Tag Archives: economy

Daily Headline – 12/05/13

Conservative Lord Young: exploit cheap labour

Lord YoungThe prime minister’s adviser on enterprise Lord Young has told the cabinet that the economic downturn is an excellent time for new businesses to boost profits and grow because labour is cheap.

Instead of trying to improve conditions for workers the ruling coalition is focusing on the positive side to recession, cheap labour and as we all know, cheap labour is good for business and good for profits.

If ever there was a clear sign of the governments callous attitude towards the working class and their lust for profits over people here it is.
Only business owners should be voting for the coalition, anyone else is voting against their own interests.

Conservative = Scum

Daily Headline – 22/04/13

Capitalism and health, a recipe for disaster

Glaxosmithkline logoThere have been many examples over the years and known facts about the operations of pharmaceutical companies so for those who are aware the latest news about Glaxo will come as no surprise at all.

GlaxoSmithKline (GSK) the pharmaceutical giant is in trouble with the Office of Fair Trading (OFT) over paying rival companies to delay the release of new medicines.

Of course the OFT is focusing on its job which is to ensure fair competition which of course is one issue (and one that free market capitalism is not able to resolve, government regulations are vital to ensure, under a capitalism system that competition can thrive).

The second issue and one that too often gets ignored is that businesses like these are deliberately withholding life saving medicines in order to maximise the profitability and lifespan of their old medicines.

How is this travesty of justice not made illegal? How are business allowed to have control of something of such vital importance? If capitalism cannot work in the interests of the people then it shouldn’t be operating at all!

In the short term, bring the pharmaceutical companies under public control, in the long term, abolish capitalism.

For more on the details of this story click here.

Daily Headline – 08/04/13

Is China lined up for economic collapse?

Chinese finance flagAs the developed world is still suffering from the 2007 global economic crisis with austerity the weapon of choice by the ruling elite around the world is China, who though has not been immune to the global effects as demand for Chinese manufacturing declined slightly as belts were tightened, lining itself up for the same?

Chinese banks have long been ‘cooking the books’ and it’s getting worse, credit for loans is available to those with bad credit on an unprecedented scale in China. Just the same as was in the US that kicked off the global recession.

The problem is not just how much risk there is in the Chinese banking sector but ‘risky loans’ being shifted to the lightly regulated ‘shadow banking’ institutions – mainly trust companies, brokerages and insurance companies.

According to Reuters:
Trust assets increased 55 percent in 2012 to 7.5 trillion yuan ($1.21 trillion), according to the China Trustee Association, while funds entrusted to brokerages by banks soared more than fivefold to 1.61 trillion yuan.

Capitalism doesn’t work, western capitalism or Chinese capitalism, it doesn’t matter. Banking, finance and ‘the markets’ are always a catastrophe waiting to happen.

Daily Headline – 05/04/13

HBOS bank execs ran company to collapse

HBOS logoA report entitled ‘An Accident Waiting to Happen’ HBOS (Halifax & Bank of Scotland) bosses have been found to be incompetent and guilty of colossal mismanagement that led to the near collapse of the company that was rescued by Lloyds in 2008/2009.

The report went on to say that even had there not been a global economic crisis the company would have still collapsed such was the ineptitude of the three executives running the company.

HBOS is/was the largest lender of UK mortgages.

The government expects the working class to be responsible but what about the ruling elite?! Where is their punishment and condemnation? Jeopardising people’s savings and homes with absolutely no regard to them at all. Disgraceful.

For more details click here.

Daily Headline – 24/03/13

UKIP; ‘Get your money out of there while you’ve still got a chance’

UKIP full of shitThe moron leader of British political party UKIP Nigel Farage has told Brits to ‘Get your money out of there while you’ve still got a chance’ in a reference to those living in the Mediterranean.

Blaming the EU and suggesting that people should withdraw their money, with the UK in dire economic state should we also withdraw our money?

Maybe we should put it under our bed?

It reminds me of the Chinese woman who withdrew her life savings before the year 2000 fearing it would all be lost because of Y2K only for a fire to burn her home and money all away!

Yes the EU bank levy is crazy but UKIP’s alternative is also crazy!

Daily Headline – 23/03/13

UK outlook ‘negative’

British austerity flagCredit rating agency Fitch has changed the UK’s outlook to negative, setting up a future downgrade.

The Conservatives came to power on the grounds of reducing public debt…

“Fitch said Britain’s lack of growth and growing debt mountain meant there was a “heightened probability of a downgrade in the near term”.”

Failed again tories!

Instead the Conservative/Liberal coalition has blindly followed ideologically driven policies that have no possibility of working out for the country.

Not that they care of course! Their policies are aimed, as they always have been, at making the rich wealthier and the poor poorer.

“Chris Leslie, Labour’s shadow Treasury minister, said: “This is yet another blow to a downgraded chancellor who made keeping the confidence of the credit rating agencies the number one test of his economic policy. What really matters are the economic realities which Fitch are responding to including, as their statement says, ‘the persistently weak performance of UK growth’.””

Indeed Chris but don’t forget it was your party that got us into this mess!

If you are going to go down the party politics route then the top four parties (Con, Lab, Lib, UKIP) can be instantly dismissed.
Though real change is not with party politics, it’s with the people, it’s with dissent.

Daily Headline – 20/03/13

Cyprus rejects EU bailout

Cyprus flagCypriot MPs all vote to reject the EU bailout, the terms had been amended to to save the poor, there would be no levy on savings under €20,000 but still it was rejected.

If you are Cypriot and have under €20,000 of savings in the bank then surely you would have been happy at the deal, the poor wont have to pay for the crises and the wealthier will.

However Cypriots are up in arms! One could assume that the vast majority have more than €20,000 of savings, is Cyprus one of the richest countries in the world?

Admittedly this is coming from the same people who voted not to unite their island while those in the illegally occupied north voted yes!

Maybe the Cypriots would be happy if the 0% line was raised to €50,000 or do they think someone else should help keep their country afloat, can they not accept responsibility for their own decisions?

With the mafia, dodgy Russian money, Greece, Turkey and the EU it’s about time the Cypriots woke up, grew up and took control of their lives, the reality is capitalism doesn’t work, stop keeping it on life support!

Daily Headline – 19/03/13

Banks, the corporate world can’t be trusted

Hongkong and Shanghai Bullshit Corporation

Hongkong and Shanghai Bullshit Corporation

More evidence has come to light over HSBC’s money laundering and tax evasion facility.

As early as 2003 it has been known to authorities that, to put it politely, HSBC has been lax on anti-money laundering practices. Failure by the banking giant to do anything about it led to regulations being tightened in 2003 and then again in 2010.

Still HSBC continued ignoring the law and clearly having no ethics or morality.

In 2012 HSBC set up offshore accounts for drug-dealers and other criminals. Also in 2012 HSBC was fined $1.9 billion USD for ignoring US money laundering laws.

Now in 2013 HSBC comes under fresh accusations from Argentina stating that they are using fake receipts to facilitate money laundering and tax evasion to the sum of £50m

HSBC said that it would cooperate with the investigation, adding that the allegations were “of great concern”
Yeah, a great concern that you got caught again!

The future…

By Leon J Williams

As the economic crises deepens and businesses continue to go under some workers are banding together, taking over their workplace and keeping production going.

The bakers keep baking, the teachers keep teaching and the doctors keep healing.

As people start to run out of money due to the dire finance and banking situation these new worker run businesses continue, in free exchange with each other.

The teacher goes to the baker and gets what they need, the baker’s children go to school and get educated etc.

The industries that these worker businesses belong to continue to be regulated to ensure high standards, some people call the regulators unions, some call them coregs which comes from cooperative regulators.
Either way they are groups made up of representatives within the industry.

For example, there are 300 universities in a society, society is divided up into 50 suitable geographic areas, the universities from each geographic area send 1 person to be part of the coreg, these representatives must be experts in their field.

Some problems rose, some people who did not contribute to society and living with the old greed mentality would go to a new worker business and take, for example, 5 televisions, one for every room in their home, meaning when other people went to the business there are no televisions left, or not enough to go round.

So, a new system was introduced, the social contract.

To be part of this new society, people would have to agree to a certain set of rules:

No individual can force another individual to do something against their will.

A person must be ‘contributing’ to society in order to receive the benefits of the society.

Contributing means being one of the following:

Employed (in a worker business)
Self-employed
In education

All self-employed people and workers businesses must belong to a worker regulatory body (coreg).

Employment cannot be denied to anyone who agrees to this social contract. This does not mean that an uneducated person can become a brain surgeon, if a person wants to do this job they must become qualified to do so but if, for example, a person wants to become a baker, they can go to their local bakery or regional bakery organisers and seek a suitable placement to be trained on the job.

Food example:

Mutual aid
The benefits to being part of this new society are a set of guarantees:

A home
Food
Education
Health
Security
Transport
Services

The future is in our hands, take control!

The abolition of money

By Anton

Capitalism has lowered the masses to the point where they have to sell themselves to survive. Rich people have the commodities and money they have either through inheritance or exploitation, and their father, grandfather or whoever they got the money from would have exploited people ‘lower’ than him to get that money.

A common argument of those among or brainwashed by the bourgeoise against anarchism (or communism, socialism et cetera) is that with the abolition of money (which they claim is the sole thing that motivates people) people will not work. So, why do we work? For money is the simple answer, but let us go deeper. What to we use money for? We use money to buy commodities, to buy food, to pay the bills or the rent or the mortgage.

But in an anarchist society, there is no money; money has been abolished. Why does one work then? Let us say you require a coat, for whatever reason, and your job in your area is, let’s say, a shoemaker. You go up to the tailor, and say:
“Please may you make me a coat. Here are my measurements. I would like it to be x, y and z.”
What does the tailor say? Does he say “no, I do not need to work, I have my food, I have my house, I’m happy.”?
No, the tailor is wearing shoes (I would hope so anyway).
Whom made the tailor them shoes? You.

The tailor makes you a coat because without you, he would not have shoes. By abolishing money, we are removing exploitation, corruption, and quite frankly an unnecessary process in acquiring commodities. In an anarchist society, one would be free to do whatever they wished, as long as an act did not harm others or their liberty.