The Mudcat Café TM
Thread #165570 Message #3984939
Posted By: Iains
28-Mar-19 - 02:55 PM
Thread Name: BS: Brexit #3: A futile gesture?
Subject: RE: BS: Brexit #3: A futile gesture?
Any fool can play games with statistics. Political parties come and go, as do economic cycles. To take one statistic and plot it against time is simplistic in the extreme. It needs to be studied in context and trying to play party politics by simplifying the underlying realities achieves nothing other than a loss of credibility. There have been major changes in society over the last 20 years and in government policies. There were also depressions in the early 80's, 90's and 2008/9.
Interest rates generally declined during the recession from a peak of 17.0% at the beginning of 1980 to a low of 9.6% in October 1982.
Unemployment rose from 6.9% of the working population in 1990 to 10.7% in 1993.Annual inflation was 9.5% in 1990, 5.9% in 1991, 3.7% in 1992. and 1.6% in 1993. Interest rates were stubbornly high initially but declined from a high of 14.8% at the start of the recession to a low of 5.9% by the end of the recession
Manufacturing output declined 7% by end 2008 during the late 2000s financial crisis. The unemployment rate rose to 8.3% (2.68m people) in August 2011, the highest level since 1994.
All played a part.