Sunday, April 29, 2012

Britain's wealthiest people saw their fortunes rise to record levels last year, according to the annual Sunday Times Rich List, at a time when most Britons' earnings and savings were squeezed by inflation and low interest rates. The combined wealth of Britain's 1,000 richest people swelled by almost 5% to more than £414bn, the highest recorded by the 24-year-old survey.

If the political system continues in its current form then the few remaining assets now collectively owned (such as savings and housing) will fall rapidly into the hands of the few. We are seeing the signs of all this now in ‘buy to let’ housing boom, the spike in the number of cash businesses and the clever ability of large sections in the poorest areas to be able to finance and maintain businesses and rental housing portfolios. Truth is lots of people make lots of money in these times (Re: pawn shops and payday loans) and if the political will is not there to ensure fairness then the transfer of money from the poor to the wealthy or the criminal begins. You may not be able to see it yet but it is happening now on a massive scale.