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Robin9 · 10:50 PM

Quote:

Originally Posted by e27002 aurora

On Mon, 14 Sep 2015 14:33:17 +0200, Robin9
wrote:

British Leyland died under Thatcher, not before Thatcher.

WELL YEAH! The cheap money dried up and the cancer died. doh!

In the 1970s the Government had taken a stake in BL which Thatcher
sold off to her beloved British Aerospace. I don't recall the financial details
but, knowing Thatcher, I imagine she sold it for less than its real value,
thus cheating the British people and rewarding her friends.

The taxpayer was fortunate HMG did not have to pay BAe to take the
crock of its hands.[i]

The fact that the innumerable strikes and stoppages in the 1970s did
not kill off British industrial companies proves that the underlying strength
of those companies must have been considerable. It was only after 1979
that these companies, many of which exported on a large scale, went
to the wall. [/ i]

Trades Unions exist to protect their member's interests, not organize
political strikes and destroy shareholder value.

The inescapable truth is that British industry could contend with strikes,
three day weeks and stop/go economic strategies but could not survive
the credit squeeze, high interest rates and high value of the pound that
Thatcher and her dim-witted, uncomprehending Chancellor, Geoffrey Howe
brought in.

It should always be remembered that most of the companies that went
under during the Thatcher/Howe period were making a theoretical profit.

Theoretical, sure. Stop subsidizing stupidity with cheap money and
the party was over.

They were not trading at a loss but they ran out of money. Michael Edwardes,
the boss of British Leyland, commenting on how high interest rates were killing
British manufacturing, said it would be better for the U. K. if North Sea oil
was left under ground!

Thatcher of course ignored him.

The successful can afford to ignore failures like Edwardes.

She needed North Sea oil revenues to finance her tax cuts for
the rich and unemployment benefits for the growing number
of people out of work because the now much reduced U. K.
economy was not generating the same tax returns it had in
the 1970s. So while Norway used its North Sea oil revenues
both to finance a huge investment in infrastructure
and to set aside a future investment fund, our North Sea oil
revenues were frittered away and at the end of the 1970s
one of Thatcher's legacies was a country with a crumbling
infrastructure.

Norway was fortunate not to have several decades of left wing
infiltration to reverse.

Your comment about subsidising rents is comically relevant to today's
Thatcher created situation where rents are astronomical and have to be
subsidised by the tax payer: about £23 billion this year, I believe.

I note your confession that you did not feel up to buying your
property in the open market as the rest of us did.

No, inflation always kept a home out of our reach. We knew we could
afford the one we were in if we could but persuade our borough council
to sell it to us.

Instead you waited until Thatcher flogged it to you at an enormous discount,

A man does his best for his family. When an opportunity presents
itself only a fool ignores it.

then sold it at a vast profit and cleared off to America.
An authentic Thatcher idolator!

Ad hominem invective noted. Sad really, because you are more than
capable of marshalling facts and making your case. So, conversation
over.

I think is probably is best to conclude this discussion as you seem
capable only of obfuscation.