Is the United Kingdom on the Road to Economic Collapse?
There’s trouble across the pond and it’s only going to get worse as winter quickly approaches.
While it’s most fashionable to talk about the dire economic situation currently taking place in the US, the situation in Europe is so much worse.
There are talks of massive energy bill hikes and even the lights literally going out across Europe. This is the product of the toxic combination of a misguided sanctions war against Russia and Europe’s decision to transition towards inefficient green energy sources.
As a result, folks across the pond are going to be in for a rough winter.
If you’re an America, you should feel safe knowing that our situation could be much worse…at least for now.
Now for residents of the United Kingdom, that’s a different story.
The UK is now facing inflation levels that haven’t been seen in decades. On top of that, energy and food prices have been soaring lately.
Liz Truss, the UK’s new prime minister, is now tasked with trying to get the country’s economic house in order.
Truss is currently proposing a plan to cut taxes (good), while raising spending (bad). It’s basically a moderate form of Keynesianism, which does not resolve any of the UK’s structural economic problems.
Instead of cutting spending and red tape, while also getting the UK’s monetary house in order, Truss’s new economic proposal worsens the country’s fiscal situation and will only further ignite inflation.
What’s taking place in the UK is not unique to the island. Most economies in the West are over-taxed, over-regulated, and feature central banks who have no regard for monetary restraint.
It’s small wonder why these countries are in such dire straits.
Will the UK be one of the first high-profile victims of the economic doom spiral engulfing the West?
Check out George Gammon’s most recent video on why there’s nothing but bad things coming to the island nation.
P.S. – The West is experiencing an existential economic crisis.
