Tomorrow!

      Artists paint pictures, so do poets and writers, but figures can also paint a picture. So let's take some figures and try to paint a picture of what lies ahead of us in the UK after covid19 .
         Bank of England unemployment predictions, 2019 3.8%, 2020 8.6% 2021 11.0%
Another prediction:
Unemployment could hit 15 per cent in UK hit by second coronaviruswave

Dark picture even before covid19:

       March 2020 An extra 1.5 million children will have been pitched into poverty by 2021 as a consequence of the government’s austerity programme, according to a study of the impact of tax and benefit policy by the Equality and Human Rights Commission.

      The EHRC study forecasts dramatic increases in poverty rates among children in lone parent and minority ethnic households, families with disabled children and households with three or more children. There are clear winners and losers from austerity tax and benefits changes since 2010, the study says. The regressive nature of the policies means that low-income families have been hit hardest: the poorest fifth will lose 10% of income by 2021, while the wealthiest fifth will see little or no change.

After covid19: 

COVID-19 Impact: 50 per cent of UK households believe they will struggle to meet their financial commitments over the next three months.
       In the first three weeks after the UK government introduced the ‘lockdown’, an estimated 7 million households (a quarter of all households in the UK) had lost either a substantial part or all of their earned income as a consequence of the COVID-19 crisis. The immediate consequences of the crisis for UK households are seen in the large numbers (28 per cent) who were experiencing financial difficulties. An estimated 3.1 million households were in serious financial difficulty and a further 4.8 million households were clearly struggling to make ends meet. Anxiety about money was widespread, with half of all householders saying that thinking about their financial situation made them anxious.
Key findings:

• 3.1 million households are in serious financial difficulty
• 4.8 million households are struggling to make ends meet
• 7 million have lost a significant part of their earnings
• 7.7 million households anticipate some fall in income in the next 3 months
• 10.4 million households are potentially exposed financially
  

On housing: 

• Of those in serious financial difficulty, 64% are renting
• 31% are home owners
  

      These are some of the findings from a national COVID-19 financial impact tracker published by Standard Life Foundation, which were analysed by the University of Bristol’s Emeritus Professor Elaine Kempson, and Christian Poppe at Oslo Metropolitan university.  
      Professor Kempson will be leading the series of monthly surveys, designed to track the ongoing impact of the COVID-19 crisis on household economies. The analysis and reporting is being undertaken by Bristol in collaboration with other researchers, including academics at Oslo Metropolitan University.You can download the full report here.

      Theeconomic fallout of the pandemic could leave 1.1 million more people below the pre-Covid poverty line at year end, including a further 200,000 children, according to analysis released today (Thursday) by the IPPR think tank.

      Well there's a picture of tomorrow, do you feel that it is as it should be, or do you accept that the capitalist system has failed, as usual, to see to the needs of the ordinary people? If so, what are we going to do about its failure? Reformed is impossible, remove is the only answer.

Visit ann arky's home at https://radicalglasgow.me.uk

WHERE DOES ALL THE MONEY GO?

        So not only do the banks create money out of thin air, they steal your labour and then they still need a bailout?? where is all the money going? 

        This from Inquiring Minds:

The grand mortgage contract deception

         It was exposed in a recent ‘Independent’ article that 97% of, so-called ‘money’ is created ‘out of thin air’ with digits on your account, by the high street banks. The other 3% is mainly banknotes, which are loaned by the Bank of England to the high street banks at a small interest rate –point 5% at the moment. With this in mind I give the example below.

            Let’s look at a mortgage contract: before you signed a contract, allowing the bank to steal the principal sum of 200K plus, maybe 300K interest, from you and the working community collectively, they offered you a contract to sign for worthless digits. Upon signature you became the conduit for them to steal yours and the working community’s labour because all of us have to work to give the bank, not repay, the principal sum.

         The fraud is not just charging interest on the principal sum—it’s stealing the principal sum as well.

          Did they have the 200K at the time you signed the contract? No, they did not. So it comes from you and the working community when you pay it.

Am I right? If I am they are not just stealing interest, they are stealing the principal sum as well; a total of 500K.

Read the full article HERE:

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