Thursday, Apr 08, 2010
Vote Tory ?
BBC: 1992: UK crashes out of ERM
Would it be perverse to suggest voting the Tories in to boost IRs for prudent savers...
"Chancellor Norman Lamont raised interest rates from 10% to 12%, then to 15%, and authorised the spending of billions of pounds to buy up the sterling being frantically sold on the currency markets."
Posted by doomwatch @ 04:08 PM (1387 views) Add Comment
16 Comments
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1. mick rupert said...
For those of you who presume Labour are going to lose the the 2010 election, may I remind you that all the above happened in 1992 and the Tories STILL got in for another 5 years.
And this was after months of trailing Labour in the polls.
Sound familiar? 2010 is feeling not dissimilar to 1992 imo.
2. Hpwatcher said...
Actually, Gordon Brown lost twice the amount of money when he sold off UK gold.
3. uncle tom said...
The 1992 election turned on two factors:
1) Kinnock's incredibly stupid, pre-poll victory rally.
2) People standing in the polling booths thinking "which prime minister do I want?" - and faced with the choice of a conceited red haired Welshman and 'nice' Mr Major, changed their minds at the 11th hour (and they didn't even admit that they had to the exit pollsters..)
Come May 6th, those people will be making the same last minute decision, and will probably be thinking "can I really bear any more of this arrogant Scotsman" and "Cameron's not such a bad guy really.."
On the 11th hour stakes, I reckon Cameron will pull ahead, but maybe not to the same degree that John Major did.
4. happy mondays said...
uncle tom said...On the 11th hour stakes,
I say stick a stake in all of the Blood sucking vampire Mp's ! Who claim to be here for the people..
Rerum Mutatio
5. chrisa said...
@1 this took place in September 1992, check the article again, the Tories had already got in because the 1992 election was in Spring 1992.
6. Cashrichassetpoor said...
'The shadow chancellor, Gordon Brown, said colossal errors of judgement by the prime minister and chancellor had betrayed the British people. '
7. tyrellcorporation said...
Who are you voting for doomwatch? Are you voting for the party that effectively stuck you on this website wasting your life away and consigned you to a life of rented accommodation? If Brown is voted back in the British people will get everything they deserve - well 30% of them will. The other 70% who didn't vote for him will have been just unlucky. What a great democracy we have.
8. Jayk said...
Grow up. I'd rather have September 1992 than any year in the latter half of the 1970s, which thanks to Labour we're heading for again. Oh, and interesting fact: Brown SUPPORTED Britain's membership of the ERM up until when it started going wrong, when he suddenly decided he opposed it all along.
And rather foolish to mock Lamont's spending that day when Labour have spent several multiples of that amount bailing out the banks and corrupt bankers, only to allow yet another HPI bubble to start up.
Oh, and what tyrellcorporation said.
9. This comment has been removed as it was found to be in breach of our Blog Policies.
10. tom101 said...
Can't stand the Tories, but detest Brown more.
11. Mrb said...
The ERM debacle cost us about the same as the weekly interest on Brown's national debt.
12. waitingfor hpc said...
Tory all the way. Regulate the banks, cut spending and then see house prices fall!!
13. doomwatch said...
tyrell. I'm a dying breed socialist, so didn't vote for phoney Tony. Right now the best case scenario is a hung parliament
between the Labs and the Libs, BUT they'll never to kicl out the public school history dumbo (no, not George, Al)
and put in baby faced Vince.
14. nomad said...
For the electorate to regain the ascendancy use the following formula.
Look at the record of this Parliament - don't listen to anything they say during the campaign. Exclude all parties in your considerations other that the top three. Place not a single vote for labour or for sitting MPs of any persuasion, they are all responsible for this disastrous, incompetent, noses in the trough era.
Therefor the simple choice will be between Tory and Lib Dem, and that decision is made if either is incombent. In labour held consistuencies choose the best of two candidates.
This will, without a shadow of a doubt, herald a new era - which is precisely what we want and need. Let's see the major players cut down.
Admittedly some quality people will be removed, but they have sat on their hands while Parliament sunk.
15. Screamifyouwanttogofaster said...
It's a sad state of affairs when we have to HOPE that campaigning politicians are being disingenuous about the unpopular measures they already plan to take once they've won the election. Looks like the change in the Tory tune on the debt crisis over the last months is a case of politicians having to lie because their research tells them the electorate won't face the truth...
16. nomad said...
or "while Parliament stunk".
Alternatively vote for only Minor Parties or Independents. Either way we get at the smug controllers.