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A comment on British pound hits record low against the dollar. Parent comment

Re:British pound hits record low against the dollar by shellac on Monday September 26, 2022 @11:10AM (#32984139)
> untested combination of reducing tax (for high earners) and increasing borrowing

Oh, it was tested: in 1972 the Conservative government tried this, and it didn't go well.

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Re:British pound hits record low against the dollar by drumhead on Monday September 26, 2022 @11:59AM (#32984784)
There was also significant monetary loosening and the supply side was a lot less flexible. A year later we also had an oil price shock after the Yom Kippur war. Oil prices are actually falling now, the supply side is far less regulated and monetary policy is tightening. So I'd say there are significant differences.
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Re:British pound hits record low against the dollar by sprkwd on Monday September 26, 2022 @11:40AM (#32984535)
It seems like folks don't learn from their mistakes / history.
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