Reverted to type

Reverted to type on waking this morning, that is to say as an old lefty.

The thought being that the recent referendum vote was in some part a protest vote. A protest by the have-nots at the greed of the haves. Their thoughts on this being helped along by the spectacle of an already very rich entrepreneur helping himself to £500 million from a business he bought on the cheap and then transferring those millions to a tax haven as a present for his wife.

The catch is that while the haves may be getting a rather large - and increasing - share of the cake these days, it looks as if the cake as a whole is going to get rather smaller, certainly in the short run. So it seems unlikely that the have-nots will be any better off.

More protests to come seems a likely outcome. But what form will they take?

Slightly different take on the £500 million to be found at reference 1.

PS: in the margins of our street's recent birthday street party, I learned from someone who sounded like he knew, that making a business bankrupt in order to dump a pension fund in trouble on someone else, and then restarting the business without the pension fund (and without any other awkward liabilities there might have been knocking about), in slightly new clothes, under a new flag of convenience as it were, is a well known ploy, particularly in the USA where the bankruptcy laws rather favour this sort of thing.

Reference 1: http://psmv3.blogspot.co.uk/2016/03/high-finance_9.html.