Opinion: UK is on its way to complete economic collapse.

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Anonymous #1
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The current pandemic which has affected the economy very adversely. Millions are going to be job less and unemployed . UK has no natural resources or manufacturing and relies wholly on services and tourism (which has come to a halt due to covid). And now the PM wants to give citizenship to Hong Kong citizens, which is going to exacerbate the situation further as initially most will need affordable council housing and welfare benefits to adjust, as there arent many jobs.
Venzuela an oil rich country collapsed a few years ago. I think UK could be heading in the same direcction
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Anonymous #2
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Agree.
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anaa100
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Agree
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anaa100
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They were having problems before Covid 19, with the national debt being 85% GDP. Turning things around will be difficult
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richmkay
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Unfortunately, I have to agree, the COVID situation has pushed debt past the 100% GDP JUST!
Boris wants to spend spend spend to get us out of this... please do tell me, Mr Boris... How are we going to repay the money?
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Bahamas
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to reduce a budget deficit the most common thing to do is to raise taxes so you get more government revenue however this is only going to create more inequality as soo many people have lost jobs and/or are barely scraping by this could be very disastrous for Britain.
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Frazzle27
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(Original post by anaa100)
They were having problems before Covid 19, with the national debt being 85% GDP. Turning things around will be difficult
(Original post by richmkay)
Unfortunately, I have to agree, the COVID situation has pushed debt past the 100% GDP JUST!
Boris wants to spend spend spend to get us out of this... please do tell me, Mr Boris... How are we going to repay the money?
Spending is what will limit the economic effects of COVID and will hopefully reduce the economic impact.
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Cheesybread
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The gov has to spend in this situation otherwise effect of covid could be far worse and it can limit the impact of the recession, don't worry about debt levels.
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Anonymous #3
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(Original post by Cheesybread)
The gov has to spend in this situation otherwise effect of covid could be far worse and it can limit the impact of the recession, don't worry about debt levels.
obviously the government has to spend, people arent working/lost their jobs how are they going to pay for rent, bills, food. But this wil mean more borrowing and ultimately a country cant borrow anymore and it collapses
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Anonnorth
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Collapse .. no.
Period of struggle.. then yes of course we will.

If you think what is happening now is bad and won't get through ot then talk to your parents and grand parents about the inflation rates of over 16% in the 1980's.
About the vast debts and food shortages rationing through the war and carrying on until mid 1950's ..
... and about the vast unemployment between 1929 and 1937 with nearly 20% unemployed leading to the Jarrow March.

Yes it will be hard at times for a while and harder for some than others but total collapse then no.
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Anonymous #3
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(Original post by Frazzle27)
Spending is what will limit the economic effects of COVID and will hopefully reduce the economic impact.
spending on borrowed money, money that may not be able to be paid back, But obviously other countries have it worse and are going through the same thing
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Anonymous #3
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(Original post by Anonnorth)
Collapse .. no.
Period of struggle.. then yes of course we will.

If you think what is happening now is bad and won't get through ot then talk to your parents and grand parents about the inflation rates of over 16% in the 1980's.
About the vast debts and food shortages rationing through the war and carrying on until mid 1950's ..
... and about the vast unemployment between 1929 and 1937 with nearly 20% unemployed leading to the Jarrow March.

Yes it will be hard at times for a while and harder for some than others but total collapse then no.
yes but covid 19 has shown the problems of globalisation, borrowing money and a lack of sufficient healthcare equipment (ventilators/drugs)
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1st superstar
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My opinion is that people shouldn't be abusing the anonymous feature also es I think that the UK's economy could collapse because of COVID-19 and Brexit
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Frazzle27
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(Original post by Anonymous)
yes but covid 19 has shown the problems of globalisation, borrowing money and a lack of sufficient healthcare equipment (ventilators/drugs)
Uhm, no.

There is nothing wrong with borrowing money. When we borrow money, it is usually through government bonds which in a roundabout way (through interest) helps the population.

The UK had enough ventilators, we never ran out and I believe we made too many at the beginning; preempting the large demand.

"sufficient drugs" is meaningless. Not having a drug for a new coronavirus =/= not having sufficient drugs. It's a new virus, developing effective ways of managing it takes time. After just 7 months of knowing this virus exists, we have already developed better treatments and protocols (dexamethasone).
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999tigger
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(Original post by Anonymous)
The current pandemic which has affected the economy very adversely. Millions are going to be job less and unemployed . UK has no natural resources or manufacturing and relies wholly on services and tourism (which has come to a halt due to covid). And now the PM wants to give citizenship to Hong Kong citizens, which is going to exacerbate the situation further as initially most will need affordable council housing and welfare benefits to adjust, as there arent many jobs.
Venzuela an oil rich country collapsed a few years ago. I think UK could be heading in the same direcction
Why do you need to hide behind anonymous to post such drivel?

Yes we are going into a recession like most of the world.
Yes the UK manufactures and does not rely wholly on services and tourism.
We are not the same as Venezuela.

Why should anyone pay any attention to what you claim?
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Gundabad(good)
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(Original post by Anonymous)
The current pandemic which has affected the economy very adversely. Millions are going to be job less and unemployed . UK has no natural resources or manufacturing and relies wholly on services and tourism (which has come to a halt due to covid). And now the PM wants to give citizenship to Hong Kong citizens, which is going to exacerbate the situation further as initially most will need affordable council housing and welfare benefits to adjust, as there arent many jobs.
Venzuela an oil rich country collapsed a few years ago. I think UK could be heading in the same direcction
Venezuela is a completely different animal. Decades of corruption and inflation coupled with an over-reliance on oil (90% of its exports were oil) destroyed the economy since 2013. The UK won't get to that stage, however the economic downfall will be twice as bad as the 2008 Financial Crash.
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avacavil
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(Original post by 1st superstar)
My opinion is that people shouldn't be abusing the anonymous feature also es I think that the UK's economy could collapse because of COVID-19 and Brexit
yes the multi billion withdrawal bill they are going to pay is so much
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Diplomatic
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(Original post by Anonymous)
The current pandemic which has affected the economy very adversely. Millions are going to be job less and unemployed . UK has no natural resources or manufacturing and relies wholly on services and tourism (which has come to a halt due to covid). And now the PM wants to give citizenship to Hong Kong citizens, which is going to exacerbate the situation further as initially most will need affordable council housing and welfare benefits to adjust, as there arent many jobs.
Venzuela an oil rich country collapsed a few years ago. I think UK could be heading in the same direcction
If you're suggesting that millions of people from HK will take advantage of the slight improvement in rights, no. Very few people are expected to take advantage of this in terms of settling in the UK.

Also, suggesting that natural resources are something to fall back on for other countries when we live in a period of service sector and digital dominance is unwarranted. When the global economy recovers, as it is starting to now relative to where it's been, the demand for service sector roles like consulting could possibly rise because firms are rife to change/pivot/evolve now more than ever which demands experts.
Last edited by Diplomatic; 4 weeks ago
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barnetlad
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Complete collapse, no. A recession and the loss of over 2 million jobs and perhaps more, I think will occur.
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Napp
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Why do you feel the need to post this under anon? :lol:
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