“It’s very hard for you to believe isn’t it? It’s very hard for you to believe, that there are still some of us who can bring a child into this world without recourse to cannabis & government handouts!”
“It’s very hard for you to believe isn’t it? It’s very hard for you to believe, that there are still some of us who can bring a child into this world without recourse to cannabis & government handouts!”
In a hurried and emotive statement after London’s markets had closed, Barclays attempted to calm fears that it faces a cash crisis. Rumours had circulated all day that Barclays was forced to go to the Bank of England after the central bank said it had lent £1.6bn at its penal rate of 6.75%. It is thought that Barclays borrowed the entire amount.
Hmm 6.75 % that’s the ‘penal rate’ which makes the rate to us poor schlubs what exactly? Capital punishment? Meanwhile besuited scumfucks aren’t getting as much swill as they’d like-
Major private equity buyouts have ground to a halt because of a backlog of “a year’s worth” of debt financing that banks must sell to other investors before they can start funding new deals, industry sources said. “There is a $100bn (49.7bn) pipeline of deals [in Europe] that needs to be sold…”
A syndicate of lenders led by Deutsche Bank has been unable to get rid of any of the £9bn it put up to finance KKR’s takeover of Alliance Boots, despite much of it being at a discount. Barclays and Mizuho, the lead banks on the £6.1 merger of the AA and Saga, have also been stuck with the loans from that deal.
Do you want to know what causes recessions? Greed. That answer also applies to executive pay, so how much did your wages go up this year? Was it 37%?-
Only a handful of top companies in continental Europe and the US are led by UK executives, despite claims that high levels of boardroom pay are essential to prevent a management brain drain. The Guardian/RTF survey of executive remuneration revealed this week that average pay for directors at Britain’s top companies rose 37% last year, with chief executives making on average £2.875m. Supporters of such high levels of pay say that British talent would migrate overseas if the price wasn’t right at home.
Analysis of Germany’s Dax 30, the Dow Jones industrial average and the companies that make up the Euronext 100 – in France, Portugal, Holland and Belgium – reveals less than half a dozen are run by UK chief executives.
So what happens when we begin to win some victories against big corporations? Yep that’s right they connive with the govt. to put the claims to court and until the case is decided (can you say- litigation and endless appeals) no more payouts-
While the test case is going on, claims will be suspended, except in genuine cases of financial hardship.
At the end of this orgy of greed the crash that’s coming will mean less income for the govt. and what do you think our conservative govt. will cut? After all we all know social programs and health services only make the labour market less…malleable.
There is a graph hidden somewhere in Europe of which Church of the Free Market disciples will never speak, it is a fabled document as blasphemous to them as the Necronomicon, it shows that with generous social spending and universal education/healthcare, the crashes of the boom and bust capitalist con game are smoothed out and become less severe. People suffer much less, however the trade off is the booms are not as great… are you getting the picture? Anything that bogart’s their greed high is attacked even though it would lift millions out of poverty, poor health and substandard education
The recent turmoil in financial markets could cost the Exchequer as much as £10bn per year in lost revenues. Research by Credit Suisse based on past market downturns suggests that a 10 per cent fall in real share prices “might eventually be associated with a 7. 5 per cent fall in business investment and a 2.5 per cent fall in consumer spending. The larger part of the impact on business investment comes through over a two to three year period. It takes longer in the case of consumer spending”. This would equate to about 2 per cent of GDP, a significant hit, with an implied reduction of around the same magnitude in Government revenues, or approximately £10bn per year by the end of the timescale.
They make their mess, jump ship with their booty and the Church of the Free Market corrupted governments do not hold them to account and instead the most vulnerable suffer. Can’t wait to hear the next spate of benefit scroungers and single mother speeches given by both our conservative pro-market parties. Always makes a recession go with such a swing, because y’know it’s someone surviving on £60 a week that’s wrecking our economy, innit?
From Juan Cole’s blog–
Barnett Rubin relays a message from a well-connected friend in Washington on the Cheney Administration’s plans to roll out a military confrontation with Iran in September. He writes at the Global Affairs blog:
” My friend had spoken to someone in one of the leading neo-conservative institutions. He summarized what he was told this way:
They [the source’s institution] have “instructions” (yes, that was the word used) from the Office of the Vice-President to roll out a campaign for war with Iran in the week after Labor Day; it will be coordinated with the American Enterprise Institute, the Wall Street Journal, the Weekly Standard, Commentary, Fox, and the usual suspects. It will be heavy sustained assault on the airwaves, designed to knock public sentiment into a position from which a war can be maintained. Evidently they don’t think they’ll ever get majority support for this–they want something like 35-40 percent support, which in their book is “plenty.”
Of course I cannot verify this report. But besides all the other pieces of information about this circulating, I heard last week from a former U.S. government contractor. According to this friend, someone in the Department of Defense called, asking for cost estimates for a model for reconstruction in Asia. The former contractor finally concluded that the model was intended for Iran.”
Earlier, McClatchy reported on Aug. 9 that Cheney has been urging bombing of Iranian trails to Iraq. This position struck me as eerily reminiscent of Nixon-Kissinger’s treatment of Cambodia (which is what really caused the Khmer Rouge horrors, not, as Bush said the other day, US withdrawal from Vietnam; we dropped enormous amounts of ordnance on that country and severely disrupted it).
It perhaps has already begun, remember the Iranians arrested and blindfolded in Baghdad who were actually engineers & energy ministry officials there as guests of the Iraq govt.
prior to the Iranians’ arrest, U.S. soldiers were aware that the hotel where the Iranians were staying had proof that the Iranians were in Iraq at the invitation of Iraq’s Energy Ministry.
They were sat eating dinner at their hotel when US forces with corporate media camera crews busted in and arrested them, they were released the next day footage of Iranians being arrested in Iraq achieved. The lie had been shouted, the retraction the next day whispered and Iran insulted and provoked and slow of thinking domestic viewers have -Iran are baddies- imprinted on their lizard brains. Mission accomplished.
Oh yeah, I have to admit I did a trace myself but the traffic demands on the scanner stalled it. But fear not SOA Watch caught the Fort Benning pixies at their naughty work (from SOAW email bulletin)-
A new scanning program has revealed that Wikipedia entries on the School of the Americas, renamed the Western Hemisphere Institute for Security Cooperation (SOA/WHINSEC) have been edited from an IP address from Fort Benning to omit all references to human rights abuses connected to the school.
The IP address used was 150.226.95.18. Any IP address that begins with 150.226 belongs to Fort Benning. That IP address has the name of doim1-358.benning.army.mil, which is via the Directorate of Information Management at Fort Benning.
The program also revealed that an entry about Fort Benning was altered to delete all mention of SOA Watch. Graduates of the School of the Americas have a documented track record of using the skills they were taught at the SOA/WHINSEC against union organizers, social justice activists, faith leaders and everyone who speaks out for social change and the rights of the poor.
And in good news-
Chile’s Supreme Court has upheld the life sentence handed down to a former general for his part in the murder of 12 opponents of Augusto Pinochet.
Hugo Salas Wenzel, a graduate of the School of the Americas was the head of the National Information Center, the intelligence service, which carried out the killings. He is the first senior member of Augusto Pinochet’s military government to be given a life sentence for human rights abuses committed between 1973 and 1990.
The 1973 coup and its bloody aftermath were largely the work of SOA graduates. The Spanish lawyers who presented the charges that resulted in Pinochet’s 1998 arrest also requested the indictment of 30 other high-ranking officials of the Chilean dictatorship. Ten of those are SOA graduates. Although Pinochet himself was not an SOA graduate, his influence is clearly held in high esteem. In 1991, visitors could view a note from Pinochet, and a ceremonial sword donated by him, on display in the office of the SOA commandant.
Courtesy of MISTER Chuck D. free mp3 download is here (Oh yeah, don’t say I never give you nothing). So get down to that and remember blame Bush all you like but keep on target- racism, privatisation, conservatism. Here, there and everywhere is deadly. The same partisan hacks who made fortunes contracting in Iraq are doing the same on the gulf coast, party connected, corrupt corporate disaster capitalists.
So Cheney has won the ‘mind’ of Bush-
In his speech to the American Legion, Mr Bush hit back, accusing Iran’s Revolutionary Guards of funding and arming insurgents in Iraq.
And he said Iran’s leaders could not avoid some responsibility for attacks on coalition troops and Iraqi civilians.”I have authorised our military commanders in Iraq to confront Tehran’s murderous activities,” he said. In a wide-ranging speech, Mr Bush also tackled the issue of Iran’s nuclear ambition – which Tehran insists is solely to provide power, but the US believes may be used to develop weapons.
Something just happened, the empire has shifted a gear and a detailed study has now been released assessing the US dispostion, basically go read it in full at Raw Story but some excerpts-
The study concludes that the US has made military preparations to destroy Iran’s WMD, nuclear energy, regime, armed forces, state apparatus and economic infrastructure within days if not hours of President George W. Bush giving the order. The US is not publicising the scale of these preparations to deter Iran, tending to make confrontation more likely.
The attitude of the UK is uncertain, with the Brown government and public opinion opposed psychologically to more war, yet, were Brown to support an attack he would probably carry a vote in Parliament. The UK is adamant that Iran must not acquire the bomb. Read the rest of this entry »
Security company Blackwater U.S.A. is buying Super Tucano light combat aircraft from the Brazilian manufacturer Embraer. These five ton, single engine, single seat aircraft are built for pilot training, but also perform quite well for counter-insurgency work. Brazil. The Super Tucano is basically a prop driven trainer that is equipped for combat missions. The aircraft can carry up to 1.5 tons of weapons, including 12.7mm machine-guns, bombs and missiles. The aircraft cruises at about 500 kilometers an hour and can stay in the air for about 6.5 hours per sortie. One of the options is a FLIR (infrared radar that produces a photo realistic video image in any weather) and a fire control system for bombing. Colombia is using the Super Tucanos for counter-insurgency work… The bubble canopy provides excellent visibility. This, coupled with its slow speed (versus jets), makes it an excellent ground attack aircraft. Blackwater already has a force of armed helicopters in Iraq, and apparently wants something a little faster, and more heavily armed, to fulfill its security contracts overseas. (h/t Wonkette)
Oh good, a huge mercenary army allied to American right wing christianists is building its air force.
Eric Prince is … currently in his late 30s, but at the time of founding Blackwater in 1996 he was believed to be the wealthiest person that had ever enlisted in the U.S. Navy SEALs… Eric Prince came from a very conservative evangelical Christian family in the state of Michigan. His father was a pull-yourself-up-by-your-bootstraps businessman who started a very successful auto parts manufacturing business called Prince Manufacturing. And what the company was best known for was inventing the now ubiquitous lighted sun visor. Any time you’re in your car and you pull down that visor and it lights up, that’s Eric Prince’s family that invented that.
A Bollywood star has set up home in Dolgellau and hopes to make north Wales a location for productions. Mayur Verma, 43, known as Raj, has moved to the town with his wife and two children and his mother, who is an established writer and film director.
“It’s a great location and it would certainly help to improve the tourist industry here because Asians love to visit the places they see in the films. When they see the hero singing a song at a certain location, they would want to have their picture taken on that spot, that’s the sort of following Bollywood has.”
Well ok it’s on the mainland and pretty far south, but he’s still in Gwynedd, that’s North Wales! Hey we’ve already had Ingrid Bergman, Sean Connery, Angeline Jolie & Demi Moore filming here (and of course Wales was India in ‘Carry on Up the Khyber’-and China in Tomb Raider 2, we’re so versatile!), honestly you can’t move most days for movie stars. I was down the hardware store and there was Johnny Depp pricing up the MDF sheets (he only does Tuesdays and every other Thursday- alternates with Penelope Cruz- y’know filming commitments). Check the movie map here.
And of course the village.
I will not be pushed, filed, stamped, indexed, briefed, debriefed, or numbered. I am not a number, I am a free man!
Ps. And watch out for the escaped buzzard.
Gordon Brown has ruled out setting a timetable for the withdrawal of British troops from Iraq, saying they still have “an important job to do”. The prime minister said in a letter to Liberal Democrat leader Sir Menzies Campbell the military still had “clear obligations to discharge”.He insisted setting a timetable would undermine those efforts.
Gee, is there a single part of his crap that isn’t a verbatim GOP talking point to defend the occupation? (No). And the Soldier boy is spinning from the same hymn sheet-
The head of the Army, General Sir Richard Dannatt, echoed Mr Brown’s comments in a speech in June which has only just been made public.
Gen Dannatt said British troops must prepare for a “generation of conflict” and continue to work for “some form of success” in Iraq.
Which all seems a tad at odds with-
Senior military commanders have told the Government that Britain can achieve “nothing more” in south-east Iraq, and that the 5,500 British troops still deployed there should move towards withdrawal without further delay.
So bottom line, the Whitehouse has spoken, to be nice they offered Brown some recycled talking points and left him to explain all the jolly good reasons why we should remain and hope no on notices the military commanders said-we’re done, time to leave. The grifters continue to play us. Iraq will be split into provinces ruled by US military bases, they’ve already done most of the ethnic cleansing.
Torturemada Alberto ‘Fredo’ Gonzales has been allowed to resign, like Rove going this is to better handle an upcoming legal issue which by them being out of the Whitehouse can now be better covered-up. Precisely what it is one can speculate (and salary hacks will, endlessly), it also might be something far worse and hitherto unknown which can now be kept concealed. In other words, there really is nothing to celebrate (well a bit, haha torture scum, enjoy spending more time with your family who if they are even remotely sane all fucking hate you) and in fact how pathetic it is when a war criminal (and enthusiastic enabler of Bush’s Texacutioneer reign) gets to resign on his own time rather than be hunted down, tried and locked up until he breathes his last behind bars? (still if he’s sent to the same joint as his bosses it’ll put new meaning into ‘taking Dick in the shower’)
When he was counsel to the Texacutioner, then-Texas Gov. George Bush, Gonzales reviewed every execution before his boss signed off on the order, and he never found a single reason–not sleeping lawyers, not claims of innocence, not the barbarism of lethal injection–to delay sending men and women to their deaths.
ALBERTO GONZALES justified the use of torture against detainees in the U.S. government’s “war on terror.” Now, the attorney general is ready to claim new powers in putting prisoners to death in U.S. jails–again, in the name of the “war on terror.”
Gonzales’ Justice Department is preparing to implement another poisonous provision quietly slipped into last year’s reauthorization of the USA PATRIOT Act that gives the attorney general the power to shorten the time that death row prisoners have to appeal convictions in federal courts.
Note he has gone, not any policy, nor this new hard line on the death sentence. Corporate news encourages the cult of personality/celebrity so focus becomes the man not the institution he serves, which suits the rulers only too well. Like the X-wing pilot said- Stay on target.