#economy
When Governments Play Monopoly Without the Rules
#economy
When Governments Play Monopoly Without the Rules
Ah, the economy—where the government treats it like a game of Monopoly, but instead of actually trying to win, they just keep flipping the board and making new rules as they go. They’ll pass out "stimulus checks" like Community Chest cards, but somehow, you still can’t afford the rent on Park Place. Inflation rolls the dice and suddenly everything costs twice as much, but they assure us, "It's totally fine, just trust the process!" Meanwhile, the central bank is busy printing money like it's free parking, while everyone else wonders when the game will end—preferably without everyone going bankrupt. And when the economy goes off the rails? They just throw out a bailout like it’s a "get out of jail free" card. It’s like watching someone who’s never read the rules try to run the game, and somehow, they’re still convinced they’re winning.
LA County Faces Financial Crisis: Sex Abuse Settlement Costs Twice as Much as Devastating Wildfires
- Tuesday, 15 April 2025
Los Angeles County is facing a financial crisis due to a sex abuse settlement that will cost $4 billion, twice as much as the $2 billion spent on damages from devastating wildfires that killed 30 people and destroyed thousands of homes. The county's budget recommendation includes massive cuts to pay for the unprecedented financial challenges, with nearly 7,000 claims of sexual abuse in juvenile facilities since 1959 being settled.
UK Ministers Prepare Covid-Style Furlough to Shield Jobs from Trump Tariffs
- Saturday, 12 April 2025
Ministers are preparing to bring back a Covid-style furlough scheme to save thousands of jobs at risk if Donald Trump’s global trade war escalates. The measures aim to shield key sectors, including the car industry, that have been hardest hit by Trump's tariffs, which are now at their highest level since the 1890s. To aid British businesses, the Government has announced a package that includes expanding financing support for exporters and small firms through UK Export Finance and the British Business Bank's Growth Guarantee Scheme.
UK Economy Grows 0.5% in February Amid Global Uncertainty
- Friday, 11 April 2025
According to official figures, the UK economy grew 0.5% in February, exceeding analysts' expectations of flatlining activity after zero growth in January. The expansion was driven by increases in both services and manufacturing sectors, according to the Office for National Statistics. However, this data predates the launch of Donald Trump’s trade war and Labour's tax raid on businesses, which may have a negative impact on the economy.
UK Borrowing Costs Soar Amid Trump's Tariffs Carnage: Labour Sticks to Fiscal Rules
- Wednesday, 09 April 2025
Keir Starmer vowed that Labour would stick to its fiscal rules despite long-term UK borrowing costs reaching their highest level since 1998. The yield on a 30-year gilt rose to 5.518% amid global financial market carnage caused by US President Donald Trump’s tariffs, including a 104% levy on Chinese imports and 10% on UK goods. This led to a slump in the FTSE 100 index, which fell as far as 3.6% before paring back losses, finishing down 2.92% at a 13-month low of 7,679.48.
