Garys Economics Why the UK and US governments will both fail.
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Feb 16, 2025 Political dynamics in the UK and US are shifting, with leaders like Starmer and Trump grappling with similar challenges. Despite strong economic indicators like GDP growth, many citizens face financial struggles, revealing a disconnect between statistics and reality. Wealth inequality has worsened due to COVID-19, leaving the poor behind. The critique of current tax policies and economic strategies highlights the need for equitable resource distribution. Listeners are encouraged to engage in the ongoing fight for economic equity.
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Differing Governments, Similar Fates
- The UK and US have new, seemingly different governments, one center-left and the other right-wing.
- Despite their differing policies, both will likely fail due to similar economic circumstances.
Labour's Managed Sensibilism
- Gary describes Labour's economic policy as "managed sensibilism," involving increased borrowing, taxing, spending, and investment.
- This approach, rooted in mainstream economic thought, aims to address a perceived productivity puzzle.
US Precedent
- The US Democrats under Biden employed a similar strategy of increased borrowing, spending, and investment.
- Despite higher GDP growth, public dissatisfaction led to electoral losses, suggesting the policy's limitations.