Great Britain has a new king, a new prime minister—and a new economic crisis.
S&P Global says that the country is already in a recession. Inflation is at 9.9%, higher than in the United States. The pound has fallen dramatically against the U.S. dollar, and government debt is surging.
But at least the Brits can count on their 74-year-old system of socialized medicine, the National Health Service, right? Not really.
The NHS is facing a cost and care crisis of its own. And it may get worse, as the government contemplates spending cuts to bring inflation to heel and offset energy subsidies planned for winter.