JunkBond

Wasn't the current governor of the BOE chairman of the FCA at the time? Seems like we are in safe hands then!

Wasn't the current governor of the BOE chairman of the FCA at the time? Seems like we are in safe hands then!

Wasn't the current governor of the BOE chairman of the FCA at the time? Seems like we are in safe hands then!

I'd say all of the UK's current issues can be laid at the doorstep of three eras.
1) The Atlee government came to power after WWII. The country was broken and close to bankruptcy (but then so was Germany - who took a different path to us).
A bold vision was taken by the new Labour Government - wholesale nationalisation. Their ideals were genuine and sincere, to improve the lot of the working classes (and everyone else too - trickle up if you like). The NHS etc. 
But as good as it might have started out, it had an unintended consequence.
The complete nationalisation of all those industries left them in a position where they could rely on Government funding and assistance to survive rather that having to innovate and stay competitive.
Megoliths like British Leyland became zombie companies relying on state aid.
The other consequence was that bringing politicians into running companies brought in opportunities for them to either make a mint on the side or call in the bean counters and cut, cut, cut. See Dr Beeching, Ernest Marples or the fact that Harold Macmillan became known as Mack the knife.
2) The 1970s saw loss after loss, so then came Thatcher in the 1980s and decided to sell off all our industries and utilities to foreign investors. It was cheaper, quicker and easier to cut the dead wood and just buy it from abroad. Rather than actually identify areas for growth, support and invest in those and build new industries.
Unfortunately, closing down or selling off all these companies, also meant that we became a service sector economy - a nation of bankers, shopkeepers and middlemen - buy from abroad, whack on a profit and sell on. You can't run an economy long term like that. Any issues in the country you're buying from and you are directly affected with little control to stop it. See Germany's current problems with buying all their gas from Russia.
3) 2007-2008 saw the banking crisis and the creation of quantitative easing and vast currency creation. Turning the UK into a zombie economy.
The other day on the TV there was a politician saying, "we need to make credit easier for people to get, so they can pay the bills". Now if you can't see what's wrong with that, then there's no hope really is there?
So everything these days is based on debt and obtaining credit - so no real growth or assets then? No actual wealth creation?
This is before we get to uncontrolled immigration and housing/NHS pressures (another unintended consequence of the Atlee government making the welfare state and NHS so appealing).
I don't really see any answers to these problems and the politicians are the greatest instrument in all of this.

Wasn't the current governor of the BOE chairman of the FCA at the time? Seems like we are in safe hands then!

Calm down lads it's just the £ collapsing.

Calm down lads it's just the £ collapsing.

Calm down lads it's just the £ collapsing.

Calm down lads it's just the £ collapsing.

Calm down lads it's just the £ collapsing.

Calm down lads it's just the £ collapsing.

Calm down lads it's just the £ collapsing.

Calm down lads it's just the £ collapsing.

Calm down lads it's just the £ collapsing.

Calm down lads it's just the £ collapsing.

Calm down lads it's just the £ collapsing.

Calm down lads it's just the £ collapsing.

Local jeweller find this afternoon

Not as yet, I have put pm's on the back burner for now, going to concentrate on paying the gas bill. 😂

Sput up 12% and counting 

No idea why we have had an upward move but I bought more UUUU on Monday at $5.65 so feeling pretty pleased.

I seldom post on this thread, in fact - only one post so far - but i felt it was time to make it 2 posts.
A massive thank you to @arphethean for a great trade-in deal to enable me to own this beauty... 🥰

 

My first 1oz Gold Bullion coin 😁 🥳 🎉 - keep looking at it like it's all dream and it'll vanish!
You were all right - they are amazing in hand, so much nicer than any picture - especially with my dodgy photo skills 🤭
Never thought in a month of Sundays would I be able to make a post like this, but with the help of quite a few members on the Forum (especially Mr Hoover himself - @James32 for the encouragement to go for this lovely coin & @Paul for convincing me even a 'normal' geezer like me can do it!).  I've bought wisely, sold occasionally and finally traded my way to a 1oz Gold Britannia - Thank you all, it's much appreciated 👍
Bob

Not as yet, I have put pm's on the back burner for now, going to concentrate on paying the gas bill. 😂

Not as yet, I have put pm's on the back burner for now, going to concentrate on paying the gas bill. 😂