Britain is on the cusp of an economic boom

[willendure]

According to thie Telegraph article anyway: https://www.telegraph.co.uk/business...0three%20years.

Sorry, its behind a paywall. Not that I am a Telegraph subscriber but I was able to read it on my phone, does not want to let me on the PC.

tldr; Britain actually has lower overall debt load than most developed countries because businesses and individuals have been paying it down. Maybe we even took it too far and thats why the economy has been in the dumps for a good while. They seem to think this means things will start to take off once we figure out that we can borrow again.

[eek]

It's Ambrose Evans-Pritchard so a depression is now guaranteed..

[Protagoras]

Why would those who've been paying down debt want to start borrowing? Those brought up on artificially low interest rates have seen what an average interest rate looks like - and they don't much like it.

The same article appears to consider house price inflation good. Yet it sucks money out of investment in production and restricts access to housing for young people.

And apparently general inflation is expected to fall. Big deal. Even if it is claimed to do so - and I'm sure the data will show that - higher prices are locked in already so restricting purchasing power for many. Personally, I don't have much expectation of inflation falling - especially for items of non-discretionary spend.

What of AI? Almost every day it's said somewhere that this will cause job losses.
Those subject to job losses don't generally go on a spending spree.

[WTFH]

Why would those who've been paying down debt want to start borrowing? Those brought up on artificially low interest rates have seen what an average interest rate looks like - and they don't much like it.

The same article appears to consider house price inflation good. Yet it sucks money out of investment in production and restricts access to housing for young people.

It's the Telegraph, their demographic is those with multiple properties or those aspiring to have multiple properties. House prices going up means those people see their investments going up. The fact that higher house prices pushes those renting or wanting to get on the property ladder into debt or at least gives them far less spending money is just a sign that they are lazy benefits scroungers, destroying the country.

The same paper that a few weeks ago had a column about a couple whose combined salary was £225k but they were complaining that due to the current government they couldn't afford to have children. The article also mentioned that they had several holiday lets which brought in an additional £100k a year. Poor diddums.
That's what the Telegraph spews out.

[willendure]

Still. The lower debt burden was news to me - I thought the UK was at the higher end.

Expecting inflation but also AI to cause unemployment? Thats a contradiction, if AI causes unemployment (I dont think it will) the result will be strongly deflationary.

[sadkingbilly]

That's what the Telegraph spews out.

good cryptic crossword though. just sayin'

[ladymuck]

There's no paywall if you use archive.ph: https://archive.ph/ALzsz

[ladymuck]

I have much fun in the comments section of any Torygraph article that wails about the government killing off landlords.

They all say that the renters reform bill, with all the fines for non-compliance, will make their position untenable. They're all awesome landlords who let their properties out at below market rates from the goodness of their hearts. I merely mention that it's their commercial decision to let out at that rate and, if they expect to incur fines for letting out a property that isn't compliant, are they really that good a landlord?

I've been told I don't know what a P&L is and that I'm "anti-landlord". It's all terribly entertaining.

[WTFH]

So, the headline of the article is basically "Positive things are happening, no thanks to Labour who are responsible for all debt and should hang their heads in shame" and then a few paragraphs down "People reacted childishly to Liz Truss' brilliant budget and it's the people's fault that her budget caused a massive rise in public debt"

OK Ambrosia.

[Snooky]

good cryptic crossword though. just sayin'

Definitely my go-to!