Business UK
UK Economy Shrinks | ‘Interest rate rises NEVER SHOULD HAVE HAPPENED’ Dr Roger Gerlwolb’s analysis
‘A lot of the problems we have could be resolved in an afternoon or a week and for some reason, they never seem to be.’
Former adviser to the BoE Dr. Roger Gewolb says the interest rate rises are the ‘biggest problem for the economy’ which he argues ‘never should have happened.’
#GDP #interestrate #interestraterise #ukeconomy
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Business UK
‘PATHETIC’ Establishment CLUELESS as Britain hurtles to economic DISASTER: Justin Urquhart Stewart
Justin Urquhart Stewart says the main parties in Britain: Labour and the Tories’ knowledge on the economy is ‘pathetic’, while …
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Peter Bleksley discusses a spate of crime in Middlesbrough.
#middlesbrough #crime #police #uknews
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Business UK
Andy Burnham’s public spending plans will BANKRUPT Britain – the public will HATE his only solution
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Patrick Christys delivers a damning monologue claiming Andy Burnham’s borrowing and spending plans will bankrupt Britain.
In his PMQs debut, Prime Minister Andy Burnham defended his economic strategy against a backdrop of 18-year high national borrowing costs.
Facing sharp questioning from Tory leader Kemi Badenoch regarding debt management and budget cuts, Burnham attributed current market instability to the structural vulnerabilities inherited from the previous administration.
Stepping into the role following Sir Keir Starmer’s exit in July, Burnham told Parliament his leadership would balance rigorous fiscal rules with targeted relief for the public’s rising cost of living.
#andyburnham #tax #economy #parliament
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‘If we lose Britain, we lose Europe.’
Director of the Margaret Thatcher Centre for Freedom, Nile Gardiner, hits out as mass migration into the UK, and says the ‘United Kingdom is at the heart of the defence of Western civilisation’.
#gbnews #uknews #immigration
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Business UK
Middlesbrough LATEST: Patrick Christys sends POWERFUL message to residents and Andy Burnham on crime
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‘Get a grip of this now otherwise any remaining shred of hope that there is still law and order in Britain will disappear forever.’
Watch as Patrick Christys sends a powerful message to the residents of Middlesbrough and Andy Burnham amid fears of gang warfare.
#GBNews #UKNews #Middlesbrough #BreakingNews #England #English #Town #LatestNews
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@ncooper8438
January 7, 2024 at 6:20 am
Interest rates should never have been reduced to near zero, that's where the problem is!! It was a desperate move by the boe which failed to boost the uk economy and was done for idealogical and political reasons by Carney.
@colinraines395
January 7, 2024 at 6:20 am
Get rid of Sunak and Hunt AND DO IT NOW
@stephenfaulder1747
January 7, 2024 at 6:20 am
Does the Bank of England not distinguish between:
(1) Inflation on essential products (eg fuel & food)
. . . and . . .
(2) Inflation on non-essential products?
In the late 1980s, the economy was 'overheating', with many people earning vast sums of money and borrowing even more to buy 'everything in sight'.
As people had a choice about buying such 'non-essential' products, the raising of interest rates did, in fact, discourage borrowing and spending.
This, in turn, reduced the demand on the 'non-essential' products and prices fell, as a result.
The current situation is very different!!
The driver of the current inflation is higher prices of fuel and food (essential products).
By definition, people have no choice but to pay the extra for these 'essential' products.
Raising interest rates can, therefore, have no significant impact on spending on 'essential' products!
It will only serve to take even more money out of people's pockets, leaving them with less to spend on non-essential products . . . the consequences of which will be:
(1) Businesses based on non-essential products will have less trade, causing them to . . .
(2) Require fewer staff, causing . . .
(3) An increase in the unemployment rate, which will . . .
(4) Reduce productivity and . . .
(5) Increase the Government's benefits bill
The cost of many non-essential items will come down, due to a lack of demand (people struggling to afford them due to their 'forced' higher spending on 'essential' food and fuel), compounding the above consequences.
Surely, raising interest rates in this economic climate is counter-productive and will simply drive the economy into the ground!
This is my perspective.
If I'm wrong, maybe someone would be good enough to explain why.
I thought this may be a good place to ask the question.
So far, I've found no meaningful rationale to support the raising of interest rates in the current economic climate. 😕
@jacobfield4848
January 7, 2024 at 6:20 am
Inflation is caused by high energy prices and will be lowered when and only when energy prices come down.
@twenty3_co_uk
January 7, 2024 at 6:20 am
4 minutes in. Yes we have food inflation and yes we have energy inflation but it doesn't stop there. Wake up mister is inflation cost of materials? Cost of services Please tell me what was cheaper last year than this year..
@dangermann7460
January 7, 2024 at 6:20 am
This guy is clueless, inflation is caused by money printing.
@Avidcomp
January 7, 2024 at 6:20 am
The guy doesn't know what he's talking about. How is someone like this in the position he's in ?
@chrishart8548
January 7, 2024 at 6:20 am
I want interest rates to just keep going up. Im hoping we get to 18% the would definitely sort the inflation out.
@traintomorrow
January 7, 2024 at 6:20 am
I disagree inflation is going to go down itself there are high oil prices, we import all our goods , shopping bills are through the roof !
@traintomorrow
January 7, 2024 at 6:20 am
What we need is the war to end quickly haven't they killed enough people they need to settle this amicably and for good and oil prices which are also firing inflation to stiop affecting prices
@traintomorrow
January 7, 2024 at 6:20 am
The problem with the Economy is this if you don't put up interest rates , you will get soaring inflation we are an island state now more than ever we import. To crush inflation completely you nred to higher the pound , however, that would in turn crush mortgages and business investment, and you cant borrow now as we areone hundred % of GDP . So its a balancing act
@billybunter5575
January 7, 2024 at 6:20 am
why is it no one talks about the trillions the pharmacautical companys get from the tax payers and charge the nhs extortianate prices for there drugs and yet hardly pay any tax towards the economy whats going on with these big coporate crooks especially when they test there drugs out on poor african familys .
@radicaljohn1
January 7, 2024 at 6:20 am
This guy is a proper economist.
@radicaljohn1
January 7, 2024 at 6:20 am
No amount of interest rate rises will combat sunak’s Inflation program.
@filkey762
January 7, 2024 at 6:20 am
Where is he looking!?😅
@monkeyboy8424
January 7, 2024 at 6:20 am
Wasn't billionaire fishy Rishi Sunak in charge of UK finances prior to his current position? – Not my PM.
@alanpotter3146
January 7, 2024 at 6:20 am
Brains of rocking horses.
@carlcollins6659
January 7, 2024 at 6:20 am
Useless, incompetent, WEF, BOE. It's all about wrecking the £ to wheel in Global Banks and digital currency.
@rockinghorsepooh
January 7, 2024 at 6:20 am
Trying to bring us into the cbdc by crashing the economy
@TheCyclist19
January 7, 2024 at 6:20 am
This is nothing compared to what is coming down the track, unfortunalty our economic model us unsustainable. Our economy is built on debt with most people buying on the never never. Everything is so expensive now, adding in the interest rate rises, costs of renting, mortgages and stagnant wages the economy hanging by a thread. It is just a matter of time until it all comes crashing down!!
@Lsnh6299
January 7, 2024 at 6:20 am
Feedback: please don’t start this conversation assuming that the viewer doesn’t understand this or have an interest in these ‘statistics’. The uk media perpetually underestimates its audience, its preposterous
@lizm4580
January 7, 2024 at 6:20 am
Watching the UK crumble….
@stevenaustin8274
January 7, 2024 at 6:20 am
So it didn’t shrink overall it very slightly grew ! Therefore the headline is misleading
@paulb1034
January 7, 2024 at 6:20 am
What a joker, we have energy and food inflation because the pound has been devalued with ultra interest rates and BoE QE over many years, reversing both of those will put some value back into the pound and lower the cost of imported commodities.
@iguiste23
January 7, 2024 at 6:20 am
The Banks are being run by self important lunatics!.
@DJLalr
January 7, 2024 at 6:20 am
Whats wrong with Dr Roger ? Why is he not looking at the presenters ? He seems to be reading a script. Is he like an AI version of Dr Roger ?