Is Britain Falling Behind?

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  • čas přidán 23. 04. 2024
  • Check out Eight Sleep and unlock $200 off using my link: www.eightsleep.com/boyle/
    British stocks closed at an all-time high this week, but as exciting as a new all-time high might sound, the British stock market has been lagging US and European stocks since the Brexit referendum.
    A recent report from Goldman Sachs says that the British economy is 5% smaller than it would have been had it remained in Europe.
    The IMF last week listed the UK in its Fiscal Monitor publication as one of four large economies that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
    In this week's video we ask what has gone wrong in the UK, and can it all be pinned on Brexit?
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    Papers Mentioned In The Video:
    Dimson Marsh & Staunton Global Investment Returns Yearbook: www.ubs.com/global/en/investm...
    Broadberry & Irwin - Labor productivity In Britain & America During The 19th Century: www.nber.org/papers/w10364
    Schroders - Six Charts on UK Equities: www.schroders.com/en-gb/uk/in...
    Rathbones - The Non Patriotic Case For UK Equities: www.rathbones.com/knowledge-a...
    Meghan Greene - Markets must stop comparing the UK and the US: www.ft.com/content/13579c61-5...
    Robert Armstrong - UK stocks are not all that cheap: www.ft.com/content/80d7f1de-d...
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Komentáře • 2K

  • @PBoyle
    @PBoyle  Před měsícem +350

    Check out Eight Sleep and unlock $200 off using my link: www.eightsleep.com/boyle/

    • @WildFungus
      @WildFungus Před měsícem +3

      you know as much as I mock your sponsorships often for their poor value, I would buy this, but it's shocking how as a below poverty line earner, we could talk about that it's finally turned around, but yknow, the working class position is very different from someone who can afford 200 dollars off sleeping better. And I wish I could this product sounds cool. have started investing since I started watching your channel, not that you give advice, and I lover your informative dry humour on interesting world financial anomalies
      what and why is a minimum wage is a 'finance' and economics' quandary that's always facinated me. is that in your line of potential topics?

    • @petermages9482
      @petermages9482 Před měsícem +1

      I appreciate that You dress for us. Thank you.

    • @Croz89
      @Croz89 Před měsícem +2

      I appreciate that this channel might have a majority US audience, but having a video focused on the UK and using Fahrenheit in the sponsor segment seems a little odd to me (in Celsius it seems like I'm choosing between first degree and third degree burns!).

    • @bjorntorlarsson
      @bjorntorlarsson Před měsícem +1

      Have railroad stocks outperformed the US stock index since 1900 or 1930?
      No!
      You might want to consider indicating a bit more clearly when you are joking. Some viewers might not get your subtle sense of humor.

    • @bjorntorlarsson
      @bjorntorlarsson Před měsícem

      ​@@vardekpetrovic9716 Well, in Switzerland and Japan trains arrive on time. Where I live 20% of intercity train arrivals are more than 10 minutes late! (The Swiss complain about it anyway, everyone complains about the trains, it's genetic). If "private" Western railroad companies of today make a profit, it is because they loot the government that regulates and subsidizes them.
      I once looked up the Carrington event in the 1850s. A Solar event that electrified cables so that telegraph operators got electric shocks. Anyway, I then saw a newspaper which made a huge scandal about a train being 15 minutes late!!! All over the first page and two pages where they reported their interviews with everyone involved. Including a conductor who speculated that there were some kids who had been playing with the telegraph line. Hence the connection to the Carrington Solar event. So there was a kind of a hacker fear already back then. And today's train delays were completely unacceptable. 15 minutes late!? The scoop of the year, forget the Crimean war.

  • @glassmuxxic
    @glassmuxxic Před měsícem +1083

    Who would have thought a country that spent decades building nothing, orienting policy and the economy around the whims of elderly people and elderly businesses at the expense of young and working people then imposing tariffs on itself would fall behind...

    • @esterhudson5104
      @esterhudson5104 Před měsícem +1

      Because the elderly had the post WW2 economy to deal with so pointless snotnoses like yourself can relax with a pair of earbuds, also invented by the elderly. Folks, let’s all follow this chap and see where he is in a mere 5 years.

    • @craiggillett5985
      @craiggillett5985 Před měsícem +109

      So shocking, someone ought to set up a new committee to investigate this.

    • @ahsokaincognito
      @ahsokaincognito Před měsícem +59

      Same story in Germany right now, same long-term political failure. Atleast the EU is applying pressure though, we are getting the fastest supercomputer in the world right now, including for AI training, and that would definitely not have happened if only German politicians had a say.

    • @geometricelectric8954
      @geometricelectric8954 Před měsícem +22

      Australia doing exactly the same thing -_-

    • @arynasabalenka3173
      @arynasabalenka3173 Před měsícem

      And ruining the homogeneity of its society by importing countless millions of global southerners

  • @burn_out
    @burn_out Před měsícem +1198

    Britain has fallen, billions must eat fish and chips

    • @charlesbruggmann7909
      @charlesbruggmann7909 Před měsícem +134

      Fish & chips is a problem: the cod is imported (from the EU) and so are many of the potatoes.

    • @Lorre982
      @Lorre982 Před měsícem +93

      The price of fish&chips is sky rocketed dueto Brexit

    • @andrewmountford3608
      @andrewmountford3608 Před měsícem +59

      Have you tried paying for fish n chips recently?

    • @antoniofernandesmarchetti1097
      @antoniofernandesmarchetti1097 Před měsícem +9

      Didn't understand the reference!

    • @wtfyman
      @wtfyman Před měsícem +38

      Fish and chips is now crazy expensive! So much so I now see it as a treat!

  • @s4098429
    @s4098429 Před měsícem +493

    My elderly cousins live on a state subsidised sheep farm in the UK, they have 8 sheep. Here in Aus you need a minimum of 2000 sheep to make a living. The UK is paying millions to have its most productive land used as a theatre set piece so pensioners can play make believe. Insane.

    • @cptrelentless80085
      @cptrelentless80085 Před měsícem +23

      Australia is significantly bigger than Britain, with half the population, and lower animal welfare standards.

    • @SuperPhunThyme9
      @SuperPhunThyme9 Před měsícem +175

      ​@@cptrelentless80085You just underlined his point on both counts.
      1.) If the UK is so land poor, it's all the more devastating to waste it on geriatric theatre.
      2.) If 2000 is the minimum for profitability, then 8 is extremely wasteful and implies that animal rights is becoming seriously problematic.

    • @santostv.
      @santostv. Před měsícem +8

      I don’t about the uk but subsidies are usually based on quantity, my country farmers are known to do shenanigans.
      The uk state seems very generous in some cases, even tho is somewhat Watch for irregular situations people tell me there’s a lot of people swingling the uk welfare state.
      Personally I believe in the three pillars of society: safety nets,healthcare and education unfortunately it been defunded for decades so because of it there’s are no one to enforce the rules imo.

    • @Pushing_Pixels
      @Pushing_Pixels Před měsícem +70

      It's a country run by geriatrics, for geriatrics. It's no wonder the young people there have lost hope. Their futures are being determined by people who couldn't care less about the future because it's not their problem.

    • @danieldeburgh8437
      @danieldeburgh8437 Před měsícem +12

      This is the same in the EU tbf, I doubt a single sheep farm in Ireland is profitable. I would say even beef farms aren’t too profitable and that dairy farms here are the only ones that could survive without massive subsidies, although this is anecdotal.

  • @DisFantasy
    @DisFantasy Před měsícem +35

    Sounds like British investors don't want to invest in Britain.

  • @phillip5245
    @phillip5245 Před měsícem +591

    The Ukraine war has also probably cut into some of The City's oligarch money laundering business.

    • @Confucius_Says...
      @Confucius_Says... Před měsícem

      I think that the Ukraine War has put a Full Stop to the City's Oligarch Money Laundering Business... And to think that the Londongrad Laundry was the main reason behind the U.K. leaving the E.U. is just icing on the cake... 😂

    • @Leoandxin
      @Leoandxin Před měsícem +4

      this

    • @annoloki
      @annoloki Před měsícem +17

      The sanctions certainly have... tho, in the case of Russia, it was less money from oligarchs, as oligarchy is the ruling class, the money was mostly from embezzlement... for example, managers of factories and mine operators who were able to continue exporting goods and resources, with London banking system et al facilitating them taking payment for said exports into their own personal, private bank accounts (for a nominal fee, of course). This has a lot to do with why the money that went into our information systems was to produce opinions against the head of the government that was trying to get things back under control, and stop the haemorrhaging of money into other nation's capitals... people really like money, and if they have lots, they will use some of it against anyone who tries to stop them getting more.

    • @churblefurbles
      @churblefurbles Před měsícem +10

      Funny fact, supposed anti woke Konstatintin Kisin on here is the child of one such oligarch.

    • @taranullius9221
      @taranullius9221 Před měsícem +1

      Oof. Fair.

  • @georgeh6856
    @georgeh6856 Před měsícem +355

    I am not from the UK, but I think the picture of a head of lettuce with eyes on it is about former Prime Minister Liz Truss. That is so disrespectful. I mean, lettuce actually has a purpose.

    • @CraigTheBrute-yf7no
      @CraigTheBrute-yf7no Před měsícem +27

      Ikr. If I was a lettuce I would sue for defamation.

    • @taranullius9221
      @taranullius9221 Před měsícem +7

      After "obtaining" her book today and given the title and subtitle (which is different in different countries, I guess not everyone is as comfortable with such an audible dog whistle) I think a fermented cabbage with a little moustache on it would be more appropriate.

    • @user-tg6vq1kn6v
      @user-tg6vq1kn6v Před měsícem +1

      I’m no fan of any party or politician but was Truss that bad?

    • @wimdonkers7448
      @wimdonkers7448 Před měsícem +1

      LOL!

    • @Newtube_Channel
      @Newtube_Channel Před měsícem

      Thats somewhat rich you foreigner.

  • @J1M1F
    @J1M1F Před měsícem +103

    Housing affordability…if young people have little hope of moving out of parents home, starting a family and owning their own home, where’s the motivation to work?

    • @MarcosElMalo2
      @MarcosElMalo2 Před měsícem +6

      The motivation should be having to live with your parents if you don’t work.

    • @robertagren9360
      @robertagren9360 Před měsícem +10

      You never realize how poor you are until you start to work and earn money and realize this is not enough to even feed the ducks at winter.
      While living with your parents you not aware of it as the house economy is shared with more people.
      But if you leave and has to stand on your own, it is very likely that nobody want to have you as love partner since you are standing on your own and do not have afford for their narcissism. Which is why this become a paradox that if you leave your parents home you don't have afford to live since the entire idea behind the economy is supporting each other and through this companionship be with each other as long this benefit both partners. As we provide everything people want they have no reason to survive on each other and neither is this a future-proof concept and why children are being created not just because they give security but as long they live underneath the roof they share the house economy and why in practice the house expenses becomes your own problem. And that is what motivate to leave as the expenses become too high to stay.

    • @item6931
      @item6931 Před měsícem

      @@MarcosElMalo2 lmao I totally get that

    • @tomjohnson9833
      @tomjohnson9833 Před měsícem +6

      That comment belies troubling logic.
      "I can't afford to move out of my parents' home, therefore I refuse to work"
      Talk about a self-fulfilling prophecy

    • @KNByam
      @KNByam Před měsícem +4

      Preach. Theae government's just don't get it.

  • @adriangospodaru9733
    @adriangospodaru9733 Před měsícem +596

    Britain is not falling behind ... is falling apart ...

    • @user-jd9sj1mq2b
      @user-jd9sj1mq2b Před měsícem +20

      Already have, most just haven't noticed it yet.

    • @chazzbranigaan9354
      @chazzbranigaan9354 Před měsícem

      Within 100 years britian will be reduced to a tourism stop for rich Chinese, like Disney world but where u go see the queen and those guys in furry hats. What an odd people the British, can't say they don't deserve what's coming to them.
      The only saving grace is Americans will be able to subsidize your beans for breakfast so you ham beasts will always be able to have a bit of a treat.

    • @grandmastarflash
      @grandmastarflash Před měsícem +25

      As a brit I thought the title was strange, surely its already fallen!?

    • @thechosenwon6762
      @thechosenwon6762 Před měsícem

      100% nothing works as it should court's the police nhs in fact most government agencies and peoples spending power has massively shrunk

    • @whannabi
      @whannabi Před měsícem +4

      Story just repeats itself

  • @Deany3791
    @Deany3791 Před měsícem +128

    Hi, young educated professional Briton here.
    I can speak on low productivity in my experience. Salaries are so low for skilled jobs relative to the cost of living there is absolutely no incentive to progress or put in effort. Our generation are sacrificed at the alter of maintaining over inflated house prices

    • @ShatteredQvartz
      @ShatteredQvartz Před měsícem +6

      Basically the situation in every country in the world

    • @item6931
      @item6931 Před měsícem +7

      Absolutely the same in Australia.

    • @Newtube_Channel
      @Newtube_Channel Před měsícem +1

      What?

    • @jonnection
      @jonnection Před měsícem +7

      "I can speak on low productivity *according to* my experience..... *that* there is absolutely.... Our generation *is* sacrificed... at the *altar* (not "alter")... "Overinflated" is one word, not two.

    • @hillbilly4895
      @hillbilly4895 Před měsícem

      Q: Of the "skilled jobs" what percent are medical?
      Also, "housing" is a supply/demand entity...and you live on an island where a considerable portion of building mat'ls have to be imported, right? Last, what percentage of the existing housing is subsidized by the taxpayers? Last, what percentage of your admonishments could be positively addressed by less whining and more solving? Now, if you're already defeated, you can ignore all the above. The World will understand.

  • @Tochinoki
    @Tochinoki Před měsícem +268

    It's a nation of landlords. Produce nothing but take as much as possible from each other. Most successful one gets their face on the money.

    • @esterhudson5104
      @esterhudson5104 Před měsícem +18

      Let’s correct that a bit and say Landlords and filthy, destructive tenants.

    • @meltedsnowman9637
      @meltedsnowman9637 Před měsícem +4

      More landlords lead to lower rent prices. What they produce is an increase in rental properties on the market for people to rent.

    • @theultimatereductionist7592
      @theultimatereductionist7592 Před měsícem +32

      @@esterhudson5104 Most of those tenants are patriotic heroes fighting back against lazy landlords who produce nothing but take as much as possible from others, mostly the poor.

    • @ShaddamCorrino
      @ShaddamCorrino Před měsícem

      @@theultimatereductionist7592 🤡

    • @jimpaddy79
      @jimpaddy79 Před měsícem +13

      @@meltedsnowman9637have you any data or evidence to support that argument?

  • @MK-13337
    @MK-13337 Před měsícem +397

    England is similar to a hypothetical country where you took Poland and put New York in it. It's a poor country surrounding a financial megacity.

    • @zagreus5773
      @zagreus5773 Před měsícem +133

      At least Poland is on the rise. Englands country side is more like Sudan.

    • @rlkinnard
      @rlkinnard Před měsícem +31

      @@zagreus5773 I was going to make the same point though i was not thinking of Sudan

    • @martian9999
      @martian9999 Před měsícem +81

      Poland will soon overtake the UK. Bulgaria might be a better case, as it suffers from low investment / austerity and poor demographics.

    • @zagreus5773
      @zagreus5773 Před měsícem +23

      @@rlkinnard Bulgaria is maybe a more apt comparison, as the other commenter said. I was trying to evoke a more colorful image.

    • @DerDop
      @DerDop Před měsícem +35

      Poland and Romania are booming :))) In fact, the average working class citizen has it better in Poland or Romania than in the UK.

  • @cloudycolacorp
    @cloudycolacorp Před měsícem +71

    I don't blame people for just giving up. Work as an expendable asset and hand most of your pay to a landlord, infrastructure crumbling and healthcare a struggle to get. At some point, they are just going to have to offer workers a better deal

    • @ANEEAMA
      @ANEEAMA Před měsícem +1

      It is high time corporations to provide accommodation benefits for employees like the Middle East based firms.

    • @yorkshiremgtow1773
      @yorkshiremgtow1773 Před měsícem +1

      What would you do, if in power, which wouldn't cause unforeseen consequences elsewhere?

    • @stunningandbrave2520
      @stunningandbrave2520 Před měsícem +4

      @@yorkshiremgtow1773 End free trade agreements with countries that pay their workers next to nothing. You lose jobs to them and they are too poor to buy anything from you. Low wages also stifle innovation and efficiency.

    • @yorkshiremgtow1773
      @yorkshiremgtow1773 Před měsícem

      @@stunningandbrave2520 But there shouldn't be trade agreements in the first place. They do nothing.
      Also: by no longer buying from these producers who pay low wages, how does that help those workers in any way?

    • @stunningandbrave2520
      @stunningandbrave2520 Před měsícem +3

      @@yorkshiremgtow1773 I don't mind free trade agreements with countries that pay their workers about the same i.e. higher wages. It improves efficiency which doesn't mean work harder for less. It's free trade agreements with developing countries that nothing good comes from.

  • @10secondsrule
    @10secondsrule Před měsícem +149

    I was working for 20 years in the architectural practices in the U.K. and I can say this was the least productive environment to be in. I could have finished my job in 4hrs max on most days but was forced to match my pace to the rest resulting in 8-9 hours days. Absolutely inefficient and stupid way of working. I also had to beg for over 2 years for a faster pc and second screen which was refused due to… the office policy and everyone being treated the same - even when my job was the most demanding, graphic intense work of them all. Stupidity beyond any measure.

    • @Croz89
      @Croz89 Před měsícem +20

      I think much of the UK's lack of productivity can be down to inefficient internal bureaucracy. A lot of time is wasted waiting for approval or action from other departments, often resulting in multiple emails or phone calls that can stretch over weeks. Particularly in research and development, this can be a massive drag on productivity and can lead to missed deadlines and lower quality output.

    • @muhcharona
      @muhcharona Před měsícem +8

      @@Croz89 No, they opened their doors to the dregs of empire.

    • @edwardmclaughlin7935
      @edwardmclaughlin7935 Před měsícem +11

      10secondsrule
      You picture it very well. I worked 45 years under many managers, and every one of them had as their first concern, the suppression of anyone beneath them who showed any talent and initiative. Show you are able and you are seen as a threat.

    • @Pushing_Pixels
      @Pushing_Pixels Před měsícem

      @@muhcharona Yeah yeah, foreigners are the reason your life has been a failure.

    • @user-ov4mk9ox8y
      @user-ov4mk9ox8y Před měsícem +12

      Being in Canada, any Brit manager I knew was very good at internal politics, and EXTREMELY good at "talking down" to people, esp. if they believe they're below them. The class system "attitude" is alive and well,.........in the colonies. Give me old school America, German, or Jewish bosses any time. I thrive. They win.

  • @drew2pac
    @drew2pac Před měsícem +283

    I had a relative visit me in UK from Luxembourg. They were born here too, but were saying how depressing the UK is - and it get worse each time they visit. It feels like people are giving up, angry, and the country is falling apart. He works in VC, and UK is just no longer really relevant in the EU... You never really hear that when living here.

    • @kokojambo4944
      @kokojambo4944 Před měsícem +17

      Well, the UK is still very relevant in financial markets, especially London not so much the rest of the union. There are now differences which were not there before sure. But to say that its not relevant is just wrong. I myself actually have experience on both sides of the channel and in the Netherlands or Belgium France has emerged as a direction for young talent looking to work in PE, VC or IB. However London is still the place where people from these countries want to work and associate it with high finance.

    • @Drunkenmeows
      @Drunkenmeows Před měsícem +50

      This is exactly how I see it after living abroad for the last 7 years.... It's like everyone here is blind to the rot or they just think it's normal... rest of the world is or will be a better place to live.

    • @MarcosElMalo2
      @MarcosElMalo2 Před měsícem +6

      @@Drunkenmeows”Britain Soldiers On”

    • @UserUser45654
      @UserUser45654 Před měsícem +12

      It would be worse within the EU. Does your relative not see what is happening within Germany, Italy, Austria, Belgium, Ireland?

    • @arynasabalenka3173
      @arynasabalenka3173 Před měsícem +16

      Too much dye verse city as well. It feels like the native people don't belong in their ancestral land anymore

  • @davegubbins4428
    @davegubbins4428 Před měsícem +264

    Will NO ONE think of the UK's tax havens? Oh, the humanity !

    • @simonweekes3068
      @simonweekes3068 Před měsícem +28

      Ireland is Europe’s biggest tax haven. 😉

    • @weird-guy
      @weird-guy Před měsícem +12

      Gotta love London tax shenanigans 😂😂

    •  Před měsícem +3

      @@simonweekes3068 LOL

    • @NickFallon88
      @NickFallon88 Před měsícem +3

      Lots of tax here

    • @andriusandrau
      @andriusandrau Před měsícem +3

      I will build a tax-i haven club for all cab enthusiasts.

  • @RihardsDel
    @RihardsDel Před měsícem +303

    Britain (excluding London) is falling massively behind. You only need to check the insolvency numbers is SMes

    • @richcarless7740
      @richcarless7740 Před měsícem +29

      not sure I would exclude London, Brexit hits London hard.

    • @justgeneric2876
      @justgeneric2876 Před měsícem

      Its regs on SMEs and loans too easy for SMEs.

    • @dennikstandard
      @dennikstandard Před měsícem

      Europe is massively falling behind the US & China, and UK is massively falling behind EU. We sure got ourselves some fine leadership.
      I wonder if it's time to bring back the noble tradition of czech style defenestrations ...

    • @sznikers
      @sznikers Před měsícem +31

      High streets are ghost towns with many commercial units empty since covid. And now among those that survived there is another wave of closures, even if its big companies.
      Infrastructure decayed.
      Debt went up.
      Were decaying fast.

    • @bosoerjadi2838
      @bosoerjadi2838 Před měsícem +16

      Also check the high streets (outside London) in town and city centers. Mostly charity (related) shops selling used goods. The most disturbing aspect: most charities carry for causes that should be the government's responsibility to adequately address. On the continent such shops are rare to non-existent. The Salvation Army is probably the only one, with just a few shops per country. Except perhaps in the UK.

  • @zachb1706
    @zachb1706 Před měsícem +10

    It’s insane how low the salaries are in Britain.
    NHS doctors get paid on average £70k, which would be ~$140k here in Australia. That’s less than half the $300k starting salary for a public doctor here, and private is way more than that.
    It’s an economy in shambles, and society that’s been going down the gutter for years. Atleast that’s the opinion of a dirty “convict”

    • @MenWithVen
      @MenWithVen Před měsícem +4

      I moved from the UK to Australia and noticed this. You can literally earn more money doing fairly mundane entry level jobs in Oz, than you would as a nurse, teacher, police officer in the UK (all on between 50-70k AUD roguly after conversion).
      Made no sense for me to stay there so now I enjoy the sweet Aussie money and benefits.

    • @Hunter_Bidens_Crackpipe_
      @Hunter_Bidens_Crackpipe_ Před 24 dny +1

      Usually public sector workers get paid less than private sector. Unless it's politicians, then they get paid by whatever they can steal.

  • @owendavies8227
    @owendavies8227 Před měsícem +119

    The reason Britain is falling behind is because of lack of innovation. I tried to start a business in the UK but red tape eventually forced me to give up and I am doing more or less the same thing in the USA but did not get held up (at least not to the same extent).

    • @AustenSummers
      @AustenSummers Před měsícem

      If you import low-IQ people, what do you expect to happen? lol

    • @jimpaddy79
      @jimpaddy79 Před měsícem +6

      What red tape held you up?

    • @TDubya811
      @TDubya811 Před měsícem +62

      ​@jimpaddy79 the UK has made inconvenient and costly to purchase the raw ingredients for methamphetamine.

    • @owendavies8227
      @owendavies8227 Před měsícem +42

      @@jimpaddy79 It takes a lot of paperwork to build any kind of permanent infrastructure. Council approval alone usually takes months or years. On top of that, the UK government fees and restrictions ended up making my particular industry (plant breeding) almost impossible due to the expense (registering and maintaining a variety costs a lot of money just to file the paperwork) and required conformity to arbitrary standards (e.g. you can't have a seed variety that is even multiple colors in the strictest sense of the law).

    • @jimpaddy79
      @jimpaddy79 Před měsícem +9

      @@owendavies8227 100% agree with you about planning, even happens to major Government project, I didn’t know plant breeding required so much paper work, glad you found success in America.

  • @MarkHeathcliff-bf2im
    @MarkHeathcliff-bf2im Před měsícem +91

    Remember those guys that claimed that Brexit would give the UK more power to handle its economy and allow it to negotiate better trade deals with countries like the US.

    • @MarcosElMalo2
      @MarcosElMalo2 Před měsícem +13

      Would you stop teeing up Pepperidge Farm jokes?!

    • @MarkHeathcliff-bf2im
      @MarkHeathcliff-bf2im Před měsícem +2

      @@MarcosElMalo2 I didn’t make that joke though? I would have added something like I remember or Pepperidge farms remembers at the end if I did

    • @WestCoastAce27
      @WestCoastAce27 Před měsícem

      Then Wu Flu happened. No pro-Brexit people said ‘please lock down the planet for months after we pass this.’

    • @elifuentes7070
      @elifuentes7070 Před měsícem +14

      The UK has to give up pretty substantial concessions to entice the US into a trade deal. Even without a trade deal, American companies are already among the leaders in the UK in most sectors of the UK economy.

    • @MarkHeathcliff-bf2im
      @MarkHeathcliff-bf2im Před měsícem +10

      @@elifuentes7070 the tories and leavers apparently didn’t know this

  • @thedeester100
    @thedeester100 Před měsícem +69

    Britain has neglected its productivity in favour of service. Its thrown all in on banking and provision of debt neither of which give back to the real economy.

    • @bordedup546
      @bordedup546 Před měsícem +6

      us productivity growth is mainly in services though

    • @annoloki
      @annoloki Před měsícem +5

      Well, running the housing/land market as a ponzi scheme was never going to work out well... now we are using immigration as a ponzi scheme as well... don't get me wrong, absolutely nothing against the people who come here, it's the fact that we NEED them to that is the problem... it's like, a new type of imperialism, instead of investing in the required education/training, we get other countries to make that payment, and then import those people... the collapse is going to be savage

    • @ANEEAMA
      @ANEEAMA Před měsícem

      Productivity lost not due to services , but due to failure of government and private companies to skill up its labour force.

    • @kiuk_kiks
      @kiuk_kiks Před měsícem

      Trickle down economics cannot work. Even the world bank said it doesn’t work 😂

  • @demos113
    @demos113 Před měsícem +167

    2:44 the lettuce did nothing wrong!!!
    Certainly lasted longer than Truss. 🙃

  • @GeraldL8
    @GeraldL8 Před měsícem +135

    The issue of the British labour market makes no sense to me. SO many students (international and domestic) are applying for jobs during and after higher education. Yet many don't get employed. The companies themselves aren't helping matters because they don't want to invest in training new graduates but instead want finished products.

    • @UserUser45654
      @UserUser45654 Před měsícem +13

      Too many of those graduates are getting degrees that are not marketable.

    • @samelmudir
      @samelmudir Před měsícem +34

      It's useless for countries like England, Australia and Canada to have 100 universities with no companies to hire graduates . Just a way to enrich colleges and homeowners in the rental market.

    • @fdhgbjsk
      @fdhgbjsk Před měsícem +15

      @@samelmudir Transfer foreign capital to domestic markets. Those foreign students pay high fees, then the university invests that money in the market to keep it pumping. Graduates can't find work so they go back home. The alternative would be to start your own business here, but, with utility and rental expenses so high it's basically impossible to enter without significant capital to start off with.

    • @festerfeet7302
      @festerfeet7302 Před měsícem

      Thank you Mr Boyle for bringing together this research. Unfortunately, none of this is a surprise but it does add clarity to the multitude of issues within the stock market and the wider UK economy. My feeling is that we have an old economy that has not been nimble enough to participate in the necessary changes to keep up with others. I fear that there is little vision in political policy and the environment is just not as attractive for a lot of companies to compete. Cost of capital, policy risk, cost of labour and lack of productive labour in a very competitive world market needs to be addressed to see a turnaround in fortunes.

    • @carsonrowe8948
      @carsonrowe8948 Před měsícem

      @@samelmudirbro it’s crazy out here in Vancouver Canada. Fake schools and everything. “Skilled labour” making minimum wage at subway. They get treated horribly too. Many of my friends or people I have met in my construction career were foreign labourers who were treated absolutely terribly. Shameful really. They know people from here know their rights; so they prey on ill informed foreigners. It’s honestly incredibly shameful.

  • @georgettelevesque277
    @georgettelevesque277 Před měsícem +34

    I have a friend in his forties in England and he’s been having difficulty finding good paying work the last few years. Now I understand what’s going on. Thank you Mr. Boyle for this enlightening take on the UK economy.

    • @user-xl5kd6il6c
      @user-xl5kd6il6c Před měsícem +4

      That's more to do with immigration than anything else tbh

    • @a.y.greyson9264
      @a.y.greyson9264 Před měsícem

      @@user-xl5kd6il6cMore like the lack of new companies being created. The US is obsessed with start-ups and seed funding and IPOs. I work at a tech start-up, and everyone in the start-up is pushing me and others to begin their own start-up. I have friends who also work in tech in the UK and Netherlands and we’re making 60% more than the average tech worker is making in Western Europe as we’re selling to the entire planet, not a handful of countries.

  • @thejustifier5566
    @thejustifier5566 Před měsícem +66

    The Uk has been going downhill since the Beatles broke up.

    • @user-in8qh3zf9d
      @user-in8qh3zf9d Před měsícem +8

      The Beatles were shit

    • @i_i8924
      @i_i8924 Před měsícem +2

      ​@@user-in8qh3zf9dYou take that back.. you might hurt Ringo's feelings 😂

    • @tobymaltby6036
      @tobymaltby6036 Před měsícem +1

      @@i_i8924 Except that should be: "fookin' sheeyiy - t."

    • @annwilliams6438
      @annwilliams6438 Před měsícem +1

      😂😂😂😂 Make GB Great Again (government sponsorship of world tours for British pop stars?)

    • @Mrrogerthurman
      @Mrrogerthurman Před 27 dny

      Britain has been going downhill since the loss of the cream of its manhood in 14-18.

  • @elguido
    @elguido Před měsícem +142

    Wow, lower productivity than France?? I think that is the worst insult you could give a country

    • @lukerogers6133
      @lukerogers6133 Před měsícem

      While they keep pretending to pay us, we will continue pretending to work. Simple as that.

    • @Alex-fm5ke
      @Alex-fm5ke Před měsícem +12

      France has high productivity

    • @katrinabryce
      @katrinabryce Před měsícem +1

      @@Alex-fm5ke If you bring more people into the workforce, those additional people tend to be less productive than the ones who were already there. The UK has done that to some extent, France has not.

    • @johnsmith-cw3wo
      @johnsmith-cw3wo Před měsícem +7

      @@katrinabryce yes... lucky France don't have migrants from former colonies...

    • @katrinabryce
      @katrinabryce Před měsícem +6

      @@johnsmith-cw3wo They definitely do 🤷🏻‍♀

  • @khaluu2000
    @khaluu2000 Před měsícem +22

    Lets not forget about the oldest British bank disaster “Barings Bank” in 1995 with the whole fraudulent transaction over the singapore stock. Holy crap did that reveal how behind some people were regarding catching up with papertrails, financial audits, and plain corruptions.

    • @wimdonkers7448
      @wimdonkers7448 Před měsícem +2

      And no one has ever been held accountable! (Nor will be in future cases, I am afraid).

  • @ulrimi30
    @ulrimi30 Před měsícem +196

    First country to knowingly impose economic sanctions on itself, lmao...

    • @MarcosElMalo2
      @MarcosElMalo2 Před měsícem +57

      lol, and when they had a chance to negotiate lighter sanctions, the said “no, we want the harder sanctions because hard brexit sounds more macho.”

    • @jimpaddy79
      @jimpaddy79 Před měsícem +11

      And then effectively did it again when they sanction Russian oil and gas

    • @alexx123ify
      @alexx123ify Před měsícem +9

      Half of the country knew, the other half are still living in fantasy land

    • @pauln6803
      @pauln6803 Před měsícem +12

      ​@@jimpaddy79
      Ivan, waste Vlad's bandwidth on the military analysis channels.

    • @pauln6803
      @pauln6803 Před měsícem +3

      ​@@alexx123ify
      That's something I dispute, purely because of how ignorant the British people were of what the EU is, what it does and can/can't do.
      And that charge is levied upon a large percentage of both leave and remain voters.
      Many of those I've spoken to who voted to leave the EU - mostly the older generation - are now saying it was a mistake, and claiming they were lied to.
      I know, Boris Johnson, Michael Gove and Nigel Farage lied... Who'd a thunk it (!)
      But seriously, the amount of disinformation being peddled, along with a particularly poor performance from many in the remain camp (Cameron betting his unpopular premiership on a massive constitutional upheaval), coupled with the levels of ignorance in the electorate, gave the leave campaign a huge bonus, that in a better enformed and honest environment wouldn't have gained nearly as much traction.

  • @satelliteflash
    @satelliteflash Před měsícem +16

    I appreciate that you kept saying FTSE like “Footsie”, and never just said the individual letters. Thank you for that.

    • @aredub1847
      @aredub1847 Před měsícem +2

      the fact that the uk calls its index by such an infantile term says a lot.

  • @martincday007
    @martincday007 Před měsícem +29

    The UK economy inside or outside the EU has been in steady decline for years, it has lost much of its manufacturing base and turned itself into a service industry.
    There seems to be no politician on any side of the spectrum that is pushing for investing in manufacturing, the UK has no significant expertise in renewables and the large UK infrastructure projects are too often given over to foreign companies.
    Why are the French and Chinese building UKs new nuclear power stations? Why are there not UK companies that can build the UK's power stations and then export the expertise and experience learnt globally?
    The UK's productivity has been in decline for years, it needs politicians that actually want to stimulate growth in areas that will boost exports.
    The UK used to be a world leader in countless areas, "made in Britain" used to mean something, now if anything it means something else entirely.
    The stock market being at an all time high is probably more to do with the weak pound and little to celebrate.

    • @somenamethatdoesntmatter
      @somenamethatdoesntmatter Před měsícem +5

      The video outlines brexit as a major accelerator of the decline martin, no ifs or buts. Even worse than it would have been.

    • @jimpaddy79
      @jimpaddy79 Před měsícem +5

      The UK has lost its expertise thats why it had to rely on foreign companies, its been several generation since the UK was world leading in those industries so your effectively starting from scratch while having to compete against countries that now have multiple generations of experience in those industries now.

    • @martincday007
      @martincday007 Před měsícem +1

      @@jimpaddy79 There are new opportunities where no one has any experience so everyone is starting from scratch. For those where the UK had expertise and it was lost, other countries took over by starting from scratch.

    • @jimpaddy79
      @jimpaddy79 Před měsícem +1

      @@martincday007 not saying it impossible to start from scratch just that its very difficult when you have to compete against other that arnt, and in an open and fair tendering processes it would be difficult for an inexperienced UK company to beat an experienced foreign one.
      There definitely are opportunities opportunities in tech manufacturing, the only problem is that it require missive investment and long term planning in order the succeed in, and unfortunately the UK private and public sector seem very unwell to do either, but we should always hope for the best and its near to late to start doing the right thing.

    • @martincday007
      @martincday007 Před měsícem

      @@jimpaddy79 I think we agree that it is possible but then where are the politicians who have the vision?
      They are quick to talk about investment in infrastructure, NHS, mental health and Inclusivity, which are all noble goals but they are normally things that can only be done through having a strong economy.
      Who is even looking at "The City" and making sure that it remains the world’s second most important financial capital? How long before that to goes the same way as the UK's car and ship building industries?

  • @Tubes78
    @Tubes78 Před měsícem +178

    I remember there was an exit movement in the Netherlands after Britain left, you don't hear much of them these days...

    • @esraeloh8681
      @esraeloh8681 Před měsícem +14

      Thank god, what a mess this has been & continues too

    • @slimdiddyd
      @slimdiddyd Před měsícem +27

      The party espousing the exit in the Netherlands is now the most popular party in the country

    • @sebe2255
      @sebe2255 Před měsícem +62

      @@slimdiddyd They have dropped a Nexit as a talking point though, and there is no indication they will push for it

    • @neodym5809
      @neodym5809 Před měsícem +18

      @@slimdiddydmost popular still means a small minority in the fractured Dutch political system.

    • @malthus101
      @malthus101 Před měsícem

      Brexit was essential and the fall since, is obvious punishment from the hidden hand, don't be so naieve. All European countries need to leave the EU, it is pure evil and has done so much damange it's untrue.

  • @jmanakajosh9354
    @jmanakajosh9354 Před měsícem +166

    The answer is YES. So this one didn't follow the law of headlines!!

    • @johnl.7582
      @johnl.7582 Před měsícem +1

      Worsages Law of Headlines

    • @Freerunx3
      @Freerunx3 Před měsícem +4

      Usually, when a video or an article headline is a question, the answer is no.

    • @juanvaldes420
      @juanvaldes420 Před měsícem +1

      @@Freerunx3 and by "usually" we mean 99.99999% of the time.

    • @whannabi
      @whannabi Před měsícem

      ​@@juanvaldes420which fits the word

  • @angelikaskoroszyn8495
    @angelikaskoroszyn8495 Před měsícem +23

    Still waiting for the 350 milions a week for NHS. Remember the red busses? Where all that money went?

    • @Robert-hy3vv
      @Robert-hy3vv Před měsícem

      turns out government run healthcare is garbage. Who could have known? (everybody with a brain)

    • @saadsait1700
      @saadsait1700 Před 26 dny

      If you were actually interested you’d learn that NHS funding has increased significantly more than £350m a week

    • @Hunter_Bidens_Crackpipe_
      @Hunter_Bidens_Crackpipe_ Před 24 dny +1

      ​@@saadsait1700so the funding increased but the service continues to nose dive?

  • @knightsnight5929
    @knightsnight5929 Před měsícem +5

    Who would have guessed that leaving the biggest and richest free trade area in the world would have a negative impact on an economy?

  • @spacetime3
    @spacetime3 Před měsícem +107

    Its literally because of the over-focus on financial services that has caused the UK to not have a balanced economy in terms of a variety of industries, you'll find just financial and insurance companies in the UK, not having other industries being either sold off or not invested in means your UK stock market will naturally tend to be homogenous. Governments wanted easy money and business just wanted to cream the profits and not re-invest this is what you get.

    • @BlauJen887
      @BlauJen887 Před měsícem +14

      This is brutally true. A bicycle, mobile phone and bag were considered tech. Who is that worse for; the company or share buyers? The uk has been lagging in sci and tech development for decades. Where is the growth coming from, new cars and battery tech or new insurance and advice on tax avoidance. The comment about state laboratories is also very astute: every state and province in us and china has one. Why? Because it’s about the economy stupid… or the economy 20 years from now.

    • @Benzknees
      @Benzknees Před měsícem +8

      We had no option, as industries were all critically wounded or destroyed during the hard left's period in power in the 1960s & 1970s. Shipbuilding, motor & motorcycle manufacture, textile industries & machine makers, steel & coal all declined or disappeared. My area used to have a 'town of industry' postmark on the Council's envelopes, with many large scale industries, but these either all disappeared thru the period or struggled on into the 1980s with less & less customers for their products before failing. And Mrs T's corrective action to squash very high inflation figures, plus new competition from joining the EEC, dealt the final blow.

    • @simonweekes3068
      @simonweekes3068 Před měsícem +15

      Yes. The policies of the 1980s until present of abandoning manufacturing, and putting all our eggs into financial services has been a huge failure. The idea that the City of London can keep the entire country afloat has been a disaster.

    • @giansideros
      @giansideros Před měsícem +13

      ​@@Benzknees the UK has the most labour flexibility of the majority European economies since the 1982 Employment Act, our trade unions are hamstrung (no right to General Strike, no closed shops etc) and yet you still feel so inclined to blame the "hard left".
      High housing costs and rents from liberalising the housing market scares industry off, landlords and speculators have killed industry.
      Until wages come down i.e. due to a drop in house prices and rents, don't expect the UK to be competitive against other advanced economies in Europe that haven't let speculators drive costs up, and yes these places have similar and even higher rates of immigration to the UK too, so that excuse doesn't wash either.

    • @michaelimbesi2314
      @michaelimbesi2314 Před měsícem +3

      Nah. Britain’s lack of other industries is largely a result of disinvestment, driven by excessive regulations, militant unions, and the general British tendency towards sloth and malaise.

  • @enochinri
    @enochinri Před měsícem +37

    Th vignette effect and lighting in Patrick's videos is going to get darker and darker until we face a new market crash, at which point it will all be normal again

  • @williamlloyd3769
    @williamlloyd3769 Před měsícem +58

    This video is so dense in knowledge that I have to listen to several parts several times to see what this info means to me. Thank you.

    • @robchang4410
      @robchang4410 Před měsícem

      i agree - however, for me its more "idea" to explore ...type of knowledge

    • @Gappasappa
      @Gappasappa Před měsícem

      Is that you who is boosting the viewing numbers even as I am watching 😂😂

    • @Gappasappa
      @Gappasappa Před měsícem

      💯👌👌

    • @raymondcaylor6292
      @raymondcaylor6292 Před měsícem

      Agreed. Especially snippets like " since 1900 railroad stocks have outperformed the S&P 500 and outperformed trucking and airlines stocks since the disruptive stocks came available on the market". 19:32

    • @fashionsense9083
      @fashionsense9083 Před měsícem

      No, you're just slow.

  • @drew9312
    @drew9312 Před měsícem +3

    Excellent video. As someone living in the UK, in my opinion, the UK needs to sharpen its business strategy. There are disproportionately too many of its working age workforce claiming they can’t work and yet are out and about 9-5 and others in the population need to show more work ethic like the US and Singapore.

  • @ctdieselnut
    @ctdieselnut Před 13 dny +1

    "...the bicycle, which i still call the 'swift walker'..."
    12:12 the dry humor gets me every time. ❤😂

  • @haydenrozalski8537
    @haydenrozalski8537 Před 21 dnem +2

    60.5% of all money invested in stock markets being held by the US is absolutely insane. I never would have guest it was that extreme

    • @blongshanks77
      @blongshanks77 Před 15 dny

      I literally said the same thing when I saw that. Although it does makes sense when you consider that around 61% of all Americans are invested in the stock market, with most of those investments being tied to retirement accounts like 401Ks and IRAs.

  • @Sophie-iv4ci
    @Sophie-iv4ci Před měsícem +4

    No no no, Great Britain is doing GREAT! Joyfully great! Well done!

  • @Drunkenmeows
    @Drunkenmeows Před měsícem +33

    I don't know why we aren't like other countries. Financial services and property investment only goes so far, why can't we have a mix of different sectors? Why can't we have our own manufacturing. I just saw a job post for ship building in South Korea for 4,000,000 won per month. Imagine being a labourer on 4k a month in the UK. We need investment in businesses not just property.

    • @davidz7858
      @davidz7858 Před měsícem +4

      Because it serves rich people better.

    • @HH-le1vi
      @HH-le1vi Před měsícem +8

      4k a month for a ship builder is dirt cheap

    • @bordedup546
      @bordedup546 Před měsícem

      i agree. more housing stock would force banks to invest in businesses rather than mortgages. the planning system is tragic at the moment and nimbyism is the default setting. attitudes need to change

    • @flat6croc
      @flat6croc Před měsícem +2

      Exporting manufacturing jobs is hardly particular to the UK. It's common to many western economies.

    • @gabbar51ngh
      @gabbar51ngh Před měsícem +2

      Manufacturing requires actually working and thinking. UK's rich just want to hold onto their wealth without much change.

  • @mrtodddelaroderie
    @mrtodddelaroderie Před měsícem +37

    Thank you Mr. Boyle for your excellent show.

  • @craiggillett5985
    @craiggillett5985 Před měsícem +12

    Gosh I look forward to these drops. Mind you I’m still revelling in the amazing, positive review of Line City, what an amazing initiative.

  • @-J_W-
    @-J_W- Před měsícem +9

    The three Prime Ministers portrait at 2:45 is mean, unfair and hilarious.

  • @EnglishAbundance
    @EnglishAbundance Před měsícem +46

    Borrowing is high but that’s because the government has been investing in infrastructure, healthcare and the military etc. Actually, that doesn’t sound right.. There’s been no investment at all. So, um, I’m confused..

    • @sznikers
      @sznikers Před měsícem +20

      You're wrong, we've managed to built most expensive rail line in the world with it 😂

    • @johnmcalester5165
      @johnmcalester5165 Před měsícem +1

      Paying businesses not to do business and keeping all the workers at home for 18 months of lock down cost an awful lot of money that the Govt. didn't have !

    • @selfawaretrashcan4594
      @selfawaretrashcan4594 Před měsícem

      @@johnmcalester5165yeah the alternative was allowing a disease to devastate vulnerable populations. You're right, the COVID lockdowns were depressing to the economy, the alternative was devastating vulnerable populations. Likely affecting your bottom line, if that's the only thing that bores through that thick skull.

    • @giansideros
      @giansideros Před měsícem +25

      ​@@johnmcalester5165but the UK wasn't the only country that did that, so that excuse just doesn't wash I'm afraid.

    • @neodym5809
      @neodym5809 Před měsícem

      @@johnmcalester5165more like paying Tory donors a lot of money for inferior medical equipment and track and trace.

  • @anthon2529
    @anthon2529 Před měsícem +12

    As an EU postgrad student in London I keep being staggered how faltered the UK is (although I’m not even outside of London). It seems like the UK is 20 years ahead of some western EU countries, who should take a close look at the recent developments in the UK to draw their conclusions on how to avoid failing equally as hard.
    My university is also a bubble where it’s very easy to enjoy the network and company of other student who are lucky enough to be able studying in London - once you the leave the bubble however, the contrast is ever more stark. Virtually nobody is seriously considering staying in London/UK (apart from the few who got an actually well paid job in the City), everyone just wants to reap the benefits of the perceived prestige of the university and apply their skills elsewhere.

  • @dioscur87
    @dioscur87 Před měsícem +9

    Man, 2000$ for this piece of engineering is WAY MORE than I would like to pay for a pod cover, but I appreciate your humour! 😂

  • @mircdom4603
    @mircdom4603 Před měsícem +13

    Thank you Patrick! As always great content!

  • @davidlea-smith4747
    @davidlea-smith4747 Před měsícem +21

    Now I have to call bicycles swiftwalkers. Thanks Patrick.

    • @MarcosElMalo2
      @MarcosElMalo2 Před měsícem

      I’m calling chairs extremely slow walkers now. I went on an extremely slow walk while watching this video, but at least I’m getting some exercise.

  • @craiggillett5985
    @craiggillett5985 Před měsícem +5

    This was an excellent drop today. Totally thought provoking. 🇳🇿

  • @deadpan2866
    @deadpan2866 Před měsícem +5

    ive been saying this for the past few years. britians biggest issue is that the leadership of country in both politics and business are stuck in the 90s, they dont seem to understand that culture and technology has changed drastically and that they expect that everyone still spends their spare time watching the same tv shows from the 70s because a spice girl is a guest star that week. people in britian want change but the change is never what anyone wants because its from a mindset from 30 years ago

  • @leimleim
    @leimleim Před měsícem +65

    "you are not longer stealing the blanket from your partner" that gave me Brexit vibes

  • @adrianbulete
    @adrianbulete Před měsícem +3

    Mind-boggling! 🤯
    Excellent presentation. 🏆

  • @herpderp728
    @herpderp728 Před měsícem +32

    The poverty level outside London is absurd. The whole nation is basically a city state geared towards enriching the Lords who live in the capital

    • @Toetalwar
      @Toetalwar Před měsícem +10

      always has been.

    • @flat6croc
      @flat6croc Před měsícem +2

      Sorry, what? There's loads of wealth outside London. What on earth are you talking about?

    • @herpderp728
      @herpderp728 Před měsícem +7

      @lairdinho sure there are little pockets of wealth clustered around the countryside manors of local lords or around shipping ports, but for the average person the poverty is horrible. It's no different than the poverty you'd find in the Polish or Mississipi countryside, except it's far more common.

    • @flat6croc
      @flat6croc Před měsícem +2

      @@herpderp728 You haven't the slightest idea what you're talking about. Shipping ports? Lords? Have you even been to the UK?

    • @herpderp728
      @herpderp728 Před měsícem +8

      @@flat6croc you're questioning the existence of "Lords"... when they literally have a House of Lords wherein political offices are hereditary

  • @ashrafabbas6675
    @ashrafabbas6675 Před měsícem +4

    "If you are not interested in working, you might not be interested in filling out surveys about it either." being a long time follower of your channel, I saw that coming 😊

  • @nat9909
    @nat9909 Před měsícem +68

    All of these brexit consequences were predicted by respected economists. It would have been news if they hadn't.

    • @ms-jl6dl
      @ms-jl6dl Před měsícem +2

      Not all things that happened after brexit are caused by it. And all leading economists were saying "nothing to see here" in sept.2008.
      Their opinions and predictions fall under the horoscope section of the Financial Times.

    • @esterhudson5104
      @esterhudson5104 Před měsícem

      So what…

    • @zagreus5773
      @zagreus5773 Před měsícem +5

      @@ms-jl6dl Wait, not literally everything that happened after Brexit is caused by Brexit??? Wow!!! Guess that completely disproves OPs point.... not.

    • @WestCoastAce27
      @WestCoastAce27 Před měsícem +1

      @@zagreus5773 did you sleep through the lockdowns?
      We get it - you don’t like waiting in line in Customs when visiting the continent. Grow up.

    • @robmckenzie9559
      @robmckenzie9559 Před měsícem +1

      ​​@@WestCoastAce27waiting in line is a pain, but the hamstrung economy is far more inconvenient for me.

  • @electricmiragemedia
    @electricmiragemedia Před měsícem +26

    I'm half British and I love my people, but perhaps our single greatest defining cultural aspects is to never aspire to being better.

    • @smoozerish
      @smoozerish Před měsícem

      Absolute nonsense comment.....the problem is brits love to screw each other over through unrelenting greed. I have not met meaner more hateful people than brits.

    • @ThyCorylus
      @ThyCorylus Před měsícem +1

      Look at modern British culture and media. No self believe, self flagellating and obsessed with importing American problems and politics.

  • @PBoyle
    @PBoyle  Před měsícem +6

    Thanks to our growing list of Patreon Sponsors and Channel Members for supporting the channel. www.patreon.com/PatrickBoyleOnFinance : Paul Rohrbaugh, Douglas Caldwell, Greg Blake, Michal Lacko, Dougald Middleton, David O'Connor, Douglas Caldwell, Carsten Baukrowitz, Robert Wave, Jason Young, Ness Jung, Ben Brown, yourcheapdate, Dorothy Watson, Michael A Mayo, Chris Deister, Fredrick Saupe, Winston Wolfe, Adrian, Aaron Rose, Greg Thatcher, Chris Nicholls, Stephen, Joshua Rosenthal, Corgi, Adi, maRiano polidoRi, Joe Del Vicario, Marcio Andreazzi, Stefan Alexander, Stefan Penner, Scott Guthery, Luis Carmona, Keith Elkin, Claire Walsh, Marek Novák, Richard Stagg, Stephen Mortimer, Heinrich, Edgar De Sola, Sprite_tm, Wade Hobbs, Julie, Gregory Mahoney, Tom, Andre Michel, MrLuigi1138, sugarfrosted, Stephen Walker, Daniel Soderberg, John Tran, Noel Kurth, Alex Do, Simon Crosby, Gary Yrag, Mattia Midali, Dominique Buri, Sebastian, Charles, C.J. Christie, Daniel, David Schirrmacher, Ultramagic, Tim Jamison, Deborah R. Moore, Sam Freed,Mike Farmwald, DaFlesh, Michael Wilson, Peter Weiden, Adam Stickney, Agatha DeStories, Suzy Maclay, scott johnson, Brian K Lee, Jonathan Metter, freebird, Alexander E F, Forrest Mobley, Matthew Colter, lee beville, Fernanda Alario, William j Murphy, Atanas Atanasov, Maximiliano Rios, WhiskeyTuesday, Callum McLean, Christopher Lesner, Ivo Stoicov, William Ching, Georgios Kontogiannis, Dru Hill, Todd Gross, D F CICU, JAG, Pjotr Bekkering, Jason Harner, Nesh Hassan, Brainless, Ziad Azam, Ed, Artiom Casapu, Eric Holloman, ML, Meee, Carlos Arellano, Paul McCourt, Simon Bone, Richard Hagen, joel köykkä, Alan Medina, Chris Rock, Vik, Fly Girl, james brummel, Jessie Chiu, M G, Olivier Goemans, Martin Dráb, Boris Badinoff, eliott, Bill Walsh, Stephen Fotos, Brian McCullough, Sarah, Jonathan Horn, steel, Izidor Vetrih, Brian W Bush, James Hoctor, Eduardo, Jay T, Claude Chevroulet, Davíð Örn Jóhannesson, storm, Janusz Wieczorek, D Vidot, Christopher Boersma, Stephan Prinz, Norman A. Letterman, georgejr, Keanu Thierolf, Jeffrey, Matthew Berry, pawel irisik, Daniel Ralea, Chris Davey, Michael Jones, Alfred, Ekaterina Lukyanets, Scott Gardner, Viktor Nilsson, Martin Esser, Paul Hilscher, Eric, Larry, Nam Nguyen, Lukas Braszus, hyeora,Swain Gant, Kirk Naylor-Vane, Earnest Williams, Subliminal Transformation, Kurt Mueller, KoolJBlack, MrDietsam, Saaientist, Shaun Alexander, Angelo Rauseo, Bo Grünberger, Henk S, Okke, Michael Chow, TheGabornator, Andrew Backer, Olivia Ney, Zachary Tu, Andrew Price, Alexandre Mah, Jean-Philippe Lemoussu, Gautham Chandra, Heather Meeker, John Martin, Daniel Taylor, Nishil, Nigel Knight, gavin, Arjun K.S, Louis Görtz, Jordan Millar, Molly Carr,Joshua, Shaun Deanesh, Eric Bowden, Felix Goroncy, helter_seltzer, Zhngy, lazypikachu23, Compuart, Tom Eccles, AT, Adgn, STEPHEN INGRA, Clement Schoepfer, M, A M, waziam, Deb-Deb, Dave Jones, Julien Leveille, Piotr Kłos, Chan Mun Kay, Kirandeep Kaur, Jacob Warbrick, David Kavanagh, Kalimero, Omer Secer, Yura Vladimirovich, Alexander List, korede oguntuga, Thomas Foster, Zoe Nolan, Mihai, Bolutife Ogunsuyi, Hong Phuc Luong, Old Ulysses, Mann, Rolf-Are Åbotsvik, Erik Johansson, Nay Lin Tun, Genji, Tom Sinnott, Sean Wheeler, Tom, Артем Мельников, Matthew Loos, Jaroslav Tupý, The Collier Report, Sola F, Rick Thor, Denis R, jugakalpa das, vicco55, vasan krish, DataLog, Johanes Sugiharto, Mark Pascarella, Gregory Gleason, Browning Mank, lulu minator, Mario Stemmann, Christopher Leigh, Michael Bascom, heathen99, Taivo Hiielaid, TheLunarBear, Scott Guthery, Irmantas Joksas, Leopoldo Silva, Henri Morse, Tiger, Angie at Work, francois meunier, Greg Thatcher, justine waje, Chris Deister, Peng Kuan Soh, Justin Subtle, John Spenceley, Gary Manotoc, Mauricio Villalobos B, Max Kaye, Serene Cynic, Yan Babitski, faraz arabi, Marcos Cuellar, Jay Hart, Petteri Korhonen, Safira Wibawa, Matthew Twomey, Adi Shafir, Dablo Escobud, Vivian Pang, Ian Sinclair, doug ritchie, Rod Whelan, Bob Wang, George O, Zephyral, Stefano Angioletti, Sam Searle, Travis Glanzer, Hazman Elias, Alex Sss, saylesma, Jennifer Settle, Anh Minh, Dan Sellers, David H Heinrich, Chris Chia, David Hay, Sandro, Leona, Yan Dubin, Genji, Brian Shaw, neil mclure, Francis Torok, Jeff Page, Stephen Heiner, Peter, Tadas Šubonis, Adam, Antonio, Patrick Alexander, Greg L, Paul Roland Carlos Garcia Cabral, NotThatDan, Diarmuid Kelly, Juanita Lantini, hb, Martin, Julius Schulte, Yixuan Zheng, Greater Fool, Katja K, neosama, Shivani N, HoneyBadger, Hamish Ivey-Law, Ed, Richárd Nagyfi, griffll8, Oliver Sun, Soumnek, Justyna Kolniak, Vasil Papadhimitri, Devin Lunney, Jan Kowalski, Roberta Tsang, Shuo Wang, Joe Mosbacher, Mitchell Blackmore, Cameron Kilgore, Robert B. Cowan, Nora, Rio.r and Yoshinao Kumaga.

  • @lovethomassowell
    @lovethomassowell Před měsícem +4

    Well researched and well presented. Thank you, Patrick!

  • @Ferdinand208
    @Ferdinand208 Před měsícem +62

    A 110 degrees bed. I love it when my bed boils me.

    • @g6otu
      @g6otu Před měsícem +10

      It's Merican units

    • @Ferdinand208
      @Ferdinand208 Před měsícem +4

      @@g6otu Fahrenheit seems German to me...

    • @MacAnters
      @MacAnters Před měsícem +5

      ​@@Ferdinand208and it was created in the Netherlands

    • @Ferdinand208
      @Ferdinand208 Před měsícem +4

      @@MacAnters Daniel Gabriel Fahrenheit was geboren in Polen en opgegroeid in Duitsland. Nederland gebruikt gewoon Celsius en Kelvin.

    • @MacAnters
      @MacAnters Před měsícem +1

      @@Ferdinand208 opgegroeid in Amsterdam en leefde vooral in den haag*

  • @vitaliisymon
    @vitaliisymon Před měsícem +4

    Brexit is my favourite reality show, I couldn't even imagine I'll get to Season 3

  • @kenwilliams3279
    @kenwilliams3279 Před měsícem +5

    I love the way you can hear when the sponsor spot is in the video. Not from the words, but Patrick's tone sounds slightly positive for a time 😂 keep up the great work Patrick :)

  • @nothingbutchappy
    @nothingbutchappy Před měsícem +176

    London rich people wanted their tax havens... Convinced the poor that Europe was to blame for their poverty... Well done Boris...

    • @volvo09
      @volvo09 Před měsícem +18

      And they can just up and leave when they want...
      Same as politicians in the US pushing regulations that only increase crime and poverty in the poor areas, as they live in gated communities and can leave when they want....

    • @postyoda1623
      @postyoda1623 Před měsícem +5

      Humans' inability to correctly diagnose their own malaise never ceases to amaze.

    • @simonweekes3068
      @simonweekes3068 Před měsícem +13

      But the UK isn’t a tax haven. Ireland is, and it’s still part of the EU, so I’m not sure what your point is.

    • @giansideros
      @giansideros Před měsícem +5

      @@simonweekes3068 he's refering to the Crown Dependencies.

    •  Před měsícem +5

      @@simonweekes3068 LOL

  • @youweicheah
    @youweicheah Před měsícem +3

    Instead of focusing on attracting talent from other countries, the UK seems to unconditionally take in migrants from third-world countries or refugees from war-torn regions who more often than not possess few skills. This make the economic situation even more tricky.

    • @kou9031
      @kou9031 Před měsícem +1

      Cowardland 😂😂

  • @BlackSheep703
    @BlackSheep703 Před měsícem +2

    Just popped in to say yes we have fallen behind. We're also losing some of our best and brightest to Australia, the USA , Canada, New Zealand and South Africa.

  • @hoodiesinthesummer
    @hoodiesinthesummer Před měsícem +1

    The line about surveys being akin to work killed me.

  • @aaronb8698
    @aaronb8698 Před měsícem +7

    Love your videos and the incredible articulate composition. Would love to request video on monopolies vs compitition in ecomimies for long term growth.

    • @Statek63
      @Statek63 Před měsícem

      Polish your English ! 🙂

  • @kennethvenezia4400
    @kennethvenezia4400 Před měsícem +6

    Always top shelf, A-1 analysis. Thank you Patrick. While it gives me no pleasure in saying Goldman is right. Goldman is right🤑. The bigger drags on the economy have not even been fully implemented. Britain needs real trade deals. It needs to get its border policy in place so other nations can even consider a trade deal. NHS, sewege, wasting money on Rwanda. I haven't seen one serious policy put forth by the government. While they play try to win the election games, the nation is becoming a third-world for many people. At this rate, it will continue and probably get worse. What happens when Scotland says enough? What happens in Ireland? Some political heads need to be removed from some political asses and get serious here. The problems will not stop from coming Britain's way

  • @Doweyyy
    @Doweyyy Před měsícem +2

    It's so over Patrick! We fell behind a long time ago.

    • @Newtube_Channel
      @Newtube_Channel Před měsícem

      There is still time bake your own biscuits and cookies. All that remains is bringing over the tea.

  • @SueFerreira75
    @SueFerreira75 Před měsícem +10

    The UK was falling behind 50 years ago, when I moved to North America.

    • @MarcosElMalo2
      @MarcosElMalo2 Před měsícem +7

      They had a shit post war period until the sixties. So I think some of the issues were there before. I have to wonder how much of the UK wealth was based on colonial power and they just cruised on it until it ran out.

    • @WestCoastAce27
      @WestCoastAce27 Před měsícem

      Exactly. The author is living in the past.
      Not sure bragging about the financial sector is smart; grifting off others’ work, taking 2-3% as a ‘trusted intermediary’. Oh, and money laundering for 3rd world dictators…

    • @elifuentes7070
      @elifuentes7070 Před měsícem +1

      @@ae112 How? Will India have a $30 Trillion economy in 2030?

    • @SueFerreira75
      @SueFerreira75 Před měsícem +5

      @@MarcosElMalo2 The debts incurred from WW1 and WW2 were devastating and the independence of the colonies also put nails in the coffin of the UK.

    • @thelight3112
      @thelight3112 Před měsícem +1

      ​@@ae112"India superpower 2020"

  • @alexnakos5825
    @alexnakos5825 Před měsícem +4

    How did Paris overtake London two years ago as the largest stock market in Europe, and according to UBS in 2024 UK is 3.7% of world stock market value while France being 2.8%?

    • @jimpaddy79
      @jimpaddy79 Před měsícem +5

      Pretty sure he said they over took them in-terms of annual value of IPOs, he even said in the video that the UK is the third largest after USA and Japan.

  • @jabberwockytdi8901
    @jabberwockytdi8901 Před měsícem +13

    Britain has been falling behind for a long time but that accelerated in 2016 because the inward invesment that had been keeping the economy going largely stopped....

    • @Carl-hs420a
      @Carl-hs420a Před měsícem +4

      We were a rich nation, .....and then we entered into two great wars, gave up Suez, and became the American's lap dog, and it cost us everything. Brexit was a dent in an already totalled country.

    • @thetigerii9506
      @thetigerii9506 Před měsícem +2

      ​@@Carl-hs420anow you are being colonised by those who you once colonised :D

    • @ScoobySnacksYum
      @ScoobySnacksYum Před měsícem +3

      Austerity policies certainly inflicted incredible injury. It’s as if the UK economists never heard of Keynes!

    • @ScoobySnacksYum
      @ScoobySnacksYum Před měsícem +5

      ⁠@@Carl-hs420aRubbish. The US has been a loyal, supportive ally to the UK. The fall of the Empire was inevitable. There was no way for the UK toto hold onto the Suez canal any more than the US could keep the Panama canal.
      Post WW2, the US Marshall Plan provided billions to Western Europe to rebuild. Germany became a rock star with an incredible manufacturing sector. It created an excellent, free education system. So, be honest. The UK suffers because its leadership failed its people. UK citizens voted for disastrously incompetent politicians and Brexit.

    • @coloradoing9172
      @coloradoing9172 Před měsícem

      ​@@Carl-hs420aWah wah wah, it's our fault as per usual. Sigh.

  • @mattanderson6672
    @mattanderson6672 Před měsícem

    Thanks Patrick

  • @jannetteberends8730
    @jannetteberends8730 Před 22 dny

    That salad between Johnson and Sunak was a nice touch

  • @SpentAmbitionDrain
    @SpentAmbitionDrain Před měsícem +3

    I would love a video discussing the concept of productivity of a nation.

  • @kartikshiroya2270
    @kartikshiroya2270 Před měsícem +23

    UK has been fallen since the end of WW2 😅😂

    • @JCDenton3
      @JCDenton3 Před měsícem

      Exactly, I always laugh when I listen to Churchill's famous speech where he says "if the British Empire were to last 1,000 years they will say this was her finest hour" when in reality he was in the process of destroying that empire and giving it part and parcel to the USA, lol. Britain is essentially dead going forward, completely irrelevant.

    • @longiusaescius2537
      @longiusaescius2537 Před měsícem

      What country? Shiroya???

    • @WestCoastAce27
      @WestCoastAce27 Před měsícem +1

      Exactly. Brits overinflated sense of worth is hysterical. No innovation. But they’ll always have the EPL! (note: foreigners make up much of the talent… GBR hasn’t won the World Cup since… before most people reading this were born)

    • @neozeed8139
      @neozeed8139 Před měsícem +1

      Crimea. It ended long before. 1917 finished off all of Europe anyway. It’s all gone

    • @longiusaescius2537
      @longiusaescius2537 Před měsícem

      @@neozeed8139 that's cope, late 1800s tbh or when Cromwell reversed something

  • @MykhailoUlianchenko
    @MykhailoUlianchenko Před měsícem +1

    Patrick, great material!
    Can you shed some light on productivity across the world and its effects on economics per country?

  • @PeakperformerEmil
    @PeakperformerEmil Před měsícem

    it's impressive how much research is being made for your videos. You dive really deep into the topic bringing up every possible aspect

  • @ItalyPaola
    @ItalyPaola Před měsícem +7

    Thank you, this is one of the best videos about rapping I saw so far!

  • @nohbuddy1
    @nohbuddy1 Před měsícem +10

    Who would have thought chopping a foot off hurts you in a foot race

    • @yorkshiremgtow1773
      @yorkshiremgtow1773 Před měsícem +1

      What was 'chopping off a foot'? Brexit??

    • @nohbuddy1
      @nohbuddy1 Před měsícem +1

      @@yorkshiremgtow1773 Yes

    • @yorkshiremgtow1773
      @yorkshiremgtow1773 Před měsícem +1

      @@nohbuddy1 Think about it: what does the EU actually do, that cannot be achieved by actual free trade and freedom of movement, in Europe?

    • @nohbuddy1
      @nohbuddy1 Před měsícem +1

      @@yorkshiremgtow1773 Which is why the UK government is doing so well?

    • @yorkshiremgtow1773
      @yorkshiremgtow1773 Před měsícem +1

      @@nohbuddy1 Sorry, but could you answer my question?

  • @_sh1123
    @_sh1123 Před měsícem

    Excellent food for thought, thank you!

  • @richdiana3663
    @richdiana3663 Před měsícem +1

    The world is in human overshoot and falling down.

  • @Blackgriffonphoenixg
    @Blackgriffonphoenixg Před měsícem +9

    If we were to only take London out of the equation, Britain is about as poor as Mississippi.
    And judging by how the Tories want to force half the people on welfare back into the job market, "get rid of" the other half, and still dumbfoundedly wonder why people got sicker since 2019...
    Let's just admit that Anglos leaving the EU means less dead weight for the continent to handle, as cynical as it sounds.

  • @TheKid_88
    @TheKid_88 Před měsícem +3

    I was visiting London for the first time earlier this year….I was shocked how many black people and arabs live there. I thought I was in some Middle East garbage country😂

  • @flat6croc
    @flat6croc Před měsícem

    Excellent, if depressing, video, Patrick. Thank you.

  • @jamesg2382
    @jamesg2382 Před měsícem +1

    Thank you. Super interesting analysis

  • @Mobius_Pizza
    @Mobius_Pizza Před měsícem +5

    I left UK 2 years ago and feel bad and angry for those who were deceived by Brexit politicians. This is most unfair to those young people who couldn't vote.

  • @ZombieMax
    @ZombieMax Před měsícem +7

    The price for a heated blanket... And a subscription with that !

  • @favjr
    @favjr Před měsícem

    Thanks for this. Very prescient.

  • @ALObtuse
    @ALObtuse Před měsícem +1

    Odd how all people from all places are equally as productive?

  • @Kaizen917
    @Kaizen917 Před měsícem +5

    Brexit feels more like a cog in the whole downward spiral than the main culprit. But its more poetic it happened since there is an element of comedy when any consequence from it, is by choice.

    • @dawnfire82
      @dawnfire82 Před měsícem

      Everyone likes to forget what motivated Brexit: repeated orders by unelected Eurocrats that commanded a supposed sovereign power to micromanage its peasants. A counterfactual (and therefore logically unsound) 5% loss in growth is worth independence from meddlesome petty tyrants. They banned bananas that curved too much. They threatened to prosecute people who claimed drinking water prevented *dehydration* (whose literal definition is 'not having enough water'). There were many, many more. It was effing ridiculous. Some such measures were even passed out of spite (like banning the sale of products with British imperial measurements), taunting Brits who had long threatened to leave the EU but never did.
      The tragedy is that the British have done NOTHING with this new economic and political freedom except crack down harder and harder on wrongthink. They broke free of the prison only to hang themselves out of stupidity.

  • @markuswunsch
    @markuswunsch Před měsícem +8

    5:24 ...and as additional bonus the app will then also unlock the next level and adjust heating to Boyle-ing temperature.

  • @verttikoo2052
    @verttikoo2052 Před měsícem +1

    Wow that brown water looks bad 😮

  • @Boonmepanich
    @Boonmepanich Před měsícem

    Very informative! Cheers!!

  • @chrisdiboll2256
    @chrisdiboll2256 Před měsícem +27

    Productivity isn’t going to recover while an ever shrinking workforce is required to turn over an ever growing share of resources to an ever increasing cohort of pensioners.

    • @dfgdfg_
      @dfgdfg_ Před měsícem +3

      And landlords

    • @flat6croc
      @flat6croc Před měsícem +3

      @@dfgdfg_ Why are landlords a problem? A far higher proportion of people rent their homes in Germany than the UK. The US is about the same as the UK. France is about the same. I'm afraid the facts don't support any suggestion that the UK's problem has anything to do with landlords, no matter how fashionable the idea is in some circles.

    • @noleftturnunstoned
      @noleftturnunstoned Před měsícem +3

      ​@lairdinho I would say it is because it is a simple example of the haves extracting money from the have-nots. Having multitudes keep more of their income might allow them to spend that money as opposed to it being sequestered in a relatively wealthy person'd bank account.

    • @flat6croc
      @flat6croc Před měsícem +1

      @@noleftturnunstoned But this video is about the UK's problems. How is it relevant to that given that the US is even more biased towards the rich getting richer than the UK but the US economy and productivity is doing so much better. It's obvious from the US that the UK's problem is not the rich.

    • @noleftturnunstoned
      @noleftturnunstoned Před měsícem +3

      @@flat6croc You know, there are too many inconsistency in what you have said for me to give an adequate explanation. Where in my comment did I mention the US?

  • @HitAndMissLab
    @HitAndMissLab Před měsícem +4

    Thanks Mr. Boyle, a very good one.

  • @permafrostyx
    @permafrostyx Před měsícem +2

    Good vid patrick 😁👍

  • @robertridley-fj8zz
    @robertridley-fj8zz Před měsícem +2

    Patrick's next two planned videos are I believe "Investigating the Comedy Potential of Papal Headwear", and " What are Bears Preferred Defecation Locations".

  • @ExilSvensk
    @ExilSvensk Před měsícem +11

    Maybe importing people from unproductive countries has an impact on over all productivity, as well as the motivation of the host people to work when they see everything go down the drain and feel as foreigners in their own homes....

    • @deezeed2817
      @deezeed2817 Před měsícem +2

      It's easy to blame migrants but the truth is that there's long term economic structural problems that will see the UK eventually become irrelevant. Ageing population and the loss of the manufacturing base all play a part. Why did the UK engage in imperialism in the 1st place and was a superpower? Because its manufacturing base was advanced and it exported stuff the world wanted. All of that has gone elsewhere and it's not a country of natural resources like Saudi Arabia nor does it have a geography where it's close to the emerging markets. It's severely hampered and disadvantaged and has at most 10-15 years left until the lights go out and by then immigrants will look elsewhere as the pound sterling no longer is a major world currency.

    • @emberplate
      @emberplate Před měsícem

      ​@@deezeed2817Agree, but its a fair point that mass migration of 0-skilled labor is making the economy bottom heavy. Strain of public services and housing shortages makes skill, high paid labor want to leave. Its not the cause of Britains woes but its speeding up the decline massively.