Announced to day are massive profits for the oil companies BP and Shell. The reason? Global oil prices. Also announced by Avaaz is another crisis on our doorsteps, the availability and price of food. More.
A visit to a local Chinese take-way last night showed that rising prices are having a dramatic effect. The owner told me that he was just breaking even as the price of rice was rocketing and increased prices were driving away custom.
It has long been clear in the development of the European Union that markets are the driving force, the tacit assumption being put around that it’s good for people. The outcomes we are seeing more and more graphically is that people come of second best, unless they are a member of an elite with the resources to absorb steep rises in prices of fuel and food. New Labour has not been about protecting working people from the effects of the globalisation of markets, said to be a good thing by many who ought to know better. Rather it has developed a new alternative elite. All major parties in UK are tied into capitalism and its logical outcomes which are creating crisis and chaos.
As war in Iraq and elsewhere brings massive financial reward to the ruling elite in the US, backed by Britain so fuel prices and shortages bring benefits to those in control. Those striking at Grangemouth about their loss of pension were quick to point out that the boss was fifteenth on the “rich list” published by the Sunday Times. The workers are told that they must “modernise”. Sound familiar to those in New Labour from exhortations of Blair et al. “Modernisation” is a euphemism for throwing away your hard won rights of all of us for the benefits of the few. The religious Mr Blair has benefited rather well from his disastrous spell in office.