I keep mouthing off about the financial Mafia driving us back to the deprivation of the Victorian era in their attempt at creating a European sweatshop economy, well we are half way there. The figures from a newly published study from the High Pay Centre makes for some interesting reading. Its conclusions are that the UK has returned to the pay inequalities that have not been seen since the 1930's. While we, the ordinary people have seen our incomes shrivel, the top 1% have seen their share of the national income more than double since 1979, they now claim 14.5% of the national income. The national average wage in the UK sits at £20,500, while the 26,000 top earning parasites of this country receive more than that in a month after tax, taking home a tidy sum of at least £21,500 a month. Of course average earnings can be misleading, we have approximately 6.75 million people in the UK earning less than £800 a month. Think of the difference in your standard of living, £800 a month or £21,500 a month, how do you justify that disparity?
At least one rich retired business man doesn't seem to like this. The Independent on Sunday reported that a certain Sir Mike Darrington, retired CEO of Greggs, has written to the remuneration boards of all the FTSE 100 companies begging them to show restraint on executive pay, no this is not a joke. Strange that he should write this letter AFTER he retired and not before. However I wouldn't hold my breath on a positive response from his FTSE 100 colleagues.
Of course it is not just in Europe that this great divide is ever widening, in the US they have the same pattern, the rich get richer and the poor get poorer. In that land of the free and opportunity, for the year 2009, a mere 311 Americans shared between them a staggering $54 trillion, while 80% of the American population share just 7% of the national wealth. As for the bottom 40%, well they get by with barely any wealth at all. Ah well, that's capitalism for you.
If we want to change this, and what ordinary sane person wouldn't, we will have to take a very different approach from our Sir Mike Darrington, It is no use appealing to the charity of a bunch of greedy parasites, we have to get rid of them. Would the chickens ask the fox to help them?