Wednesday 22 October 2008

The Falling Pound Will Take An Awful Lot Down With It

It's good for manufacturing.

Which is good for trade unions.

And which is (or would again be) concentrated in the North, the Midlands, the Scottish Lowlands and South Wales.

All that, and a public stake in the banks, too.

The Revolution is being reversed in reverse: first the turn of the century assault on the Constitution (the neutering of the Lords, the only logical end to the "process" of Scottish devolution, such economic case as there ever really was for a United Ireland), now the underlying 1980s assault on economic responsibility, and before long that which underlay (and was entrenched by) Thatcherism, namely the 1960s assault on moral and social responsibility.

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