Obama's Economy

Bankruptcy: Is this the future of the UK no matter who is in power?

It seems that we are experiencing a global failure of the economic system and the professional political classes in all countries, not just a national failure specific to the UK or one particular party.

Greece and a lot of eastern European countries are likely to fall before the domino hits the UK. Ireland is probably worse off too.

IMO, the tory lead of doing nothing would perhaps have prevented the long term pain of major economic collapse in the UK. But the UK was always too heavily dependant on financial or “service sector” jobs to ever have good fundamentals of an economy. “service sector” jobs can just disappear into thin air. And it’s the manufacturing jobs that bring proper wealth into the country which have disappeared since the thatcherism of the 80′s which shipped nearly half of all manufacturing jobs overseas because they weren’t being properly protected.

In fact you could just argue a whole lot of economies in this crisis need to be readjusted.

There are many countries in Europe and world wide that are financially, economically and socially unstable. But the biggest player is perhaps the united states, which once fallen will cause a massive security destabilisation in the middle east, on the borders of Europe, Japan and many other places where it has strong military ties which will crumble once the economy of the united states implodes. Many of its states are bankrupt and its only a matter of time until the federal government crashes too.

Who will take their place as world leader?

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