A mad system that needs sorting out!

Workers' Fight workplace bulletin editorials
30 June 2008

Since January, 37,740 households have faced court action from lenders, for failing to keep up with their bills. This is a 20% increase on the same period last year and a measure of how hard the financial crisis is hurting.

A number of these court actions will lead to repossessions. Many of these households will join the 30,000 already in temporary accommodation due to homelessness. This will add to a backlog which, despite local authorities' statutory duty to find permanent rented accommodation for the homeless, has never really gone down. And it is unlikely to go down soon, since Brown's pledge to build 3 million decent affordable homes by 2020 - which will be too little too late anyway, compared to growing needs - has not even begun materialising.

This is 21st century Britain. And despite it being one of the richest countries in the world, its capitalist system is not even capable of providing a roof for everyone, let alone a decent life.

But, as we are told all too often, there is still worse to come. This week, papers say that finance companies plan to shed at least 10,000 jobs this summer, doubling the number of jobs gone in this industry. But make no mistake: these jobs are not those of over-paid financial whizz-kids, who can afford to be off pay and still enjoy a comfortable life. No, they are mostly low-paid back-office jobs, held by people who cannot afford to miss even a month's wages to pay their bills, because in this society, it is always the poorest who are the most "dispensable".

These job cuts will add to the thousands already gone in construction, in anticipation of a "hard-landing" for the housing market. Yes, in this mad society, thousands of building workers are thrown on the junk pile, when so many need a decent home to live in!

Not everyone has to worry, though. A little-known "World wealth report", published every year by two big finance companies, shows that despite the crisis, or thanks to it, the world's wealthy managed to get even richer over the past year. The 10 million individuals who own more than £500,000, increased their assets by 6%. For the first time, their collective wealth is larger than the total value produced on the planet over a whole year! And the 100,000 individuals who own more than £15m saw their assets increase by 14.5%! The richer you are, the richer you get!

But all of this means that contrary to all the nonsense we are being told, despite the present crisis, the world has not suddenly gone poor. It is just that yet more wealth is being concentrated in the hands of the same tiny parasitic minority which has caused this crisis in the first place. And if we, the working class of this country do not want to foot the bill for their crisis, it is this wealth that we will have to reclaim from the parasites!