In 1973, in response to the Yom Kippur War, OPEC introduced an oil embargo which caused prices to rise 300%. It ushered in an era of high inflation and political volatility. In 1979, the Iranian revolution caused another 300% rise in oil prices which caused a secondary inflation shock and the deep recession of 1981. …
Between 1991 and 1998, Russian GDP fell an estimated 40%. The transition to a free market economy was plagued by hyperinflation, rising poverty, falling life expectancy and social dysfunction. Whilst the average citizen saw a marked deterioration in the quality of life, a few oligarchs became intensely rich as they bought state assets at a …
Things We Get Wrong About the EconomyWatch this video on YouTube The Government doesn’t actually print that much money The Bank of England is notionally independent, but heavily regulated by the government. Have you ever wondered how much physical cash the Bank of England printed last year? The net amount of notes in circulation increased …
Just when you think it couldn’t get any worse, the threat of a global trade war has contributed to confidence in the UK economy plummeting to record lows. The IPSOS economic index is running at the lowest level since records began. But, it’s more than just international turmoil; dissatisfaction with the economy has been building …
Africa's Population Will Soar – Europe's Will CollapseWatch this video on YouTube A Huge Shift in Global Population is Coming – Africa To Overtake Europe. The world is going to change dramatically over the next 50 years. Currently, Africa has around 18% of the global population, but by the end of the century, this …
House Prices – What Happens Next?Watch this video on YouTube Here is a graph that often surprises me. If we adjust UK house prices for inflation, they are the same level as 2003. In other words, if you bought a house in 2003, ignore the effects of inflation, then the average house hasn’t increased in …
UK Households Set to be POORER by 2030Watch this video on YouTube After 15 years of stagnating living standards, a new report suggests that after housing costs, real disposable income are likely to continue falling for the next five years. The decline will be felt by all income groups, but those on benefits, poorer households, …
In April 2025, average UK energy prices will rise another 6.4%, leaving an average household cost of £1,849 which is £600 more than 3 years ago. It’s not just households experiencing a rise in energy costs, IL businesses face the highest cost of electricity in Europe. It is proving very damaging for the remaining industrial …