The principal objective of the UK tax system, in which the poor pay a higher proportion of tax than the rich, is not to improve the collective well-being of society, but to funnel cash – largely through tax cuts – to the corporate elite. This isn’t free-market capitalism in the formal sense, but socialism for the rich – a form of state capitalism – no different in principle to the old statist economies of the former Soviet Union.
We can only wonder if Madrid is under the delusion that simply taking over Catalonia’s government and having elections is their silver bullet solution. It is too dogmatic to understand that it is creating political martyrs for the independence movement to be inspired by.
It may only have been a fraction of a percent but make no mistake, last week’s interest rate increase was a big deal. It signalled the Bank of England has given up on reviving the economy, having already inflated the assets of the already rich through its dangerous game of monetary policy. Bank and Treasury economists (aided and abetted by the OBR) are guilty of defeatism. They argue that despite their powers, there is nothing to be done.
Dear Catalans, You are not allowed to secede from Spain. The EU ‘owns’ Spain, and Spain ‘owns’ you. Catalonia is a wholly owned subsidiary of Spain. Spain is a subsidiary of the EU. And the EU is non-negotiable. Vast amounts of capital went into this project; if it fails it will bring down the global banking system.
Throw a dart at the map of the world and chances are it will land in or near a territory in which the US and its allies have ‘promoted democracy’, made a ‘humanitarian intervention’, and/or ‘defended western values’, leaving behind the stench of JP Morgan, Standard Oil, Halliburton, and the Cheney and Clinton dynasties. The concept of ‘left and right’ is a sideshow for the plebs – MarkGB examines how war has become a reliable profit centre for government cronies.