Peter Preston doesn\’t get it

The answer is that Britain is an astonishingly rich country.

Oh woes is us, horrors, terrors, taxes are up, incomes are down and the entire economy is laid waste.

Yet peeps are still out buying iPads and DS\’s.

How can this be?

Beause Peter, and I know that this will come as something of a surprise, Britain is an extremely rich nation by any current global, or any historical, standard.

Average GDP per capita for the world is currently about £5,000 a year. We\’re at four times that. We\’re at twice average GDP per capita in 1975 for the UK. Ten times what the average was in the UK in 1845. We\’re up 33% just in the years since Maggie let office.

The reason that, even in the current economic \”hard times\”, there are millions who can go out and buy gadgets and gewgaws is that by the general standards of humanity this country and the people in it are howlingly, stinkingly rich.

This capitalism/markets thing. Good, innit?

6 comments on “Peter Preston doesn\’t get it

  1. Its amazing – he seems to be arguing that people should have no money of their own and that politicians should decide where our money goes.

    Just a typical socialist – obsessed with other peoples money.

  2. Buying cheap gadgets does not make people rich but it makes them believe they are. That’s nice, but not sufficient.

    Life quality is the marker — how many kids people can afford (and dare) to have, does the wife need to work(or, more modern, can she afford a househubby), do they own a house(not a massive mortgage), how much money can they save,just to name a few signs of ‘real wealth’. (not many kids nowadays, not many own houses, not even mortgaged (avg ftb age: 37, almost past childbearing age), kids get 81 minutes parenting per day as women have to work to make ends meet, most people don’t have more than one month income saved, many have huge debts, and so on. On all those markers, the ‘rich West’ is dropping hard: no kids, no nests, nothing stashed in the larder..
    (and we’ll only briefly mention the NHS death panels here that exist to ration healthcare costs)

    “Average GDP per capita for the world is currently about £5,000 a year”

    Which is a meaningless figure as it does not take into account taxation and basic cost of living. Right now, the level of overall taxation in the UK is 75%, so… the 4 times as much actually only works out to be, umm, £5000 per year in ‘real money’.

  3. “On all those markers, the ‘rich West’ is dropping hard: no kids, no nests, nothing stashed in the larder..”

    And yet on council estates all across the UK, breeding is in full swing, and large families (kids mean benefits!) are the norm…

    This won’t end well. It never does.

  4. “We’re at twice average GDP per capita in 1975 for the UK… We’re up 33% just in the years since Maggie let office.”

    So – in the 15 years between 1975 and 1990, GDP increased by a total of 50%, and in the 21 years since it has risen by a total of 33%?

  5. How many are buying on credit tho’–take the borrowing out and how much real wealth is left with millions on benefits and “economically inactive”?

Leave a Reply

Name and email are required. Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.