The conditions for which were sparked off by the casino economics that Thatcher/Reagan

de-regulation created.
I remember at the time saying "How can you have a service economy. If you don't make stuff, where does the money come from to support a service economy"
Well we now know, it comes from borrowing more than you earn which is what we have been doing since the end of the war. The only thing that disguised it during Thatcher's reign was the North Sea oil bonanza, most of which was spend on hugely increased welfare payments

Posted By: CB41, Apr 9, 15:06:20