THATCHER GOT IT ALL WRONG

Bill Roache (left) has been arrested on suspicion of raping a young girl in 1967. Thatcher, on the right, always seemed to be surrounded by alleged child abusers.

In May 2013, Margaret Thatcher's party, the Conservatives, performed rather badly in local elections.

The Thatcher funeral, in April 2013, reminded lots of voters that Thatcher got it all wrong, especially on the economy.

Thatcher with Conservative Member of Parliament Nigel Evans who has just been arrested for allegedly sexually assaulting two teenage males. Deputy Speaker Arrested On Suspicion Of Rape

Oxford historian David Priestland recently wrote about Thatcher:

History Magazine

"Since 2008, it has become increasingly evident that she did not lay the foundations for a prosperous Britain...

"It was only in 2008 that the true economic state of affairs became evident : the model built by Thatcher was being sustained by debt."

Thatcher. (Geoffrey White / Daily Mail / Rex Features)

David Priestland, referring to the economic problems of the 1970s, writes:

"Some governments - like the Germans and the Swedish - sought to create a social consensus behind a programme of gradual restructuring...

"But Thatcher, like her fellow militant Ronald Reagan, ... accelerated ... the 'deindustrial revolution'."


Thatcher and Reagan.

Britain's growth rate in the 1960s, before Thatcher, averaged well over 3%, in spite of strikes.

The average growth rate between 1979 and 1990, under Thatcher, was well below 3%, and, according to Priestland: "would probably have been lower without the North Sea oil windfall."


Thatcher

Because of high unemployment under Thatcher, productivity rose temporarily.

But, in Germany, productivity rose more than twice as much, and they didn't have the high unemployment!


Child abuser Savile was invited to stay with Thatcher many Christmases in a row. 

Historian Dominic Sandbrook writes of Thatcher:

History Magazine

"She promised to restore law and order, yet she presided over the worst riots Britain has ever seen.

Thatcher's gay friend DEREK LAUD

"She talked of bringing back Victorian values, yet her decade in office saw divorce, abortion and illegitimacy reach unprecedented heights...

"She unleashed casino capitalism..."

"Public spending actually rose in all but two of her years in office."

Austerity is not necessarily the answer when an economy is in touble.

Howe and Thatcher

"In late 1979, Thatcher's economic minister Sir Geoffrey Howe told Thatcher that inflation was unlikely to fall below about 15 per cent.

"What actually happened in 1979-1981 was that the monetary targets were always overshot and inflation raced away regardless.

"The most obvious effect of the high interest rates that were supposed to tame M3 was, instead, to push up the sterling exchange rate, pricing British manufacturing exports out of world markets."

Sir Geoffrey Howe then introduced a policy of severe austerity.

http://www.ft.com/


Alleged child abuser Sir Peter Morrison (left) was Thatcher's closest aide.

Economists Paul de Grauwe and Yuemei Ji have pointed out that Eurozone countries that have introduced the most severe austerity since 2010 have experienced the largest falls in GDP and hence the greatest increases in debt to GDP ratios.

Panic-driven austerity in the Eurozone and its implications | vox

THATCHER'S FATHER LIKE JIMMY SAVILE?...

The Thatcher government pocketed "one-off gains from the sale of public assets as current income.

"Together with the tax receipts from North Sea oil (again a temporary bonanza), this pushed the budget briefly into surplus at the peak of the boom under chancellor Nigel Lawson in the late 1980s.

"After the resignation of Lawson in 1989, and of Thatcher a year later, later chancellors were left to repair their financial legacy."

http://www.ft.com/