Brits may face DEPRESSION, say a few economists...

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Originally posted by: nullzero

Originally posted by: Skoorb

Originally posted by: nullzero
I tried to get some concrete numbers on how much food UK imports. I found this "About half the food on sale in the UK comes from abroad, and a new Agency booklet for local authorities on imported food regulation shows"
http://www.fsascience.net/2007/10/17/imported_food

I could easily see food shortages in the UK especially with a population over 60million. The UK depends on global trade and the world economy to keep it running. I would be very worried here in the U.S. if around 50% of our food was from abroad. If the rest of the world does not want your items to trade for food... (sterling pounds, manufactured goods, etc... you are screwed). I guess the UK government could trade weapons for food though... They have tough competition in that field with the U.S., China, and Russia though.

The UK is not the only one who may be needed food aid though. Iceland, Ukraine, Lativia, and a couple other northern european nations may soon have to get food aid.

Food aid from who? They may import plenty of food but food aid goes to nations that cannot feed its people and the UK won't have that problem. If it did, who would be in such a great position to spare them food? The UK's climate isn't great but it has fed itself throughout history and has a first world infrastructure, so even if it falls down a great deal it will still be rich by world standards.

The U.S. maybe the one giving food aid. Just like the U.S. was the one that gave them aid and saved them from WW2. Infrastructure is aging rapidly in the U.K. most of it was built after WW2 and during the 50s.

Historically you are right the U.K. fed most of its population but this has changed with ravaging of the country side for real estate. It use to only import 20% of its food but now that number is closer to 50%. So the U.K. has a major problem on its hand if the sterling pound continues to rapidly devalue.

Back to "bread and dripping" for dinner, eat up, kids!

 

[nullzero]

Back to "bread and dripping" for dinner, eat up, kids!

Skoorb,

Looks like it may turn out like that soon at the rate the U.K. is going.

 

[chess9]

Dietary practices of the English have changed quite a bit post WWII. They have become more like the French and Italians, with their love of good food. As a consequence, they import a lot of fruits and veggies, especially from Spain, Africa, and S. America, JUST LIKE AMERICANS DO. The English, at any rate, are no longer known for their lousy food.

The sub-prime mortgage market has had less effect on the British economy than the speculation in products such as Credit Default Swaps, and other hedge/gambling type instruments. Also, in 2005 when I first went, they had rampant escalation of home prices, much like California. Your average Brit was sitting on almost a million dollar property! Last year when I went, property values had declined by 20% or more in many areas. Such huge drops ultimately affect the asset base of lenders, as has happened here. But, England is a small country-about 62 million people-so the effects have been profound. We have a lot more upper middle class people who can weather this storm. In England, you have Lords filing for bankruptcy!

I don't see a depression coming to America...yet. I see very hard times. Unemployment could reach 12%, which would be a serious blow. In Florida, unemployment is already over 8%.

-Robert

 

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Britain's recession will be deepest, IMF warns

Also, I just heard (though it happened earlier this month, right after Christmas), that Woolworths, which employed 30,000 went bellyup. Considering the UK's population, that is like the US losing a 180,000 employee company. The layoffs here have been bad, but if a 180k company went, I can only imagine how sour we'd be. Dayum.