Reply to: Happy "Thatcher Out" day everyone

[minestrone]

Just out of interest prior to 1992 when we were in recession when was the previous time the country was officially in recession?

Also how did the country get out of the 1992 recession?

Just wondering because i am not very knowledgable on these things.

TIA

Devaluation of the pound coming out the ERM made a big difference.

[original PM]

Just out of interest prior to 1992 when we were in recession when was the previous time the country was officially in recession?

Also how did the country get out of the 1992 recession?

Just wondering because i am not very knowledgable on these things.

TIA

[sasguru]

Manufacturing remained pretty much level from 79 to 97 despite what everyone thinks.

MAybe, but a lot of that is now done by foreign companies whose strategy and profit use will not necessarily match the UK needs.

[minestrone]

Agree with that. St Maggie was not infallible and was responsible for the decimation of the manufacturing and heavy industries in the UK.

Manufacturing remained pretty much level from 79 to 97 despite what everyone thinks.

[Arturo Bassick]

Thatcher rightly took on the unions who were entrenched in nationalised industries. Unfortunately she threw the baby out with the bathwater because she didn't ensure the survival of said industries while the necessary purging was done. Ultimately thsi was based on her erroneous (as we now know) view that a service economy was adequate to sustain an advanced developed economy.

Agree with that. St Maggie was not infallible and was responsible for the decimation of the manufacturing and heavy industries in the UK.
The service industries were doing a decent job of keeping the economy afloat. Not sure Maggie can be blamed for not seeing globalisation of those service industries coming. We can blame NL for actively encouraging offshoring and inporting cheap labour though.

[sasguru]

The Tories left the checks and balances in place to stop the banks doing what they have just done. It was NL that removed the shackles and allowed the banks to get out of hand.
Thatcher did the needful with the economy at the time and brought it under control from the mess she inherited.
NL have done quite the reverse. It is widely accepted that when Bliar came to power his Government inherited one of the best economies any Government has ever been gifted. So good in fact that it took 15 years of incompetence to break it. How Millipede and Bollocks have the gall to tell the Tories they are doing it wrong is laughable.

Thatcher rightly took on the unions who were entrenched in nationalised industries. Unfortunately she threw the baby out with the bathwater because she didn't ensure the survival of said industries while the necessary purging was done. Ultimately thsi was based on her erroneous (as we now know) view that a service economy was adequate to sustain an advanced developed economy.

[Arturo Bassick]

Really?
Some might say her liberalisation of the financial markets without adequate oversight, her short-sightedness on the importance of manufacturing and her encouragement of consumerism is the reason we are, per capita, the most indebted nation on earth.

The Tories left the checks and balances in place to stop the banks doing what they have just done. It was NL that removed the shackles and allowed the banks to get out of hand.
Thatcher did the needful with the economy at the time and brought it under control from the mess she inherited.
NL have done quite the reverse. It is widely accepted that when Bliar came to power his Government inherited one of the best economies any Government has ever been gifted. So good in fact that it took 15 years of incompetence to break it. How Millipede and Bollocks have the gall to tell the Tories they are doing it wrong is laughable.

[Sysman]

With knobs on.

And interest rates at 12%.

My mortgage hit 16.1%, which was painful.

Then it got worse, 'cos getting money out of clients was like getting blood out of a stone.

Folks losing jobs, getting divorced, losing houses etc etc.

It was proper grim.

[Peoplesoft bloke]

Who are these socialists? Blair and Brown? Please tell me they are who you mean cos I could do with a laugh.

Yeah, that must've been a Socialist regime that increased the gap between rich and poor to record levels and boosted child poverty to levels Keith Joseph could only dream about.

[Old Greg]

That is a bit harsh, particularly when you consider what she did in the context of the era. The problem with what she did was that the socialists got their hands on power and money and yet again f*cked it up"

Who are these socialists? Blair and Brown? Please tell me they are who you mean cos I could do with a laugh.

[DodgyAgent]

Really?
Some might say her liberalisation of the financial markets without adequate oversight, her short-sightedness on the importance of manufacturing and her encouragement of consumerism is the reason we are, per capita, the most indebted nation on earth.

That is a bit harsh, particularly when you consider what she did in the context of the era. The problem with what she did was that the socialists got their hands on power and money and yet again f*cked it up"

[sasguru]

Thatcher turned the country around and made the UK one of the most successful countries in the world.

Really?
Some might say her liberalisation of the financial markets without adequate oversight, her short-sightedness on the importance of manufacturing and her encouragement of consumerism is the reason we are, per capita, the most indebted nation on earth.

[DodgyAgent]

Of course I have. As you know I find it pityable that what I earn is the only significant factor you consider when you are telling me what opinions I have a right to.

You have a right to any opinion you like to have just as I have a right to point out that your pious self righteous comments about the rich apply squarely to you. you are a hypocrite.

[Peoplesoft bloke]

Have you had a long hard look at what you earn?

Of course I have. As you know I find it pityable that what I earn is the only significant factor you consider when you are telling me what opinions I have a right to.

[DodgyAgent]

I think I got the gist of that...

Have you had a long hard look at what you earn?