Posts Tagged ‘inequality’

Is this an accurate portal of Trumpean future? How did we reach a stage where socio-economic equality has become a secondary priority to nationalism? I understand that the recent western anti-establishment movement seemed initially to fight for the “people” or the ordinary worker. However, I feel that those people have become deliberately detached from this initial message and have taken arms against the rise of the ‘SJW’. This isn’t particularly directed at the populist Alternative Right, but more about the source for this divisive atmosphere that has captured today’s political culture. What happened to discussions of ‘equality of opportunity’, what happened to idea of taking on the Big Banks and Wall street? Whilst there was a movement that was mobilised around social mobility, this has gradually been replaced by a rhetoric that justifies the inflated wealth of the elite.

This is particularly reflected in Trump’s decision to repeal the Dodd-Frank Act (the piece of legislation that regulated the Banks after the 2008 financial crisis). In his own words ‘We expect to be cutting a lot out of Dodd-Frank, because frankly I have so many people, friends of mine, that have nice businesses and they can’t borrow money … They just can’t get any money because the banks just won’t let them borrow because of the rules and regulations in Dodd-Frank. So we’ll be talking about that in terms of the banking industry,’. Does this sound like a man who is using radical measures to fight the establishment? It is clear that a vast section of Trump supporters have adopted a blissful ignorance to the fact that Trump is a product of a broken system. A system that seeks to protect the lucky winners of the banking and finance industry, whilst the losers – primarily those middle income earners whose mortgages were  devalued by the banking crisis, that Trump is meant to appeal to – are left a heavy financial burden to fix the economy.

winners-and-losers

Which one will you be?

One could also argue that here in Britain, any discussion of the economic consequences of Brexit have been minimal with immigration concerns remaining dominant. But there is emerging evidence that certain MPs who backed Brexit, were not doing so to restore ‘power to the people’. Earlier last week, brexiteer Kwasi Kwarteng spoke to RT and was reluctant to criticise the sanction scheme for British welfare, but seemed quick to defend the ‘bail-out’ of the banks based on the reasoning that ‘if the banking sector fails, everything fails’. This wilful negligence to acknowledge the contribution of the working classes to the economy is indicative of the way the conservative party are ensuring that Brexit works for the establishment. The big question here is, how we the public respond to this manipulation of public opinion.

Jeremy Corbyn has warned us about the dangers of Britain becoming an off-sure tax haven for the rich. “Theresa May has dangled the threat of turning Britain into a bargain basement tax haven….Far from taking back control, that would mean an assault on our public services, our standard of living and our quality of life.” As Disraeli said back in the 19th century, this would create a two nation England, where the corporations would reap the benefits of less financial red tape and the losers will suffer from a poorly funded public services.

Brexit and Trump were meant to deliver an eagerly awaited revolution that could potentially transform the relationship between ‘people’ and authority. Instead of focusing on ensuring that that revolution is realised, the populace in both America and the US have become distracted by the May’s and Trumps ill-thought immigration strategy. This is not to say that immigration is not an important discussion, but I believe it is being used as a smokescreen so that the ‘establishment’ can realign themselves on the right side of these populist results. It is our responsibility to make sure that we hold these outcomes to account and not to be distracted by sensationalist headlines.

 

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