Thursday, October 23, 2008

Beginning with Margaret Thatcher’s election in 1979, government after government — and party after

The God That Failed

Perhaps the most striking fact revealed by the global financial crash -- or rather, by the reaction to it -- is the staggering, astonishing, gargantuan amount of money that the governments of the world have at their command. In just a matter of days, we have seen literally trillions of dollars offered to the financial services sector by national treasuries and central banks across the globe. Britain alone has put $1 trillion at the disposal of the bankers, traders, lenders and speculators; and this has been surpassed by the total package of public money that Washington is shoveling into the financial furnaces of Wall Street and the banks. The effectiveness of this unprecedented transfer of wealth from ordinary citizens to the top tiers of the business world remains to be seen.

Posted by malct @ 01:00 PM (1258 views)
Please complete the required fields.



26 thoughts on “Beginning with Margaret Thatcher’s election in 1979, government after government — and party after

  • from the article

    The money was there — billions and billions and billions of dollars of it, trillions of dollars of it. We can see it before our very eyes today — being whisked away from our public treasuries and showered upon the banks and the brokerages.

    Let’s say it again: The money was there all along.

    Money to build and generously equip thousands and thousands of new schools, with well-paid, exquisitely trained teachers, small teacher-pupil ratios, a full range of enriching and inspiring programs.

    Money to revitalize the nation’s crumbling inner cities, making them safe and vibrant places for businesses and families and communities to grow.

    Money to provide decent, affordable and accessible health care to every citizen, to provide dignity and comfort to the elderly, and protection and humane treatment for the mentally ill.

    Money to provide affordable higher education to everyone who wanted it and could qualify for it. Money to help establish and sustain local businesses and family farms, centered in and on the local community, driven by the needs and knowledge of the people in the area, and not by the dictates of distant corporations.

    Money to strengthen crumbling infrastructure, to repair bridges, shore up levies, maintain roads and electric grids and sewage systems.

    Money for affordable, workable public transport systems, for the pursuit of alternative sources of energy, for sustainable, sensible development, for environmental restoration.

    Money to support free inquiry in science, technology, health and other areas — research unfettered from the war machine and the drive for corporate profit, and instead devoted to the betterment of human life.

    Money to support culture, learning, continuing education, libraries, theater, music and the endless manifestations of the human quest to gain more meaning, more understanding, more enlightenment, a deeper, spiritually richer life.
    The money for all of this — and much, much more — was there, all along. When they said we couldn’t have these things, they were lying — or else allowing themselves to be profitably duped by the high priests of the market cult. When they wanted a trillion dollars — or three trillion dollars — to wage a war of aggression in Iraq, they found it. Now, when they want trillions of dollars to save the speculators, fraudsters and profiteers of greed in the global market, they suddenly have it.

    Who then can believe that these governments could not have found the money for good schools, health care, and all the rest, that they could not have enhanced the well-being and livelihood of millions of ordinary citizens, and helped create a more just and equitable and stable world — if they had wanted to?

    This is one of the main facts that ordinary citizens around the world should take away from this crisis: the money to maintain, secure and improve the lives of their families and communities was always there — but their governments, and their political parties, made a deliberate, unforced choice not to use it for the common good. Instead, they subjugated the well-being of the world to the dictates of an extremist cult. A cult of greed and privilege, that preached iron discipline to the poor and the middle-class, but released the rich and powerful from all restrictions, and all responsibility for their actions.

    Reply
    Please complete the required fields.



  • Good post, malct, although people knew this the minute the bailout happened – it was the first question asked by the archbishop, by the man in the street text messaging his local radio show, by every internet blogger, by everyone. Which poses the real question – just how much evidence do the public need before they do anything?
    All this talk of ‘waking up’ is nonsense – i’ve said it before – whether people know the details or not, they see what is happening.
    The fact is that they feel powerless to do anything. A combination of materialistic and individualistic politics, the destruction of community and social cohesion and the fear mongering that have all been policy for the past few decades (and readily accepted by us in the form of ‘tough on crime’, ‘good for the economy’ etc. etc.) are the cause.

    Reply
    Please complete the required fields.



  • Think of what a trillion is. As Chris Martensen points out, a 4-inch stack of 1,000-dollar bills = $1 million. A 68-mile-high stack = $1 trillion

    Reply
    Please complete the required fields.



  • Aahhhhhhh! Bliss…… As one said on hear many many times GOVERNMENT INTERVENTION. why would nobody listen? i wil tell you why nievety….

    Huge amount of money being pumped into the system, drastic interest rate cuts on thier way, huge demand for rental property etc etc

    24-36 months time high inflation (debt erroding) which will be hidden by governments (as it is today). = Higher Rents and Property prices.

    My advice buy in january next year.

    The governments will ensure capitalism prevails to level not imagined by anyone on this site….

    IMHO
    GREENBAY

    Reply
    Please complete the required fields.



  • Elites don’t control populations by making them happy and contented; they do it by stimulating need and fear.

    Take wages. For most of us, we’re paid just enough to cover our basic necessities – with maybe just a bit left over for those little luxuries in life (a DVD player, a Ryanair flight) to make us feel/believe it’s all worthwhile. But never enough to create a situation where we might get up one morning and think: ‘Hey! I’ve actually got enough money to take a couple of months off work, and do something I really want to do with my life’. The idea is to keep us coming back, on a regular basis, with the promise of a chance to stick our noses in the trough – and of course, the ever-present threat to our livelihoods if we should step out of line.

    Reply
    Please complete the required fields.



  • somehow I don’t think this is the answer either – could be wrong!

    Respect’s national conference is taking place this Saturday 25 October, 11 – 4, at the Bishopsgate Institute, London.

    The main focus of Conference will be on building Respect as a campaigning and democratic left-wing organisation that can respond to the looming economic crisis and recession, and one that can play a major part in building an electoral alternative to New Labour.

    Opening the conference will be George Galloway MP, who will be joined by writer and comedian Mark Steel and Ken Loach, internationally acclaimed film director. The morning session will focus on responding to the economic crisis and will also hear from guest speaker Rob Griffiths of the Communist Party of Britain.
    http://www.spiderednews.com/index.htm

    Reply
    Please complete the required fields.



  • Read this earlier in full and have to agree with shipbuilder’s comment. Whoever is asked in the realm of joe public is aware,simplistically or even intuitively and in some cases deeply depending upon their education. (Not necessarily school of course)
    No harm in reminding folk though.
    Doing something about it is another matter.
    The powerlessness is all part of the position in this formulated society we hold. We are now at a stage where it has to be powerful and influential individuals who carry the banner and seek justice from within.
    A peasant uprising will only result in a lot of peasant deaths. The lessons of rebellion have been learnt and only applies to backward nations which are no threat at all.In our ‘advanced’ nations ‘rebels’ will easily be disposed of.
    This injustice will now have to be taken on from ‘inside’ by those (if they exist) with a sense of decency and conscience, but no matter what the outcome Control whether good or bad is be an essential part of mankind’s culture.

    Reply
    Please complete the required fields.



  • how about this :-

    Welcome to the Money Reform website
    If you have ever wondered why the world is in the state it is in; why the environment is being destroyed, why the first world has so much and yet is in debt, the third world has so little and is also in debt. Then this site is for you.

    http://www.moneyreformparty.org.uk/index.php

    Reply
    Please complete the required fields.



  • plato, I’m inclined to agree, but would you call that Greek philosophy or Geek philosophy?

    There can be no doubt that this site is monitored, can’t we at least try to confuse them?

    Reply
    Please complete the required fields.



  • malct:
    Monitored by whom?

    Reply
    Please complete the required fields.



  • malct……[email protected] 13:52………

    No one is that simple whether by accident or design……….. better to appeal to the decency of the truly influential through the knowledge we display. Speculative but in line with how everything works in our modern world, especially economics.

    Reply
    Please complete the required fields.



  • Not difficult to work out, that the whole thing is a bit of a scam. Just count yourself as lucky that you weren’t born in one of the so called Third World Countries, compared to them we have got a pretty good deal.

    My 9 year old son started asked me why the Dollars he got as a birthday present from his Aunt in the US were worth less than Pounds then asked me why some country’s money is worth less than others, then why some countries are poor and others are rich. In the end i had to admit that it was all set up a long time ago (something to do with the British Empire and all that) and it is no accident that things are the way they are. Also that we should count ourselves lucky for being born in one of the richer countries on the planet.

    He thought in silence for a while then after the penny dropped we carried on playing football in the park.

    Reply
    Please complete the required fields.



  • “When we remember that mortgages provide the country with around 60% of its money supply, it seems reasonable to assume that any loosening of the criteria for borrowing served a definite political and economic objective”

    “As long as governments rely on systemic debt to put money into the economy, it is in their interests to keep mortgage lending high”

    Reply
    Please complete the required fields.



  • Lovely story andrew, you son is a lucky chap, but if you think everyone else in the country is as confortable as you and yours – and therefore should be grateful, you are leading a very sheltered life. Rose tinted specs just wouldn’t do the job.

    Reply
    Please complete the required fields.



  • The main point is that we all know the whole system is not fair, but as mentioned by ShipBuilder, there is very little we can do about it.

    Reply
    Please complete the required fields.



  • 14. andrew said…
    The main point is that we all know the whole system is not fair, but as mentioned by ShipBuilder, there is very little we can do about it.

    Thursday, October 23, 2008 04:30PM

    ,,,,,,,,,,,,,,,,,,,,,,,,,

    BO££OCKS

    Reply
    Please complete the required fields.



  • Firstly; I agree that there is a ‘system’ out there that preserves the status-quo (ie favours the rich)

    But I have to disagree with you on the concept of ‘Money’.

    The money was not always there. And still isn’t.

    If the government were to take the money and spend it on geniune improvements the price of improvements would grow more expensive. Its because money can be thought of as buying power and therefore represents demand. Because of the depression, money has dissappeared so demand has fallen off. This hurts the supply side as those guys lose money.

    So the recent money release is more about maintaining the balance between supply and demand whereas actually improving services would actually alter the system.

    I’m not saying that the system shouldn’t be altered, but I am saying that printing more money or having the government spend like crazy is not the solution to all of our ills. Politicians can’t solve anything by just creating a budget. What we need is a change in laws and governance that emphases actual results rather than balance sheet results.

    A land tax is a good example. Health care and education reform. (Perhaps the trick here is not to introduce yet another reform???)

    My point is this; If you take a million bucks and give it to a third world country as charity, the money would not help, it would just send prices sky high in that country. What a third world country really needs is everyone profitably engaging in the economy.

    We could use the same.

    Reply
    Please complete the required fields.



  • The money has never been there except when the printing press will be activated.

    Reply
    Please complete the required fields.



  • malct………….

    I’m guessing you have power and influence or you’ll end up passwordless for a while.
    Btw I have it on good authority today that : Ones House is worth less. Ones Savings are worth less. Ones Pension is worth less. Ones……. In fact Ones everything is worth less……….. With one Exception :- Ones Debt is worth more.
    Now how do I get into this debt game?

    Reply
    Please complete the required fields.



  • 14. andrew said…

    “The main point is that we all know the whole system is not fair, but as mentioned by ShipBuilder, there is very little we can do about it.”

    Ah, no, I didn’t quite say that – I said people FEEL powerless – it’s a state of mind that our culture puts us in. We need to break out of that state of mind.

    Reply
    Please complete the required fields.



  • There is a fantastic debate in the comments below this article as well, worth reading.

    Reply
    Please complete the required fields.



  • shipbuilder……..

    and even at this level of conversation the totally innocent but cultured mindset appreciated but mis-quoted you. What a huge task this ‘change’ creates.

    Reply
    Please complete the required fields.



  • Great article malct, great links too.

    Shipbuilder @ 2 “just how much evidence do the public need before they do anything?”

    It sometimes seems as if we’re being slapped round the face by it….

    malct, who are you working for? lol

    Reply
    Please complete the required fields.



  • malct is really a govt agent I think. Trust no one.

    Reply
    Please complete the required fields.



  • Chilli – I don’t think the article should be taken literally as a call to spend endlessly. The point is the comparison of the priorities of government, who are meant to serve us, the public, rather than the rich few.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>