Monday, 26 April 2010

Economic turmoil, in a nutshell

According to Philip Beresford, compiler of the Sunday Times Rich List;
The rich have come through the recession with flying colours. The stock market is up, the hedge funds are coining it. The rich are doing very nicely. The rest of the country is going to have to face public spending cuts, but it has little effect on the rich because they don’t consume public services.
In other words, those who work for and produce all of the wealth are suffering immensely, whilst those who took that wealth for themselves and pissed it up the wall are doing just fine.
That is precisely what is wrong with capitalism.