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Our principle economic problem is that the balance of power between capital and labour has tipped way too far in favour of the former. A large chunk of the inflationary spiral has been caused by out-and-out profiteering on the part of large corporations across all economic sectors.
Record profits, record corporate bonuses, high shareholder dividends, price fixing The FTSE top 350 have seen profits rise by 43% since the start of Covid. Meanwhile, more and more ordinary people sink further into debt, see the lowest living standards in real terms for many a decade, struggle to run a car, heat their houses, eat at all....
The UK has a profiteering crisis. And it isn't being reinvested that's for sure.
There no fool like an old fool, btw![]()
Agree completely Banjo. I have no problem with those who work harder, are brighter, have good ideas, or take a few risks getting a bigger slice of the cake. It's when they get an absolutely humungous slice that I have a problem. Surely a couple of billion pounds is a more than sufficient reward? The richest people in the world have in excess of 100 billion pounds, while the poorest people in the world starve to death. How can this still be happening, and how can the gap still be widening in this day and age? As you've already said the simple answer is GREED.
Oh well, after Boris we will have Liz Truss in charge of sorting out our corner of the world. As Soccerman might say "In Liz we trust"!!!
Nailed it Banjo 'Confucius Pie 😊
'In Truss we trust' has a bit of a ring to it.
There is a huge rift to heal. Is she the right one to do it? Not sure myself.
Her body language yesterday wasn't brilliant - where was the word / handshake with Sunak? Instead she couldn't wait to get up to give her automated speech.
Today she meets the Queen, after previously speaking up that the monarchy should be abolished.
I really hope she succeeds but do feel that she often says whatever is best for her own advancement, and is not averse to a u-turn when it suits.
She obviously sees herself as the new Margaret Thatcher, but even though I disagreed with Thatcher in many ways, she is nowhere near at the moment.