Fifty shades of Dave (davywavy) wrote,
Fifty shades of Dave
davywavy

History does not repeat, but it does rhyme

1968-9: Faced with a slowing economy, the government loosens monetary policy. 2001-2: Faced with a slowing economy, the government loosens monetary policy
1968 - 1973: as credit eases, people put cheap money into hard assets, like houses. 2002 - 2007: as credit eases, people put cheap money into hard assets, like houses
1973: London and Counties Securities collapses, triggering secondary banking crisis. 2008-9: AIG and Lehman Brothers collapse, triggering primary banking crisis.
1973-79: Rise of extremist politics; nationalism and hard left and hard right. 2009 - 2015: Rise of extremist politics; nationalism and hard left and hard right.
1974: Oil price reaches historic high of $40. "Oil shock" ensues. 2009: Oil price reaches historic high of $147.
1974: UK Minority government elected, collapses. 2010: UK Minority government elected, forms coalition.
1979: Conservatives win majority. 2015: Conservatives win majority
1980: Michael Foot appointed leader of Labour Party. 2015: Jeremy Corbyn appointed leader of the Labour party.
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