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EMERGING GROWTH

Emerging Growth (But At What Cost?)

I think that the working class would find it still difficult to believe that “green shoots of economic growth are appearing”, according to the Chancellor recently. Certainly from the perspective of the majority I would hazard to venture that the cost of living rises, especially from the uncontrolled greed of power companies, combined with stagnant wages, that in real time have been reduced, would result in a belief that things are actually getting hard. I accept from the big corporate perspectives they would not agree, but that’s because they are the ones making it harder for us all to pay bills, bills which never cease in their endless quarterly or monthly flight through my letter box and onto the mat. The big corporations really have benefitted from the Governments lack of willingness to regulate them or get them to cut their cost to help a struggling nation, but instead they manage to cut investment in renewable energy, which makes our futures untenable on this fragile ecosystem called Earth.

Furthermore, these holders of high office have even rewarded failure of the corporations to deliver on the big contracts. For example, when G4S did not live up to its obligations to cover the wonderful Olympics and Paralympics (thank you Lord Coe and your Team, it was wonderful), they did not have to pay the money back and even won other contracts after that farce that the Armed Forces (with the thanks of the nation) rescued us from to keep people safe at the Games. So I conclude that the well-known phrase, “Greed is good”, is alive and well for the privileged few. For the rest of us we struggle from month to month despite the recession. Since the 2008 financial crash that plunged us all into a recession, the like of which has not been seen since the 1920’s, there have been vultures circulating, feeding, their squawks so appealing to the needy, the desperate, the weak that feel they have no options. But unlike even the power companies these vultures have feasted so well and are now everywhere, sponsoring TV films, Premier League teams, and with adverts bombarding our senses until they actually seem acceptable. But of course they are not, they are parasites making it good on the back of the recession, sucking their hosts dry, even having the religious establishments rage against them like the biblical battle of Jesus against the money lenders. Yes these parasites are pay-day-loan companies. Perhaps making reference to the church wasn’t the best thing since they found out they were investors in the very same companies they were declaring economic war on.

The same acute embarrassment, the custard pie in the face of, the pulling down of trouser type humiliation that Councils faced when they too raged against the loan companies only to find out their pension pots were doing very nicely from these companies. But the principle, the conviction was right, to set up Credit Unions in every church, in every high street to challenge the spread of these parasitic pests. Credit Unions that would offer the needy a low rate of return and even lower interest rate, not the 5,000% APR and over advertised on many of the adverts. This whole situation is compounded by the fact these immoral vultures do not care who they loan to. They claim to do checks but many exposé has revealed that they do not; they feast on their victims until there is nothing left, to then cast them aside to be broken finally by debt collectors.

To these vultures the recession has been the perfect conditions for them to grow, to breed, but also the lack of regulation has also added to their success by sucking the life out of people. I take issue with the Government, they could stop these people advertising on TV, in newspapers, they could cap the APR, they could do a host of things to make this situation so much better, but the simple truth is that they choose not to, choose to watch their investments in such companies grow. The powerful few could easily stop the misery these companies inflict on people but they choose to take the dividends from their investments and let the most vulnerable be victimised. They choose to look away and pretend that it is the choice of the people to use them or not, economic success or not is down to the consumer they would say, but this is far too simplistic, and they blinking well know it. You see the people that are most affected are the very people who cannot cope with their bills any longer.

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