The UK...First to go under?

There is much talk of the world plunging into the next Great Depression and particular focus has centred on the US crisis. As a UK resident I obviously pay close attention to the UK’s economic news but I also try to keep abreast of the situation in America. I have always assumed that the US would be first to fall and that the rest of the world would follow.

Recently however I have begun to reconsider this view. A country such as the UK might be the first to fall for numerous reasons. Now I hear there is talk of the UK losing its triple A credit rating. I believe Gordon Brown may be better than some other world leaders at hiding the true economic picture, and the UK may be heading for bankruptcy.

The article below details some of the problems us Brits are facing right now. Thoughts???

www.thisismoney.co.uk...

reply to post by MrBacon


My thoughts are that you better damn well hope that if the UK does lose their credit rating and start to crumble, some other nation doesn't do to your country what Brown did to Iceland just a few months ago. What goes around comes around, you see.

its very possible, but with the way our economy is set up globally

if UK falls we all fall, chain reaction, and it will be swift, perhaps within a week

lets hope we are all wrong about this lol

reply to post by burdman30ott6


Yes, we used terrorism laws for that one!!! I'm sure we have a few more enemies around the globe now.

reply to post by muzzleflash


I think it will be fast too, but I just always thought we'd see the US tumble and I would have a few days or maybe even weeks to finalise preparations.

Now I'm concerned that the other countries of the world will be watching in terror as they see the UK tear itself apart.

Actually I read somewhere that the first economic collapse was to happen in Japan.

reply to post by iamnot


Can you imagine the devastation in such a densley population place if things got really bad? If Japan is the first to go under, how long before it spreads globally?

UK is even in worse shape than USA.

Originally posted by MrBacon
Can you imagine the devastation in such a densley population place if things got really bad? If Japan is the first to go under, how long before it spreads globally?

Japan had 12% contraction of GDP in Q4 2008 (it's unofficial still) which is depression. Japanese export and industrial output have crashed.

Japan Exports Plunge Record 27% as Recession Deepens
www.bloomberg.com...

Several European states are already in depression.

[edit on 21-1-2009 by Vojvoda]

I saw on the news today the pound it at is lowest against the dollar at 1.27

It was not that long ago it was 2 to 1.

They are hurting too.

Japan is the one that is ahead then the EU.

Wait a minute,wait a minute...just one freaking minute...!

I'm hearing the same for us here.In other posts i read by americans the same thing.Either we're all,truly and honestly,screwed....or...lol i don't know.I guess my other thought is that they could just be saying the same to us (people around the world) like they have arranged to do so.


I don't know but i was thinking one of these days to make a thread with some thoughts of mine and this was gonna be included.

Im from the UK and most of my mates work places are quiet. I know that we are only busy because we have poached some work off a company that already went bankrupt.

I heard that our firm was offered a lot of work off JCB but we turned it away because of how the housing market is at the minute.

Unfortunatly we have 2 main customers who have both gone quiet, so poaching other firms work may be the only way we stay afloat. I work in Engineering and manufacturing seems to be taking a bit of a hit.

So if Japan's not in a depression yet it could well be very soon.

What will the real impact on residents be? Will there be rioting? Are we talking vast numbers dying from starvation and disease, a complete breakdown in society? Will the rest of the world come to their aid? Would horrific scenes on our televisions spur the governments of the world into action?

And would this necessarily cause a domino effect and accelerate the rest of the world's downfall?

I have very real concerns about the UK's economy. The issue of the AAA credit rating is discussed in this article. This is Money Article

...and when economists (Goerge Soros's mates at that) start saying...

"I would urge you to sell any sterling you might have. It's finished. I hate to say it, but I would not put any money in the UK."

then people should be alarmed.

The Guardian





[edit on 21-1-2009 by BarneyRubble]

[edit on 21-1-2009 by BarneyRubble]

reply to post by BarneyRubble


What does that mean to the British public? How will our lifestyles be affected? I guess I want to know how bad this is going to get and what the impact will be to my family, friends, neighbours.

This will go down well I think the tax payer own nearly all if not all of Northern rock and they are giving there staff a 10% bonus this friday with tax payers money - nice. Found the article in the other stories section of your link: www.thisismoney.co.uk...



[edit on 21-1-2009 by MCoG1980]

reply to post by MCoG1980


A bonus because Northern Rock made its repayments!!! Can we expect them to get a bonus every time they manage to pay back the taxpayer? What happens when they don't make the payments? Layoffs?

reply to post by MrBacon


Well at least there'd be less crappy English music that will be released when the UK does go under.