By Henry McRandall
Every stock market in the world opened
on a significant high this morning as the Top One Percent of income-earners celebrated the new round of extreme suffering they have just managed to impose on the Other 99 Percent in poor, beleaguered Greece.
“Il faut feter ca,” is an exclamation heard daily in francophone Quebec as the most boisterous of North Americans get ready to celebrate something, anything.
But the traditional, triumphant boisterism of Quebecers has been surpassed in the past 30 years by the screeching cacophony emanating from the lavish quarters of the Top One Percent every time a new round of suffering can be thrust upon some portion of the Other 99 Percent – the poor, the working class and the middle class – somewhere, somehow. Today it’s Greece.
Old-age pensions are being slashed by 20 percent and the minimum wage is being slashed by at least 20 percent and possibly as much as 40 percent. In addition, at least 15,000 more Greek civil servants are being dumped onto the trash heap.
And these are just the latest in a litany of so-called “austerity” measures that have been heaped upon the Greek masses just to feed the insatiable greed of the global gangster banksters.
Moreover, the savage “austerity” measures that Greece’s puppet political prostitutes are eager to impose upon the poor, the working class and even the middle class in order to aid and abet the most humongous swindle ever perpetrated by the Top One Percent is certainly not unique to Greece.
Who will it be next – Portugal, Ireland, Spain, Italy, or the United Kingdom? And which will be first in North America – the United States or Canada?
Even a cursory glance at economic history shows that every economy in the world – including those of the United States, Canada and the United Kingdom –has always done best when the Top One Percent’s share of total income was at its lowest and its tax rates were their highest.
In fact, no economy in the world has ever done better than when the Top One Percent received less than six percent of the whole economic pie and when its marginal tax rate was at 98 percent.
Today, the Top One Percent – in the U.S., in Canada, in Europe and in the world – gobble up about 22 percent of the total income pie and only pay about 15 percent in taxes.
So while the already immoral and inordinate wealth of the Top One Percent has grown by leaps and bounds during the past three decades of global Reaganomics, the Other 99 Percent has been gradually and continually squeezed.
Unable or unwilling to use the TRILLIONS of dollars of cash reserves they are just sitting on to create new jobs and new wealth, the Top One Percent have now engaged their puppet political prostitutes in one final effort to bleed the masses of the western world dry.
Some of the poorly informed may be duped into thinking that the emergence of a new middle class in the BRICS (Brazil, Russia, India, China and South Africa) will somehow compensate for the impoverishment of the middle class in the western world. But it will not.
The middle class that is slowly emerging in the BRICS countries is and will remain much poorer than the middle class that is being destroyed in the western world.
And unless the masses – the Other 99 Percent – the poor, the working class and the middle class – in the rest of the western world heed the wake-up call from Greece and unite as one – regardless of race, colour, creed, language, ethnic origin, gender, sexual orientation, age, or physical or mental disability – against the Top One Percent and take back what has been stolen from them in the last 30 years, then the awful suffering beginning to unfold in Greece will soon spread across the western hemisphere.
The Top One % celebrates Greek tragedy
By Henry McRandall