Originally posted by The_Equalizer
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Edit here ... Just in case you where too young ...
16% base rate for a day before the rate dropped to 10%, phew what a relief for us Mortgage payers. A massive recession followed, not like this weak and wimpy slowdown the UK has experienced since 2008. People handed their keys back as they found themselves unemployed with mortgages more than the value of their houses. The UK experienced unemployment only matched by France now, mind you this was still half the rate that Spain and Greece have experienced.
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