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Comment by sparkie | Hacker News Reader

So you want to blame a Prime Minister who came to power in 1979 for something that very clearly started during the previous Labour government throughout the 1970s, and just continued afterwards? Seems to be missing a few details about the state of the British economy under Labour rule. You can also see that during the Blair years, house building declines at an even more rapid rate than during the previous Conservative government.

The only thing you can blame Maggie for in this chart is what comes after 1989, which is when she introduced policy (suggested by Viscount Monckton) that allowed people in social housing to buy their homes from government for the first time.

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>So you want to blame a Prime Minister who came to power in 1979

She was the opposition leader from 1975 and was using monetarist arguments to "fix" a problem that was purely geopolitical (Oil crisis). Would you be fine with extremist parties today suggesting the inflation due to the War in Ukraine being due to bad management(and not the war)? That's what Thatcher did.

>You can also see that during the Blair years, house building declines at an even more rapid rate than during the previous Conservative government.

The entire point of Blair is that he was a Thatcherite through and through on economics. The "Third Way" is Thatcher economics with "social justice" slapped on top.

Inflation is not due to the war in Ukraine, but is due to bad management of COVID and excessive money creation. It may be exacerbated by the war, but that is certainly not the cause. The same is of course true for the 1970s because we know what happened in 1971. We can't really blame Labour or Conservative governments for that, as it came from the US.

Easy money -> weak economy.

https://wtfhappenedin1971.com/

How to cure inflation: https://www.freetochoosenetwork.org/programs/free_to_choose/...

Same logic as "Biden caused inflation"

Inflation was caused by lockdowns and the excessive money creation that happened during that time and nothing else. In Britain, they're still trying to blame Brexit for inflation, despite every other nation that wasn't involved in Brexit seeing similar levels of inflation.

Clearly this wasn't a Biden policy, but it wasn't really a Trump policy either. It was a WHO/WEF policy that was force-fed to everyone, and supported by all Democrats and most Republicans. A major mistake that policy-makers all over the world still refuse to acknowledge. You can dig up the news articles from 2020 where they're saying "It won't cause inflation," in 2021 where they deny inflation is happening, and in 2022 where they say "it's transitory." Constant gaslighting from governments and media alike. I've described this before: https://news.ycombinator.com/item?id=32645544, and also predicted it would happen when it was being proposed, but of course, I'm wrong, according to everyone who did not predict it.

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