The Richest 0.1% Is Now Worth Nearly As Much As The Bottom 90%
Wealth inequality in the US is at near record levels according to a new study by academics. Over the past three decades, the share of household wealth owned by the top 0.1% has increased from 7% to 22%.
For the bottom 90% of families, a combination of rising debt, the collapse of the value of their assets during the financial crisis, and stagnant real wages have led to the erosion of wealth.
The share of wealth owned by the top 0.1% is almost the same as the share owned by the bottom 90%
The research by Emmanuel Saez and Gabriel Zucman [pdf] illustrates the evolution of wealth inequality over the last century. The chart shows how the top 0.1% of families now own roughly the same share of wealth as the bottom 90%.
The picture actually improved in the aftermath of the 1930s Great Depression, with wealth inequality falling through to the late 1970s. It then started to rise again, with the share of total household wealth owned by the top 0.1% rising to 22% in 2012 from 7% in the late 1970s. The top 0.1% includes 160,000 families with total net assets of more than $20m (£13m) in 2012.
In contrast, the share of total US wealth owned by the bottom 90% of families fell from a peak of 36% in the mid-1980s, to 23% in 2012 - just one percentage point above the top 0.1%.
Average wealth of families in the bottom 90% and the top 1% of the wealth distribution, in constant 2010 US dollars, 1946-2012 Photograph: Emmanuel Saez and Gabriel Zucman
The growing indebtedness of most Americans is the main reason behind the erosion of the wealth share of the bottom 90%, according to the report’s authors. Many middle-class families own their homes and have pensions, but too many have higher mortgage repayments, higher credit card bills, and higher student loans to service. The average wealth of bottom 90% jumped during the stock market boom of the late 1990s and the housing bubble of the early 2000s. But it then collapsed during and after the most recent financial crisis.
Since then, there has been no recovery in the wealth of the middle class and the poor, the authors say. The average wealth of the bottom 90% of families is equal to $80,000 in 2012— the same level as in 1986. In contrast, the average wealth for the top 1% more than tripled between 1980 and 2012.
Among the nine G20 countries with sufficient data (featured in the graph above), the richest 1% of people (by income) have increased their income share significantly since 1980, according to Oxfam. In Australia, for example, the top 1% earned 4.8% of the country’s income in 1980. That had risen to more than 9% by 2010.
Oxfam says that in the time that Australia has held the G20 presidency (between 2013 and 2014) the total wealth in the G20 increased by $17tn but the richest 1% of people in the G20 captured $6.2tn of this wealth – 36% of the total increase.
Charlotte Church makes stand against UK tax dodgers attacked over 'injustice and inequality' comments
The singer said she was "disappointed" with the response after she said she'd be happy to pay more tax if it helped protect public services
Charlotte Church has hit back at the 'vitriol' directed at her for saying she'd be happy to pay a 70% rate of tax - saying the government have made her "angry as the Hulk."
At a press conference ahead of an anti-austerity march in London, the singer said she would pay more tax if it helped protect public services.
But critics online said there was nothing stopping her paying more tax - and if she felt that strongly about it, she should.
She took to Twitter to slam her critics - and took aim at the government, too.
She said: "I'm disappointed at the vitriol directed my way.
"If I gave 70% of my earnings to HMRC voluntarily, not only would it not last long as our public services cost 100s of billions to fund but I doubt it would encourage the richest in this country to get a conscience and follow suit."
She added: "I have no ulterior motives. The injustice and inequality in society that is pushed further by this government makes me as angry as the Hulk!"
The former child singing star has become an outspoken critic of Tory austerity measures in recent months, after becoming disillusioned with the political system during the general election campaign.
She was speaking ahead of an anti-austerity rally to be held in London on Saturday June 20th.
"I've paid all my taxes since I was six years old," she said. "I would happily pay more. I would totally be happy if it was raised to 60 or 70%."
She said she found David Cameron "misogynistic" when she met him.
She urged members of the public to attend the demonstration, entitled "End Austerity Now."
The People's Assembly said 70,000 had already pledged support for the event in London on June 20.
Steve Turner, assistant general secretary of Unite, predicted it would be the biggest protest for years.
Further demonstrations will be held on the day of the Budget next month and outside the Conservative Party annual conference in October.
The Global Economic Crisis, The Great Depression of the XXI Century
In all major regions of the world, the economic recession is deep-seated, resulting in mass unemployment, the collapse of state social programs and the impoverishment of millions of people. The economic crisis is accompanied by a worldwide process of militarization, a “war without borders” led by the United States of America and its NATO allies. The conduct of the Pentagon’s “long war” is intimately related to the restructuring of the global economy.
We are not dealing with a narrowly defined economic crisis or recession. The global financial architecture sustains strategic and national security objectives. In turn, the U.S.-NATO military agenda serves to endorse a powerful business elite which relentlessly overshadows and undermines the functions of civilian government.
This book takes the reader through the corridors of the Federal Reserve and the Council on Foreign Relations, behind closed doors at the Bank for International Settlements, into the plush corporate boardrooms on Wall Street where far-reaching financial transactions are routinely undertaken from computer terminals linked up to major stock markets, at the touch of a mouse button.
Each of the authors in this collection digs beneath the gilded surface to reveal a complex web of deceit and media distortion which serves to conceal the workings of the global economic system and its devastating impacts on people’s lives. Our analysis focuses on the role of powerful economic and political actors in an environment wrought by corruption, financial manipulation and fraud.
Despite the diversity of viewpoints and perspectives presented within this volume, all of the contributors ultimately come to the same conclusion: humanity is at the crossroads of the most serious economic and social crisis in modern history.
The meltdown of financial markets in 2008-2009 was the result of institutionalized fraud and financial manipulation. The “bank bailouts” were implemented on the instructions of Wall Street, leading to the largest transfer of money wealth in recorded history, while simultaneously creating an insurmountable public debt.
With the worldwide deterioration of living standards and plummeting consumer spending, the entire structure of international commodity trade is potentially in jeopardy. The payments system of money transactions is in disarray. Following the collapse of employment, the payment of wages is disrupted, which in turn triggers a downfall in expenditures on necessary consumer goods and services. This dramatic plunge in purchasing power backfires on the productive system, resulting in a string of layoffs, plant closures and bankruptcies. Exacerbated by the freeze on credit, the decline in consumer demand contributes to the demobilization of human and material resources.
This process of economic decline is cumulative. All categories of the labor force are affected. Payments of wages are no longer implemented, credit is disrupted and capital investments are at a standstill. Meanwhile, in Western countries, the “social safety net” inherited from the welfare state, which protects the unemployed during an economic downturn, is also in jeopardy.
Five big banks face criminal charges and $6b fine over currency rigging
Five of the world's biggest banks are expected to be hit with a combined bill of more than $US5 billion ($6.3 billion) and criminal charges on Wednesday in a settlement with US and British authorities over rigging of currency markets.
It will mark another dark day for an industry trying to put past sins behind it and brings the total in penalties some big banks will pay for their traders allegedly manipulating the $US5-trillion-a-day foreign exchange market to about $US10 billion.
US banks JPMorgan and Citigroup and Britain's Barclays and Royal Bank of Scotland are expected to plead guilty to criminal charges with the US Department of Justice related to forex manipulation, people familiar with the matter said.
It would be unprecedented for the parent companies or main banking arms of so many major banks to plead guilty to criminal charges in a coordinated action. JPMorgan and Citigroup would be the first major US banks to plead guilty to criminal charges in decades.
UBS is expected to avoid a criminal charge for its currency dealings after getting immunity for alerting authorities to a possible problem. But it faces a criminal charge over the rigging of benchmark (Libor) interest rates, two people familiar with the matter said. Libor is the average interest rate a bank has to pay when borrowing from other banks.
The Swiss bank made an agreement with the Department of Justice in its December 2012 Libor settlement not to commit more offences. It will also pay a $US200 million fine, the two sources said.
Barclays is also expected to reach settlements with other British and US regulators, which means its penalties could be significantly higher than the other banks and top $US2 billion.
Barclays has set aside $US3.2 billion to cover any forex fines, and other banks also have provisions for settlements.
Individuals at Barclays could also be held accountable if there is evidence of bad conduct, New York's banking regulator Benjamin Lawsky told Reuters on Tuesday, echoing a warning he made last week.
Britain's Financial Conduct Authority and some US authorities fined a group of six banks $US4.3 billion in November for forex manipulation, but Barclays did not join that deal due to complications with its regulator in New York.
The impact of guilty pleas by the parent companies or main banking arms of major banks is uncertain, and could jeopardise their US operations.
The banks are seeking assurances from US regulators they will not be barred from certain businesses if they plead guilty, several sources familiar with situation said.
The DoJ has been negotiating with the banks for months over how to resolve the forex allegations. Transcripts of online chat rooms made public in November showed how traders shared confidential information about client orders and otherwise conspired to benefit their own transactions.
The timing of a settlement could still slip if there is a last minute hitch.
Some authorities will continue to look at whether computer programs used in trading platforms could have rigged forex prices, which is likely to be excluded from Wednesday's deal.
No austerity for the rich and their private jets packed in at Las Vegas for Mayweather fight VIDEO
The Great British Mortgage Swindle trailer VIDEO
For anyone who thinks they OWN their home
What if you learned that every one of the 11.2 million mortgages in Britain is void and you had been swindled by the well-oiled con-artistry of a banker and a conveyancing solicitor?
Collective wealth of Britain's richest people more than doubled in last 10 years
Austerity used by the rich to syphon the wealth from the poor while they ignore the richest by far Britain's royal parasite
London-based Ukrainian businessman Len Blavatnik, whose empire includes the Warner Music Group, is the richest person in he country with an estimated fortune of £13.17 billion
The collective wealth of Britain's richest people has more than doubled in the last ten years, according to the Sunday Times Rich List.
This year's list found the wealthiest 1,000 individuals and families now have a combined fortune of £547.126 billion.
The figure has more than doubled since a total of £249.615 billion was recorded in 2005, despite the world economy being gripped by a punishing recession over much of the last decade.
Plain old millionaires increasingly struggle to count themselves among the mega-rich, with a fortune of £100 million now required to make it into the top 1,000.
That is £15m higher than last year's minimum, while in 1997 it took a personal wealth of 'just' £15 million to make the grade.
The list, which is published tomorrow, includes 117 billionaires, up from 104 last year. They account for a total wealth of £325.131 billion and 80 of them are based in London. It means the capital has more sterling billionaires than any other city in the world.
London-based Ukrainian businessman Len Blavatnik, whose empire includes the Warner Music Group, is at the top this year, with an estimated fortune of £13.17 billion.
He jumped from fourth last year after seeing his wealth rise by more than £3 billion, according to the list.
Mr Blavatnik took over top spot from brothers Sri and Gopi Hinduja, who were nudged into second despite their fortune rising by £1.1 billion to £13 billion.
Galen and George Weston and family, who run a retail empire including Selfridges and Primark, enjoyed a particularly prosperous year, with their wealth soaring by £3.7 billion to £11 billion.
Sir Richard Branson attends an Virgin StartUp and TEDCO Business Support event at the Northern Stage which was designed to inspire the next generation of local entrepreneurs Familiar Face: Sir Richard Branson is still in the top 25 wealthiest with a fortune of £4.1 billion
Not all those in the top 25 have seen their bank balances bulge, however.
Steel magnate Lakshmi Mittal and Chelsea Football Club chairman Roman Abramovich saw their fortunes fall by £1.05 billion and £1.23 billion respectively, the list claimed.
However, neither are likely to be sweating too much over their finances. Mittal and family are still worth an estimated £9.20 billion while researchers put Abramovich's fortune at £7.29 billion.
The list charts wealth including land, property, assets or significant shares but excludes bank accounts.
Here is a list of Britain's wealthiest 25 people, according to The Sunday Times Rich List.
1 Len Blavatnik £13.17 billion
2 Sri and Gopi Hinduja £13 billion
3 Galen and George Weston and family £11 billion
4 Alisher Usmanov £9.8 billion
5 David and Simon Reuben £9.7 billion
6 Ernesto and Kirsty Bertarelli £9.45 billion
7 Lakshmi Mittal and family £9.2 billion
8 Kirsten and Jorn Rausing £8.7 billion
9 The Duke of Westminster £8.56 billion
10 Roman Abramovich £7.29 billion
11 John Fredriksen and family £7.24 billion
12 Charlene de Carvalho-Heineken and Michel de Carvalho £7.145 billion
13 Sir David and Sir Frederick Barclay £6.5 billion
14 Hans Rausing and family £6.4 billion
15 Mohamed Bin Issa Al Jaber and family £5.935 billion
16 Carrie and Francois Perrodo and family £5.8 billion
17 Nathan Kirsh £5.06 billion
18 Earl Cadogan and family £4.8 billion
19 Nicky Oppenheimer and family £4.55 billion
20 Sir Richard Branson and family £4.1 billion
21 Bruno Schroder and family £3.76 billion
22= Mike Ashley £3.5 billion
22= Sir James Dyson and family £3.5 billion
22= Sir Philip and Lady Green £3.5 billion
25 Sir Henry Keswick and family £3.275 billion
Godfrey Bloom - The banking system is a criminal scandal VIDEO
Central Bank Scam Explains World Malaise
"This book provides insights as to how private bankers
since ancient times have...created money out of nothing
as an interest bearing debt in order to arrogate supreme
powers to themselves. It also provides a record, both
ancient and modern, of civilizations which have flourished
in an environment free from the burden of usury."
---Stephen Goodson (p.6)
By Henry Makow Ph.D
Here is a frightening thought. What if mankind were the highest expression of life in the universe? What if God pinned all His hopes on this craven, credulous monkey, man?
What if a powerful satanic cult hijacked the human race? Imagine it displaced God and enslaved the human race in spiritual, mental and physical bondage.
The cult did this by virtue of a very simple scam. It interjected itself between the state and its people by creating the medium of exchange (money) as an interest-bearing debt to itself. Money creation is something the State is perfectly capable of doing itself, without incurring any debt nor paying any interest.
This fundamental fraud is the explanation for almost everything that has gone wrong with the world.
In order to distract society from the real enemy gnawing at its heart, the central bankers have always created a series of phony enemies and unnecessary wars.
For example, Intelligence agencies (i.e. CIA, MI-6 and Mossad) are responsible for 90% of "terrorism." They created and financed ISIS and Islamic extremism as a bogeyman. Anti-terror measures (militarization of police, NSA surveillance, etc.) protect the credit monopoly, not the public. The emergent police state ensures that the "debt" is honored and interest paid. The people are collateral on trillions of dollars of "debt" i.e. the money supply.
In order to maintain the fraud, the bankers share the spoils with a whole class of society. First, they enlisted many of their fellow Jews. Then, millions of Gentiles under the rubric of Freemasonry (Jewish Cabalism, i.e. Satanism.) They enlisted the corporations, which they control. Education, the media and politicians complete the list of traitors.
Democracy is a charade. The West destroyed Libya and Syria. Has there been a word of criticism from "opposition" politicians or media? Passenger jet MH-17 was shot down. No further mention since our puppet, the Ukraine, did it.
The central bankers promote mass migration, miscegenation, globalism, feminism, homosexuality, diversity and pornography to divide, destabilize and degrade society. "We corrupt in order to control," Giuseppe Mazzini wrote. Thus they undercut the four legs of human identity: race, religion (God), nation and family (gender.)
Look at who promotes the "terrorist" scam and you see a society fundamentally subverted, a society in which the "ruling" class is in fact a colonial administration conspiring against the general public.
In denial, society suffers from a "Stockholm Complex." We hope our financial masters won't wreak too much havoc if we play along with their delusions. Oh yes, 9-11, Sandy Hook, Ottawa, Charlie Hebdo etc. etc. were all real "terrorist" acts. (Wink. Wink.) The media's role in perpetrating these hoaxes is especially repugnant.
Unfortunately, placating the banksters will result in more terrorism and war. If the past is indeed preface, our prospects are not good.
Most wars are fought to protect, consolidate and expand the bankers' fraudulent money monopoly.
The Bolshevik Revolution was a ruse by the Cabalist Jewish bankers to destroy the only remaining country that posed a threat to their worldwide credit monopoly. Created in 1860, the State Bank of the Russian Empire created money almost debt and interest free. Contrary to the image spread by the Masonic Jewish Western media, pre-revolutionary Russia was thriving.
Goodson writes: "In 1861, Tsar Alexander II (1855-81) abolished serfdom which at the time affected 30% of the population. By 1914, very little land remained in the possession of the Russian estate owners... 80% of arable land was in the hands of the peasants, which had been ceded to them for a very small sum." (p.78)
By 1913, Russia produced about 40% of the world's cereal crops and exceeded the combined production of Argentina, Canada and the US by 25%.
From 1890 to 1913, Goodson says industrial production quadrupled and Russian industries were able to satisfy 80% of internal demand for manufactured goods. From 1895-1914, the increase in Gross Domestic product averaged 10%. In 1912, Russia had the lowest rates of taxation in the world because it did not pay interest on fictitious debt.
"Throughout the period of state banking, there was no inflation and no unemployment," writes Goodson.
He continues: "On November 7, 1917, the Rothschilds, fearful that replication of this extraordinary example of freedom and prosperity would destroy their malevolent banking empire, instigated and financed a Judeo-Bolshevik revolution in Russia, which wrecked and ruined a wonderful country and resulted in the deaths by murder and starvation, according to Alexander Solzhenitsyn of 66 million innocent people." (p.83)
Communist leaders like Trotsky, Lenin and Stalin were nothing but front-men for the Rothschilds. Communism was portrayed as a peoples' revolution. In fact, it was the brutal destruction of a proud Christian civilization by a satanic Jewish cult ultimately dedicated to enslaving mankind.
The fact that their unspeakable crimes get only muted treatment in the West is further testimony that Western society is a mental and physical colony.
Western society has little credibility or moral legitimacy. But what about Putin's Russia? Certainly it has been cast as the defender of humanity against the NWO. Certainly everything the Russians say makes much more sense than anything emanating from Washington, Ottawa or the capitals of Europe.
But we must ask, would the Rothschilds destroy Russia only to let it slip out of their grasp? Not likely.
While most Russians may be sincere, I fear Putin is controlled opposition. (I hope I am wrong.) You need two sides to have a war and justify arms expenditures. Putin meets regularly with Henry Kissinger; Russia still has a Rothschild bank. As the Protocols of Zion said, "no one has arisen to oppose us without our consent."
At our current rate, mankind will never make its Divine Rendezvous with the Creator, especially since we're headed in the opposite direction.
Christians must stop being willing dupes and accomplices in their own destruction. The first step is to reject the psy op that is demonizing Islam and Muslims. It's more creation of a false enemy. I regret many "Patriots" have been duped. Most Muslims would prefer to stay in their own countries if they weren't destroyed by the Zionist-controlled West.
Christians, Muslims and honest Jews have to unite and focus on the real enemy, the Masonic Jewish (Illuminati) central banking cartel and its army of dupes, opportunists, liars and lackeys of all backgrounds.
In Goodson's words: "If we wish to obtain our liberation and sovereignty from the enslavement imposed by the private bankers, we must dismantle ...their central banks, or we ourselves shall be destroyed and consigned to oblivion." (p.6)
We must act like humanity is the highest expression of life in the universe. We have been a notable
success in material and technological terms. Now we must replicate that success in the realm of politics,
economics and culture.
Largest Theft Ever? Hackers steal at least $300millon from 100 banks VIDEO
Only in Glasgow a redirection to NO FEE cash machines
Pay gap scandal as chasm between rich fatcats and poor workers is laid bare
Figures show that since tory scumbag David Cameron became PM, most workers have seen their salary fall
by 8.4% in real terms while fatcats have enjoyed a 26% pay rise
The pay gap between rich and poor has expanded into a yawning chasm.
Not only are fatcats earning far more but millions of workers are actually worse off.
No wonder the PM said this week it’s time Britain got a pay rise.
Figures show that during the four years of David Cameron’s premiership top bosses’ pay has grown £700,000.
For most people over the same period inflation has eroded wages. They are £2,500 a year poorer in real terms.
This amounts to an 8.4% fall in salary, while fatcats earn 26% more.
One the biggest winners in the TUC report is Stuart Gulliver, bank chief exec of HSBC which is at the centre of a huge tax avoidance row.
But the pay inequality is also geographical, as our map of average wages show.
London becomes the biggest area, where workers earn an average of £831 a week, and the smallest is Wales where that figure falls to £528.
The worst paid workers in England are in Yorkshire and the Humber with a weekly average of £541.
Next lowest are in the North East (£545), followed by the South West (£549), the East Midlands (£552) North West (£552), according to the Office of National Statistics survey of hours and earnings.
In the West Midlands the average rises to £564, with the East (£585), Scotland (£591) and the South
The TUC found that average workers earn £27,195 a year but fatcats are on 123 times that amount.
Pay and bonuses of chief executives at the FTSE 100’s top firms has soared by £696,236 (26.3%) to £3.3million.
TUC leader Frances O’Grady squarely blames the Government, which cut the top rate of tax, for the widening pay gap since 2010.
Ms O’Grady, who today writes for the Sunday People, warned: “If the Tories get back in, things will only
The TUC figures, based on wage and inflation data between 2010 and 2014, will add to public anger over excessive City pay.
They reveal average wages for ambulance paramedics are down by 12.4%, primary schoolteachers by 13.4% and bus drivers 11.3%.
At the other end of the scale, the FTSE’s highest earning chief exec, WPP ad agency’s Martin Sorrell, is on £29.8million a year, according to the High Pay Centre.
He’s followed by holiday boss Peter Long, of TUI Travel, who pocketed £13.3million, ITV chief Adam Crozier (£8.3million) and Stuart Gulliver (£8million).
The figures have been released as part of the TUC’s Fair Pay Fortnight, which starts on Monday and focuses on low pay and falling living standards.
In comments slammed by critics as a pre-election stunt, Mr Cameron last week told company bosses that they should give their staff a pay rise in the coming months.
He said plunging oil prices and the strong pound meant it was time for companies to “pass on the good economic news to their workers”.
But the Tory PM said there would be no extra cash for millions of public sector workers whose pay has been held below inflation.
Deborah Hargreaves, of the independent High Pay Centre, which monitors executive pay, said: “We have calculated that a FTSE 100 boss makes more money in two days than someone on average wages takes home in the entire year.”
She said: “That means it would take someone on average wages 160 years to earn as much as a top boss gets in just a year.
“We shouldn’t forget that everyone in a company contributes to the success of that company and not just the person at the top.
“And yet, many working people still rely on government tax credits or benefits to get by.”
Activities during Fair Pay Fortnight, part of TUC demands for a higher minimum wage and improved pay settlements in the public and private sector, include wage summits and public meetings to raise awareness about wage inequality.
Other chief executives named by the High Pay Centre include Prudential boss Tidjane Thiam, who got £8.6million, and BP’s Bob Dudley, who was handed a £7.6million pay package.
At the same time the average pay of a supermarket checkout worker dropped by 7.7% – around £1,163 a year – while a lorry driver’s income slumped 8.1% – or £2,300.
Supermarket worker Su Patel, 53, has used all her savings to pay bills.
She has not had a holiday in years or a pay rise since 2007.
She earns £12,000 a year and has to walk to work as she cannot afford to take the bus.
A spokesman for WPP boss Sir Martin Sorrell said: “Over 90 per cent of what is in the £29.8million is related to the company’s performance over five years.”
He said it included long-term incentives and other awards. His basic salary last year was £1.15m.
Other companies named by the High Pay Centre declined to discuss their bosses’ pay awards or failed to respond to requests to comment.
Ms O’Grady added the living standards of workers have taken a hammering while boardroom pay has soared.
She said: “Since David Cameron became Prime Minister, the average wage is worth £2,500 less a year – the worst fall in living standards since Queen Victoria.
“But it’s been a different story for those at top. While millions of hard-working families have been forced to make do with less, City executives have become ever more feather-nested.”
The top 10 fatcats
Martin Sorrell, WPP, £29.8m
Peter Long, TUI Travel, £13.3m
Ian Gorham Hargreaves, Lansdown, £10.6m
Don Robert, Experian, £10.1m
Tidjane Thiam, Prudential, £8.6m
Michael Dobson, Schroders, 8.4m
Adam Crozier, ITV, £8.3m
Stuart Gulliver, HSBC, £8m
Bob Dudley, BP, £8m
Angela Ahrendts, Ex-Burberry, £8m
David Cameron really does have some brass neck.
Last week the Prime Minister was telling business that Britain needs a pay rise.
But on his watch the average worker has lost out by £2,500 a year – the worst fall in living standards since Victorian times. And if the Tories get back it will only get worse. They plan to slash spending on public services to 1930s’ levels, comparatively.
Real wages for nurses, dinner ladies and other public sector workers would be cut every year. And bad bosses will have free rein as strikes become nearly impossible.
Mr Cameron claims he wants ordinary people to have a “fair share” of the cake. But that beggars belief when greedy corporations and tax dodgers can grab what they like.
He seems to spend more time rubbing shoulders with the wealthy at fundraisers, where prizes like pheasant shoots are auctioned off for thousands, than listening to working people and their unions.
The past five years have been great for City fatcats. Top bosses’ pay has skyrocketed while millions of hard-working families are worse off. It’s time for change.
We need a government that delivers decent jobs and living standards. It’s the least working people deserve.
After all, they create the wealth in the first place.
Controlled media encouraged the sheeple to hate 'scroungers' the real cheats were banks and its customers
The so called scroungers like those in Benefits Street are small fry compared to the super rich encouraged
to get away with millions by the banks.
So while we were all sat on the sofa gawping at Benefits Street and frothing at the mouth at fat trollops getting gastric bands on the NHS, the real criminals were getting away with the crime of the century - totally unnoticed.
This week we learn that HSBC offered its super-rich customers secret accounts that could be used to avoid paying tax in Britain.
While we were whipped into a moral frenzy over White Dee creaming off £200 a week benefits, one of Britain’s biggest banks was helping rip the country off for millions and millions of pounds.
This on the coat tails of a raft of footballers, politicians, and celebrities finally being picked up by the Inland Revenue for “investments” in film companies to avoid paying more millions in tax.
And that, of course, coming after big businesses – Starbucks, Amazon, Google and the rest – doing their damnedest to avoid paying tax on the billions of pounds of profits they earned in Britain.
All this handily overlooked by those in power, who are either incapable or incompetent at making anyone with a few quid fill in a tax form. And hopelessly ignored by the incompetent HMRC, which after being informed about the secret Swiss accounts scandal five years ago launched a half-hearted investigation which recouped just a drop in the ocean of the missing millions.
So while HMRC happily puts out ads saying they’re coming for YOU if you’ve been earning £50 on the side with a bit of painting and decorating, they seem not to give two hoots if you’ve got gazillions stashed away in Geneva.
Once again we wake up and smell the fetid stench of reality. We, the great British public are treated like cretins by those with money and influence. They laugh at us from their ivory towers while our society is slashed and burnt.
Our hospitals are in crisis,our old people are getting just 15 minutes A WEEK home care, our services for the disabled and lonely are being dismantled. Libraries are shut, police are cut, former soldiers are ignored, meals on wheels canned, kids’ speech therapy abandoned.
Because there’s no money left. Except there is – but it’s locked in a big vault in Switzerland.
None of this is complicated. It’s not about being anti-big business. I’m all for people being encouraged to build and grow firms which employ workers and boost the economy.
But all those successful business people have built their success on a state which has educated their workers, provided roads for transporting their goods and kept them secure from crime.
Whether big businesses and the super-rich like it or not, they are part of our society and they have a duty to contribute fully towards it. We all do.
To dodge that responsibility is utterly reprehensible.
Tax goes back a long way. All the way to the Bible, where it says in Romans: “This is also why you pay taxes... for the authorities are God’s servants. Give to everyone what you owe them: If you owe taxes, pay taxes; if revenue, then revenue; if respect, then respect; if honour, then honour.”
Too many of our super-rich, aided and abetted by those in power, just don’t give us the tax we’re due. And they don’t give us the respect or honour either.
They’ve treated us like mugs. And laughed at us as losers for playing by the rules.
If we don’t demand it stops here and get a government that will make it stop they’ll carry on laughing.
And we’ll carry on losing.
Another economic crash is coming. How did this happen? VIDEO
Report shows "gross inequality" plaguing Britain VIDEO
Against Austerity VIDEO
Bailiffs trying to evict cancer-stricken father forced to retreat after 500 strangers form human blockade
For any man facing divorce this is an all to common occurrence of enforced eviction from homes on the back
of orders dished out by crooked freemason judges and lawyers with the masonic cops aiding and abetting the bailiff
thugs charged with forcing innocent victims of house theft onto the street.
This is the moment when bailiffs trying to evict a cancer-stricken father were forced to retreat after 500 strangers formed a human blockade around his bungalow.
Tom Crawford, 63, has been battling the bailiffs over claims he still owes £43,000 in outstanding mortgage repayments.
Last July more than 300 strangers successfully stopped enforcers from turning up at his three-bedroom home in Carlton, Nottinghamshire, after he begged for help on YouTube.
And today - exactly six months after the first eviction attempt - they were forced to abandon plans to turf him out of his home where he has lived for 27 years.
It follows bailiffs serving a second eviction notice on Mr Crawford last week which ordered him to vacate his property by 10.30am today.
Supporters, many donning the grandfather-of-two's trademark straw hat with the words 'I am Tom Crawford' written across it, began congregating in the road before 7am.
A white transit van and black Mercedes containing bailiffs arrived at 11am but were unable to reach the bungalow.
After a brief stand-off, the bailiffs retreated, to cheers from the 500-strong crowd who had travelled from across the country to support the Crawford family.
Mr Crawford, who retired from fitting carpets due to ill health two years ago, said: 'I am humbled by all the people here.
'There are not enough words in the English Dictionary for how I feel. There were about 350 people here last time and I think there may be more now.
'All I did was make a little video about what was happening to us and people supported it, but then they came banging on my door again seven days ago.
'They threatened my wife and we told the police but they won't do anything.
Tom Crawford speaks out about the support against the bailiffs
'The bailiffs didn't turn up during the last protest, so you could say they bottled it.
'What they are doing is totally unlawful, so we want the bailiffs to come so we can arrest them.
'The solicitors haven't even paid a fee to start all this stuff off. There is no order for a warrant because no judge will put his name to it.
'The bailiffs follow what they are told by the court, and the court follow what the solicitors say, and the solicitors follow what the bank is doing.
'We moved in to this house in 1988 and we have paid three times the value of the house.
'We have probably put £125,000 towards this place or something like that, I have never worked it out exactly, but why do they want more?
'There is no money left so banks are going after property because they know property is a tangible asset.
'For my wife, Sue, to get woken up at 5am by a bailiff banging on the door shouting at her is wrong.
'The bailiffs have just come along but won't show us the documents. There were huge guys inside the vans and we don't get people like that round here.'
UK Asset Resolution Limited confirmed they would now be seeking legal advice.
But Mr Crawford, who has prostate cancer, declared he would 'rather die' than move from his home.
He said: 'I will never leave my home. I know I am in the right. I would rather die than leave.'
He and his wife Susan, 54, took out an endowment mortgage with the now defunct Bradford and Bingley to buy the bungalow for £41,800 in 1988.
He and Susan, who works in market research, paid £300-£400 in monthly mortgage repayments and expected to own the property when the mortgage came to an end in 2013.
But he claims the bank told him 2007 that he would never pay off his mortgage because there was no record of him taking out the endowment mortgage.
He then says a bank manager assured him this was incorrect and even sent his wife champagne to apologise for the blunder.
But soon he was embroiled in a court battle over the mortgage, which he says the bank converted into an interest only loan without his knowledge.
Bradford and Bingley was nationalised in 2008 during the financial crisis with the main banking section being sold to Abbey National while existing mortgages remained in public control.
Supporters, who made t-shirts, said Mr Crawford has done 'nothing wrong'
Supporters also put posters in their car windows
Supporters, who have made t-shirts and banners, said that Mr Crawford has done 'nothing wrong'
Mortgages are now collected by UK Asset Resolution Limited which was set up by the Government.
The Crawfords have three grown-up children, daughters Amanda Pike, 35, and Nicol Crawford, 34, and son Craig, 30, who works in internet marketing.
'Having all these people here is amazing,' said daughter Amanda Pike.
'It's just scary that a judge won't listen so what else can we do? We will keep fighting.
'My mum and dad have paid for this house and that's the end of it. They have the proof.'
Supporters travelled from across the country to support the family after viewing Mr Crawford's latest video outlining his situation on YouTube.
Luke Smith, 25, a chef from Leicester, said: 'The recession has crippled so many people and they are taking it out on everyone.
'In the long run I want to see a lot of change. I think the bailiffs might come back tomorrow when we are all gone.'
Eric Banner, 30, who lives in the Sherwood area of Nottingham and works for a catering firm, said: 'What has happened to Tom is a complete injustice.
'He is a nice old bloke who pays his bills and has done nothing wrong, so we are all sending a message to the bailiffs that we are 'the force', not them.'
Frank O'Neill, 51, travelled 120 miles from Liverpool, and slept in a van overnight to make sure he was at the protest.
'My friend and I got here and slept in our van in a pub car park,' he said
'We brought a stove so have been making mugs of tea for people.
'It took three hours to get here, so we are fighting the bankers. We will go home again after this finishes but we were right to come and represent Tom Crawford.'
Tim Fleming, 69, is a charity worker who travelled up from Twickenham in London this morning, said: 'It took me three hours to get up here this morning, and then I had organised to meet about 20 people when I got here.
'It is important to come and support Tom because it could be me tomorrow.
'People are wishing up but we need to educate them about it. We won't be beaten, we have no fear.'
A spokesperson from Nottinghamshire Police said: 'This remains a civil matter. We will attend to ensure there is no breach of the peace but it is in the hands of the bailiffs.'
UK Asset Resolution Limited (UKAR) confirmed the eviction was called off due to 'safety concerns'.
A spokesman said: 'Repossession is always viewed as a last resort and follows a series of forbearance options, with the aim of finding a solution that takes account of the customer's specific circumstances.
'Regrettably, in this instance, we have been unable to find a solution.
'Bradford & Bingley has followed proper legal procedures and is now legally entitled to take possession of this property following the ruling by the Court and the Judge.
'We have a valid possession order that is enforceable.
'The eviction today has been called off on the advice of the police due to safety concerns.
'We will now discuss this matter with our legal advisors and the Court to determine the most appropriate next step.'