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A Colder Crueller Country...


Ned Coates

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http://www.informationclearinghouse.info/article26657.htm

Margaret Thatcher is lying sick in a private hospital bed in Belgravia but her political children have just pushed her agenda further and harder and deeper than she ever dreamed of. When was the last time Britain's public spending was slashed by more than 20 per cent? Not in my mother's lifetime. Not even in my grandmother's lifetime. No, it was in 1918, when a Conservative-Liberal coalition said the best response to a global economic crisis was to rapidly pay off this country's debts. The result? Unemployment soared from 6 per cent to 19 per cent, and the country's economy collapsed so severely that they lost all ability to pay their bills and the debt actually rose from 114 per cent to 180 per cent. "History doesn't repeat itself," Mark Twain said, "but it does rhyme."

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The result? Unemployment soared from 6 per cent to 19 per cent, and the country's economy collapsed so severely that they lost all ability to pay their bills and the debt actually rose from 114 per cent to 180 per cent.

But ouf of depression by 1921? Not bad given the calamity of WW1, which was the cause. We'll be lucky to get through this in three years.

Seems like a very disingenuous article to me, a lot of opinion presented as fact, and a LOT of spin. Consider, George Osborne has just gambled your future on an extreme economic theory that has failed whenever and wherever it has been tried.. Really? Says who?

That can be disputed.

http://en.wikipedia.org/wiki/Depression_of_1920%E2%80%9321#Interpretations_of_the_end

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But ouf of depression by 1921? Not bad given the calamity of WW1, which was the cause. We'll be lucky to get through this in three years.

Much like in America.

The Depression of 1920–21 was an extremely sharp deflationary recession in the United States, shortly after the end of World War I. It lasted from January 1920 to July 1921

In response, Federal spending was cut from $6.3 billion in 1920 to $5 billion in 1921.

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  • 415 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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