So Moodys have downgraded the credit rating of the UK. They were bound to get round to it in the end. They have done it to lots of other countries including France & the USA. But who are they? They seem to be a shady American organisation called Moody Corporation. Nobody seems to know what it is that they do. At least I don’t.
The problem is the system & the problem is that organisations like Moodys & the people who run it have so much power.
Modern capitalism seems to dance to the tune of people like George Soros & Warren Buffet who pontificate about the profligacy of others while they themselves feed on the sweat & blood & hard work of others. Capitalism is a strange system. Moodys are not elected by anyone, they are not part of the United Nations. And yet they seem to hold so much power & influence. It seems the intellectual pigmies who rule us hang onto their every word. It doesn’t matter about the environment. It doesn’t matter about poverty & suffering. The immorality of the gap between the have & have nots doesn’t seem to occur to them.
The unfair World we live in, in terms of material wealth is glorified & held up to be natural indeed It is held to be essential. For the creation of wealth & the smooth running of society. On the whole, it is not questioned whether or not it is right & moral. The point is if we don’t allow rich people to do pretty much as they like because we are afraid that if they just went away – somewhere, maybe to another country, we would all be sunk.
Somehow the human race seems to have missed the boat somewhere along the line & again & again in making society more rational. We are left with this unfair & ridiculous system.
Marx predicted that capitalism would fade away. He wrote about the movement of capital. But capitalism was a very different creature in those days. Since the introduction of modern methods of communication, money can speed around the globe at frightening speed. Big business move their operations to wherever the cheapest labour can be found. And then they move it again when there is somewhere else even cheaper. So at one time it was India, then it was China, then it is somewhere else, Burma maybe. People give up their lives for a minimum of remuneration. They work long hours, in often unsafe conditions.
There are some rich people who do more good than national governments. Bill Gates is one of these. But the problem is that capitalism relies very largely upon people like this; people we call philanthropists. It is pure happenstance whether or not the right person appears at the right time. In general greed prevails & it is the devil take the hindmost.