A Lesson from History…

I have thought long and hard about how I can express my anger and frustration at the current economic situation in the UK and the ridiculous plans ‘our government’ have put forward to sort it out. I have always felt that they would lead this country to economic ruin in true, not New, Labour tradition and am even more confident of that fact today. However as always I looked to history to help me find a way to express my opinion on this situation and once again found wisdom and support in the words of my favourite US President: Ronald Reagan. The video below was delivered on the day of Reagans first inaguration. I would advise everyone to listen to the speech and pay heed to the implict warnings it contains which are never more apt than today. 

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14 thoughts on “A Lesson from History…

  1. “Few of you like facts”
    Excuse me?!

    Also, Dan, you and bloody Reagan. I’m going to put Thatcher, Reagan and the Queen in a three way fight and see which one you’d back.

  2. LOL A 3 way fight laura?…. ALL OF THE ABOVE! and what Jack interprets as fact others see as fiction and vice versa. Whos right? Only time will tell…. Id have a sneaky wager if anyone fancies though… with a snifter of gin (sorry almost missed that out laura!) lol

  3. ““Few of you like facts”
    Excuse me?!”

    Dan doesn’t like the fact that reagen was a fiscal disaster. he hides behind empty rehtoric because he doesn’t want to face the fact that Reagen increased the US national debt much more than Carter. I’m pretty sure he hasn’t even bothered to do his research on this and instead prefers to regurgitate things he’s heard at dinners with the Thatcher fan club.

  4. “…what Jack interprets as fact others see as fiction.”

    Are you denying that the national debt increased massively under Reagen?

  5. US DEBT ON THE DAY REAGEN ENTERED OFFICE: 33% OF GDP

    US DEBT ON THE DAY REAGEN LEFT OFFICE: 52% OF GDP

    Dan, you need a history lesson long before you start talking about ‘lessons from history’.

  6. Oh Jack, don’t worry I’m with you. I merely meant that not all of us are slightly deluded when it comes to the facts.

  7. As per Jack is over generalising and manipulating statistics to support his own conclusions and Id advise Laura not to be taken in by it. Yes national debt was high Ive never said it wasn’t if you’d care to look. But once again as with Thatcher you have to look at what they did to cause such high levels of debt and why they did it. Reagan, like Thatcher, became president during a period of record inflation and unemployment (commonly referred to as stagflation) yet, like Thatcher, this crippling economic situation had all but disappeared by the time he left office.

    Incidently ‘inceasing’ the national debt does not make him a economic disaster Jack although I see how youd like it to appear that way. Its how and WHY the national debt increased that is important. Both Thatcher and Reagan were operating in unnprecedented circumstances which you conveniently forget. We were at the peak of the Cold War for god sake! I think people forget just how close this world came to a nuclear war! As such both America and indeed Britain (to a much elsser degree) had to invest HUGE sums of money, money which arguably they couldnt afford, in order to ensure the soviet union came in to line. Reagan used Americas economic strength and spendpower to bully the soviet union and outspend them militarily making any soviet attempts at an arms race futile.

    Yes he left a national debt but so bloody what?! He helped save the world from the scourge of communism, he revived the economy what ever rubbish you spout and thus his ‘fiscal’ legacy is sound thank you very much. Both Thatcher and Reagan inherited broken and barren economies on the verge of total collapse in a very dangerous world. What they left was strong, sustainable economies and a blue print for economic growth over the next 20 years. As well as freeing the millions of slaves of communism. This is not me being a ‘raving republican’ or an ‘inexorable thatcherite’ this is me looking at what went before and what came after. What came after was a HECK of alot better to what came before.

    And Jack you say I need a history lesson… its REAGAN!!

  8. Well, Dan you talk about record inflation without realising that inflation can help to ease the burden of debt and Reagen helped to cause the recession of the early nineties. You feebly use the cold war as an excuse for the excessive borrowing. If that were a reasonable defence, then why did Reagen emphasise the problem of borrowing so heavily in the first place. He promised a ‘balanced budget within three years’ and failed miserably. The tax cuts that were delivered, then had to be reversed (‘read my lips…’) in order to rescue the economy. And as it happens, the last time the US national debt fell was in 1961 which was a much more competative period of the cold war. Further, even if we exclude the extra military spending the deficits would still have been huge.

    Reagen did little to end the cold war (it had much more to od with the inherent weaknesses in communism) and I find it charming that you revert to type in the last paragraph with hopeless generalisations and no real facts at all. I like that you describe an increase in the national debt from $700bn to $3 trillion as a sound fiscal legacy. How many people would like to agree with that?

  9. REAGAN. REAGAN. REAGAN. As Ive said before to you Jack I refuse to get in to this with you on here you just dont listen and I cannot express it as well as I could face to face. Next time I see you however I will drag you to one side and then we can have this little discussion. No doubt you will be at a tory event in the future… you never can seem to keep away

  10. I love the way you talk about Communism Dan.
    ‘scourge’
    ‘slaves’

    I mean, I might not be a leftie, but you do make me giggle.

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