‘BT Investors hope for payout after pension cut’
This headline from the business section of The Guardian 13 May 2011 reveals much about what is wrong with both the economy and the political structure of our society.
It is no surprise that the business pages will reflect the view of business, and especially those of the executive class, but while the champagne corks are popping for investors, those who have spent much or most of their lives working for a company end up with pensions that will be worth less than were promised or deserved.
What about the consequences to the local economies where all these pensioners live, never mind the difficulties they will face in buying food (food costs are again rising fast) and meeting their day-to-day needs?
What is good for investors is not necessarily good for the pensioner or the employee.