THE BRITISH LABOUR PARTY MAY BE COMING TO AMERICA

Dr. Colman is warning us that the British Labour Party values and principles are coming to the United States.  I would say they are already here.  Just yesterday Sen. Warren announced she is introducing a bill to stop all “mega mergers”.  Worse, she also wants to break up previously ones going back thirty years.  That would mean most of the communication companies would be broken up.  All of the major technology firms, like Facebook, Microsoft and Google would be broken up.  At the same time Democrats are supporting the failed National Health Service of Britain—here it is called “Medicare for All”.

Education has been destroyed in our nation, from kindergarten to graduate school.  No discussions allowed, bullying of those with different views. History is taught to show our Founding Fathers were sexist, racist bigots and should be forgotten.  The British Labour Party led by Jeremy Corbyn is anti-Semitic—the Democrats, like the AOC Squad are vehemently hateful of Jews and Israel.

I think the only difference between the British Labour Party and the Democrat Party is the accents.

THE BRITISH LABOUR PARTY MAY BE COMING TO AMERICA

By Richard Colman, Exclusive to the California Political News and Views,  12/6/19 

Over 100 years ago, in 1900 to be exact, the British Labor in Great Britain was established. 

 In Britain, “labor” is spelled “labour.”

 The Labor Party generally has really been a socialist party that favors trade unions, democratic socialists, and workers’ rights.

 Today, the ideology of the Labor Party has infected substantial parts of America’s Democratic Party.

 If such American Democratic presidential candidates as Sen. Elizabeth Warren (D-Massachusetts) and Sen. Bernie Sanders (I-Vermont) lived in Britain, they would be part of the Labor Party.

 Socialists, whether in Britain or America, favor obligatory health insurance for all people, free education (especially at the university level), substantial pensions, pre-school education, child care, and other aspects of the welfare state.

 Some, perhaps many, socialists want to nationalize banks, insurance companies, utilities, shipping companies, pharmaceutical firms, and mines (like coal mines).

 Generally, socialists want high taxes, high wages, and more consumer services.

 Elizabeth Warren wants universal Medicare (health benefits for all Americans), a wealth tax, and higher payments for Social Security.

 But are socialists in America and Britain aware of the dangers of a socialist society?

 Socialism generally takes commerce out of private hands, replacing private ownership with government programs.

 With government control, what would happen to innovation, economic growth, and prices?

 One of the examples of socialism was the British government of Harold Wilson, who served as prime minister in the 1960’s and 1970’s.  Wilson, who seemed obsessed with so-called equality, came to power in October 1964, promising the British people better times.

 In November 1967, Wilson did something traumatic:  he devalued the British pound.  Wilson went on radio at 2 A.M. on a Sunday morning (after Saturday night) and changed the value of the pound.  Prior to devaluation, it cost $2.80 to buy one British pound.  After devaluation, one needed $2.40 to buy a British pound.  In percentage terms, the devaluation was 14.3 percent, meaning that an American dollar could buy 14.3 percent more pounds after devaluation.

 During his devaluation speech, Wilson said, “From now on, the pound abroad is worth 14 percent or so less in terms of other currencies. That doesn’t mean, of course, that the pound here in Britain, in your pocket or purse or in your bank, has been devalued.”

 The British people were not fooled.  They knew that the prices of French wine and Danish cheeses would be higher.  Devaluation of a currency is often accompanied by inflation.  In the wake of devaluation, workers generally demand higher wages to offset higher prices.

 Anthony Lewis, head of the London bureau of The New York Times, had a lead article in the Times about the November 1967 devaluation.  Lewis said that the political consequences of devaluation were likely to be severe.  Wilson and his Labor Party lost the next British general election.

 After devaluation, there were strikes.  British people and British industries exchanged their pounds for other, more stable currencies (like the American dollar).  British exports were disrupted.

 Prior to the devaluation, the British economy was in trouble.  Productivity of businesses was slumping.  The British government was spending money it did not have.  Prices were rising.  There were many strikes.

 Can America learn anything about the British Labor Party’s actions?

 If there is one lesson that can be drawn, it is that a socialist-leaning American presidency might lead to strikes, a lower standard of living, and th

If America does not have the discipline to manage its dollars properly, the result might be that a socialist-leaning American government might turn the nation into a pauper.  Jobs might become scarce.  Prices might rise sharply.

 Someone should ask if a Warren or Sanders administration in America would lead to a weaker dollar — just as Harold Wilson’s devaluation lead to collapsing pound.

About Stephen Frank

Stephen Frank is the publisher and editor of California Political News and Views. He speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows. He is a fulltime political consultant.