Debt.

         While we struggle with the cost of capitalist greed, re-named, "cost of living crisis" have trouble paying bills, getting sufficient decent food to the table and can't afford to cook some of the food we buy, our lords and masters tasked, by default, with looking after our welfare, keep telling us to hold our nerve and other hypocritical platitudes, there's pie in the sky- - - - SOON! Our government can still find millions to prolong the war in Ukraine by supporting a dictator. Yes Zelensky with his motley crew is a dictator. There will be no Presidential elections until the end of the war, he has banned opposition political parties, arrested political opponents, banned all unfriendly media, and he shut down Orthodox churches, so what else can you call him.
       It seems that this is standard behaviour for the capitalist system, whether it is at home or abroad. Here at home our poverty is created and managed by the political ballerinas who follow the dictate of the higher echelons of the capitalist system, IMF (International Mankind Fuckers), World Bank (Wayward Bandits) and others of that ilk, we have no say in that, a dictatorship?.

Image courtesy of Bangladesh Info

 

 

       According to the latest research by the National Institute of Economic and Social Research (NIESR). UK households are about to be savaged by yet another capitalist manoeuvre as a result of the Bank Rate rising to 5 per cent, by the end of 2023 more than a million households (4 per cent of all UK households) will run out of savings because of higher mortgage repayments, taking the total proportion of insolvent households to nearly 30 per cent (around 7.8 million), 

        The IMF does not only tie Western countries to its debt ridden policies, It traps any developing country in its debt web and demands control of how that country will manage its affairs, never to the advantage of the recipient country. 

         In the early months of the pandemic in 2020, the IMF offered to open up new windows for borrowing that they said would come without conditionalities. The G20 Debt Service Suspension Initiative and other such offers to pause debt payments suggested that the poorer nations would receive assistance to prevent total economic collapse and to gain access to vaccines. However, Oxfam found that thirteen of the fifteen IMF loan programmes during the second year of the pandemic (2021) required ‘new austerity measures such as taxes on food and fuel or spending cuts that could put vital public services at risk’. The Commitment to Reducing Inequality Index reveals that fourteen out of the sixteen countries in West Africa planned to cut their budgets by a total of $26.8 billion in 2021 to contain haemorrhaging national debt crises and that these policies have been encouraged by the IMF’s COVID-19 loans.
The evidence is clear: the IMF not only engineers austerity-driven debt crises, but its policies are designed to ensure and manage a permanent debt crisis, not to erase debt.

Image courtesy of Gauri Lankesh news

 

          Does it have to be this way, are we so dumb we can't think of a fairer system on which to build our society. Are we condemned to give our children and grandchildren an ever increasing debt laden country and an ever decreasing standard of living? That's what the present capitalist economics of insanity are constructing for our future generations. Only us the ordinary people can change this, don't expect those who gain so many privileges so much wealth and power from the present insanity to ever dream of changing to a fairer system.

 

Visit ann arky at https://spiritofrevolt.info  

Out Of The Mouths Of Babes.

Out of the mouths of babes!!

Visit ann arky's home at www.radicalglasgow.me.uk

AMERICA,LAND OF THE FREE, PLENTY AND OPPORTUNITY!!!

        America, the most developed capitalist country in the world, land of the free, opportunity and plenty?? Well the figures on the ground don't paint that picture.

      Land of the free-- According to a recent study America has more than 2.3 million people behind bars, and leads the world in both the number and percentage of residents it incarcerates, leaving far-more-populous China a distant second. This is costing state governments $50 billion a year plus a further cost to the federal government of $5 billion each year. These figures are on the rise year by year.

        Land of Opportunity---Unemployment in America is running at 13.9 million, approximately 9% of the population. According to recent figures, 49.1 million, approximately 16%, are classified as poor. The figure for 2010 for those who have accessed emergency food programs more than twice  was 5.6 million, 4.8% of all households. Approximately 50% of American workers have an annual income of less than $25,000.

         Land of Plenty---The figures for 2010, classified the number of households in food insecurity as 48.8 million, approximately 17.2% of the population. In household with children the figure was higher, 20.2%. According to government figures more than 16 million low income families paid more for rent and utilities than the federal government said was affordable. Another very disturbing figure for a so called civilised country, more than 46 million Americans have no form of health insurance.

          From a report by “World Hunger Education Service” "There are, we believe, three main causes of poverty in the United States: poverty in the world; the operation of the political and economic system in the United States which has tended to keep people from poor families poor, and actual physical mental and behavioural issues among some people who are poor."

         America is also seen as the consumer capital of the world, but even that doesn't hold water. Recent figures show that 40% of all consumer spending in America is done by the 5% richest section of the population.

        America, the richest country in the world, has a a government debt of $10.5 trillion, spends 4.7% of its GDP on defence, twice that of China, and in spite of that massive debt managed to pour over $1 trillion of borrowed money on its adventures in Iraq and Afghanistan.

         "Three years after the onset of the financial and economic crisis, hunger remains high in the United States. The financial and economic crisis that erupted in 2008 caused a dramatic increase in hunger in the United States. This high level of hunger continues in 2010, according to the latest government report (with the most recent statistics) released in September 2011 (Coleman-Jensen 2011)."

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WHOSE DEBT IS IT ANYWAY???  

  

   This world is built on debt, every country is more or less obliged to borrow, then when their debt is too big for them to handle they sell their debt. Then the countries that buy the debt have too much debt they sell the debt, eventually every country is carrying too much debt and they scurry around for somebody else to buy their debt, but nobody can, well except the Joe public, the tax payer. so they, have to pay for the debt with "austerity cuts", translated that means slashing their standard of living, throwing millions on the dole destroying all social services and selling off all public assets, so that the insane mery-go-round can start up again and the banks and bond markets don't lose their greed gotten gains.

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