Margaret Thatcher Thread - Read the first post before posting

[Obelix]

She was certainly true to her word in looking after the interests of the miners and steelworkers and all the other manufacturing industries that lengthened the dole queues to hitherto unknown proportions...NOT!

When she used St Francis's words did she actually understand them? Answer that one on the back of what she actually did during her three terms!

 

I wan't be losing any sleep over what you think of me. I'm actually very comfortable with who I am!

 

I'm sorry are you actually going to respond to the quote in question, or are you takin a leaf out of Mecky's book and indulging in misdirection?

 

Do you agree that your quote is in fact now wholly inaccurant and woefully misrepresenting what was said and meant? When we deal with that we can deal with St Francis.

[JFKvsNixon]

BBC have just said that they are only going to play a clip on "Ding Dong", with a quick summery of the context that the song is in the charts on Sunday, and why it's not being played in its entirety.

[fishy_taste]

I'm sorry are you actually going to respond to the quote in question, or are you takin a leaf out of Mecky's book and indulging in misdirection?

 

Do you agree that your quote is in fact now wholly inaccurant and woefully misrepresenting what was said and meant? When we deal with that we can deal with St Francis.

 

Didn't you know you're wrong because they said so and you should know.

 

So there - that's told you .

 

I enjoy a good argument, but I think I have matured from the schoolyard 'yes you are' 'no I'm not' level of discussion.

 

I suspect Mecky is still there, if not in body, certainly in mind and spirit.

[MrSmith]

Yes I do blame deregulation, in part. It allowed banks to use excessive leverage to create credit. You rightly point to lack of supply forcing up prices but the credit to fuel the ever increasing prices was supplied by banks.

 

Banks will only lend you money if they think they will get the money back with interest, if house prices hadn't been rising as a result of government policy, the banks wouldn't have lent the money in the first place. Government set the interest rates and policies which encouraged people to borrow lots of money and encouraged banks to lend lots of money.

[JFKvsNixon]

Banks will only lend you money if they think they will get the money back with interest, if house prices hadn't been rising as a result of government policy, the banks wouldn't have lent the money in the first place. Government set the interest rates and policies which encouraged people to borrow lots of money and encouraged banks to lend lots of money.

 

Part of the cause of the last housing bubble was that the banks didn't care if you could or couldn't pay the mortgage back as they sold the mortgage on to another financial institution labelled as a triple A investment opportunity.

 

This perceived lack of moral hazard within the financial institutions, and the individual mortgage brokers was at the core of the whole financial crisis.

[MrSmith]

Part of the cause of the last housing bubble was that the banks didn't care if you could or couldn't pay the mortgage back as they sold the mortgage on to another financial institution labelled as a triple A investment opportunity.

 

This perceived lack of moral hazard within the financial institutions, and the individual mortgage brokers was at the core of the whole financial crisis.

 

I was under the impression it was the USA banks that were giving out the sub-prime mortgages with absolutely no regard to how they would be paid back, I didn't think it was such a major issue in the UK.

[Shef_Fitness]

I can understand why the Coal Miners/Steel Workers from the 80s may have a greavance who may still be suffering to this day.

 

Although I'm struggling to understand why the champagne supping wealthy posh kids are so angry though.

[I1L2T3]

I was under the impression it was the USA banks that were giving out the sub-prime mortgages with absolutely no regard to how they would be paid back, I didn't think it was such a major issue in the UK.

 

Some very bad lending decisions were made in the UK. The difference between us and the US is they'be already had their housing market correction. Our housing bubble is still fairly well inflated and prices are still way above long term trends.

 

Self-cert and interest only mortgages were two of the products used by banks.

[Lotusflower]

People lose their jobs, industries evolve, things change. She felt that it was not the job of the British Tax payer (whom included miners, steel workers, dockers etc.,) to prop up ailing industries just to maintain some unachievable ethic of full employment (btw, 1.4million were already unemployed by the time she came to office - a result of Labour govt policies!)

 

The tax burden was at 33% to fund the money pits that were the steel works, the mines etc.,

 

None of those industries have disappeared, they have simply re-valued in the market; evolved to the ever changing market demands.

 

Look at it like this - should you keep ploughing your money in to an industry just because someone, somewhere decreed it as 'important'.

 

She believed govt's should not run businesses (and unions certainly should not!) - govt's run the affairs of state and business should run business.

 

If you went to a restuarant and ordered a meal and were not completely satisfied with the meal you received, would you complain or would you just pay the cost saying 'well, the chef has his own family to feed - it's the right thing to do'?

 

Or, would you go to a shop and demand to pay twice the going rate for a product because it was made in Britain and the workers had families to feed?

 

That's a most interesting analysis of the Thatcher years. Trouble is that Hans Christian Andersen did fairy tales a whole lot better than this. I remain unconvinced and totally unimpressed.

Why don't we just agree to differ and leave it there.

[MrSmith]

Some very bad lending decisions were made in the UK. The difference between us and the US is they'be already had their housing market correction. Our housing bubble is still fairly well inflated and prices are still way above long term trends.

 

Self-cert and interest only mortgages were two of the products used by banks.

 

They were both round in 82 when I bought my first house and very few people have been unable to pay their mortgage in the UK, obviously because government have kept interest rates low.