"The parents of an Iraq war veteran who committed suicide and members of Congress on Wednesday questioned why there's not a comprehensive tracking system of suicide among Iraq and Afghanistan veterans. Mike Bowman, of Forreston, Ill., said his son, Spc. Timothy Bowman, 23, is a member of the "unknown fallen" not counted in statistics. His son, a member of the Illinois National Guard, took his own life in 2005 eight months after returning from war. Bowman said he considers his son a "KBA" — killed because of action. ,, Awareness of suicide among Iraq and Afghanistan veterans was heightened earlier this year when the Army said its suicide rate in 2006 rose to 17.3 per 100,000 troops — the highest level in 26 years of record-keeping. The Department of Veterans Affairs tracks the number of Iraq and Afghanistan veterans who commit suicide, but only if they have been discharged from the military." (Yahoo News, 13 December)
Bowman's parents may be puzzled about the lack of information of veterans' suicide, but it isn't hard to figure that such statistics would hardly help recruiting efforts. RD
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
Friday, December 21, 2007
Thursday, December 20, 2007
AMERICAN NIGHTMARE (2)
"More people are requesting emergency food aid and more homeless families with children are seeking shelter, concludes a 23-city survey released Monday by the U.S. Conference of Mayors. Four of five cities say requests for food aid rose an average of 12% from the previous year, according to the survey for the period covering November 2006 through October 2007. Most cities had reported a jump in such requests the prior year as well. Ten of 14 cities with data on homeless families say more families with children sought emergency shelter and transitional housing. About half of the cities say their overall homeless problem increased. Collectively, the cities report giving shelter to 193,183 people." (USA Today, 17 December) RD
AMERICAN NIGHTMARE
The so-called American dream wherein once poor immigrants became wealthy is turning out to be a nightmare for many American workers.
"The current deflation of home prices is changing America. It's a real estate storm that made landfall like a slow-moving Gulf Coast hurricane here in south Florida and in other once-booming housing markets last year. In recent months it has gathered momentum and spread, shaping up to become perhaps the worst home-price slump since the 1920s and '30s. The bust promises to have lasting effects. Among them: It is defining the limits, for now, of what President Bush has called the "ownership society." A surging foreclosure rate means that the rate of homeownership, after a historic rise, is falling." (Yahoo News, 10 December) RD
"The current deflation of home prices is changing America. It's a real estate storm that made landfall like a slow-moving Gulf Coast hurricane here in south Florida and in other once-booming housing markets last year. In recent months it has gathered momentum and spread, shaping up to become perhaps the worst home-price slump since the 1920s and '30s. The bust promises to have lasting effects. Among them: It is defining the limits, for now, of what President Bush has called the "ownership society." A surging foreclosure rate means that the rate of homeownership, after a historic rise, is falling." (Yahoo News, 10 December) RD
Some Socialist Theory
Another audio file of the Socialist Thinkers series can be found at Darren's blog .
This time it is the Russian Marxist George Plekhanov and the Materialist Conception of History .
And once again the speaker is Stephen Coleman .
Capitalist Charity
Clive Cowdery, chairman of Resolution , announced yesterday that he planned to sell some or all of his holding and would transfer around £20 million to a new charity The Resolution Trust. The trust will ensure continued funding for the work of Cowdery's financial education project The Resolution Foundation .
The £5 billion sale to Pearl of the group he founded netted him a personal £150 million . Cowdery's stake grew in value by some £25 million in the few weeks between him announcing a merger with Friends Provident, with Resolution shares at 616p, and selling to rival Hugh Osmond of Pearl for 720p, thanks partly to sparking a bidding war between Pearl and Standard Life. So he can well afford to be generous with his philanthropic gestures . And what , pray we ask , is this charitable institution he is financing .
The Resolution Foundation is an independent research and policy organisation formed in September 2005 to study "how people on low to moderate incomes fair in the mixed welfare economy" with a particular interest in promoting increased social mobility. The foundation's first project was the forerunner of the government's review chaired by Aegon UK chief executive Otto Thoresen into the creation of a national advice service dispensing "generic" financial guidance. It commissioned a study from McKinsey and Deloitte, whose proposed model "led to extensive lobbying on the benefits to individuals and the nation", the foundation said. It is now embarking on a new project, "to promote a fair and efficient supply of elderly care, with a focus on people on low to moderate incomes".
Forgive my ignorance , but doesn't all that just add up to a fancy way of saying it does market research and offer financial advice for investment funds ? Tax-free , of course .
The £5 billion sale to Pearl of the group he founded netted him a personal £150 million . Cowdery's stake grew in value by some £25 million in the few weeks between him announcing a merger with Friends Provident, with Resolution shares at 616p, and selling to rival Hugh Osmond of Pearl for 720p, thanks partly to sparking a bidding war between Pearl and Standard Life. So he can well afford to be generous with his philanthropic gestures . And what , pray we ask , is this charitable institution he is financing .
The Resolution Foundation is an independent research and policy organisation formed in September 2005 to study "how people on low to moderate incomes fair in the mixed welfare economy" with a particular interest in promoting increased social mobility. The foundation's first project was the forerunner of the government's review chaired by Aegon UK chief executive Otto Thoresen into the creation of a national advice service dispensing "generic" financial guidance. It commissioned a study from McKinsey and Deloitte, whose proposed model "led to extensive lobbying on the benefits to individuals and the nation", the foundation said. It is now embarking on a new project, "to promote a fair and efficient supply of elderly care, with a focus on people on low to moderate incomes".
Forgive my ignorance , but doesn't all that just add up to a fancy way of saying it does market research and offer financial advice for investment funds ? Tax-free , of course .
Wednesday, December 19, 2007
Citizens Advice - Workers being exploited
Tens of thousands of vulnerable workers are being exploited by rogue employers, Citizens Advice has warned.
Last year Citizens Advice Bureaux across the UK dealt with more than half a million employment related queries. It estimates 60% of these involved the denial of statutory workplace rights such as the minimum wage, paid holiday and sick leave and pay. Some workers were also required to work excessively long hours or were denied proper rest breaks, the report said. Others were summarily dismissed for being pregnant. Other high risk groups include migrant workers and those who because of age, disability of lack of skills, would struggle to find another job .
"There are still far too many rogues out there, flouting the law, ignoring rules without sanction and profiting from vulnerable workers " -David Harker, Citizens Advice
As always , with people acting with good intentions , this report simply puts it all down to the some "bad apple" bosses who are using unfair practices to gain an advantage over the "responsible" employer and the problem can be removed by government reform of the law and the creation of government watch-dogs . That isn't the real problem or the real solution .
First , workers , especially the disadvantaged worker , must organise industrially through trade unionism to combat the immediate effects of exploitation , the stronger defending the weaker . An injury to one , is an injury to all .
But , then , it is necessary to move beyond mere defence and to-wards a position where the root cause of exploitation is recognised - the real problem - and that would be the capitalist system . And the political solution is not going cap-in-hand to the apologist parties of capital for amelioration but to once again organise but this time to abolish for once and for all this parasitic society where a minority live off the labours of the majority .
Last year Citizens Advice Bureaux across the UK dealt with more than half a million employment related queries. It estimates 60% of these involved the denial of statutory workplace rights such as the minimum wage, paid holiday and sick leave and pay. Some workers were also required to work excessively long hours or were denied proper rest breaks, the report said. Others were summarily dismissed for being pregnant. Other high risk groups include migrant workers and those who because of age, disability of lack of skills, would struggle to find another job .
"There are still far too many rogues out there, flouting the law, ignoring rules without sanction and profiting from vulnerable workers " -David Harker, Citizens Advice
As always , with people acting with good intentions , this report simply puts it all down to the some "bad apple" bosses who are using unfair practices to gain an advantage over the "responsible" employer and the problem can be removed by government reform of the law and the creation of government watch-dogs . That isn't the real problem or the real solution .
First , workers , especially the disadvantaged worker , must organise industrially through trade unionism to combat the immediate effects of exploitation , the stronger defending the weaker . An injury to one , is an injury to all .
But , then , it is necessary to move beyond mere defence and to-wards a position where the root cause of exploitation is recognised - the real problem - and that would be the capitalist system . And the political solution is not going cap-in-hand to the apologist parties of capital for amelioration but to once again organise but this time to abolish for once and for all this parasitic society where a minority live off the labours of the majority .
GETTING AWAY FROM IT ALL (2)
Ever helpful in assisting workers to enjoy a holiday away from the toil we thought we would pass on this piece of information we spotted on the website of Emirate Airways. It should make a nice change from your usual holiday travel.
" Emirates now offers enhanced private suites in First Class on selected aircraft. The new private suite is fully equipped with individual storage, a coat closet, vanity desk and personal mini bar. The extra-large seat reclines to become a fully flat bed, and the 23" wide-screen LCD screen features over 600 channels of nice entertainment. Our award winning, multilingual cabin crew provide an unprecedented level of personal service, including a la carte gourmet cuisine and an extensive wine list." RD
" Emirates now offers enhanced private suites in First Class on selected aircraft. The new private suite is fully equipped with individual storage, a coat closet, vanity desk and personal mini bar. The extra-large seat reclines to become a fully flat bed, and the 23" wide-screen LCD screen features over 600 channels of nice entertainment. Our award winning, multilingual cabin crew provide an unprecedented level of personal service, including a la carte gourmet cuisine and an extensive wine list." RD
GETTING AWAY FROM IT ALL
After a hard year slogging away at the workplace you might fancy an idyllic holiday but we don't think you will be booking up at Richard Branson's island. His friend billionaire Larry Page is secretly getting married there. "When a man is worth $20bn, however, certain secrets are impossible to keep. On Wednesday, the New York Post revealed the location and the expected number of guests – 600. It appears the guests will fly into St Thomas, the biggest of the Virgin Islands, and then take smaller planes and helicopters to Virgin Gorda, a 40-minute ride. Necker Island is so small and exclusive it does not – intriguingly – even appear on the Google map service. (A consequence, perhaps, of Mr Page's friendship with Branson.) The island's website, however, reveals that each of its 14 Balinese-style houses, blessed with pools, jacuzzis, private chefs and other luxuries, costs $46,000 (£23,000) a night – when available." (Independent, 8th December) RD
All very fishy
It sounds mad: shipping UK-caught langoustine thousands of miles to be processed, then back again to be turned into breaded scampi and put on sale. That's what leading seafood producer Young's started doing last year. We read :
The journey for the scampi that ends up on dinner plates and in pub baskets across the country starts in traditional style - the catch being landed by inshore fishing boats in ports like Stornoway. From there it is taken by lorry to the Scottish border town of Annan, which is where things start to change.
In the past the scampi was shelled by machine in Scotland. Now it is taken first to Grangemouth and loaded into containers, which are in effect giant freezers.
They are shipped to Rotterdam before being loaded onto a huge container ship alongside around 7,000 other containers for the long haul to Bangkok.
The key part of the process takes place in Thailand, as the langoustine are peeled by hand .
The long journey home from Bangkok takes the frozen, peeled langoustine through Rotterdam again before a short hop across the North Sea to Grimsby, where the scampi is breaded - and then delivered to our supermarkets and our plates.
The whole round-trip is about 17,000 miles (27,353km).
"They cover this up and distract it by saying it's carbon neutral, but in truth this is about minimising costs and maximising profits." says Willie Mackenzie of Greenpeace.
The motives of Youngs Seafoods is indeed exactly what Greenpeace claim , grubby lucre, and nothing at all to do with energy conservation or protecting the enviroment from CO2 emissions . The local workers cannot compete, even if, on Britain's minimum wage, with the Thai prawn-peelers who are paid 25p per hour.
The company announced 120 job cuts when it transferred scampi shelling operations to Thailand and leaves less than 50 workers at the Dumfries facility.
John Holroyd, of the T&G, said: “This is all about exploiting cheap labour abroad..."
Another company , Dawnfresh of Uddingston , in 2006 shed 70 staff to send Scottish prawns to China for shelling before being returned to the UK for sale.
The journey for the scampi that ends up on dinner plates and in pub baskets across the country starts in traditional style - the catch being landed by inshore fishing boats in ports like Stornoway. From there it is taken by lorry to the Scottish border town of Annan, which is where things start to change.
In the past the scampi was shelled by machine in Scotland. Now it is taken first to Grangemouth and loaded into containers, which are in effect giant freezers.
They are shipped to Rotterdam before being loaded onto a huge container ship alongside around 7,000 other containers for the long haul to Bangkok.
The key part of the process takes place in Thailand, as the langoustine are peeled by hand .
The long journey home from Bangkok takes the frozen, peeled langoustine through Rotterdam again before a short hop across the North Sea to Grimsby, where the scampi is breaded - and then delivered to our supermarkets and our plates.
The whole round-trip is about 17,000 miles (27,353km).
"They cover this up and distract it by saying it's carbon neutral, but in truth this is about minimising costs and maximising profits." says Willie Mackenzie of Greenpeace.
The motives of Youngs Seafoods is indeed exactly what Greenpeace claim , grubby lucre, and nothing at all to do with energy conservation or protecting the enviroment from CO2 emissions . The local workers cannot compete, even if, on Britain's minimum wage, with the Thai prawn-peelers who are paid 25p per hour.
The company announced 120 job cuts when it transferred scampi shelling operations to Thailand and leaves less than 50 workers at the Dumfries facility.
John Holroyd, of the T&G, said: “This is all about exploiting cheap labour abroad..."
Another company , Dawnfresh of Uddingston , in 2006 shed 70 staff to send Scottish prawns to China for shelling before being returned to the UK for sale.
Horse Sense
Millions of pounds spent each year on the sperm of race-winning horses. The owner of one superstar stud can earn £25 million a year. British breeders can typically expect to pay more than £500 a time in stud fees, with some American horses commanding fees of up to £10,000. Stallions reputed for producing good quality offspring come at a premium, and can fetch far higher fees.
Research published today will cast doubt on the rationale that bringing champion horses together will produce potentially race-winning foals. a horse's lineage is far less important than was previously thought. Genes account for only 10% of the prize money a horse wins in its lifetime
"The offspring of expensive stallions might tend to win more money, but not necessarily because they have inherited the best genes . It is likely those breeders best able to pay high stud fees are also those who are able to spend more on care of the horse, how it is trained, and who rides it - all of which will contribute more to how much it will win."
We in the socialist movement have been arguing that what genes determine in humans are the physical characteristics and the capacities of the brain, but not the actual behaviour and behaviour patterns . In other words, human nature is one thing, human behaviour another.
It makes horse sense .
Research published today will cast doubt on the rationale that bringing champion horses together will produce potentially race-winning foals. a horse's lineage is far less important than was previously thought. Genes account for only 10% of the prize money a horse wins in its lifetime
"The offspring of expensive stallions might tend to win more money, but not necessarily because they have inherited the best genes . It is likely those breeders best able to pay high stud fees are also those who are able to spend more on care of the horse, how it is trained, and who rides it - all of which will contribute more to how much it will win."
We in the socialist movement have been arguing that what genes determine in humans are the physical characteristics and the capacities of the brain, but not the actual behaviour and behaviour patterns . In other words, human nature is one thing, human behaviour another.
It makes horse sense .
Chocolate Class War
Cadbury's announced this year that it would cut 7,800 jobs world wide and is currently fighting union resistance to factory closures in the UK .
However , billionaire corporate raider Nelson Peltz, who has been building a stake in the confectionery giant has been demanding that Cadbury Schweppes should return as much as £1.7 billion to shareholders after the spin-off of its US drinks business next year or face an attempted boardroom coup . He and his confederates dmand that by adopting more aggressive trading margin targets, Cadbury could push the value of its shares up to 970p and pay a special dividend of 80p per share – handing back £1.7bn in total – when the drinks business is spun off. The stock was up 15p to 623p yesterday. Cadbury's chief executive promised this year to raise the company's trading margins from about 10 per cent currently to a mid-teens percentage by 2011. Mr Peltz says the target should be closer to 20 per cent
The veteran financier made hundreds of millions of dollars in profit from previous forays in the food and drink business, most recently buying Snapple for $300m (£149m) and selling it three years later for $1.5bn.
So there is the answer to why jobs are lost or out-sourced - to fill the pockets of investors
Tuesday, December 18, 2007
Xmas Presents
Ethical gifts are billed as the perfect antidote to the conspicuous consumerism of the festive season. Whether buying a goat for a family in Africa, or the materials to build a toilet, we are told that these simple items can make a big difference to people in developing countries.
Such presents have been growing in popularity and last year Oxfam sold £3.9 million worth of ethical gifts . The charity has this year launched a celebrity-led campaign to encourage more of us to send useful gifts - which may include items such as dung, condoms or even a can of worms - to help communities in the developing world.
However UK-based education charity Worldwrite says that far from being welcome, these gifts are often seen as "demeaning and patronising". Worldwrite also argues that far from encouraging development, buying someone a goat or a hoe for Christmas only conspires to keep recipients at the same subsistence levels year after year. "People in the developing world are like us - they know the sorts of things we have and they want them too " . They felt some projects epitomised "low horizons" and irritated locals who say they are offered "peanuts" with endless "accountability" and "target" forms to fill out.
Worldwrite's views are echoed by Ghanaian De Roy Kwesi Andrew, a teacher and translator, who says: "Our people and government have become merely the passive, obedient pupils to be preached to."
As a local teacher in Ghana , Godbless Ashie , puts it : "Africans have big brains, big aspirations and want to live in liberty."
We at Socialist Courier say the best Xmas present for everybody would be for all of us to put an end to capitalism and for us all to achieve socialism and put an end to exploitation and pauperism .
Such presents have been growing in popularity and last year Oxfam sold £3.9 million worth of ethical gifts . The charity has this year launched a celebrity-led campaign to encourage more of us to send useful gifts - which may include items such as dung, condoms or even a can of worms - to help communities in the developing world.
However UK-based education charity Worldwrite says that far from being welcome, these gifts are often seen as "demeaning and patronising". Worldwrite also argues that far from encouraging development, buying someone a goat or a hoe for Christmas only conspires to keep recipients at the same subsistence levels year after year. "People in the developing world are like us - they know the sorts of things we have and they want them too " . They felt some projects epitomised "low horizons" and irritated locals who say they are offered "peanuts" with endless "accountability" and "target" forms to fill out.
Worldwrite's views are echoed by Ghanaian De Roy Kwesi Andrew, a teacher and translator, who says: "Our people and government have become merely the passive, obedient pupils to be preached to."
As a local teacher in Ghana , Godbless Ashie , puts it : "Africans have big brains, big aspirations and want to live in liberty."
We at Socialist Courier say the best Xmas present for everybody would be for all of us to put an end to capitalism and for us all to achieve socialism and put an end to exploitation and pauperism .
Monday, December 17, 2007
Coleman on Dietzgen
Once more Brooklyn Darren of Inveresk St Ingrate has uploaded another Stephen Coleman talk .
This time the subject is Joseph Dietzgen , the working class materialist philosopher .
The talk can be downloaded in two parts here
CRISIS, WHAT CRISIS?
According to the newspapers and the television we are going through a crisis, but Wall Street would disagree. Of course a lot of workers are being evicted from their houses and many workers find themselves in debt but come on let the good times roll.
"Thousands of bankers at Goldman Sachs and Lehman Brothers will celebrate record bonus payments today, despite the global credit crunch. Lehman kicked off the good cheer as it emerged that it had handed Richard Fuld, 61, its chief executive, a $35 million (£17 million) share award. Goldman began to tell staff on both sides of the Atlantic yesterday of their share of what is expected to be an $18.8 billion pool - $2.3 billion more than last year's awards." (Times, 13 December)
Being a plumber, an engineer or a clerk doesn't seem such a good idea, does it? Ever heard of a clerk with a £17 million bonus? RD
"Thousands of bankers at Goldman Sachs and Lehman Brothers will celebrate record bonus payments today, despite the global credit crunch. Lehman kicked off the good cheer as it emerged that it had handed Richard Fuld, 61, its chief executive, a $35 million (£17 million) share award. Goldman began to tell staff on both sides of the Atlantic yesterday of their share of what is expected to be an $18.8 billion pool - $2.3 billion more than last year's awards." (Times, 13 December)
Being a plumber, an engineer or a clerk doesn't seem such a good idea, does it? Ever heard of a clerk with a £17 million bonus? RD
Sunday, December 16, 2007
The usual Xmas story
A shortage of affordable housing has left 130,000 children homeless in England this Christmas – an increase of 128 per cent in the past decade, according to research by the shadow housing minister Grant Shapps.
The Tories claim the impact of homelessness on children goes beyond the misery of not having a permanent roof above their heads, making them far more likely to suffer from medical and social problems. The "social failure" of child homelessness is often followed by mental, physical and educational disadvantage. A homeless child is twice as likely to be admitted to an Accident & Emergency department, four times as likely to have respiratory infections and six times as likely to suffer speech impediments, as a child with a fixed address.
Director of the homeless charity the Simon Community, welcomed the report and its conclusions, saying: "What children need is a stable, healthy environment with people who love them, but also where they aren't constantly moving from one piece of low-quality housing to another, or have the threat of that hanging over them, because the housing stock in the UK is so desperately limited."
Mr Shapps said: "For 130,000 homeless children in England, this Christmas is unlikely to be much fun... "
The Tories claim the impact of homelessness on children goes beyond the misery of not having a permanent roof above their heads, making them far more likely to suffer from medical and social problems. The "social failure" of child homelessness is often followed by mental, physical and educational disadvantage. A homeless child is twice as likely to be admitted to an Accident & Emergency department, four times as likely to have respiratory infections and six times as likely to suffer speech impediments, as a child with a fixed address.
Director of the homeless charity the Simon Community, welcomed the report and its conclusions, saying: "What children need is a stable, healthy environment with people who love them, but also where they aren't constantly moving from one piece of low-quality housing to another, or have the threat of that hanging over them, because the housing stock in the UK is so desperately limited."
Mr Shapps said: "For 130,000 homeless children in England, this Christmas is unlikely to be much fun... "
Saturday, December 15, 2007
PROPERTY OWNING DEMOCRACY?
The then Prime Minister Margaret Thatcher was reputed to be the one to think up the phrase "property owning democracy". It was possibly dreamed up by one of her advisers, just like her "the lady is not for turning". Who ever thought up the phrase must wish they hadn't bothered as more and more evidence highlights re-possessions and mortgage payments defaults.
"In a damning report, the Citizens Advice Bureau said that irresponsible lending decisions and "aggressive arrears management" by sub-prime lenders was causing increasing numbers of house owners with credit problems to miss mortgage payments or to have their homes repossessed. Numbers of home repossessions, already at a seven year high, are expected to rise by 50 per cent this year to 45,000, according to the Council of Mortgage Lenders."
(Times, 12 December) RD
"In a damning report, the Citizens Advice Bureau said that irresponsible lending decisions and "aggressive arrears management" by sub-prime lenders was causing increasing numbers of house owners with credit problems to miss mortgage payments or to have their homes repossessed. Numbers of home repossessions, already at a seven year high, are expected to rise by 50 per cent this year to 45,000, according to the Council of Mortgage Lenders."
(Times, 12 December) RD
HOW FAST IS FAST FOOD?
We live in a competitive crazy society, but even by capitalism's standards the following news item is bizarre. "The question of just how long it should take to eat fast food is being answered by the burger giant McDonald's, which is making customers finish within 45 minutes or face a charge of £125. Motorists who care to linger over their McMeals for any longer at some drive-throughs are receiving demands from a private company that manages car parks for the burger chain. If they do not pay, the fee rises steadily and customers are threatened with court action and approached by bailiffs." (Guardian, 11 December)
In order to maximize profits McDonalds are resorting to bailiffs and courts. Capitalism just gets crazier and crazier RD
In order to maximize profits McDonalds are resorting to bailiffs and courts. Capitalism just gets crazier and crazier RD
Rich Pickings
Been a while since Socialist Courier revealed the take home pay of the the rich . So we now point to Stewart Milne who maintained his position as one of Scotland's best-paid directors by taking home more than £7.5m in salary, benefits and dividends . Between them, the company's directors shared pay and benefits of £4.4m, of which more than one-third, £1,547,498, was taken by Milne. The company also paid out dividends of £6.2m, of which £6m went to Milne himself.
Milne's total pay packet has actually fallen from last year when he was a beneficiary of a £10.8m package, but £5m of that was in the form of a pension contribution.
Nothing like whatis available in Wall St though .
According to the Independent "The young guns at the investment bank Goldman Sachs – none of them over 40 years old – were unmasked yesterday, prompting a wave of adulation and envy among their colleagues, and another bout of handwringing about Wall Street's ability to make multibillion-dollar profits even as millions of ordinary people face losing their homes
Dan Sparks and two underlings, Josh Birnbaum and Michael "Swenny" Swenson, placed what were in effect giant bets against the US mortgage market at the start of the year and watched their winnings tick higher and higher as the rising numbers of mortgage defaults spiralled into a worldwide financial crisis.
The trio themselves are in line for bonuses of about $10m apiece from a record bonus pool at Goldman of about $19bn
Friday, December 14, 2007
Troops Out of Iraq
Just only 2% of Basra residents believe that the presence of British troops since 2003 has had a positive effect , says a BBC poll . But , of course , they were never sent there in the first place for the benefit of the local inhabitants , no matter how much and how often Tony Blair tries to keep preaching to us .
IT IS GRIM UP NORTH
Many misguided southerners may sometimes envy the residents of the highlands of Scotland. After all they can look out their window and see the bonnie snow-clad mountains, but it is not so romantic if you happen to be as skint as many of the highland workers are.
"Rising energy prices means that more than half a million households are living in fuel poverty in Scotland. Figures published today show that households spending more than 10% of their income ,on heating has worsened since 2004 when it accounted for 18% of households. Now the total is 23%, or 543,000 homes, according to Scottish Government figures." (Herald, 11 December)
Half a million households shivering in the cold is far from being an idyllic Scottish scene. RD
"Rising energy prices means that more than half a million households are living in fuel poverty in Scotland. Figures published today show that households spending more than 10% of their income ,on heating has worsened since 2004 when it accounted for 18% of households. Now the total is 23%, or 543,000 homes, according to Scottish Government figures." (Herald, 11 December)
Half a million households shivering in the cold is far from being an idyllic Scottish scene. RD
TOUGH AT THE TOP?
We are often told that it is tough at the top and that great wealth brings great burdens. Spare a tear then for Richard tenth Duke of Buccleuch and his onerous future. "The Duke of Buccleuch left £320 million in his will, despite trying to downplay his wealth. The Scottish aristocrat, who died in September aged 83, was as wealthy as the Queen and up to four times richer than he would ever admit. He was one of the biggest landowners in Europe, with about 280,000 acres, but he had also amassed a personal fortune. The majority of his estate will be passed to his son, Richard, the tenth duke." (Times, 10 December)
No worries about sub-prime loans there, we would imagine! RD
No worries about sub-prime loans there, we would imagine! RD
Chartist Thinkers
Another upload of lectures given by Stephen Coleman , this time part of a series called Socialist Thinkers and , in this talk , it is James Bronterre O'Brien , one of the leaders of early workers movement , the Chartists , that Coleman discusses .
Again , many thanks to "Brooklyn" Darren for taking time to make these talks available to the internet .
Again , many thanks to "Brooklyn" Darren for taking time to make these talks available to the internet .
Thursday, December 13, 2007
A MERRY XMAS - FOR SOME
"At £50,000, it's the cost of a Jaguar car or a terrace house in Castleford. But that hasn't stopped the orders coming in for what is probably the most expensive Christmas hamper assembled. The idea came from a well-heeled customer at the Vivat Bacchus restaurant in London who asked the co-owner to put together a goody basket for the festive season.
When Neleen Strauss asked for a budget, the client told her £50,000. Strauss set about putting together the special hamper - believed to be the most expensive on sale in the UK - which is stuffed with 22 bottles of prized wines, champagnes and spirits. They include the sought-after Meinert Merlot 2000, ...Strauss describes it as "priceless". Also thrown in for good measure is a £15,000 bottle of Romanee Conti 1970 - one of the best burgundies in the world - and a Chateau d'Yquem 1959 dessert wine (£2,400). The restaurant, which straddles Clerkenwell and the City of London, is a haunt of lawyers, bankers and City financiers who are often flush with bonuses. Word got around in the restaurant of the £50,000 hamper assembled for the customer, a banker. "Then, before I knew it, a lady had ordered another two" said Strauss". (Guardian, 11 December) RD
When Neleen Strauss asked for a budget, the client told her £50,000. Strauss set about putting together the special hamper - believed to be the most expensive on sale in the UK - which is stuffed with 22 bottles of prized wines, champagnes and spirits. They include the sought-after Meinert Merlot 2000, ...Strauss describes it as "priceless". Also thrown in for good measure is a £15,000 bottle of Romanee Conti 1970 - one of the best burgundies in the world - and a Chateau d'Yquem 1959 dessert wine (£2,400). The restaurant, which straddles Clerkenwell and the City of London, is a haunt of lawyers, bankers and City financiers who are often flush with bonuses. Word got around in the restaurant of the £50,000 hamper assembled for the customer, a banker. "Then, before I knew it, a lady had ordered another two" said Strauss". (Guardian, 11 December) RD
DEATH AND DESPERATION
In complete contrast to the indulgences of the extremely wealthy is the utter desperation of some workers risking their lives for the right to be exploited.
"A boat carrying illegal migrants sank off Turkey's Aegean coast and at least 43 people died, an official said yesterday. The 50-foot boat sank in rough weather late on Saturday off the coast of Seferihisar, a town south of the city of Izmir, local Governor Orhan Sefik Guldibi said. Six migrants were rescued and hospitalized, mostly for shock. Citing survivors, the Coast Guard said a total of 85 people were on board. Guldibi said 43 bodies had been recovered."We are trying to keep our hopes alive but the possibility of more survivors is diminishing," Guldibi said." (Independent, 11 December) RD
"A boat carrying illegal migrants sank off Turkey's Aegean coast and at least 43 people died, an official said yesterday. The 50-foot boat sank in rough weather late on Saturday off the coast of Seferihisar, a town south of the city of Izmir, local Governor Orhan Sefik Guldibi said. Six migrants were rescued and hospitalized, mostly for shock. Citing survivors, the Coast Guard said a total of 85 people were on board. Guldibi said 43 bodies had been recovered."We are trying to keep our hopes alive but the possibility of more survivors is diminishing," Guldibi said." (Independent, 11 December) RD
A lesson that goes unlearned
Socialist Courier has often reported on the inequality of opportunity in education and our stance is that it is not accidental or a result of mistaken policy but integral to the class divide of society .
Yet again the media carries the same old story , privilege over poverty in education . Clever children from poor families face being overtaken by less bright children from affluent homes . The findings are part of a study for the Sutton Trust which says UK social mobility has not improved since 1970.
"It's a terrible thing that children from poor backgrounds, who are bright, end up actually not getting a very good start in life. They end up in schools that aren't very good and end up poor as adults and that's a terrible waste of talent and it's also basically wrong, it's just unfair." trust chairman Sir Peter Lampl said.
The trust's study by the London School of Economics and the University of Surrey concludes that the UK remains very low on the international rankings of social mobility.
Children from the poorest fifth of households who score some of the best results in tests aged three have fallen behind by the age of five. The report said that children in the poorest fifth of households but in the brightest group drop from the 88th percentile on cognitive tests at age three to the 65th percentile at age five . Meanwhile those from the richest households who are least able at age three move up from the 15th percentile to the 45th percentile by age five. The report authors conclude: "If this trend were to continue, the children from affluent backgrounds would be likely to overtake the poorer children in test scores by age seven".
They also said while 44% of young people from the richest 20% of households were awarded degrees in 2002, only 10% from the poorest 20% did so.
The report concludes: "Parental background continues to exert a significant influence on the academic progress of recent generations of children. Stark inequalities are emerging for today's children in early cognitive test scores - mirroring the gaps that existed and widened with age for children born 30 years previously."
It has also been reported on the BBC The children who could benefit most from out of school clubs are least likely to have access to them . Young people on free school meals were less likely to participate in after school activities than those from more affluent homes, research suggested. This was because rich parents were able to buy their children access to such clubs, while poorer parents could not.
"It's probably the kids who don't get much support at home who need activity programmes the most. Yet struggling schools in disadvantaged areas often lack the resources to offer them."
And in Scotland , the BBC reports , it is children from deprived areas of Scotland that are more likely to truant or be absent from school than other pupils . Latest attendance figures showed pupils registered for free school meals were away for an average of 10 days more than those who do not receive them .
Yet again the media carries the same old story , privilege over poverty in education . Clever children from poor families face being overtaken by less bright children from affluent homes . The findings are part of a study for the Sutton Trust which says UK social mobility has not improved since 1970.
"It's a terrible thing that children from poor backgrounds, who are bright, end up actually not getting a very good start in life. They end up in schools that aren't very good and end up poor as adults and that's a terrible waste of talent and it's also basically wrong, it's just unfair." trust chairman Sir Peter Lampl said.
The trust's study by the London School of Economics and the University of Surrey concludes that the UK remains very low on the international rankings of social mobility.
Children from the poorest fifth of households who score some of the best results in tests aged three have fallen behind by the age of five. The report said that children in the poorest fifth of households but in the brightest group drop from the 88th percentile on cognitive tests at age three to the 65th percentile at age five . Meanwhile those from the richest households who are least able at age three move up from the 15th percentile to the 45th percentile by age five. The report authors conclude: "If this trend were to continue, the children from affluent backgrounds would be likely to overtake the poorer children in test scores by age seven".
They also said while 44% of young people from the richest 20% of households were awarded degrees in 2002, only 10% from the poorest 20% did so.
The report concludes: "Parental background continues to exert a significant influence on the academic progress of recent generations of children. Stark inequalities are emerging for today's children in early cognitive test scores - mirroring the gaps that existed and widened with age for children born 30 years previously."
It has also been reported on the BBC The children who could benefit most from out of school clubs are least likely to have access to them . Young people on free school meals were less likely to participate in after school activities than those from more affluent homes, research suggested. This was because rich parents were able to buy their children access to such clubs, while poorer parents could not.
"It's probably the kids who don't get much support at home who need activity programmes the most. Yet struggling schools in disadvantaged areas often lack the resources to offer them."
And in Scotland , the BBC reports , it is children from deprived areas of Scotland that are more likely to truant or be absent from school than other pupils . Latest attendance figures showed pupils registered for free school meals were away for an average of 10 days more than those who do not receive them .
Wednesday, December 12, 2007
FEET OF CLAY?
The slavish attitude that workers have towards their leaders and "great men" always astonishes socialists.
A case in point was President George Bush saying "The trouble with the French is that they don't have a word for entrepreneur".
If that was a schoolboy error made by a "great man", what about the following?
US homeowners searching for help with their mortgages struggled to get through on a telephone number that President Bush gave them on Thursday.
"I have a message for every homeowner worried about rising mortgage payments: the best you can do for your family is to call 1-800-995-HOPE," he said. But those who went in search of hope got a busy signal - the president had given them the wrong number. The number Bush gave was for the Freedom Christian Academy in Texas. The school phone rang non-stop when Bush gave out the number. "I've tried my best to give the correct number to these people when they called," the academy's Ms Karen Pulaski told the Dallas Morning News, having spoken to more than 50 people in an hour. "But it got a little overwhelming because I couldn't do anything except answer these calls." Ms Pulaski later disconnected the phone." (BBC News, 10 December)
Feet of clay? Right up to the elbows! RD
A case in point was President George Bush saying "The trouble with the French is that they don't have a word for entrepreneur".
If that was a schoolboy error made by a "great man", what about the following?
US homeowners searching for help with their mortgages struggled to get through on a telephone number that President Bush gave them on Thursday.
"I have a message for every homeowner worried about rising mortgage payments: the best you can do for your family is to call 1-800-995-HOPE," he said. But those who went in search of hope got a busy signal - the president had given them the wrong number. The number Bush gave was for the Freedom Christian Academy in Texas. The school phone rang non-stop when Bush gave out the number. "I've tried my best to give the correct number to these people when they called," the academy's Ms Karen Pulaski told the Dallas Morning News, having spoken to more than 50 people in an hour. "But it got a little overwhelming because I couldn't do anything except answer these calls." Ms Pulaski later disconnected the phone." (BBC News, 10 December)
Feet of clay? Right up to the elbows! RD
SURPLUSES AND SHORTAGES
The advance of Chinese capitalism is enriching their owning class but it is not helping their working class. "China's worst fuel crunch in years has led a crematorium to dump half-burnt corpses to try saving on diesel costs, a Hong Kong newspaper said on Friday. Villagers in Hengyang county, in the southern province of Hunan, discovered the practice when an "unbearable stench" started coming from the site, and tried to block a road on Wednesday to stop funeral vehicles from delivering more bodies. The village sent people to investigate the smell and the South China Morning Post said they saw "crematorium workers putting half-burnt human remains and organs in plastic bags and throwing them into a nearby ditch." "As the price of diesel rose, we saw more and more bags thrown out from the crematorium," the paper quoted Xiao Gaoyi, a village representative and one of the witnesses, as saying. ..Fuel in many parts of the country was rationed and there were long queues at petrol stations." (Yahoo News, 7 December) RD
Tuesday, December 11, 2007
EVEN MORE EXPENSIVE
Not to be outdone by their New York rivals the London rich and useless have went one better when it comes to wasting money on booze.
"Economists may be warning of tough times ahead and homeowners fretting about the state of the property market, but one London nightclub remains undeterred. Today, it will launch the world's most expensive Christmas cocktail, costing £35,000 a glass. The Movida nightclub, a hangout of celebrities, footballers and the super-rich, has already taken a small number of orders for the drink, named the Flawless. The cocktail consists of a large measure of Louis XII cognac, half a bottle of Cristal Rose champagne, some brown sugar, angostura bitters and a few flakes of 24-carat edible gold leaf. The drink is described as warming and refreshing, but that is not the main reason for the exorbitant cost: at the bottom of the crystal glass is an 11-carat white diamond ring." (Guardian, 8 December) RD
"Economists may be warning of tough times ahead and homeowners fretting about the state of the property market, but one London nightclub remains undeterred. Today, it will launch the world's most expensive Christmas cocktail, costing £35,000 a glass. The Movida nightclub, a hangout of celebrities, footballers and the super-rich, has already taken a small number of orders for the drink, named the Flawless. The cocktail consists of a large measure of Louis XII cognac, half a bottle of Cristal Rose champagne, some brown sugar, angostura bitters and a few flakes of 24-carat edible gold leaf. The drink is described as warming and refreshing, but that is not the main reason for the exorbitant cost: at the bottom of the crystal glass is an 11-carat white diamond ring." (Guardian, 8 December) RD
AN EXPENSIVE TIPPLE
The sub-prime crisis in the USA obviously doesn't concern the buyers at this New York auction. "A bottle of 81-year-old Scotch sold for $54,000 at this New York's first liquor auction since Prohibition. An anonymous collector bought the pricey potable at Christie's sale of wines and spirits on Saturday. The 100-lot auction sold a total of $304,800 worth of rare wine and liquor. The top lot was a collection of 729 bottles of whisky, which went for $102,000. The $54,000 bottle was distilled at Macallan in Scotland in 1926, bottled in 1986 and rebottled in 2002." (Yahoo News, 9 December) RD
Listen to the Party
Socialist Courier wishes to draw readers attention to the availability on the internet of a talk given by Stephen Coleman of the place of the SPGB in the history of the labour movement that can be got as a download by going to link :
Monday, December 10, 2007
EMPTY PROMISES AND HARSH REALITY
Many South Africans struggled hard to overcome the horrors of apartheid but tragically their sacrifices have proven largely in vain as capitalism has ensured that the majority still live in poverty and insecurity.
"Desmond Tutu says South Africa has lost its moral direction, and the bitter contest for the ANC leadership offers no hope for new direction or ideas. The African National Congress, the continent's oldest liberation movement, faces its moment of truth. South Africa's millions of poor blacks have gained little from the economic boom that has produced 5 per cent annual growth rates for the past two years. Apart from voting every five years, the country's celebrated turn to democracy in 1994 has not brought them much."
(New Statesman, 6 December) RD
"Desmond Tutu says South Africa has lost its moral direction, and the bitter contest for the ANC leadership offers no hope for new direction or ideas. The African National Congress, the continent's oldest liberation movement, faces its moment of truth. South Africa's millions of poor blacks have gained little from the economic boom that has produced 5 per cent annual growth rates for the past two years. Apart from voting every five years, the country's celebrated turn to democracy in 1994 has not brought them much."
(New Statesman, 6 December) RD
BEHIND THE PIETY
Capitalism is a harsh exploitive society. It is especially harsh on young poor women. Every religious group erects a pious barrier against the sordid realities of a cash society, but it is a phoney piety that cannot compete with the cash nexus. Moslems in the Middle East are especially hypocritical in their defence of chastity and purity.
"With their bright neon signs and glitzy decor, dozens of nightclubs line the streets of the Maraba district in the Syrian capital Damascus. It's here that men come from far and wide - car number plates are not just from Syria but Iraq and Saudi Arabia - to watch young women dancing. Most of the dancers are teenagers and many of them are Iraqi refugees. They dance for the cash which gets tossed onto the stage. The dancers are surrounded by bodyguards, to stop them being touched by the men. But the guards also arrange for their charges to be paid for sex with members of the audience." (BBC News, 3 December)
The Koran cannot compete with the cash register inside capitalism. RD
"With their bright neon signs and glitzy decor, dozens of nightclubs line the streets of the Maraba district in the Syrian capital Damascus. It's here that men come from far and wide - car number plates are not just from Syria but Iraq and Saudi Arabia - to watch young women dancing. Most of the dancers are teenagers and many of them are Iraqi refugees. They dance for the cash which gets tossed onto the stage. The dancers are surrounded by bodyguards, to stop them being touched by the men. But the guards also arrange for their charges to be paid for sex with members of the audience." (BBC News, 3 December)
The Koran cannot compete with the cash register inside capitalism. RD
Sunday, December 09, 2007
Tax and the rich 2
More than a third of Scottish farms sold this year have been snapped up by cash-rich businesspeople anxious to avoid paying inheritance tax .
According to the annual Scottish Estates Review by property agency Strutt & Parker, the number of farm buyers who cite IHT as a reason for their purchase reached 36% this year.
Prime Scottish arable land has now more than doubled in value since 2004, selling for at least £3,500 an acre, compared with £1,600 three years ago. Farmers have traditionally been allowed to pass on their land to their children without the value being calculated for inheritance tax purposes. Any assets above a threshold of £283,000 are normally taxed at a rate of 40%, but farms are excluded so that they do not have to be split up to pay death duties.
But the tax break is now being exploited by wealthy investors.
"These are people with maybe £20m, £30m or £40m and they are looking for ways to shield that money from IHT in the future. They are buying farms and sheltering some of their money that way." Strutt & Parker's farm sales specialist said "You can't let the land go unmanaged but you can employ a manager, so investors don't even need to get their hands dirty."
According to the annual Scottish Estates Review by property agency Strutt & Parker, the number of farm buyers who cite IHT as a reason for their purchase reached 36% this year.
Prime Scottish arable land has now more than doubled in value since 2004, selling for at least £3,500 an acre, compared with £1,600 three years ago. Farmers have traditionally been allowed to pass on their land to their children without the value being calculated for inheritance tax purposes. Any assets above a threshold of £283,000 are normally taxed at a rate of 40%, but farms are excluded so that they do not have to be split up to pay death duties.
But the tax break is now being exploited by wealthy investors.
"These are people with maybe £20m, £30m or £40m and they are looking for ways to shield that money from IHT in the future. They are buying farms and sheltering some of their money that way." Strutt & Parker's farm sales specialist said "You can't let the land go unmanaged but you can employ a manager, so investors don't even need to get their hands dirty."
Saturday, December 08, 2007
Tax and the rich
The Treasury has admitted its plans to clamp down on super-rich non-UK domiciled taxpayers are being hampered by a lack of reliable data
A little more than 15,000 people are thought to have a combined wealth of £140 billion, and that includes £65 billion attributed to a small number of super-rich.
The combined taxable annual income of this latter group is estimated at about £1.9billion and "non-dom" rules allow these people to avoid a £600m tax bill. The Treasury has estimated that it is losing £1billion a year to the "non doms".
A little more than 15,000 people are thought to have a combined wealth of £140 billion, and that includes £65 billion attributed to a small number of super-rich.
The combined taxable annual income of this latter group is estimated at about £1.9billion and "non-dom" rules allow these people to avoid a £600m tax bill. The Treasury has estimated that it is losing £1billion a year to the "non doms".
Jobs for the Boys
Jonathan Powell, former chief of staff to Tony Blair, is to become a senior executive at a leading bank. He will take up a full-time position as a senior managing director of Morgan Stanley's investment banking division. The son of an air vice-marshal, Mr Powell comes from a powerful family that includes his brother Charles, who was Margaret Thatcher’s foreign policy adviser. His other brother, Chris, is influential in advertising and has done some work for the Labour party.
A former journalist and diplomat, Mr Powell is expected to play a role in transactions involving some of the bank's largest clients in UK and Europe. As a managing director in Morgan Stanley's investment banking division, Mr Powell will be responsible for introducing the bank to important governmental and corporate clients he met during his time as aide to Mr Blair.
It has become increasingly commonplace for investment banks to hire former government ministers and politicians to introduce them to clients and brief them on government policy. Former Conservative prime minister John Major is a senior adviser to Credit Suisse while ex-German chancellor Gerhard Schröder works part-time for Rothschild. Italian Prime Minister Romano Prodi spent time with Goldman Sachs before and after his first spell as Italian leader in the 1990s. Lord Waldegrave, a former Conservative minister, is vice-chairman of investment banking at UBS, Switzerland's biggest bank. Jeremy Heywood, Mr Blair's former principal private secretary, left his job as Morgan Stanley's co-head of UK investment banking to become Gordon Brown's head of domestic policy in June.
Brown-nosed snouts in the trough
A former journalist and diplomat, Mr Powell is expected to play a role in transactions involving some of the bank's largest clients in UK and Europe. As a managing director in Morgan Stanley's investment banking division, Mr Powell will be responsible for introducing the bank to important governmental and corporate clients he met during his time as aide to Mr Blair.
It has become increasingly commonplace for investment banks to hire former government ministers and politicians to introduce them to clients and brief them on government policy. Former Conservative prime minister John Major is a senior adviser to Credit Suisse while ex-German chancellor Gerhard Schröder works part-time for Rothschild. Italian Prime Minister Romano Prodi spent time with Goldman Sachs before and after his first spell as Italian leader in the 1990s. Lord Waldegrave, a former Conservative minister, is vice-chairman of investment banking at UBS, Switzerland's biggest bank. Jeremy Heywood, Mr Blair's former principal private secretary, left his job as Morgan Stanley's co-head of UK investment banking to become Gordon Brown's head of domestic policy in June.
Brown-nosed snouts in the trough
SUB-PRIME, WHAT'S THAT?
"It's been that kind of year for the luxury sector in New York. While home prices slid around the country, Manhattan set a new apartment sales record with developer Harry Macklowe's $60 million purchase of an entire Plaza Hotel floor (minus one rogue apartment), and a new price-per-square-foot benchmark ($6,287 per interior square foot) with former Citigroup chairman Sanford Weill's $42.4 million splash into 15 Central Park West."
(Yahoo News, 29 November) RD
(Yahoo News, 29 November) RD
SUB-PRIME, AND HOW
"More than two years after Hurricane Katrina, New Orleans is suffering from an acute shortage of housing that has nearly doubled the cost of rental units in the city ... Before the storm, more than half of the city’s population rented housing. Yet official attention to help revive the shattered rental home and apartment market has been scant. ...One of the more striking changes to appear lately in New Orleans is the highly visible number of homeless men and women living under bridges and in parks. Social service groups say about 12,000 homeless people are living in the city, about double the number before the storm. ...In the past several months, a homeless encampment has sprung up on the steps of City Hall — partly because it is a safe open space and partly because it is a political statement. Tents and sleeping bags are aligned in rows. The crowd of hundreds is a mix of young and old, white and black." (New York Times, 3 December) RD
SUB-PRIME EXISTENCE
Capitalism likes hiding its brutality behind euphemisms. Thus we have no Ministry of Offence, but one of Defence. So when mortgage companies lend money to people that are skint they describe them as "sub-prime" loans. The recent rash of foreclosures in the USA affected not only home buyers but tenants of landlords that were in debt. Alice Mills, a 67 year old returning from hospital was shocked to learn that she was to be evicted the next day - she was not alone. "Mills is one of a growing number of renters who are being caught up in the nation's foreclosure crisis. According to RealtyTrac, a company that tracks foreclosures across the country, 1,785,596 foreclosures have been filed nationwide so far this year, a dramatic increase over a year ago. RealtyTrac say October foreclosures this year were up 94 percent over last October." (USA Today, 30 November) RD
Friday, December 07, 2007
WORKED TO DEATH
There is an old saw that claims "hard work never killed anybody", like most old saws it is absolute nonsense, as the following illustrates.
"A Toyota Motor Corp employee died of overwork after logging more than 106 hours of overtime in a month, a judge ruled Friday, reversing a ministry's earlier decision not to pay compensation to his widow. ...The employee, who was working at a Toyota factory in central Japan, died of irregular heartbeat in February 2002 after passing out in the factory around 4 a.m. "(The employee) worked for extremely long hours and the relationship between his work and death is strong," Yomiuri Online quoted Judge Toshiro Tamiya as saying. Overworking is a serious issue in Japan, where an average worker uses less than 50 percent of paid holidays, according to government data. In fiscal year 2005-2006, the labour ministry received 315 requests for compensation from the bereaved families of workers who died of strokes and other illnesses seen as work-related." (Yahoo News, 30 November)
This brings to mind another old saying - "Socialism won't work because the workers are too lazy"! RD
"A Toyota Motor Corp employee died of overwork after logging more than 106 hours of overtime in a month, a judge ruled Friday, reversing a ministry's earlier decision not to pay compensation to his widow. ...The employee, who was working at a Toyota factory in central Japan, died of irregular heartbeat in February 2002 after passing out in the factory around 4 a.m. "(The employee) worked for extremely long hours and the relationship between his work and death is strong," Yomiuri Online quoted Judge Toshiro Tamiya as saying. Overworking is a serious issue in Japan, where an average worker uses less than 50 percent of paid holidays, according to government data. In fiscal year 2005-2006, the labour ministry received 315 requests for compensation from the bereaved families of workers who died of strokes and other illnesses seen as work-related." (Yahoo News, 30 November)
This brings to mind another old saying - "Socialism won't work because the workers are too lazy"! RD
CHINESE COLONALISATION
Here is another example of the Chinese government that used to castigate European capitalism for exploiting less-developed parts of the world, engaging in the same adventurism that it once branded as "capitalist colonisation". "Overall, China's push into Africa has been remarkably successful. Chinese companies are sucking up oil from Sudan, cutting down timber in Guinea and mining copper and zinc from the Congo. Beijing recently bought a major stake in South Africa's Standard Bank to fund infrastructure projects throughout the continent. And the Chinese are far outpacing their Western rivals. China has opened more embassies in Africa than the United States has, and is even investing heavily in countries, like Rwanda, where the immediate returns are murky at best. Last year trade between Africa and China topped $50 billion. By 2010 it's projected to reach $100 billion." (Newsweek, 3 December) RD
Price fixing at your local supermarket
Always first with the news , Socialist Courier reported here the Capitalist Scam of supposed rivals and competitors co-operating to fix prices of goods to extract extra profits .
And lo and behold , what should appear on the BBC , but the revelation that Sainsbury's and Asda have admitted fixing the price of milk and cheese and who along with a number of dairy firms, have agreed to pay fines totalling at least £116 million following an inquiry by the Office of Fair Trading . Cases against Tesco and Morrisons will continue after no deal was struck.
The OFT said that its evidence found that while dairy product prices went up after the collusion, the price received by farmers did not increase. The price fixing saw customers being charged 3p extra for a pint of milk and 15p extra per quarter-pound of butter. Customers also being allegedly overcharged 15p per half-pound of cheese .
In September, the watchdog provisionally found evidence of collusion by 10 firms relating to price-setting in 2002 and 2003. Now Sainsbury's and Asda have admitted price-fixing of milk and cheese, as has Safeway - before it was bought by Morrisons. Safeway has also admitted colluding on the price of butter. Dairy product processors Dairy Crest, the Cheese Company and Wiseman Dairies were also fined .
So , indeed, "Every Little Helps" "That ASDA Price"
And lo and behold , what should appear on the BBC , but the revelation that Sainsbury's and Asda have admitted fixing the price of milk and cheese and who along with a number of dairy firms, have agreed to pay fines totalling at least £116 million following an inquiry by the Office of Fair Trading . Cases against Tesco and Morrisons will continue after no deal was struck.
The OFT said that its evidence found that while dairy product prices went up after the collusion, the price received by farmers did not increase. The price fixing saw customers being charged 3p extra for a pint of milk and 15p extra per quarter-pound of butter. Customers also being allegedly overcharged 15p per half-pound of cheese .
In September, the watchdog provisionally found evidence of collusion by 10 firms relating to price-setting in 2002 and 2003. Now Sainsbury's and Asda have admitted price-fixing of milk and cheese, as has Safeway - before it was bought by Morrisons. Safeway has also admitted colluding on the price of butter. Dairy product processors Dairy Crest, the Cheese Company and Wiseman Dairies were also fined .
So , indeed, "Every Little Helps" "That ASDA Price"
Thursday, December 06, 2007
THE PRICE OF GOLD
About a quarter of a million mineworkers downed tools on Tuesday in South Africa, the world's top producer of gold and platinum.
"This year's death toll has reached 200, mostly owing to rock falls and explosions in several mines. Many mines have been unchanged for decades but recently reopened, thanks to high world prices that have made them profitable again." (Times, 5 December) The miners are concerned about the lack of safety in the mining industry which one striker described as "dripping in blood". The average wage of a miner in South Africa is about $200 a month. None of them will be wearing gold or diamonds that is for sure. RD
"This year's death toll has reached 200, mostly owing to rock falls and explosions in several mines. Many mines have been unchanged for decades but recently reopened, thanks to high world prices that have made them profitable again." (Times, 5 December) The miners are concerned about the lack of safety in the mining industry which one striker described as "dripping in blood". The average wage of a miner in South Africa is about $200 a month. None of them will be wearing gold or diamonds that is for sure. RD
HEIRESS ON THE RUN
She was left $12 million but it was a mixed blessing as she received threats from blackmailers and kidnappers. "Their threats forced concerned friends to bundle her onboard a private jet under a new identity and take her into hiding. Her location is a closely guarded secret but she is reportedly living somewhere in Florida under 24 hour guard." (Times, 4 December) It is reported that her annual upkeep is $300,000 but this includes a rotating security team. Oh, did we mention she has weekly grooming visits and has to visit the vet for her liver condition? Yes, the vet! For she is a white Maltese dog called Trouble whose former owner was the hotel tycoon Leona Helmsley.
Go on tell us that capitalism isn't crazy! RD
Go on tell us that capitalism isn't crazy! RD
OLD AGE FEARS
In so-called primitive societies that practiced a hunting/gathering existence, the elderly were protected and respected as knowledgeable members of the group. In modern capitalism the old are looked upon as a burden as can be seen from these findings.
"Britons are living in fear of growing old in a society that fails to respect the over-65s or provide adequate support for those in need, a Guardian poll reveals today. It found a country struggling to come to terms with demographic pressures that are set to see an increase in the number of older people by more than 60% over the next 25 years, putting a huge strain on the resources of the welfare state. The ICM poll found: 40% of Britons fear being lonely in their old age Two thirds of the adult population are "frightened" by the prospect of having to move into a care home; More than 90% said they knew they could not survive on the state pension and would need to rely on savings." (Guardian, 3 December) RD
"Britons are living in fear of growing old in a society that fails to respect the over-65s or provide adequate support for those in need, a Guardian poll reveals today. It found a country struggling to come to terms with demographic pressures that are set to see an increase in the number of older people by more than 60% over the next 25 years, putting a huge strain on the resources of the welfare state. The ICM poll found: 40% of Britons fear being lonely in their old age Two thirds of the adult population are "frightened" by the prospect of having to move into a care home; More than 90% said they knew they could not survive on the state pension and would need to rely on savings." (Guardian, 3 December) RD
Wednesday, December 05, 2007
THIS SPORTING LIFE
In the mad competitive struggle that is capitalism, the use of steroids by athletes has become commonplace, but what is not so well known is their use by school kids."Probably next week, but certainly before Christmas, the state of Texas will become the first to implement mandatory drug testing for high-school students." (Times, 1 December) This legislation is being introduced partly because of the suicide of Taylor Hooton, a 17 year old baseball pitcher at a Texas high school, but also because of a series of surveys that suggested that 2 - 6 per cent of high school take steroids. RD
PROMISES, PROMISES
Back in 1999 the then Prime Minister, Tony Blair promised to halve the number of poor children in 10 years and eradicate child poverty in 20 years. "The government's approach to tackling child poverty has lost momentum and is in "urgent need" of a major rethink, a charity has said. A Joseph Rowntree Foundation (JRF) report said there has been no sustained progress in the past three years. One in three UK children live in poverty. A report by the Treasury select committee fears the pledge to halve child poverty by 2010 is in doubt. Ministers say progress has been made, but acknowledge more needs to be done." (BBC News, 3 December) This is typical of reformist politicians - make promises, preferably far into the future and they will probably be forgotten when the next election comes along. RD
The Poor Pay More
Following up an earlier post we see from the BBC that energy companies have been accused by an industry watchdog of exploiting some of the poorest people in society.
Customers with pre-payment meters are paying hundreds of pounds more for electricity and gas than those with access to the cheapest tariffs . Customers on the meters are charged an average of £195 more a year than those paying by direct debit . In some cases, customers using meters have been found to pay as much as £304 more a year. There are 3.5 million electricity and 2.2 million gas pre-payment meters in Britain. Some 580,000 pre-payment meters were installed in 2006. Energywatch claims that 63% were installed by companies to recover debts, which would limit the ability of those households to switch to cheaper suppliers or payment methods.
"That they should ramp up the rates and exploit those with no access to alternative payment methods is morally bankrupt," said Energywatch chief executive of Allan Asher.
According to Energywatch, the industry is making conservatively close to £300 million a year in revenues from customers on pre-payment meters.
Customers with pre-payment meters are paying hundreds of pounds more for electricity and gas than those with access to the cheapest tariffs . Customers on the meters are charged an average of £195 more a year than those paying by direct debit . In some cases, customers using meters have been found to pay as much as £304 more a year. There are 3.5 million electricity and 2.2 million gas pre-payment meters in Britain. Some 580,000 pre-payment meters were installed in 2006. Energywatch claims that 63% were installed by companies to recover debts, which would limit the ability of those households to switch to cheaper suppliers or payment methods.
"That they should ramp up the rates and exploit those with no access to alternative payment methods is morally bankrupt," said Energywatch chief executive of Allan Asher.
According to Energywatch, the industry is making conservatively close to £300 million a year in revenues from customers on pre-payment meters.
Bank Fraud
Elsewhere and if committed by others this would be classed as fraud and the perpetrators would be hounded but with such influence and clout with the State the banking industry can do no wrong under the eyes of the Law , it seems .
Britain's high street banks have raised billions of pounds in funds through complex financial deals that use supposedly charitable trusts which are not donating a penny to good causes . Trusts are set up during an elaborate process known as securitisation, which has increasingly replaced the traditional mortgage model in which banks made loans to home buyers and held on to the loans until they were paid off.
Over the last seven years, banks have been pooling many of their loans and turning them into mortgage-backed securities which can then be sold to large investors.
The banks have been doing this through trusts which they can control without owning, isolating financial risks, and keeping their liabilities off their balance sheets in a way that makes them appear more profitable. By giving the trusts a charitable status, they can be operated indefinitely. The trusts are not obliged to make any payments unless they are eventually wound up, and even then the amount any charity might receive would be only a small fraction of the sums raised.
Over the last seven years, banks have been pooling many of their loans and turning them into mortgage-backed securities which can then be sold to large investors.
The banks have been doing this through trusts which they can control without owning, isolating financial risks, and keeping their liabilities off their balance sheets in a way that makes them appear more profitable. By giving the trusts a charitable status, they can be operated indefinitely. The trusts are not obliged to make any payments unless they are eventually wound up, and even then the amount any charity might receive would be only a small fraction of the sums raised.
Of the 12 institutions investigated by the Guardian, all admitted that their current series of "charitable" trusts had given nothing to charity.
Halifax names the National Society for the Prevention of Cruelty to Children (NSPCC) as a beneficiary, and has since raised funds on the back of almost £50bn of home loans. The Halifax admitted that this trust had not paid a penny to the NSPCC, however, and the charity said it knew nothing about the arrangement.
Northern Rock had raised £71bn through a Jersey-registered trust called Granite, which issued a prospectus that told potential investors: "Any profits ... will be paid for the benefit of the Down's Syndrome North East Association (UK) and for other charitable purposes."
Down's Syndrome North East, a small charity run by volunteers from a semi-detached house on the outskirts of Newcastle, was told nothing about this and did not receive any money.
Down's Syndrome North East, a small charity run by volunteers from a semi-detached house on the outskirts of Newcastle, was told nothing about this and did not receive any money.
Standard Life's trust, named Lothian, says it operates "for the benefit of charities involved in the domestic and international wellbeing of children". Standard Life would not identify these charities, but acknowledged that it had not paid them any money.
The Alliance and Leicester, for example, said it was one of the last UK banks to enter the mortgage securitisation market, and protested it had merely copied its competitors. "When entering the market, we took legal advice and followed a well-established structure already in use by very many other UK banks," a spokeswoman said. What an excuse but that's capitalism -- no scruples at all in the hunt for profits and always ready to join others with their snouts in the trough .
Christmas Good Cheer
The Herald reports that food prices are set to rise around the globe after years of decline, with climate change making it harder for the world's poorest to get adequate food . Rising global temperatures as well as growing food consumption in rapidly developing countries such as China and India are pressuring the world food system, meaning that prices will rise for the foreseeable future, according to the International Food Policy Research Institute. In addition, switching to crops used for biofuels will also reduce the amount of available food and increase prices
Hunger and malnutrition could rise as poor agricultural communities most sensitive to the environment, such as in Africa, are affected. Dependency on food imports will also increase as cereal yields decline in poorer countries. The world's agricultural production is projected to decrease by 16% by 2020 due to global warming, the report said, with land used for certain crops shrinking.
And we have the Independent reporting that the World's wealth already cannot provide for all its population and it is making the customary Christmas appeal for charity and alms .
Even in this supposed rich developed country there are tens of thousands of homeless yet according to Empty Homes Agency, a campaigning charity there are currently 663,000 wasted empty homes in England .
There are three main reasons for these 663,000 empty homes:-
First group have small-scale owners who've let the properties fall into disrepair, or have bought/inherited them in that state. But they don't have the time or the means, and so nothing is done year after year.
The second group are a consequence of property speculation. They are new-builds bought for investment. People buy off-plan with the intention to sell, will wait for their high expectations to be met rather than to accept what they're worth now or to rent them out. They'll gamble for big returns in the future rather than settle for a small but good income now .
The third group are publicly owned such as the Ministry of Defence or local authorities compulsory-purchasing homes with a view to regeneration. But some of those regeneration projects take forever, and in the meantime, homes that could be put to good use are sitting vacant.
Meanwhile between July 2005 and June 2006 139,760 were found to be homeless and the rate of homelessness in London is twice as high as the rest of England with over 50,000 homeless households. In Scotland , the number of households officially recognised as newly homeless in 2005/06 was 40,000.
Tuesday, December 04, 2007
BUDDY, CAN YOU SPARE A DIME
"Food banks around the country are reporting critical shortages that have forced them to ration supplies, distribute staples usually reserved for disaster relief and in some instances close. “It’s one of the most demanding years I’ve seen in my 30 years” in the field, said Catherine D’Amato, president and chief executive of the Greater Boston Food Bank, comparing the situation to the recession of the late 1970s. ..“It’s the price of oil, gas, rents and foreclosures,” said Melanie Gosselin, executive director of the New Hampshire Food Bank. Ms. Gosselin said household budget squeezes had led to a drop in donations and greater demand. “This is not the old ‘only the homeless are hungry,’” she said. “It’s working people.” (New York Times, 30 November) All this is happening in the most developed capitalist nation in the world at a time when billionaires are coining it in as never before. RD
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