Comment by mark_l_watson

7 hours ago

Potentially, the raising interest rates because investors don’t trust the long term stability of the UK economic system (more spending on pro-war activities, sluggish economic growth, and higher than expected government borrowing) will crash their financial system.

I hope I don’t sound too selfish but I am a USA citizen, and I would rather worry about my own country’s medium-term financial future.

9 comments

mark_l_watson

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jalev  7 hours ago

The UK's financial system made it out battered but bruised in the 70s which were a magnitude worse than what we have right now (double digit unemployment, inflation double digit, interest rates at like 15%, an IMF bailout...). Any talk of the British financial system collapsing is as realistic as the S&P500 dropping 50% in the near future: sure it can happen but the chances are so statistically small you have a better chance of winning the lottery.

  • abecedarius  6 hours ago

    National debt to GDP was much lower in the 70s.

    You might be right that near-term disaster is unlikely, but comparing to a lottery win is ridiculous. Orders of magnitude off.

cryptonym  6 hours ago

Let's play a game

> Potentially, the raising interest rates because investors don’t trust the long term stability of the [Guess the country] economic system (more spending on pro-war activities, sluggish economic growth, and higher than expected government borrowing) will crash their financial system.

alex_duf  7 hours ago

>I hope I don’t sound too selfish but I am a USA citizen

The rest of the world is getting tired of worrying about the US's economical situation, whether it the dotcom bubble, the sub-primes, or now the potential AI bubble.

So apologies for being blunt here, but yes it does sound selfish to me

  • mark_l_watson  6 hours ago

    Yes, I do sound like a jerk. Difficult though to not worry about local bullshit a lot more than other country’s bullshit. While I care for every person on our planet, I spend more time thinking about the future of my children and grandchildren.

    • -1  3 hours ago

      As a Canadian, I disagree, don’t think you sound like a jerk with this comment. Makes sense to worry about local problems more than remote ones IMO. Of course I’d be more concerned about my own country’s interest rates than that of a foreign country.