Some items that I heard on the radio driving home – excuse any imprecision, I had my hands on the wheel and did not take notes:
- In the past year, the top 1% incomes have risen by around 35%, everyone else has risen by around 0.5%. Economists are debating whether this signifies and economic recovery.
- Quantitative easing puts money into the hands of the already very rich, in the hope that it will trickle down to the rest of the population. So far we have seen an increase in the number of houses exchanged for over £1million, and the highest price ever paid for a work of art.
- No central bank is likely to be bold enough to stop quantitative easing in the future.
I struggle to understand how, in a supposed democracy, this fits with austerity working. The poorer are getting poorer and the richer are getting richer. How can a civilized world accept this?
See the following for more. This is a global problem.
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