Tuesday, March 31, 2009

A New System Needed

World Financial Problems

Credit Crunch, Recession, Depression, Printing more money. Are we seeing the end of the capitalist system as we know it?

We have had the years of ‘New’ Labour trying to make capitalism work with a softer and more humane edge to be fair to all after the years of the extremes of right wing government. New Labour achieving a great deal but inevitably failing to fix all without a radical change in direction.

All of today’s financial troubles we are facing in the UK can be traced back to the Thatcher CONservative government’s sale of publicly own utilities, sale of the railways, the sale of public housing. The deregulisation of banking and financial institutions, allowing ‘Dog eat Dog’ to form the giants we have today being milked by the system and directors and allowed to crumble.

The playing with stocks and shares is no more than the working man going to the betting shop and putting a ‘Fiver’ on a horse and trying to make a pound or two; as they try and sell shares at a high price and buy them cheap, to maximise their own profits, we all suffer.

‘There is no such thing as society’ said the Thatcher CONservative government handing everybody a few hundred pounds to give away our assets to capitalist giants and sold to foreign firms. Remember ‘listen Sid’? The only people CONd were the British Public.

We have had 100 years, or more, of our right wing media and press making the word Socialism as bad a word like the familiar four letter Anglo Saxon swear words we all know. A better system is now needed combining the best of both systems.

It is very significant that the Co-operative Bank and Nationwide Building Society (the two largest mutual organisations in Britain) are as sound as ever and do not require any assistance from the government?

Is this not a classic example of Socialism working on behalf of the members and not for Directors and Shareholders? And that they have survived the onslaughts of the capitalist doctrine over the years.

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