Wednesday, 15 June 2011

DEBT CRISIS LOVES LOW WAGES AND REDUCED WORKING RIGHTS!


"Financial strategists do not intend to let today’s debt crisis go to waste. Foreclosure time has arrived. That means revolution – or more accurately, a counter-revolution to roll back the 20th century’s gains made by social democracy: pensions and social security, public health care and other infrastructure providing essential services at subsidized prices or for free. The basic model follows the former Soviet Union’s post-1991 neo-liberal reforms: privatization of public enterprises, a high flat tax on labour but only nominal taxes on real estate and finance, and deregulation of the economy’s prices, working conditions and credit terms.
            What is to be reversed is the “modern” agenda. The aim a century ago was to mobilize the Industrial Revolution’s soaring productivity and technology to raise living standards and use progressive taxation, public regulation, central banking and financial reform to distribute wealth fairly and make societies more equal. Today’s financial aim is the opposite: to concentrate wealth at the top of the economic pyramid and lower labour’s returns. High finance loves low wages". (Remember how we got the first waves of mass immigration from Asia to Britain, mill owners in the North of England bringing in cheap Bangladeshi workers).

That's a quote from a piece by a Prof. Michael Hudson, the full content of which can be read here.  And I do urge you to read it.  He's obviously an extremely well informed and educated person and as such, it is better than the usual standard of shite, I spout!

As I'm sure most of you know, I'm not a natural left winger and would never class myself as such, but there are things going on in the world that we are not party to and are out with our 'democratic control'.  The Bankers discovered centuries ago, and you know of whom I speak, that Rulers were a bad risk.  When they died, mostly their successors would have nothing to do with their debts.  They did discover however that it was better to lend to 'democratic' Governments because the elected politicians had a responsibility to pay off a country's debts.  This is what is happening in Greece at the moment.  The Bankers insist that Greece should sell off all it's assets to pay them back for, what was in the first instance, their fuck up.  It's no wonder that the people of Greece are rebelling as they see their pensions, wages and workers' rights, go down the Swanee.

Oh It's OK saying their rights were too good and they should pay etc, etc, etc.  But remember that, when the bankers come for your pension or your NHS or, god forbid, foreclose on your home.  They are already talking about summoning Osborne to the EU Parliament to explain his economic policies.  Will the British people have the strength of the Icelandic people to stand up to the ECB, or will we fold as usual as our elected representatives get paid off with influential jobs in the coming Global Government?

I know what my guess would be!

7 comments:

McGonagall said...

A great post DL. This is the standard I will now hold you to.

Gallovidian said...

"Remember how we got the first waves of mass immigration from Asia to Britain, mill owners in the North of England bringing in cheap Bangladeshi workers"

Yes and remember in the 1920s when the big capitalists wanted to import Chinese labour into Britain, the TUC said that a General Strike would start when the first Chinaman set foot ashore and finish when the last Chinaman left. Changed days indeed.

Today international capital; the neocons, and international socialism; the Trotskyites, walk hand in glove to the same hidden music, like people dancing to a secret tune at a silent disco.

Oh and I know we both agree as to who is behind this.

Dark Lochnagar said...

McGonners, Are you trying to say my usual posts are below this standard? :)

domain registration india said...

Really great explanation and you have described everything very clearly in this post.

Dark Lochnagar said...

Gallos, aye a different world right enough. But is it? They say that if you don't learn from history you're sure to repeat it. Wait until they get medical research to such an extent that a human can be kept alive for 200 years. We'll see our true nature then.

Dark Lochnagar said...

Indiana, welcome to the blog and I thank you for your compliment.

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