There wasn't much left of UK manufacturing before the Great Brown Recession. However, the slowdown is destroying the last sad outposts. There was a time when the UK was the workshop of the world. Soon, it will all be gone. Our economy will comprise of warehouses, supersized supermarkets, insolvent banks and the public sector.
10 comments:
More cliff-diving.
The sad fact that has not dawned on the left is that if you don't produce anything to sell to other, you can't buy anything.
Thanks to their immigration policy we now have at least 5 million more people and we don't grow enough food to feed everyone, let alone supply them with computer and wide screen TVs.
This is a problem, which will result in poverty.
I agree, production is a huge problem that spells some real trouble. Production doesn't necessarily have to be strictly manufacturing, either, but it's a good indicator of some structural problems that are going to unwind.
I think a lot of people have assumed that in the move from manufacturing to service-driven economies, finance is the important sector. But finance isn't really production, it's fundamentally exchange, regardless of how complicated or advanced it becomes. I think a lot of countries have confused the margins taken by exchange as "value added." Confused interest rates with economic growth.
Is this what they call tomb stoning?
What pays for warehouses and supermarkets ?
Never mind, we can always eat the fat people. We have an obeisity crisis too.
Don't worry, we still have our arms manufacturing industry which should experience a boom in the coming depression.
This is the scariest chart of all for me. Someone will have to produce something that we can tax to pay for all of these handouts. If the number of people we can tax continues to shrink and our handouts continue to grow, what will be the end effect?
Have you ever read Atlas Shrugged?
I've read Atlas, K T Cat.
He's not wrong. Quit the UK if you can.
There are only 3 things that create real wealth...Manufacturing, Mining and Agricuture.
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