People have been led to believe, wrongly, that their personal financial circumstances will improve when the federal budget is in surplus but the opposite is true. A federal surplus occurs when the government taxes more than it spends, (and what the hell point is that?). The net result is billions of dollars being sucked out of the economy.
If positive social and political change worked top down, we wouldn’t have to make this programme. Sadly, it doesn’t. So at a time when the political class is out of ideas and the corporate class is out of excuses for its behaviour, the job of finding new perspectives and insights and ideas falls to the independent media. As a busy year draws to a close we look back at those people who have inspired and enlightened us in 2017. This is the first of two shows that are a whistle-stop tour around the thinkers, writers, doers and Renegade types we met over the last 12 months.
The Tory exchequer has roughly four times as much money at its disposal as it did six decades ago. Yet, Britain’s richest 1% has as much wealth as the poorest 57% combined. When Theresa May says capitalism is the “greatest agent of collective human progress ever created”, what she really means is that it is the best model through which her class is able to financially enrich themselves by manipulating the institutions of society.
Contrary to political group think it was actually access private debt not public debt that brought the economy crashing down. But today private debt is again raging and nobody seems to want to address the issue. On the 10-year-anniversary of the Global Financial Crisis, anthropologist and author, David Graeber and former chairman of the now abolished Financial Services Authority, Lord Turner sits down with co-founder and presenter, Ross Ashcroft, to discuss what is preventing us from talking about the taboo that is Britain’s private debt problem.
Your car gets counted once when it is built, not when it is driven. Your clothes, your bicycle, your furniture, all get counted once when they are manufactured, and not again when they are worn, ridden, or sat on. But homes are counted twice in GDP, writes Dr Cameron Murray: Once when they are constructed, and again when they are occupied. If we are going to count housing in GDP, shouldn’t we count it just once?