The 21st Century should also be known as the "Through the Looking Glass Century" shouldn't it? I say this simply because I've just seen a picture in todays Independent (not online) that shows protesters in America not happy with the bailout of banks.
The thing is, these are no0t rabid market fundamentalist right wingers protesting, these are people from the Inetrnational Action Center, who, if you have a cursory glance at their website appear are a grassroots coalition "to oppose U.S. wars abroad while fighting against racism and economic exploitation of workers here at home". Pretty clear from that these are basically Stop the War type trots right?
Yet, here we have them opposing the US bank bailouts, alongside the market fundamentalist. The IAC of course says "bailout people not banks". But isn't it a bit weird to have right wingers opposing the bailout because it is affront to free market capitalism, whilst the hard Left oppose the Government taking a stake of capitalism into their ownership?
Confused by the 21st Century? I fear you and the undergraduates of the future will be too. Wars against brutal dictatorships where the opposition are those who claim to care about human rights, and now we have trotskyite lefties opposing the Government taking ownership of huge capitalist monsters that are driven by, what they would say, the exploitation of workers.
Marx woulod be turning his grave surely?
2 comments:
I think the whole system has become a bit twisted!
Can those who are protesting really understand what they are protesting about?
I like to TRY & keep track of what’s going on in the financial sector, I’m no expert, just a grunt, but by watching various financial programmes & the interviews they do I have been able to more than keep up with what’s going on & going to happen, most of it just seems to just follow a logical progression & is very predictable for those in the know to follow.
Anyhow!
Here’s a grunts eye view of what I have understood from this weekends viewing.
It seems there is a belief that some in Congress are only pretending to want this package to work & would rather see it fail for political reasons! Shock horror!
The republicans want 110 democrats to vote for the package so that both sides will be seen to have made the wrong decision if the package fails!
So!
As we can see from the off, this package is NO silver bullet!
The main thing that Congress is really trying to sure up is people’s confidence, but when there is DEEP mistrust between banks at the moment (which don’t forget pushes up the price of loans to you & me, just for a start!) & politicians are hardly known to be the most trust worthy in society, you can understand people’s confidence being at an all time low. Add to this we are now entering a market that is going to be quite an unknown in itself, which is one of the things that got us into this mess in the first place, dealing in unknowns, & it’s a case of, all aboard the train, destination unknown!!
Oh yes! There’s lots of regulation to help keep things on track, you know regulation! That thing they did when Enron went pear shaped!!!!
Blimey! Even trying to explain what the politicians are up to is confusing enough, Anyhow!
Here’s what seems to be going on in the money markets mind from what I can tell & the influence it could have over the next week.
Firstly, I have heard some saying that the problem isn’t really with the banks but with housing, if they sure up the housing first then the banks will follow.
There are more names of certain banks now circulating which could go under or be taken over, those who thought that buyers from over seas may buy into them & sure them up may have to think again!
The Credit crunch is causing tremors all around the world. Money markets are getting jitters waiting for the package, investors are in a wait & see mode, they know only to well this package is going to make winners & losers, as no one knows who that will be speculation seems to be as bad as ever.
One of the few businesses that are seeing good times is the corporate reconstruction industry, that’s very busy!
So! What to do!
What can we do?
We now know we should have made sure more investment went into our infrastructure, in securing our energy & how to save it, making our island a more self sufficient place & creating our own jobs with goods we have made for ourselves.
I strongly believe Britain has to look at how NOONE out there can really help us, except ourselves!
That means if we are on our own, at the end of the day, we should BE ON OUR OWN!! Because we can!
Brits have a great pull together sprit when needed & I think were going to need it!
We now have to become a nation of savers & recyclers who if needs must will eat cheap cuts of meat & take what ever job comes along because that’s just how it is.
I think one other place that is fleecing money & is about time it is seriously looked at is the EU, if we can get rid of this drain on our resources then all the better, surely?
This American package is going to take time to filter in to the system, it seems it is going to be more of a drip feed affect with the first 250 billion soon to be released, how much of an affect this will have on Britain if the package works remains to be seen.
The EU doesn’t seem to think the package will help us much! I don’t think the EU can help Britain much!
Nope! Were on our people!
Time for Britain & its people to look after Britain & its people to make sure WE survive!
Hold on tight for a bumpy ride!
Marx WOULD be turning in his grave if that selfish, freeloading, maid-inseminating wastrel had ever given a damn about anyone's welfare but his own.
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