Corbyn only offers false hope. The “good times” will last a matter of months or weeks! But what will follow will be years of further cuts to make good the damage. We can all get a loan and credit card and go mad for a few months or year, then suddenly reality hits and we have to cut back for years to repay the debt.
Your right of course, Corbyn’s Marxist policies will provide more to those on lower incomes and perhaps a lot more to those on benefits, but bribery tends to not last very long, and the ‘chickens will coming home to roost’, as they always have done, and the bribes and benefit increases will only be short term – his declared policies and vast overspending will invariably wreck the economy and bankrupt this country, and the sacrifices made by many over the past nine years of austerity ( which were caused by his party’s economic incompetence over the financial crisis in the first place ) will all be a complete waste, and new generations will begin to pay for his Cloud Cuckoo Land policies – and don’t forget Mr Corbyn , and even more importantly ,cannot carry out the role of Prime Minister if he will not promise to protect the U.K.
Thinking back on Labour governments , I remember that things were good in 1970, and the economy and housing market was booming, but the militant trade unions soon put paid to that, and due to the politicising of disputes etc,by these union leaders let there be no doubt or ambiguity, we were the sick man of Europe back then!
The early years of the Heath government coincided with prosperity rising house prices etc., and were part of the ‘never had it so good ‘ era, but by 1973, with inflation rising , the three day week because of the above mainly, and Northern Ireland warming up, things had taken a downturn!
So Heath was ousted and the Tory Government was replaced by the dull, grey socialist government of Harold Wilson .
In 1974 Wilson formed a minority government, even though the Tories won more votes!
Wilson called an election later in 74 and managed a 2 seat overall majority and then held a referendum over our membership of the EEC with two thirds voting to remain.
Inflation was rising, the economy was stagnating , typically Labour economic mismanagement, so Wilson eventually resigned and Jim Callaghan formed a government which was an unmitigated disaster, with the economy already in trouble , taking a nosedive , “crisis what crisis “ became the now infamous Callaghan slogan , whilst overseeing ‘ the Winter of Discontent ( with rubbish lying and rotting in the streets, and the deceased lying unburied) and then we went through a period of rampant inflation with 15% mortgage rates, ( I was in banking by then, and getting 22% overnight out of New York ) and we began seeing plenty of nonsense from Brussels like butter mountains and wine lakes and kilos and kilometres and double labelling of goods for sale, all on top of an incompetent government, led by yet another incompetent Labour PM
But to be fair, if it was not for our membership of the European trading block the IMF would likely have sent us packing, and we would have been ruined, so there were definite plusses to membership, but and it is a big BUT, this was membership of a trade cartel, the EEC – it was not , repeat again not the EU as we now know it!
What some refuse to acknowledge, fingers in their ears singing lalalalala whenever it was mentioned, is that the unelected Communist Union leaders of the day, which Comrade Corbyn would like to bring back to life, had –
a.brought down the democratically elected Heath government,
b.they had brought down the democratically elected Callaghan government, ( Callaghan even said that if he was younger he would emigrate-fact not myth ) and
c. they fully expected to bring down the democratically elected Thatcher government, but this is where they failed and the left cannot & will not forgive her for this and refuse to forget it seems – she stood up to Scargill , Red Robbo & Co, on behalf of the British people, and won!
Too many gullible soles have been indoctrinated by Socialist fairy tales , but the truth is –
• In 2008, our precarious position in a ‘limited financial crisis ‘( mainly European not a Global Crisis as Labour like to spin – just check which countries were actually involved ) was down to lack of supervision and naive management of the financial sector, & not just down to the Banks, ( And especially the pure greed by the Labour Government ) & of course their mismanagement of the whole economy, with of course massive overspending & throwing money at the public sector – which is – wait for it ‘Labour’s Client Base’, causing near bankruptcy, it was not ‘greedy, or dishonest bankers, even though the banks were involved.
• So, there is a salutary lesson to be learned come next Thursday , and that is ‘ 11 years later, we are still paying for the last labour economic disaster’ .
• The culprits brazenly claimed ( and still do ) , whenever they get in front of a camera, that 13 years of their policies whilst in government were not responsible for the economic mess we’re still in ten years later
• Not our fault Gov, twas those crooked Tory bankers!
• Ed Miliband and his spin doctors , claimed ‘ Overspending is not to blame for the debt ‘ – just the same as Tony Blair did.
• But, It’s nonsense of course: what else creates bad debt other than overspending – Bad weather, The bad debt fairy, Martians?
• No, the previous Labour government bear a great deal of responsibility for the debt crisis, because they overspent, overspent and yes overspent , whether that was on so called good causes or simply recklessly overspending on their client base, is immaterial.
• The IMF confirmed (fact again ) that the prosperity that Labour prided itself on, and spun and spun and spun, was in fact a ‘debt-fuelled illusion’, and crucially, it also confirmed that 2007 was the worst year for economic overheating since at least the 1970s.
• Labour lied to the country about the debt situation and even claimed that “By 2007-08, the public debt was significantly below , the levels inherited in 1997:” -this was a blatant and out & out lie.
• Anyway, the basic fact was that the Labour government was borrowing like there’s no tomorrow, & after April 2001, Labour simply gave up balancing the budgets
•
• The price of debt was kept artificially low, so households borrowed too.• It was a mountain of debt, built upon debt. Blair, along with Brown, really does bear huge responsibility for the longest recession in our history, and they are the true cause of cutbacks and austerity, not the current government?
• Labour under Blair simply abandoned attempts to balance the books, leaving others to try and get us out of the mess they left, and who pays , even now ‘we do’ of course, the poorest in society, and if any one thinks that austerity up to now has been tough, think again, because life has been relatively easy compared to what is likely to happen if the wild Marxist spending agenda proposed by Corbyn and the ever sinister McDonnell (which will saddle us with mind blowing levels of borrowing/debt ) is implemented by Corbyn’s Labour Party , if they get into power!
•
• In 1997, Labour inherited borrowing of 3% of GDP, with a Government Debt of 45% of GDP, which amounted to £350Billion & by 2008 it had risen to 5.1% and 51% of GDP amounting to £ 527 Billion.That’s me done – hope everyone wins their particular ‘lottery’ next Thursday!