Just been looking at the Lloyds Banking Group results. The Group posted a £570 million loss in 2012. OK, so we know that the bank is having to make provisions to compensate for its fraudulent selling of Payment Protection Insurance (PPI) and interest rate swap products to the tune of £1,800 million – which masks the Group’s underlying operational performance.
When asked of her proudest achievement in government Margaret Thatcher said, wryly, and accurately one assumes, "New Labour." She changed the mood music of UK PLC under her watch, and in these times of neo-liberal ascendancy that Thatcher beckoned in, neither Labour nor the Tories will introduce a Hollande style higher income tax bracket so that those who can afford it most contribute more to public finances through their income.
Democracy will not work in a jurisdiction where the majority of the electorate lack education, a minimum moral standard, and a sense of citizenship. How can the raw capitalist spirit be tempered to produce sustainability and a great democracy?
Unbridled capitalism favors the survival of the fittest even if it means pushing other people into destitution and starvation, creating untold suffering for animals and the natural environment, and depleting and destroying the natural resources of our world.
Practically the entire world is under control of powerful money interests, whether they be Chinese, Russian, European, American or other oligarchs or trans national organizations. This has not always been the case.