The UK miracle

I’ll start my blogging career with a small commentary concerning the United Kingdom.

As you might know, the British elections will occur next Thursday.

Much has been said in the news about the success of David Cameron and his Conservative government. (including in my own country, Portugal… who would guess?)

So, but what about the UK great miracle? The unemployment rate has been decreasing, inflation is low and prosperity seems to grow. True, true. But let´s face the facts and compare the United Kingdom GDP per capita PPP (meaning that the average standard of living is measured in the same currency and at the same prices) with the United States, Japan, Germany, Australia and Canada (AKA the developed world…). And let’s put out of this analysis the Eurozone (except Germany) because…well because of the Eurocrisis, but that will go for another time.

The next chart compares the GDP per capita PPP of the previously mentioned countries. (They are all measured in the left axis, with the exception of the US that is measured in the right axis) .GDP per capita PPP

So…I might have some troubles with my vision, but I guess the UK (orange line) is the only one well below its pre-crisis level.

Nevertheless, the UK is a miracle. Cheers for Cameron, Osborne, the Conservative party, the austerity rhetoric (in countries with “currency sovereignty”).

Enough for the first entry..

I lost interest in it for today


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