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British families have suffered the biggest fall in wealth in the developed world (www.telegraph.co.uk)

submitted 4 days ago* (last edited 3 days ago) by cfgaussian@lemmygrad.ml to c/worldnews@lemmygrad.ml

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British families have suffered the biggest fall in wealth in the rich world since the pandemic.

The average Briton’s wealth has fallen by more than a fifth over the last five years, according to UBS. The slump is the worst seen across the 37 countries it surveyed.

Typical individual wealth has fallen by around £28,500 since 2020 after accounting for inflation.

[...]

Britain suffered a worse inflation shock than other developed nations as energy costs leapt.

A slowdown in the housing market has also fuelled the wealth slump.

British families have suffered a bigger blow than those in countries such as Turkey, Bulgaria, Mexico and Kazakhstan over the past five years.

https://archive.ph/Y4T25

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[–] isekaihero@ani.social 2 points 17 hours ago

I would argue that the typical USA family has lost more wealth, but our averages are skewed by the absurd riches of our billionaires. Also I think lots of official sources have incorrect statistics when it comes to median income. Everyone I know earns less than the median personal income. I would say at least 80% of my home town earns less then the median. I don't think that changes if you look at city populations either. I think the statistics are just wrong, and the people who collate the statistics don't want us to know the truth.

[–] Rylo@lemmygrad.ml 13 points 4 days ago (2 children)

Ah, my prediction that the UK has at most 2 decades left as a functioning state continues to be fullfilled with each passing day.

[–] Lenins_Dumbbell@lemmygrad.ml 2 points 17 hours ago

2? Damn, idk if I can wait that long

[–] cfgaussian@lemmygrad.ml 8 points 4 days ago

Britannia Delenda Est

[–] SirSmoothAES@lemmygrad.ml 13 points 4 days ago (1 children)

Quick, blame it on immigrants!

[–] p0ntyp00l@lemmygrad.ml 11 points 4 days ago

oh they're way ahead of you

[–] cfgaussian@lemmygrad.ml 8 points 4 days ago* (last edited 3 days ago) (1 children)

Also, Russia has apparently experienced the second largest increase.

(Though average wealth is of course skewed by extreme wealth accumulation at the top; look at the median instead.)

[Also, both Japan and South Korea have experienced a population decrease from 2020 to 2025, which, if hypothetically total wealth had stayed constant, would have concentrated it, dragging up the per capita values.

Russia on the other hand has increased its population over the same period with the annexation of the Donbass republics and a significant influx of Ukrainian refugees.

Unfortunately, statistics by Western sources typically don't take the population of the Donbass republics or even Crimea into account when counting Russia's population, hence it is hard to say how accurate their assessment of Russia's economic situation is.]

[–] Lenins_Dumbbell@lemmygrad.ml 2 points 17 hours ago

Doesn't matter what the West says. Materialism will always win in the end.

Russia has shown that it can match and even outproduce NATO's industrial capacity. I think that was the primary reason the US realized its time to drop NATO. It cannot even achieve the objective it was created for: defeating the USSR.

Forget the USSR, they can't even win against Russia. So there's no need to foot the bill anymore. Let Europe deal with it and destroy itself in the process.