{"id":60066,"date":"2021-10-23T17:09:07","date_gmt":"2021-10-23T22:09:07","guid":{"rendered":"https:\/\/olduvai.ca\/?p=60066"},"modified":"2021-10-23T17:09:07","modified_gmt":"2021-10-23T22:09:07","slug":"closer-to-the-edge","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=60066","title":{"rendered":"Closer to the edge"},"content":{"rendered":"
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Closer to the edge<\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n
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There may well be worse to come.\u00a0 With the end of the various government support schemes, redundancies have shot up once more.\u00a0 According to the BBC<\/em><\/a>:Earlier this year when the establishment media was running fear stories about\u00a0excess savings<\/a>, the opening up of the economy was predicted to result in a massive consumer boom.\u00a0 It didn\u2019t happen.\u00a0 Rather, as happened in the summer of 2020, people emerged from house arrest in need of a haircut, some new \u2013 mostly larger \u2013 clothing, and a thirst for a pint of beer down the pub.\u00a0 Once these desires had been sated, most returned to their homes and continued with lockdown spending habits that have now become ingrained.\u00a0 Not least because, while a small minority at the top may have accumulated \u00a3125bn in savings since the first lockdown, the majority of us had been running up\u00a0even more debt<\/a>.\u00a0 The people with savings were hanging onto them while the crisis continued.\u00a0 Everyone else was unable to consume anyway.\u00a0 And so, after a brief rally in July, growth fell in August.\u00a0 Today the UK economy is officially still\u00a00.8 percent smaller<\/a>\u00a0than at the start of the pandemic.<\/p>\n

\u201cThe number of businesses that failed in England and Wales last month was the largest since the Covid pandemic began.\u00a0 Company insolvencies in September totalled 1,446, increasing from 1,349 in August and 56% higher than the same month last year, data from the Insolvency Service shows\u2026<\/em><\/p>\n

\u201cThe Bank of England earlier this month said one third of small businesses in the UK are classed as \u2018highly indebted\u2019, where their debt levels are more than 10 times their cash balances.\u201d<\/em><\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Closer to the edge There may well be worse to come.\u00a0 With the end of the various government support schemes, redundancies have shot up once more.\u00a0 According to the BBC:Earlier this year when the establishment media was running fear stories about\u00a0excess savings, the opening up of the economy was predicted to result in a massive […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,31147,260,379,607,31360],"class_list":["post-60066","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-consciousness-of-sheep","tag-employment","tag-government","tag-pandemic","tag-tim-watkins"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60066"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60066\/revisions"}],"predecessor-version":[{"id":60067,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60066\/revisions\/60067"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}