Capital Idea

John Humphrys [sexist pig] was interviewing a GMB union representative this morning [08:10] about Carillion and its downfall.  The BBC seems to want to shift the blame away from Carillion for some reason and onto the banks and politicians judging by this report….however apparently Capitalism is in the dock even if Carillion management are not.

The GMB rep. made no mention of Capitalism or smashing the system and yet Humphrys kept bringing it up suggesting that the Rep. was telling us the demise of Carillion signified the end of Capitalism…or ‘the system’ as Humphrys called it.  But Captalism isn’t a ‘system’ just the natural way of doing business and way of life for people who create and produce products….it is not an ideology such as Socialism which only works at the point of a gun, and even then doesn’t actually work.

Let’s think…hmmmm…which politician is advocating the smashing of Capitalism and the imposition of a Marxist Utopia?  Could it be the BBC’s favourite terrorist supporting Far-Left Marxist wrecker?  It certainly could, step forward Jeremy Corbyn…or is he too busy writing the BBC’s business reports?   Such as this one which could indeed have been written by Corbyn or one of his lackeys packed full of half-truths, strawmen and conclusions based upon dubious associations and interpretations…..

Was 2017 a bad year for capitalism?

2017 was the year the budget watchdog in the UK finally gave up waiting for the usual historical rise in productivity to return – with painful consequences for the public finances and the chancellor.

When you give up on improving productivity, some would argue that you are pretty much giving up on capitalism.

‘some would argue’…..er who’s that ‘some’?  Corbyn and Co perhaps?

Silenced during the financial crisis, the full-throated roar of capitalism should have been deafening.

And yet on many measures, 2017 was a bad year for capitalism, the system of free-market economics.

For starters it was the year it faced serious opposition.

In his conference speech, Labour leader Jeremy Corbyn said that capitalism faced a “crisis of legitimacy” after the 2008 financial crash and the time had now come for a new economic model, with a bigger role for the public sector, renationalised utilities and more investment in infrastructure and skills.

Labour Party membership doubled under Mr Corbyn, and having been written off by most pundits when the election was called, Labour ended up gaining 30 seats.

Experts who wrote off his chances soon claimed it was no surprise how well Mr Corbyn’s criticisms of capitalism went down given the economic reality of most people’s lives.

Capitalism’s central promise is that through hard work you – and your family – will have a better life. Of course, there are recessions from time to time but, generally speaking, the tide of economic growth will eventually lift all ships.

Well, that hasn’t been true for millions of people since the economic crisis of 2008 but in 2017 a new grievance was added to the decade-long austerity fatigue. After a two-year period in which pay rises narrowly exceeded negligible inflation, prices started rising faster than pay – meaning on average people were getting a little poorer every day.

 The main reason behind stagnant pay was, as every economist in the land told us throughout 2017, poor productivity. 

Where does the BBC think the money comes from to run a socialist utopia?  Business is where the money comes from, even Lenin acknowledged that Capitalism was essential to fund his socialist dream, at least, until it could stand on its own two feet….which of course never happens.  The only other way is socialist slavery where the workers do as they are told for meagre returns as in the Soviet Union…the Soviet Union only kept afloat by loans from the decadent West.  Want to nationalise the railways?  Where does the money come from to run them?  From the taxes on buinesses and from those employed in those businesses.

Interesting that last line about poor productivity as the main reason for stagnating wages…the BBC’s infamous ‘squeeze’.  OK…..not austerity then as the BBC has insisted for years now?

If productivity is the problem why is that?  All too freely available labour...in America where it comes flooding across the border with Mexico and in the UK where it floods across the Channel……

A crucial measure of how far from full recovery the economy remains is the growth of nominal wages (wages unadjusted for inflation). Nominal wage growth since the recovery officially began in mid-2009 has been low and flat. This isn’t surprising–the weak labor market of the last seven years has put enormous downward pressure on wages. Employers don’t have to offer big wage increases to get and keep the workers they need. And this remains true even as a jobs recovery has consistently forged ahead in recent years.

The EU’s forced freedom of movement destroys our productivity and our wages…..remarkably the normally anti-Big Business BBC bends over backwards to hide this and to push the case for Big Business to keep importing cheap labour undercutting our own people.

The reality is that the bosses have been raking it in at the expense of their workers…..productivity for them is fine if measured not by goods produced per man but per pound…..the same amount of goods are being produced for less money, lower wages…thus productivity isn’t down, wages are.  Just remember these are the same bosses who happily pack up a factory and ship it out to China or Turkey and yet the BBC fills the airwaves with stories of how much these fat cats are concerned about the British economy #duetoBrexit.  They don’t give a monkeys, all they are concerned about is their bank accounts.

The BBC continues in this report to push Labour’s lines on housing and social mobility….

Perhaps the most damning report on capitalism in 2017 was to be found in the housing and social mobility figures.

In truth, there have been very few good years for capitalism since the great financial crisis. In 2011, the Occupy movement invaded Wall Street and the City of London demanding immediate global change.

Those tents and placards are long gone.

But the effects of the crisis on earning power, living standards, home ownership and social mobility – all things capitalism promises to improve – remain with us as we end 2017.

But the housing crisis is a result of mass immigration into this country, just how do you house 300,000 people per year? And lack of social mobility is untrue….never have people from all walks of life had more opportunity to get on in life than now.

This BBC report is just pure Corbyn propaganda…and Humphrys this morning just added to the mix.