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Originally Posted by TheDaddy
What like it was under John Major?
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Now you know full well that that is not a valid comparison: The sky high interest rate under Major was due to the almost suicidal attempt to stay in the snake, the predecessor of the Euro, and was only temporary. Unlike the economic failure under Calaghan that had us going begging, cap in hand, to the IMF for a bailout worth £8bn in todays money to prevent the country going bankrupt as no one else would loan us anything as "The sick man of Europe" couldn't pay it's debts.
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I read an interesting article on the '70's crisis (cough, to young to remember it) that said LBJ threatened to wreck the UK economy if we didn't join the war in Vietnam, not many years later that happened, not sure if it's true or to what extent there was economic arm twisting or if I'm even remembering the article 100% correctly!!
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I'll get my tin foil hat out.
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History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
