Lord Mandelson loses his *ucking temper at a diplomatic meeting

The American owner of sticky-floors Starbucks critiziced the British economy saying that he wouldn’t open any stores there, basically writing Britain down.

«Why should I have this guy running down the country?» Mandelson asked. «Who the fuck is he? How the hell are they [Starbucks] doing?»

Lord Mandelson, UK Business Secretary had listened early in the day with frustration to dire assertions from members of the Wall Street Journal editorial board on Britain’s prospects. He had also been harassed on US radio and TV. On screen, Mandelson quickly slapped down Schultz, saying it was ridiculous to project a slowdown in sales of lattes at Starbucks coffee shops on to the UK economy as a whole. «The UK is not spiralling, although I’ve noticed Starbucks is in a great deal of trouble – but that might be because of their over-expansion, given the state of the market.»

We used to be in an spiral of borrowed money, eating out, buying over priced goods and services. This frothy economy –platita dulce as the Argentinians call it- gave employment and salaries to shop workers, restaurant waiters, chefs, girls at coffee shop places like Starbucks.  This new «lifestyle» consumerism meant that money circulated within the country giving a large Keynesian Multiplier effect. Hence Britain had the 4th largest economy in the world, absurd if you consider the resources and lack of industry.  It was aided by the hidden factor in British economy that no one in England ever talks about: the revenues from oil and gas from the North Sea .

It was a virtuous circle, but with the crash of Oil prices after the spike punched the Housing and Financial bubbles a downwards vicious circle set in.

Yet Britain, one of the most cultured and scientifically advanced countries in the world will pull through, and sooner rather than later.  London City can not be written off as one of the most important financial centres of the world -in competition with New York, and perhaps there is the reason from much neuyorican criticism towards the UK- providing high value insurance and financial services, and London and Paris are the two most beautiful cities in the world in an Europe full of astounding beauty and economic well-being.

Por Armando

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