Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Xavier: "Inflation is not per se an action of class war, quite the contrary: core inflation destroys the revenues from capital and is, by definition, constituted by an increase in wages and salaries."

Inflation is a way to re-balance the effect of class war by reducing the burden of debt that the wealthy have imposed on the rest through their privileged access to the levers of power and superior understanding of the operation of a capitalist economy. And the French nuclear fleet was not built with the savings of French investors so much as by the creation of credit by banks based on a national consensus of the need to develop a non-fossil fuel based supply of electrical power. Had there not been that consensus the interest rate charged would have made the power produced much more expensive, not to mention the cost of obtaining product liability insurance for the plants.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Nov 19th, 2013 at 10:39:31 AM EST
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