Trump's Put a 'Bandaid on a Bullet Hole' | Bond Expert Explains US Debt

Aug 22, 2026 | “We need higher growth and some kind of fiscal reform.”

The US “is in the midst of an innovation revolution” while also carrying a very large debt burden, but it is the “average household” that gets hurt, says Mohamed El-Erian, one of the world’s most respected bond-market experts and chief economic adviser at Allianz.

Andy Burnham Outlines His Vision for UK Economy with Promise to Raise Living Standards • FRANCE 24

July 2, 2026 | Andy Burnham, the former mayor of Greater Manchester, is likely to be the next British prime minister following Keir Starmer's resignation. Central to Burnham's platform is improving living standards that have stagnated or even fallen since the 2008 global financial crisis. But with weak public finances, how realistic is his plan? FRANCE 24's Charles Pellegrin talks to Renaud Foucart, senior lecturer in economics at Lancaster University.

You Can't 'Put Britain at the Heart of Europe' After Brexit

Michael Lambert explains why.
Our politicians are clueless. Hardline Brexiteers are too. — © Mark Alexander

Michael Lambert: UK Decline: Why We Are Finished without This One Change

Feb 28, 2026 | Is the UK's decline now irreversible? After spending time in Bangkok, the contrast in quality of life, infrastructure, and national energy has made me realize just how far we’ve fallen in the ten years since Brexit.

In this video, I explain why "educating the masses" won't work and propose a radical new "Truth & Honesty" law. We need to make lying expensive for newspapers, politicians, and social media giants. Without a systemic shift to honesty and the end of private political donations, I see no future for the UK.

Michael Lambert: Why No Leader Can Fix Britain’s Current Course

Feb 7, 2026 | In this video I reflect on recent events in British politics from a very different perspective — speaking from Bangkok and watching the UK from afar.

I discuss the latest defections to Reform UK, why Nigel Farage still represents a political cul-de-sac rather than a governing future, and what these shifts say about the Conservative Party’s decline.

I also look at Keir Starmer’s trip to China, the reality behind the so-called “sophisticated relationship”, and the uncomfortable truth about Britain trying to negotiate alone in a world dominated by large trade blocs.

Along the way I touch on Peter Mandelson, Labour’s leadership dilemma, Andy Burnham, Davos and the wider question of whether Brexit has left Britain trying to play a role in the world that no longer exists.

Michael Lambert: The UK Economy Is Heading for Trouble

November 29, 2025

I know this has been stated so many times before, but I will state it again: This country’s economic woes begin and end with Brexit.

The country has been in terminal decline since the end of the Great War, but we hitched our wagon to Europe’s for that very reason: to arrest that terminal decline. I am old enough to remember the very first referendum on the European question. The people who voted for that idiotic Brexit were taken in by the likes of Farage because of their lack of understanding of the history of this nation’s decline. Harsh though it sounds, it must be re-iterated: Brexiteers were taken in because they knew no better. Because they knew no better, people like Farage could fool them.

Even Thatcher, who was no lover of the European Project, realised the importance of the European Single Market. In fact, without her unstinting efforts, the Single Market would probably not have come about. Margaret Thatcher was one of the Single Market’s main architects, arguably the main architect. She knew that there was no prosperity for Britain unless we were in it, unless we took an active part in it. Not so much politically, perhaps, but certainly economically.

There is therefore only one solution to this problem, and it is this: we MUST correct our mistake and re-join that market. Our main obstacle to our doing so is our dullard politicians. Some say that Europe won’t let us back in. Poppycock! With Russia knocking on Europe’s door and with Trump abandoning Europe in favour of befriending Vladimir Putin, the European Union needs all the friends it can get. It also needs Britain’s first-class military expertise to help guarantee Europe’s continued security.

So, we need a leader who is charismatic, powerful, and courageous. One who will swim against the tide. One who will take us back into the European Union as FULL MEMBERS, with no ifs and buts. We need to embrace the euro as well and ditch the pound. We need not only to be taken back into the EU, but we need to demonstrate our absolute commitment to the Project. Our place in the EU needs to be locked in. Then, and only then, will this country have a fighting chance for a full economic recovery. Re-entering the European Union would not only help stimulate economic growth for this country, it would also help stimulate European economic growth, too. Our re-entrance would shore up optimism. Nothing hampers economic growth as much as pessimism and restrictions to trade. Commerce thrives on optimism and freedom from restrictions.

Moreover, it should be added that many of our other woes would be solved by re-entry into the EU as well. The problem of a shortage of labour, for example, and the problem of illegal immigrants.

Thank you, Michael, for your most interesting video. Watching your videos is always a pleasure. — © Mark Alexander

Why Britain No Longer Makes Things — and How We Rebuild

For forty years, we were told that Britain didn’t need manufacturing — finance would make us rich. That experiment has failed. We import more than we export, our towns have been hollowed out, and our prosperity rests on hot money and property bubbles rather than productive capacity.

In this video, I explain why Britain’s industrial collapse was a political choice, how Thatcherism destroyed long-term investment, why Labour still worships foreign takeovers, and why rebuilding national capability now requires deliberate government action.

We need regional public investment banks, a tax system that rewards real production, not speculation, and a new industrial strategy that blends modern manufacturing with care, education and innovation. This is about well-being, security, and the future of our democracy.

Michael Lambert: The Grim Reality of Britain's Economic Future

Nov 8, 2025 | I was tempted to begin this video by warning anyone of a nervous disposition to look away — because the truth about Britain’s economic future is not pleasant.

In this video, I explain why I believe the U.K. faces long-term decline, why genuine recovery is almost impossible, and how Brexit has made everything worse by cutting us off from our largest trading partner.

I also look briefly at the U.S. economy, where an AI bubble may soon burst, but the heart of this video is Britain — its structural weakness, political chaos, and loss of direction.


Michael Lambert's new channel: How Thinking for Ourselves Is Becoming Harder »

How Private Equity Hollowed Out the UK’s Economy – Angus Hanton | Spectator Cover

Jul 25, 2025 | Britain has become a ‘vassal state’ to foreign money – and especially to American private equity.

In this episode, economist and author Angus Hanton joins Spectator TV to explain how private equity is hollowing out the UK economy, why the profits are heading overseas, and what the government could do to stop it.

Angus is the co-founder of the Intergenerational Foundation and author of Vassal State: How America Runs Britain.

UK Firms Cutting Staff at Fastest Pace since February as Economy Struggles

THE GUARDIAN: Headcounts being reduced in response to higher taxes and uncertainty over US tariff threats, PMI survey shows

UK businesses are cutting jobs at the fastest pace since February in response to higher taxes and global uncertainty caused by Donald Trump’s tariff threats, according to a closely watched survey of the private sector.

The flash S&P Global purchasing managers’ index (PMI) for July showed a decline in fresh orders, hitting jobs and dragging down growth.

According to the report: “Survey respondents widely commented on the need to reduce headcounts in response to higher payroll costs and subdued customer demand.”

Posing a dilemma for the Bank of England as inflation remains above its target, the early snapshot of activity this month showed manufacturing growth was static while sales in the services sector weakened. » | Phillip Inman | Thursday, July 24, 2025

Michael Lambert: 4 Reasons UK Economy Is in a Desperate State

Feb 15, 2025 | The UK economy is failing and there seems to be no way for it to recover without growth and there is very little possibility of this happening.

In this video, I point out three reasons why the UK economy is doing so badly.

First, London has become the world centre for money laundering, attracting dirty money, much of which ends up in British tax havens. In towns and cities throughout the UK can be found retailers who are almost certainly, and often by their own admission, laundering money.

Secondly, the UK made the mistake of privatising vital utilities, water, gas, electricity and the railways. The majority of these are now foreign-owned.

Thirdly, American companies now dominate much of the UK economy. They dominate much of the retail sector including fashion, food, and coffee shops. Amazon now commands 30% of the UK online market. Many of these US owned commercial giants pay little or no taxes in the UK. Instead, licensing payments and other devices are used to divert profits to friendlier tax jurisdictions such as Luxembourg and Ireland. A detailed account of American activities in the UK economy can be found in 'Vassal State' by Angus Hanton.

Finally, the UK has economy has been badly damaged by Brexit which is now widely acknowledged as being a massive and very costly failure. The UK is now alone in a world dominated by China, the EU, and an America which is now ruled by an eccentric and unreliable president. Despite the obvious damage which Brexit has caused to the UK economy, Keir Starmer, the Prime Minister, insists that there will be no return to the Customs Union, the Single Market or to Freedom of Movement.

Given the above it seems impossible to see how the UK economy can even begin to recover.


This is an excellent synopsis of the mess that is the UK economy. Thatcher must be blamed for so many of our economic woes. She sold off almost all of the “family silver”. It goes without saying that I agree with all Michael Lambert has said. – © Mark Alexander

‘Britain Has Sold Its Economy to the US’ – Angus Hanton on How America Really Runs Britain

Feb 11, 2025 | Angus Hanton, author of Vassal State: How America Runs Britain, joins Freddy Gray to talk about the economic relationship between Britain and America. As the world adjusts to the new US administration, every day seems to bring news of new potential tariffs. Is the UK a prime target for Trump? What could the impact on tariffs be? And what are the long-term questions facing British politicians about both the economic and political relationship with the US?

So much for the sovereignty we got back after Brexit! And so much for Thatcher’s jumble sale of all things British! What a sh***y mess we have got ourselves into! – © Mark Alexander

Michael Lambert: UK Economy - Where Is the Growth Coming from?

Jan 18, 2025 | Every week we hear further bad news about the UK economy. Although other countries are also suffering, the situation in the UK seems far worse, not least as a result of Brexit.

The government under Keir Starmer seems clueless as to how to improve our economy despite talking endlessly about growth. Starmer recently gave a speech about how the UK is to become a worldwide AI superpower alongside China and the USA. It was also announced that he had written to each of the UK regulators asking them to present pro-growth initiatives to Downing St.

Once in power the Labour government agreed to a 15% rise for train drivers who are paid double the UK average. Measures were introduced to increase the minimum wage and make it very difficult to dismiss employees from day one, both of which are likely to deter employment. In the budget Rachel Reeves increased employers' NHI contributions which is a deterrent to employers taking on more staff.

The government has been talking about growth since before they came to power but there has been none. Starmer is now talking about the UK becoming an AI superpower. None of the cabinet has any experience in business and seem clueless as to how to solve our problems. Any solution will take a long time and must prioritise the promotion of small business.

Michael Lambert: Is the UK Economy Finished?

Dec 28, 2024

Bank of England Holds Interest Rate at 4.75% but Warns of UK Stagnation Risk

THE GUARDIAN: Central bank downgrades growth forecast amid threat from budget fallout, rising inflation and Trump trade tariffs

The Bank of England has kept UK interest rates unchanged but warned Britain’s economy is on the brink of stagnation after Rachel Reeves’s budget as the world faces stubbornly high inflation and the risk of Donald Trump reigniting trade wars.

Holding interest rates at 4.75% in a widely expected decision, the central bank’s monetary policy committee (MPC) said on Thursday it had slashed its UK forecasts for the final three months of the year with a prediction of zero economic growth. The Bank had predicted growth of 0.3% as recently as November.

Highlighting the chancellor’s £40bn tax-raising budget, alongside rising geopolitical tensions and trade policy uncertainty after Trump’s November election victory, the MPC said growth was faltering while inflation risks remained. » | Richard Partington, Economics correspondent | Thursday, December 19, 2024

UK’s Economy Shrinks Unexpectedly by 0.1% in October

THE GUARDIAN: GDP figures underline scale of challenge for Labour to get the economy growing

Britain’s economy shrank by 0.1% in October, underlining the scale of Labour’s challenge to get the economy growing.

Figures from the Office for National Statistics showed the unexpected fall in GDP was driven by declines in construction and production, while the dominant services sector stagnated. » | Guardian staff and agencies | Friday, December 13, 2024

THE TELEGRAPH:

Britain ‘on recession watch’ as economy shrinks: Britain has been placed “on recession watch” after official figures showed the economy shrank for the second month in a row in October. »

Reeves’s Shrinking Economy Already Has Its First Victims

THE TELEGRAPH: The demise of cars, flights and cafes are just the start of Britain’s slump towards full-blown recession

The car manufacturing giant Stellantis is closing a factory. EasyJet is slashing the number of flights around the UK. Even the chairman of Gail’s has said that some of his businesses may have to close. If you want to buy a new car or take a Christmas break, it is about to get a lot harder.

In reality, there is a common theme to all those stories: they are all part of Chancellor Rachel Reeves’s shrinking economy. And from retail chains to pubs and restaurant groups it is going to get a lot worse over the next few months.

For anyone who was expecting the UK to be emerging as the “fastest-growing economy in the G7” by now, as the Labour Party promised during the election campaign, it has turned into a sobering week. » | Matthew Lynn | Saturday, November 30, 2024

Michael Lambert — Opinion: So Many Problems with the UK Economy

Nov 23, 2024 | The UK economy is in a bad way and it is difficult to see how it can improve. Government borrowing in October was £17.4 billion, much more than expected and a record amount for any October since records began. Interest on the national debt is currently £102 billion per year, equal to twice the defence budget.

Retails sales in October were down and energy prices are set to rise further. The government's plan is to go for growth whilst businesses are closing, and many are struggling.

Electricity prices are 78% higher than the average in the EU and four times the rate in the USA. Foreign investors own much of our infrastructure and major businesses, and a Japanese consortium has just been contracted to operate the new Elizabeth Line (Crossrail), taking over from the Hong Kong Metro.

Government waste seems out of control. Under the Public Order Act, police are able to detain and punish anyone who expresses opinions which they disapprove of.

In another apparent waste of public money 470 delegates from the UK attended Cop29 in Baku in Azerbaijan, and the owner of Clearsprings Ready Homes Ltd which provides accommodation for asylum seekers made a profit of £62.5 million in the year ending (y/e) January 2023 and £91 million in y/e January 2024. It is difficult to see any positive outcome for the British economy.


Michael, I wholeheartedly agree with your take on the state of the UK. I hate to sound negative, but I have lived long enough to see how the UK operates. I am sorry to say that I see no future whatsoever for this country. The country will just go on bungling along. First, we lost the Empire. Then, our economy went down and down until we became the “Sick Man of Europe”. Then, along came Lady Luck who shined upon us, blessing the nation with great good fortune — a fortunate stroke of serendipidy. We were given the chance to enter the then Common Market. The UK economy started to bloom again. That was until economically illiterate, backward-thinking people insisted that the British electorate be given that stupid Brexit referendum. The result is well-known, and its effects on the UK economy, too. So, we are now on a downward slide into poverty and insignificance.

Current British attitudes amongst the far right show no signs of contrition. On the contrary, they are doubling down, and they are pinning their hopes on the recently elected felon in the USA to reverse their fortunes. I fear that they are “whistling Dixie”. – © Mark Alexander

UK Inflation Rises to 2.3%, Increasing Pressure to Delay Interest Rate Cut

THE GUARDIAN: Figure is above Bank of England target after energy bills push up prices

Inflation increased to 2.3% in October, heaping pressure on the Bank of England to delay further interest rate cuts until next year.

Figures released by the Office for National Statistics (ONS) on Wednesday showed that a rise in energy bills pushed up the consumer prices index (CPI), reversing a downward trend this year in inflation, which was 1.7% in September.

The figure for the year to October was slightly above the 2.2% City economists had expected. » | Phillip Inman | Wednesday, November 20, 2024

THE TELEGRAPH: Interest rates to ‘stay higher for longer’ after inflation blow: Interest rates risk staying “elevated for longer”, economists have warned, after inflation rose at a faster pace than expected last month. / Policymakers are “unlikely” to cut borrowing costs at its meeting in December, analysts said, after the pace of price rises surged back above the Bank of England’s 2pc target in October. »

The Observer View on Trade Relations: Closer Ties with EU Is the Lever for Economic Growth

THE OBSERVER: Amid sluggish UK productivity and global insecurity, pulling closer to Europe is diplomatically and economically vital

Achieving the fastest sustainable growth in the G7 was the Labour party’s highest-profile pledge going into the general election last July. Chancellor Rachel Reeves has said that boosting growth is “at the heart of everything she does”. But there was concerning news last week with new figures showing the economy grew by just 0.1% in the three months to the end of September, falling significantly short of expectations.

Some business leaders have linked this anaemic growth to uncertainty in the run-up to last month’s budget. But it will largely still be a product of factors outside the new chancellor’s control, including the decisions of the last Conservative government.

It is nevertheless disturbing news for Labour as well as for the country. The Resolution Foundation forecasts disposable household income per person is forecast to rise by just 0.5% a year on average over the course of this parliament. The results of the US election sound an important alarm bell about the extent to which voters are willing to punish incumbent centre-left governments for failing to deliver noticeable increases in living standards. » | Observer editorial | Saturday, November 16, 2024