meatcleaver
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quote:
ORIGINAL: Politesub53
quote:
ORIGINAL: meatcleaver
Yep. Its depressing to think of how many people will be willing to vote Tory without a second glance at their history which is desasterous.
Whats depressing is how many people spew bullshit and claim its fact.
Tell me what were the causes of the 1973 and 1981 recessions ?
Here are two clues. The Arab Israeli war of 73 and the 27 % interest rate inherited from Labour. The first cased oil prices to increase fourfold. The second caused the £ to appreciate, which was a blow to manufacturing and exports.
I dont mind you hating the Tories, thats your call, but lets stick to the facts here please.
If you read what I wrote, I didn't blame the Tories for the 1973 recession but the fact that the British recession was worse than its neighbours says something about government management of the situated.
As for the 1981 recession, Howe deflated the economy at a time of recession, something copmpletely against ALL economic wisdom. That caused unemployment to jump from one million to three million and that was only the official figures. Thatcher tampered with the unemployment figures 21 times to reduce them on paper. If you lived up north at that time you too would want to strangle Howe and his fucking bitch queen Thatcher. Just about ALL economists claim the recession was far deeper that it need have been to reduce inflation and shake out inefficient companies. What the Tories did was destroy many viable companies and many communities in the name of economic dogma.
The 1990s recession was due to the Tories joining the ERM, claiming they had cured the British economy of its economic woes which they hadn't and the pound was strong enough to keep up with the DMK, which it wasn't. Despite the Tory destruction of UK industry in the early eighties, they hadn't cured inflation, largely due to them giving tax cuts to their friends. The markets believed the pound to be overvalued and began to sell the pound, the government responded by using foreign currency reserves to support the pound.
http://www.economicshelp.org/2008/02/uk-recession-of-1991-92.html
Mistakes of the Thatcher Government
1. Allowing the economy to expand too rapidly causing inflation.
2. Targeting the exchange rate, when this was detrimental to other more important objectives like preventing a recession.
3. Inflation should never have been allowed to increase so much, but when they tried to slow down the economy, they overacted making the recession deeper than it need to be.
Two deeper than necessary recessions caused by the mismanagement of the Tory government. TWO is unforgiveable because BOTH could have been avoided through conventional economic wisdom. There were no surprises to government actions. The Tories ruined the lives of millions, set in process a social situation where young teens were reaching their mid twenties and having a family without ever having a job, which caused social problems that are still part of Britain today. I can tell you what happened in many towns in the north thanks to the Tory destruction, jobs moved out, guns and drugs moved in and still after all this time, many social problems caused by the are still there.
Yeah, the Tories were a great government, particularly if you worked in the city or were in thw affluent south.
< Message edited by meatcleaver -- 9/3/2008 1:04:59 AM >
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