Wednesday, September 01, 2010


In the USA the Republicans still think that tax cuts for the rich and deregulation will solve America's economic problems. (Republicans Plot Tax Cuts And Deregulation For 2011 ...)

In the 1960s and 1970s:

There was widespread regulation of the economy and there were high taxes for the rich.

The world economy grew at about 3%, in per capita terms, each year.

From the 1980s onwards:

There was less regulation of the economy and there were lower taxes on the rich.

The world economy grew at about 1.5%, in per capita terms, each year.

On 30 August 2010, Cambridge University's Ha-Joon Chang (We lost sight of fairness in the false promise of wealth) relates:

"After three decades of deregulation and tax cuts for the rich, growth has slowed down, rather than accelerated, in almost all countries...

"In Britain, average annual per capita income growth rate was 2.4% in the 60s and the 70s, when the country was allegedly suffering from the 'British disease'; but it fell to 1.7% during 1990 to 2009, after it is supposed to have been cured of the disease thanks to Margaret Thatcher's heroic struggle in the 1980s."

The liberalisation of trade has meant "destroying swaths of 'infant' industries.

Deregulation has meant bosses, who pay themselves millions, looking for short-term profits.

To get short term profits you cut long-term investments in such things as machinery and research and development.

"It cannot be blithely assumed that markets know how to maximise wealth."

Margaret Thatcher destroyed industries. In 2009, Britain accounted for 2.6 per cent of world manufacturing output. In 1980, the share was nearly 6 per cent. ( / global producers) Margaret Thatcher had a Cabinet which included five Jews: Lord Young, Malcolm Rifkind, Leon Brittan, Nigel Lawson and Keith Joseph.(Margaret Thatcher's Jewish links)

What about Ronald Reagan and the US economy?

According to John Miller, teacher of economics at Wheaton College (Ronald Reagan's Legacy):

"The economy grew much more slowly in the 1980s than during the 1960s, more slowly than the postwar average of 3.6% annual growth, and no faster than in the 1970s or the 1990s.

"Nor did Reagan administration regulatory rollbacks unleash a productivity boom.

"Productivity gains in the 1980s failed to match those in the decades before and after, and couldn't hold a candle to the productivity gains of the 1960s boom...

" Reagan administration economic policies did not result in a 1960s-style prosperity, when workers' real wages went up in tandem with the value of stock holdings-just the opposite.

"Since 1980, the gains from U.S. economic growth have gone overwhelmingly to the well-to-do, and economic inequality has steadily worsened."

30 Statistics That Prove The Elite Are Getting Richer, The Poor Are Getting Poorer And The Middle Class Is Being Destroyed


1 comment:

Dublin Mick said...

Breaking Veterans Today releases new secret Al Qaeda tape even the isrealis could not find.

By Gordon Duff STAFF WRITER/Senior Editor

Just in time for the 9/11 “celebrations” in New York, the “idiotfests” prostesting the Fox News financed “terror mosque” or the “save the Constitution” rallies for the “bring back slavery” white supremist crowd, also financed by more Israeli-Americans tied to American fascism, this video mysteriously appears. We didn’t get it from the Mossad or the CIA. Friends from Afghanistan sent the link to me last night via their secret server in the caves near Tora Bora. (They work for the United Nations….I think they are studing the mating habits of bats.)

The link led me to a secret Jihadist site even the Israeli’s, always finding Osama bin Ladens at the most convenient times, couldn’t locate.

Veterans Today, one of the world’s most respected sources for intelligence and analysis, is now, finally, ready to go to congress and ask for millions of dollars in subsidies to feed Islamophobia and the continued insanity in Afghanistan.

With an editorial and writing staff that has a combined 2500 years of military service, 500 years with intelligence agencies around the world, speaking 56 languages (writing only 2), with staff members on terrorist watch lists from 27 governments including, not only the United States but Uganda, Poland, Latvia and Andorra, few organizations can approach our capabilities.
I am packing my bags today, ready to head to Washington to brief Congress and sign contracts to find more of the same. Ain’t America grand?

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