Simplicity is the ultimate sophistication. - Leonardo da Vinci

Life is really simple, but we insist on making it complicated. - Confucius

What would these blokes know?

My two bob’s worth is as follows.

Without production money has no value! Money is a standardized promissory note that can be traded for stuff or services. If the lawyer, advertiser, real estate agent, accountant, journalist and the salesperson (to name a few) were the only individuals on the planet and they invented a system of promissory notes so they could use them to purchase each other services, it would not work because they produce nothing. They would have nothing to eat, nowhere to live, would be naked and have to walk. Their services and accumulation of wealth can only be ancillary to production.

Again I don’t wish the reader to take the above literally. A complex society requires some essential none productive services to function. We need to question the balance and degree of these activities and the reward (proportion of productivity) a particular activity attracts.

When we spend more than we produce it is called debt! When parasitic activities increase productive activities decrease, it is called inflation!

Too many none productive parasites being rewarded with a disproportionate and undeserved amount of our productive wealth!

The solution (very condensed version) – Personal income per annum (from all sources including fringe benefits) should be limited to a range from not only a minimum, but also to maximum linked to sustainable GDP. Income goes up goes up and down with productivity. We share the pain and the wealth. I call it Productionism.

I reckon Gina should use her influence in channel 10 to have “mining magnate” become next years Biggest Loser theme. Nathan, Clive and Gina’s egos going head to head would be a great watch and give them something meaningful to do. I bet Twiggy would go on a binge to get on the show.

individual,

"If you weren't in a privileged situation you wouldn't state comments like you do..."

But you have no idea why I state comments like I do - or why I might judge "poor" differently from you.

I am in a privileged situation. I live in the West.

I don't think it's helpful for me to disclose the extent of my charitable endeavours, suffice to say that I try to put my money where my mouth is.

You seem to think that I'm preaching from beyond a familiar experience. Not so. I've known what it's like not to possess shoes or a jumper. I remember, at one stage when I was young, piling up the bed with any old thing to supplement a threadbare blanket.(I still wake up some mornings and consciously acknowledge the fact that I'm lying in a nice bed with a warm quilt)

I understand why you might think of me as you do, but really, I don't need a lecture on pauperism.

Thanks for sharing poirot, I'll pass your notes onto any paupers I happen to meet.

I agree with Squeers on one point. And that is that we are sold austerity by those least likely to adopt it themselves. Rich movies stars, wealthy liberal elite such as the Warren Buffets of the world and Left wing academics and Politicians, all of whom have carbon footprints like King Kong and live very priveleged lifestyles.

I fear the new austerity being imposed on the rest of us is a way of decreasing our slices of the economic cake while they retain theirs.

The wealthy will take 1000% of the good times and then "to be fair" accept a 10% haircut when "austerity" is needed.
Similar to the "private profits, public risk" banking system.
When the "elite" manage to kill a nations's prospects as thoroughly as they have in the US it is no surprise there will be a backlash. What a shame that "occupy" remains such a vague aimless mob.
Producer said it well: we need to be rid of the parasites that take so much and yet add so little. Remember the basics of economics 101: Everything is scarce. Why reward non-wealth creators so much more than wealth creators? Some seek to add value...others just to acquire. The very wealthy are simply the least conscientious about creating what they take. How many fortunes are based on known criminal start-ups? (Disturbingly many!)
In economic history it is only when the elites are crushed that progress actually occurs. *Never* trust the very very wealthy (scions particularly), particularly in a crisis!
Left/Right politics is actually irrelevant to the issue now: There are parasites on both sides.