Why has the UK economy been hit the hardest?
Discussion
Reading an article this morning about the impact of Covid on the Japanese economy it seems they have suffered a drop in GDP of about 8% (worse on record) but that seems quite good compared to the UK’s 20% drop, which is close to double the drop for other major economies.
Why has the UK been hit so hard? Something unique to the UK economy or because of how the government has handled the crisis?
Why has the UK been hit so hard? Something unique to the UK economy or because of how the government has handled the crisis?
Because the government and media scare mongering have terrified everyone, and culturally bought us to a point where the old normal such as shopping or working in offices feels risky and alien.
Then the way we are coming out of lockdowns with baby steps and all of the social distancing, one way systems, signage, track and trace, hitler customer service attitude etc making engaging with the economy more hassle than it’s worth.
Add in our shouty virtue signalling social media for a bit more of a drag on our return to normal.
I’ve been travelling around France, and apart from face masks, the towns and cities are buzzing and everyone is behaving normally. They are going to outperform our economy massively over the next year or two.
I’m really concerned for the UK right now.
Then the way we are coming out of lockdowns with baby steps and all of the social distancing, one way systems, signage, track and trace, hitler customer service attitude etc making engaging with the economy more hassle than it’s worth.
Add in our shouty virtue signalling social media for a bit more of a drag on our return to normal.
I’ve been travelling around France, and apart from face masks, the towns and cities are buzzing and everyone is behaving normally. They are going to outperform our economy massively over the next year or two.
I’m really concerned for the UK right now.
Brexit is part of it, I would guess. Compared to similar service economies, I would guess long term economic performance will pretty closely inversely correlated to number of cases. UK was harder hit for some reason. And took longer to get the virus under control. To what degree that is luck, time might tell.
But countries that got on top of the virus quick seem to have done relatively well, eg Finland, China, South Korea etc, all had smaller relative drops.
Then you have tourist countries, but not sure if comparable?
But countries that got on top of the virus quick seem to have done relatively well, eg Finland, China, South Korea etc, all had smaller relative drops.
Then you have tourist countries, but not sure if comparable?
sambucket said:
Brexit is part of it, I would guess. Compared to similar service economies, I would guess long term economic performance will pretty closely inversely correlated to number of cases. UK was harder hit for some reason. And took longer to get the virus under control. To what degree that is luck, time might tell.
But countries that got on top of the virus quick seem to have done relatively well, eg Finland, China, South Korea etc, all had smaller relative drops.
Then you have tourist countries, but not sure if comparable?
Explain how BREXIT has made it worse.But countries that got on top of the virus quick seem to have done relatively well, eg Finland, China, South Korea etc, all had smaller relative drops.
Then you have tourist countries, but not sure if comparable?
We've had a longer Lockdown than most for a start.
sambucket said:
Brexit is part of it, I would guess. Compared to similar service economies, I would guess long term economic performance will pretty closely inversely correlated to number of cases. UK was harder hit for some reason. And took longer to get the virus under control. To what degree that is luck, time might tell.
But countries that got on top of the virus quick seem to have done relatively well, eg Finland, China, South Korea etc, all had smaller relative drops.
Then you have tourist countries, but not sure if comparable?
In both Spain and the UK tourism accounts for 10% of GDP. But countries that got on top of the virus quick seem to have done relatively well, eg Finland, China, South Korea etc, all had smaller relative drops.
Then you have tourist countries, but not sure if comparable?
Esceptico said:
Reading an article this morning about the impact of Covid on the Japanese economy it seems they have suffered a drop in GDP of about 8% (worse on record) but that seems quite good compared to the UK’s 20% drop, which is close to double the drop for other major economies.
Why has the UK been hit so hard? Something unique to the UK economy or because of how the government has handled the crisis?
Because the Japanese have a deep-rooted culture of wearing masks to prevent onward infection as a consideration to others? Why has the UK been hit so hard? Something unique to the UK economy or because of how the government has handled the crisis?
I know, it probably doesn't have a bearing on the difference in GDP drop, but the mere thought will flash-boil the wee of our usual scalding-hot-piss enthusiasts.
Because our mainstream media and the 77th Brigade win the gold medal in fear mongering and whipping up hysteria to generate maximum lockdown compliance within the general population.
Now they are reaping the whirlwind after sowing the winds of panic. This level of fear is not something that can be easily switched off once it's been activated.
Now they are reaping the whirlwind after sowing the winds of panic. This level of fear is not something that can be easily switched off once it's been activated.
eharding said:
Esceptico said:
Reading an article this morning about the impact of Covid on the Japanese economy it seems they have suffered a drop in GDP of about 8% (worse on record) but that seems quite good compared to the UK’s 20% drop, which is close to double the drop for other major economies.
Why has the UK been hit so hard? Something unique to the UK economy or because of how the government has handled the crisis?
Because the Japanese have a deep-rooted culture of wearing masks to prevent onward infection as a consideration to others? Why has the UK been hit so hard? Something unique to the UK economy or because of how the government has handled the crisis?
I know, it probably doesn't have a bearing on the difference in GDP drop, but the mere thought will flash-boil the wee of our usual scalding-hot-piss enthusiasts.
Vanden Saab said:
eharding said:
Esceptico said:
Reading an article this morning about the impact of Covid on the Japanese economy it seems they have suffered a drop in GDP of about 8% (worse on record) but that seems quite good compared to the UK’s 20% drop, which is close to double the drop for other major economies.
Why has the UK been hit so hard? Something unique to the UK economy or because of how the government has handled the crisis?
Because the Japanese have a deep-rooted culture of wearing masks to prevent onward infection as a consideration to others? Why has the UK been hit so hard? Something unique to the UK economy or because of how the government has handled the crisis?
I know, it probably doesn't have a bearing on the difference in GDP drop, but the mere thought will flash-boil the wee of our usual scalding-hot-piss enthusiasts.
Japan never locked down. Whether it's down to genetics, better diet or probably just being pragmatic.
https://www.bloomberg.com/news/articles/2020-05-22...
https://www.bloomberg.com/news/articles/2020-05-22...
ChocolateFrog said:
sambucket said:
Brexit is part of it, I would guess. Compared to similar service economies, I would guess long term economic performance will pretty closely inversely correlated to number of cases. UK was harder hit for some reason. And took longer to get the virus under control. To what degree that is luck, time might tell.
But countries that got on top of the virus quick seem to have done relatively well, eg Finland, China, South Korea etc, all had smaller relative drops.
Then you have tourist countries, but not sure if comparable?
Explain how BREXIT has made it worse.But countries that got on top of the virus quick seem to have done relatively well, eg Finland, China, South Korea etc, all had smaller relative drops.
Then you have tourist countries, but not sure if comparable?
We've had a longer Lockdown than most for a start.
He clearly hasnt noticed that brexit hasnt actually happened yet in any practical way, but now its responsible for our poor performance. Another classic.
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