Chronic Capitalism
Public works projects, health services, and even security and defense in the U.K. are being contracted out, privatized and entrusted to private corporations. Taxpayers' money is being paid into private hands to carry out public projects and services, ostensibly in the public interest through the entrepreneurial agency of their elected government. However, private corporate shareholders and managers seem bent on ensuring they take fat management fees, salaries, dividends and bonuses before any actual work or service is provided to the general public!
As with recent spectacular bank failures, taxpayer money has gone to support failed banks while their managers and owners have insisted on keeping fat salaries, fees and bonuses! G4S were paid to manage and carry out security services for the London 2012 Olympic Games, but the U.K. Army were brought in when G4S claimed they were unable to carry out what they'd been paid to do. However, they still insist on keeping management fees for their failed service!
There have been complaints about this corporate hijacking of public taxpayer money, especially as the bank and utility services concerned have not provided efficient or cheap services to the public. Rather their prices have generally risen while their services have deteriorated!
Essentially, what is happening can be called a "super-financial sewerage-system", or read "stinking corruption", as enormous quantities of public money are being transferred from a generally unaware, hijacked public through government collusion into FAT private hands!
Examples of this "super-financial sewerage-system" can be found globally. However, it appears to have "developed" in its present form through Anglo-Saxon business practices and government influence notably in the U.S.A. and the U.K.
Vicente Fox worked as a local distributor for Coca-Cola in Mexico from 1965, rising to assume presidency of its Latin American division within only eleven years to become the transnational corporation's youngest ever chief executive. He then became President of Mexico from 2000 to 2006. Coca-Cola had meanwhile gained give-away concessions for water resources in Mexico where it runs one of its most profitable operations at the expense of the local population's water resources and health.
Carlos Slim, allegedly the world's richest man, made much of his fortune through crony capitalism in Mexico. Free to operate Telmex as a monopoly using his close ties to the ruling PRI party his business profited at the expense of the Mexican people. Telmex provides one of the worst connection rates in the world, while its telephone service charges are among the world's highest. Telmex's profit rate of over 40% gave a substantial boost to Slim's personal wealth.
Not until August 2011 did Mexico's antitrust watchdog, Cofeco, begin to stir.
The rich are enriching themselves beyond even the wealth of some nations in this "super-financial sewerage-system", in which governments collude with corporate interests in the transfer of national resources, public services and taxpayers' money into private hands. Of course, Peter public and poor Pablo are in a tough position to complain as their water, utility, telephone and security services, in private and not in public government-servant hands, may be cut off at any time! Their elected government servants have gone and taken their taxes and sold them out instead of serving them directly with the services they need!
You need to be left with your own thoughts on this "super-financial sewerage-system". Will you be paying your share of taxes to a government which abuses your contribution in this way?
Taxpayers will have to dig deep to pay for London's £3.6bn 'super sewer'
The bank failures of 2008 were merely a means to destroy the remnant of public service provision within the western democracies. Carried out by that Presbyterian 'honest broker' Brown, at the behest of Bilderburg he managed to obtain a consensus of support for international banking when the opportunity was there for a complete renewal of socialism with public financing of public works as with the American 'New Deal' of Roosevelt and the pre expansionist German National Socialists.
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