It was announced yesterday that William Russell’s term as Lord Mayor of the City of London will be doubled to provide ‘continuity’ and ‘civic leadership’ through the current pandemic. Civic is usually understood to mean relating to a city or municipality, whereas Russell’s Covid-19 statements are mostly about the global financial industry. Russell is the fifth member of his family to hold the top council job of Lord Mayor in just over 100 years, this nepotism will be compounded when he gets his second term. As we’ve already reported, the ‘election’ in which he gained office was rigged and the one that will allow him to remain in post will be too.Read more "City of London Shows Contempt For Its Residents & Democracy With Covid-19 ‘Civic Leadership’ Claims"
The City wants hot money looted by corrupt elites from outside the overdeveloped world to pour into London and other global centres, where it can be invested in property and thus hyper-inflate the housing market. As a result rents and mortgages get puffed up, and so do potential profits for financial capital as debt increases. As the last crash showed, the periodic failures of this system are often the means by which yet more wealth is transferred from the poor to the rich. The City and its offshoots such as The Housing & Finance Institute want London and many other urban centres blighted with ghost homes, since this forces up house prices and leads to ordinary people overspending on necessities and in debt.Read more "The Denizen & The Plutocracy’s Programme For Growing Inequality"