Tuesday, February 2, 2010

Bankers think system favours the super rich

BoE hurts middle classes

The new Marx. "Property is the opium of the people". Classic

Posted by chrisch @ 10:56 AM (1220 views)
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9 thoughts on “Bankers think system favours the super rich

  • A brilliant article and a major statement of the case that Homeownerism is a stunt to divert the masses by giving them house price rises while robbing them of well-paid jobs.Bird lives!

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  • BoE hurts middle classes.

    Marx my word! The seemingly double standard for now. The landslide is coming. Social nanny housing anyone?

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  • I agree with much of this, although I am not prepared to confirm the precise direction of the finger of blame so firmly: a central banking system is inherently unfair, and the choices made by this controlling administration will unavoidably end up favouring some class of capitalist agents over others (be it home owners, the super rich, land owning corporations, insurance companies, lenders, etc) I don’t even begin to doubt the tendency to be towards those agents who already have a relatively large proportion of power in their hands, as kickbacks are natural persuaders. The way out is to free up this controlled market, to distribute the power; I believe it would solve much more than the obvious.

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  • While Edwards does optimistically point out that the low levels of social cohesion in Britain should prevent a Marxian revolution (phew) ……

    I am always amazed at how working class people attack strikers today as greedy, take BA – they should be happy earning 20k compared to what you get paid at ryanair – 20k is nothing for a full time job – we attack our won whilst the rich pi55 in our face.

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  • 4. matt_the_hat

    If you only knew what the persuasions of Obama and a great many of the EU members were. More homework, less guesswork.

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  • 6s, hear, hear. To believe otherwise is to deny the existence of bias, by whatever cause. With a concentration of power, a little bias goes a long way.

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  • It seems more sleight of hand than conspiracy: inequality has sneaked up almost unnoticed. We live in a fairly reactionary country; hence the lack of protest, workers complaining about strikers and the lack of protests on the street.

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  • I said that twice.

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  • It’s true that wages at the top have risen far more than wages at the bottom.

    HOWEVER, Albert Edwards is wrong to state:
    “this scenario [is] a recipe for wage growth”

    Wage growth? What wage growth? Everywhere we look, wages are static or falling. There is no driver for wage growth. If you go on strike, your company either goes bust or ships operations to a cheaper country.

    Personally I blame politicians. They’re the ones with the power to change things.

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