[From our Cir Correspondont: THE CITY of London…]

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From our Cir Correspondont: THE CITY of London today put paid to Britain's knockers as stockbrokers started to spend. spend. spend our way out of trouble.

These angels in pinstripes put their money where their mouths are, by backing Mrs Thatcher's government ali the way.

In 30 short minutes after lunch they added millions of pounds to the value of British industry as share prices rocketed to record high levels.

Snub

It was a humiliating snub to the CBI. James Prior and the Labour Party and has shown once and for all that the economic recovery is well on the way.

Now Britain can hold its head up in the world's finan cial markets. Stockbrokers are convinced that Mrs Thatcher's fair but tough stand against inflation mind less militants and extremists is finally paying off While some people pass gloomy reports mouth on about the government, and bemoan their fate. it is on the skill and hard work of the bowler-hatted botfins that our prosperity really rests.

The decisions of this handful of elite men can make the difference between prosperity and ponury.'o Britain's leading companies. They are the SAS of Thatcher's army.

The boom in Britain came after shares in America also reached new high levels.

It was Henry Kautman the maestro of the US stock market. who started the panic buy. Secing his wife off from the rail station a passing journalist heard him mutter under his breath. "Buy. buy"

Within hours the shock news spread around Wall Struct.

Later. intervicwed on TV. Kaufman repealed the entent of the recotor. Ask ed about the tuture of the American economy. he said "It couldn't get any worse' • To the finely honed minds of America's market analysts, this was startling confirmation of the rumours. Only last week Kaufman had been predicting that things would. get worse before they got better. Now he was clearly anticip ating the end of the recession.

When the news reached London, there was pandi monium as stockbrokers jostled cach other to be first in the queue. Lighting broke out around the oil sectors and one man was taken to have an overdraft to buy bank shares.

Later talls of several thousand million were dis. missed 35 rountine profittaking.

Meanwhile. Mrs Thatcher has reacted with anger to the news that the Parlamenary Labour Party has joined the CBI.

Mi Pater Shard, Labour's shadow spokesman.: wid ther had decided to join after sering how many bankOrganiser no.97 August 26 1982 Page 4

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Worla tews MIDDIE EAST From SO's correspondent in Haifa darir BUS drivers and railworkers in Argentina struck for 24 hours last Wednesday, 18th. They are demanding wage rises.

The next day, the mechanics' union struck and demBehind the resignation this minister and central bank c regime. Martin Thomas rep week hief s orts.

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