We are not in this together

Have you noticed that when National Debts get out of hand, the IMF arrives like the Inquisition, to ‘inspect’ and ‘assess’ and then with terrible ceremony and dread, pronounce anathema upon the sinner? When Banks, on the other hand, drag the entire world into misery – no one arrives other than government officials bearing sacks of money to bail them out.

When a nation is found to have lied about its debts the IMF calls down curses on them and demands they all have their wages and pensions striped from them before they are scourged in public. When banks lie about their debts (think AIG or Lehman) we don’t even get to hear about it for two years and when we do, it is in the restrained and almost sympatheitcally understanding tones of by-gones and lessons learnt.

We are NOT all in this together. We, ordinary people, are fighting each day for just one more breath, while they, the financial class, are leaning on the balcony railings above, watching us.

The IMF has just pronounced upon Spain. The Spanish labour market, it said in its report, is “dysfunctional”. Spain must reduce any ability for people to bargain collecitvely, must encouarge shorter term contracts over long term ones and it should be made easier to fire people.

Pensions need to be lowered and retiremnt age raised. Cuts in government spending – austerity measures – need to be made quickly and made more aggressive (front loading is their new euphamism).

Basically for Spain, read Greece, but in a slightly less shrill tone of voice.

In the world accoring to bankers, their friends at the IMF and their wet mouthed, media organizations – labour markets can be ‘dysfunctional’. Banks are merely ‘troubled’ – poor things. Try reversing it. Dysfunctional banks and labour markets that are troubled. You can see why the main stream media would never print such a description. If you are troubled, someone is troubling you and ought to be stopped. If you’re dysfunctional you need to be detained, restrained, releived of your liberty.

Wages and pensions must be cut, soon and hard. It’s only prudent! Funny that bank losses and bad debts don’t need to be cut at all. Not now, not soon, maybe not ever.

In the same report that the IMF thunders about the government having to cut spending on pensions and wages – the IMF is equally firm in its advice that the government must be ready to intervene in banking if it looks to be in trouble. Do you think they meant get in there and cut them off? I think they problably meant get in there with bail out money. By all means close a few tidlers but don’t harm our friends the big banks.

People must accept lower wages. Bankers on the other hand must get larger bonuses. People must be fired. Bankers, however, must not upset with talk of regulations lest they all leave.

There must be greater and deeper austerity for people. For banks, according to TIm Geithner speaking in Europe to day, regulations must be “not so radical”, there must be a “more conservative regulatory regime”. Purging for the people. Soft oils and baths for the wealthy.

Nations absolutely must cut their spending on the welfare state. But for bank debt the ECB MUST BUY MORE. Experts, this week advised in confident and authoritative tones WILL HAVE TO BUY between 300 and 600 billion Euros in bad bank debt.
Not asking. Telling!

Lets reverse Banks must CUT their bad debts – by lets say 300 to 600 billion. The public should have that 300 – 600 billion invested in it.

Sudenly all ‘prudence’ is lost and right thinking bankers are aghast at the stupidity of the mob. Where are the police? Or better yet the soothing, calming, stupifying media with their aimlessly moving lights and gently stiring, reassuring music?

Wake up!

2 thoughts on “We are not in this together”

  1. spot spot on. This is what irks me the most. Such contradiction. Blatent too. Yet this imagery isnt being pushed in the mainstream. This sense of unfairness is what needs to feed into everyday thinking. The public need to see how they are being dispossessed of their wealth and rights today and into the future.

    Im glad youve got the capacity to synthesize the issues.

    I continue to suggest your pieces to others i know.

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