mannerisms

Ruminations on the electronics industry from David Manners, Senior Components Editor on Electronics Weekly.

Socialism For The Rich; Capitalism For The Poor

There’s a phrase going around that the times we live in practise ‘socialism for the rich and capitalism for the poor’.

The State bails out the rich but acquiesces in no pay or low-pay rises for the poor, pension-reduction for public sector workers, diminished employee rights and curtailment of public services.

 

The protection of the right of bankers to gamble with taxpayers’ money is the No.1 aim of Western governments’ economic policy.

 

The rich get richer, the poor get poorer. The richest American calls for higher taxes on the rich while the American worker has had no pay rise for a decade and half the US population is on welfare.

 

We have more social protection in Europe, but the American way is the way we’re going. Small wonder New York has seen ‘American Spring’ demos against the Wall Street elite.

 

The Greeks started this one – standing up for democracy against a financial and political elite which wants to impose a monetary straitjacket on them. Well, the Greeks brought us democracy once before.

 

The Western World faces a choice between a New Feudal System and a New Democracy.  

 

To the barricades, my friends.  

Tags: bails, barricades, economic policy, small wonder, western governments

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4 Comments

  1. Nol
    October 10, 2011 12:04

    “Socialize the loss, privatize the gain.”
    That sentence nails it. But wait a second, a variation of this quote has been utilized by corporations over many years: “do more for less”. These are not good times for the average people. Be rich, or else…

  2. David Manners
    October 10, 2011 09:19

    Well, martijn, the Greeks don’t look a gift horse in the mouth but when it turns round and kicks them in the ass they’re probably right to complain – after all the government has been behaving in ways close to financial fraud – selling off future revenue streams from airport landing charges, toll roads and EU subsidies to fund current spending. In doing this they’ve been assisted by Goldman Sachs. If the politicians and bankers have been mortgaging the future of the Greeks then the Greeks are right to demand the ousting of the politicians.

  3. martijn
    October 10, 2011 08:43

    Well where were the greeks that are complaining now, when their government was spending money it didn’t have? When education was free and veritually noone in Greece paid taxes, they didn’t complain. Bit petty to start complaining now?

  4. October 10, 2011 07:54

    David, I have respectfully disagreed with your views several times in the past, but this time, I will not bicker. Sound view, crisply put. Hats off.

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