Monday, 1 September 2014


One in six children in America live in poverty.

1. Half of working Americans are now earning less than they did 10 years ago, adjusted for inflation.

Pay is 23% less: report. / Don't be fooled by the false economic recovery

America's recovery is a 'false dawn,' says Stephen Roach

2. The UK's GDP is still 12% below its peak of 2008 without taking inflation into account.

When inflation is taken into account, the UK economy in real terms is 30% below the GDP of 2008.



England's economy has not recovered.

Between 2008 and 2013, U.K. GDP per person ... fell from 114% of the EU average to 106%.

UK Recovery


Samuel Tombs, senior UK economist at Capital Economics, says that the economic recovery is merely a 'statistical mirage' for many.

This is because "GDP per capita is still 5 per cent below its peak, while real wages are 10 per cent below their former high."


According to the 'Trading Economics' website:

If the UK was to have a constant growth of 3% in GDP, and with inflation running at 1.9% as it is presently, it would take the UK economy 25 years to attain the same GDP as of 2008 in real terms.

One of the 'big four' accountancy firms PwC has said that the UK's total debt, by 2015, will be a minimum of £10 trillion and could even exceed £11 trillion.

The Office for National Statistics states that if UK was sold tomorrow in its entirety it is only worth around £7 trillion.


Scotland is different.

First State's veteran Asian fund manager Angus Tulloch is among a group of 200 Scottish business leaders to have backed the case for Scottish independence.

The group has written a letter published in The Herald.

The letter says: "Scottish industry is often treated as a cash cow rather than a strategically important part of a more prosperous and fairer society.

"Scotland must look outwards to the world of opportunity that awaits us. A "yes" vote is the business and jobs opportunity of a lifetime for this and future generations."


The end of neo-liberalism. Yes.


Vote YES.

Vote Yes!


Vote YES!

1 comment:

  1. Falling GDP? No prob. Just bring in more immigrants.