Johnson's populism has wrecked the UK. Fixing it is beyond any of his likely successors. Ireland's peculiar populism - Shinners in power but not (yet) in office - will lead to a fiscal crisis.
Johnson's populism has wrecked the UK. Fixing it is beyond any of his likely successors. Ireland's peculiar populism - Shinners in power but not (yet) in office - will lead to a fiscal crisis.
This has been a great discussion - thanks to all who joined in and I invite others to do so. Also, please tell your friends about the pod. Sharing it is the best compliment. Many thanks!
In order to establish a sovereign wealth fund you’d have to cut spending somewhere, which beggars the question: where? The realpolitik prevents this happening.
I think the only reason this was successful in Norway is the sheer scale of their oil wealth. Per capita it is only surpassed by the likes of Arab oil states. Our corporation tax or indeed the UK’s North Sea oil doesn’t compete with that. Per capita it’s higher than Saudi Arabia (according to my Google search).
In the coming decades, I can see generational politics becoming far more prominent, which may transcend the traditional left-to-right political thinking. As life expectancies continue to improve over time, each improvement is tacked onto the end of life which is the retirement phase - as opposed to each phase of one’s life increasing in proportion (e.g. by raising the retirement age!). Over the long term, medical inflation tends to run at around 4% above core inflation in Europe. So that’s medical costs soaring, with more retirees demanding medical care and not contributing towards the costs of it. Meanwhile, with security of home ownership and fixed income they tend to have, and their strength in numbers, leaves them free to elect any party that protects their interests at the expense of country’s economic health and prosperity of younger generations. I feel a storm brewing on this.
This has been a great discussion - thanks to all who joined in and I invite others to do so. Also, please tell your friends about the pod. Sharing it is the best compliment. Many thanks!
You’ve got them pegged totally, Sean!!
You have to hand it to Marylou and crew ... they are getting “the old brigade” to do their dirty work for them!!
Or could FG/FF be Machiavellian enough to bring the country to its knees before SF get in and then watch them try and recover ???😂
In order to establish a sovereign wealth fund you’d have to cut spending somewhere, which beggars the question: where? The realpolitik prevents this happening.
I think the only reason this was successful in Norway is the sheer scale of their oil wealth. Per capita it is only surpassed by the likes of Arab oil states. Our corporation tax or indeed the UK’s North Sea oil doesn’t compete with that. Per capita it’s higher than Saudi Arabia (according to my Google search).
In the coming decades, I can see generational politics becoming far more prominent, which may transcend the traditional left-to-right political thinking. As life expectancies continue to improve over time, each improvement is tacked onto the end of life which is the retirement phase - as opposed to each phase of one’s life increasing in proportion (e.g. by raising the retirement age!). Over the long term, medical inflation tends to run at around 4% above core inflation in Europe. So that’s medical costs soaring, with more retirees demanding medical care and not contributing towards the costs of it. Meanwhile, with security of home ownership and fixed income they tend to have, and their strength in numbers, leaves them free to elect any party that protects their interests at the expense of country’s economic health and prosperity of younger generations. I feel a storm brewing on this.
Downloaded for plane to Rhodes.analysys to follow👍😊