Capitalism is eating democracy

Forget influencing Presidents and Prime Ministers, European billionaires are funding local elections in the Georgian capital, Tbilisi. When the wealth of oligarchs so dwarves that of the people, it is relatively easy to seize control of the entire political establishment, aggressively pursuing financial interests while keeping the population distracted by identity politics. Tbilisi is a perfect microcosm demonstrating the dangers of what unlimited, uncontrolled capital can do to democracy.

Money from misery: How shadowy bond investors perpetuate Puerto Rican poverty

More than 70% of US Municipal Bond holders are exposed to Puerto Rican debt, in excess of $1 billion. Operating in an environment with no oversight or regulation, this powerful group of private investors do not want any default on their bonds and expect a return of 100% or more. There is a dawning realisation within the White House that Puerto Rico cannot simply be abandoned like a failed Casino. Yet again, we see the way in which pure unregulated capitalism is creating unmitigated misery.

Fake abundance

The British economy is not ok. But you wouldn’t know it by looking around you. Luxury cars. Designer clothing. And banks chomping at the bit to lend people even more money. Ex-pat photographer and designer, Adrian Scoffham describes his return to the land of ‘fake abundance’.