Rising rates are part of the aggressive measures of the world’s major central banks, led by the US Federal Reserve and the European Central Bank, to « the demand for higher wages » the face of the greatest cost-of-living crisis since the 1930s.
excerpts from the article:
The bank explained that « pressure on » wage growth can only be met by recession policies, including an increase in unemployment by at least 600,000 next year.
The bank governors described the economic risks associated with « external and domestic » shocks as exceptionally important « ».
By raising interest rates, the BoE is applying the diktats of financial markets, corporate boards, and banks in response to a growing wave of social movements and wild strikes that threaten to snowball. His supposedly unbiased economic statements are a class war program.
The working class will be forced to pay for a global inflationary crisis triggered by:
1) trillions of pounds of corporate and financial bailout by central banks during the pandemic,
2) NATO’s proxy war against Russia, which has led to increases in fuel and raw material prices, and
3) the unprecedented mercantilism of the financial oligarchy that has inflated global asset prices worldwide.
The ruling elite intends to impose the largest ever increase in defense spending to wage war on Russia and China through a frontal assault on the working class.
Its tightening of monetary policy is above all a response to the eruption of strikes involving hundreds of thousands of workers after decades of repression of the class struggle.
Strikes by British railway, postal and telecommunications workers and buses have already taken place, and this week saw wild strikes on wages in three Amazon warehouses and a food manufacturing company. The ruling class fears this movement will spread in a context where nurses, doctors, teachers, firefighters, speakers, civil servants, lawyers and community workers are determined to strike after being offered salary increases of just 2% that will push millions of people to death.
The Bank’s objective is to counter this growing wave of activism by forcing desperate workers to accept further brutal wage cuts or face mass unemployment and financial ruin.
While workers’ wage demands are blamed for causing inflation, the real cause is a dramatic increase in corporate profits. In the midst of the pandemic and NATO’s proxy war against Russia, extreme benefits account for about 60% of the increase in inflation.
Record profits of nearly £50 billion were announced by the world’s five largest oil companies, including £6.9 billion for BP between April and June and $11.5 billion for Shell. A June 2022 report by the Unite Union noted that the top 350 companies listed on the London Stock Exchange had their profits increased by 73% in 2021 compared to the year before the pandemic. Corporate profits across the United Kingdom increased by 11.74% in the six months of October 2021 to March 2022.
At the other end of the scale, average wages are not higher today than they were before the 2008 financial crisis, a loss of £9,200 a year. As a result, soaring inflation means that more than two million households are left without « heating and » food, according to the Joseph Rowntree Foundation, and seven million families live a frightening « year of » financial fear.
The Socialist Equality Party demands immediate general elections to unmask and defeat the ruthless plans of conservatives and Labor and advance the struggle for a genuine socialist alternative to austerity, the current pandemic and the growing danger of world war.
(Article published in English on 8 August 2022)
end of document.
This has the merit of being clear. England in its history has not made a revolution, except the Cromwell Republic and puritans predestined to govern the world, who had nothing of a movement for the benefit of all citizens. By contrast, it experienced the massacre of Christian and romanised populations in the 1940s during the Anglo-Saxon invasion. And then two civil wars in defense of the Commons against the willingness of the rich to appropriate these commons that allowed the rural people to live off their livestock and their fields.
Both political leaders and the wealthiest have crushed these popular revolts, and each time poverty has been avoided only by the emigration or deportation of insurgents to the Caribbean and then North America.
A great classic in the direction of the world by the Anglo-Saxon financial oligarchy.
Document: excerpts from Jacques R. PAUWELS’ book, Big Business with Hitler, Aden Publishing, February 2013. pages 333 et seq.
American big business came out of World War II with almost complete control of the American state. So it is hardly surprising that both national and international policies followed by Washington after 1945 have consistently sought to achieve the big business goal of maximizing profits. It is only in the light of this reality that it is possible to explain two paradoxes in the post-war history of a country that is perceived as the admiral vessel of pacifism and democracy: one, an astonishing tolerance for fascist dictatorships, and two, repeated participation in wars that are only too often triggered by the United States itself.
Before World War II, fascist dictatorships had proven to be extraordinary instruments for profit-making or capital-raising. In this respect, fascism remained useful after the war. That is why the US government has not only tolerated but even actively supported fascist dictatorships or other authoritarian regimes in countries like Spain, Portugal, Greece, Turkey, Iran, Taiwan, Indonesia, the Philippines, Chile, Argentina, South Korea, South Vietnam, the Dominican Republic and South Africa. This “pro-fascist” policy offered large American (and international) companies every opportunity to make significant profits, just as it had before in Nazi Germany, namely through the elimination of trade unions, a low-wage and long-working system, arms orders, etc.
…/… In 1945, after the victory over Germany and Japan, a new enemy was urgently needed in order to continue to wage war. This enemy was very quickly found, and he had actually always been there: the Soviet Union, the country that, in the 1930s, had been the bogeyman of the “America of Big Business,” but had been a very useful ally during the war.
…/… The sudden and unexpected end of the Cold War confronted large American companies with a potential catastrophe, namely the transition from a highly profitable war economy to a peace economy with inevitably lower profits. This time it was a little bit more difficult to find new enemies and thus find a justification for maintaining the US war economy, what has been called the warfare system or the Pentagon system.
But a final, or “final,” solution to the lack of enemies was discovered under George W. Bush’s presidency: The attacks of 11 September 2001 in New York and Washington ushered in a “war against terrorism.” This new battle horse amounts to a permanent state of war on a global scale against all those who, at any time, can be called “terrorists” by the American elite of power.
From “terrorism,” it cannot be expected to surrender at some point. The American big business is therefore in good shape, to the great detriment of the “ordinary” Americans who finance this war with their taxes and blood. The big companies – especially Halliburton, a reputational firm associated with former Vice President Dick Cheney – are pocketing the huge profits that this war has made possible. Today, in the United States, war is an instrument for redistributing wealth from the poorest to the richest, just like under the Third Hitler Reich.
…/… Unintentionally or unintentionally, Obama does what the power elite expect of him, he pursues the wars that that elite needs, the wars that big business doesn’t want to happen anymore. The problem is this: how could big American companies make tremendous profits in a way that is not war-proof? “.
end of document.
John F. Kennedy’s Speech of April 27, 1961, denounces a massive, unforgiving conspiracy » and a « complex »-to-destroy system that really wields power in the United States and around the world. This daring commitment will be one of the direct causes of his assassination.
More modestly, we have been with my comrades warned of a threat identical to that mentioned by the President of the United States of North America.
When the fodder was handed over to the young men of the 27th Battalion of Alpine Hunters on the Glières plateau, at the end of March, on the anniversary dates of the fighting of the end of the maquis, the elders of the Glières maquis after hanging this red fodder on us, soberly repeated: stay vigilant and be ready, they will come back!
They weren’t talking about the defeated Nazis, they were talking about Anglo-Saxon leaders who use fascism to maximize their profits and the dominance of their global government. These American Wall Street leaders who simultaneously financed the three Socialisms: the Soviet and Communist Revolution, Roosevelt’s New Deal, Hitler’s German National Socialism.
These Anglo-Saxon leaders, who, under the pretext of avoiding the takeover of power by the communists in France, had not parachuted the bazookas and mortars that were so lacking to them, after the plateau had descended, in the tragic night of the evacuation of the maquis, during the fighting in the valleys to destroy the German machine guns against which they were unable to fight and which massacred so many of theirs.
They will come back, have already returned or never left some poor countries and have been kept in poverty.
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