UK Meltdown

I'm heading there to check it out

On the way to the UK for a conference on psychedelics and “the sentient other,” I am reading up on Britain’s economic woes. I knew things were deteriorating but I didn’t know they were getting this bad!

Last week, CNBC noted that, according to banks, Britain now ranks as an “emerging market country” due to “political instability, trade disruptions, an energy crisis and skyrocketing inflation.”  This means that, economically, it is similar to a country in the “developing world,” or what was once referred to as a Banana Republic. Former UK Prime Ministers warn that Britain is on the verge of becoming a failed state. 

According to Umair Haique, among others, the new government in Britain is accelerating the crash by seeking to implement a far Right Wing economic policy that even most bankers consider to be crazy. The plan involves borrowing hundreds of billions of dollars to fund tax cuts for the richest 1% of the population. This is meant to spur growth, in a return to Thatcher-ite policies.