Cowering Before Capital

If this were debt cancellation and stimulus it would be interesting and the details are not out but I somehow doubt this will be much more than doing what the markets want, the level of debt created by financialisation and neoliberal policies is socially unsustainable unless police states become standard. Nowhere in the article are people mentioned, just banks & governments. The quote ‘inability of the Greek government to live within its means‘ is such a poisonous falsehood, as if financial institutions did not for years bribe key people into endless debt restructuring not because it helped them but because it made money for the banks. This is a merry game played by elites with the costs passed onto those not allowed to participate, yet the besuited oligarchs have the chutzpah to project their irresponsibility onto their victims. This is a rescue package within the rules of the game, better than what could have happened but ultimately it prolongs the scam. Neoliberalism, does not work, financialisation in place of actual productivity does not work (excuse the pun), capitalism unregulated and unconstrained does not work, Adam Smith was actually very clear on that despite what Randroids and laissez faire fundamentalists prefer to read into his works (by current standards he’d be labeled a socialist by corporate media). What we are seeing is a rolling breakdown of  systems of human activity because we are serving the economy not making the economy serve us.

Oh and some spurious wonky shit about elections, is it just me or are you sick of the (very masculine) obsession with numbers and deals and very little mention of the consequences to people of the cuts no one seems to want to think about (is this I suspect because they are all convinced of the neoliberal arguments and wouldn’t know a socialised market if they fell over one). Or am I just stupid for hoping just a tiny bit a coalition and public appetite for reform might stymie the cuts agenda of a lib/lab coalition because they can see the tories waiting to profit off the market fetishised ‘austerity’ measures (nice euphemism for class war and shock doctrine beloved by all those who fully expect not to suffer one iota because of them, until maybe that crime spike means it’s their home invaded and they get beaten the shit out of to give up all their valuables, no really I’m trying to feel sympathy for the self absorbed privileged twats).

What? You didn’t order a rant, well you got one anyway. Try the veal, I’ll be here all week… then I’ll be at http://www.tenpercent.org.uk/

Peace out motherfunkers.

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Yeah, But They Really Needed That Billion

In 2009, the worst economic year for working people since the Great Depression, the top 25 hedge fund managers walked off with an average of $1 billion each. With the money those 25 people “earned,” we could have hired 658,000 entry level teachers. (They make about $38,000 a year, including benefits.) Those educators could have brought along over 13 million young people, assuming a class size of 20.

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Every Cloud

Hedge funds have made large profits from Greek debt and providing insurance to overexposed European banks, it emerged on Sunday.

France signalled that private banks were likely to help in any rescue plan for Athens.

The hedge funds have been successful as traders anticipated that over-exposed European banks would drive a wave of selling against Greece, industry insiders told the Financial Times.

“There are a group of funds, perhaps three or four, that have played this as a huge sovereign basis trade, and made a lot,” said a strategist at one of London’s biggest hedge funds.

But as we know the wonder of the financiers is they can make money from a crisis, thus the Greeks will be safe knowing they will be ok as the hedge funds will use these profits to ensure human welfare…Oh no wait, the other thing, fuck the people over completely so they can buy themselves a third yacht. I knew it was one of the two!

Go: Cards Profit Off The Poor

This is a slick marketing operation to make money off the poorest people, disgusting. Given how much the govt. bailed out the banks and in fact own one they could have put into place regulations that mean people on benefits get free banking, of course they didn’t which tells its own story (even as neoliberalism is being proven not to work).(ht2 The Socialist Way)

People in some of the poorest parts of the country are having benefits paid onto pre-paid cards, but many are not aware of the costs involved. An internal e-mail from the Department for Work and Pensions expresses concern at the lack of customer awareness. One benefit office has received requests to pay benefits for almost 100 people directly onto these pre-paid cards, which incur charges.

The card providers say the cards promote financial inclusion. However when staff at the Clyde and Fife Benefits Delivery Centre contacted customers before processing the requests, they found that the majority of customers were not aware of the charges.

One of the companies mentioned in the e-mail sent 46 applications to the benefit office requesting benefits to be paid on to a GO: Card. The forms were accompanied by a letter from Go Money Solutions sales director, Steve Tobin. In the letter Mr Tobin says the forms were obtained “through face to face marketing” in the local area.

A GO: Card costs £10 to buy and a £7.50 annual management fee is charged after the first month. It costs a minimum of £1.25 and a maximum of £2.50 to have each benefit loaded on to the card and the same charges apply for each cash withdrawal.

5 Months of Theatre

As per the weather my connection is faltering so who knows if this gets posted… how thrilling we have 5 months of election pantomime as none of the three parties are significantly deviating from neoliberalism and them and the media have all agreed there must be cuts so orthodox economics that created the problems remains the only religion in town… this is at best an exercise in damage limitation. The Tories and their US borrowed deficit mantra will be vicious and evil, so will New Labour and the LibDems will if they sniff power, it is lesser evilism and please don’t expect me to get excited by it. Given the atrocious possibilities probably what might turn out best is a Labour hold but with no real majority so they have to rely on the LD’s, not because either offer real governence for the people but because left at the wheel on their own they are unconscionable shits. For those on good incomes none make much difference so that’s why the pundit/wonk class in all media (blogs included) can get excited about the small differences, they will not get the sharp end, for those on low incomes and those on welfare or subsidised by it they will be attacked brutally whoever wins, the difference is Tories do it with huge sincere hate filled smiles on their faces and New Labour hide those smiles slightly out of politeness to their abused base.

Harpy is right the priority should be ensure actual leftwing MP’s win-

The most important task for the Left in the upcoming GE is to make sure that the proven socialist MP’s such as John McDonnell, Jeremy Corbyn and Katy Clark remain a voice in Parliament.

Other than that, well for Wales if the Tories win it’s shit both ways, more devolution will make the Tories shit all over Wales in spite, less, and the Tories have power to shit all over Wales more directly, given the options if Cameron is PM I’d like Wales to be less connected to England (although Plaid is subtly split between conservatives and lefties, and the nationalists with conservative ideas worry me). I am on a low income and at times have to rely on welfare so I am simply engaged in survivalism as no party is interested in my continuing to breathe oxygen. I know an eliminationist vibe when I feel it and frankly all of them give the impression they would not mind a few million poor people ceasing to live. In that respect thirty years of neoliberalism have done its cultural job, poverty is because you are a morally bad person, so waste no thoughts on such failures, social darwinism and eugenics are implicit in how the institutions actually work (as opposed to the shiny stated functions) ask a migrant, ask a single parent, ask someone who is despised for surviving on £50 a week, and argue all you like how one party is not really like that but I don’t care what is said, I care about what actually happens and what has happened is thirty years of hate directed at the poorest by the wealthiest. So enjoy your wonky pundit shenanigans, forgive me for not getting excited by the colour of poison chalice I will be handed, I’m thinking about the poison.

PS. And not forgetting in the MP’s/prospective MP’s worth supporting, the great Salma Yaqoob.

Buying Something You Already Own

Charities could take over post offices, pubs and parks, says shadow communities secretary Caroline Spelman. The Conservatives have pledged to introduce a ‘community right to buy’ that will allow not-for-profit groups to take control of struggling local facilities, such as post offices, pubs and parks. Under the scheme, community groups would have first refusal to bid for publicly owned assets as well as failing privately owned ones, such as post offices, pubs and shops.

Also ‘failing privately owned ones’ will include previously privatised assets, so just how stupid do the Tories think people are? Election as national IQ test will be an amusing phenomenon. It’s better than just selling them off to their chums in business but the road to hell is paved with lesser evil good intentions. But where do charities & communities get the money (hmm maybe a loan from a bank, hey there see how that works)? They are creating the distinction that government and local councils are not ‘us’ they are neoliberal governance entities and so have no responsibility to the public and what they own on our behalf…is not ours, but hey lovely Davy boy will let us have first refusal on buying our own property. Ooh, have I just summed up Red Toryism?!?!? Privatisation but with the words *community*, *charity* plastered all over it?

Secret Inquests & The Workhouse

So now the govt can murder people and cover it up and force people below the poverty line into work that makes them worse off or else pay a fine, yep really they just made poverty and receiving welfare a crime. Apparently raising child is not work to our ruling classes (well it isn’t for them, they pay nannies and boarding schools to keep human emotions between them and their children at bay while servicing their careerism, but there’s a clue there, they pay people to do it, so why isn’t lower class child rearing labour valued? Hmm seems to me a subtext of eugenics by economics)

Coroners and Justice Bill. Following its Royal Assent on yesterday, the Act permits inquests in to deaths that include sensitive information that could risk national security can be held in secret.

The Welfare Reform Act’s most eye-catching provision is the decision by the government to fine unemployed lone parents with young children if they did not prepare for work while receiving benefits.

Earlier this week MPs overturned a Lords amendment that would have restricted the fines to lone parents whose youngest child was at least five years old. (ht2 HarpyMarx)