Comments by "Tony Wilson" (@tonywilson4713) on "Fed’s Interest Rate Hike Unleashes Economic Plague Of Bloodsuckers w/Greg Palast" video.

  1. As an engineer I am READY TO SCREAM AT PEOPLE WHO BLAME THE WAR IN UKRAINE FOR ENERGY PRICES. Energy prices across the world have been rising for years all that the war in Ukraine has done is exacerbated the situation. The reason why every economist on the planet keeps claiming its the war is because they don't want to admit it was the widespread privatisation of energy assets that they championed during the 1990s that's caused this. I have spent a lot of time over the last few years informally studying economics so that I could make the argument for what they did. Prior to privatisation when governments built big massive energy projects like Tennessee Valley (America) or Snowy Hydro (Australia) or the nuclear programs in Canada, Britain, France, Japan they had 2 main metrics - GDP growth and Employment. It was a fairly simple concept they built the power stations ahead of the demand created by population growth. It created lots of extra energy so that factories and businesses could be started and they'd have cheap power making it easier to EMPLOY people and be profitable. When the flipped to privatised power ALL OF THAT WENT OUT THE DOOR. Private companies have no social responsibility to GDO growth or employment. Milton Freidman said "There is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits..." Its just taken 25 years for the privatisation nightmare to get to this point where we are shutting down older power stations NOT because they have emissions or they are nuclear BUT BECAUSE they are just so old they can't keep running. Just this week in Australia we shut down the Liddell power station which just adds to our list of power stations we have shut down. We have built out a huge amount of solar and wind but NONE OF THAT is BASE LOAD POWER which is what industry needs.
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