We have for a long time taken the view that the western world is promoting the most immoral economic system since the feudal system. The only difference now is that we still have principles underpinning our freedoms which were brought into existence by capitalism, such as choice and consent. We believe in the absence of proper capitalism, these are now under threat.
A disappointing obsession with making money by “free-marketeers” has undermined the western working class. Exporting jobs to China, for example, or uncontrolled inward migration to do low skill work. It has turned our western working class into first, second and third generation unemployed and once again defined them by fixed social position and their gender as in the days before industry proletarianised them into a class. The term underclass is applied unfairly to these people, victims of a broken system. Only welfare keeps body and soul together but it is heavily gendered with having babies an attractive lifestyle choice thus limiting girls economic opportunities.
At the same time as work is going elsewhere, there is migration from areas unfamiliar with capitalism’s principles and thus hostile to gay and women’s rights and with a pre-industrial, irrational propensity to rage. Large groups enter Europe from North Africa and challenge the rights of western working and middle-class people who whilst in employment are being systematically pauperised (but that is an issue for another post).
It’s as though the political elite are giving with one hand and undermining with the other. This system of creating and then managing the effects of all this migration and economic change requires massive budget deficits by government and ratcheting debt but its bi-product is that it keeps the ex-workers out of the economy, creates division (note division not violence) on the streets and via gov’t debt allows the whole financial ballyhoo to run for another decade or two. Top jobs and Gov’t contracts funded from taxation with the odd taxpayer-funded bailout in the middle.
Being junkies for money and with no “capital” to trade the financial elite have to find a ready source of wealth from somewhere. Where can such sums come from? Well, politicians running bankrupt states and with taxpayers on hand to pick up the bill.
The issues that no one is prepared to confront is that the global economy is simply being ‘gamed’ to keep our kleptocrats in a style of living to which they have become accustomed, we don’t matter. The system needs to change!
So until it changes our governments will QE, borrow and spend and run ever-increasing budget deficits. All this money slops one way or another into the global economy and makes the financial elite rich, and we all believe it has to be this way.
The solution is complex…..but who is prepared to start the conversation. As in all revolutionary periods, the State is undermining the nation, and the EU its nations.