Sunday, July 11, 2010

Robber Barons

no-one could have predicted the IMF coming in and actually supporting the new Labour approach to running the economy - but that's exactly what happened this week:

"In a rebuff to David Cameron's avowed intention to start repairing the public finances as soon as this spring's election is over, the Washington-based IMF said the fragility of the global economy meant stimulus packages should be left in place well into 2010."

The way this government are intent on dismantling the country's infrastructure reminds me of the behaviour of certain equity companies and their asset stripping style of management. In the way that we reaped the reward for thatcherism in the 90s and 2000s - out of control banks, no control of utlilities companies, ongoing housing crisis, millions on the employment scrap heap, and entreched permanent under-class, high urban crime, huge difference in life expectations of rich and poor, a no-hope attitude among the young, not at all fit for purpose education system, etc etc. then we will reap the reward for this in the next 20/ 30 years as our infrastructure continues to crumble and rot while large mega corporations run away with public money, and US investors suck the life out of the few remaining British companies. We're fucked. With this govermnent, doubly so.

Our current crisis was caused by the private sector and not enough public sector regualation. Most of us at the time realised this and thought that capitalism as we know may be over for ever. Now the right seems to have gained control despite a public shift to the left - they really didn;t want the Tories, with Murdoch support, an expensive campaign, and a truly awful incumbent Labour government, people still didn;t want to vote tory, however thanks to the traitorous Lib Dems we have the most right wing tory government we've ever had - and the right are intent on reducing or destroying the part of the economy that saved us and build up the part that nearly, and maybe still will, caused us to sink.

The Tories will blame New Labour for this - and while I hate New Labour for their refusal to challenge the status quo set by the tories - I can't see that they are the root cause of any of this. If anything their policy was to make the wealthy, mega-wealthy, having attracted them into the UK, and syphoning off a teeny tiny amount of this wealth to funnel to those not quite at the bottom, - for them it made living in a shit broken country with no opportunity just about tolerable, that and the ballooning consumer and celebrity culture. but there was nothing for the very poor, and nothing for the talented and bright who didn't just want money as a reward.

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