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INFLATION in the UK is currently around 10% and INTEREST RATES have risen rapidly since the start of the UKRAINE WAR. The New PRIME MINISTER recently announced a $150 BILLION ENERGY PRICE CAP and $59 BILLION of TAX CUTS. The International Markets have reacted negatively to these Policies and the Value of the BRITISH POUND has fallen to RECORD LOW against the Dollar. In this video I look provide more details on recent events and discuss what is likely to happen in the UK and what impact this will have on the GLOBAL ECONOMY.
For specific details please check out the CHAPTER list below.
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Chapters:
0:00 Intro
2:24 UK
4:53 ENERGY PRICE CAP
6:46 TAX CUTS
7:30 POUND
10:16 INFLATION
12:09 INTEREST RATES
12:52 UK DEBT
14:56 10 YEAR GILT
17:00 IMPORTS
19:12 EXPORTS
20:29 SUMMARY & CONCLUSION
#ukraine
#uk
#russia
#learnenglish
#learnenglishspeaking
#inflation
#GLOBALFINANCIALCRISIS
#RUBLE
#SWIFT
#RECESSION
#CHINA
#USA
#NATO
#WW3
#WORLDWAR3
7:30 business plan:
1) borrow ££££
2) use £ to buy $
3) ???
4) PROFIT!
you know what i hate most on all this developments over the last decades.
when you see the meta picture: tax cuts for the rich (aka attracting big capital) is not an economic tactic to grow the economy but it is a SHELL GAME SCHEME (!!!!!) destroying the stability of all those nations.
including the uk. and this simpleton on heading the conservative party just flips the pearl in the next shell and does nothing more.
thats the extend of substance of our leaders who supposed to be the best managers, but degraded to servants toward themselves and big capital!
you posted the value of the pound.. the logic from thatcher towarts truss.. the vision of simpletons who just dont see when they are used! all timid actors, unable to ask the bigger questions!
Brexit Broke-it ?
Hope you’ve been doing well, Joe! Been awhile since I’ve commented but rest assured I still watch almost every single one of your videos. Great stuff as always 😁
$32, 000 weekly profit Our lord Jesus have lifted up my Life!!!
energy is the economy
If I understand it correctly there is a difference in the way the BOE and the FED set interest rates on Bonds. The FED sets in by auction to a few major treasury bond dealers who mostly control the market. It sounds like the BOE arbitrarily sets the rate and there is no auction?
Liz truss is the worst pm of the month and bojo was the pm before liz. What a amazing job 😂
should have followed the Trump blueprint…..but at least no more mean tweets
Joe you didnt mention that the markets were expecting the borrowing for the energy price cap and were ok with it as it was seen as short term, the markets went into meltdown from the tax cuts because it was totally unfunded ongoing borrowing with no plan except the hope that it would grow the economy…this was a fantasy and shocked the markets…the markets were also jolted by the goverment policy being at totally opposite poles to the BOE policy….they therefore rightly saw the government as a "doomsday cult" not my words but UBS and other economists.
Jo, FYI UK produces c50% of own gas from the North Sea and has no Russian gas if our Govt can be believed. Petrol is now below immediate post Covid prices. Issue is our EU trade since Brexit has fallen off and 33% of EU exporting companies no longer export. Our new Free Trade Deals have been poor. Labour costs ae up with no productivity improvements merely caused by 1 million EU workers going home. Sadly my country is in deep shite with only Putins Russia in deeper poo!
The UK is fu cked the UK needs to end Westminster needs to be sacked
The economic problems predicted from Brexit did not materialize? Your joking!
I bet Britain wished it had a strong currency like Russia.
Worlds worst economy in terms of volume is British economy.
Books are fudged and so is the currency
Excellent report. To save the economy we need to get rid of this corrupt and incompetent Tory government. Unfortunately it will be nearly two years before the next general election.
Joe, good analysis although your hop and skip over Brexit might just be underestimating it's longterm impact a little……
Very good assessment… A big warning sign that things will go worse, is the failed treasury bond sale this week….
Thanks for gathering all that information and explaining it so clearly.
Very well presented.
It would seem to me that for years now countries around the world have been printing money as if it has no consequences and now it's time to pay for the stupidity.
India is now the 5th largest economy in the world. They overtook UK some weeks ago
Im sorry my U.K. Fellows…A PM that believes in a trickle down economy that has proven to be a disastrous mistake in the past. Remember Reagan and Thatcher.
One reason that the budget is causing investors to pull out of the UK is the working class will revolt. The tories have advised big business to cut pay, due to this I'm on strike for 4 more days next month(have done 4 already).
Their mini budget has cut taxes for the rich and those that can afford to buy properties. It will not help first time buyers much.
So now millions that are stuck in the expensive rental trap will have pay cut in real terms, much higher than inflation energy bills. Higher than inflation rent rises due to interest rate hikes.
The wealth landlords can buy more properties at lower Stamp duty rates with all the tax they are saving.
Just write youtube and tell them there people promoting right wing content by sending people their WHATSAPP number in the comment section and they will disappear down the memory hole quicker than you can blink . YouTube would open a special task force and bring In the fbi
What about service exports? How does that impact the UKs trade position?
We should get loads of business I suppose, at least. shrugs-shoulders We are in an economic war which might turn into a real war. What do people expect? Boomtown? We'll endure like we always do.
Just serves to show we should have been pushing to remain self sufficient in gas and oil and not encourage an environment whereby its cheaper to import energy. We're going to pay a heavy price for the stupidity of being tied up with the EU's energy strategy. It may be early days but it doesn't feel like recession all the while we have pretty much full employment.
Gilts is 4% 🤔
Hey Joe, I live in NZ do you think the UK will never rejoin the EU?
Think we should also mention the UK has the lowest debt/borrowing in the G7,
I appreciate the clear explanation of what is going on in my country. Also it was nice not to hear any barbed comments regarding the political characters or decisions. It's easy to poke at them but I think you did a great job of sticking to the facts and explaining the ramifications.
Please don't read every last bit of information from the sheets. This results in endless repetition. Only the most significant, please. We are quite capable of reading ourselves.
India is Fifth largest now UK is sixth