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Lessons from 1974?
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Who was regulated by Gordon Brown. THink we can thank the Labour government for squandering all the cash, keeping none aside and overexpanding the public sector.Butterfly_Brain wrote: »You can thank the Bankers0 -
Who was regulated by Gordon Brown. THink we can thank the Labour government for squandering all the cash, keeping none aside and overexpanding the public sector.
Yea, Gordon Brown also caused the American, European, Japanese, and swiss banks all to plummet into a banking crises, and at the same time, he jumped small buildings at a single bound.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
amcluesent wrote: »I was in short-trousers and pulling girls pigtails back in 1974, but every economic ill looks to be coming around again.
Inflation
Oil shortages
Industrial unrest
Public sector wage freeze
Weak government
Slumping £
I could go on, but the parallels are uncanny all pointing to stagflation.
The lesson learned from 1970s is don't bother slaving away in a public sector job, your standard of living will be in the toilet.
Last time, the profligate squandering of North Sea oil revenues kept the idle docile. That's gone now.
We've flogged off most of the family silver.
Britain is a country divided on race/faith grounds now.
FACT - I predict a riot!
Trumped by by a very weak union movement, no it is nothing like 1974.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Who was regulated by Gordon Brown. THink we can thank the Labour government for squandering all the cash, keeping none aside and overexpanding the public sector.
Thankfully, we can only guess at the sort of deregulation that the Tories would have had.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Er, in the main, most of the really important banking regulation in Britain is managed by Europe so it would probably have been much the same either way.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
It seems that the conditions are similar to what they were in 1974. The only reall difference is that if a boy tried to pull a girls pigtails nowadays he would probably get an ASBO.0
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Bought my first house back then, 3 bed semi + garage & decent size gardens, £5200.
Even got mortgage relief on the interest, never had it so good?This is an open forum, anyone can post and I just did !0 -
Never mind the tax relief on mortgage interest, there was also reflief on endowment insurance premiums and, thanks to the inflation, endowment policies were a really good investment then. With investing timimg is awfully important.
I took a mortgage out in 1972 at 8.5%, it went up shortly after that and didn't come back down to that figure until just before the end.The only thing that is constant is change.0
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