Wednesday 3 July 2013

In one picture: what the banks have done to us since the 1980s

Another corker from independent thinker Charles Hugh Smith today. The graph above shows how the "boom" of the Eighties was a phoney, as were the "recoveries" from the lows of 2003 and 2009. (The latter Nineties I see as partly "real" because of efficiencies and consumer demand created by dramatically increasing computer power and the international and cross-class spread of electronic communication systems.)
To me, this demonstrates that it's not a Left versus Right thing; it's about the unholy alliance of bankers and politicians who trade wealth and political power among themselves. In the UK, the British Conservative Party is just as much to blame as the supposed socialists (who oversaw a further deterioration in manufacturing and working-class employment).
The question is, can we have preventive reform soon or must we wait for full-scale disaster to force it?

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