Quote (Prox1m1ty @ Oct 21 2022 10:33am)
I think it goes back to the UK seeking to remain globally important after WW2 and breakdown of the empire proper. They basically made London a haven for funny money. Tax loopholes and no questions asked.
It kept London relevant in the financial markets, still to this day upto 30-40% of global finance is tied to London in one way or another. That doesn't serve the majority of people well as that tax money is never seen and there is literally zero transparency or accountability.
Also I still believe its naive to expect a constant state of growth. Whether its property or shares. How is that perpetually appreciating? For property, nothing more is being added in value. Its speculative. Alas that is the marker for economic vitality.
Objectively, the UK and even England is a very decent place to live. Relatively safe, healthcare, opportunity, education, no natural disasters, no government militias, gulags or re-education camps.
So when you say, "its quite sad when you look at the state they are in" I would argue many people around the world would be intensely jealous of living standards in the UK. Likewise if people witnessed poverty in other regions they would complain far less about the life they have here.
No doubt Brexit has had an affect on the UK economy, as it has EU economies. But after only 2 years, a globabl pandemic, war in mainland Europe and against the backdrop of global inflation. Its still to early to draw any self-congratulatory "we told you so" conclusions.
i can completely agree with this, there are way worse places to be, in europe, nevermind the rest of the world.
(im not looking for a "we told you so" moment).
This post was edited by ferdia on Oct 21 2022 03:58am