Children at risk ?

A series of studies published reveals child poverty may be more serious for many families than had been previously believed.the Scottish government's latest estimate is that 20% of children live below the low-income threshold ( calculated at £17,000 a year for two adults living with two children or £13,000 for a lone parent with two children.)

But researchers on the Growing Up in Scotland programme, which has been tracking children of 8,000 families since 2005, said the figure was actually higher-they calculate it at 24%.It showed that children growing up in poverty are more likely to be obese, suffer more accidents and injuries, and are more than twice as likely to suffer behavioural, emotional and social problems.Also found was that a third of Scottish mothers suffered mental health problems in the last four years.

CAPITALISM DESTROYS LIFE

"Sir David Attenborough has warned that Britain's wildlife is being destroyed thanks to man's impact on the environment. The naturalist made his comments in the foreword to a new book, Silent Summer, in which 40 prominent British ecologists explain how humankind is wiping out many species. It comes fifty years after the publication of Silent Spring, Rachel Carson's acclaimed book on pollution of wildlife that helped the growth of the environmental movement worldwide and led to a ban of some pesticides in Britain." (Sunday Telegraph, 25 April) RD

THE RICH GET RICHER

The UK's super-rich have seen a resurgence in their fortunes, the Sunday Times Rich List suggests. London-based steel tycoon Lakshmi Mittal topped the list for the sixth consecutive year with a £22.45bn pile. Many, including Mr Mittal, were hit badly by the economic downturn, shrinking their wealth in 2009.But the collective fortunes of the top 1,000 on the list have risen by 30% in the past year - the biggest jump in the list's 22-year history - to £333.5bn." (BBC News, 24 April) RD

PROGRESSING BACKWARDS

"There are still Ku Klux Klan chapters scattered across the US and in the past ten years there has been an increase in their numbers. In 2000 there were 110 chapters at the end of last year there were 187, with the total number of Klan members at about 9,000. Texas has the highest number with dozens more spread across the Deep South. But there are many in the Midwest, in states such as Ohio, Illinois and Indiana." (Times, 23 April) RD

cynicism and scepticism

The Big Issue carries an article on Edinburgh's rich/poor divide .JK Rowling has written about the shock of first moving to a council estate in the city and finding “violence, crime and addiction were part of everyday life in that part of Edinburgh… yet barely 10 minutes away was a different world, a world of cashmere and cream teas”.

Susan Carr, who runs the Craigmillar Neighbourhood Alliance explains how an ongoing regeneration project has stalled due to the economic downturn.“Given we’re only 10 minutes from parliament, in one of the wealthiest cities in Europe, the level of deprivation does seem outrageous...”
Carr’s colleague Norrie Davis, a lifelong Craigmillar man, says they are all “living in hope” that a new secondary school and library will be completed and that half-finished homes will be sold. “Everything’s slowed down because of the recession..."

Kirsty McLaron, 33, says “things have quietened down an awful lot, apart from one of two troublemakers”, but she doesn’t give Labour any of the credit. “They haven’t done anything for this area at all. I don’t really care if the Tory boy gets in – it can’t be any worse than Labour.”
One of her neighbours, 63-year-old Peter Kane, concurs. “The area’s got a hell of a lot better. A hell of a lot. I remember the days when you couldn’t even walk about safely in the daytime.” but he won’t put any of the improvement down to Labour politicians in London or Edinburgh. “The thing that sickened me was the MPs’ expenses,” he tuts. “They’ve been screwing us at every opportunity, and I don’t see any reason to vote for Labour now.”

As Socialist Courier says "Tweedledum or Tweedledee"

buddy , can you spare a dime

A new study has revealed the top five debt laden areas in Scotland.
For the Anderston area, nearly 20% of adults had debts in excess of £15,000. The Calton area was next, with 17.4% of adults carrying debts of more than £15,000. Dunfermline South and Greater Pollok both had 16.5% and Cumbernauld North had 16.4%.

Half a million Scots have debts of more than £15,000 – half of the average salary.

Another report describes how more than a fifth of Britons lie to their partners about the extent of their debts and almost a third keep other family members in the dark over the amount of money the owe.In Scotland, 27 per cent of debtors in Aberdeen keep their debts hidden from their partners, as do a fifth of Glaswegians and 13 per cent of those in Edinburgh.

GROWING SUSPICION

"Nearly 80 percent of Americans say they do not trust the government to do what is right, expressing the highest level of distrust in Washington in half a century, according to a public opinion survey.Only 22 percent of Americans say they trust the government "just about always" or "most of the time," according to the Pew Research Center survey released on Sunday.Americans' trust in the federal government has been on a steady decline from a high of 73 percent during the Eisenhower administration in 1958, when the "trust" question was first posed in a national survey, the research center said. Economic uncertainty, a highly partisan environment and overwhelming discontent with Congress and elected officials were all factors contributing to the current wave of public distrust, the report said." (Yahoo News, 19 April) RD

LAZY WORKERS?

"British Gas has received more than 65,000 applications for 600 gas fitter apprenticeships. The scheme pays £5,000 a year, plus expenses, to train staff to repair boilers and radiators. The 100-to-1 ratio of applicants to openings, twice the usual ratio, has been caused by surging youth unemployment, boosted by graduates and mid-career professionals searching for jobs. Most applicants are aged between 20 and 26, although British Gas said some were in their fifties." (Sunday Times, 18 April) RD

Not so short shorts

WASHINGTON - Goldman Sachs Group Inc. officials boasted in late 2007 about the money the investment bank was making from betting against risky mortgages, according to a collection of e-mails released by a Senate panel on Saturday. A

The e-mails were released ahead of a hearing on Tuesday by the Senate Permanent Subcommittee on Investigations into the origins of the financial crisis and as the bank battles a fraud lawsuit by the Securities and Exchange Commission.

"Of course we didn't dodge the mortgage mess. We lost money, then made more than we lost because of shorts," Goldman Sachs Chief Executive Lloyd Blankfein said in an e-mail dating from November 2007.

"Sounds like we will make some serious money," said Goldman Sachs executive Donald Mullen in a separate series of e-mails from October 2007 about the performance of deteriorating second-lien positions in a collateralized debt obligation, or CDO.

Short positions are bets that the market will go down. As the housing bubble burst, Goldman and a few powerful hedge funds took short positions on the market. Many of those bets required other investors to bet the market would rise.

When the market went bust, people with short positions cleaned up.

The subcommittee is due to hear from Blankfein and other Goldman executives about the role of investment banks in the financial crisis.

Commenting on the e-mails, Sen. Carl Levin, chairman of the subcommittee, said that they showed Goldman "made a lot of money by betting against the mortgage market."

"Investment banks such as Goldman Sachs were not simply market-makers, they were self-interested promoters of risky and complicated financial schemes that helped trigger the crisis," Levin said in a statement.

(msnbc.com news services, 24 April)

ANOTHER SIDE OF BILL GATES

"The image Microsoft dosen't want you to see:Too tired to stay awake, the Chinese workers earning just 34p an hour. Showing Chinese sweatshop workers slumped over their desks with exhaustion, it is an image that Microsoft won't want the world to see. Employed for gruelling 15 hour shifts. in appalling conditions and 86f degrees of heat, many fall asleep on their stations during their meagre 10 minute breaks. For as little as 34 pence an hour, the men and women work six or seven days a week, making computer mice and web cams for the American multinational computer company". (Daily Mail, 18 April) RD

rich list

The Sunday Times Rich List has just been published and makes interesting reading.

67 Scots in the top 1,000 against 64 last year. The 100 richest Scots, are worth £16.15 billion, up 15.1% on last year’s £14.03 billion.

CAPITALISM IS GOOD I JUST NEED A PILL

"Where exactly does the difference lie between extreme human behaviour and a psychiatric illness? The question is being asked because as a US encyclopedia of psychiatry is rewritten for the first time in more than a decade, controversy is already raging about what goes into it, and what gets thrown out. Critics say that the revised edition of the Diagnostic and Statistical Manual of Mental Disorders (or DSM, as it is commonly known) will lead to an explosion of healthy Americans being prescribed powerful drugs. Patients' rights groups are angry that it will lead to more people being stigmatised as mentally ill. "The conditions that we grew up thinking were in the normal spectrum of human behaviour " sadness, disappointment, anger" are now considered a psychiatric or psychological disorder. It has become part of a national epidemic," said Alex Beam, a newspaper columnist and author of Gracefully Insane, a book about the history of McLean psychiatric hospital in Massachusetts." (Independent, 13 April) RD

A VERY GOOD YEAR

"Bart Becht, the chief executive of consumer goods group Reckitt Benckiser, proved yesterday that where there's muck, there's brass, by pocketing more than £90m in pay, benefits and share options for 2009. Becht's earnings, detailed in the FTSE 100-listed company's annual report, include his basic salary of £987,000 and a performance-related bonus of £3.5m. But the real polish to Mr Becht's pay packet came in the shape of exercised share options and the vesting of restricted shares, which pushed his total remuneration for last year up by more than £87m. Reckitt Benckiser makes products ranging from Vanish stain remover, to Finish dishwasher tablets and Cillit Bang, the limescale treatment." (Independent, 8 April) RD

HOME SWEET HOMES

"In the eyes of Abramovich, when it comes to homes, be they city pads, rural retreats or seaside getaways, you can never have too many. The tycoon owns a country estate at Fyning Hill, near Rogate, West Sussex, which he bought for £12m in 1999 from the Australian media magnate Kerry Packer. The 420-acre estate includes a seven-bedroom house, two polo pitches, stables for 100 horses, a tennis court, a rifle range, a trout lake, a go-kart track, an indoor pool and Jacuzzi and a plunge pool. He reportedly ordered in 20,000 grouse and pheasants to indulge his passion for shooting. In 2004, he was reported to have added the Chateau de la Croe on the French Riviera to his portfolio for £15m. The 12-bedroom villa, on the exclusive Cap d'Antibes between Nice and Cannes, was once the residence of the Duke and Duchess of Windsor, who held lavish receptions there. Built for an English aristocrat in Victorian style in 1927, the property sits next door to the Villa Eilenroc, built in 1867 by Charles Garnier, the designer of the Paris Opera. Previous owners include the Belgian King Leopold II, Aristotle Onassis and Greta Garbo. Last month he bought Wildcat Ridge, a mansion near Aspen, Colorado, from Leon Hirsch, former head of the medical firm US Surgical, for $36m (£18m). The 14,300 sq ft house sits in 200 acres of land rising 1,000ft above Snowmass Village. It was reported last month that Abramovich planned to build the most expensive private residence in Britain, a £150m mansion in Knightsbridge." (Independent, 19 April) RD

RIGHT WING NONSENSE

"The demonstration was marked by the same rhetoric that has galvanised the Tea Party movement and which crowds hear from Sarah Palin on an almost daily basis: disgust with Mr Obama's agenda, rage at his health reform legislation, Government bailouts, accusations of a socialist White House and an unconstitutional takeover of American life by Washington. "We are in a war,"said Larry Pratt, president of Gunowners of America. "The other side knows they are at war because they started it. They're coming for our freedom, for our money, for our kids, for our property. They're coming for everything because they are socialists." (Times, 20 April) RD

RELIGIOUS NONSENSE

"Women who wear immodest clothing and are promiscuous are to blame for earthquakes, an Iranian cleric said. The explanation for tremors in one of the most earthquake-prone countries came after President Ahmadinejad predicted a quake and suggested that many of Tehran's 12 million residents should move. Hojatoleslam Kasem Sedighi was quoted by Iranian media as saying that adultery increased quakes and the only solution was to take refuge in religion." (Times, 20 April) RD

HOUSE HUNTING?

"One Hyde Park, a new apartment building in Knightsbridge, will be official launched this evening, with its developers seeking as much as £6,000 per sq ft for 40 unsold apartments. It is a record not merely for London but for anywhere in the world this year and almost twice the best achieved last year. ...According to Harrods Estates, the property division of the store group, prices routinely achieved in this part of Knightsbridge are a more modest £3,000 - £4,000 per sq ft (the average in the UK is £220) Two-bedroomed flats are changing hands for up to £4 million, with much of the demand coming from the Middle East, the Far East and Russia." (Times, 19 April) RD

NEVER STEAL ANYTHING - SMALL

"Lawyers in the United States were predicting a wave of legal action last night in the wake of the $1 billion fraud charge brought against Goldman Sachs by the US Securities and Exchange Commission. ... The bank and Fabrice Tourre, one of its vice-presidents, were charged with securities fraud. There is speculation that more senior executives at Goldman could be implicated in the case." (Times, 19 April) RD

Food for thought

The Toronto Star (6/March/2010) asks "Who will be tomorrow's
Builders?" It goes on to list the famous men (no women!) who have "built"
the great concert halls, university colleges and other public and private
buildings of Toronto. Maybe I have missed something here. I thought
builders wore jeans and hard hats and poured the foundations, and framed
the buildings and plumbed, wired, and finished them. The former group only
wear suits and sit on their backsides. Do we really have to wait around
for these useless idlers to get anything done?

Many people have lost their homes in this recession, and been put out on
the street with nowhere to go. This is a bad thing. The US government,
however, has been able to build a whole village styled after those in
Afghanistan so the troops, American and Canadian, can practice the art of
killing other human beings more efficiently. This is supposed to be a good
thing(?).

The Ontario government and the developers are salivating over exploiting
Ontario's chromite rich Ring of Fire, located in a vast area of pristine
lakes and wilderness in the province's North Country. As usual in
capitalism, the squabble to get a piece of the action has already begun.
The native people on whose land the Ring of Fire lies are demanding their
share by occupying the landing strips and promising more action. The
government representatives have shown up to convince the native bands
that development is in their interests. They even filled the local school with
fresh fruits and vegetables, which, apparently, are not available in
winter, and presumably not available at all if you are not sitting on rich
assets! One hundred and fifty years later, the white man is still offering
to rob the native people blind with a few baubles and beads. Incredible
how the more things change… John Ayers

THE ADVANCE OF POVERTY

Every day we can read about the expansion of capitalism and how new industrial and commercial giants are arising to challenge the supremacy of the USA. Two of the leading candidates in this struggle are China and India. We are constantly hearing about the modernisation of these countries and the supposed benefits of the expansion of capital. We don't hear so much about the plight of the working class there though. The following news item about India illustrates that the supposed benefits of capitalist modernisation are not so wonderful after all. "India has 100 million more people living in poverty, official figures show, 37.2 per cent of the population compared with 27.5 per cent in 2004, with 410 million people below the UN poverty line of $1.25 a day." (Times, 19 March) Surviving on a pound a day while the owning class of that country now boast of the richest men in the world, that's capitalism for you! RD