A CUT PRICE BARGAIN

"The seller of one of the world’s most luxurious yachts – the 164ft Alibella – is offering a €9.5m (£8.1m) discount to a buyer prepared to complete a deal within the next 30 days. Alibella – which has been finished with gold leaf and marble and comes complete with a helicopter landing pad – is one of a number of super yachts to have had millions of pounds slashed from their asking price in recent weeks. Edmiston & Company, the London-based yacht brokers, have offered Alibella to its clients just six months after the super yacht was launched and delivered to its unidentified owner. “The current global economic conditions have produced a number of interesting opportunities on the large yacht market,” wrote William Christie, a broker at Edmiston, in an e-mail to clients. “The brand new 50 metre Benetti, Alibella [has been] reduced in price by €9.5m ... the owner will sell at this massively reduced price if the deal can be completed in under 30 days.” The discount reduces the cost of the yacht – which can accommodate 14 guests in six cabins – to €24.5m." (Daily Telegraph, 17 November) RD

WHAT RECESSION?

Palladio, the house on Bishops Avenue bought by Lev Leviev for £35 million

"Three enormous houses in Hampstead with billionaire price-tags are being launched in London's depleted and depressed property market with as much chutzpah as if there had been no recession at all. Jersey House in The Bishops Avenue at £40 million, The Mansion and The Villa, both in Courtenay Avenue, at £35 million and £25 million, are looking for mega-rich buyers." (Daily Telegraph, 12 November) RD

OLD AND COLD

"Millions of elderly people will heat just one room in their homes this winter to cut down on soaring heat bills. Research by the charity Help the Aged found that 4.5 million people planned to live in one room in the coldest months. Many would stay in bed longer to keep warm, the charity found. A spokesman said: "It is a scandal that in a civilised society we are behaving in this way." Energy bills have risen by about 30 per cent this year." (Times, 10 November) RD

BORN IN THE USA

"Bruce Springsteen wants to make sure one bank remains solvent: the Community Food Bank of New Jersey. The singer will appear in a newspaper ad for the state's largest food bank that says: "We Can't Let This Bank Fail!" Springsteen has been a supporter of the food bank for 23 years, often donating proceeds from concerts or encouraging fans to bring food donations to his shows. This is the first time he's lent his image to the anti-hunger campaign. The Community Food Bank says the economy has resulted in a 30 percent increase in those needing food and could lead it to ration supplies for the first time in its 26-year history. The food bank assists charities serving a half-million people each year." (Yahoo News, 11 November) RD

DIEING FOR A JOB

"Sixty corpses of would-be refugees from Somalia and Ethiopia were found on a beach in Yemen over the weekend after smugglers forced many of them overboard, an international aid agency said on Monday. Medicins Sans Frontieres (MSF) said the latest victims on the notoriously perilous smuggling route came across the Gulf of Aden from the Somali port city of Bosasso, fleeing war and poverty at home." (Yahoo News, 3 November) RD

YOU SHOULD BE SO LUCKY

"If it was not evident already how much developers in Dubai value the input of a celebrity name, the news that Kylie Minogue is to be paid about $4.4 million (£2.8 million) to officially open the $1.5 billion Atlantis Hotel on November 20 should silence any doubters. The Australian singer's first performance in the Middle East will be part of a $35 million extravaganza billed as the most expensive party yet held - the fireworks alone are to cost $6.58 million. But why bother with such expenditure? The Atlantis has already attracted huge publicity over its £13,000 a night suites." (Times, 31 October) RD

Profiting from the poor

Consumer Focus said it estimated power suppliers were making up to £550 million a year in extra charges from people on pre-payment meters. Typical customers using the devices were often those on the lowest incomes . Energy firms were using customers who pay for their gas or electricity through pre-payment meters to help subsidise cheaper deals for others.

"The energy companies are making the most money out of those on pre-payment meters and often those are the people on the very lowest incomes." said CF spokesperson

Energy awareness group National Energy Action said pre-payment metered customers paid on average £359 more a year than those with normal meters. This contrasts with the extra annual cost of between £85 and £100 to maintain the pre-payment boxes - a sum estimated by energy industry regulator Ofgem.

An NEA spokeswoman also added: "Once you are in debt you are effectively blocked from switching to cheaper deals."

AMERICAN NIGHTMARE

"Families are flooding homeless shelters across the United States in numbers not seen for years, camping out in motels or staying with friends and relatives, homeless advocates say. "There are lots of families hemorrhaging into homelessness and we need to figure out how to put a tourniquet on the hemorrhaging," Philip Mangano, the homelessness czar appointed by President George W. Bush in 2002, told Reuters. There is little time to waste. The U.S. unemployment rate is at a 14-year high and more job losses are forecast, while the Mortgage Bankers Association says nearly 1.5 million homes are in the process of foreclosure."
(Reuters, 12 November) RD

LAZY WORKERS?

"And U.S. employees do love to work. According to the Expedia.com 2007 Vacation Deprivation Report, "51.2 million Americans are vacation deprived, earning (14 days) and taking (11 days) the least amount of vacation days among their international counterparts." Furthermore, the number of U.S. workers not using all their vacation days is on the increase (31% in 2005, 33% in 2006 and 35% in 2007)." (PC World, 4 November) RD

TURN THE OTHER CHEEK?

"Israeli police rushed into one of Christianity's holiest churches Sunday and arrested two clergyman after an argument between monks erupted into a brawl next to the site of Jesus' tomb. The clash between Armenian and Greek Orthodox monks broke out in the Church of the Holy Sepulchre, revered as the site of Jesus' crucifixion, burial and resurrection. The brawling began during a procession of Armenian clergymen commemorating the 4th-century discovery of the cross believed to have been used to crucify Jesus. The Greeks objected to the march without one of their monks present, fearing that otherwise, the procession would subvert their own claim to the Edicule -- the ancient structure built on what is believed to be the tomb of Jesus -- and give the Armenians a claim to the site." (Associated Press, 10 November) RD

MORE RELIGIOUS NONSENSE

"Thousands of people flocked to a remote jungle in southeast Nepal to see a boy, some believe is a reincarnation of Lord Buddha, who reappeared after being missing for more than a year, police said on Tuesday. Seventeen-year-old Ram Bahadur Bamjon spoke to devotees from nearby villages on Monday in the remote forest in Ratanpuri, 150 km (95 miles) southeast of Kathmandu, Prakash Sen, a police constable said. Bamjon made international headlines in 2005 when tens of thousands of people turned up to see him sitting cross-legged under a tree in a dense forest for nearly ten months. reportedly without food and water." (Reuters, 10 November) RD

Food for meaty Thought

And what about the animals? The turkey dinner for holidays is huge in N.America. Capitalism has seized the opportunity to make big profits by, “A miracle of modern science, the birds grow cheaply, quickly, and uniformly especially when treated according to protocol in an industrial-scale setting. What they do best is convert the least amount of feed, which costs money, to the largest amount of breast meat, which makes money. Sure, they can’t reproduce naturally, fly, forage well, or even live long beyond their market-weight date (thanks to genetic problems like ruptured aortas, hypertension, and lameness). But these ‘robot turkeys’ get big and meaty right quick.”
(from Harrowsmith Country Life Magazine, October 2007 – and, believe it or not, the article came with the ‘how to cook your turkey’ tips!) John Ayers

Food for Thought

A big issue for Canadians is the preservation of our universal “free” Health care. Especially as half the 1.5 million American families that go bankrupt each year do so due to medical causes. In Canada we have creeping privatization as for profit clinics keep popping up contravening the Canada Health Act but never challenged by any level of government. These clinics are slowly stripping the health care system of doctors, nurses, other health care professionals, and resources. They charge fees that most Canadians cannot afford, such as $13-20 000 for knee surgery.
- Still on health, cigarette manufacturers, virtually chased out of the shrinking tobacco market in North America, have found new ones in the Third World (will it ever get to Second place?). China is the land of cheap cigarettes with ads such as, “This special product was created…as an appreciation to all women in style. Because you deserve the best” (message on packs of ‘low side stream lady’ rose flavoured cigarettes, Toronto Star, 25/10/08). Apparently it’s going well as smoking kills over a million in China every year!
- Still in China – Toronto Star headline, “Crisis Slows China’s March to Capitalism”. Ignoring the fact that they have always been capitalist, the story tells how a business couple saw the writing on the wall for their company so they took the money and ran, throwing 6 000 employees out of work. This is portrayed as ‘raw capitalism’, China style. Is it any different from the Canadian manufacturing companies who, over the last five years, have run from Canada to greener (as in green money) pastures, throwing 300 000 workers out of a job.
- And in the irony section - Mao’s personal airliner, a national relic, is on the auction block as it’s taking up too much space on a mall parking lot, needed for more shoppers!
- Canada’s election is over, thankfully quite a bit shorter than our neighbors to the South. Nevertheless it cost $300 million to stage the election not counting what the parties spent, to get an almost identical parliament to the last one – a Conservative minority with a few more Conservatives and NDP and a few less Liberals and a million voters for the Green Party with not one seat for them. The largest block of votes actually went to the No Voters – 41%, plus the estimated 8% who don’t bother to register, giving 49%. The Conservatives ‘won’ with less than 40%. Four out of five adults did not want Harper as PM! Some democracy!
John Ayers

One law for them , another law for us

So much for government assurances of sympathetic treatment for mortagage arrears by the banks during this credit crunch and slump.

The Financial Times reports a landmark High Court ruling under a 1925 law has paved the way for mortgage lenders to sell the homes of borrowers in arrears without seeking a court order after just TWO mortgage payments have failed .

The judgment dismissed the human rights defence of the homeowners in arrears and backed the right of GMAC-RFC, a specialist subprime and buy-to-let lender that is part-owned by General Motors, to appoint receivers and auction the property. The former homeowners were then evicted for trespassing by the new owner, Horsham Properties. The sale circumvented the court process through which judges can give struggling borrowers more time to arrange repayments .

John Gallagher, principal solicitor with Shelter, the housing charity, said the case “gives the green light” for lenders to sidestep courts with legal remedies “rooted in the 19th century and repugnant to most people’s sense of justice”.

Food for Thought

October 17th. was UN Day to Eradicate Poverty. Last year about 43 Million people took part in the global Stand Up, Take Action campaign. In addition, The Toronto Star editorial (26/10/08) headline read, “Vital to Reduce Poverty This Year”. Why this year, I’m not sure, as they have been saying this for about 100 years. How are we doing so far? The same newspaper highlighted the growing phenomenon of tent cities around North America. In Las Vegas, they are sprouting up in the shadow of the glitzy casinos. Can anything be more obscene? And they are not all mental health migrants. Seven out of ten are people from the area who have lost their houses in the current mortgage melt down. In Victoria, BC, a new by-law had to be rushed in to enable Police to move in and break up their tent city. “Ask not what your government can do for you…yadda yadda yadda” asJohn Kennedy once said. Indeed! - Never fear, however, Toronto City Council has found the solution. The notorious, poverty and crime ridden Jane/Finch area has been rebranded as University Heights with spiffy new banners hanging from the light poles. Now doesn’t that sound better? I’ll bet the people there feel richer already!- But wait! Our federal government will come to the rescue. Apparently they are not as cash-strapped as they thought and had us believe. Those poor, poverty-stricken banks, that have reported record profits for as long as I can remember, have received a gift from our government of $25 billion. And, the war in Afghanistan will cost $18 billion by the withdrawal date of 2011. Surely, the end of poverty must be in sight now. ! Not- On the environment, 46 scientists from ten countries, who are studying the Arctic, have concluded that Fall temperatures are 5C above normal, and accompanied by unprecedented rates of rising sea levels and the attendant effect on marine and mammal life. Is it time to act yet?- John Ayers

Reading Notes

- A few examples of how capitalism works and why:- “British Railway construction in Argentina was dramatic – from 1000 kilometres in 1871 to 12 000 kilometres two decades later, but entirely commercial in motivation: to move wheat and meat to ports.”-

“The effort to ensure a plentiful supply caused bloody conflict as one European country after another sought to establish monopolies over the produce of India’s Malabar coast (pepper, ginger), Sri Lanka (cinnamon)…”i.e. economic causes for war.-

“The meat-packing industry made beef an everyday luxury, but there was nothing benevolent about these butchers. Chicago became the world’s largest concentration of industrial capital, mass production, and human misery.” (see also Upton Sinclair’s ‘The Jungle”).-

“Every tonne of sugar consumed in Europe came at the cost of one slave’s life.”-

“In Mexico, the pre-conquest population of five to ten million was just 1.6 million in 1618. In the future United States, the native population shrank from two million in 1500 to 750 000 in 1700 and just 325 000 in 1830.” No wonder the Indian T-shirt says, “Fighting Terrorism Since 1492”. All the above come from “A Brief History of Globalization”, by AlexMacGillivray.
John Ayers

credit crunch bites

The number of Scots declared bankrupt is rising at record levels, figures have revealed.
Finance experts PKF said in the third quarter of 2008, 5,998 people had been made bankrupt or entered a voluntary repayment agreement with creditors.
The firm said this was an increase of 26.7% on the previous quarter and a 70% rise on the same quarter of 2007.
A total of 14,008 Scots have been made bankrupt so far this year, while the total figure for 2007 was 13,814.
PKF said around 20,000 Scots could be declared bankrupt by the end of 2008.

work is bad for your health

Writing in the European Journal of Oncology, Prof Watterson, an expert in occupational health, said "In Scotland more people die from occupational cancers than die from road traffic fatalities, murder and suicide all combined."
He estimated that about 10% of all cancers were work related.While the issue is usually associated with older industries involving asbestos, Prof Watterson said carcinogens were present in diesel, pesticides, silica, wood dust and solvents. He added that Scotland gives a higher priority to road deaths and murders, which claimed about 1,250 lives in 2003/04, than it does to tackling work-related cancers.

Socialist Standard November 2008

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Green Health - Red Revolution

from the bbc
Across the country, there are "health inequalities" related to income and social deprivation, which generally reflect differences in lifestyle, diet, and, to some extent, access to medical care.
This means that in general, people living in poorer areas are more likely to be unhealthy, and die earlier.
However, the researchers found that living near parks, woodland or other open spaces helped reduce these inequalities.

While the health specialists and enviromentalists place their faith in capitalism re-designing cities , the SPGB once more argues only socialism will create the conditions for the separation of town and countryside to wither away.