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Re: Just before the robbing Tory budget
Quote:
Originally Posted by entwisi
it was 15% for about 2 hours IIRC on the day of the crash. I was working at The Brit that day and when I told some business men they actually got up straight away and left mid meal.
The reality is teh man on teh street has 'felt' wealthy and had money and goods to show for it, problem is its all actually just held in debts and never never.
(Their bold)
so you haven't really had all this money Mancie its just waiting to come and bite you on teh arse. The reality is that the old goverment encouraged you to spend spend spend....
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From July 1988 to May 1992 we had interest rates in double figures, and in 1989 and 1990 it was a constant 14%, except when it peaked, which is what I previously posted, at 15%.
The Thatcherist governments, which includes Major, would have wet themselves at the interest and inflation rates we have today, as that was one of their main economic policies.
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'If you're going to be a Kant, be the very best Kant there is my son.'
Johann Georg Kant, father of Immanuel Kant, philosopher.
Last edited by garinda; 09-06-2010 at 07:39.
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