Berberis Posted May 4, 2010 Author Share Posted May 4, 2010 It was under Heath that the crisis in the 70s began, Wilson and Callaghan were the ones that averted that crisis through their prudence. So the Winter of Discontent never happened in your mind Link to comment Share on other sites More sharing options...
Wildcat Posted May 4, 2010 Share Posted May 4, 2010 So the Winter of Discontent never happened in your mind That is a huge leap to make from what I posted How do you work that out? Link to comment Share on other sites More sharing options...
Longcol Posted May 4, 2010 Share Posted May 4, 2010 It depends on what it was spent. Your graph proves nothing Barber printed money and inflation went through the roof (don't forget we had nigh on full employment in those days so shed loads went on wage increases). Google "Barber Boom". Link to comment Share on other sites More sharing options...
Longcol Posted May 4, 2010 Share Posted May 4, 2010 So the Winter of Discontent never happened in your mind That didn't cause a financial crisis though. Interesting that it has always been the Tories that brought in budgets that led to massive inflation. http://specials.ft.com/ln/budget99/q310e.htm Link to comment Share on other sites More sharing options...
Berberis Posted May 4, 2010 Author Share Posted May 4, 2010 That is a huge leap to make from what I posted How do you work that out? It was under Heath that the crisis in the 70s began, Wilson and Callaghan were the ones that averted that crisis through their prudence. Harold Wilson, Labour Prime Minister - 1974 to 1976 1976: UK bankrupt, borrows money from IMF James Callaghan, Labour Prime Minister - 1976 to 1979 1978 -1979: Winter of Discontent Hardly averted a crisis. More like presided over them. Wilson and Callaghan are the very reason why Thatcher came to power. They screwed the country and the population was crying out for someone to clean up their mess. Hang on, I’m having Déjà vu moment. Link to comment Share on other sites More sharing options...
Longcol Posted May 4, 2010 Share Posted May 4, 2010 Harold Wilson, Labour Prime Minister - 1974 to 1976 1976: UK bankrupt, borrows money from IMF Direct effect of the fallout from the Barber Boom plus oil prices going through the roof. Link to comment Share on other sites More sharing options...
RonJeremy Posted May 4, 2010 Share Posted May 4, 2010 Direct effect of the fallout from the Barber Boom plus oil prices going through the roof. my bold Wasn't this a Global Crisis? now who have I heard say this before? Link to comment Share on other sites More sharing options...
Longcol Posted May 4, 2010 Share Posted May 4, 2010 my bold Wasn't this a Global Crisis? now who have I heard say this before? Hasn't resulted in 20 odd percent inflation this time round has it? Link to comment Share on other sites More sharing options...
RonJeremy Posted May 4, 2010 Share Posted May 4, 2010 Hasn't resulted in 20 odd percent inflation this time round has it? we're bankrupt. Inflation will increase. Someone needs to keep the unions in check Link to comment Share on other sites More sharing options...
Berberis Posted May 4, 2010 Author Share Posted May 4, 2010 That didn't cause a financial crisis though. Interesting that it has always been the Tories that brought in budgets that led to massive inflation. http://specials.ft.com/ln/budget99/q310e.htm Inflation rates more then doubled when Labour were in charge. YEAR - RATE 1978 - 8.3% - Labour / Callaghan 1977 - 15.8% - Labour / Callaghan 1976 - 16.5% - Labour / Callaghan 1975 - 24.2% - Labour / Wilson 1974 - 16.0% - Labour / Wilson 1973 - 9.2% - Conservative / Heath 1972 - 7.1% - Conservative / Heath 1971 - 9.4% - Conservative / Heath 1970 - 6.4% - Conservative / Heath Link to comment Share on other sites More sharing options...
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