Wednesday, 15 December 2010
A sign of things to come (2) ... ?
As Christmas draws closer and the New Year fast approaches are we starting to see the writing on the wall ... and sign of things to come ...?
Sterling devalued 25% (e.g. even against collapsing currencies like the dollar!), inflation running way above target (e.g. with petrol now heading towards £6/gallon!), interest rates set to go up, unemployment starting to increase again (before the real cuts start to bite), VAT set to rise to 20%, and the top civil servant (Sir Gus O'Donnell, Cabinet Secretary) quietly drawing up a "Plan B" for if/when the UK falls into recession again next year ...
Yet bankers (whose self interest/greed created this crisis) are celebrating and pocketing their Christmas 'bonuses', as a result of debt slavery (e.g. Fractional Reserve Banking) and corrupt profiteering/gambling using your money (where they take all the profit and you/taxpayers take all the losses) ... nb they are not focused on helping/investing in businesses, but continuing to speculate on the stock exchange, commodities, currencies and bonds instead ... forcing countries to the brink financially (e.g. Ireland) and pushing up food prices around the world so millions of people can no longer afford to eat (nb the same bankers also want to be able to speculate/trade in fresh water in the future too)!
Whilst the European Union is trying (and failing) to fiddle around with bankers pay (restricting bonuses will only elevate their basic pay), it has done nothing to stop Fractional Reserve Banking or Casino banks (investment banks) from speculating gambling using your/taxpayers money (commercial banks) ... much of this crisis was brought on by repealing the Glass-Steagall act (which was brought in after the last Great Depression) and nothing is being done to reverse this!
The banks have stolen the future from future generations, through high levels of tax needed to service (and eventually pay off) all the bailouts/debt, through the removal of EMA and the tripling of tuition fees, doubling of youth unemployment and further debt slavery as young people try to pay for a roof over their head (nb the bankers are aided and abetted here by a few very wealthy landowners who profit heavily from restricting the use of land ... instead of being taxed for the land they own)!
If we really want to get out of this mess, we need to i) stop the corrupt practices of banks, ii) invest in education, innovation, enterprise and business, and iii) introduce a Land Value Tax, to replace the current Property Tax and to reduce the tax on jobs (income tax/national insurance) ...
As the toxic mixture of ignorance and apathy continues to reduce ... Poweromics will be increasing exposed and challenged.