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That and money printer go brrrrr
Not right now. Fed rates are high at the moment, which is why mortgages have a 7% interest rate.
The US is just putting everything on the big credit card.
Just don’t look at the man behind the curtain in the US lol
Excuse you, that is THe wizard of Oz, he has an arts history degree and is working as a manager for a cool 22$ an hour with no extra vacation, his benefits package is shit, lives with 4 other people in a too small house in a questionable neighborhood, and drives a shitbox. Clearly he’s doing his job out of the pure goodness of his heart! He’s just living his American Dream!
Millennial consumption is the USAs saving grace. Japan and UK don’t have an equivalent population of late 20 to 40 something’s to boost consumption.
That is the core problem for the West. There are no Western countries that have an equivalent Millennial population to boost consumption. This means is the US falters there is no one else to drive growth.
Mexico and a few other BRICS (Not China or Russia) are some of the few countries that are economically advanced enough and have a large young population. But they are either not integrated enough or not advanced enough economically to make a difference.
That is straight up incorrect.
UK millennial population is 21.47%
US millennial population is 21.67%14,391,255 in the UK
72.24 million in the US
That percentage doesn’t mean much when there are 400% more people buying things.
You’d care about relative proportion of the population, not absolute.
A recession is defined by relative change in the size of the economy, not absolute.
Percentage doesn’t equate to the actual number of people, though.
Economies scale.
In the UK, a tiny majority voted to “take back the country”, or Brexit. Immigration plummeted and newer migrants left, leaving huge gaps in workforce. We drove up prices by leaving the biggest buying group possible because (insert old time Empire music for irony), we think we’re still an Empire and can negotiate better deals as a tiny island of 70m than a collective of billions. Oh, and that tiny majority believed that we’d have £millions more per week for some insane reason. Crikey, that was therapeutic to get off my chest.
I remember the Brexiteers always talking about setting up a free trade deal with Canada. This seemed to be the only country they were talking to on trade deals. Lo and behold this posted less than a month ago: UK/Canada trade talks collapse
Except it wasn’t a tiny minority. Hell, it’s not even a tiny minority now! Even with all this, people will take this decision to their (earlier) grave saying it was the right thing.
We know why the U.k. slipped into recession…Brexit.
Did any of you read and understand the article?
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