Nick Cohen has written an outstanding article in the Guardian today (3 July 2011) that encapsulates the epochal change that has recently taken place in the country. It defines the momentous historical transformation we have undergone in a more concise and explicit manner than anything else I’ve read on the subject. It is one of those articles that so effectively communicates the undeniable logic of its arguments that the reader is left boiling with rage at the stupidity and crassness of the individuals it targets. Here are some excerpts, however I strongly recommend you read the piece in full:
The Resolution Foundation estimates that people on low to middle incomes would have to save 5% of their take-home pay for 47 years to obtain an average deposit for a first home.
Britain may once have been close to a property-owning democracy, but it is becoming a property-owning oligarchy.
When you point out to people in the City that the old market justifications for their salaries no longer make sense, and they are failures sustained by other people’s money, they are astonished. “Look at my beautiful new house, my beautiful new car, my beautiful new wife, I’m not a loser.” Indeed not.
I don’t have any words of wisdom to add to the debate, but if you want to find out what it’s all about look at the comments as well as the article. In essence , the social contract has been broken and will never be fixed.
Nick Cohen, ‘Greed is still good for Britain’s elite. The people continue to bail bankers out. Isn’t it time there was a real challenge to these undeserving rich?’ The Guardian, 3 July 2011. View it online: