Margaret Thatcher rescued Britain from its economic death.
Yet that dying patient now is glorified by the socialists and sympathizers who fought the tough medicine needed to break the death grip.
Andrew Sullivan summed it up well in a post I linked on the day of Lady Thatcher’s death:
To put it bluntly: The Britain I grew up in was insane.
One of the inmates now is helping run the asylum, and gave an epic and delusional rant in a House of Commons “Tribute” session.
Some call it a “quite righteous” speech.
Actually, it was just insane. Like Britain once was.
Here’s a description of Glenda Jackson’s “good old days” before Margaret Thatcher uprooted the old order:
Britain’s economy was in such a dire state during the Seventies that the US warned Labour Prime Minister Jim Callaghan the UK had to live within its means, newly-released documents reveal.
The crisis was so acute that US President Gerald Ford’s administration was forced to mount a rescue mission to bail out Britain.
The country was locked in a downward spiral of double-digit inflation and inflationary union pay demands at a time of spiralling debts and a sinking pound.
The US’s concerns came in 1976 when – in what may result from the current General Election battle – Labour depended on Liberal support to maintain power at Westminster.
A senior US official is quoted in the State Department documents telling President Ford that many believed ‘the UK still does not appreciate the gravity of its situation and/or lacks the will to deal with it’….
On March 29, 1976, the Under-Secretary of State for Economic Affairs Charles Robinson wrote: ‘The UK’s persistent double-digit inflation and low productivity have forced abandonment of serious Bank of England efforts to defend the pound.’
Workers, he said, have ‘demanded and been granted inflationary wage increases’. He suggested the ‘critical’ situation may require ‘extraordinary measures beyond the capacity of the International Monetary Fund and the European Community [now the European Union]’.
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