If everyone demands a pay rise now then it will bake in a new level of inflation that will spiral on and on, and if anything, it will speed up the rate at which the economy will collapse. It's unsustainable.These people are a model to follow: everyone should be striking. Workers are being ROBBED by politicians and central bankers.
Echoes of lockdown as employees prepare to work from home and business leaders warn of painful economic hit
The RMT is being selfish as I said in my previous post. Some people can't get to their cancer treatment appointments (and other such important things) without the trains running. This is a knock-on effect from the lockdowns during COVID-19 and should have been expected, especially with all the money printing that has been done in an attempt to cover over the fragile cracks that have been left from decades of bad monetary policies.
Let the cost be reabsorbed from the profits the banks are currently making since it was the taxpayers that bailed them out. What did we get in return for bailing out a toxic industry? We should have let it all collapse because nothing has changed.
In the UK, we had the recapitalisation of RBS and Lloyds, and the nationalisation of Northern Rock and Bradford & Bingley.
Check out this excerpt:
Credit Guarantee Scheme: Launched at the same time as the recapitalisation programme, the scheme allowed eligible participants (adequately capitalised, UK incorporated deposit-taking banks and building societies) to issue unsecured debt securities to raise capital with taxpayers acting as the guarantor.
Taxpayer exposure was capped at £250 billion and peaked at £140 billion before the scheme's closure in 2012. A fee (50 basis points plus 100 per cent of the institution's median five-year Credit Default Swap (CDS) spread during the twelve months to 7 October 2008) was charged for use of the scheme and 14 institutions took advantage of taxpayer support ranging from Barclays to Tesco.
Taxpayer exposure was capped at £250 billion and peaked at £140 billion before the scheme's closure in 2012. A fee (50 basis points plus 100 per cent of the institution's median five-year Credit Default Swap (CDS) spread during the twelve months to 7 October 2008) was charged for use of the scheme and 14 institutions took advantage of taxpayer support ranging from Barclays to Tesco.
And what did I/we get in return for helping prop up an entire industry? Nothing. What they did was unprecedented and it shows how deep the corruption runs.
One could argue that all we achieved with QE was a delay of the inevitable, because as soon as the process was reversed, this was always going to be the result. We put a weak band-aid on and now that has fallen off we are back to where we started.
It is healthy to let companies and industries collapse if they deserve to. It is toxic to pretend that everything is ok and to continue doing things in the same manner, so we either resolve the core issues and live in a monetary sound way, or we endure the chaos of people striking to our own detriment.
People don't know what is best for them because most have a very short term view of the world. They would rather have a short term cash injection now than ensure our future prosperity and that of our children and of our children's children.
It is the same people who want this strike that will only vote if there is more spending involved. They encourage the money printers to be running at all times.