Tuesday, November 4, 2014
In the 1980s governments began selling off public assets to private corporations. Government debt and deficits were the excuse. Citizen-owned wealth, held in trust by governments was transferred to profit-seeking companies. Public inheritance was turned into a one-time payment applied to the provincial or federal debt.
This practice was called privatization. It should have been called theft, since it amounted to stealing from the public what belonged to it.
The only way the practice of "selling the house to pay the mortgage" made any sense was if you were the one buying the house.
In the 1980s governments began selling off public assets to private corporations, in a practice called privatization. It should have been called theft, since it amounted to stealing from the public.