Announcement

Collapse

Welcome to Moorcock's Miscellany

Dear reader,

Many people have given their valuable time to create a website for the pleasure of posing questions to Michael Moorcock, meeting people from around the world, and mining the site for information. Please follow one of the links above to learn more about the site.

Thank you,
Reinart der Fuchs
See more
See less

The best and the worst of our nations

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • #61
    If you measure by the one statistic, the share of wealth held by the fewest people, it began around 1980 with Reagan and Thatcher and their tax policies, along with cuts to the welfare state. In the US it was called 'supply side economics' which is not economics, it's a rationalization for allowing a few insiders to loot the nation's wealth. Taxes and fees have actually gone up for the middle classes while opportunity and access to capital has gone down.

    Comment


    • #62
      Originally posted by opaloka View Post
      In the US it was called 'supply side economics' which is not economics, it's a rationalization for allowing a few insiders to loot the nation's wealth.
      Very much so. I'dd also add deregulation to the list of aids those insiders were given (or that they bought) to enable their looting. And now quantatative easing and zero interest rates, even more help in looting that wealth and robbing savers. I'm inclined to trace it further back to Nixon severing the last ties to the gold standard - every fiat currency has failed in the end. (Starting with the denarius - 100% silver in the first century AD and gradually devalued to around 0.02% silver and regarded as completely worthless as an exchange medium by the time of the fall of Rome.) I still plan to buy gold or silver with any money I can get my hands on, "Money in the bank" just ain't what it used to be...

      But I love the irony that Thatcher and Reagan turned out to be far more dangerous and effective enemies of capitalism than Karl Marx ever was.

      Comment

      Working...
      X