What Thatcher's Fall Can Teach the GOP About Change

January 8, 2016 By E.J. Smith - Your Survival Guy

Is the GOP ready for a big time change? I think so, but this from Peggy Noonan is sticking with me this morning. In her column Noonan writes about the fall of Margaret Thatcher:

In 1989 Thatcher moved to impose a change in the British tax system. This caused resentment and then unrest. She wouldn’t back down, and the next year she fell. Years later she told me what she’d learned. People are afraid, she said; they live closer to the margins than we understand. When you propose a big change you can leave people feeling as if the rug is being pulled from under them. That’s a big thing to learn, and she spoke of it with humility.

She lost her job by being too tough. Ms. Merkel has imperiled hers by being too soft. But the lesson is the same: know how close to the edge people feel, how powerless, and respect their anxiety. Don’t look down on it, and them.

VIDEO: Some of Thatcher’s greatest lines:

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.

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