…equal opportunity for the more equal…

…talent and tenacity will always prevail?…

Chris Giles of the Financial Times (pay wall after a few views) in an article of 23 May had launched a broadside against Thomas Piketty’s book, where he sought to discredit Piketty’s work, in particular the data. In examining one element of Piketty’s argument, he would famously observe,  ‘…I discovered that his estimates of wealth inequality – the centrepiece of Capital in the 21st Century – are undercut by a series of problems and errors. Some issues concern sourcing and definitional problems. Some numbers appear simply to be constructed out of thin air.’

So then, a dishonest economist. An economist who, in collaboration with colleagues, has had all the data, code, and references readily available online? The issue? Basically, Piketty had asserted wealth in the US and the UK has been increasing for the tiny minority. But we leave the fine points aside to attend to some useful distractions. From the Independent, an observation, Britain’s land is still owned by an aristocratic elite – but it doesn’t have to be this way

 …When you look at a map of the British Isles, you are looking not at your home but at a land mass overwhelmingly owned by a tiny aristocratic elite. Extraordinary though it might seem, in the 21st century, 0.6 per cent of the British people own 69 per cent of the land on which we live – and they are mostly the same families who owned it in the 19th century.

And moving to the ‘dark side’, from The Guardian we learn something like, £13tn hoard hidden from taxman by global elite

A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the American and Japanese GDPs put together – according to research commissioned by the campaign group Tax Justice Network.

The International Consortium of Independent Journalists (ICIJ) had also done similar work. Now, if we assume that the ‘bad guys’ from other countries had salted away £9 trillion and a few misguided ‘good guys’ of the UK and the US, the remainder – we’re talking some serious ‘dosh’. In other words, not all that wealth will go identified or recorded.

Now if we’re talking tracking down or taxing funds, unconcealed or not, which have the added protection of astute lawyers and accountants and political influence, how do we do that? Which leads us to a MSM ‘secret’ that was always a secret, until recently, we see the range of possibilities. The Guardian gives some insight seldom provided – but there is a birthday party in the offing.

Bilderberg at 60: inside the world’s most secretive conference So it seems that those US activists, so long ridiculed, were no ‘conspiracy theorists’ after all? After a review of the amusing agenda, we come to this.

They can try to laugh it off as a “talking shop” or a glorified knees-up, but these people haven’t come to Bilderberg to drink fizzy wine and pull party poppers. It’s possible that Reid Hoffman, the head of LinkedIn, has turned up for the birthday cake. But I doubt it. This is big business. And big politics. And big lobbying.

Bilderberg is big money, and they know how to spend it. From my spot outside, I’ve just seen three vans full of fish delicacies trundle into the hotel service entrance. I always thought there was something fishy about Bilderberg. Turns out that for tonight at least, it’s the rollmops.

After a glance at the invitation list, it should be easy to come up with the policy ideal for addressing any remaining inequality or poverty. And with protection more intense that at any IMF/World Bank meeting, we know that nothing will distract from arriving at that policy.

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