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'Put that down, cancel that': the Guardian tracks Philip Green to Monaco | Business | The Guardian
Philip Green
another big employer with a nearly a billion-pound pension deficit, which might mean the gov had to bail the scheme out.

https://www.theguardian.com/business/2019/may/23/philip-greens-retail-rescue-plan-torpedoed-by-pension-watchdog - Philip Green's retail rescue plan at risk over pension scheme

24hrs later - 60 stores close incl USA, less pension contribution, less pension payout, lowered rents for existing stores, still to be agreed.
- restructuring
https://www.bbc.co.uk/news/business-48406854
Philip  Green  Arcadia  1%  tax  evasion  avoidance  Retail  crisis  highstreet  pension  deficit  bailout  scheme  greed  plutocracy  DonaldTrump  Donald  Trump  Brexit  oligarchy  Aristocracy  inequality  poverty  trap  minimum  wage  working  poor 
3 days ago by asterisk2a
If you’re so smart, why aren’t you rich? Turns out it’s just chance. - MIT Technology Review
Obvious model yields obvious results? But I think you can probably bake almost any result into the parameters of the model that's broadly described here. Need to look at the original paper.
economic-inequality  statistics  simulation  economics  plutocracy 
8 days ago by absfac
Noam Chomsky takes ten minutes to explain everything you need to know about the Republican Party in 2019 / Boing Boing
"Amy Goodman from Democracy Now interviewed linguist and political philosopher Noam Chomsky and asked him to explain Donald Trump; in a mere 10 minutes, Chomsky explains where Trump came from, what he says about the GOP, and what the best response to Russiagate is.

Chomsky lays out the history of the GOP from Nixon's Southern Strategy, when the party figured out that the way to large numbers of working people to vote for policies that made a tiny minority of rich people richer was to quietly support racism, which would fuse together a coalition of racists and the super-rich. By Reagan's time, the coalition was beefed up with throngs of religious fanatics, brought in by adopting brutal anti-abortion policies. Then the GOP recruited paranoid musketfuckers by adopting doctrinal opposition to any form of gun control. Constituency by constituency, the GOP became a big tent for deranged, paranoid, bigoted and misogynist elements, all reliably showing up to vote for policies that would send billions into the pockets of a tiny rump of wealthy people who represented the party's establishment.

That's why every time the GOP base fields a candidate, it's some self-parodying character out of a SNL sketch: Michele Bachmann, Herman Cain, Rick Santorum, etc. Every time, the GOP establishment had to sabotage the campaigns of the base's pick, until they couldn't -- Trump is just the candidate-from-the-base that the establishment couldn't suppress.

You can think of the Republican Party as a machine that does two things: enacting patriarchy and white supremacy (Trump) while delivering billions to oligarchs (McConnell, Paul Ryan, etc).

Then Chomsky moves onto Russiagate: Russian interference may have shifted the election outcome by a few critical points to get Trump elected, but it will be impossible to quantify the full extent and nature of interference and the issue will always be controversial, with room for doubt. But campaign contributions from the super-rich? They are undeniable and have a massive effect on US elections, vastly more than Russian interference ever will (as do election interventions of US allies: think of when Netanyahu went to Congress to attack Obama policies before a joint Congressional session right before a key election): "The real issues are different things. They’re things like climate change, like global warming, like the Nuclear Posture Review, deregulation. These are real issues. But the Democrats aren’t going after those."
Well, why did that happen? It happened because the Republicans face a difficult problem. They have a primary constituency, a real constituency: extreme wealth and corporate power. That’s who they have to serve. That’s their constituency. You can’t get votes that way, so you have to do something else to get votes. What do you do to get votes? This was begun by Richard Nixon with the Southern strategy: try to pick up racists in the South. The mid-1970s, Paul Weyrich, one of the Republican strategists, hit on a brilliant idea. Northern Catholics voted Democratic, tended to vote Democratic, a lot of them working-class. The Republicans could pick up that vote by pretending—crucially, “pretending”—to be opposed to abortion. By the same pretense, they could pick up the evangelical vote. Those are big votes—evangelicals, northern Catholics. Notice the word “pretense.” It’s crucial. You go back to the 1960s, every leading Republican figure was strongly, what we call now, pro-choice. The Republican Party position was—that’s Ronald Reagan, George H.W. Bush, all the leadership—their position was: Abortion is not the government’s business; it’s private business—government has nothing to say about it. They turned almost on a dime in order to try to pick up a voting base on what are called cultural issues. Same with gun rights. Gun rights become a matter of holy writ because you can pick up part of the population that way. In fact, what they’ve done is put together a coalition of voters based on issues that are basically, you know, tolerable to the establishment, but they don’t like it. OK? And they’ve got to hold that, those two constituencies, together. The real constituency of wealth and corporate power, they’re taken care of by the actual legislation.

So, if you look at the legislation under Trump, it’s just lavish gifts to the wealth and the corporate sector—the tax bill, the deregulation, you know, every case in point. That’s kind of the job of Mitch McConnell and Paul Ryan, those guys. They serve the real constituency. Meanwhile, Trump has to maintain the voting constituency, with one outrageous position after another that appeals to some sector of the voting base. And he’s doing it very skillfully. As just as a political manipulation, it’s skillful. Work for the rich and the powerful, shaft everybody else, but get their votes—that’s not an easy trick. And he’s carrying it off."

[Full interview: https://truthout.org/video/chomsky-on-the-perils-of-depending-on-mueller-report-to-defeat-trump/
https://www.democracynow.org/2019/4/18/chomsky_by_focusing_on_russia_democrats
https://www.democracynow.org/shows/2019/4/18?autostart=true

"NOAM CHOMSKY: Well, Trump is—you know, I think there are a number of illusions about Trump. If you take a look at the Trump phenomenon, it’s not very surprising. Think back for the last 10 or 15 years over Republican Party primaries, and remember what happened during the primaries. Each primary, when some candidate rose from the base, they were so outlandish that the Republican establishment tried to crush them and succeeded in doing it—Michele Bachmann, Herman Cain, Rick Santorum. Anyone who was coming out of the base was totally unacceptable to the establishment. The change in 2016 is they couldn’t crush him.

But the interesting question is: Why was this happening? Why, in election after election, was the voting base producing a candidate utterly intolerable to the establishment? And the answer to that is—if you think about that, the answer is not very hard to discover. During the—since the 1970s, during this neoliberal period, both of the political parties have shifted to the right. The Democrats, by the 1970s, had pretty much abandoned the working class. I mean, the last gasp of more or less progressive Democratic Party legislative proposals was the Humphrey-Hawkins Full Employment Act in 1978, which Carter watered down so that it had no teeth, just became voluntary. But the Democrats had pretty much abandoned the working class. They became pretty much what used to be called moderate Republicans. Meanwhile, the Republicans shifted so far to the right that they went completely off the spectrum. Two of the leading political analysts of the American Enterprise Institute, Thomas Mann, Norman Ornstein, about five or 10 years ago, described the Republican Party as what they called a “radical insurgency” that has abandoned parliamentary politics.

Well, why did that happen? It happened because the Republicans face a difficult problem. They have a primary constituency, a real constituency: extreme wealth and corporate power. That’s who they have to serve. That’s their constituency. You can’t get votes that way, so you have to do something else to get votes. What do you do to get votes? This was begun by Richard Nixon with the Southern strategy: try to pick up racists in the South. The mid-1970s, Paul Weyrich, one of the Republican strategists, hit on a brilliant idea. Northern Catholics voted Democratic, tended to vote Democratic, a lot of them working-class. The Republicans could pick up that vote by pretending—crucially, “pretending”—to be opposed to abortion. By the same pretense, they could pick up the evangelical vote. Those are big votes—evangelicals, northern Catholics. Notice the word “pretense.” It’s crucial. You go back to the 1960s, every leading Republican figure was strongly, what we call now, pro-choice. The Republican Party position was—that’s Ronald Reagan, George H.W. Bush, all the leadership—their position was: Abortion is not the government’s business; it’s private business—government has nothing to say about it. They turned almost on a dime in order to try to pick up a voting base on what are called cultural issues. Same with gun rights. Gun rights become a matter of holy writ because you can pick up part of the population that way. In fact, what they’ve done is put together a coalition of voters based on issues that are basically, you know, tolerable to the establishment, but they don’t like it. OK? And they’ve got to hold that, those two constituencies, together. The real constituency of wealth and corporate power, they’re taken care of by the actual legislation.

So, if you look at the legislation under Trump, it’s just lavish gifts to the wealth and the corporate sector—the tax bill, the deregulation, you know, every case in point. That’s kind of the job of Mitch McConnell and Paul Ryan, those guys. They serve the real constituency. Meanwhile, Trump has to maintain the voting constituency, with one outrageous position after another that appeals to some sector of the voting base. And he’s doing it very skillfully. As just as a political manipulation, it’s skillful. Work for the rich and the powerful, shaft everybody else, but get their votes—that’s not an easy trick. And he’s carrying it off.

And, I should say, the Democrats are helping him. They are. Take the focus on Russiagate. What’s that all about? I mean, it was pretty obvious at the beginning that you’re not going to find anything very serious about Russian interference in elections. I mean, for one thing, it’s undetectable. I mean, in the 2016 election, the Senate and the House went the same way as the executive, but nobody claims there was Russian interference there. In fact, you know, Russian interference in the election, if it existed, was very slight, much less, say, than interference by, say, Israel. Israel… [more]
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5 weeks ago by robertogreco
Half of England is owned by less than 1% of the population
Research by author reveals corporations and aristocrats are the biggest landowners
plutocracy 
5 weeks ago by joeybaker

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