By Harvey Oberfeld
Keeping It Right…
July 20th, 2016
History will tell the full story of the 2016 in a way the news media have not … even though the truth is CLEARLY easy to discern.
The middle class, the working class and the poor … right across the world … have finally had enough of the broken promises, failed projections and downright lies the politicians, corporate executives and, yes, much of the media have peddled to us for 20 years about the benefits of a world-wide “global” economy.
It COULD have happened …but it didn’t because of the GREED of those at the top.
I am NOT … and never have been … against the idea of expanding global international trade: in fact, I believe(d) it could actually help raise the standards of living of so many millions of desperately poor people of the Third World countries, providing jobs reducing poverty, improving health and education.
And I always understood that the way to do that was to allow resource-poor countries to take on clothing and other mass manufacturing functions, some call centre services and recycling functions etc … giving people there much needed work and, yes, benefitting those of us in developed countries with less expensive products in return.
It COULD have happened …but it didn’t because of the GREED of those at the top.
Globalization HAS worked … financially … in expanding world trade, increasing exports, lowering prices on imports. increasing efficiencies and MULTIPLYING PROFITS by the BILLIONS of dollars, and Pounds and Euros and Yen and Yuan.
US exports (despite the gloom and doom picture painted by some politicians, have QUINTUPLED over the past 20 years; Canada’s have more than doubled; and UK/EU trade has also flourished.
But almost ALL the financial benefits of globalization have been siphoned away … some would say stolen … by those in charge: politicians; their friends, families and business partners; company principals; top executives; contractors; shareholders; corrupt bureaucrats; tax lawyers; specialized tax accountants and others on the “inside” track.
WORKERS … the people who actually PERFORM the labour that produces the wealth … have seen very little and, in some places, virtually none of the riches and revenues world economic globalization have produced.
In fact, study after study … for more than a decade … have PROVEN how the rich ARE getting richer…and, yes, the poor have been getting poorer.
And I am NOT talking about the unemployed, those on pensions, those on welfare or the homeless etc.
I am talking about those WHO DO THE WORK all around the globe … for VERY SUCCESSFUL resource or manufacturing companies, high-tech conglomerates, banks, retail and marketing corporations that measure PROFITS in the MILLIONS or HUNDREDS OF MILLIONS or even BILLIONS … but aren’t paid FAIR (in many places, even survival) wages; or can’t even get 40-hour week employment; or seldom see raises each year (even a production and sales and exports GROW) … and then when they do get wage increases, often get only 1% or 2%, actually LOSING ground each year … NEVER sharing FAIRLY the bounty from global expansion THEIR labour has produced.
It COULD have happened …but it didn’t because of the GREED of those at the top.
So not only is buying even a small condo now impossible for so many, (not just in BC, but in many parts of the U.S., the U.K., Europe, Japan etc.), while rents rise at much faster rates than incomes, as do taxes, BC Hydro, ICBC, MSP and even basic food prices … taking away MUCH more than any piddly wage increase they’ve seen.
Because those in the top 5% … with the connections outlined above … have taken it all for themselves!
So the REVOLT IS ON …. right across the Western world!
Those in the U.S. supporting Donald Trump are not just bigots or ignoramuses: MANY are hard-working people who know THEY have been left behind …and want “in” again.
In the UK, support for Brexit went beyond xenophobia …working Brits have been squeezed for decades … and are now fighting back.
In the EU, workers in many countries have also seen their standards of living drop, while costs, taxes and service fees rise …. perfect conditions for scapegoat politics that always rears its head in tough economic times.
And, even in Africa and Central and South America, there are increasing incidents of revolts, rebellions, crime and even violence from working masses … tired of living on less and less, where huge development contracts were signed, while EXPORTS of their resources (especially to China) have risen MULTI-FOLD, but where the bosses, the politicians, corrupt officials and all their families/friends have grown rich.
But the revolt is now on! (Although the media have yet to put the full global picture together.)
Globalization is the target … workers of the world are arising … even it ultimately kills free trade deals, brings back import tariffs, causes higher prices and even a recession.
But don’t blame the workers … or the possibilities globalization could have produced.
It COULD have happened …but it didn’t because of the GREED of those at the top.
Harv Oberfeld
Good article Harvey,it will make its way here,and all the selfies our PM does will not helpThank God for Michael Campbell telling it to us straight.
I love this article but sadly there will be no revolt in Canada. We will all sit in front of our $500 flat screen TVs and watch sports. We workers are all slaves and there are no real leaders to pull off real change, at least none that won’t back down once offered a slightly higher wage.
I am lucky and have a lot of contacts in the Real Estate and Investment Industries. To cut to the quick, Harvey has sussed out what is going on.
The Generational rip off of the masses, is going to get very greasy and ugly, and who knows how it will turn out.
Idiots in Vancouver, have placed money on Real Estate that is the most over priced on Earth…and they do it on margin. Soon as the rates rise, say goodnight Eddie.
I just read today, that many American experts say that Canada’s coming Housing Crash is going to be epic. When people realize how broke they are (*you have to pay back that Mortgage, even if you are bankrupt, in every Province except Quebec and Alberta – where you can walk from your Mortgage) – they are going to be really hacked.
“With people that have ing nothing left to lose, lose it”.
I don’t like that I see. Head’s up.
Well done Harvey – cheers.
Well said Harvey. Kudos to the comment writers as well.
From what I’ve seen (and not on the mainstream nets either because it’s an inconvenient truth for them), the bigots and ignoramuses have actually been supporting either Sanders or Hillary, just as they did Obama the last few years.