the uk has a feeling of being broken for the last 10 years, its just negative negative negative, everything is just getting more unattainable and expensive
@@meth3rlence possibly yeah, i mean i can only speak for my working life and im 31 so i only really noticed over the last 10 years but i certainly wouldnt be surprised if it has been 25 years or longer
We're all a lot poorer than the 1970s. Then you could buy a house and support a wife and kids on a single average wage. Now you can barely buy a caravan and keep a budgie on a single average wage.
We live in strange times. Homeless person can now own a device with more computing power than all NASA computers that took a man to the Moon in 1969 combined but cannot afford a home.
@ it’s not them, they take orders from their puppet masters, hence Keir Starmer and Rishi Sunak being part of Davos world leaders programme (along with many others) following set agendas
The media and the government are the same people. The UK media lies for labor and the USA media lies for the democrats. I can 100% guarantee you the American media is about to 180 on the economic reporting once Trump takes office.
I dont listen to the mainstream crap anymore telling us things are on the mend! .Every time I go to my local shop im £40 lighter on basics.Items are now half the size and twice the price. Something has to happen as I dread to think what next 2 or 3 years will be like. Hunger games comes to mind!
I don’t believe any of these numbers, I only have to travel around the UKs major cities to see that the country is in steep economic decline. Inflation at 2.5%? So why has my car insurance doubled, fuel bills tripled, food up 50% and mortgage 20% in 3yrs? Most of the US data is questionable and revised downwards later when no one’s looking. Apparently 60% of Americans couldn’t afford a $1000 emergency bill, so if the American economy is booming, it’s only the rich becoming richer.
True inflation is over 10% at least- your shopping basket will prove it to you, but the Govt or MSM will never tell the public as there will be an outcry. Only a fool will believe its 2.5% utter lies.
The reason why they are not telling us is because we would do something about it, drastic changes. The agenda is to run the country into the ground for UBI
The exact point I've been making - energy prices have doubled at minimum, grocery bills have doubled, mortgages up by 25-50%, but inflation at 10% at its peak? Nah.
While we act as a brain drain for the rest of the world. We have been taking the best doctors, engineers and nurses from India and Africa for 30 years.
@@anthonylulham3473 GDP per capita falling in relation to GDP by 2% in the last few years as Sasha highlights in the video completely disproves this. We're losing British millionaires with degrees and important jobs and replacing them with Uber drivers. All of the good immigrants are already in the West. There is no more brain to drain from the 3rd world. The average immigrant who came here over the last 3 years underperforms white Brits in every improtant economic metric, we're making the country worse in every way by importing these people.
@@anthonylulham3473 key word being "have". You no longer do. Everyone is looking for the exit because they can see that the myths of the "pound being the strongest currency" along with other myths from 30 years ago are no longer applicable.
@@royshaft Its not all bad when you look at the grand scheme of things, the average working class today lives a far better life than a king just three or four centuries ago
@@BenMiles-c3u I have worked since 1980 , every decade has given me more in wages , and I’m worse off . Explain that ! Inflation is a hidden tax , and it’s about to spike again , and you Ben , my dear friend , will be richer than a king apparently.
Agreed. Because spending forms a part of GDP, they just borrow and spend just enough to prevent a technical recession. Businesses are feeling it though.
90% of UK citizens don't understand the value of the pound is decreasing. The spending power is shitting itself and people are contempt with a small pay rise when inflation numbers out perform it on a huge scale. Slavery never left, it just became modernised.
Barely anybody talks about GDP per capita, and by that measure, UK is not the 6th richest country (total gdp), but in fact, 27… To be clear, we should be talking annoy gbp per capita !!
Without cheap energy an industrial economy can Not be competitve in the Global Economy in the UK we have very expensive green energy or imported energy so we are doomed
Green energy is cheap, its the gas prices keeping it high as everything is tied to the most expensive source as we have the dumbest energy system in the world.
I feel your wage point is fine but profit growth doesn't lead to more wages as the profit goes right into the pockets of the higher ups, you can see this first hand, I've seen the ceo's wage increase wildly whilst all they've done is cut benefits of the staff, the higher ups won't listen unless theyre forced, it's pick a bad option that helps workers or a bad option that doesn't, so I'll pickthe workers every time
@rasmussenrandy5082 in a lot of areas they haven't, but I thought it came across but I think I didn't word it well enough. That encouraging competition and increasing growth is good and will sometimes lead to increased wages, but not as much as it needs to be when were talking peoples ability to survive, the two option should go hand in hand, encourage growth whilst forcing the greedy companies to pay more than they want too
It feels like we've been in recession since 2008. I havent seem any growth in my town since then but ive seen plenty of places closed down and stay empty.
Hey Sasha, I really appreciate these videos with their no nonsense, straight to the point perspective. These are incredibly scary times in which we are a part of and I fear the damages have only just begun. Whilst I know from a millennial perspective things are bleak, I can't help but worry about the younger generations who are just starting out their careers or looking to get on the property ladder. As Milton Friedman said in the 90's! "The system continues to promote the myth that the private economy is unstable, while it's behaviour continues to document the reality that government is today the major source of economic instability"
I spotted that article on the BBC. Fasal Islam is massively biased to Labour. There have been many articles from him that are almost party political broadcasts. Sasha is spot on about enforced wage growth. When the minimum wage is pushed up the money to pay those wages is coming from the middle. Causing problems because people get well paid at the start of the career but there is no jump in wages when they get promotion. So why take on the stress and extra hassle for a tiny amount of salary boost? You don’t. So productivity takes a dive because no one wants to push themselves.
"people get well paid at the start of the career". What planet do you actually live on? Most people are paid incredibly low wages. Wages have consistently lagged behind inflation even before the current cost of living crisis. I can tell you have never actually ever spoken to real working class people and asked about their experiences of poverty, trying to keep on top of rent, food and energy bills. Productivity takes a dive because demand does not exist. Demand does not exist because most of the working class is not paid enough to afford anything more than paying rent, food and bills. You want to run an economy based on consumption, inflated asset prices and also on low wages and then you are suddenly befuddled as to why the economy stagnates. And another thing, don't try to pull in the middle income earners into your sphere of support, if they are smart enough they will see that the same processes that have decimated the well being if the proletariat, are on their way to rob them of their wealth, next.
I work in architecture, no pay rises since April 23, now work out the increased costs since then. I loathe the capitalist system, waited to the employers, zero incentive to progress in some jobs these days.
I’m in the power industry, and when our last coal fire station closed in October, those idiots stood up and cheered in the house of idiots ( sorry brown envelope accepting ministers ) oops I’ve said it. Just waiting for the police right now 😂😂😢😢
If you increase the minimum wages without increasing the value of a job you either make that job unviable or you create an environment where business have to squeeze the most work they can out of each employee with the ones who are contributing the least being let go. Neither is a good outcome for employees.
If a company can only make profit by paying it's staff slave wages then that businesses profitability is based on exploitation not generating value... Neither is the fault of the employee but the company.
@@Passionfruit1456 In that scenario the company goes bust an the employee loses their job. Is that better for the employee? The reality is that increasing the minimum wage will increase inflation and the people on the lowest wages will be the most affected. It's a vicious cycle that can only be broken by wage inflation coming through growth.
I wouldn't worry. Net zero and green energy almost caused a blackout last week and we're likely to see them thanks to the milliband. I say I wouldn't worry but I would. Countries on the verge of collapse and the BBC are telling us it's all fine. Mental. Good video
America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
Every day we have a new problem. It's the new normal. At first we thought it was a crisis, now we know it's a new normal and we have to adapt. this year will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned 180k savings to turn to dust
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
My CFA ““Jessica Dawn Walters "" a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
nah mate they gaslighting as they did in the lead up to the 2008 financial crises and Brown telling everyone no more boom and bust. He ran up one crazy boom and then bus cycle.
@@dcoughla681 but it took us seventy years to do so. We are just now starting to turn things around. And you guys are basicly speedrunning peronism. We already learned the hard way, what these policies do and how they fail miserably. The UK should have learned from our mistakes
@@tuff9486 Argentina is expected to grow up by 5% this year due to Milei’s economic model which is not Peronism, more like Trumpism. In contrast, the UK is headed for recession, the jobs market has dried up, manufacturing & retail sales are down & productivity is dire and it’s not even April when the budgetary measures kick in. Rachel Reeves needs to go. No more excuses.
Hi Sasha. Great content, as usual. I’ve been reading and trying to understand about the Bank of England’s current QT process, and its effects/side-effects of limiting government spending. Do you have any videos on this, or suggestions for videos. I’d really like to hear your understanding about the issues around this on the UK economy. Specifically, I want to know the real reasons why the BoE are doing this now., and why it is doing it so aggressively. Thanks🙂. Any commenters on this welcome. TIA...
Hi Sasha, I’ve worked in land development before and targets are one of the few things that actually can move the dial in terms of development. The biggest barrier currently comes at the planning phase and so by setting higher targets they force local council members to accept applications as they fall within policy to meet targets. The moment that they have ample housing to meet their targets they stop accepting any more applications, increasing these target forces council members to accept applications or lose at tribunal processes.
Depending on how you look at it, could be a year now. Owner Occupier Costs have only started going up as rates went up and then there was a lag between that and mortgages renewing, so the bite came a little later after inflation.
@SashaTakesOnUK apologies, it was a statement not a question. I don't believe a single thing any government across the globe says! We all know they lie and things are upside down.
Not sure why this is noteworthy, based on the statistics you have shared the UK economy has stagnated for the entire 14 months showcased (and much longer), this has been a perennial issue since 2008.
I feel like the British paupers in the Victorian era where they were struggling to eat and always sick because they were cold or eating bad food. We’re buying reduced food and struggling to pay utility bills so we’re always cold and because of that we’re always getting sick which makes it hard to work effectively. It’s not because of any other reason than this government’s harsh taxes because of their insatiable borrowing
Disengaged small business owner here - economically inactive (by choice, but still drawing minimum wage). There is no incentive to try, so heads down on R&D till it all blows over...
I'd rather wait until I get official statistics from the ONS, and use quarters which are consistent with what we've used for decades - otherwise we're pulling random dates out the air. Next we could be defining a recession as 2 months of negative growth rather than quarters. Once consistency goes out the window it makes it harder to know what to believe
Not including housing in CPI is ridiculous and a major reason why house prices have risen out of sync with earnings and are now increasingly out of reach for more people. 15 plus years of low interest rates haven't helped either.
Hiking minimum wage above a level that the economy can support will just end up hurting the people that it's supposed to help. I can see us heading for a cash economy. The price is this, or 20% less if you pay cash. You want a job? Okay, but its cash, £10/hour, no tax or NI, and you can still collect your benefits.
I'm sorry, but who you to lecture us on what is good for us? So we, the working class, have to consistently and continually put up with low wages, high asset prices, over-priced goods and services just to keep you happy? I assume you want yet more wage restraint for the poorest members of society, right? Just to keep you happy and wealthy? so you say making me poor makes the economy healthy? If so, why should I be in any way invested in it? Where is the incentive to work hard of you habitually insist on under-paying us? What is the point of a free market economy if it is only you and a small bunch of your rich friends that benefit from it? Are you going to tell me that at some point "the wealth trickles down"? Because only a fool would read the data from the past 30 years and say that the wealth of the working class has improved due to moneterism, then neo-liberalism.
@SOIIndsutries No, I am telling you that if an employer can't make enough money to pay a very low skilled worker minimum wage, then that low skilled worker won't have a job for much longer.
@@craptacular8282the response to this is usually if a company can't afford minimum wage its not a viable business. The problem with that is - alot of businesses in UK run on razor margins due to the input costs (as service based economy it is mostly labour!) Those businesses will likely bring automation in ASAP and kill off jobs. Minimum wage policy should be more carefully managed lest you promote reducing labour and unemployment rises... You can also disincentivise productivity growth via skill/education/promotion as the gap between skilled and unskilled labour shrinks. Graduate £14ph/Shop worker £13ph Lastly you reduce the consumption of services supplied by minimum wage workers - consumers start to feel/realise its costing me alot more to buy a burger out, than cook it myself (this is ofcourse always the case but it becomes more apparent) Or conversely if you don't increase minimum wage workers enough then companies can exploit certain parts of population for cheap labour -> albeit we already do that just in other countries 😂. I think labour has made the first mistake and now we will see.. 1. Universities in trouble as it cements less reason to upskill 2. Inflationary pressures + job losses in tandem - jobs that can't be cut back or automated will get little pay bumps off the back of their poorer performing/less skilled colleagues job losses 3. Be headwinds to consumer confidence & growth
@@banksfit5302 Universities are already in serious trouble. Tory policy on visa's saw to that, they lost a boat load of foreign students. Which in turn has also done damage to a number of local economies.
@@craptacular8282If a company can only make profits due to the excessive exploitation of workers on slave wages then that company doesn't generate any value, and it deserves to go bust. Stop providing excuses for these badly run businesses.
Wages are going up just like everything else as the currency is devalued - it doesn't drive inflation; it's a symptom of it. Businesses are outright cash cows for the government and the tax take has gone too far. It's murdering aspiration and entrepreneurship. The tax thresholds are a joke. The message seems to be: work hard, take risks and you will be punished. But it's ok, Rachel has brokered some vague deal with the Chinese. Historically the economy went very well with minimal government intervention. Now it needs lots of "managing" just to go nowhere.
Been saying we're in stagflation for a while now. Although i dont expect the media to confirm this for me it is still ridiculous to never see it mentioned even as a potential danger. Feels like all sides are so aware of how fragile the economy and country is that they can't consider real criticism of the govt as it would in some way feed into the (inevitable) crash, and I suppose so many of the commentariat would lose their shirts.
Nice video, Sasha, but I don't agree on one point. As you said effective inflation is much higher accounting for rents and mortgages. So Accounting for assets inflation, CPIH is much higher. So the problem in the global economy are HYPERINFLATING ASSETS PRICES. I don't agree at all that wages should not grow, that would be much worse. THE REAL PROBLEM IS ASSETS PRICES EVERYWHERE AND IT'S NOT Difficult TO SEE.
One of the positives of starting to dabble in the markets is the parallel attention I now, but never used to, pay to the broader economy. Even my novice grasp of economics has allowed me to notice, and feel, the punches. Thanks for doing what you do, it helps me gain fluency and knowledge.
Great job Sasha as always. Thanks for your clarity and shining a light on the numbers. The headline regarding the 1.5 million homes being built to 'save the dream of homeownership' is laughably tragic. The dream of homeownership is dead for the vast majority of those who don't already own a home. How about building homes just to put a roof over people's heads?
@SashaTakesOnUK absolutely. In their term Labour won't put one brick on top of another let alone build 1.5m houses. Their 'plan' is for others to do it, without any idea of who those 'others' are. The art of delegation . . .
It’s the stated goal to slow the economy, so the great reset and central bank CBDCs can be brought in (with social credit system) . We will be more receptive as a population to any ‘improvement ‘ from the current situation.
To be honest having more immigrants coming in will boost production in the UK which will have a positive effect on the UK economy which means buisnesses will then be able to actually afford wage increases instead of what's happening now and everyone will be better off...
@johnxina2361I think one very important aspect of the asylum seeking process, especially here in UK that everyone seems to completely ignore for some reason. Is that asylum seekers that are still being processed cannot work and cannot contribute to the economy at all. Under conservatives there was a massive backlog of people who simply weren't getting processed fast enough and weren't able to do anything. They weren't able to send their kids to school. They weren't able to find work. They weren't able to even leave their accommodations for any real period of time and they had to live on basically government resources which were absolute dogshit.
@cata112233 yes the ones that ARNT being processed, the ones that have are already (most likely) in the work force and the ones that do and will come in the future will also help boost the economy I mean why do you think trump and elon are fighting for h1b visas in the US, it's because they know the more immigrants they bring into the US the better the economy looks on paper from extra work force and the better it looks for them, once the uk wraps its head around that then we will see growth
@ You have to have skills to actually be a net benefit in the UK due to the welfare system. The vast majority of migrants have low skills, and the data backs this up. We already have loads of poor people in the UK, why we mass import them is baffling.
@@SashaTakesOnUK Why are you lying to your viewers that the UK is in recession? A recession is 3 successive periods of negative growth. We just had 0.1% growth - therefore it is not a recession.
Er, ... ONS website stats show 2024: Q2 = +0.5% Q3 = +0.1% Q4 = Oct: -0.1%, Nov +0.1%, Dec tba Recession is x2 QUARTERS of negative growth, not two months - and we haven't even achieved that yet because December's data is not available yet! So, as per the correct definition, the UK is NOT in recession! Not YET anyway!
FINALLY SOMEONE HAS THE BALLS TO SAY IT AND THANK YOU! Minimum wage in this country is out of control and harmful to both businesses and economy in this country. People won’t like to hear that but it’s absolutely bang on.
Spot on analysis. Without investing in education and business you can forget growth. The decision to spend £22b on carbon capture instead of investment is insane!
I really enjoy watching your content Sasha. I like yourself have had to defend the argument for wage increases being a bàd thing. I always explain it as a zero sum game in terms of rapid wage increases generally means rapid cost increases which will generally wipe out the initial wage increases and everything is more expensive but the workers see little improvement beyond their original living conditions. Its like saying that being on life support is a healthy living. I agree that in order to cover cost increases and improve the average living standards the country needs a serious growth trajectory above 2% per annum at least for the next 5 years. Thanks for the video and keep up the great work.
@gavinheath17 It isn't what I consider. Economists have an actual definition of a "recession" that they use: two (or sometimes three) successive quarters of economic contraction in an economy's GDP. The UK does not meet this definition as it grew by 0.1%. Not impressive, but also not a recession.
@@harrydamien6346 in economic terms 0,1% growth is still basically a flatline. To back it up, the BoE has not even bothered to consider lowering interest rates, bond growth is extremely nominal, manufacturing data is on life support, job markets are in retraction reflecting increases in losses, retail data showed the lowest festive season sales figures in years but hey let's just focus on the 0,1% which is supposed to be an absolute victory.
Scrap the minimum wage, unemployment benefit should only last 12 months and should only be given if you have paid something in. Get rid of the greenbelt restrictions.
The following speaks volumes to me. The BBC reported on what Kemi Badenoch had to say during her first major speach. Search the BBC For 'Badenoch criticises Tory handling of Brexit' Here is an extract from them of what she said. Quote start. She attacked Labour for announcing policies without a plan to back them up. "When you haven't worked out what you are going to do in opposition, you will accept whatever you are given in government," she said. "That's why Rachel Reeves announces mad and bad ideas on snatching winter fuel and taxing family farms." "Those options were presented to us, time and time again by officials and we rejected them time and time again because they would hurt so many people for so little benefit." Quote ends. These bloody officials need to be held to account. I suspect this is the work of the civil service since they approached both parties. All because they want more people taxed to pay their salaries and gold-plated pensions. Time they are given a good shake-up. I always thought it was beyond labour to have come up with these policies.
My thing with minimum wage, companies are going to go where ever cheaper, call centres to India, manufacturing to China etc. Argue with that fact as people may, it is what it is. Min wage is more of a stealth tax if anything as businesses just pass the extra costs on. There's so many problems with a high min wage it's like were do we start!
Economists are obsessed with the increase in GDP. The government have increased GDP by employing more civil servants and spending more by issuing government bonds (debt = government deficit).
Wage growth is irrelevant; what truly matters is what your money can buy. In the 1950s, a man earning £500 a week was considered wealthy, as the average house cost around £2,000-just a few times his annual income. Today, that same wage barely qualifies as minimum pay, while the average house price has skyrocketed to over £250,000, requiring many years of earnings to afford. Why has this happened? Over the years, governments have devalued their national currencies by increasing the money supply far beyond the growth of goods and services produced - for example, just think back to what happened during COVID. This leads to inflation, where each unit of currency buys less. The phenomenon isn’t new-Roman emperors, for example, reduced the gold content of coins to stretch their resources, resulting in a similar devaluation of money and rising prices. The lesson remains the same: increasing the supply of money without increasing real wealth (the total amount of goods and services produced) diminishes its value. IT IS NOT ROCKET SCIENCE!!!
In parts of the state sector, wages continue to increase while productivity falls. The private sector cannot keep up with this ever-increasing burden, as over-regulation, tax increases and energy price rises outstrip the profits from any increased productivity.
Nothing wrong with a recession. We need to clear out all that government malinvestment. If the government stimulates with qe or low interest rates it's going to be twice as bad
The UK feels like its in permanent recession.
Because it is for years
the uk has a feeling of being broken for the last 10 years, its just negative negative negative, everything is just getting more unattainable and expensive
It has been for the last 25 years.
@@meth3rlence possibly yeah, i mean i can only speak for my working life and im 31 so i only really noticed over the last 10 years but i certainly wouldnt be surprised if it has been 25 years or longer
Financial investment relies on stability, Brexit was the worst thing this country ever could have done for its future economic stability.
We're all a lot poorer than the 1970s. Then you could buy a house and support a wife and kids on a single average wage. Now you can barely buy a caravan and keep a budgie on a single average wage.
❤
We live in strange times. Homeless person can now own a device with more computing power than all NASA computers that took a man to the Moon in 1969 combined but cannot afford a home.
Also you didn't need to speak 20 different languages and follow certain religions to get on.
Currency debasement...
Asset price inflation, credit deregulation, money printing , stagflation ... it's all going one way
I’m glad you created this separate channel. Thanks Sasha
Well there you go! Glad people are finding it useful.
@@SashaTakesOnUK same here, love watching you poke fun at the government and summerise everything that's going on
@@SashaTakesOnUK indeed. Thank you sir
It’s excellent Sasha. Thank you. Wish you were running the economy! 🙏🏻
You do realise that this isn’t incompetence; it is deliberate
You are giving them a little too much credit there.
So what is the purpose behind it?
@ it’s not them, they take orders from their puppet masters, hence Keir Starmer and Rishi Sunak being part of Davos world leaders programme (along with many others) following set agendas
@ Total control, a totalitarian dictatorship; tax is theft, look at what your taxes get wasted on
@@SashaTakesOnUKthe BoE know what they are doing, QT to drive us into recession.
Sasha delivering the truth yet again. Gross misrepresentation in the media rn
Thank you so much!
Absolutely spot on. Just had the same conversation with a friend. All I’ve seen is “good news, inflation has dropped slightly”
The media and the government are the same people. The UK media lies for labor and the USA media lies for the democrats. I can 100% guarantee you the American media is about to 180 on the economic reporting once Trump takes office.
Because it's not true. Recession definition is 3 months not 2 in a row.
@@Dynasty1818true, do you reckon they can turn it around in the next two weeks.
I dont listen to the mainstream crap anymore telling us things are on the mend! .Every time I go to my local shop im £40 lighter on basics.Items are now half the size and twice the price. Something has to happen as I dread to think what next 2 or 3 years will be like.
Hunger games comes to mind!
you are not in a "financial downturn", you are victims of robbery on a grand scale.
Yeah but gays can get married so swings and round abouts
I don’t believe any of these numbers, I only have to travel around the UKs major cities to see that the country is in steep economic decline.
Inflation at 2.5%?
So why has my car insurance doubled, fuel bills tripled, food up 50% and mortgage 20% in 3yrs?
Most of the US data is questionable and revised downwards later when no one’s looking.
Apparently 60% of Americans couldn’t afford a $1000 emergency bill, so if the American economy is booming, it’s only the rich becoming richer.
True inflation is over 10% at least- your shopping basket will prove it to you, but the Govt or MSM will never tell the public as there will be an outcry. Only a fool will believe its 2.5% utter lies.
The reason why they are not telling us is because we would do something about it, drastic changes. The agenda is to run the country into the ground for UBI
Money printing in action. Anyone who mostly owns cash gets destroyed, anyone who owns assets will get rich.
The exact point I've been making - energy prices have doubled at minimum, grocery bills have doubled, mortgages up by 25-50%, but inflation at 10% at its peak? Nah.
From Terence Wise in UK……..The UK has been in recession since the last quarter of 2019!?
The UK is also facing brain drain, it’s the brightest and most talented people leaving very sad
While we act as a brain drain for the rest of the world. We have been taking the best doctors, engineers and nurses from India and Africa for 30 years.
@@anthonylulham3473 GDP per capita falling in relation to GDP by 2% in the last few years as Sasha highlights in the video completely disproves this. We're losing British millionaires with degrees and important jobs and replacing them with Uber drivers. All of the good immigrants are already in the West. There is no more brain to drain from the 3rd world. The average immigrant who came here over the last 3 years underperforms white Brits in every improtant economic metric, we're making the country worse in every way by importing these people.
Lots of high tech people from US want to escape the lunatic Trump.
@@anthonylulham3473 key word being "have". You no longer do. Everyone is looking for the exit because they can see that the myths of the "pound being the strongest currency" along with other myths from 30 years ago are no longer applicable.
@@patrickomalley1513 Answer this then. Is Biden any better?
So many places closing down, no one going out, loads of homeless, prices going up, wages stagnating, rain
"rain" made me chuckle a bit. If only we could control the weather
Rain , tax , piss took daily , roads , idiots , doctors appointments , i could make a list but .
@@royshaft Its not all bad when you look at the grand scheme of things, the average working class today lives a far better life than a king just three or four centuries ago
@@BenMiles-c3u I have worked since 1980 , every decade has given me more in wages , and I’m worse off .
Explain that !
Inflation is a hidden tax , and it’s about to spike again , and you Ben , my dear friend , will be richer than a king apparently.
BEEN IN RECESSION FOR A FEW YEARS ALREADY, THEY FUDGE THE NUMBERS 👀🇬🇧
100%
Literally, gdp might even increase but if money is worth less it's not a true increase
Agreed. Because spending forms a part of GDP, they just borrow and spend just enough to prevent a technical recession. Businesses are feeling it though.
Bingo 🎯
For sure if they're using the wrong inflation figures.
90% of UK citizens don't understand the value of the pound is decreasing. The spending power is shitting itself and people are contempt with a small pay rise when inflation numbers out perform it on a huge scale.
Slavery never left, it just became modernised.
We all live on the plantation now.
Always have.
Barely anybody talks about GDP per capita, and by that measure, UK is not the 6th richest country (total gdp), but in fact, 27…
To be clear, we should be talking annoy gbp per capita !!
Declining by the day as we invite more groomers on our shores
It's almost like we have purposefully impoverished ourselves since Blair took over in 1997......
Because by that definition Monaco a
and Luxembourg are richer than the United States and China...
@@mortiz20101 per person, they are.
@@mortiz20101and that's exactly why it's a better metric for assessing people's quality of life
Without cheap energy an industrial economy can Not be competitve in the Global Economy in the UK we have very expensive green energy or imported energy so we are doomed
Silly solar and wind what we need is nuclear and tidal.
Small nuclear reactors are needed but the government hasn't given RR the contract but an American company... Beggers belief.
@@PolygonSwan like the nuclear plant in Britain that is over time and budget? Every form of renewable is being invested in not just wind and solar
Green energy is cheap, its the gas prices keeping it high as everything is tied to the most expensive source as we have the dumbest energy system in the world.
Privatised energy companies will not produce cheap energy.
I feel your wage point is fine but profit growth doesn't lead to more wages as the profit goes right into the pockets of the higher ups, you can see this first hand, I've seen the ceo's wage increase wildly whilst all they've done is cut benefits of the staff, the higher ups won't listen unless theyre forced, it's pick a bad option that helps workers or a bad option that doesn't, so I'll pickthe workers every time
This guy gets it!
Then why have wages gone up in America?
@rasmussenrandy5082 in a lot of areas they haven't, but I thought it came across but I think I didn't word it well enough. That encouraging competition and increasing growth is good and will sometimes lead to increased wages, but not as much as it needs to be when were talking peoples ability to survive, the two option should go hand in hand, encourage growth whilst forcing the greedy companies to pay more than they want too
@@rasmussenrandy5082 they have to, or else the workers will just quit. If you starve working or not working, there's no point in working
Rachel from accounts. What a total ‘genius’ that woman is.
Always great content/ Appreciate your insights.
Thank you so much!!!
It feels like we've been in recession since 2008. I havent seem any growth in my town since then but ive seen plenty of places closed down and stay empty.
Hey Sasha, I really appreciate these videos with their no nonsense, straight to the point perspective. These are incredibly scary times in which we are a part of and I fear the damages have only just begun. Whilst I know from a millennial perspective things are bleak, I can't help but worry about the younger generations who are just starting out their careers or looking to get on the property ladder. As Milton Friedman said in the 90's! "The system continues to promote the myth that the private economy is unstable, while it's behaviour continues to document the reality that government is today the major source of economic instability"
I spotted that article on the BBC. Fasal Islam is massively biased to Labour. There have been many articles from him that are almost party political broadcasts.
Sasha is spot on about enforced wage growth. When the minimum wage is pushed up the money to pay those wages is coming from the middle. Causing problems because people get well paid at the start of the career but there is no jump in wages when they get promotion. So why take on the stress and extra hassle for a tiny amount of salary boost? You don’t. So productivity takes a dive because no one wants to push themselves.
My last two pay rises have been negated by the economy. What's the point in working harder?
"people get well paid at the start of the career". What planet do you actually live on? Most people are paid incredibly low wages. Wages have consistently lagged behind inflation even before the current cost of living crisis. I can tell you have never actually ever spoken to real working class people and asked about their experiences of poverty, trying to keep on top of rent, food and energy bills. Productivity takes a dive because demand does not exist. Demand does not exist because most of the working class is not paid enough to afford anything more than paying rent, food and bills. You want to run an economy based on consumption, inflated asset prices and also on low wages and then you are suddenly befuddled as to why the economy stagnates. And another thing, don't try to pull in the middle income earners into your sphere of support, if they are smart enough they will see that the same processes that have decimated the well being if the proletariat, are on their way to rob them of their wealth, next.
Been sick of the Tory whining, now Labour are failing at literally everything and barely anyone is highlighting it.
I work in architecture, no pay rises since April 23, now work out the increased costs since then. I loathe the capitalist system, waited to the employers, zero incentive to progress in some jobs these days.
Pay is a political not an economic matter, that's why rich bastards carry our earnings home in steam shovels.
Sorry to break it to you buddy. But we’ve been in a recession since 2008
We been in a state of recession since about 2008. A bit of growth up or down don't mean squat for nobody.
I'm in the food industry and it's all doom and gloom going into this year
Restaurants are taking the piss with their prices that's why.
@@Dynasty1818 im assuming restaurants are just passing the costs on. It doenst make sense for them to take the piss as then they will be shut.
@@Dynasty18183 portions of takeaway fish and chips….£53 ooosh 😮
I’m in the power industry, and when our last coal fire station closed in October, those idiots stood up and cheered in the house of idiots ( sorry brown envelope accepting ministers ) oops I’ve said it. Just waiting for the police right now 😂😂😢😢
Hopefully the food industry doesn't go under otherwise we're all in trouble.
Nice work Sasha. Best economics guy on RUclips. No bullshit, clearly explained
This entire video is a lie. Recession is 3 months of negative growth. We had 2.
Interesting house builders shares are very low. I think that tells you the market does not see a housing boom in the uk
If you increase the minimum wages without increasing the value of a job you either make that job unviable or you create an environment where business have to squeeze the most work they can out of each employee with the ones who are contributing the least being let go. Neither is a good outcome for employees.
Let's be honest, it was an attempt to get more tax revenues.
If a company can only make profit by paying it's staff slave wages then that businesses profitability is based on exploitation not generating value... Neither is the fault of the employee but the company.
@@Passionfruit1456 In that scenario the company goes bust an the employee loses their job. Is that better for the employee? The reality is that increasing the minimum wage will increase inflation and the people on the lowest wages will be the most affected. It's a vicious cycle that can only be broken by wage inflation coming through growth.
Also businesses are subsidised by tax payers as the wages and rents are topped up by the tax payer.
I wouldn't worry. Net zero and green energy almost caused a blackout last week and we're likely to see them thanks to the milliband.
I say I wouldn't worry but I would. Countries on the verge of collapse and the BBC are telling us it's all fine. Mental.
Good video
@visiblekoment they'll probably charge and tax us more
@Mr_Thinks-0k
Government spent 1 billion last year to turn off wind turbines.
The net zero scam is too obvious.
🎊 Congratulations 🥂
An important point to make is this slow collapse is all deliberate
Exactly
Why ? Whats the point
@@domefford864net zero🤔🍻👍
@@domefford864 To confirm his wild conspiracy fantasies?
@@domefford864 Enslavement. Total dependency on the state.
America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
Every day we have a new problem. It's the new normal. At first we thought it was a crisis, now we know it's a new normal and we have to adapt. this year will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned 180k savings to turn to dust
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
My CFA ““Jessica Dawn Walters "" a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Official tw&ts have not declared a recession so... we're not in a recession until they say we are.
nah mate they gaslighting as they did in the lead up to the 2008 financial crises and Brown telling everyone no more boom and bust. He ran up one crazy boom and then bus cycle.
The UK is going to be like Argentina if they keep this up.
Argies doing ok these days, were the basket case!
@@monkswhiskers3354 it took us 70 years to start being okay
The Argentine President had turned his country around. They have much improved.
@@dcoughla681 but it took us seventy years to do so. We are just now starting to turn things around. And you guys are basicly speedrunning peronism. We already learned the hard way, what these policies do and how they fail miserably. The UK should have learned from our mistakes
@@tuff9486 Argentina is expected to grow up by 5% this year due to Milei’s economic model which is not Peronism, more like Trumpism. In contrast, the UK is headed for recession, the jobs market has dried up, manufacturing & retail sales are down & productivity is dire and it’s not even April when the budgetary measures kick in. Rachel Reeves needs to go. No more excuses.
Hi Sasha. Great content, as usual. I’ve been reading and trying to understand about the Bank of England’s current QT process, and its effects/side-effects of limiting government spending. Do you have any videos on this, or suggestions for videos. I’d really like to hear your understanding about the issues around this on the UK economy. Specifically, I want to know the real reasons why the BoE are doing this now., and why it is doing it so aggressively. Thanks🙂. Any commenters on this welcome. TIA...
It definately seemed like the media was shouting its usual BS regarding the economy, thanks for clearing it up Sasha......
Great analysis
Thank you!
Hi Sasha, I’ve worked in land development before and targets are one of the few things that actually can move the dial in terms of development. The biggest barrier currently comes at the planning phase and so by setting higher targets they force local council members to accept applications as they fall within policy to meet targets. The moment that they have ample housing to meet their targets they stop accepting any more applications, increasing these target forces council members to accept applications or lose at tribunal processes.
Thank you Sasha for this beautiful information👍
So we've been in a recession for close to 2 years then!
Depending on how you look at it, could be a year now. Owner Occupier Costs have only started going up as rates went up and then there was a lag between that and mortgages renewing, so the bite came a little later after inflation.
@SashaTakesOnUK apologies, it was a statement not a question. I don't believe a single thing any government across the globe says! We all know they lie and things are upside down.
In real terms I’d argue we’ve been in a depression since 2008. We’ve never recovered from that disaster.
@@PeacockRhino yup I’d argue we are entering the ‘great’ phase about now!
Not sure why this is noteworthy, based on the statistics you have shared the UK economy has stagnated for the entire 14 months showcased (and much longer), this has been a perennial issue since 2008.
Best economic analyse channel on youtube! Excellent summary and conclusion...
All by design....UBI, CBDC, Carbon Credits will rise out of the recession....maybe a debt jubilee for govs too.
I feel like the British paupers in the Victorian era where they were struggling to eat and always sick because they were cold or eating bad food. We’re buying reduced food and struggling to pay utility bills so we’re always cold and because of that we’re always getting sick which makes it hard to work effectively. It’s not because of any other reason than this government’s harsh taxes because of their insatiable borrowing
Your health is your wealth so treat it accordingly.
Exactly Sasha GDP PER CAPITA IS THE CORRECT METRIC - WE ARE A BUSTED FLUSH
Disengaged small business owner here - economically inactive (by choice, but still drawing minimum wage). There is no incentive to try, so heads down on R&D till it all blows over...
I'd like to have a business but I don't think I ever will, I'll just work a regular job. Don't even want promotions, just more tax and work.
I'd rather wait until I get official statistics from the ONS, and use quarters which are consistent with what we've used for decades - otherwise we're pulling random dates out the air. Next we could be defining a recession as 2 months of negative growth rather than quarters. Once consistency goes out the window it makes it harder to know what to believe
Top drawer content once again... thank you Sacha.
Thanks Stuart!
Great content and style of presentation
Not including housing in CPI is ridiculous and a major reason why house prices have risen out of sync with earnings and are now increasingly out of reach for more people. 15 plus years of low interest rates haven't helped either.
Hiking minimum wage above a level that the economy can support will just end up hurting the people that it's supposed to help. I can see us heading for a cash economy. The price is this, or 20% less if you pay cash. You want a job? Okay, but its cash, £10/hour, no tax or NI, and you can still collect your benefits.
I'm sorry, but who you to lecture us on what is good for us? So we, the working class, have to consistently and continually put up with low wages, high asset prices, over-priced goods and services just to keep you happy? I assume you want yet more wage restraint for the poorest members of society, right? Just to keep you happy and wealthy? so you say making me poor makes the economy healthy? If so, why should I be in any way invested in it? Where is the incentive to work hard of you habitually insist on under-paying us? What is the point of a free market economy if it is only you and a small bunch of your rich friends that benefit from it? Are you going to tell me that at some point "the wealth trickles down"? Because only a fool would read the data from the past 30 years and say that the wealth of the working class has improved due to moneterism, then neo-liberalism.
@SOIIndsutries No, I am telling you that if an employer can't make enough money to pay a very low skilled worker minimum wage, then that low skilled worker won't have a job for much longer.
@@craptacular8282the response to this is usually if a company can't afford minimum wage its not a viable business.
The problem with that is - alot of businesses in UK run on razor margins due to the input costs (as service based economy it is mostly labour!)
Those businesses will likely bring automation in ASAP and kill off jobs.
Minimum wage policy should be more carefully managed lest you promote reducing labour and unemployment rises...
You can also disincentivise productivity growth via skill/education/promotion as the gap between skilled and unskilled labour shrinks.
Graduate £14ph/Shop worker £13ph
Lastly you reduce the consumption of services supplied by minimum wage workers - consumers start to feel/realise its costing me alot more to buy a burger out, than cook it myself (this is ofcourse always the case but it becomes more apparent)
Or conversely if you don't increase minimum wage workers enough then companies can exploit certain parts of population for cheap labour -> albeit we already do that just in other countries 😂.
I think labour has made the first mistake and now we will see..
1. Universities in trouble as it cements less reason to upskill
2. Inflationary pressures + job losses in tandem - jobs that can't be cut back or automated will get little pay bumps off the back of their poorer performing/less skilled colleagues job losses
3. Be headwinds to consumer confidence & growth
@@banksfit5302 Universities are already in serious trouble. Tory policy on visa's saw to that, they lost a boat load of foreign students. Which in turn has also done damage to a number of local economies.
@@craptacular8282If a company can only make profits due to the excessive exploitation of workers on slave wages then that company doesn't generate any value, and it deserves to go bust. Stop providing excuses for these badly run businesses.
Wages are going up just like everything else as the currency is devalued - it doesn't drive inflation; it's a symptom of it.
Businesses are outright cash cows for the government and the tax take has gone too far. It's murdering aspiration and entrepreneurship. The tax thresholds are a joke. The message seems to be: work hard, take risks and you will be punished. But it's ok, Rachel has brokered some vague deal with the Chinese. Historically the economy went very well with minimal government intervention. Now it needs lots of "managing" just to go nowhere.
Everyone in the government (any UK government) needs to subscribe to this channel.
This video grounds you to reality, the government would have you thinking nothing is wrong whatsoever
Been saying we're in stagflation for a while now. Although i dont expect the media to confirm this for me it is still ridiculous to never see it mentioned even as a potential danger. Feels like all sides are so aware of how fragile the economy and country is that they can't consider real criticism of the govt as it would in some way feed into the (inevitable) crash, and I suppose so many of the commentariat would lose their shirts.
Stagflation since 2008
Nearing stagflation since the 80s
Nice video, Sasha, but I don't agree on one point. As you said effective inflation is much higher accounting for rents and mortgages. So Accounting for assets inflation, CPIH is much higher. So the problem in the global economy are HYPERINFLATING ASSETS PRICES. I don't agree at all that wages should not grow, that would be much worse. THE REAL PROBLEM IS ASSETS PRICES EVERYWHERE AND IT'S NOT Difficult TO SEE.
Very good Sasha ! Amazing data , keep up
GDP in the US has grown faster than the UK but the national debt has also gotten. MUCH larger
It's not in a recession, they're telling you it is so they can tell you they need to tax you more and give you less.
One of the positives of starting to dabble in the markets is the parallel attention I now, but never used to, pay to the broader economy. Even my novice grasp of economics has allowed me to notice, and feel, the punches.
Thanks for doing what you do, it helps me gain fluency and knowledge.
Well stated,tell them it seems as they don’t know.
I just love your satirical take on economics in the UK.
Excellent explanation of just how stupid this government and budget.
Great job Sasha as always. Thanks for your clarity and shining a light on the numbers. The headline regarding the 1.5 million homes being built to 'save the dream of homeownership' is laughably tragic. The dream of homeownership is dead for the vast majority of those who don't already own a home. How about building homes just to put a roof over people's heads?
Building homes is always useful if the population is growing but you need. to have an actual plan beyond “just build them”!
@SashaTakesOnUK absolutely. In their term Labour won't put one brick on top of another let alone build 1.5m houses. Their 'plan' is for others to do it, without any idea of who those 'others' are. The art of delegation . . .
Could it be that they're simply doing the work of the WEF?
What's the work? To just intentionally slow everything down for no particular reason to please some lizardpeople overlords?
@@SashaTakesOnUKnet zero is actually the answer , read the reports👍🍻
It’s the stated goal to slow the economy, so the great reset and central bank CBDCs can be brought in (with social credit system) . We will be more receptive as a population to any ‘improvement ‘ from the current situation.
@@cainfamily7839 🍻🤝
@@SashaTakesOnUKthat’s exactly what they mean 🤯
Lots of 3rd world people come in and we get poorer. What a surprise.
Blue passports, pint glasses and control of borders taken back. Joined to CPTTP fastest growing part of the world. What could go wrong?
To be honest having more immigrants coming in will boost production in the UK which will have a positive effect on the UK economy which means buisnesses will then be able to actually afford wage increases instead of what's happening now and everyone will be better off...
@johnxina2361I think one very important aspect of the asylum seeking process, especially here in UK that everyone seems to completely ignore for some reason. Is that asylum seekers that are still being processed cannot work and cannot contribute to the economy at all. Under conservatives there was a massive backlog of people who simply weren't getting processed fast enough and weren't able to do anything. They weren't able to send their kids to school. They weren't able to find work. They weren't able to even leave their accommodations for any real period of time and they had to live on basically government resources which were absolute dogshit.
@cata112233 yes the ones that ARNT being processed, the ones that have are already (most likely) in the work force and the ones that do and will come in the future will also help boost the economy
I mean why do you think trump and elon are fighting for h1b visas in the US, it's because they know the more immigrants they bring into the US the better the economy looks on paper from extra work force and the better it looks for them, once the uk wraps its head around that then we will see growth
@ You have to have skills to actually be a net benefit in the UK due to the welfare system. The vast majority of migrants have low skills, and the data backs this up. We already have loads of poor people in the UK, why we mass import them is baffling.
My ground rent went up 100% ...so much for abolishing lease holds 🤮
Great video
🙏
@@SashaTakesOnUK Why are you lying to your viewers that the UK is in recession?
A recession is 3 successive periods of negative growth. We just had 0.1% growth - therefore it is not a recession.
@@harrydamien6346 Why do you not watch the video before commenting?
@@SashaYanshin I've already watched the video. You don't address this point. You're simply misinforming your viewers.
@@harrydamien6346 Literally the very first point in the video 😂😂😂😂😂
We've been in a recession since 2008 and depression more fits the bill.
I really hope Sasha makes all this stuff up. I fear he doesn't.
Would take way too long to fake all the charts every time!
When you have high wage growth the unemployment rises and the wage rises moderate.
Thank you! I hope the uk government will one day discover your videos and learn something.
I hope they are ready for some pretty interesting videos coming up on here! Got a VERY big one in the works... :)
Nailed it.
👍
Er, ... ONS website stats show
2024:
Q2 = +0.5%
Q3 = +0.1%
Q4 = Oct: -0.1%, Nov +0.1%, Dec tba
Recession is x2 QUARTERS of negative growth, not two months - and we haven't even achieved that yet because December's data is not available yet!
So, as per the correct definition, the UK is NOT in recession!
Not YET anyway!
Very informative but also saddening!
Sasha, thank you for the new channel. It's been overdue for a long time! ☕️
FINALLY SOMEONE HAS THE BALLS TO SAY IT AND THANK YOU!
Minimum wage in this country is out of control and harmful to both businesses and economy in this country.
People won’t like to hear that but it’s absolutely bang on.
Government keeping Tipex in business. Fudge those number!
I didn't know you could still buy Tipex. I used to love that stuff at school.
Thanks again for your accurate and truthful reporting on these UK figures, if only mainstream media would do the same…..
Spot on analysis. Without investing in education and business you can forget growth. The decision to spend £22b on carbon capture instead of investment is insane!
Americas gdp and economy is "doing well" if you're the top 10% who owns 90% of the stockmarket.
The average American citizen doesn't do that well...
We’ve been in recession for a while, the figures have just been bent until they won’t bend any more
We're in recession I'm all in put my money in rubber dingys 😂
I really enjoy watching your content Sasha. I like yourself have had to defend the argument for wage increases being a bàd thing. I always explain it as a zero sum game in terms of rapid wage increases generally means rapid cost increases which will generally wipe out the initial wage increases and everything is more expensive but the workers see little improvement beyond their original living conditions. Its like saying that being on life support is a healthy living. I agree that in order to cover cost increases and improve the average living standards the country needs a serious growth trajectory above 2% per annum at least for the next 5 years. Thanks for the video and keep up the great work.
He's literally misinforming you.
The UK is not in recession.
@harrydamien6346 really? What do you consider as an actual recession?
@gavinheath17 It isn't what I consider. Economists have an actual definition of a "recession" that they use: two (or sometimes three) successive quarters of economic contraction in an economy's GDP.
The UK does not meet this definition as it grew by 0.1%. Not impressive, but also not a recession.
@@harrydamien6346 in economic terms 0,1% growth is still basically a flatline. To back it up, the BoE has not even bothered to consider lowering interest rates, bond growth is extremely nominal, manufacturing data is on life support, job markets are in retraction reflecting increases in losses, retail data showed the lowest festive season sales figures in years but hey let's just focus on the 0,1% which is supposed to be an absolute victory.
@gavinheath17 It doesn't meet the accepted definition for a recession.
Is the growth poor? Yes.
Is it a recession? Not by any metric.
Scrap the minimum wage, unemployment benefit should only last 12 months and should only be given if you have paid something in. Get rid of the greenbelt restrictions.
You tell 'em Sasha
I do!
hot take on the minimum wage vs growth - nice
Great video. Lookign forward to following this channel. In my business the recession has been in for a long long time.
The following speaks volumes to me. The BBC reported on what Kemi Badenoch had to say during her first major speach. Search the BBC For 'Badenoch criticises Tory handling of Brexit'
Here is an extract from them of what she said.
Quote start.
She attacked Labour for announcing policies without a plan to back them up.
"When you haven't worked out what you are going to do in opposition, you will accept whatever you are given in government," she said.
"That's why Rachel Reeves announces mad and bad ideas on snatching winter fuel and taxing family farms."
"Those options were presented to us, time and time again by officials and we rejected them time and time again because they would hurt so many people for so little benefit."
Quote ends.
These bloody officials need to be held to account. I suspect this is the work of the civil service since they approached both parties. All because they want more people taxed to pay their salaries and gold-plated pensions. Time they are given a good shake-up. I always thought it was beyond labour to have come up with these policies.
Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️
I'm 37 and have been looking for ways to be successful, please how??
Sure, the investment-advisor that guides me is..
Mrs Joyce kim
Same i met Joyce kim last year for the first time at a conference in Wilshire after then my Life has changed for good.God bless Joyce kim
Her services is the best, I got a brand new Lambo last week and paid off my mortgage loan thanks to her wonderful services!
Excellent
Thank you!
Good one Sasha 👍 👏
Well Structured & Precise
I dream of the day when Sasha can raise a smile in his thumbnail.
Thank you for the video!
🙏
My thing with minimum wage, companies are going to go where ever cheaper, call centres to India, manufacturing to China etc. Argue with that fact as people may, it is what it is. Min wage is more of a stealth tax if anything as businesses just pass the extra costs on. There's so many problems with a high min wage it's like were do we start!
Economists are obsessed with the increase in GDP.
The government have increased GDP by employing more civil servants and spending more by issuing government bonds (debt = government deficit).
Wage growth is irrelevant; what truly matters is what your money can buy. In the 1950s, a man earning £500 a week was considered wealthy, as the average house cost around £2,000-just a few times his annual income. Today, that same wage barely qualifies as minimum pay, while the average house price has skyrocketed to over £250,000, requiring many years of earnings to afford.
Why has this happened? Over the years, governments have devalued their national currencies by increasing the money supply far beyond the growth of goods and services produced - for example, just think back to what happened during COVID. This leads to inflation, where each unit of currency buys less. The phenomenon isn’t new-Roman emperors, for example, reduced the gold content of coins to stretch their resources, resulting in a similar devaluation of money and rising prices. The lesson remains the same: increasing the supply of money without increasing real wealth (the total amount of goods and services produced) diminishes its value. IT IS NOT ROCKET SCIENCE!!!
Well said about legislating for the outcome Sasha. What is the incentive there? Punishment doesn’t help anyone.
In parts of the state sector, wages continue to increase while productivity falls. The private sector cannot keep up with this ever-increasing burden, as over-regulation, tax increases and energy price rises outstrip the profits from any increased productivity.
Congrats…from India
Nothing wrong with a recession. We need to clear out all that government malinvestment. If the government stimulates with qe or low interest rates it's going to be twice as bad
Thanks again Sasha.
Thanks for watching!