Capitalism’s obscenities are unacceptable

Australian billionaire James Packer.

By now we all know that the rich get richer under capitalism. But many are astounded at the incredible pace this takes place.

Last week it was reported that Australian billionaire James Packer celebrated a 560% increase in his casino investment in Macau. Great reward for making totally unproductive, indeed socially and morally destructive, investments.

Then there was the incredible news of Gina Rinehart's huge wealth. The $75 million in mining assets Rinehart inherited from her mining mogul father, Lang Hancock, in 1992 has multiplied into $17-20 billion in just 20 years.

This makes her the wealthiest woman in Asia, according to Forbes. She’s on the path to becoming the richest woman in the world after she doubled her wealth in a single deal.

On the other side of the global tracks, Greek pensioners, already struggling to get by with a pittance, will have their pensions cut by more than 20% under the terms of an austerity deal agreed to by a Greek government appointed by the world's bankers.

Workers will be forced to take a 23% pay cut. And in return, the world's bankers will increase Greece's debt (and in the process protect bad and corrupt unpayable loans made by those same bankers).

Greece is being fleeced and sent to hell for years to come to save the system that makes the rich even more obscenely rich.

Our moral stance can only be to reject this as obscene and unacceptable. Green Left Weekly gives full solidarity to the Greek workers, pensioners and students who are continuing to fight this austerity to bail out a sick and corrupt world capitalist system.

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