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This compilation of financial-related insights includes videos from Gregory Mannarino, Heresy Financial, The Atlantis Report, and Tech Revolution.
Gregory Mannarino says major banks are in trouble losing hundreds of billions in withdrawals. Heresy Financial discusses why history is repeating but this time is different. The Atlantis Report explains why everyone is wrong about the global debt crisis. Tech Revolution brings news of why UK’s economy is crumbling and how it’s a huge warning to the global economy.
Gregory Mannarino
Aug 7, 2023
LIVE! MAJOR BANKS IN TROUBLE… LOSING HUNDREDS OF BILLIONS IN WITHDRAWLS. Mannarino
Heresy Financial
Aug 7, 2023
The most terrifying phrase you could ever hear in financial markets is this time is different. Today, interest rates are skyrocketing, but they’ve been here before. Today, the debt-to-GDP ratio is near 120%.
But it, too, has been here before. Mortgage rates, inflation, unemployment, and bank failures. The list goes on and on.
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For every macroeconomic factor that seems to forecast doom and gloom.
The Atlantis Report
Aug 7, 2023
Is the global debt of over $300 trillion really a problem? And does debt for the global economy work in a different way from debt on an individual level? In this video we’ll explain who holds all the debt that countries and businesses owe, and whether this will be a big problem in the near future.
Tech Revolution
Aug 7, 2023
In the ever-changing landscape of the UK economy, uncertainty and hope intertwine, leaving us questioning the path ahead. From a rocky start to surprising upward revisions, the UK’s economic journey has been filled with twists and turns.
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The International Monetary Fund’s predictions took a dramatic turn, as the UK’s economic output surged forward, outpacing even Germany. But amidst the good news, we find ourselves grappling with a unique combination of challenges – energy price inflation, the pandemic, and the complexities of Brexit. Today, we’ll hear from top economists and industry leaders, exploring the delicate dance between managing inflation, keeping unemployment in check, and fostering economic growth.
Inflation within the UK started rising in 2021 and worsened when the Russia and Ukraine incident began. Imagine prices going up like crazy and the cost of stuff is just soaring. Sure, there was a tiny dip in inflation last month, but it’s still way above the Bank of England’s target of 2%.
Experts are getting worried because “core inflation” – that’s the term for prices without food, energy, alcohol, and tobacco – isn’t falling as fast as it should. We’ve seen other countries like the US and France manage to keep their price hikes below 5%, but it’s a tougher gig for the UK.
Now, Chancellor Jeremy Hunt’s got his hands full with this inflation crisis. He promised to cut it in half by the end of 2023, but it’s proving trickier than expected. And while they are trying to fix inflation, people are demanding tax cuts and higher wages, especially in the public sector.
But you know what? That might make prices go up even more! To tackle this mess, central banks are raising the cost of borrowing money. The Bank of England is leading the charge, bumping up the base rate 14 times since 2021. And guess what? It’s now at a whopping 5%, the highest in 15 years!
Don’t worry though, experts say it’s not likely to hit 6% or more. But these rate hikes are putting a tight squeeze on businesses and folks trying to get a mortgage or rent a place. Coghlan says they’re hiking the rates like crazy to beat down that high inflation. But it’s a tricky balance, you know? Too much and it can hurt the economy, but too little and those prices just won’t stop. So, what’s the solution? That’s the million-dollar question.
Now, if unemployment goes up, it can cool down the demand for stuff. You see, when businesses cut down on hiring, they save money on wages. But the job market is super tight right now, with loads of job openings and plenty of people already working, even after the pandemic.
The Office for Budget Responsibility made some predictions, saying unemployment would shoot up by a huge 50%, that’s like 650,000 people, by mid-2024. But recently, they changed their minds later and lowered it to just 15%. Sounds good, right? Well, not exactly for the wider economy.
When jobs are hard to come by, bosses feel the pressure to raise wages. And you know what? That can make things even trickier. It’s like a domino effect – higher wages, more money spent, and prices on the rise. They call this whole mess the “wage-price spiral.”
Speaking of the labor market, here are a couple of reasons why Britain’s youngest workers face a bleak economic future. Even though they’re avoiding a recession, some alarm bells are ringing. The job market is feeling the heat – job postings are down a lot compared to last year.
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That could mean trouble ahead, with possible layoffs on the horizon. And get this, having a fancy university degree isn’t guaranteeing better pay anymore. Graduates feel the pinch as their salaries aren’t growing as fast as prices. It’s like they’re taking a hit in their wallets.
Plus, taxes are higher than they’ve been forever, and people are getting squeezed more by the government. Families are finding it tough to keep up with expenses, and even those fresh out of college are struggling. Some are even skipping pension contributions, trying to make ends meet.
What’s more, wages in the wider economy aren’t rising much. Sure, incomes went up in the past, but lately, the growth has been kinda uneven. It’s been a bumpy ride, especially before the Covid-19 mess. And you know what? The UK hasn’t been doing great when compared to other European countries.
Their spending power went down by 2% between 2007 and 2018. Ouch! Let’s talk about student loans – they’re a whole new problem. The pandemic messed up university education, and now graduates are dealing with big student debts.
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