How the UK is becoming a ‘third-world’ economy

#Britain has slumbered and stumbled its way through a number of setbacks. Now, the #crisis has become endemic with no quick fix in sight.

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[singar_]

As someone rightly said: "From an empire where the Sun never sets, to a small little grumpy island where it never rises”, Britain has come a long way!!

[grzegorzswist]

If any Brit thinks about doing plumbing in Poland, we are open for business.

[JesusLeee-ir]

in UK Sadly, banks continue to stumble, mortgage rates is on the rise with higher imports and lower exports, yet the FED is to lessen cost. So, where do we grow and safeguard our money now? something will eventually break if they keep raising interests and quantitative tightening.

[urbanyeti]

As someone who lives in the UK the decline of living standards and the general slide in the state of this country in the last 10-15 years is shocking

[Stealth]

Turns out not producing anything nor providing any services isn't good for the economy, who'd'ave thunked it?

[APRCraig]

Im a Welshman in Finland and I can say just one thing that sums the UK up for me atleast.
Taxes. Here in Finlan taxes are insane, but.. you have clean streets, snowclear every time it snows, nothing is broken, everything works and people are happy.
UK is falling apart even with high taxes.

[theTeslaking]

The situation is worse in the United States, where our economy is struggling to survive like a flailing fish. The U.S. economy is truly in a very poor situation right now. As a result, it experiences convulsive spasms and desperately tries to develop in whatever manner it can. Tricks, gimmicks, and rule changes are all attempts to boost the economy and keep it from collapsing, but they only provide short-term respite to people because inflation causes us to decline.

[markj.a]

When I lived and worked in Japan I didn’t mind paying taxes because I could see the benefits.
I rented a decent place, had a car and was able to make purchases like a new bike / PC without worrying.
I did t even need to bother looking at my utility bills because they were so cheap.
Back in the UK, I pay more taxes yet the streets look like they have been bombed. The once beautiful town centre is covered in chewing gum, litter and stench. I have to pay private to get accessible healthcare and the police do nothing to punish criminals ruining our society.
I have a slightly higher salary yet I actually have to budget way more here.

[bitbucketcynic]

During feudalism 10% of the population had 90% of the stuff. We're almost back to that.

[jerrycampbell-utyf]

Uncertainties, worldwide swings, and the aftermath of the pandemic are all producing instability in the economy. All sectors must give rising prices, slow growth, and trade disruptions immediate attention in order to boost growth and restore stability.

[lfmsimoes]

I am a Portuguese engineer who worked in the UK between 2012 and 2015.
In my opinion, one of the root causes for the UK's lack of productivity stems from the excessive influence of the financial sector, who just "makes money from money", without producing anything tangible and tradeable, drives the cost of living up, makes it very difficult for industries to be competitive, and attracts too much young talent who go to study in management degrees, instead of engineering ones...

[danr]

It's a country that's been asset stripped to the bone.
For the last 15 years we've exclusively taken the option that generates the most money short term, without any idea for the long-term.

[wallacewarlover]

God that’s the greatest insult, to be compared to Mississippi you must have severely screwed up.

[tonysilke]

I’m looking for opportunities to profit in a potential downturn, According to rating agency Moody’s, both the UK and the US are set to fall into a recession because of higher interest rates.

[magefixler]

This is what happens when the political class/oligarchs hold their people in complete contempt. It’s not even indifference it’s malevolence.

[rodstawaa]

Northern Ireland here. When I was young we used to laugh at how poor the roads were in the Republic of Ireland 😆. Now their roads are immaculate and ours are abysmal. That’s just one example of what’s changed in 20 years.

[eddiem]

As someone who use to live there, these issues were visible 15 years ago but people ignored it.

[yyy-btbo]

An unhappy era when each other consumes each other's misfortunes. People all over the world are no longer in their right minds

[rnbpl]

As a third worlder living in London I have to say the UK is most definitely NOT a third world economy. People mostly own their homes in those.

[madleon]

UK has the worst of capitalism and worst of socialism 😂