The Uk’s Collapse: Is Anyone Paying Attention I UK’s Economy

#Uk #debt #collapse #recession #Britan #poverty #economy #MoneyMindedWorld #economics ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ⭑ Please Subscribe to Money Minded World 👉@MoneyMindedWorldOfficial?sub_confirmation=1 UK’s national debt is so huge that it is now estimated to be the same as its annual economic revenue. This is the first time this has happened since the country made a surprising recovery from its World War 2 debts. Britain owes a staggering amount of around £ trillion, and it still borrows up to £20 billion a year to cover up its deficits. There is only one way this road is taking them, and it doesn’t look nice. As interest rates go up, paying off debts becomes more expensive. Think about it: for every £100 a Brit pays in taxes, £10 is used to pay interest on what the country owes. That’s a big chunk of money. Is this really the best way to spend it? For the last few decades, as the West’s debts kept growing, economists have told us not to worry. To battle the rising debt, they came up with this idea called modern monetary theory. Basically, it says that countries can borrow as much as they want because they can just print more money to pay it back. And that’s kind of what the Bank of England, US Federal Reserve, and European Central Bank have been doing with something called quantitative easing. But in recent times, we are beginning to see that debt does matter. People who lend money to the government want higher interest rates. The £110 billion the UK spends on interest every year could be used to double the state pension for everyone. And that’s just the beginning of their debt problems Contents of this video: 00:00 - Intro 00:34 - Suffering from Success 02:16 - Grim Reality of the UK’s Debt Issue 03:26 - The Long History of British Debt 07:38 - Did Britain Really Win WW2? 09:32 - For Better or Worse? 11:01 - Conclusion The MORE you Know, The MORE you Grow !!! Successful people become successful by changing their mindset first. Enjoyed the video? Comment below! 💬 ⭑ Enjoyed? Hit the like button! 👍 ⭑ Follow us on TikTok: 👉 @moneymindedworld?is_from_webapp=1&sender_device=pc DISCLAIMER: 👉 All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please send me an email to “theinvestguideio@“ and we can sort it out.