On the Other Hand
Oh, how the mighty have fallen.
It reminds me of those many uprisings throughout history when peasants and slaves reach their breaking point and rise up and overthrow the powerful few.
Since the neo-conservative movement (free trade, de-regulation, low taxes, globalization, cuts to social spending, privatization of government assets) started in Great Britain under Margaret
Thatcher, the rich have gotten very rich and the bulk of the citizens have not only gotten poorer, but see a indebted future for their children and grandchildren.
In the 1970s when neo-conservativism started to flex its power, the promises were great. Free trade, privatization and union breaking would bring wealth to all.
Unfortunately, the exact opposite has happened.
Today’s top one per cent own more than the rest of the world combined and in that one per cent, 62 men own as much as the bottom 50 per cent of the entire world population.
A lot of young people voted to stay in the European Union and I believe they sincerely think that leaving will negatively impact their future economic well-being.
In the short-term they are right. The powerful neo-conservatives running the World Bank, International Monetary Fund, banks, governments, multi-national corporations, stock markets and big media will push hard to create fear.
We’ve already seen the all-out press to scare Brits to call for another vote.
The integrated currency, bond, stock, commodity and real estate markets are controlled by the elites.
So the pound Sterling and the stock markets will get hammered for a while, but the need for profit taking by insiders and traders will see a reversal soon enough.
Then there is the notorious top rating agencies, Moody’s and Standard and Poor’s.
Since the Brexit vote they have been ripping apart the UK’s credit rating and promise ongoing downgrades. What arrogance!
These are the same two agencies that rated sub-prime junk bonds as AAA+ and became key players in triggering a world-wide recession in 2008.
Millions of innocent people lost their homes and jobs while the boys on Wall Street were being bailed out by the U.S. Treasury.
It shouldn’t come as a surprise that these agencies are not independent or publically-owned, they are solely in the control of the elitist.
For many young people in the UK, they don’t know a time when their elected politicians answered to the citizens of the UK. All they’ve known is a group of Eurocrats in Brussels call the shots and elected MPs in London just have the copout refrain, “we would like to help, but Brussels has decided”.
Unfortunately in the case of the Brexit vote in the UK and the chaotic election campaign underway in the U.S., the wrong people, specifically immigrants, have been targeted as the villains whereas the true culprits are the corporatists.
Our world does not have capitalism anymore, it has corporatism. Each time a free trade agreement is signed more power is transferred from elected officials to multi-national corporations. Each time there is privatization of public assets, vast amounts of wealth are transferred from the people to the Corporation. Each time there is a reduction in corporate and personal taxes, vast amounts of money are transferred out of an economy into tax-free havens for the elites.
For 30 years, the Corporatists and their political and media mouth pieces have been promising free trade and privatization will bring jobs and prosperity to all. Instead it’s been a rush to the bottom, delivering much to few and little to many.
Unfortunately for the one per cent of rich guys and their corporatist friends, Brexit proved that votes are still more equally distributed than income. And that will always be the Achilles heel for neo-Conservatives when trying to sell their empty promises to people living in democracies.