ipl-logo

Will The Uk General Election Create A Time Bomb Essay

510 Words3 Pages

Will the UK general election create a 'time bomb' effect? The 2015 UK general election is set to be one of the most closely contested in British political history. The division within the country has become more and more evident as the race to 10 Downing Street has irked towards its conclusion. Many believe that no matter the result the UK economy will calm down following the result, but there are some who think crisis could be on the horizon. Uncertainty has reined supreme in the run up to the UK general election, with televised debates only adding to the drama. However, there is an argument being put forward by a top city analyst that is drawing plenty of media attention. Albert Edwards, chief global strategist at Société Générale, believes that whichever government wins the UK general election; they will face a race against the clock to diffuse “a ticking economic timebomb”. …show more content…

Edwards states that the coalition government, while successful in some areas, will end power with “grotesquely wide deficits still in place in both public sector finances and external imbalances”. What he is addressing is that UK’s well-known twin-deficit problem. This is issue presents a challenge to the new government whoever it may be, largely as the figures aren’t impressive. Comparing the UK to other nations who were heavily affected by the 2008 financial crisis, the 10% of GDP doesn’t look so great, with 5% for the US and 8% for Japan. Speaking on the state of the UK economy Edwards said, “It is not because the public sector deficit cutting has worked as the government claim, but because, for the last three years, the government has quietly abandoned all pretence at fiscal cuts, kicking the can into the next

Show More
Related
203 Words | 1 Pages

The charge about the old days of the American economy—the nineteenth century, the “Gilded Age,” the era of the “robber barons”—was that it was always beset by a cycle of boom and bust. Whatever nice runs of expansion and opportunity that did come, they always seemed to be coupled with a pretty cataclysmic depression right around the corner. Boom and bust, boom and bust—this was the necessary pattern of the American economy in its primitive state. In the US, in the modern era, all this was smoothed out.

Read More
710 Words | 3 Pages

This quote exemplifies how America’s debt was no longer an embarrassment and people bought without concern for consequences. With a mindset such as this, it was inevitable that the day would come when the economy would face these repercussions of speculation. On October 29,

Read More
1189 Words | 5 Pages

Throughout the history of The United States the government has taken various actions to address the troubling circumstances with the nation’s economy. Two actions that addressed the nation’s ever so troubling economic crisis at the time include Regan Era Tax Cuts and President Franklin D. Roosevelt’s “New Deal”. These actions were proposed to society during two time periods where American citizens were facing an immense amount of strife and despair, the two plans offered hope and a plan of relief to the economy. The New Deal during “The Great Depression” and Regan Era Tax cuts which was during a terrible recession both provided a breath of fresh air during a time period where American’s and the economy were at an ultimate crisis and standstill

Read More
1052 Words | 5 Pages

This is where Brooks is wrong. He puts a negative tone on the progression of America because of the economic downturn. If you analyze the business and economic cycles, from when our country was founded to present, you can see that we have experienced awful depressions, but also really great periods of triumph. I believe Brooks is also biased on blaming the Democrats for the failure of economic prosperity. In order to bring a call to order, you must not blame one party, but offer a proposal to resolve the issue.

Read More
697 Words | 3 Pages

America now also holds 188% more debt than before, which is believed to never be able to be paid

Read More
1077 Words | 5 Pages

The Major years saw the UK pull out of the European Exchange Rate Mechanism (ERM) as it could not stop the pound from falling below a lower limit. ‘The subsequent prosperity of the U.K. during the mid-1990s was seen as happening in spite of government policy’ (Kenton, 2008). On foreign policy, Major’s administration will always be overshadowed by their actions (or lack of) over the Bosnian War. Many viewed the British Policy of non-intervention as fundamentally wrong, including one of the UK’s closest allies, the USA. Furthermore, polling done by Ipsos in July 1995 suggests 65% of the British public were dissatisfied with the government’s handling of the Bosnian War.

Read More
731 Words | 3 Pages

In response to the debt, the government

Read More
919 Words | 4 Pages

This meant the government will actually make their money back and not add to the national debt. Fourth funds allotted for each project should be actually and promptly spent and not held over until later years. This was to prevent more debt from

Read More
1508 Words | 7 Pages

Greife’s article employs selective evidence, leaving out how then conservatives are winning the national debt argument which gives the reader a skewed and incomplete view of the issue. Furthermore, with further research, Greife’s article turned up to be a blog. Finding your information from a blog is not an authentic source to use because anyone from everywhere can write any opinions they want on

Read More
242 Words | 1 Pages

In the article “Stronger Economy Cited as U.S. Reports Lowest Budget Deficit of Obama’s Tenure” by Julie Hirschfeld Davis she explains how obama’s administration announced that the Federal Budget Deficit fell to the lowest point ever since obama took over office. Although the deficit being at its lowest point is bad news they also said that the economy is strengthening which is good news. The Treasury Department and the Office of Management and Budget reported that In 2015 the FBD was $439 billion that is $44 billion less than last year. “Under the president’s leadership, the deficit has been cut by roughly three­quarters as a share of the economy since 2009 the fastest sustained deficit reduction since just after World War II,” Treasury Secretary

Read More
511 Words | 3 Pages

Another astonishing aspect; debt. Quindlen mentions that, “Today, Americans are overwhelmed by debt and the national savings rate is calculated, like an algebra equation, in negatives. By 2010 Americans will be a trillion dollars in the hole on credit-card debt

Read More
438 Words | 2 Pages

Economics is as much or more about confidence and psychology than it is about fancy macro or micro-economic theories. So here we are. Every time Henry Paulson opens his mouth, he spouts some more doom and gloom. The US and world economies are in ful fledge panic.

Read More
1052 Words | 5 Pages

Some people believe that what Montresor did isn't that bad, but bringing a drunk person to a vault, chaining them up, and then surrounding them in bricks so they die, that's pretty bad. The story of "The Cask of Amontillado" is a story where Montresor or also known as the narrator has thought of a plan to kill Fortunato, a wine-loving person. At the end of the short story, he surprises us by describing that he never got caught and that no one has disturbed those vaults in over a couple of decades. The short story proves the reader cannot trust the narrator in "The Cask of Amontillado" to accurately portray events in the short story because he acted all nice just to manipulate Fortunato into thinking he was his friend and then ended up killing

Read More
1735 Words | 7 Pages

Interest rates reached high double digits. Unemployment was rising” (Jones). All of these events game Americans no reason to be optimistic. The upset, however, game Americans a reason to look forward the future as America had just beaten the Soviet Union. Americans began to

Read More
788 Words | 4 Pages

In Steinbeck’s Grapes of Wrath, the common theme of exploitation and self preservation is displayed through the interactions between those characterized as “the monster” and the disenfranchised common people during the Great Depression. In chapter 7, the narrator is a head car salesman who is intentionally selling cars that are in bad condition and inflating the prices. The car salesman has multiple manipulative and deceptive techniques to sell these cars and he shows almost no regard for the fate of his customers. He knows that the people coming to buy cars from him are in dire need and vulnerable enough to accept whatever they can get, even if it means having to make monthly installments for a higher price, or accepting a car with a wrecked

Read More

More about Will The Uk General Election Create A Time Bomb Essay

Related Topics

Open Document