But it's also quite vulnerable on some level, so thank you for your willingness to highlight this defining era of British history and economics within such a personal context.
Thank you so much for saying that Stephanie, that means a lot as it’s so personal and so sad to me to write some of these things, but also I find it hugely satisfying. Especially when I read comments like this 🥰
Apparently, Thatcher herself was uneasy about the credit boom, and never actually had a credit card.
I suppose maybe, in the end, she allowed it to happen as people are more likely to vote for you if they have more money in their pockets (even if it isn't really theirs).
Fascinating Faith. I am pitched right back to those times...albeit with a different set of experiences - close to the reality of the Miners Strike on the one hand and talk of the booming City, BMWs and massive lunchtime sessions in City Wine Bars on another...My first job in financial services was as a Mortgage Broker in 1989 as interest rates continued to soar. Crazy times.
Can't wait (said with a little fear and apprehension) for Track 4....
Wow you were in the thick of it - I'm fascinated by the 3-hour lunches of the 80s - expenses accounts etc. What a baptism of fire to be a mortgage broker in 89! Thank you Ruth!
I'm about the same age as you I think but a different background (Welsh mining family parents who had moved to London and worked in the public sector, and were absolutely allergic to debt/risk) and this is such an interesting perspective. Your experience is very different from my experience, but I do remember that sense of economic boom in the late '80s (my dad suddenly got a Saab, and our old pine dining table was replaced by an antique oak farmhouse one - very South London boho). This piece is like a missing piece of the jigsaw from my childhood.
Thank you so much Rowan. That’s so interesting- that even risk averse people would succumb to those upgrades. That was the impression I got, but this a missing piece for me too. Funny to think of what was happening to people of a similar age in different parts of the country at the same time.
Lovely read Faith. I feel so sad for those made to feel a failure when the crash happened. They had guts and drive (and great pride) - You were from Beaulieu! Beautiful part of the country. The donkeys do it for me!
Loving the way you are presenting this to us, Faith. I look forward to each "track" like I used to look forward to appointment television back in the 90s and 2000s!
The ‘winter of discontent’ Maggie and her policies 😏. That must have been heartbreaking for you all and really tough ! You have written this so well , it’s so good to see history not just as policy and numbers but through actual lived experiences. Thank you for sharing your experience Faith 😊
Another banger of a track, though tinged with melancholy and wistful perorations on where it all went wrong. Thatcher once again rearing her ugly head.
I've mentioned in previous posts, or at least alluded to the fact that I was luckily insulated from all this, growing up in a military household with housing and everything provided. It wasn't really until the mid-90s that I learnt about just how devastating the 80s and their excess were, what with all the growing income inequality and all that. It was two books that really hammered it home - Martin Amis' Money and Tom Wolfe's Bonfire of the Vanities. Money captured the earlier days while Bonfire looked at the downfall of the so-called Masters of the Universe.
Thank you so much Daniel! I love Martin Amis's Money, but have never read Bonfire of the Vanities - it's on the list though. I wish I had a separate pair of eye balls to read everything I'd like to. I've only managed 1 book this year 😖
A few times over the years. I camped and stayed in the New Forest loads from the mid 90’s. I was there two years ago though for a pub bus thing when staying with a friend in Southampton.
Thank you Wendy, I really love that take on it. I suppose that's what I've been trying to articulate without consciously realising that was the motivation 😊
Great storytelling as always Faith. I should've seen the crash coming and yet somehow I didn't! (A wail that I'm sure echoed across the south east in the late 80s). If this is going where I think it's going, then part 4 will hit home with me a little harder than part 3 did.
Logically, I'm thinking Black Wednesday. Which wasn't traumatic or anything for me personally, but definitely rocked my old man and did shake up the comfy dynamic at Casa del Holmes back then.
Ah interesting! Isn't it funny how these wide terms actually did mean something to real people... there's definitely be another cycle of boom and bust coming! 🥴
I mean, obviously I was aware that something pretty big had happened, but I had no idea how hairy it got until I was a bit older. It's not like my paper round money went into the household budget or anything.
I remember my mum getting her 15% mortgage on the council house that she had just bought and she never really recovered. My step-brother moved out of his new flat and left the keys on the sideboard. I bought my flat in Plymouth four years after the crash and it still went down, down, down.
I missed most of the action though. I was at BRNC Dartmouth in 1988 and travelling the world in 1989. Good times!
Influenced by all this, I waited way too long to buy a house in Silicon Valley and when my friend bought a three-bedroom for $300k I said, "The prices will crash soon!". When he sold it in a few years for $900k I said "Oops. Perhaps I'd better buy one." I could only afford a two-bedroom by then though and my teenage son and daughter had to share a bedroom.
Gosh these are devastating anecdotes Ragged. Thank goodness you were away for most of it! It's annoying how these things will always get us in the end - and yet the temptation to think - when it's going right - that it's all down to us is only natural.
I was a teen in the '80's and remember my parents getting a colour TV because my dad was turning work down he had so much of it (he was a builder) and then it was like someone plugged a tap and it just stopped.
I still blame Thatcher though. All that privatisation left the UK in a right mess. It was like burning your clothes on a fire to keep warm.
This is so good to read!👍👍👍
But it's also quite vulnerable on some level, so thank you for your willingness to highlight this defining era of British history and economics within such a personal context.
Thank you so much for saying that Stephanie, that means a lot as it’s so personal and so sad to me to write some of these things, but also I find it hugely satisfying. Especially when I read comments like this 🥰
Apparently, Thatcher herself was uneasy about the credit boom, and never actually had a credit card.
I suppose maybe, in the end, she allowed it to happen as people are more likely to vote for you if they have more money in their pockets (even if it isn't really theirs).
I can totally believe that - terrifying thought. Thanks so much for reading 😊
Fascinating Faith. I am pitched right back to those times...albeit with a different set of experiences - close to the reality of the Miners Strike on the one hand and talk of the booming City, BMWs and massive lunchtime sessions in City Wine Bars on another...My first job in financial services was as a Mortgage Broker in 1989 as interest rates continued to soar. Crazy times.
Can't wait (said with a little fear and apprehension) for Track 4....
Wow you were in the thick of it - I'm fascinated by the 3-hour lunches of the 80s - expenses accounts etc. What a baptism of fire to be a mortgage broker in 89! Thank you Ruth!
I'm about the same age as you I think but a different background (Welsh mining family parents who had moved to London and worked in the public sector, and were absolutely allergic to debt/risk) and this is such an interesting perspective. Your experience is very different from my experience, but I do remember that sense of economic boom in the late '80s (my dad suddenly got a Saab, and our old pine dining table was replaced by an antique oak farmhouse one - very South London boho). This piece is like a missing piece of the jigsaw from my childhood.
Thank you so much Rowan. That’s so interesting- that even risk averse people would succumb to those upgrades. That was the impression I got, but this a missing piece for me too. Funny to think of what was happening to people of a similar age in different parts of the country at the same time.
Lovely read Faith. I feel so sad for those made to feel a failure when the crash happened. They had guts and drive (and great pride) - You were from Beaulieu! Beautiful part of the country. The donkeys do it for me!
Thank you so much Sharon. I love that you’ve honed in on that. It really was sad! But at least there were 🫏s 😊Have you been to Beaulieu?
Yes I have, twice. Took my mum there a few years back and again with my husband one Christmas. Love the place :)
Oh it would be lovely at Christmas!
You write this so well I felt anxious just reading it!! On the edge of my seat waiting for the next track!!!
Aw thank you Ruby that's such a great thing to say!
Loving the way you are presenting this to us, Faith. I look forward to each "track" like I used to look forward to appointment television back in the 90s and 2000s!
Oh that's great feedback thank you so much Tim - truly immersive - glad you're enjoying it!
The ‘winter of discontent’ Maggie and her policies 😏. That must have been heartbreaking for you all and really tough ! You have written this so well , it’s so good to see history not just as policy and numbers but through actual lived experiences. Thank you for sharing your experience Faith 😊
Thank you so much Francis - that's such lovely feedback!
Another banger of a track, though tinged with melancholy and wistful perorations on where it all went wrong. Thatcher once again rearing her ugly head.
I've mentioned in previous posts, or at least alluded to the fact that I was luckily insulated from all this, growing up in a military household with housing and everything provided. It wasn't really until the mid-90s that I learnt about just how devastating the 80s and their excess were, what with all the growing income inequality and all that. It was two books that really hammered it home - Martin Amis' Money and Tom Wolfe's Bonfire of the Vanities. Money captured the earlier days while Bonfire looked at the downfall of the so-called Masters of the Universe.
Thank you so much Daniel! I love Martin Amis's Money, but have never read Bonfire of the Vanities - it's on the list though. I wish I had a separate pair of eye balls to read everything I'd like to. I've only managed 1 book this year 😖
Bonfire of the Vanities is one of my favourite books - I think Tom Wolff practically broke himself writing it.
Wow sounds superb
I really love your storytelling and can't wait to see what happens (happened) next.
I was wondering where you grew up. I've been to Beaulieu, it's beautiful.
Thank you so much Dean! Ah yes it really is picture perfect - as its name suggests! When did you go?
A few times over the years. I camped and stayed in the New Forest loads from the mid 90’s. I was there two years ago though for a pub bus thing when staying with a friend in Southampton.
I imagine it’s changed a lot. Camping in the New Forest must have been amazing
1980s boom and bust so well-described, Faith. A reminder of the devastating impact on ordinary lives.
Thank you Wendy, I really love that take on it. I suppose that's what I've been trying to articulate without consciously realising that was the motivation 😊
Great storytelling as always Faith. I should've seen the crash coming and yet somehow I didn't! (A wail that I'm sure echoed across the south east in the late 80s). If this is going where I think it's going, then part 4 will hit home with me a little harder than part 3 did.
Ha ha thank you Lewis - yes that's exactly it!!
I'm intrigued as to where you think part 4 might go - I'll try to keep it light!
Logically, I'm thinking Black Wednesday. Which wasn't traumatic or anything for me personally, but definitely rocked my old man and did shake up the comfy dynamic at Casa del Holmes back then.
Ah interesting! Isn't it funny how these wide terms actually did mean something to real people... there's definitely be another cycle of boom and bust coming! 🥴
I mean, obviously I was aware that something pretty big had happened, but I had no idea how hairy it got until I was a bit older. It's not like my paper round money went into the household budget or anything.
I remember my mum getting her 15% mortgage on the council house that she had just bought and she never really recovered. My step-brother moved out of his new flat and left the keys on the sideboard. I bought my flat in Plymouth four years after the crash and it still went down, down, down.
I missed most of the action though. I was at BRNC Dartmouth in 1988 and travelling the world in 1989. Good times!
Influenced by all this, I waited way too long to buy a house in Silicon Valley and when my friend bought a three-bedroom for $300k I said, "The prices will crash soon!". When he sold it in a few years for $900k I said "Oops. Perhaps I'd better buy one." I could only afford a two-bedroom by then though and my teenage son and daughter had to share a bedroom.
House prices, eh?
Gosh these are devastating anecdotes Ragged. Thank goodness you were away for most of it! It's annoying how these things will always get us in the end - and yet the temptation to think - when it's going right - that it's all down to us is only natural.
Thanks so much for reading 😊
I'm definitely enjoying it — but you always remind me of a similar story that I need to share!
Keep it up!
Ha ha and you! When’s the next chapter?!
I have an essay due this week. Maybe next week!
I'll be waiting!
Superbly written - zeitgeist captured!
Thank you so much James!
I was a teen in the '80's and remember my parents getting a colour TV because my dad was turning work down he had so much of it (he was a builder) and then it was like someone plugged a tap and it just stopped.
I still blame Thatcher though. All that privatisation left the UK in a right mess. It was like burning your clothes on a fire to keep warm.