From 80s deaths squads to support for murderous theological wars in Yemen and over throwing Govts it does not like the Americans of Charlottesville are who we know Americans to be. Sure we chat to our liberal friends on the coast and they decry Trump and rightly so. Yet they have allowed him here through voter disinterest and indifference to how the economic idiocy called policy has for 37 years affected others and shrunk the middle class and the security of pensions. A country where most people are one family illness from bankruptcy.
The appalling ideas of racial segregation now less Jim Crow more institutional instruments, and cultural creations of US military pimps Hollywood. The ridiculous concept of trickle down economics. Stealing 3rd world utilities under the guise of Aid. Tolerating corrupt murderers who do their bidding. The concept of judicial murder by Drone.
The guff that Mrs Clinton and Mr Obama have produced about “this is not us” – try telling the rest of the world that. Now they want to separate and pretend that this is not the result of their work. They want poor and ignorant to just accept their lot without reaching desperately for the idiocy of an Orange silver spooned clown when all they offer was more of the same delivered by arguably the most patronising voice of the self righteous Democrats. They’ve sent people in a direction and then complain how far they take it and their reaction to it.
Even being right about LGBT, racial differences and women’s rights can’t be done in a non virtue signalling way that would win people over to its transparent correctness.
Democrats preach equality but push inequality and their own sense of self goodness and wonder why others don’t agree.
Maybe the negative projections on poor income will come true and maybe there is a huge negative from BrExit. However to the poor it will be nothing like the cuts in benefits (in and out of work) nor their loss of health care that is coming from first New Labour policy and latterly Coalition and Conservative Govt – effectively a continuum backed but the #fakenews of all national newspapers. Indeed the currency fall they will have noticed on any foreign holidays since Brown/Balls/Darling deliberately trashed the currency – no one seemed to mind a 30+% fall then. To worry about living standards when you sucked them dry to feed a financial vampire and asset prices of the middle/upper class houses is vacuous. Continue reading “Onion in Handkerchief Time From Mainstream Economics & Politicians”
You have to worry when the Govt cravenly caves to Nissan.
As before this ridiculous world where all production is subsidised and workers taxes have to pay for what money creation cannot is unsustainable. Especially as the debt created remains – banks may go bust but loans never cancelled one rule for the plebs but sadly bankrupt plebs don’t buy anything except with more debt.
If I was just acting for myself hard BrExit with no subsidy and tariffs on imports would be the way to go. Not many want to gamble like that so having a Govt led by a populist who will shit on anything to please her party and window lickers concede without a raise to a company like Nissan is worrying.
The UK state controls a large proportion of the economy – far more than is obvious due to the State’s patronage or subsidy as I call it whether it be subsidy or tax breaks. However to move to a position of say a more Venezuela style state Socialism where various big projects dominate the economy and international capital runs for the hills is a different matter. Continue reading “State Socialism No Thanks”
OK what is Globalisation? I say it’s subsidy and a transfer of wealth from workers in the West to offshore tax havens. Whilst I cannot deny that workers in the 3rd world have benefited at least in terms of income and other measures they are as likely the beneficiaries of changes in policy in such places as China and India and a great deal of debt much borne by Western States and Western, Chinese and Japanese Banks but more significantly workers and corporates all over the world.
Apple’s products developed with and by the State. Yet they leave Bns offshore to avoid tax. Indeed even on shore countries like Uk and Ireland compete to flatter Corporates with absurdly low levels of Corporate taxation. You will also note how the IMF insists on privitisation a great method for offshoring companies if UK example is any guide. Debt onshored and profit offshored meaning only Govt guarantees prop up companies they sold to friends! You can argue whether tax avoidance is a subsidy but that is semantics and deliberate obfuscation of the point here.
Exports from every country are subject to subsidy whether it’s no tax on shipping and aviation fuel or Export Credit Guarantees. Zac Goldsmith pointed out how Apples in Europe were shipped to South Africa for waxing and back here to be eaten.
The scale of Non Performing Loans in China is another subsidy as the state there essentially buys up losses and keeps producing with consequent damage to the environment and Western businesses. Western Banks that lend the money to buy the constant flow of tat are subsidised and bailed out. In short the world is living beyond its means economically and environmentally. Guaranteed loans by Govt for the polluters like INEOS as the neo Liberals saved Grangemouth is more subsidy. The end result is that large corporates get free money and the state assumes the risk and quite how much capitalism goes on is a question.
Dan Hannan Tory MEP may be statistically challenged but he made a point the EU loves regulation as it is a barrier to entry and the burden falls disproportionately on smaller companies. The response to TBTF (Too Big To Fail) Banks has been to make them bigger and strap even more regulation on the smaller banks. Yet the only way economies can grow is to add even more debt £9 of debt for £1 of growth according to the unreliable Max Keiser – £6 to £1 of GDP (whatever that is) from more reliable sources about China.
In the UK this is especially dangerous as much of the private debt is secured against or borrowed on the back of property wealth. Essentially we have bid up the prices of existing housing stock and debt, and called it growth, GDP even. This has caused the extraction of rent from younger generations and what has this paid for? Further increases in debt.
I really don’t think a PhD in economics is needed to know this is not going to work for the majority of us. Indeed the only way to think it is might work is to have a PhD in neo-classical economics. Experts in a strait jacket of ideology are wrong and obviously so to even us.
Lots of talk of forcing up the minimum wage and this is a good idea in some ways. It may reduce employment but frankly as we can see from GDP and tax returns the UK acquiring millions of new low wage workers is almost economically meaningless and indeed upsets the locals and reduces investment and innovation.
It also reduces wages slightly at the bottom and indeed in certain professions has reduced wages and productivity – hairdressing. Whilst of course getting a handmade coffee and a handmade sarnie is nice it does seem very 19th century to have so many outlets making basic food products in the slowest most Labour intensive manner.
The better solution is a Basic Income which although technically reducing the minimum wage to 0 actually would encourage better employment practices, arts and innovation – through giving people real choice to work and not undertake dangerous tasks etc.
The idiocy of raising minimum wage is that in the UK as currently structured on a giant property and debt bubble is this will just feed through into higher rents eventually. It is not the worst thing but as it has near full support from Tories and Labour you know it’s wrong! [Call to Lack Of Authority Argument Alert]
For those who do not know Hillary Clinton effectively leaked state secrets by setting up her own email server for state department business – allegedly so she could use her Blackberry at secure sites – oh the inconvenience of a PC with its security etc.
Obama yesterday accepting that what Clinton did was criminal and then saying she meant no harm As someone whose administration persecutes Whistleblowers above and beyond regardless of motive it does show how stupid/irrational/elitist he is? Neo Libs fixate on legal illegal like it’s a line not a spectrum. Given that Mrs Clinton should be “in jail” [OK charged but it sounds less bombastic] by any rational consistency from the Administration.
Indeed surely even Obama knows it’s a lie to say she did not do it deliberately – I was drunk driving at 120 MPH but did not mean to kill anyone. She acted deliberately in her own interests and her own interests alone to get round state security. Sentence? 30 years? 20 for good behaviour and maybe out in 15 cos she’s old. Clear violation of the draconian Espionage act O’ and Holder were so fond of.
These clowns with their OxBridge Ivy League Edus really do think they’re better than us. The fact she will end up the logical vote for many I think shows how bent the political system is. How acceptance of low standards is a bit like Russians finding out Putin has a few Bill’ stashed in the British Virgin Isles.