Anyone with commonsense has been aware for a long time that the present model of super-capitalism is approaching its end. Already propped up by inflated house prices and kept alive by encouraging people to live on credit, it now gets worse.
In the UK the bank, Northern Rock, is being bailed out with up to £60 billion of tax payer’s money, and failed pension funds have gone the same way. Hence, we are now being stuffed from all directions.
The first point that should be remembered is that everything in capitalism involves a risk. You risk your money to make a profit. When it fails, tough luck. But it seems the new consumer never understood this. And now, it seems, neither does NuLabour.
As for the contempt they have for OUR money; that is no surprise at all.
© Anthony North, December 2007
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