UK could go 'Belly up' - Unemployment Crisis

Millions could lose jobs, warns former policy maker Blanchflower.

Former Bank of England Monetary Policy Committee member David "Danny" Blanchflower tells Robert Miller that the UK economy could go "belly up" with millions of job losses.

Source with Video

Here we have someone who used to work for the Bank of England admitting that our current economic and employment system could easily collapse in the near future. If things go as David Blanchflower says they very well could, we can expect a lot more hassle down the line.

Below we can see the Unemployment trend for the UK between late 2008 and late 2010.

Workers have been hit by an unexpected rise in unemployment and effective pay cuts as they face inflation at a two-year high and a weak economy, official figures show today.

- Shock rise in unemployment as workers hit by wage cuts

Things do not look that good economically at the moment..

Regardless of whether or not the UK goes 'Belly up' the US Dollar is bound to go belly up and that will certainly leave the UK and many other countries 'High and Dry'.

I never really saw myself seriously contemplating stocking up on non perishable food and water but the motto 'Better safe than sorry' really rings true to me at the moment.

I think its an engineered economical crisis specifically created to bring about mass unemployment and a reliance on the state. Sometimes I shudder in disbelief at my fellow Brits. What were they thinking when they voted Tory!!? Did they learn nothing from the Thatcher years...
If Cameron and his lapdog, Clegg, aren't brought to book soon they will ruin this country and it will take decades to get it back on its feet.

To be honest, with a debt ceiling crisis looming in the states, it'll be a toss up as to who crashes first!

Originally posted by CholmondleyWarner
I think its an engineered economical crisis specifically created to bring about mass unemployment and a reliance on the state. Sometimes I shudder in disbelief at my fellow Brits. What were they thinking when they voted Tory!!? Did they learn nothing from the Thatcher years...
If Cameron and his lapdog, Clegg, aren't brought to book soon they will ruin this country and it will take decades to get it back on its feet.

I have never felt an urge to vote in this fake system we call democracy

I have to agree with you, I think this whole crisis was orchestrated from the start.

I'm sure that when the world economy does go completely tits up, TPTB will be there pushing for a one world economy.

And we all know where that is heading...

Originally posted by beezzer
To be honest, with a debt ceiling crisis looming in the states, it'll be a toss up as to who crashes first!

Oh I agree.

We both seem to be teetering off the edge of equally savage cliffs..

Originally posted by beezzer
To be honest, with a debt ceiling crisis looming in the states, it'll be a toss up as to who crashes first!

Agreed. But Isn't it amazing that even that both America and the UK are bother verging on the brink of banfruptcy we can both still spend millions every month on the war in Afghanistan and in the UK's case, give 7 billion pound to put off temporarily the total collapse of Ireland...

Without any decent investment in any new wealth creation what else would happen..

I am sure they are expecting this since they planned the whole blooming thing in the first place.

And front loading the cuts in the UK is tantamount to asking for the masses to protest.

It certainly will be an interesting, if scary ride this year..

reply to post by CholmondleyWarner


Why would they even bother doing that? Let's destroy the country for lols. There was an interview with Ed Balls yesterday on sky about George Osborne's cuts. The presenter, Boulton, asked him what he would have done in the same situation. He said "I would have raised VAT, but I also would have raised national insurance as well." Basically the same as the current government, but more tax. Yes, our current government raised the tuition fee to £9000, but people forget that it was the previous government that instated tuition fees in the first place, instated the top up fee and was also planning on the same cuts to education as the Tory's.

I by no means support this government, but equally I do not support the previous government with all the blood on its hands

Originally posted by CholmondleyWarner
I think its an engineered economical crisis specifically created to bring about mass unemployment and a reliance on the state. Sometimes I shudder in disbelief at my fellow Brits. What were they thinking when they voted Tory!!? Did they learn nothing from the Thatcher years...
If Cameron and his lapdog, Clegg, aren't brought to book soon they will ruin this country and it will take decades to get it back on its feet.

How you gonna rely on the state if they are cutting benefits, privatising healthcare and reducing council services. I think the idea is now, you rely on yourself and the good nature of your fellow citizens in Camerons DIY Big Society.

reply to post by CholmondleyWarner


7 billion wouldn't put a dent in what Obama is spending. Try trillions!!!!

The guy is like a loser in Las Vegas betting that his last silver dollar will get him the jackpot at the casino!

reply to post by Griffo

The whole system is corrupt.
Whoever gets in its just a different side to the same coin!
We need a new way of doing politics in this country which would stop bent politicians goin in front of the populace and openly lieing to us only to reverse their policies for much worse ones the moment they get their feet under the table!

one small point, that chart is well off, the jobcenter send the unemployed on courses every 6 months or so, which in turn removes them from the unemployed list and adds them to a 'training' list, making it look like there are around half less unemployed people in the country.

the maya we're right this is the time of chaos, and frankly cameron can 'expletive removed'

have a nice day and also yea stocking sounds about right.

ed: the film 'inside job' (2010) covers the financial crisis from the horses mouth. I haven't personally seen it yet but I reckon it would be a good one to watch. for those who lack 20$/£ to buy the dvd, in the simplest terms I can put in english, yes the whole thing was created, how else do you think the entire planet went bust at the same time??




edit 2: except for china of course...

Originally posted by woodwardjnr

Originally posted by CholmondleyWarner
I think its an engineered economical crisis specifically created to bring about mass unemployment and a reliance on the state. Sometimes I shudder in disbelief at my fellow Brits. What were they thinking when they voted Tory!!? Did they learn nothing from the Thatcher years...
If Cameron and his lapdog, Clegg, aren't brought to book soon they will ruin this country and it will take decades to get it back on its feet.

How you gonna rely on the state if they are cutting benefits, privatising healthcare and reducing council services. I think the idea is now, you rely on yourself and the good nature of your fellow citizens in Camerons DIY Big Society.

No you end up being made unemployed then rehired to do the same job you used to do for a wage just so you can get your benefits! Its the beginning of slave labour in this country.

I always said this, they plan to make people do community work for thier benefits etc...

That is ludicrous, criminals are punished with community service ie picking litter, cleaning walls etc and they propose to do the same thing to people who have lost thier jobs.

So effectively you are being punished for losing your job, but have to do more hours than somebody who has actually commited a crime...

Sounds like a great idea to me...

ETA: This was in reply to CholmondleyWarner

Cameron and his inbred, privately educated set of cronies are intent on taking us back to a Victorianesque society and all the corruption and inequality that went with it.

Ed Miliband and the shambles he controls are little better and are essentially cut from the same cloth.

We need radical reform of the the electoral and parliamentary processes replacing the outdated, corrupt and dogmatic party politics system and handing control and accountability to the electorate.

reply to post by moosevernel


I'm on the dole (Yes, I admit it, and I'm not proud), and I have to disagree with you there. Honestly, I would definitely work for my money, providing it wasn't slave labour. I don't think I deserve anything for free, it's just that I need this money to pay for a few living costs I have, and I wouldn't be afraid of working for it. I genuinely want to contribute something, and this would, at least in a small way, accomplish that, for the time being. Although, I'd prefer to have an actual job

Anyway, I also think that proposal may put off a few of the leachers, who abuse the system and spend their free money on booze and fags- and that can only be a good thing.

Originally posted by ScepticalBeliever
reply to post by moosevernel

 

I'm on the dole (Yes, I admit it, and I'm not proud), and I have to disagree with you there. Honestly, I would definitely work for my money, providing it wasn't slave labour. I don't think I deserve anything for free, it's just that I need this money to pay for a few living costs I have, and I wouldn't be afraid of working for it. I genuinely want to contribute something, and this would, at least in a small way, accomplish that, for the time being. Although, I'd prefer to have an actual job

Anyway, I also think that proposal may put off a few of the leachers, who abuse the system and spend their free money on booze and fags- and that can only be a good thing.

So you would work a 38 hour week for £65 a week!!? Are you sane?
Its the likes of people like you who will allow the government to get away with these corrupt policies. If theres work there to be done then why not pay a decent wage to have it done? I'm not unemployed yet but if it does happen to me then theres no way in hell that I'll be working for nothing...

Originally posted by Freeborn
Cameron and his inbred, privately educated set of cronies are intent on taking us back to a Victorianesque society and all the corruption and inequality that went with it.

Ed Miliband and the shambles he controls are little better and are essentially cut from the same cloth.

We need radical reform of the the electoral and parliamentary processes replacing the outdated, corrupt and dogmatic party politics system and handing control and accountability to the electorate.

The political class has never been so out of touch with the citizens of the UK. There are hardly any working class mp's, most have been "trained up" from Eaton or Westminster school, onto Oxbridge, rubbing shoulders with their banker buddies along the way into politics. I can't see how things are gonna change too much in the future.

Originally posted by woodwardjnr

Originally posted by Freeborn
Cameron and his inbred, privately educated set of cronies are intent on taking us back to a Victorianesque society and all the corruption and inequality that went with it.

Ed Miliband and the shambles he controls are little better and are essentially cut from the same cloth.

We need radical reform of the the electoral and parliamentary processes replacing the outdated, corrupt and dogmatic party politics system and handing control and accountability to the electorate.

The political class has never been so out of touch with the citizens of the UK. There are hardly any working class mp's, most have been "trained up" from Eaton or Westminster school, onto Oxbridge, rubbing shoulders with their banker buddies along the way into politics. I can't see how things are gonna change too much in the future.

From cot to cradle a corrupt politician

reply to post by CholmondleyWarner


I specifically said if it's not slave labour. Work does not necessarily mean a 40 hour week, full-time job. Just look at the amount of people who have been forced to take up part-time jobs, due to a lack of full-time opportunities. I believe the figure is around 1 million.

It's not free, you'd be receiving some money from the government for doing it. Why is it wrong? At the minute, I'm awake for roughly 12 hours a day. I have no money to do anything social, I work out for an hour or two a day, eat, perhaps walk the dog, spend 30mins looking for a job, and spend the rest doing nothing (mainly surfing here ) What's the point of that? Why not contribute something? Personally speaking, sitting here doing nothing makes me feel even more negative about my prospects in this screwed up economy.

I'm not a door mat, but what's wrong with being a little bit selfless? Yes, the government would gain a few things from my compliance, but then again, so would the local community- or do you expect to be paid for picking up litter off your street, or doing something that someone other than yourself would benefit from?

reply to post by ScepticalBeliever


How about doing some voluntary work, choose a field that interests you and you would enjoy that time helping out in your community. Looks good on a cv too and gives you something to get up for. you only need do an hour a day or few hours a week