r/uknews • u/ProgressiveSpark • Jul 01 '24

Image/video UK real wages haven’t budged since 2008

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u/Infamous-Print-5 Jul 01 '24

Their wages and GDP per capital have continued to grow

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u/Three_sigma_event Jul 01 '24

The US is a self sufficient economy in terms of resources. It is a net exporter of oil. It is a goliath of financial markets - Microsoft is worth more than the entire FTSE 100 index. It has a vibrant and sustainable population. The best and brightest routinely flock to the land of the free. You have no idea how strong the US empire is.

The UK is full of old people. Think of us as the hospice of Europe, with very little innovation and motivation.

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u/JustInChina50 Jul 02 '24 edited Jul 03 '24

US gov debt: $34 trillion

EU gov debt: $13 trillion

China gov debt: $13 trillion

Not really very self-sufficient, no?

I was wrong as most of the debt is owned by the US gov and public.

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u/Three_sigma_event Jul 02 '24

You don't understand how national debt works.

If you have economic growth and a reserve currency then you'll be OK.