Trickle-down economics is a stupid economic fairy story because wealth doesn't trickle down from the rich to the poor and ordinary, it's siphoned upwards from the poor and ordinary to the rich.
She's dead keen on the masses getting in on share owning in their pensions. Just in the nick of time before the market swoons and the hedge funds scoop up Joe Soap's investment in shares.
When the market needs more investment is the time to be very cautious......
"Money calls to money", "The second million is considerably easier than the first", on and on Folk wisdom tells us that money doesn't trickle down, but floods upwards, as you said AAV.
The problem they face is that the City of London is HORRIFICALLY over-leveraged - for some god-unknown reason they figured they could defeat Russia through Ukraine, dismember her, instal Yelstin-like puppets, and live like it was the 1990s again.
And they bet BIG on this.
We are talking in the hundreds of billions since the 2014 fascist coup in Kiev.
Much of it underwritten by London. And they cannot afford that loss.
Note how casually "Another 10Bn in arms and money" are sent to Kiev ("It's our duty!") without mention in the corporate press; while every single penny they can claw out of the hands of the country's neediest and poor is done so heartlessly.
They apparently don't have a duty to US - only to The US, and Israel.
Which indicates they know who it is that really elected them.
Are they stupid people? Not really. They practise double-think so they can say these absurdities, and the billionaire media do the same.
The policy is decided - their job is to sell that predetermined policy. If they do it well, like B'Liar and Obomber, they get highly rewarded afterwards, so they never have to travel or live among the regular people they shafted.
You’re 100% correct in calling out “Trickle down economics”, however i think you’re being too kind by calling it a fairy story. I think of it as an evil, misanthropic, lie with the purpose of obscuring reality, which is that it’s class war. The political elites are waging a class war in order to protect the interests of their people - the wealthy. Claiming they are “working class” (Starmer : “My father was a tool maker”) is obfuscation and irrelevant. It’s what they do in positions of power that matters.
Former Greek finance minister Yanis Varoufakis told BBC Newsnight in 2015:
“The problem is that austerity is being used as a narrative to conduct class war. To be talking about reducing the state further when effectively what you are doing is reducing taxes like inheritance tax and at the same time you are cutting benefits – that is class war.”
If anybody troubles to find out where Starmer's family lived, and where he was brought up, they discover that it is,and always has been, one of the most expensive, sought after "villages" in the Home Counties. Oxshott.
At the heart of it is that this neoliberal economic nonsense has become entrenched as defacto orthodoxy, taught at universities (Oxford PPE) where robotic students (like one R. Reeves) lap it up and regurgitate it (and believe it) as incontrovertible fact. If you want to read more from sane and knowledgeable people, try Richard Murphy (taxresearch.uk), Steve Keen (Substack & Patreon), Jim Byrne (here), and also Gary Stevenson.
Or perhaps even better, read almost anything written by the Labour Party's tame (slightly resistant to his title) Lord, Prem Sikka. He has had various pieces in Left Foot Forward and similar, and he writes in standard English.
It didn’t work for the poor and working class because that was never the intention. Neoliberalism has worked incredibly well for those it was intended to benefit.
That appalling creature is increasingly coming to resemble the Wicked Witch. She is hardly human, is not good at national economics, and is only there because Starmer will never give good jobs to the clever and/or humane people who do exist in the Labour party, as they would all, without trying, show him up for the wet incompetent he is.
Here are some more pervasive economic fairy stories that people need to stop believing in:
https://anotherangryvoice.substack.com/p/10-pervasive-economic-fairy-stories?r=1xa6fm
She's dead keen on the masses getting in on share owning in their pensions. Just in the nick of time before the market swoons and the hedge funds scoop up Joe Soap's investment in shares.
When the market needs more investment is the time to be very cautious......
"Money calls to money", "The second million is considerably easier than the first", on and on Folk wisdom tells us that money doesn't trickle down, but floods upwards, as you said AAV.
The problem they face is that the City of London is HORRIFICALLY over-leveraged - for some god-unknown reason they figured they could defeat Russia through Ukraine, dismember her, instal Yelstin-like puppets, and live like it was the 1990s again.
And they bet BIG on this.
We are talking in the hundreds of billions since the 2014 fascist coup in Kiev.
Much of it underwritten by London. And they cannot afford that loss.
Note how casually "Another 10Bn in arms and money" are sent to Kiev ("It's our duty!") without mention in the corporate press; while every single penny they can claw out of the hands of the country's neediest and poor is done so heartlessly.
They apparently don't have a duty to US - only to The US, and Israel.
Which indicates they know who it is that really elected them.
Are they stupid people? Not really. They practise double-think so they can say these absurdities, and the billionaire media do the same.
The policy is decided - their job is to sell that predetermined policy. If they do it well, like B'Liar and Obomber, they get highly rewarded afterwards, so they never have to travel or live among the regular people they shafted.
You’re 100% correct in calling out “Trickle down economics”, however i think you’re being too kind by calling it a fairy story. I think of it as an evil, misanthropic, lie with the purpose of obscuring reality, which is that it’s class war. The political elites are waging a class war in order to protect the interests of their people - the wealthy. Claiming they are “working class” (Starmer : “My father was a tool maker”) is obfuscation and irrelevant. It’s what they do in positions of power that matters.
Former Greek finance minister Yanis Varoufakis told BBC Newsnight in 2015:
“The problem is that austerity is being used as a narrative to conduct class war. To be talking about reducing the state further when effectively what you are doing is reducing taxes like inheritance tax and at the same time you are cutting benefits – that is class war.”
If anybody troubles to find out where Starmer's family lived, and where he was brought up, they discover that it is,and always has been, one of the most expensive, sought after "villages" in the Home Counties. Oxshott.
❤️🔥
At the heart of it is that this neoliberal economic nonsense has become entrenched as defacto orthodoxy, taught at universities (Oxford PPE) where robotic students (like one R. Reeves) lap it up and regurgitate it (and believe it) as incontrovertible fact. If you want to read more from sane and knowledgeable people, try Richard Murphy (taxresearch.uk), Steve Keen (Substack & Patreon), Jim Byrne (here), and also Gary Stevenson.
Or perhaps even better, read almost anything written by the Labour Party's tame (slightly resistant to his title) Lord, Prem Sikka. He has had various pieces in Left Foot Forward and similar, and he writes in standard English.
Thank you for pointing out the obvious need for a change of thought and direction that Stareevesing idiocy is leading us into.
Didn't work in the 80s with Thatcher and Reagan, won't work now.
It didn’t work for the poor and working class because that was never the intention. Neoliberalism has worked incredibly well for those it was intended to benefit.
No problem, if she carries on wittering I will most certainly melt down and trickle gently away into the nearest available rabbit hole.
That appalling creature is increasingly coming to resemble the Wicked Witch. She is hardly human, is not good at national economics, and is only there because Starmer will never give good jobs to the clever and/or humane people who do exist in the Labour party, as they would all, without trying, show him up for the wet incompetent he is.
Thing is, it is deliberate, not some mistake or stupidity. These bastards are all part of the freidman school of economics that has f*cked the world.