Capitalism: Does it work for you?
We are told that Capitalism is the most effective way to run an economy, but I sometimes I have my doubts. One of those times is now.
The boss of Ryanair says he does not feel he has to meet his obligation to payout to his passengers stranded overseas – because the fares are so cheap. And he will take on the regulators: “Great opportunity for the airlines to expose this nonsense”.
The Airlines seem to be able to over-ride governments (and expect to be bailed out by them – i.e. us – at the same time).
A bank wraps up a load of dodgy mortgages which it expects to fail and flogs them to saps whilst at the same time allowing someone to lay a bet on them failing – and it takes a cut from which it pays bonuses.
Kenneth Clark says if we have a hung parliament the Bond Market will determine our future – and it won’t be pretty.
Do Governments govern or do markets and the global corporations rule?
Politics is dead, long live economics.