The British Economy Too Dependent on an American Slop Scheme
United States Government debt will soon eclipse 40.5 trillion dollars compared to 20.2 trillion less than 9 years ago:
I often find solace in the fact that the problem is global or international or "cross-national" (one economy impacts the other/s). It's not a UK thing, it's also an American thing and I hear the same from friends in the EU. Lots and lots of stores are shut. For good. Shut down. Some are still there, they exist in a sense, but they don't even open their doors during office hours. So I assume they're unofficially dead. Maybe they pray for some rescue plan. I saw many such stores yesterday as I cycled for 3+ hours. Lots and lots of dead businesses, even in lucrative areas or places where rich people (or people who take big mortgages to feel rich) live.
The US economy tanking is not a US problem; it's a global problem because of ripple effects. For instance, many UK pensions are tied to a largely American pyramid scheme of "hey hi" [1, 2]. Whatever they call it - be it "magnificent seven" or "Big Tech" or GAFAM or FAANG - won't matter. In Microsoft's case, they've given up trying to hide the pain or kick the can down the road (until the next quarter).
What happened over a decade ago in Greece and Cyprus can happen next in Turkey, the EU, and the UK. █
