Ineptocracy - the cause of the deficit?

Ineptocracy - (in-ep-toc'-ra-cy) -
'A system of Government where the least capable to lead are elected by the least capable of producing, and where members of society least likely to sustain themselves or succeed, are rewarded with goods or services paid for by the confiscated wealth of a diminishing number of producers'.

The above definition of Ineptocacy could easily be read in two ways ... a dig at the poor and/or least able ... or a dig at the ultra-rich who misuse power and add no value, but gain wealth from ponzi ('money for nothing') schemes (eg counterfeiting money/gambling) and/or from the backs of hard working people who are actually adding all the value (but paying most of it back in tax - e.g. income tax, national insurance and 20% VAT) ... whilst the ultra-rich accumulate more wealth, more tax cuts and pay accountants to find any possible avoidance scheme so they can avoid paying any tax at all! **

The biggest problem by far is in fact the latter ... tax needs to be applied to non-productive ways of generating wealth (gambling, land, housing) as a matter of urgency ... and income tax for those adding real value reduced ... these actions together would both remove the black hole in the countries finances and reward producers who add real value!

Can this be done? ... of course e.g. by introducing a land value tax! ... However, those currently in power would never allow this to happen as it is not in their interests to do so ... as they want to be able to continue to make money from nothing ... and off of the backs of others ... and will fight tooth and nail to be able to continue to do so!   

Ignorance is not bliss ... and Poweromics is evil.

** We've started flushing out companies avoiding tax (e.g. Starbucks), but we need to expose all the individuals involved in this practice too ... starting with those with their grip on Power!

Legalized counterfeiting ... followed by legalized theft!

Hundreds of thousands of public sector workers have gone on strike today out of frustration ... over theft (in broad daylight) of their future livelihoods!

The Government have already forced staff, without consultation, to pay 3% more into their pension, and they are now looking to pay them much less in retirement* and make them work a lot longer for it too. 

The Government says pension schemes are still unaffordable, but current public pension schemes in the UK are nowhere near the levels of places such as Germany ... whose economy is doing very well indeed! Many of the pension schemes are not in deficit either ... and have arrangements already in place for contributions to rise in line with any shortfall anyway! 

It is clear that public sector workers are being forced to pay more, not because of any pension scheme deficit, but because the Government wants to raid pensions again and take money off hard-working public sector workers in order to pay for the cost of bailing out the banks (and going by the public response ... e.g. on Question Time ... the public are becoming increasingly aware of the scam).

To try to get away with their scam, the Government are trying (but failing) to pitch private sector against public sector ... Following legalized raids by the Government on the pensions of poorly-paid private sector workers, they are arguing that public sector workers should get minimal pensions too ... i.e. rather than putting an initial wrong right ... they want public sector workers to be equally badly treated ... as the rich continue to get lucrative pension deals, with tax loopholes/havens and enjoy £37bn in tax relief on their lucrative pensions! 

It is incredulous (and immoral) that the laws of this country allow legalized theft ... where a politician can impose such measures without a mandate and without consultation ... and allow legalized counterfeiting by bankers** (creating money out of thin air, and charge it out at interest) ... and have politicians force hard-working people to pay for their hefty bonuses (for gambling, rather than lending money to small businesses keen to create real value/wealth) and then the cost of bailing them out (when their gambles fail).

The law is clearly in place to protect bankers and the wealthy ... to keep them wealthy ... and to ensure they can continue to increase their wealth ... at the expense of everyone else. And where this does not happen ... the Politicians are lobbied/forced by them to change the law so they do! 

The idea that the rule of law applies equally to everyone, in order to safeguard democracy, is clearly a scam too ... but people are starting to realise this ... and the impact of this ... 

For instance ask yourself the followinq ...

1.  If you printed money in your garden shed ... you'd be locked up ... and

2. If you stole money from people ... you'd be locked up too. 

So why are bankers and politicians getting away with these things every minute ... of every single day!

Given this how much longer will people allow them to get away with this ... judging by the growing number of hard-working people starting to make their voice heard ... not much longer!

And let's see how quickly the Government change the law ... to stop the most basic form of democracy ... the right to withdraw ones labour *** 

* The Government have also already, without consultation, changed their pension schemes so any future increases are in line with the lower rate of inflation too (CPI instead of RPI), and they are now looking to change them to career average schemes too.

** Purely because the law of counterfeit doesn't apply when money "resides" as figures on a computer screen, and no longer relies upon a printing press!

*** The Government have already threatened this, and the Labour party, whose leader Ed Miliband recently told his party that they needed to once again represent hard-working people, have failed at the first hurdle! (which is not surprising really, given it was Gordon Brown's early £100bn raid on pension schemes that started their demise).

UK budget deficit soars ... and drastic action's needed

The UK recorded an all time high budget deficit of almost £90,000,000,000 in 2008/09, and with the deteriorating state of UK public finances, the Centre for Business and Economic Research (CEBR) today highlighted the need for a £100bn programme of cuts and tax rises to repair the UK's public finances and get the UK's budget deficit back down to £50bn by 2014/15.

US deficit rockets ... as investors ask lots of questions

As the US 2008-9 budget deficit races past $1,000,000,000,000 today, this BBC report, just like my earlier posts, starts to highlight the increasing concern of foreign investors (e.g. China & Japan) about the value of the dollar, as well as how safe their investments will be in the long run.