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The UK economy is in a dire place right now. It has been stagnant since ’08, and the’Rachel from accounts’ budget has only worsened the situation. Interest on 30yr UK guilts has risen to 5.3 – 5.4% as per https://www.bloomberg.com/markets/rates-bonds/government-bonds/uk

What this means is that nobody wants to buy UK guilts (lend the UK government money) and so they have to pay a higher rate on the interest. Word is this is the highest in since around 1998.

On top of that, the budget has squeezed taxpayers and employers. Nobody wants to invest in the UK, and the China deal that ‘Rachel from accounts’ is raving about is in reality not worth anything. In the grand scheme of things, £600m is nothing. The UK’s debt is over £2 trillion. In short, it’s a nothing burger, pennies, and the Chinese probably came to that figure to shrug the chancellor off and get her away sharpish.

Dire.

But it’s not only China that doesn’t want to invest in the UK. Nobody does, and why would they? We have some of the highest energy prices (if not the highest) in Europe, and Starmer’s recent word salad about the UK becoming a leader in AI is delusional. Case in point:

Why would anyone invest into building computing factories for AI when the energy cost would mean losing money?

The UK is in recession. If not now, it soon will be. It’s just a matter of time before they admit it. This is why Rachel is so depressed.

There’s no way out.

But Labour remain adamant. They cannot and will not admit defeat. Nor will I defend the Tories. They too are guilty of the dire straits our economy is in.

But what happens next?

Other countries will lead the way in AI, production and growth whilst the UK will most likely continue to squeeze its middle class and businesses to fund the welfare state. If we are not living in a failed state yet (which I believe we are) we soon will be. Major reform is needed.

But until the two-party system is destroyed, nothing will change, and I am once again reminded of a recent comment by the Bank of England. They declared that pensions funds, hedge funds and insurance companies that needed access to a bailout by the BoE would be kept anonymous in order to avoid panic spreading through the market and financial system. Quantitive Easing is once again on the cards, ladies and gentlemen, just like in ’08. Only this time, the bankrupt, guilty parties will be kept secret.

2025 is going to be interesting.

So strap in, folks.

And enjoy the ride.