Tuesday, April 9, 2013




Margaret Thatcher
"...I read the news today, oh boy...."

Margaret Thatcher was a name from my youth to which I never really paid much attention.  It wasn't until I was older and much more mature that I felt compelled to read the history of her and her many years as Prime Minister of England. (Of course, having Meryl Streep play her helped tickle my curiosity.)  I am not an expert, by any means, but I'm not ignorant either.  I know she had a very checkered economic record during the 80's as the economy suffered an excruciating squeeze as both interest rates and the exchange rate jumped. The number of unemployed soared to a post-war high of over 3m in 1986.  Yet, despite these setbacks, household incomes began to rise sharply after the recession.  She was able to cut government spending back to under 40% of GDP and the budget deficit was brought under control resulting in a new economic course away from state control and towards the market disciplines that paved the way for price stability.  (Yes, Obama could learn something from her where balancing our budget it concerned!)

But, besides her success in turning the economics of her government around, there were some things that I had no idea about until I read the news of her death, today.

1.  Soviet Journalists gave her the nickname "The Iron Lady" because of her ferocious will and determination.

 2.  Thatcher helped develop soft-serve ice cream.  Prior to her political life she was a research chemist and worked as a food scientist.  She developed additives for ice cream and she and her team discovered a method of doubling the amount of air in ice cream to make it "soft serve".

3. Thatcher refused 20 female karate-chopping bodyguards that the Japanese had arranged for her.  The Japanese were told that Ms. Thatcher was attending the meeting as Prime Minister and not "as a woman per se".  So she was given, like every other dignitary there, 20 karate chopping gentlemen.

4.  Thatcher did her own cooking.  In the 11 years that she served as PM, she never once had a chef in her employ.  Every night she cooked for her husband as well as for cabinet members who frequented her apartments.


5.  When asked if she would have gone into politics as a "do-over" she said she would not.  She said the toll it took on her family was regrettable.

Oh...and she was born on Friday the 13th.

Just little things but I'm sure they will be questions on the new Trivial Pursuit Game.


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