History does not repeat, but it does rhyme

[davywavy]

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.

Comments

[(Anonymous)]

Isn't that slightly unkind to Michael Foot?

[drplokta]

Foot was appointed leader of the Labour party (because only Labour MPs got to vote), but Corbyn was elected leader of the Labour party, because all Labour members got to vote.

[davywavy.livejournal.com]

Anyone with £3 got to vote. Many were not members of the party.

[drplokta]

There you go, then. An even wider electorate. Definitely elected and not appointed.

[davywavy.livejournal.com]

Is that going to change the outcome, do you think?