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Half of UK adults are financially vulnerable, City watchdog finds

theguardian.com

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Re: Half of UK adults are financially vulnerable, City watchdog finds

#21

Post by musage »

adekok wrote: post #7
s_kilk wrote: post #5

Earlier quoted context omitted.

It really is remarkable how efficient capitalism is at ensuring that proles are born with nothing and die with nothing. Every tiny bit of surplus beyond maintenance of the body is siphoned away into the pockets of the capital class.

Because in nature, organisms don't grow to the limits of their environment, right? They willingly limit their growth so that all enlightened organisms can share equally in a workers paradise, amidst songs of empowerment and fraternity, while marching collectively towards a bold new future! Yeah... no. Evolution shows us that organisms do grow to the limits of their environment. A "capitalist" system is no different.…

You could replace capitalism with Nazism in a world ruled by it and you'd have the same "point". What you call understanding is obedience and sophistry, merely trying to get your subjective self out of the picture and trying to call the remaining mess objective.

> The intellectual tradition is one of servility to power, and if I didn't betray it I'd be ashamed of myself.

-- Noam Chomsky

> Alas! There comes the time of the most despicable man, who can no longer despise himself.

-- Friedrich Nietzsche

Re: Half of UK adults are financially vulnerable, City watchdog finds

#22

Post by aetherson »

I mean, that's $780 per year. I don't know what the, er, lowest hexile in the UK makes, but surely it's no better than $30k per year, right? And in fact probably much worse.

So they'd struggle if they suddenly had expenses that were 2.5% of their income or more? That doesn't seem revelatory.

Re: Half of UK adults are financially vulnerable, City watchdog finds

#23

Post by pygy_ »

adekok wrote: post #7
s_kilk wrote: post #5

Earlier quoted context omitted.

It really is remarkable how efficient capitalism is at ensuring that proles are born with nothing and die with nothing. Every tiny bit of surplus beyond maintenance of the body is siphoned away into the pockets of the capital class.

Because in nature, organisms don't grow to the limits of their environment, right? They willingly limit their growth so that all enlightened organisms can share equally in a workers paradise, amidst songs of empowerment and fraternity, while marching collectively towards a bold new future! Yeah... no. Evolution shows us that organisms do grow to the limits of their environment. A "capitalist" system is no different.…

Provided resources are finite and the sun's output is constant, gradually limiting growth would indeed be wise unless we want to fall off a cliff at some point.

————

Edit: in response to your edit:

Healthy ecosystems strive at equilibrium. If a species consumes more energy than its environment can supply or produces more entropy than its environment can dissipate, things go bad for the environment and for the species unless it can move to greener pastures.

What is true for species is also true for non-biological dissipative processes. Capitalism and the growth-fueled financial system are not perennial. In this context, humanity is part of the environment, and greener pastures is the automation epidemics, where capital is becoming self-sufficient.

This is dangerous for humans.

Re: Half of UK adults are financially vulnerable, City watchdog finds

#25

Post by wildpeaks »

lotsofpulp wrote: post #8
dest wrote: post #3

would it mean that rents are not going to increase because people are not going to pay for it?

It could also mean that they cut back on vacations and other ancillary spending.

Those at the edge of not being able to afford rent already don't take vacations and don't spend frivolously.

Re: Half of UK adults are financially vulnerable, City watchdog finds

#26

Post by ams6110 »

s_kilk wrote: post #5
pnutjam wrote: post #2

That's a feature of capitalism, not a bug. Can't leave money on the table.

It really is remarkable how efficient capitalism is at ensuring that proles are born with nothing and die with nothing. Every tiny bit of surplus beyond maintenance of the body is siphoned away into the pockets of the capital class.

It's also remarkable how efficient it is at creating wealth for people willing to forego some immediate gratification.

My parents had over $1 million saved when they retired, and had never earned 6 figures in a year, combined. How? Investing a little every month in index funds in an IRA. Aside from that they also put two kids through college.

But yes, if you decide to spend every dollar you earn, capitalism will happily accomodate you.

Re: Half of UK adults are financially vulnerable, City watchdog finds

#27

Post by ionised »

adwhit wrote: post #11
s_kilk wrote: post #5

Earlier quoted context omitted.

It really is remarkable how efficient capitalism is at ensuring that proles are born with nothing and die with nothing. Every tiny bit of surplus beyond maintenance of the body is siphoned away into the pockets of the capital class.

Indeed, 1 in 6 are most likely 'struggling' already. The UK ruling class have really done an excellent job of squeezing the life (physical, financial and social) out of the average citizen. I don't think they quite realise what they've done, and how angry people are. It doesn't feel like a happy country at the moment.

My observation (as a UK citizen) is that vast swathes of the population have a severe and centuries-long case of Stockholm syndrome towards the ruling classes and landed elite.

They will profess patriotic support for private and for-profit schools having charity status and the incompetent and malicious political class that is churned out by these institutions, along with sycophantic support of the royal family and aristocracy in general.

The UK has systemic classism built into the very fabric of its society, and the ones claiming that classism is unhelpful and divisive tend to be the ones that wage class warfare against the poor and desperate.

Re: Half of UK adults are financially vulnerable, City watchdog finds

#28

Post by czechdeveloper »

s_kilk wrote: post #5
pnutjam wrote: post #2

That's a feature of capitalism, not a bug. Can't leave money on the table.

It really is remarkable how efficient capitalism is at ensuring that proles are born with nothing and die with nothing. Every tiny bit of surplus beyond maintenance of the body is siphoned away into the pockets of the capital class.

It's more like people are used to extend their expenses to same amount as their earnings. Saving is not sexy, new car is.

Re: Half of UK adults are financially vulnerable, City watchdog finds

#29

Post by ionised »

ams6110 wrote: post #26
s_kilk wrote: post #5

Earlier quoted context omitted.

It really is remarkable how efficient capitalism is at ensuring that proles are born with nothing and die with nothing. Every tiny bit of surplus beyond maintenance of the body is siphoned away into the pockets of the capital class.

It's also remarkable how efficient it is at creating wealth for people willing to forego some immediate gratification. My parents had over $1 million saved when they retired, and had never earned 6 figures in a year, combined. How? Investing a little every month in index funds in an IRA. Aside from that they also put two kids through college. But yes, if you decide to spend every dollar you earn, capitalism will happ…

The point is, most of the struggling working class do not have the spare cash to invest in anything.
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