Comments on: Britain’s strength is its weakness http://blogs.reuters.com/anatole-kaletsky/2013/02/14/britains-strength-is-its-weakness/ Sat, 03 Jan 2015 16:42:55 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: jledbet http://blogs.reuters.com/anatole-kaletsky/2013/02/14/britains-strength-is-its-weakness/#comment-783 Thu, 14 Feb 2013 23:00:36 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=273#comment-783 I read with interest the column article by Anatole Kaletsky on the UK and the GBP published today (Feb 14).

I agree with the general view that Mr. Kaletsky espouses. There are additional risks to the economic future of the UK that merit attention as well.

Regarding the “recession” in the UK, on the socio-political front I’m sure that the UK government has issued an edict to its members to never utter the word “depression” so as not to panic the masses. The fact remains that the UK is in the longest depression in its lengthy history, and is expected to remain so until at least 2015. This seven year (or possibly longer?) period would make the Great Depression of 1930-34 seem like a short-lived dip in the road. (see http://www.niesr.ac.uk/pdf/070213_150917 .pdf )

A further concern adding to the economic uncertainty is the possible breakup of the UK if Scotland separates, which it very well might do. I have observed this type of regional, unique-culture based separatist fervour in Quebec, which once voted by a narrow 51% to stay in Canada. The risk of this cast a pall over investment and economic growth in Canada for years. Scotland appears to share several traits with the Quebec sovereignist psyche.

The second item of concern is a referendum on remaining in the EU. Once the UKIP make it widely known by UK taxpayers that they pay approximately GBP 217 million per week (net of rebates, and rising) to run yet another level of government in Brussels, that not only does answer to them but often irritates them, the referendum vote might be a very loud NAY.

When viewing these matters in conjunction with the issues raised by Mr. Kaletsky, the outlook for the UK economy, and the GBP, looks grim.

John Heaven

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By: krimsonpage http://blogs.reuters.com/anatole-kaletsky/2013/02/14/britains-strength-is-its-weakness/#comment-781 Thu, 14 Feb 2013 17:34:54 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=273#comment-781 Not very well written.

The main culprit is China. She is the one who faces the very real economic war cloud. She has lost her mind, and her soul, in doing business with the West. The only people who have benefited from this madness are the same greedy people that Cameron sucks up to.

The employment situation in GB is abysmal, and yet its MARGINALLY better than the rest of Europe. Many Greeks and Spaniards and Poles find some work in England. Europe is ripe for serious revolt, Mr Kaletsky.

This author should start writing fiction.

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