The UK economy is in dire straights. High inflation, low growth and rising debt. Since 2007, productivity has slowed down, leading to lost output and one of the worst growth rates in the OECD. The brunt of the slowdown has been felt by average workers, who have seen an unprecedented fall in real wages and …
Since 2008, the US economy has grown at double the rate of the UK economy. Since Covid, the UK is stagnating whilst the US has grown strongly. Despite much faster growth, inflation in the US is dropping fast, whilst the UK seems stuck with high inflation and the worst of both worlds. Why is the …
We face multiple housing crises all at the same time. Mortgage rates are soaring, yet renters face a broken market for years with rising rents and a shortage of properties. Buying is out of reach for many, but renting is just as bad. There is a growing division between an elder generation who have paid …
The economist recently warned that governments are living in a fiscal fantasyland, failing to confront dire and growing levels of debt. High inflation and rising interest rates have caused a surge in debt interest payments. By next year, the UK’s debt service payments will be similar to the entire education budget. It is a similar …
It’s not a good time to be a member of the Monetary Policy Committee. Inflation far exceeding forecasts and the Bank was forced into something of a u-turn belatedly increasing interest rates in a shock-and-awe tactic designed to regain credibility. Some critics argue the recent interest rate rises are like using a sledgehammer to crack …
With mortgage rates soaring, and with the most pessimistic forecasts that house prices could fall by up to 35%, does it make sense to wait until after the current housing crisis has eased before buying? There’s no simple answer because it depends why you are buying and where you live. But, the housing market is …
This week 2 year fixed mortgage rates rose above 6% – the highest level since Liz Truss’s mini budget of September. Why is UK Facing a New Mortgage Crisis?Watch this video on YouTube It threatens to add an extra £2,500 a year to the average mortgage. By next year, total mortgage payments could be an …
Is the UK Heading for a Pre-Election RECESSION?Watch this video on YouTube Last year, the Bank of England made a very gloomy prediction for the UK economy – a deep and prolonged recession. They were wrong, the UK avoided recession and grew more strongly than some expected, but the downside is that the Bank of …