The article doesn’t mention the 2008 collapse. Hell, in the first couple of paragraphs it states:
and
Even people who have difficulty with math can do the subtraction: 2008-1997 = 11 years. 2013-15=1998. So Thatcher caused the 2008 crisis 11 years after her party was voted out of office? A man wrote this article in 1998 proving Thatcher was responsible for the 2008 financial crisis?
Back a year or so ago we had a pretty long GD thread, You have 100 Blame Points. Assign them to those responsible for the financial meltdown, and while there were people who mentioned Reagan and his administrations willingness to deregulate, not a single one mentioned Thatcher (though, admittedly, the thread was from an American viewpoint.) Even a careful reading of the 2008 crisis literature shows that much of the true underlying causes were created under Clinton and Carter (see my post #57 in the linked thread for more info.)
Regardless, your cite does not say what you are claiming it says (hell, it cannot say what you are claiming it says), so you may wish to try again.
Could you maybe explain your arguments yourself? And no, “Thatcher deregulated stuff” is not an explanation. The fiscal crisis was not caused by “something being deregulated.” It was a complex event with a lot of things that combined to cause it to happen.
I’m especially curious as to how a book excerpt written in 1998 explains the 2008 fiscal crisis.
My point was simply that the crisis could not have happened without a degree of financial-sector deregulation that would have been considered unthinkable in 1979 in both the UK and the U.S.; and that deregulation would not have been possible without Thatcher (or someone like her) as PM and Reagan (or someone like him) as POTUS. Of course there were many causes; Thatcherism/Reaganism was a necessary but not sufficient condition for the crisis.
Which county in Europe isn’t a basket case?..the Germans who make high quality “stuff” and detest “hedge funds”..flogging each other insurance is all very well,but someone has to make something to afford it.
[/quote]
The Germans that have embroiled themselves in the disaster that is the Eurozone, precisely to make their manufacturing sector more competitive, and in the process have opened themselves up to the dirigiste influences of the French and Italians, whilst transferring more and more of their money further south to keep the whole thing from tanking and taking the German economy with it?
