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How the U.K. broke its own economy

theatlantic.com

581–590 of 784 posts

Re: How the U.K. broke its own economy

#581
post #568

"These problems are obvious to many British politicians. Leaders in the Conservative and Labour Parties often comment on expensive energy and scarce housing. But their goals haven’t been translated into priorities and policies that lead to growth." I can't find this mentioned anywhere in the article, but the current imbalance of supply and demand and the resulting high prices is quite beneficial for parts of the real…

Why is the answer always more real estate, and not private ownership of housing? If you don’t live in it you can’t have it.

UK House ownership rates are pretty high, but they went down right after the global financial crisis, presumably because the banks had tighter lending rules: https://www.economicshelp.org/blog/214874/economics/why-its-...

House prices are also way up. Lots of people who own them really like this, but it makes it harder to become a home owner in the first place.

Re: How the U.K. broke its own economy

#582

"These problems are obvious to many British politicians. Leaders in the Conservative and Labour Parties often comment on expensive energy and scarce housing. But their goals haven’t been translated into priorities and policies that lead to growth." I can't find this mentioned anywhere in the article, but the current imbalance of supply and demand and the resulting high prices is quite beneficial for parts of the real…

This is absolutely key. The lobbies are very rich (because they own lots of land) and therefore very influential.

You don't even need lobbies. Anyone who owns a house isn't bothered by this, unless they are particularly fair-minded. It only affects people who don't own their own home, which is a much smaller voting group.

Re: How the U.K. broke its own economy

#583
This video explains who paid for Brexit and Trump: "Canadian company tied to Brexit and Trump backers" (2019) https://youtube.com/watch?v=alNjJVpO8L4&

Cambridge Analytica > United Kingdom: https://en.wikipedia.org/wiki/Cambridge_Analytica#Channel_4_...

"New Evidence Emerges of Steve Bannon and Cambridge Analytica’s Role in Brexit" (2018) https://www.newyorker.com/news/news-desk/new-evidence-emerge...

"‘I made Steve Bannon’s psychological warfare tool’: meet the data war whistleblower" (2018) https://www.theguardian.com/news/2018/mar/17/data-war-whistl...

Facebook–Cambridge Analytica data scandal: https://en.wikipedia.org/wiki/Facebook%E2%80%93Cambridge_Ana... ($4b FTC fine)

Re: How the U.K. broke its own economy

#584

Earlier quoted context omitted.

People forget that the natural landscape of Britain is forest. The enclosed fields people think are natural countryside are in fact an entirely human creation.

Ecologically, it is basically barren.

What? Pastures? Grassland are actually good for biodiversity.

Re: How the U.K. broke its own economy

#585

Earlier quoted context omitted.

> Why do many people assume that if someone thinks differently about a particular political issue they must have fooled somehow? politicians sometimes lie…? the £350 million a day bus springs to mind as one example. the amazing trade deals which will unleash our new economy were another. like, those things sound great. people wanted those promises to become real and believed the people who were saying those things co…

> politicians sometimes lie…? Most people are quite aware that politicians lie. It is a common trope in movies, tv and media generally. Politicians are quite disliked in the UK generally. So this idea that people blindly believe politicians is nonsense. > A study by King's College London and Ipsos MORI, published in October 2018 found that 42 percent of people who had heard of the £350 million claim still believed it…

i find your comment weird. hopefully my reply clarifies why i find it weird. probably not. i’ve drunk too much coffee today.

> I actually looked up the actual report (not the wikipedia summary). While much more people generally believe the 350 million figure voted Leave, there was a decent percentage of people that believed the figure and voted Remain.

64% Con/65% Lab leave supporters versus 32% Con/20% Lab remain supporters. so, 65%-ish (hand wavy representative stat) of leave supporters believed the claim, which was misleading / false.

65% x 52% = 34% of all leave voters (very back of a napkin maths here). that’s a sizeable chunk of people who believed the lie. enough people to possibly swing the vote, given there was only 2% in it. that’s enough to swing it if there was no bus claim.

> The Leave Referendum was about many things. It was partly about immigration, it was partly about sticking it to an entitled political class, part of it was about sovereignty. Making it about a figure on the side of the bus is asinine.

i completely agree.

but the bus is a great example of how people get lied to by politicians, who then potentially get their 34% of people convinced. which was the point i was trying to make. politicians lying has a significant impact on the outcome. it’s not solely responsible, but it has an impact. they bear some responsibility for the shit show we currently have now.

interestingly, the ipsos mori / KCL study confirms this somewhat

> you get downvoted for simply defending half the people in my country that voted a particular way.

1) commenting about the voting on comments is something we try to avoid doing here. have a read of the site guidelines to understand why (you’re a new user so i don’t know if you’ve seen them before or not)

2) people on HN generally speaking tend to be pedantic nerds like me who are probably somewhat on the spectrum somewhere and when they see a claim will call people out on it when it is wrong.

> Leave voters are least likely to answer correctly (16%) and most likely to wrongly think that European immigrants contribute less than they take out (42%).

> Leave voters are most likely to hold these incorrect beliefs: European immigration has increased crime; decreased quality of healthcare services; increases unemployment among low-skilled workers.

^ ipsos mori/KCL study

there’s your problem. you’re aligned politically with people who are, to put it plainly, more wrong about this subject than they are right. so when you try and defend your position on here, you are going to get significant pushback on claims because, frankly, a lot of the claims made by other people who voted the way you did are either wrong or misleading when they make their claims.

3) i wasn’t on the site in 2016 (did HN exist then? who knows). imagine what it would have been like back then!

4) i hope you stick around. compared to some commentators, you’re doing a bang up job with actually reading studies (which meant i’ve gone and read the study and learned something now! thanks!).

> So this idea that people blindly believe politicians is nonsense.

bonus round. most people don’t believe politicians. they do, however, vote based on who the sun newspaper tells them to vote for (well, until recently).

Re: How the U.K. broke its own economy

#586

Earlier quoted context omitted.

Everybody wants affordable housing until it’s their housing becoming affordable.

If only those people outside of my window would just "vote with their wallets" and stop demanding a roof to live under, demand would die down and prices would stabilize again. It's simple free market economics! /s

It is indeed simple free market economics: far more demand for housing than there is supply.

Re: How the U.K. broke its own economy

#587

This video explains who paid for Brexit and Trump: "Canadian company tied to Brexit and Trump backers" (2019) https://youtube.com/watch?v=alNjJVpO8L4& Cambridge Analytica > United Kingdom: https://en.wikipedia.org/wiki/Cambridge_Analytica#Channel_4_... "New Evidence Emerges of Steve Bannon and Cambridge Analytica’s Role in Brexit" (2018) https://www.newyorker.com/news/news-desk/new-evidence-emerge... "‘I made Steve B…

Furthermore,

"3.5M Voters Were Purged During 2024 Presidential Election [video]" (2025) https://news.ycombinator.com/item?id=43047349

They only "won" by like 1.5m votes.

Who's illegitimate? https://www.google.com/search?q=Trump+birthrarism

Re: How the U.K. broke its own economy

#588

Earlier quoted context omitted.

Declined relative to its peak in the 2010s. It's climbing again. Ironically the decline set in after Brexit. It's also way higher than it ever was back when Britain was monoracial.

GDP per capita growth [1] has been more or less flat since 2008. The time of the GFC. I think people are starting to forget what productivity growth even feels like it has been so long. Subsequent governments set immigration to infinity to make GDP go up, but this has further exposed the fact that per-capita it is flat. [1] https://www.macrotrends.net/global-metrics/countries/gbr/uni...

I remember when Tony Blair was elected and Gordon Brown proudly proclaimed "An end to boom and bust economics". I don't think many people realised this would be continuous bust with no boom ever.

Re: How the U.K. broke its own economy

#589
post #568

"These problems are obvious to many British politicians. Leaders in the Conservative and Labour Parties often comment on expensive energy and scarce housing. But their goals haven’t been translated into priorities and policies that lead to growth." I can't find this mentioned anywhere in the article, but the current imbalance of supply and demand and the resulting high prices is quite beneficial for parts of the real…

Why is the answer always more real estate, and not private ownership of housing? If you don’t live in it you can’t have it.

>> Why is the answer always more real estate

Because as the population grows, we need an equivalent amount of new housing. Short of that, we compete for limited inventory and prices rise.

Re: How the U.K. broke its own economy

#590

Earlier quoted context omitted.

Someone is going to have to, but currently as much as immigration is raising the UK population, GDP per person is declining.

Declined relative to its peak in the 2010s. It's climbing again. Ironically the decline set in after Brexit. It's also way higher than it ever was back when Britain was monoracial.

Brexit was around the same time as COVID, so hard to split the two.

>> It's also way higher than it ever was back when Britain was monoracial.

Yes, but the immigration model has changed. It used to be "let the best and brightest from around the world work and live in the UK" now it is "let anybody move here that is willing to work for less money".

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