GUEST BLOG: Bryan Bruce – Cue Bono – Who benefits?

By   /   February 10, 2019  /   7 Comments

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80 years before the birth of Jesus there was a murder trial in Rome.

80 years before the birth of Jesus there was a murder trial in Rome.

Sextus Roscius was accused of killing his father in order to gain control of his 13 farms.
He was defended by a brilliant 26 year old lawyer – Marcus Tullius Cicero -who argued it made no sense for Sextus to murder his father when, in time, he would inherit the farms anyway.

Cicero then pointed at the accusers who would gain control of the farms if Sextus was executed and the asked the judges “Cue Bono?.” Who benefited? “ from the murder ? And who would benefit if Sextus was executed?

The answer was crystal clear . Not Sextus but his greedy relatives.

“Who will benefit?” is a great question to ask i-especially in situations where wealth redistribution is at stake.

The government has just received a report from an advisory group it has set up on fair pay and it will soon receive one on taxation.

We will no doubt be told that the decision of what to do about addressing the yawning gap between the rich and the poor in our country is complicated. But if you ask Cicero’s question then I think it’s easy to see what needs to happen.

In 1984 Labour introduced neoliberal economics into our country which National put on steroids . Its an ideology that all subsequent government have supported.

So – who has benefited from the 1984 economic “reforms” and free market ideology?

Andwer? A few people- largely the already monied class -gained enormously from the cutting of tax rates , the attack on the unions and the creation of a low wage economy.

They have also benefitted hugely from the fact that consecutive governments over the last 30 years have given the rich permission to accumulate even more untaxed wealth by investing in land and other capital assets.

Meanwhile the great majority of us have been made poorer by the economics and politics of selfishness and so trial time is fast approaching.

But will it be a real trial in which the greedy will be finally brought to account for the misery they have caused ?

Or will it be a show trial design to appease the anger amongst New Zealanders who work hard all week and still cannot make ends meet?

Stay tuned.

 

Bryan Bruce is one of NZs most respected documentary makers and public intellectuals who has tirelessly exposed NZs neoliberal economic settings as the main cause for social issues.

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7 Comments

  1. let me be frank says:

    History would indicate that all governance typically is addressed to the concerns of the entrepreneurial class and any nod to the needs of the rest is determined by their necessity and at the minimum required to avoid loss of control.

    There is no reason to suppose anything has changed

    • John W says:

      LMBF
      Not much ongoing entrepreneurial activity from banks except their power to silence all opposition.

      Capturing the power to create money out of thin air happened a long time ago and has been transferred to NZ through adoption of English law.

      The words “entrepreneurial class” needs to be described more honestly.

      They are burglars protected by law.

      97% of new money in NZ ( RBNZ figures ) is created by private banks for their own profit.
      Every time a loan is created and repaid the potential profit is 900% plus the interest paid.

      Start with a dollar deposit
      loan $10 against that as banks as allowed to by NZ law
      have it repaid plus interest.

      Do that 10 times over using the profit as a deposit and you end up with over $3. BILLION.

      The value behind that money comes from the pool of NZ assets, that is our personal and national nest eggs. Parasitic activity feeding off Kiwis.

      Burglars and parasites need to be named for what they are.

      It is naive to entertain the idea that roger douglas was not paid well for what he did.

      Paid by the wealth gatherers who have so much money at their disposal allowing them to corrupt the system even further.

      The system we have now will continue to make a few wealthy much wealthier and a growing number poor leading desolate lives. Much of the “profit” taken goes off shore other used to increase more of the ownership of NZ bu a few corporates sitting behind holding companies and hedge funds.

      Capitalism is doing this globally.

      We need a voice independent from Corporate owned news media and corruption.

      A start may be to clean out of Corporate lackeys in RNZ. We have RNZ news heavily propagandised. from US sources.

      There is no balance.

      Look at the board, CEOs and chairmanship . Follow their history to see where they come from.

  2. jay11 says:

    Who benefits? Also applies to the current Venezuelan crisis as th U$ and its supporting Venezuelan rich and landed elites seek to “regime change” the ordinary people’s hope of a better future with a redistribution of income and wealth.Plus most importantly controlling their own oil wealth.

    Saker interview with leading economist Michael Hudson on Venezuela
    https://www.greanvillepost.com/2019/02/07/saker-interview-with-leading-economist-michael-hudson-on-venezuela/?feed_id=944&_unique_id=5c5c249c353be&fbclid=IwAR1Ifqtxwzk3e8v1oNLhqjPNt3YP0wKij8CP5mi4EP3cuDX19F1fbTWoRuA

  3. jay11 says:

    Why Ireland is a nation of debt slaves with open borders

    https://www.youtube.com/watch?v=_JTGMkqS9Yg

    00bond 007
    3 days ago (edited)
    THIS IS THE BEST BIT OF IRISH REPORTING I’VE SEEN. THE CLEAR TRUTH EVERY ONE KNOWS IT, NO MAINSTREAM MEIDA WILL TOUCH IT, GOVERNMENT ORDERS. BUT IRELAND OWED NO ONE ANYTHING GIVE OR TAKE A FEW PENNY’S. THE GOVERNMENT SOLD US OUT TO PRIVATE GAMBLERS WHO LOST ON THERE BETS. THEY LAUGH AND CALL US THE SLEEPING IRISH. WAKE IRELAND SHOW THEM WE ARE THE FIGHTING IRISH, OUR DEBTH SO FAR THANKS TO EUROPE 200 BILLION AND COUNTING

    millie vanillie
    millie vanillie
    3 days ago
    Can someone explain why Ireland did not go the route of Iceland after bank crash in 2008? It seems the big benefactors from the years of austerity were the overseas bank investors including Germany. IMO Ireland and Greece were duped into accepting austerity, and the young workers in their 20s and 30s paid the highest price. Right now Italy is on the brink of an banking collapse, but I doubt if the Italian people are in any mood to accept austerity. I feel certain that the German public would not accept the austerity that was pushed on Ireland and Greece.

  4. Castro says:

    Who benefited? The propertied class… is that you?

    First in front of the firing squad will be Douglas, then Richardson…

  5. jay11 says:

    The Public Bank Solution
    From Austerity to Prosperity

    WHAT WALL STREET DOESN’T WANT YOU TO KNOW. Shock waves from one Wall Street scandal after another have completely disillusioned us with our banking system; yet we cannot do without banks. Nearly all money today is simply bank credit. Economies run on it, and it is created when banks make loans. The main flaw in the current model is that private profiteers have acquired control of the credit spigots. They can cut off the flow, direct it to their cronies, and manipulate it for personal gain at the expense of the producing economy. The benefits of bank credit can be maintained while eliminating these flaws, through a system of banks operated as public utilities, serving the public interest and returning their profits to the public. This book looks at the public bank alternative, and shows with examples from around the world and through history that it works admirably well, providing the key to sustained high performance for the economy and well-being for the people.

    Why do we continue to borrow money from overseas and pay interest to their bankers when we could issue our own!? As in the 30s and 40s for the state housing building program.

    • John W says:

      One internal state owned bank as a source of loans. All “profits go to the people as the state uses the money gained for public good.


 
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