You are of course right, but many people refer to these events as a repeat of the lifeboat operation of the seventies, I think that they are wrong. During this period there was an Investment Trust which went under. The staff got to know in advance, so they stripped the offices bare, they even took the skirting boards and the wall panels, as well as the dining table and chairs, they paid a fiver so as to be legal but these assets were worth thousands.
This is a Dreadnought economy, not the Titanic. Let me explain. Britain developed their Dreadnought fleet before WWI. They built the Titanic, unsinkable, only it sank. So, what happened, they realised that the Dreadnoughts were not unsinkable and that if they went down they would lose thousands of sailors. Much better to lose smaller ships, not so many lives lost.
So, they used the Dreadnoughts at Jutland and that was it. All the money was spent on unsinkable ships which sank, tens of thousands of sailors were lost and the Royal Navy was lost. Who would justify spending millons on ships which were lost the first battle they went into.
It is the same with the Banks, they were unsinkable they were Dreadnoughts. We are so finished. This will be known as the Dreadnought economy, the behomeths are gone.
Dreadnoughts
You are of course right, but many people refer to these events as a repeat of the lifeboat operation of the seventies, I think that they are wrong. During this period there was an Investment Trust which went under. The staff got to know in advance, so they stripped the offices bare, they even took the skirting boards and the wall panels, as well as the dining table and chairs, they paid a fiver so as to be legal but these assets were worth thousands.
This is a Dreadnought economy, not the Titanic. Let me explain. Britain developed their Dreadnought fleet before WWI. They built the Titanic, unsinkable, only it sank. So, what happened, they realised that the Dreadnoughts were not unsinkable and that if they went down they would lose thousands of sailors. Much better to lose smaller ships, not so many lives lost.
So, they used the Dreadnoughts at Jutland and that was it. All the money was spent on unsinkable ships which sank, tens of thousands of sailors were lost and the Royal Navy was lost. Who would justify spending millons on ships which were lost the first battle they went into.
It is the same with the Banks, they were unsinkable they were Dreadnoughts. We are so finished. This will be known as the Dreadnought economy, the behomeths are gone.