Picture Puzzle

Inequality-V-Debt
Sources: Left Irish Left Review, Right IMF

OK it’s way past my bedtime but I couldn’t resist showing you this. I was researching something when I was struck by the similarity between these two diagrams. On the left we have income inequality – roughly speaking, the difference between the richest and the poorest fifth of each society. On the right we have the amount of debt that countries across the EU have gotten into in the last few years.

Broadly speaking, it’s the most unequal countries that are also the most indebted. How does that happen? The ‘liberalisation’ of many economies in the past decades was ostensibly meant to make them richer. The effect though has been very different. Low-tax countries are having to borrow in order to meet expenditure, particularly when times get tough. Meanwhile their lack of redistribution means that citizens are encouraged to borrow in order to compete socially – sometimes even to meet basic expenses. This private indebtedness tends quickly to become public when lenders collapse.

In short, trickle-down economics is really trickle-away. Though a minority of individuals within them are of course better off, countries that cut back on tax and expenditure end up impoverished over all. People seem to vote for such policies in the optimistic hope that they will somehow get into that ever smaller, ever richer minority. The odds suggest that they should buy lottery tickets instead.

Aftermath

So what was the Vatican’s response to Ireland’s historic vote for marriage equality?

Slightly muted, somewhat bitter, and more than a little enlightening.

The Pope himself said nothing publically, presumably not to appear fallible. It was left to close deputy Cardinal Pietro Parolin to make this odd but revealing pronouncement:

The Irish vote, he declared, was a “defeat for humanity”.

The decision of a majority to accept and cherish a minority? To me, that is the triumph of all that is best about people, humanity at its absolute finest. It seems that when the Catholic Church uses the word “humanity” it means something quite different.

Itself, I suspect.

A 2,000 year old all-male global institution. For sure that’s an organism of a sort, able to preserve and replicate itself successfully. But its goals and its needs, its triumphs and defeats, are not humanity’s. Life, but not as we know it.

Privilege

Can you really prevent the country from knowing what was said in the Dáil? Of course you can’t. The idea is plainly ridiculous. If you’re rich enough though, you can send out a flotilla of lawyers to try.

I can’t say whether that’s the action of a balanced mind, but it does seem clearly to be oppressive and anti-democratic. The whole notion of an interlocutory injunction is problematic at the best of times, allowing you to censor media without having to first prove that the information in question is either harmful or untrue. We only accept it because we’re used to speech being insanely curtailed in this country. But attempting to impose one on the national law-making assembly seems just downright hubristic.

And I think I’m beginning to detect another sickening aspect to this story: An attempt by Fianna Fáil to spin Denis O’Brien as Fine Gael’s creation because of his dealings with Michael Lowry, in the hope of making themselves seem the clean party by comparison. This is specious of course. The fortune of Denis O’Brien and of others like him grew under both governments, as each pursued virtually indistinguishable policies of making the rich richer.

And with that greater wealth came greater power, until the super-rich think nothing of biting the states that fattened them. The democratic form of government has never been in greater danger than it is now; not from revolutionaries or evil foreign dictators, but from the elites it itself created, beginning to believe that they can do just fine without it.