UK requires six new NPPs it was advides over a decade prior to the expected need to modernise the fleet, now we have dunkerflaute outages, in regards renewables vulnerable to the vagaries of weather.
Y'all could have tons of gold bars 6 inches below every persons lawn & your government wouldn't allow you to dig it up. Truth is the UK as an actual nation went toes up 4 or 5 decades ago. The WEF outpost currently dubbed " UK" is owned by blackrock\vanguard.
Ah, you mean if the majority of people want better services, why do they have to pay more tax? If the proper level of investment in services and infrastructure had been maintained between 2010 and 2024 we might not be where we are..... as the rising deficit over the last 14 years has unequivocally shown, "austerity" was NEVER about reducing the deficit, it was about keeping the poor in their place.......but I would expect some of you lot were BANG alongside that, eh🙄
@@iandennis7836if you want better services without it costing more then you need more productive public sector. You don't get an increase in productivity by giving away a massive pay rise unconditionally. And while we are at it, you don't get growth by talking the economy down. And by increasing employers NICs all you are going to get is lower investment and increased unemployment.
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.,
It's really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It's a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Jihan Wu! Imagine i invested $50,000 and received $190,500 after 14 days
Some persons think inves’tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why l'm lucky to have seen someone like mr Jihan Wu.
Jihan Wu Services has really set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helpful and changed lots of life's
I'm favoured, 90K every week! I can now give to the locals in my communities and also support God's work and the church. God bless America,, thank you Mr Jihan Wu😊🎉
A bumper sticker I saw in England back in the mid 80s: The Yanks have Reagan, Johnny Cash, Bob Hope, and Stevie Wonder. We have Maggie, no cash, no hope, and no bloody wonder.
It was a bloody *LABOUR* government which TRASHED our economy in the late 70s! Were times tough in the early 80s? Yep - because Thatcher was having to clear up the bloody DISASTER created by Callaghan's shower! And yet, compared to Starmer and Reeves, Callaghan and Denis Healey were a class act. So, if you thought the early / mid 80s were bad, you ain't seen *NOTHING* yet . . .
Reagan started the same damage to the US economy as Thatcher did to the UK and the world still thinks they were both right because the top 10% who benefited keep telling the rest of us that the austerity medicine and trickle down really will work this time.
I'm 24 and from the UK I've watched rent and food prices increase over the past 5 years by like 20% and its quite depressing. I didn't like what you said but that's just because it wasn't pleasant information😂but it was thought provoking and useful to hear. Also thank you for the squirrel bit at the end, it genuinely made me feel better and put a smile on my face
@@bg1616long term the UK will probably regress to the Global mean. You don’t produce anything and service sector will continue to move away long term elsewhere.
All OECD nations borrowed huge amounts during the pandemic. That caused the inflation. The lack of production during the pandemic had to be paid for, and that’s how it happens.
@@michaelgoodwin593 apart from the tories allowing our energy costs and housing costs to sky rocket being the biggest factor in our lack of GDP growth so we cannot off set the drop in yield.
Well, what makes me an outlier I guess! I am 57 year-old English immigrant, with zero interest in tech or stocks, and yet I am 110% committed to Bitcoin. I would describe myself as an extreme conservative/libertarian. I have been involved in UK politics for some time, and the main thing that drove me to study Bitcoin and ultimately recognise its value to Humanity was the threat posed by an over-weening government, first in the UK and lately in the US also. I regard the CBDC as the final brick in the wall of the totalitarian prison the world's governments are building for us. And Bitcoin is the ultimate defence against a tyrannical government.r.....I've been engaged in active trading and managed to grow a nest egg of around 2.3Bitcoin to a decent 24Bitcoin....I'm especially grateful to Francine Duguay, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing.
Huge court backlog. police force on its knees along with NHS is not exactly labour's fault, but they're all at sea as there are so many but they're answering with dogma like VAT on school fees likely to cost more than it takes in, and badgering business putting up costs and then prices, and courting CCP of all things who're just about to collapse economically and get sanctioned and tarriffed! SOMEONE is needing to get a grip-and as Nige has 9 other jobs to attend to its unlikely to be him either! Where have all the Brexit-directioning gurus gone-Oh they've jaunted off to greener pastures than 'newly-freed' UK! You couldn't make it up. Rats in a sack!
Stop reading the Daily Mirror. It is full of socialist crap. That's where tou got the Nine Jobs Nigel bs. Honestly a paper decrying someone who works all the hours God sends - is that really a paper whose values you want influencing you??
That's the problem. We can point out the issues but changing them is a different ball game. Most countries are suffering in some capacity. Ending wars for starters would be ideal but also a fantasy. Going after the rich is also that
@@reflective5001 my teaching sources at Public School explain that some 80% of feed paid to the school are paid by councils. No one has explained the statistics of who actually pays for what. Military subsidies also account for Public School Fees.
@@stevencrighton6890 People also used to think that ending the divine right of kings to rule was a fantasy, yet we largely got rid of monarchies in our timeline. The same thing can (and will) eventually happen to the wealth hoarders of the world. As far as war goes, if our future resembles Star Trek in any meaningful way, then WW3 will finally make us realize just how silly and stupid it is to fight amongst ourselves rather than work together.
The uk government hasn’t chosen to not increase tax, they’ve increased it by 40 billion and they’ve also chosen to change the fiscal rules to enable them to borrow more. Which is now costing much more because their strategy has flatlined the economy. They are economically useless….as always. The rest of the uk were warned by wales before the election. Two decades of labour government in Wales has destroyed the economy resulting in massive hikes in taxation, especially council tax.
labor governments always reduce the national debt more than Tory ones. Just wait until Trumps tariffs cause a Great Depression. Presumably you will be blaming woke bankers or something. None of them are any good, compared to the Chinese that is. Their wages have gone up 5x over the last 30 years. They have a lot further to fall than we do with flat wages for a decade.
They are both the same party , where have you been living. conservatives mess it up , then hand the baton to labour who continue until the next term , when conservative get back in the cycle continues and nothing that anyone voted for is done. Just lots of money wasted , immigration still bad, crime up , inflation up. standard or living down. 😞 How about coming up with a solution instead of blaming the other side of the uni-party 😞 it fools like you that are programmed. or are you a bot 😞
In 1963, the then Labour party leader, Harold Wilson spoke about his party’s plans to harness a ‘scientific revolution’ to modernise British industry and drive economic progress: “the Britain that is going to be forged in the white heat of this revolution will be no place for restrictive practices or for outdated methods on either side of industry.” Prime Minister Harold Wilson said in 1967 that the 14% devaluation of the £ did not mean the “pound here in Britain, in your pocket” had been devalued, despite the fact that this raised import prices. It now needs about £23 to have the same value as that £1.
You need more than £23 pounds today to match £1 in 1967, that figure is arrived at only by using the manipulated CPI - the real figure is more like £90+. Gold is another measure of value, and at the start of 1967 an ounce was £13, today it's £2200. All the currencies are devaluing, but the GBP is doing so more quickly than many others.
Yeah that 80p a year really hurts. Charles the Third did more for my depressed ex mining district in Ayrshire than any politician of the last 50 years.
If I look at the Pound-USD chart from 2016 till now, there is nothing special to be seen. The Pound has been significantly lower multiple times in the past 8 years. So this is rubbish and panic making.
@@TheAllMightyGodofCod Click bait. He hates the fact that we left the EU. He's rabidly pro EU and not sure if he still is but he was into property developing, hence why he hates Brexit, not enough people fighting for a poxy overpriced hamster cage to live in.
But the Pound in not crashing against the Ruble. It’s not crashing against any currency that is not pegged to the Dollar. It’s not crashing against the Euro. It’s just the US market and British market manipulation because they don’t like who’s in government and their policies. The UK economy is doing better than France.
Exactly, I think Joe understands that but has opted to omit it from the video because as a big finance guy, I'm pretty certain he's cool with the trump administration attacking the UK economically, anything to get rid of those crazy socialists and their pesky regulations..
We get our groceries and most of our cars from Europe so that's great news. Everything else that we import (and there's a LOT of it) we pay for in USD. The Pound has been relatively stable at around 1.28 to 1.32 since Brexit. The cost of my invoices has jumped in the last few months. 1.28 was bad but 1.21 is awful.
But Labour has increased tax. It has hit industry, retail, farming, EV vehicle ownership and employment really hard with massive tax increases. High interest rates push up cost of housing and fuels inflation. What did they think would happen? They have crashed the economy within a few months.
We already had the highest taxes in modern history. Brexit has given us major labour shortages, forget unemployment. The economy struggles to grow from a lack of builders, tech experts, agricultural workers, nurses. A lack of builders etc... means we can't build enough houses. Brexit has screwed the UK.
Low pound. Our exports are cheaper abroad so more attractive for foreign buyers. Increased exports. More jobs in the UK. Oops! Forgot that we don't manufacture any exports now. Thanks, Maggie.
If you remember her name then you must remember the unions destroyed British industries. Not that they would not have died by now anyway, but communism ideas in the union leaders started decline decades early.
Yep, all goes back to Thatcher, housing, water, utilities Rail and public transport generally Under funded defence sector meaning no engineering development coal steel everything…….bloody Thatcher. !
No political systems are fault-free, but socialism has never worked long term anywhere. Some northern EU countries are doing pretty well with a complex mix of socialism and capitalism, but it's really had to get the exact right mix. "Tax/borrow and spend" doesn't cut it.
They will tell you they're not Socialist. Starting a company there has less red tape than anywhere else in the world, there is private profit, private ownership, etc. They did have a good welfare state but immigration has started to destroy their countries. Sweden is the bomb capital of the world. They're all experienced rape and child rape epidemics. The "far right" are starting to get into power in those once-liberal havens. And it is getting worse.
We need to try capitalism for a change. Something you can't have with a fractional reserve banking system. It's anti capitalism & makes sure capital is not rewarded.
you don't seem to get that some northen countries is half of continental Europe , and you don't get that socialism can be cost saving as well. If you don't take care of the cripple and sick that cannot work they end living on the streets and then your cost will come as they have to steal rob and pillage in order to survive.
Communism and Capitalism have had good long runs at trying to work. Communism, as an ideal, would be nice, but cannot work in a world full of people who only know "Me. Me. Me." Rampant Capitalism is now proving that it, too, only works until the ultra-rich can buy whatever government they want. Socialism, as an operating system, has only been around since after WW II. Canadian Socialism had been working pretty well until American right-wing Conservatism began trying to dismantle it. Other nations (Sweden notably) have been doing quite well under Socialism. At one time all trade was done by barter. Then coinage, paper currency, banking, and on up to Crypto. Money is the grease that keeps the world moving - as the Soviets found out when they tried to run Russia with only a barter system in the 1920’s or 30’s. Economics evolves and we're now going through the initial throes of a new economic reality. The sort of throe that brings war with it due to how easily money greases things. We are now in a war between oligarchs. The UK economy is just a harbinger of “Things to Come” for the world at large. Communism and Capitalism really don’t matter any more except insofar as each winds up being created by or supporting dictatorships. Hold onto your hats.
I don’t understand how the UK Pound can be crashing since the country decided to Brexit in order to ‘take control’ and that should have improved their economy. Please explain.
In that case, you mustbe a bit of a youngster. I'm 73, and the collapse of the British economy has been predicted endlessly throughout my lifetime. Once the dollar starts weakening, as it will under Trump, thngs will start to level off.
@@jimmeltonbradley1497 we're in a period of managed decline. There's no other real avenue for us for as long as we treat our closest trading neighbours as strangers. The enormous amount of Brexit related red-tape is strangling the economy.
@@jimmeltonbradley1497 what we’re facing now is completely unprecedented. The AI threat. Climate change. Mass migration. Wealth inequality not seen since the Middle Ages. A real war in Europe. Pandemics. The rise of far right governments world wide. The welfare state on its knees. Corruption and rule breaking in the British government at levels never before seen. A single employed person in 1973 could realistically afford a home, had access to free or cheap higher education, or apprenticeships. Life was simple and easier and there was still decency in British society.
Emigrate, with your qualifications there are loads of possibilities out there. I did when I was 26 and never regretted doing so. German here, 64 now and living in the Netherlands.
@Hans-k9j We're looking to leave the UK and I've seen some good opportunities in the Netherlands (some recruiters even offering to help with things such as language classes) I believe there's a housing crisis similar to here though? Which puts us off a bit.
@@emekawilliams4333 from my early research there's a 30% exemption for skilled migrants for the first 20 months up to 5 years. I need to look into this more though.
Huge problem is that many central banks have been sleeping over the last decade, instead of bringing up the rates when it was required they constantly acted on timed delays. I asked the EU to investigate the root causes for inflation and one of their reports compared two countries bordering each other A and De and found that despite taking into account tax and local costings, the huge pricing differences were simply not valid and related to historic perception...well that's not good enough...We are still operating on old outdated financial systems that have not been working right for 40 to 50 years. So when do we stop this nonsense and formulate something that is workable and fair for all not just the mega rich.
it simply is not crashing at all - I've been buying Euros for a decade whenever I think the price is good and spending them on holiday - I KNOW that the retail price of Euros has fluctuated between 1.11 and 1.21 for almost the entirety of the last decade - since the Grexit fears.
Not being funny Joe but when Truss crashed the pound it was way outside of the general trend of the bond markets - that's why the BoE had to step in to prevent a run on the Pound. UK's current problems are trending WITH bond markets and whilst the pound is going through its ebb and flow it will remain within the trend. That's why the BoE hasn't had to step in with the same emergency measures that had to after the KamiKwarze budget. ALSO TO POINT OUT, the Tory govt was hiding a LOT of data from the OBR and indeed initially refused to allow OBR to audit the budget prior to the announcement. If they had done this, she might have gotten away with it. But she didn't - OH AND BY THE WAY no one is talking about how her actions permanently trashed everyone's pension pots, so there's that aspect too.
Socialism at it's absolute best and although i did expect this to happen, i wasn't expecting it to happen quite so quickly and quite so spectacularly, this is an horrendous government and things are only going to get worse
''Socialism'' This is a joke right..?! Reeves is an orthodox neoliberal following Thatcherite economics, listen to her, she espouses trickle down economic. What are you even ON about. This is the problem, trickle down economics does not work.
its crazy you blame this government when they have been put in a loose loose spot , since thatcher we have sold off all of our wealthy assets , we dont even own our own oil & gas anymore , all of our housing has been bought by the americans , we dont have any exports other than financial services which where crushed in 2008.
@Joe Bloggs Had you noticed that the BoE is also tightening its position and unwinding QE which means in effect they are in competition with the government in selling bonds / guilts. This seems madness and maybe they should be told to stop the offload for the time being?!
"The UK has been paying more for it's imports than it's receiving for it's exports." That's news to me. I wasn't aware the UK had exports, except for comedians and mediocre singers.
We only make money out of countries not in the E.U. We have a great surplus with the U.S.A. and surprisingly do very well with South Korea even though we appear to buy lots of manufactured goods from them .
But wait, keir said she’s doing a fantastic work!! They’ve got to be sitting on a massive gbp/usd short, just like when truss was around-act as if you don’t know what you’re doing, discourage investments. Crash it-cash out-raise interest rates, repeat. Just pumping money out of mortgage entrapped people
Yeah the cost of Sterling was crazy high in Sept/Oct/Nov especially when converting it from Euro. It was a period when buying UK goods just wasn't feasible compared buying the same items from EU vendors. A high Sterling rate kills UK businesses that need to export their goods into the Eurozone or US market (particularly when the UK market is not enough to keep in business).
AS A SELF EMPLOYED, TRADESMAN I HAVE NEVER STRUGGLED AS MUCH AS THIS LIVING IN THE UK, IN MY LIFE... AND AM FULLY AWARE THIS IS DONE ON PURPOSE, ON THE WESTERN WORLD GOVERNMENTS RACE FOR 2030 AGENDAS..
I'm a self employed tradesmen my self but am aware enough to know shouty capitals are a bad look. please explain what you are alluding too as it's not clear.
I am investing in the UK. Here are my top tips. Easily defendable land with it's own water source, a horse, seed potatoes and assortment of hand implements.
The UK economy has been a ticking time-bomb for the last few years. The hit of Covid and the failure to recover. Brexit acting as an anchor against growth. A government that simply couldn't get its act together AND the effects of the Liz Truss crash. And a new government that told the truth about just how awful the economy actually is, combined with some wealthy "investors" wanting the UK economy to crash and for that new government to fail.
Well if the Pound keeps falling then exports would be cheaper to sell. I’m not sure what the UK produces though. I’ve been stationed in Europe for 9 months now, the Euro isn’t that valuable anymore either.
And the government doesn’t own any of its own assets now. Won’t build council houses or re-nationalise anything. Tick tock - farage in 4 and counting. What a bunch of fools. Oh god for a left wing government who are for the people…
Brexit was about the biggest possible own goal you can score. And it also hurts EU, not as much but still. I know two positives that's it. Negatives are much worse for both sides.
The UK's systemic crisis is called BREXIT. In 2025 no nation successfully stands as an economic island going it alone. Not even the US. Besides NAFTA the US has trade agreements with Columbia, Japan, Australis and Korea that I'm aware of and more will be negotiated.......and the UK decided that going it alone was a good idea. Now they are going to get the sh*t kicked out of them for the next 4 years by Trump. Other bright shiny objects objects have his attention right now but be patient. Once he realizes the vulnerable position the UK is in he'll turn his full attention on you. That's what bullies do.
@@NoelKearns-ln7tj I'm german things are still better here, i guess. But if our right wing gets power i think it will get a low worse. Let's hope sometime it gets better. For us all. Don't give up hope.
Joe currency charts oscillate. Up to down and down to up. Look at the monthly charts. Sometimes they are predictable. But they will never go through the roof or floor. Thanks for the post.
@@telebubba5527 Look at the chart the pound has risen 5% in the last year it has increased all day it has fallen 0.5% over the last month but is 2% higher than 6 months ago. The pound has fall is against the dollar not the Euro , The Euro is down 10% against the dollar in the last 3 months and is still declining
@LZE, nonsense argument your making there. Things were supposed to get much better. Why are you shooting the messenger? Go back to whoever lied to you in the first place!
The problem is not just the UK, the pound in higher against the euro than last year and has even been climbing over the last few days, The issue is the dollar has increased by around 20% over the last few months. People are waiting to see how the next four years go and are putting their money in US Treasuries. Check the DXY index and you will see the reaction to recent news. Warren Buffet has liquidated 25% of stock in the last few months, people are unsure about the worlds future.
No put a couple of million Pakistani and first cousin marriages and everything will be great. The treasure will love it and it’ll grow like hell again that is after all government policy isn’t it?
It's not really the drop of the pound, but the gain of the dollar. Look at all the other big currencies, they see a similar drop to the dollar. The pound has actually been gaining to the euro, which is more important for direct trade.
It matters not all fiat currency will go the same way, inflation and more printing will eat at its purchasing power, the only hope you have is pay your debt and buy real assets ,and ride the storm. 😞 The dollar will be the last to go, as that's the petrol dollar, even that's losing its power
@@tommarney1561 Which graph? In the last 12 months the pound went from 1.16 euro to 1.19 euro in a steady slow gain. It lost a bit this week, but you can't really look deep into a tiny dip like that. That is just part of the ongoing small fluctiations.
Euro!!!! the world runs on the $ its the reserve currency You might remember Russia and the BRICS group thought the Rubble should be the Reserve currency look how that has worked out! Energy the most important thing in the world is priced in DOLLARS everything is tied to the $ I'm old enough to have lived through the First Arab W in 1973 ar that saw oil go from $1.40 a barrel to over $8 in a week the world really never recovered. That's why the USD exchange rate really is the MOST important
The UK is really in recession now, judging by how poor retail sales was in December. We must sack Rachel Reeves immediately, reverse the NI increases and remove the changes to pensions too. That is the only way to reverse this disastrous crash and total loss in confidence in the government and the UK economy.
@@secretchefcollective444 year right Poland is about to take over UK in GDP per capita, most EU countries still doing way better. Maybe take your Daily Mail rainbow glasses and look around, small businesses are going under precisely because of additional costs associated with not being in the EU.
@@secretchefcollective444 I can see this in practice, many of my Polish employees went back because they can get very similar or in some cases better salary than her in UK.
@@secretchefcollective444 Are you dense ? Poland is doing insanely well economically and has done since 2008 , while the tories turned the uk's GDP generation into 70% financial services , and got rid of all our manafacturing exports like steel , poland invested in both meaning when 2008 hit , they where basically uneffected and continued to grow. Why do you think all the polish lorry drivers and workers fucked off back home ? Because their country is booming and ours is a shit corupt bag of shit attached to londons banking sector.
The UK as most of its tax servants would call its country which the rest of the world sees as an asset owned by blackrock\vanguard. Unfortunately for the tax servants that live in that asset is , your owners actually need the actual British to be nice and quiet as their WEF preferred 3rd World citizens continue your replacements... But hey y'all can say as an nation prior that it lasted a decent long while so you got that going for ya !! Good on you....
2.80 to 1.22 records the decline. A managed decline is getting out of hand. Spending cuts or tax rises, not a wealth tax mind.. Labour socialism does not challenge the status quo..
Correct me if I'm wrong, but if it's taking more USD to buy the same amount of another country's currency, then that currency is getting stronger, not weaker . Back in the 80's I was stationed in Japan, and when we first arrived in early 86' the Yen to USD was just under ¥200 to $1. Three years later, the Yen had gained strength against the Dollar and my $1 was only getting me ¥118. My off base apartment's rent never went up but it was still costing me almost 50% more in USD to pay the same ¥65,000 a month. Today, and retired in the Philippines, the PH Peso is weakening a small bit since we arrived almost two years ago. Back in 2022 the Peso was trading at ₱55 to $1, and now it's ₱59.5 to $1, so I'm getting +₱4,000 more Pesos for every $1,000 exchanged. So if the British Pound would get to a 1 for 1 against the Dollar, it makes it a stronger currency, because now London can purchase more USD with fewer Pounds.
@@stephenvince9994Agreed, it’s so horrendously biased, even in what he chooses to cover. Giving one sided coverage doesn’t help anyone, especially not Ukrainians.
In addition to the fact that you're basically wrong. Russia IS MORE IMPORTANT than a couple of percent movement in exchange rates. The pound was doomed by Brexit and Truss - it takes years for macro economic factors to destroy an economy - there is little that even competent management can do to repair the damage and borrowing extravagance of the last government in the medium term.
Problem with the Tories is that they acted no different than the Labour party. They completely bundled "Brexit" with STILL no clear plan as well as allowing White Londoners to become a minority in their nation's own capital. This now set the stage for Labour to take back majority and they have no one to blame but themselves
Pre-July 2024 Gen Election Tory policy of successfully driving down inflation was the best economic policy, not Labour's policy of spending and putting up tax & National Insurance costs! We're now paying the penalty for believing in Labour's election menu (not me) without the prices! I partly blame Rishi Sunak for calling an election before he needed to and threw a lot of good Tory MP's out of the commons! The best thing Labour could do now for the country is resign and call another General Election and be pretty quick about it!
Calling the election later would only have delayed the inevitable though and this month we'd be looking at 5 years of hard Labour. At least we've only 4.5 more years of infantile economics left. Looking on the bright side, we're now 10% of the way through what may well be the last-ever Labour government.
When a nation hands over its essentials services to private companies, permits those companies to monopolise the markets while pushing down employee wages and rights, then neglects to regulate profits while also providing tax cuts to extremely rich shareholders (many of which don't live or have any alliance to the UK), these are the consequences. For a long time, the UK government has acted as a representative for a select group of very wealthy individuals/organisations. The wealth that once belonged to the UK public has been stolen over the past few decades.
actually its all the lazy people on benefits dragging the country down. we need to stop pandering to people with no intention to give back to the economy
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.,
It's really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It's a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Jihan Wu! Imagine i invested 50,000 and received 190,500 after 14 days
Some persons think inves’tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why l'm lucky to have seen someone like mr Jihan Wu.
Jihan Wu Services has really set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helpful and changed lots of life's
I'm favoured, 90K every week! I can now give to the locals in my communities and also support God's work and the church. God bless America,, thank you Mr Jihan Wu😊🎉
The underlying problem with Britain is we have a barrister at the controls with a personality of a wet towel and underlings with personalities of wet flannels ! 😵💫
I’m not sure their personalities are the problem…I think it’s the party’s corruption. But I’m from across the pond, noticing parallels to our own issues.
I am a 40 year old professional design engineer living in Scotland. I live month to month, paying bills and buying food only. Really struggling to survive over the past 10 years.
exactly the same national living wage is actually modern day slave wage
Brexit and Net Zero policy has broken the country. Such self harm is unbelievable.
Decided to turn its back on the UK biggest trading partners, and decided to no longer produced its own O&G required and for export....so now has to import, costing a huge amount and even more bad for the environment
I'm sorry. That sounds terrible. Is there any way you can supplement your gig income? I earn about $250 a month writing Minecraft programs for example.
Move to England and prosper 🙏
@@macmcleod1188 I make more selling dishcloths and pegs. I wouldn't even get out of bed for what you're offering 🤡
This isn't just a party issue anymore. As a society we're cooked.
Majorly cooked 🍲. It’s over
Yea. Yea, you're cooked.
I said this would happen as soon as you voted Brexit up. The worst thing England ever did was hold onto the pound while in the EU, it inflated the currency. And yes you will continue to drop until you meet your aggregate level for your economic activity.
@@StevenHaze damm. If only we had listened to you.
@@michaelgoodwin593 I am just dumb s&*t Aussie, no one listens to me mate!
The situation has a 70’s feel about it. The worrying difference is back in the 70’s the UK had an industrial base and an energy base far greater than it is now and if you strip out financial services, there’s not a great deal to see
& financial services are now slowly drifting to Eire & other parts of the EU. The UK is irrelevant to the EU except as a customer. I know that this is an over simplification but there is a kernel of truth in there. Especially since our military has been seriously depleted over the the past 15 or so years.
@@MazzaEliLi7406how would your military help the situation? Pax Americana is upon the world so trying to conquer some far off place to try Imperialism 2.0 ain’t happening even if you could win that fight
@ They are not moving from the city of London, which is not part of the UK & our laws. Stop inventing crap. The reason they will stay in London is their tax status. If you insist on commenting on financial affairs, please learn the fact first instead of your fantasy.
Now the UK has no markets thanks to Brexit. Turns out that burning all trust and bridges with the biggest market in the world right next door is a bad idea. Who knew?
Back in 2020 analysts at the Bank of America stated that they thought the pound was going to become like an emerging market currency with wide fluctuations and vulnerable to the games hedge funds play with such currencies. Cue outrage from the Governor of the BoE but in 2022 the BofA doubled down on their prediction.
@@tonydalton6756really?
If the solution was more immigration, more austerity, less government investment, and more corporate tax dodging we'd have solved the UK's' problems over the last 15 years !
Less proxy wars
Less Immigration, Less business tax, no war against non-doms
But more austerity - absolutely
they forgot the setup cost of importing new migrants, the UK can't even afford that
Exactly
This sounds like stuff an enemy of the state would do if they were in power.
UK a banana republic without bananas .
More like a Police State wait for Two Tier to blame the crash on the FAR RIGHT
They have the bananas the Pakistanis are giving British 13 yo girls.
... without even the means to import more bananas!
Not to worry, the US can deliver those for free...
It is called “ A straight cucumber kingdom”. Official.
I live in the UK. Still pretty young. Married with no kids. We are making our exit plan, I have a dual NZ passport so could go live there or Australia. The UK could go to absolute shit in the not so distant future. There is not much hope for young educated professionals here.
Can you expand on your reasoning of direction of movement that means the UK goes to shit?
oh woe woe thrice times woe......... with that attitude you're not needed.
well good luck in Australia, move there and you will be out of the pan and into the fire.
You are the beneficiary of ONE life. While there is dignity in collective suffering (as during a war or pandemic) the U.K.’s current issues are a result of collective failures in government. My advice would be to do what is best and necessary for your family. God be with you young man!
@@johnmaguire2185 I'm Welsh, and 40+ and all I have known in the UK is poverty and scraping by, and it's gotten worse. The UK is unfairly balanced and now the castle of cards is falling due to the UK being London heavy and not spreading the wealth around.
Bye bye UK glad to free Cymru
The Uk floats on top of 200 years of coal and even more gas. Yet we have the highest industrial electricity prices.
As a German, that sounds very familiar, aside from the gas ofc. Though we did, with no real need for it, discontinue the operations of all of our nuclear power plants. 🙂
@@Sunthaz Greenpeace co-founder, Dr. Patrick Moore, on the absolute lack of any correlation between temperature and human CO2 emissions:
“Temperature has risen at a steady slow rate since before 1700, while human CO2 emissions were not relevant until 1850, and then began an exponential rise after 1950. This is not indicative of a direct causal relationship between the two.”
Full talk: ruclips.net/video/d0Z5FdwWw_c/видео.html
See the 1980s and how profits from gas were used to pay for tax cuts rather than invested in the country and a sovereign wealth fund - so far so Thatcherite. Coal mining was deliberately undermined and run down to remove the power of the unions, we ended up importing dirtier coal from communist Poland.
The UK requires six new NPPs it was advides over a decade prior to the expected need to modernise the fleet, now we have dunkerflaute outages, in regards renewables vulnerable to the vagaries of weather.
Y'all could have tons of gold bars 6 inches below every persons lawn & your government wouldn't allow you to dig it up. Truth is the UK as an actual nation went toes up 4 or 5 decades ago. The WEF outpost currently dubbed " UK" is owned by blackrock\vanguard.
Rachel from accounts will be back in April with a new set of tax demands………
More like Karen from Customer Complaints.
Ah, you mean if the majority of people want better services, why do they have to pay more tax? If the proper level of investment in services and infrastructure had been maintained between 2010 and 2024 we might not be where we are..... as the rising deficit over the last 14 years has unequivocally shown, "austerity" was NEVER about reducing the deficit, it was about keeping the poor in their place.......but I would expect some of you lot were BANG alongside that, eh🙄
@@iandennis7836if you want better services without it costing more then you need more productive public sector. You don't get an increase in productivity by giving away a massive pay rise unconditionally. And while we are at it, you don't get growth by talking the economy down. And by increasing employers NICs all you are going to get is lower investment and increased unemployment.
I feel like I am being robbed living this country. I am exhausted and poor I hate this place
There will be a white tax soon.
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments.
Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.,
It's really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It's a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Jihan Wu!
Imagine i invested $50,000 and received $190,500 after 14 days
Some persons think inves’tin is all about buying stocks;
I think going into the stock market without a good experience is a big risk, that's why l'm lucky to have seen someone like mr Jihan Wu.
Jihan Wu Services has really set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helpful and changed lots of life's
His guidance allowed me to restructure my retirement plan, resulting in an estimated $700,000 more by the time I retire.
I'm favoured, 90K every week! I can now give to the locals in my communities and also support God's work and the church. God bless America,, thank you Mr Jihan Wu😊🎉
Underlying problems ?? 😂😂 That’s an understatement 👍👍👍
Not entirely surprised when London is a first world economy surrounded by a second-to-third world country.
London isn’t first world he just looks like it to Third World people.
Much like the USA. Places like Mississippi have child mortality rate on a par with India.
And controlled by a fantasy world government.
The CITY OF LONDON is a first world economy surrounded by the third world Metropolises of London Boroughs.
So Oxford and Cambridge are not first world? Clown
A bumper sticker I saw in England back in the mid 80s:
The Yanks have Reagan, Johnny Cash, Bob Hope, and Stevie Wonder.
We have Maggie, no cash, no hope, and no bloody wonder.
I remember that as joke, but same, around mid 80's match.
I bloody wish we had that old witch in charge. This starmer guy is even worse.
It was a bloody *LABOUR* government which TRASHED our economy in the late 70s! Were times tough in the early 80s? Yep - because Thatcher was having to clear up the bloody DISASTER created by Callaghan's shower! And yet, compared to Starmer and Reeves, Callaghan and Denis Healey were a class act. So, if you thought the early / mid 80s were bad, you ain't seen *NOTHING* yet . . .
Reagan started the same damage to the US economy as Thatcher did to the UK and the world still thinks they were both right because the top 10% who benefited keep telling the rest of us that the austerity medicine and trickle down really will work this time.
Liebore ruined the British economy in 1979, ending with the winter of discontent you muppet..😂
I'm 24 and from the UK I've watched rent and food prices increase over the past 5 years by like 20% and its quite depressing. I didn't like what you said but that's just because it wasn't pleasant information😂but it was thought provoking and useful to hear. Also thank you for the squirrel bit at the end, it genuinely made me feel better and put a smile on my face
Only 20 % increase in Food prices and rent since pre Pandemie? Thats significantly less than in Eurozone Austria (more likely 30+ %)
Saddest thing is there are no signs that it is going to get better. Mortgages up, energy bills up, food prices up, god knows what else
@@bg1616long term the UK will probably regress to the Global mean. You don’t produce anything and service sector will continue to move away long term elsewhere.
All OECD nations borrowed huge amounts during the pandemic. That caused the inflation. The lack of production during the pandemic had to be paid for, and that’s how it happens.
I recommend marrying someone from a better country.
The Euro has lost more than the Pound against the Dollar over the last year.
Yes, buy dollars!
But some nations in the Eurozone are net EXporters do the Dollarzone.
So the EU is not a good option afterall
I live better in Portugal than the majority of the British.
@@terryluckhurst4114 Still better than the UK and no chance that you can get back in the EU for the coming decade.
The pound is taking a pounding
Too soon
What a joke about eight dollars when I was young
that was a pun? Because it was utterly incorrect.
@@occamraiser Yes, joking about the Pound's decline makes very little cents.
There you go a-yen with your money gags !
They should stop blocking industrious people from earning an income
Labour cant help themselves.
100 % 👍
@@michaelgoodwin593 apart from the tories allowing our energy costs and housing costs to sky rocket being the biggest factor in our lack of GDP growth so we cannot off set the drop in yield.
That’s what communism does
@@bfcfan2739 What are you on?
Well, what makes me an outlier I guess! I am 57 year-old English immigrant, with zero interest in tech or stocks, and yet I am 110% committed to Bitcoin. I would describe myself as an extreme conservative/libertarian. I have been involved in UK politics for some time, and the main thing that drove me to study Bitcoin and ultimately recognise its value to Humanity was the threat posed by an over-weening government, first in the UK and lately in the US also. I regard the CBDC as the final brick in the wall of the totalitarian prison the world's governments are building for us. And Bitcoin is the ultimate defence against a tyrannical government.r.....I've been engaged in active trading and managed to grow a nest egg of around 2.3Bitcoin to a decent 24Bitcoin....I'm especially grateful to Francine Duguay, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
She's mostly on Telegrams, using the user name
@Francineduguay
The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing.
Got a chance to benefit from her services a few weeks ago and it has been a very smooth experience.
Thank you…. I have searched her up Google I think I am satisfied with her experience.
Huge court backlog. police force on its knees along with NHS is not exactly labour's fault, but they're all at sea as there are so many but they're answering with dogma like VAT on school fees likely to cost more than it takes in, and badgering business putting up costs and then prices, and courting CCP of all things who're just about to collapse economically and get sanctioned and tarriffed!
SOMEONE is needing to get a grip-and as Nige has 9 other jobs to attend to its unlikely to be him either! Where have all the Brexit-directioning gurus gone-Oh they've jaunted off to greener pastures than 'newly-freed' UK!
You couldn't make it up. Rats in a sack!
Stop reading the Daily Mirror. It is full of socialist crap.
That's where tou got the Nine Jobs Nigel bs. Honestly a paper decrying someone who works all the hours God sends - is that really a paper whose values you want influencing you??
That's the problem. We can point out the issues but changing them is a different ball game. Most countries are suffering in some capacity. Ending wars for starters would be ideal but also a fantasy. Going after the rich is also that
@@reflective5001 my teaching sources at Public School explain that some 80% of feed paid to the school are paid by councils. No one has explained the statistics of who actually pays for what. Military subsidies also account for Public School Fees.
@@stevencrighton6890 People also used to think that ending the divine right of kings to rule was a fantasy, yet we largely got rid of monarchies in our timeline. The same thing can (and will) eventually happen to the wealth hoarders of the world.
As far as war goes, if our future resembles Star Trek in any meaningful way, then WW3 will finally make us realize just how silly and stupid it is to fight amongst ourselves rather than work together.
Wake up you fool it’s taken 80 years of bloody anarchy to arrive at this point
The uk government hasn’t chosen to not increase tax, they’ve increased it by 40 billion and they’ve also chosen to change the fiscal rules to enable them to borrow more. Which is now costing much more because their strategy has flatlined the economy. They are economically useless….as always. The rest of the uk were warned by wales before the election. Two decades of labour government in Wales has destroyed the economy resulting in massive hikes in taxation, especially council tax.
labor governments always reduce the national debt more than Tory ones. Just wait until Trumps tariffs cause a Great Depression. Presumably you will be blaming woke bankers or something. None of them are any good, compared to the Chinese that is. Their wages have gone up 5x over the last 30 years. They have a lot further to fall than we do with flat wages for a decade.
You mean Tories?
One day you idiots will slash your social spending by half it needs to be massively reduced to you’re lazy idle millions do some bloody work
@ivan-Croatian are you special needed? The man said in WALES
They are both the same party , where have you been living. conservatives mess it up , then hand the baton to labour who continue until the next term , when conservative get back in the cycle continues and nothing that anyone voted for is done. Just lots of money wasted , immigration still bad, crime up , inflation up. standard or living down. 😞 How about coming up with a solution instead of blaming the other side of the uni-party 😞 it fools like you that are programmed. or are you a bot 😞
The british pound is vastly overvalued.
All dragged by London. The adjustment to reality will be brutal
In 1963, the then Labour party leader, Harold Wilson spoke about his party’s plans to harness a ‘scientific revolution’ to modernise British industry and drive economic progress: “the Britain that is going to be forged in the white heat of this revolution will be no place for restrictive practices or for outdated methods on either side of industry.”
Prime Minister Harold Wilson said in 1967 that the 14% devaluation of the £ did not mean the “pound here in Britain, in your pocket” had been devalued, despite the fact that this raised import prices. It now needs about £23 to have the same value as that £1.
You need more than £23 pounds today to match £1 in 1967, that figure is arrived at only by using the manipulated CPI - the real figure is more like £90+. Gold is another measure of value, and at the start of 1967 an ounce was £13, today it's £2200. All the currencies are devaluing, but the GBP is doing so more quickly than many others.
UK need to stop paying tax for the monarch
It's not make any sense in 2025
Yeah that 80p a year really hurts. Charles the Third did more for my depressed ex mining district in Ayrshire than any politician of the last 50 years.
If I look at the Pound-USD chart from 2016 till now, there is nothing special to be seen. The Pound has been significantly lower multiple times in the past 8 years. So this is rubbish and panic making.
Every time I watch one of he's videos something doesn't add up and people comment he does this all the time...
@@TheAllMightyGodofCod Click bait. He hates the fact that we left the EU. He's rabidly pro EU and not sure if he still is but he was into property developing, hence why he hates Brexit, not enough people fighting for a poxy overpriced hamster cage to live in.
@ Joe is starting to lose credibility with me.....
@@dutchbavarian exactly and I am also, the whole social media scene is loosing credibility with me
I agree, it’s alarmist rubbish.
the wider Joe's smile is, the more savage the news are
🤣💀
yes, echo the same--schadenfreude?
It makes Absolutely No difference to me how high or low the value of the pound is…..BECAUSE I DON’T HAVE ANY !
you use Euros? Or you just steal all your shopping?
But your groceries will get more expensive, so it will….
I don’t eat
@@occamraiser leave the jokes to Ken Dodd fella,…
@@alistairrobinson3865 They will get more exepnsive regardless, companies don't care even if it went down
A country shooting itself in both feet, electing Boris the clown, fights itself for years, what can go wrong?
The Labour government.
No worries. Keep calm.
The cheap pound will boost exports and tourism.
But the Pound in not crashing against the Ruble.
It’s not crashing against any currency that is not pegged to the Dollar. It’s not crashing against the Euro.
It’s just the US market and British market manipulation because they don’t like who’s in government and their policies.
The UK economy is doing better than France.
Exactly, I think Joe understands that but has opted to omit it from the video because as a big finance guy, I'm pretty certain he's cool with the trump administration attacking the UK economically, anything to get rid of those crazy socialists and their pesky regulations..
Absolute tosh! - the pound was at just 1.13 to the euro only a couple of years back, this is NOT a "crash"!
We get our groceries and most of our cars from Europe so that's great news. Everything else that we import (and there's a LOT of it) we pay for in USD. The Pound has been relatively stable at around 1.28 to 1.32 since Brexit. The cost of my invoices has jumped in the last few months. 1.28 was bad but 1.21 is awful.
Fiat economy - always at the mercy of crooks and currency speculators
This 2025. Nearly all nations have fiat currency back by debt.
Crooks are everywhere in all kinds of markets to scam gullible investors.
Why Starmer keeps saying he is going to make Brexit work is beyond me. Blame Brexit, blame the Tories.
EXACTLY. 14 years of Tory disaster.
But Labour has increased tax. It has hit industry, retail, farming, EV vehicle ownership and employment really hard with massive tax increases. High interest rates push up cost of housing and fuels inflation. What did they think would happen? They have crashed the economy within a few months.
We already had the highest taxes in modern history. Brexit has given us major labour shortages, forget unemployment. The economy struggles to grow from a lack of builders, tech experts, agricultural workers, nurses. A lack of builders etc... means we can't build enough houses. Brexit has screwed the UK.
What about 10 million Immigrants no builders? just lazing about in Hotels at the tax payers expense but they vote Labour so can't send them back
@@stephenthomas3085 What Brexit? Are you people for real? I can't believe your vote is worth the same as an intelligent persons.
..and we have to listen to Starmer and his nasal voice.. 'I'm going to spot some trains at Euston'
What do you expect when you're all doing the bidding of God-King Charles, Lord Rothermere, and Nigel Farage?
there won’t be austerity measures for the half a million boat people though will there.
👍
@@Jason24-e4y Why not? Would living in the UK not mean the same economic environment? Don't be a hater all your life!
Low pound. Our exports are cheaper abroad so more attractive for foreign buyers. Increased exports. More jobs in the UK.
Oops! Forgot that we don't manufacture any exports now.
Thanks, Maggie.
If you remember her name then you must remember the unions destroyed British industries. Not that they would not have died by now anyway, but communism ideas in the union leaders started decline decades early.
nor are we in the single market either 😢
Yep, all goes back to Thatcher, housing, water, utilities
Rail and public transport generally
Under funded defence sector meaning no engineering development coal steel everything…….bloody Thatcher. !
@@jonathonpotts5666
Bloody Boris and his lying mates.
nah you mean "Thanks Unions"
Well done Joe. Don’t pull any punches. A good presentations
The pound is being pounded by the US dollar..
ALL currencies (including the USD) are racing towards zero relative to hard assets.
Dollar is hitting most currencies , its not just the Pound. Euro graph looks the same, Yen is worse etc.
Did you watch the video at all?
Judging by their username I very much doubt it. Just another mouth piece/bot.
Maybe you watch till the end, then understand it’s many factors causing the run on the pound, very simple.
No political systems are fault-free, but socialism has never worked long term anywhere. Some northern EU countries are doing pretty well with a complex mix of socialism and capitalism, but it's really had to get the exact right mix. "Tax/borrow and spend" doesn't cut it.
Oil and gas greases well whatever system of government it's in...
They will tell you they're not Socialist. Starting a company there has less red tape than anywhere else in the world, there is private profit, private ownership, etc. They did have a good welfare state but immigration has started to destroy their countries. Sweden is the bomb capital of the world. They're all experienced rape and child rape epidemics. The "far right" are starting to get into power in those once-liberal havens. And it is getting worse.
We need to try capitalism for a change. Something you can't have with a fractional reserve banking system. It's anti capitalism & makes sure capital is not rewarded.
you don't seem to get that some northen countries is half of continental Europe , and you don't get that socialism can be cost saving as well. If you don't take care of the cripple and sick that cannot work they end living on the streets and then your cost will come as they have to steal rob and pillage in order to survive.
Communism and Capitalism have had good long runs at trying to work. Communism, as an ideal, would be nice, but cannot work in a world full of people who only know "Me. Me. Me." Rampant Capitalism is now proving that it, too, only works until the ultra-rich can buy whatever government they want. Socialism, as an operating system, has only been around since after WW II. Canadian Socialism had been working pretty well until American right-wing Conservatism began trying to dismantle it. Other nations (Sweden notably) have been doing quite well under Socialism.
At one time all trade was done by barter. Then coinage, paper currency, banking, and on up to Crypto. Money is the grease that keeps the world moving - as the Soviets found out when they tried to run Russia with only a barter system in the 1920’s or 30’s. Economics evolves and we're now going through the initial throes of a new economic reality. The sort of throe that brings war with it due to how easily money greases things. We are now in a war between oligarchs.
The UK economy is just a harbinger of “Things to Come” for the world at large. Communism and Capitalism really don’t matter any more except insofar as each winds up being created by or supporting dictatorships. Hold onto your hats.
I don’t understand how the UK Pound can be crashing since the country decided to Brexit in order to ‘take control’ and that should have improved their economy. Please explain.
Highest exchange rate since Brexit was in 2018 and £1 = $1.43. Similar rates but higher averages 4 years ago at $1.38 with highs of $1.4249
_"...put a smile on your face."_
I didn't smile, I was laughing so hard that a smile was out of the question.
The pound is 1.19 against the Euro though and the EU is the UKs principal trading partner.
So what?
That's a very normal rate - look at the 10 year graph
@@terencefield3204 in about two years, the pound will be 0.8 against the euro. Then what?
@@terencefield3204it shows the strength of the dollar in relation to other currencies
World trade and the reserve currency is still the USD, so this is the better barometer of UK prosperity. Perhaps we should join BRICS?
I’ve never scene such uncertainty in the British economy.
In that case, you mustbe a bit of a youngster. I'm 73, and the collapse of the British economy has been predicted endlessly throughout my lifetime. Once the dollar starts weakening, as it will under Trump, thngs will start to level off.
@@jimmeltonbradley1497 we're in a period of managed decline. There's no other real avenue for us for as long as we treat our closest trading neighbours as strangers. The enormous amount of Brexit related red-tape is strangling the economy.
@@jimmeltonbradley1497 what we’re facing now is completely unprecedented. The AI threat. Climate change. Mass migration. Wealth inequality not seen since the Middle Ages. A real war in Europe. Pandemics. The rise of far right governments world wide. The welfare state on its knees. Corruption and rule breaking in the British government at levels never before seen.
A single employed person in 1973 could realistically afford a home, had access to free or cheap higher education, or apprenticeships. Life was simple and easier and there was still decency in British society.
Thanks for the info
I graduated as a doctor and I can’t get a job. Some of my peers that I graduated with are on benefits. It’s not looking good tbh.
Emigrate, with your qualifications there are loads of possibilities out there. I did when I was 26 and never regretted doing so. German here, 64 now and living in the Netherlands.
Move to N. Ireland. We're in dire need of doctors!
@Hans-k9j We're looking to leave the UK and I've seen some good opportunities in the Netherlands (some recruiters even offering to help with things such as language classes) I believe there's a housing crisis similar to here though? Which puts us off a bit.
What's the Dutch tax regime looking like compared to the UK?
@@emekawilliams4333 from my early research there's a 30% exemption for skilled migrants for the first 20 months up to 5 years. I need to look into this more though.
Starmer and Reeves are hypnotised by their own world of CERTITUDE.
But the value of the pound rose against the danish kroner 😊
Trump will be pleased 😂
Pork futures, obviously fell
Don't the Danes not use the Euro?
Butter and Bacon will be cheaper
I am sure the Danish currency will surge once they sell Greenland.
Huge problem is that many central banks have been sleeping over the last decade, instead of bringing up the rates when it was required they constantly acted on timed delays. I asked the EU to investigate the root causes for inflation and one of their reports compared two countries bordering each other A and De and found that despite taking into account tax and local costings, the huge pricing differences were simply not valid and related to historic perception...well that's not good enough...We are still operating on old outdated financial systems that have not been working right for 40 to 50 years. So when do we stop this nonsense and formulate something that is workable and fair for all not just the mega rich.
We're Doomed, Doomed I tell you.
Fraser was right
$AUD is crashing as well! Wherever Labor governs economies crash! 🙄
I can always believe this is opportunity to cut spending.
How about getting the government out of our pockets
How exactly are they in your pockets...?
Thanks Rachel from Complaints
It’s not crashing like Argentina! Man it’s a sh.. show out there!
Take a few quid over there and live like a king
it simply is not crashing at all - I've been buying Euros for a decade whenever I think the price is good and spending them on holiday - I KNOW that the retail price of Euros has fluctuated between 1.11 and 1.21 for almost the entirety of the last decade - since the Grexit fears.
Yeah but if Rachael from Accounts in in post for much longer we may be like Argentina
Nothing compared to the exchange rate in Febrary of 1985 when the two currencies nearly reached parity.
Not being funny Joe but when Truss crashed the pound it was way outside of the general trend of the bond markets - that's why the BoE had to step in to prevent a run on the Pound. UK's current problems are trending WITH bond markets and whilst the pound is going through its ebb and flow it will remain within the trend. That's why the BoE hasn't had to step in with the same emergency measures that had to after the KamiKwarze budget.
ALSO TO POINT OUT, the Tory govt was hiding a LOT of data from the OBR and indeed initially refused to allow OBR to audit the budget prior to the announcement. If they had done this, she might have gotten away with it. But she didn't - OH AND BY THE WAY no one is talking about how her actions permanently trashed everyone's pension pots, so there's that aspect too.
Starner ruins everything he touches. He needs to go.
Starmer the harmer ? Nahh 14 years of Tory negligence more like. Have a word with Rishi
Joe Bloggs the only channel that puts a smile on your face 😁
Socialism at it's absolute best and although i did expect this to happen, i wasn't expecting it to happen quite so quickly and quite so spectacularly, this is an horrendous government and things are only going to get worse
''Socialism'' This is a joke right..?! Reeves is an orthodox neoliberal following Thatcherite economics, listen to her, she espouses trickle down economic. What are you even ON about. This is the problem, trickle down economics does not work.
you are experiencing capitalism, sir.
You’re an idiot! Or a bot. - choose!
@@randallmakhanya Or possibly incompetence.
its crazy you blame this government when they have been put in a loose loose spot , since thatcher we have sold off all of our wealthy assets , we dont even own our own oil & gas anymore , all of our housing has been bought by the americans , we dont have any exports other than financial services which where crushed in 2008.
No one is mentioning that since Brexit the pounde never recovered. Brexit is the cause
If you do not know who Liz Truss is count yourself lucky
Rachael from retail isn’t cutting the mustard
@Joe Bloggs Had you noticed that the BoE is also tightening its position and unwinding QE which means in effect they are in competition with the government in selling bonds / guilts. This seems madness and maybe they should be told to stop the offload for the time being?!
I think Richard Murphy suggested this.
@@Agameda1 Yup. Watched that video. Asked questions about it via 'a different bias' but thus far there has been no response
@@Agameda1 Exactly, i think he was spot on.
"The UK has been paying more for it's imports than it's receiving for it's exports." That's news to me. I wasn't aware the UK had exports, except for comedians and mediocre singers.
We only make money out of countries not in the E.U. We have a great surplus with the U.S.A. and surprisingly do very well with South Korea even though we appear to buy lots of manufactured goods from them .
People have forgotten what a Labour government really means for the economy.
They're getting a pretty rough re-education in what it means.
And people haven’t forgotten the disastrous Truss budget and the great British disaster aka Brexit.
@@Whizzy-jx3qe absolutely
Mate. BOTH parties are ruined the U.K. let’s be honest. I despise them both ❤
@johncarter7355 As an outsider the tories have been the ones tearing most of the country down the past 15 years
Great video Joe
But wait, keir said she’s doing a fantastic work!! They’ve got to be sitting on a massive gbp/usd short, just like when truss was around-act as if you don’t know what you’re doing, discourage investments. Crash it-cash out-raise interest rates, repeat. Just pumping money out of mortgage entrapped people
There is a chance if we all go long on the pair, they will have to back out and we cash out on them?
Economies are supertankers if you don't like this year's economy talk to truss, not even Sunak.
he won get over it.
@@ab-js2gw ...and the UK lost. Get over moaning about complaints, they won't stop until adults are in charge of the economy.
@@ab-js2gw His jaiket is on a shoogly nail though ! and Rachel's.
Yeah the cost of Sterling was crazy high in Sept/Oct/Nov especially when converting it from Euro. It was a period when buying UK goods just wasn't feasible compared buying the same items from EU vendors. A high Sterling rate kills UK businesses that need to export their goods into the Eurozone or US market (particularly when the UK market is not enough to keep in business).
AS A SELF EMPLOYED, TRADESMAN I HAVE NEVER STRUGGLED AS MUCH AS THIS LIVING IN THE UK, IN MY LIFE... AND AM FULLY AWARE THIS IS DONE ON PURPOSE, ON THE WESTERN WORLD GOVERNMENTS RACE FOR 2030 AGENDAS..
The Kalergi Plan?
Or have you become entitled in your wealthy countries and do not understand that the majority of the world struggles and has always done...?
I'm a self employed tradesmen my self but am aware enough to know shouty capitals are a bad look. please explain what you are alluding too as it's not clear.
@@jakleo337
Kallerghie-Plan
Hoothon-Plan
UN Plan Replacement Migration
Agenda 2030
@@stephenthomas3085 I dont care about the rest of the world mate I only care about where I live
I am investing in the UK. Here are my top tips. Easily defendable land with it's own water source, a horse, seed potatoes and assortment of hand implements.
The UK economy has been a ticking time-bomb for the last few years.
The hit of Covid and the failure to recover. Brexit acting as an anchor against growth. A government that simply couldn't get its act together AND the effects of the Liz Truss crash.
And a new government that told the truth about just how awful the economy actually is, combined with some wealthy "investors" wanting the UK economy to crash and for that new government to fail.
Pretty fair summation. IMO.
Well if the Pound keeps falling then exports would be cheaper to sell. I’m not sure what the UK produces though. I’ve been stationed in Europe for 9 months now, the Euro isn’t that valuable anymore either.
end the net zero insanity
Grand Job again ❤ 😊
Underlying problems.....cough...Brexit cost us £100bn........per year cough
And the government doesn’t own any of its own assets now. Won’t build council houses or re-nationalise anything. Tick tock - farage in 4 and counting. What a bunch of fools. Oh god for a left wing government who are for the people…
Brexit was about the biggest possible own goal you can score. And it also hurts EU, not as much but still. I know two positives that's it. Negatives are much worse for both sides.
At least there is a few commenting on the shit show that is Brexit, a few with a basic understanding of trade and economics!
The UK's systemic crisis is called BREXIT.
In 2025 no nation successfully stands as an economic island going it alone. Not even the US. Besides NAFTA the US has trade agreements with Columbia, Japan, Australis and Korea that I'm aware of and more will be negotiated.......and the UK decided that going it alone was a good idea. Now they are going to get the sh*t kicked out of them for the next 4 years by Trump. Other bright shiny objects objects have his attention right now but be patient. Once he realizes the vulnerable position the UK is in he'll turn his full attention on you. That's what bullies do.
@@NoelKearns-ln7tj I'm german things are still better here, i guess. But if our right wing gets power i think it will get a low worse. Let's hope sometime it gets better. For us all. Don't give up hope.
Joe currency charts oscillate. Up to down and down to up. Look at the monthly charts. Sometimes they are predictable. But they will never go through the roof or floor. Thanks for the post.
We are lucky the UK left our EU... we already have a Greece, no need for a UK..
Check the Euro, the pound is doing better and has been gaining, you may have an even worse issue.
@@stewartmartinbrown7286 The pound is plummeting compared to the Euro at the moment. Have a look yourself. It is definitely not gaining.
As a net contributor to the EU, the UK's certainly lucky that it left.
@@telebubba5527 Look at the chart the pound has risen 5% in the last year it has increased all day it has fallen 0.5% over the last month but is 2% higher than 6 months ago. The pound has fall is against the dollar not the Euro , The Euro is down 10% against the dollar in the last 3 months and is still declining
@LZE, nonsense argument your making there. Things were supposed to get much better. Why are you shooting the messenger? Go back to whoever lied to you in the first place!
Sadly the UK is finished and is fast becoming a third world country we need cheap energy and low taxes
The UK needs to reverse all their anti-business policies. That's the only way out.
Who on earth is planning to go to the 💩🎭across the pond? Trust the good old ‘barter’ system. I have so many sheep and goats to exchange!😊
That's why your nation is a laughingstock
Nice one JB ...straight talk
Can you do a collab with Garys Economics?
The problem is not just the UK, the pound in higher against the euro than last year and has even been climbing over the last few days, The issue is the dollar has increased by around 20% over the last few months. People are waiting to see how the next four years go and are putting their money in US Treasuries. Check the DXY index and you will see the reaction to recent news. Warren Buffet has liquidated 25% of stock in the last few months, people are unsure about the worlds future.
Joining BRICS is the answer. The US total debt is unsustainable and the $US is just one big bubble waiting to burst.
The UK needs some serious reform
Hopefully not the company. That would be worse
No put a couple of million Pakistani and first cousin marriages and everything will be great. The treasure will love it and it’ll grow like hell again that is after all government policy isn’t it?
Reform with a capital R
Vote reform uk so go completely into total shit😂
Reform meaning remove the government
i like the options part
It's not really the drop of the pound, but the gain of the dollar. Look at all the other big currencies, they see a similar drop to the dollar.
The pound has actually been gaining to the euro, which is more important for direct trade.
It matters not all fiat currency will go the same way, inflation and more printing will eat at its purchasing power, the only hope you have is pay your debt and buy real assets ,and ride the storm. 😞 The dollar will be the last to go, as that's the petrol dollar, even that's losing its power
Not according to the graph Joe presented.
@@tommarney1561 Which graph? In the last 12 months the pound went from 1.16 euro to 1.19 euro in a steady slow gain.
It lost a bit this week, but you can't really look deep into a tiny dip like that. That is just part of the ongoing small fluctiations.
Euro!!!! the world runs on the $ its the reserve currency You might remember Russia and the BRICS group thought the Rubble should be the Reserve currency look how that has worked out! Energy the most important thing in the world is priced in DOLLARS everything is tied to the $ I'm old enough to have lived through the First Arab W in 1973 ar that saw oil go from $1.40 a barrel to over $8 in a week the world really never recovered. That's why the USD exchange rate really is the MOST important
The US dollar is just one gigantic bubble waiting to burst.
The UK is really in recession now, judging by how poor retail sales was in December. We must sack Rachel Reeves immediately, reverse the NI increases and remove the changes to pensions too. That is the only way to reverse this disastrous crash and total loss in confidence in the government and the UK economy.
Everyone with common sense said Brexit will lead to this and yet people sofa experts screamed it’s project fear, you reap what you sow.
Umm, sweatie, if you didn't notice the EU ain't doing too great either.
@@secretchefcollective444 year right Poland is about to take over UK in GDP per capita, most EU countries still doing way better. Maybe take your Daily Mail rainbow glasses and look around, small businesses are going under precisely because of additional costs associated with not being in the EU.
@@ab-js2gw Lol, Poland? Any further arguments are clearly invalid until you recheck your assertion.
@@secretchefcollective444 I can see this in practice, many of my Polish employees went back because they can get very similar or in some cases better salary than her in UK.
@@secretchefcollective444 Are you dense ? Poland is doing insanely well economically and has done since 2008 , while the tories turned the uk's GDP generation into 70% financial services , and got rid of all our manafacturing exports like steel , poland invested in both meaning when 2008 hit , they where basically uneffected and continued to grow.
Why do you think all the polish lorry drivers and workers fucked off back home ? Because their country is booming and ours is a shit corupt bag of shit attached to londons banking sector.
The UK as most of its tax servants would call its country which the rest of the world sees as an asset owned by blackrock\vanguard. Unfortunately for the tax servants that live in that asset is , your owners actually need the actual British to be nice and quiet as their WEF preferred 3rd World citizens continue your replacements... But hey y'all can say as an nation prior that it lasted a decent long while so you got that going for ya !! Good on you....
2.80 to 1.22 records the decline. A managed decline is getting out of hand.
Spending cuts or tax rises, not a wealth tax mind.. Labour socialism does not challenge the status quo..
Unfortunately none of the politicians in the uk want to take on the wealthy
Correct me if I'm wrong, but if it's taking more USD to buy the same amount of another country's currency, then that currency is getting stronger, not weaker .
Back in the 80's I was stationed in Japan, and when we first arrived in early 86' the Yen to USD was just under ¥200 to $1. Three years later, the Yen had gained strength against the Dollar and my $1 was only getting me ¥118. My off base apartment's rent never went up but it was still costing me almost 50% more in USD to pay the same ¥65,000 a month. Today, and retired in the Philippines, the PH Peso is weakening a small bit since we arrived almost two years ago. Back in 2022 the Peso was trading at ₱55 to $1, and now it's ₱59.5 to $1, so I'm getting +₱4,000 more Pesos for every $1,000 exchanged. So if the British Pound would get to a 1 for 1 against the Dollar, it makes it a stronger currency, because now London can purchase more USD with fewer Pounds.
I tried to warn that it was us that was going down, but you're so consumed with Russia.
Many simple people have been hoodwinked by Far-Left propaganda.
The UK economy and currency is doing a lot better than Russia’s
Yes I agree. I stopped watching this channel over its obsession with downing russia.
@@stephenvince9994Agreed, it’s so horrendously biased, even in what he chooses to cover. Giving one sided coverage doesn’t help anyone, especially not Ukrainians.
In addition to the fact that you're basically wrong. Russia IS MORE IMPORTANT than a couple of percent movement in exchange rates. The pound was doomed by Brexit and Truss - it takes years for macro economic factors to destroy an economy - there is little that even competent management can do to repair the damage and borrowing extravagance of the last government in the medium term.
1$ = .82£ says google (6 hours after this video posted). Good job
Problem with the Tories is that they acted no different than the Labour party. They completely bundled "Brexit" with STILL no clear plan as well as allowing White Londoners to become a minority in their nation's own capital. This now set the stage for Labour to take back majority and they have no one to blame but themselves
this is today's most ridiculous comment so far.
That was always the plan! Cheap labor for business and ignore the voters. The entire Anglosphere is doing it!!!
@@edwardbernthal160 His comment is right on.
@@jakleo337 and your IQ is?
Thank you
Pre-July 2024 Gen Election Tory policy of successfully driving down inflation was the best economic policy, not Labour's policy of spending and putting up tax & National Insurance costs! We're now paying the penalty for believing in Labour's election menu (not me) without the prices! I partly blame Rishi Sunak for calling an election before he needed to and threw a lot of good Tory MP's out of the commons! The best thing Labour could do now for the country is resign and call another General Election and be pretty quick about it!
Driving down inflation is easy when you have pushed it record high. I guess the rest of your comment is just as moronic.
Calling the election later would only have delayed the inevitable though and this month we'd be looking at 5 years of hard Labour. At least we've only 4.5 more years of infantile economics left. Looking on the bright side, we're now 10% of the way through what may well be the last-ever Labour government.
@@amalgamatedtripeproduction2853 who is paying you to post this? Is Musk already investing in British politics?
I used to travel several times to England per year, usually to London. I haven’t been in 8 hrs. It’s simply NOT England any more.
When a nation hands over its essentials services to private companies, permits those companies to monopolise the markets while pushing down employee wages and rights, then neglects to regulate profits while also providing tax cuts to extremely rich shareholders (many of which don't live or have any alliance to the UK), these are the consequences.
For a long time, the UK government has acted as a representative for a select group of very wealthy individuals/organisations. The wealth that once belonged to the UK public has been stolen over the past few decades.
actually its all the lazy people on benefits dragging the country down. we need to stop pandering to people with no intention to give back to the economy
Summed it up.
Once Joe starts talking about a country being net importer, you know it's getting real.
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The underlying problem with Britain is we have a barrister at the controls with a personality of a wet towel and underlings with personalities of wet flannels ! 😵💫
I’m not sure their personalities are the problem…I think it’s the party’s corruption. But I’m from across the pond, noticing parallels to our own issues.
Hm Boris,Liz, rishi, Theresa and Cameron did a Stirling job didn't they...
A boring politician not screaming about migrants, trans and wanting to go to war with nearly anyone. Damn wouldnt that be nice
As a fellow American. There are no comparisons between our economy’s. Other than our debt is both outrageously high, and needs to be cut down.
@@stevehaddon151 they all piss in the same pot ! 😵💫