Sink or Spin?

13Oct16

 

brit

Britain is all at sea!

The British Government has invited plans for a successor to The Royal Yacht Britannia. Britannia wasn’t a “yacht” at all, it was an ocean going ship that was used exclusively by the Royal family. It was retired in 1997 because it cost too much to run.

Around 100 Tory MPs – one in three of the Parliamentary party – are backing a campaign for ministers to commission a panel to examine the case for a new ship.

Sir Gerald Howarth, a former defence minister, told MPs in a Parliamentary debate that the new yacht’s cost was “modest” compared to the annual £12billion a year aid budget. Is he REALLY suggesting that instead of spending money on aid which by definition currently only goes to people in desperate need, we should instead be spending some of those millions of pounds on a luxury ship for a family who are rich enough to buy their own “yacht”?

This is incredible news considering the crisis the UK economy is in following the Brexit referendum. Britain hasn’t even started the process of leaving the E.U. yet but already our economy is in free-fall because of it. The British pound is now a junk currency trading at record lows. Some people think things are OK because the share market looks like it’s going up. The thing is, it is going up BECAUSE the pound is weak! We live in a global economy, so when the pound is worth less, it takes more shares traded in pounds to make the equivalent in dollars or euros. The truth is that it’s not keeping up. Convert the share market rises to dollars or euros and you’ll see that the value of British shares is actually going down!

It reminds me of the spin radio stations use when their ratings show a big drop in market share. They point to an increase in “average time spent listening” but the average time spent listening always goes up when your number of listeners goes down, because the listeners you lose first tend to be the lighter users, who didn’t listen as long as your loyal listeners. Without them the average time spent listening goes up. That doesn’t mean people are listening to your radio station longer, it means you’re in trouble!

Advertisers don’t buy spin, they buy results and if radio advertising doesn’t get results they put their advertising budgets somewhere else. It’s the same with shares and currencies. If investors don’t get a return on their investment, they move their money to other places. Britain is not a safe place to invest in right now!

Brexit is bad for Britain and no amount of spin is going to change that and neither is building a new ship for an over-privileged, state-funded, nationalised family of celebrities.

Instead of a Royal Yacht, we need to think about The Good Ship Brexit Britain. It hit an iceberg when the 52% of the people who voted for us to leave the E.U. got their way. We won’t start the complicated negotiations to leave the E.U. for months but we’re already taking on water. Britain is a sinking ship.

If you can get out of Britain and move to another country, you should do it NOW before it’s too late.

There aren’t enough lifeboats for everyone!

Craic on!

Listen to the latest Mack Nuggets at;

http://www.mackmedia.co.uk/8th-mack-nuggets-audio-video

If you enjoyed this Craic, please click “like” and tweet a link. If you’d like to talk to me about it, call me on +44 1438 422106 between 6am and 9am (UK time) this week on BOB fm.

 

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