If the world worked as the Tory fiction espoused, Osborne’s tinkering would do some good; but it doesn’t and it won’t. The system is still structured around flowing wealth to those who have more than enough and to strengthening the corporate sector. Low income citizens and small businesses will be worse off while corporations will thrive. TTIP will also hasten the process to disenfranchise the people so that corporations and banks will not just run everything as they do now but they will do so ‘offically’. What we are witnessing is the end of democracy and a return to a feudal system in which all structural decisions are out of bounds and big money runs everything. Some might say it has always been like that and that democracy has been a flash in an otherwise brutal pan. That might well be true but ‘government for the people, by the people’ is a slogan that is worth living up to.
The task for Labour is to put forward a narrative and a vision that brings power back to elected governments. The corporate sector is out of control; it receives more hand-outs than the people, it controls all all aspects of our lives and steals the wealth created by the low paid all over the world. Money supply should be part of the government remit and not left to private banking concerns. Osborne wants us all to live within our means – but not the corporate sector, their money supply is created out of nothing by the banks. The banks use a fractional reserve system so they can create 10 times (or often more) the amount of money they actually have in receipts. The wealthiest of all have made all of their money from debt which is not earned, not created in the real economy and not underpinned by real assets. When the system overloads, as all pyramid schemes do eventually, the banks are re-financed by tax-payers who are expected to give up their earnings to prop up a system that creates it’s own money supply only if it benefits the rich. When it fails, the poor pay for it.
Wake up Labour!