Date Posted:14:59:31 01/28/07 Sun Author:RMW Stanford Author Host/IP: 74-134-107-100.dhcp.insightbb.com / 74.134.107.100 Subject: Re: Why did the British Empire break up? In reply to:
Anthony
's message, "Re: Why did the British Empire break up?" on 13:59:22 01/28/07 Sun
>
>Obviously you think we have to pay you for the
>privledge of fighting your future enemies
No but you should pay for what used, it simple economics nothing is free and what you paid was less than the production cost.
while sunk
>in your selfish neutrality until pearl harbour,
I wonder if the Chechs and Chinese think the same of the UK to? The UK and France did not enter the war until they believe that it was in there national interest do do so, the US did the same.
so the
>interest was so low its only recently the entire sum
>has been paid back, is that your idea of low interest?
I would say that a fixed rate nominal interest rate of 2 percent is pretty damn low interest rate, particular when you take inflation into account the real interest rate was negative. So I would say yes that a is pretty low interest rate, see how many other entities get rate that low. The British government could of paid the loan off early had they chosen to but because of the low interest rate it made no sense to. Nor it all that long when you consider that Britain still has debt from the Napoleonic wars.
Here a nice little quote about how "outrageous" those loans were.
"In a nutshell, everything we got from America in World War II was free," says economic historian Professor Mark Harrison, of Warwick University.
