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Showing posts from February 6, 2014

Capitalism at its worst

Capitalism
            Capitalism: of the rich, by the rich and only for the rich!
The release of Oxfam's report on global inequality: 'working for the few,' reveals a number of damming indictments upon capitalism and the developed world. Some of its findings are startling:• The richest 85 people across the globe share a combined wealth of £1trillion, as much as the poorest 3.5 billion of the world's population.• In the US, years of financial deregulation directly correlates with the increase in the income share of the top one per cent, which is now at its highest level since the eve of the Great Depression;• In Europe, austerity has been imposed on the poor and middle classes under huge pressure from financial markets whose wealthy investors have benefited from state bailouts of financial institutions.Despite the global economy reaching $72 trillion, the largest in world history and global trade worth $36 trillion, (again, the largest in world history) never have so…