I started this blog in June 2007 asking these questions: Are we in a massive asset bubble that will blow up in our faces ??? - ANSWERED YES ! Is western and particularly British society on the verge of social collapse??? What are the best common sense long term investment strategies to keep you rich? When will consumption/debt bubble economics end and a real savings/production economy begin ???

Saturday, 12 September 2009

In 1976 the UK put Keynesian economics in the dustbin of history - why did they pull it out ???

Back in 1976, then Labour Prime Minister Jim Callaghan told his own party conference: "We used to think you could spend your way out of recession … I tell you now in all candour that option no longer exists … In so far as it ever existed, it worked only to inject larger doses of inflation into the economy, followed by higher unemployment as the next step".


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