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.
Before we all start frothing at the mouth over the recent indictments by Robert Mueller over alleged US election interference by the Russians, let’s get a few things clear: We do not yet have any evidence of any collusion with the Russian government. What we do have evidence of however, is the overwhelming influence of foreign money in US politics.
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.
Pure capitalism is beginning to look really similar to pure feudalism. Renegade sociologist, Holly Wood explores how we’ve passively accepted the private expropriation of public wealth.
Have you heard the one about Goldman Sachs investing $9.6 million into the Adolescent Behavioural Learning Experience (ABLE) programme at Rikers Island penitentiary in New York? No? It’s a corker. But it’s no joke. It is a disturbing example of what can happen when big finance gets involved in public policy.