How The 70s Completely Destroyed Britain's Economy | EP 4

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Join this channel to get access to perks: https://www.youtube.com/channel/UCUYK0BJZF3yNb2fw1EdAXUQ/join Our whole series on the 70s can be found here: https://www.youtube.com/playlist?list=PLEbAHi3fZpuH9UFoUs9qNUbgBnjeay0qE EP 1: https://youtu.be/-Pn5yGnrbxk EP 2: https://youtu.be/1exM52kaGAU EP 3: https://youtu.be/8QIGseLdLk0 How did the new British Prime Minister, Jim Callaghan, intend to keep Britain from bankruptcy in 1976? What extreme new step might have seen riots in the streets? And, would labour survive the greatest financial scandal in British history? Join Tom and Dominic as they reach the epic conclusion of their dramatic series on the most uproarious years of the 1970s in Britain, including the high point of the crisis, and the rise of punk. 0:00 Sex Pistols shock Britain on live TV 4:36 Jim Callaghan: Britain’s old-school Labour PM 11:07 Why Callaghan was compared to Stanley Baldwin 13:12 Callaghan’s cabinet: Healey, Foot, and Benn 16:25 Britain’s economic crisis 20:15 Sterling collapses 22:24 Britain’s summer of crisis 24:07 Tony Benn’s Alternative Economic Strategy (AES) 27:02 Healey’s interrupted holiday 29:54 The Labour conference from hell 31:42 Callaghan’s “borrowed time” speech 34:36 Healey turns back at Heathrow 36:55 Sex Pistols, Bill Grundy, and the IMF drama 38:06 Healey faces Labour conference fury 41:56 Interest rates hit 15% 43:28 Punk captures Britain’s “no future” mood 46:51 IMF inspectors arrive in London 48:08 The ghost of Ramsay MacDonald 50:14 The crisis meetings... 57:48 The Sex Pistols step in 1:01:29 Callaghan wins the cabinet battle 1:04:46 Did Callaghan prepare the way for Thatcher? 1:07:48 Thatcherism ahead... Twitter: @TheRestHistory @holland_tom @dcsandbrook Social channels: https://www.instagram.com/theresthistory/ https://www.tiktok.com/@theresthistory https://x.com/TheRestHistory https://bsky.app/profile/theresthistory.bsky.social https://www.threads.com/@theresthistory Video Editors: Jack Meek, Harry Swan + Adam Thornton Social Producer: Harry Balden Produc