Homeless

Mrs Thatcher's old boast about making Britain a "property-owning democracy" seems a little lame today as the number of tenant households in England and Wales evicted from their homes hit record levels in the third quarter of the year, with cuts to social security among the factors leading to more than 100 evictions a day. 'Figures from the Ministry of Justice show that 11,100 rented properties were repossessed by bailiffs between July and September, the highest quarterly figure since the records began in 2000. ..... By the end of September , more than 30,000 tenant householders had lost their homes, and the figure is on track to be higher than the 37,792 recorded in 2013.' (Guardian, 13 November)   RD       

Go red, not green

Humanity faces a global crisis caused by the capitalist system. There is catastrophic climate change which threatens to end life on our planet, then there is endemic war and conflict, mass poverty a ruthless assault on working people working and living conditions worldwide. Capitalism will destroy the human race. It is absolutely clear that the ruling class will continue to put the drive for corporate profit ahead of everything, even our own future as a species. It is incapable of changing. Even when it recognises the danger it cannot stop doing what it does. If capitalism is not overthrown, humanity is most likely doomed. The only way out is the abolition of capitalism and its replacement by socialism. The World Socialist Movement reject in advance any argument that the crisis of global warming and climate change is so critical that it stands above politics or that there is no time to build a mass socialist party or that we can’t wait for socialism to replace capitalism. We don't propose waiting for anything — we are campaigning all the time and are trying to drive the struggle forward right now. But the basic point still stands: the capitalist class is leading humanity to absolute disaster and its class position means it cannot and will not do anything else. What is necessary is to organise the forces capable of prising its mad grip from the steering wheel and carrying out a drastic change of course.

Under capitalism, the working class owns only its petty, personal property (clothes, a car, perhaps a house, etc.). It doesn’t own any part of the economy — the mines, factories, offices, supermarkets, banks etc. — these belong to the capitalists — so in order to live workers have to go and work for the bosses and pay tribute to them (the famous "surplus value" discovered by Marx). Their labour is "free" only compared to the past (i.e., to slavery and serfdom). Workers can choose their employer but they cannot avoid working for one or another member of the capitalist class. In the essence of the matter they are slaves of the capitalist class as a whole. This is why Marx termed capitalism a system of "wage slavery". The great mass of workers can never escape their proletarian, propertyless condition. Only by making a socialist revolution can the workers collectively become owners of the means of production which they operate. Under capitalism, the working class is a ground-down, deeply divided mass — it is simply fodder for exploitation by the bosses in the workplace. Workers are forced to compete against each other for jobs. They are divided by nationality, ethnic background or skin colour; by skill and type of work (blue collar, white collar, etc.); by their wage and general conditions of work; and by age and gender. These divisions are skilfully exploited by the capitalist class to keep the workers disunited and turned in on each other.

The all-pervasive mass media workers ensures the workers receive a fantasy view of what is actually desirable and possible for them. The socialist must challenge this by making clear that people cannot live without perspectives, without hope for the future. Those who hope to organise a great movement of the masses must never forget this, never fail to inspire fellow workers with confidence that the future will be better than the present if only we strive to make it so. The idea of socialism, of the good society of the free and equal, is not a utopian fantasy but the projection of future reality. When this idea takes hold of the people it will truly be the greatest power in the world.  The world will be changed by people who believe in the boundless power of the socialist idea.

The environmental movement is stuck on false panaceas like cap-and-trade, cutting individual consumption (“live others so that others may simply live”), and outright reactionary “solutions” that revolve around some form of population control (as if the number of people on the planet was the problem rather than the nature of the relationship between said people and the planet). A truly effective environmental movement needs to connect with the only social force within the capitalist system that can win real change – the working class.

Capitalism is organized around companies making as much money as quickly as possible; if they don’t, their competitors will drive them out of business. As a result, corporations have an incentive to pollute because investing in clean technologies for their business would be costly and cut into their precious profits. Furthermore, there are entire branches of industry that depend on pollution – gas, coal, and the auto industries, to name just a few. They have a vested interest in blocking any kind of meaningful development of green technology or any tinkering with the transportation infrastructure which is heavily car-centered.

If capitalism can’t be reformed to subordinate profit to human survival, what alternative is there but to move to a globally coordinated economy? Problems like climate change require the ‘visible hand’ of conscious planning. Capitalist leaders can’t help themselves, have no choice but to systematically make wrong, irrational and ultimately suicidal decisions about the economy and the environment. The fact that ecological problems don’t respect national or institutional borders is often used as an excuse for inaction, leading to the chronic breakdown of global climate negotiations. But that interdependence should be an impetus to reinvigorate the workers movements — a reminder that sustainability will come only through global solidarity. So then, what other choice do we have than to consider a true eco-socialist alternative? Is this Utopia?  But are not utopias, i.e. visions of an alternative future, wish-images of a different society, a necessary feature of any movement that wants to challenge the established order? The socialist ecological utopia is only an objective possibility, not the inevitable result of the contradictions of capitalism, or of the ‘iron laws of history’. One cannot predict the future, except in conditional terms: what is predictable is that in the absence of an eco-socialist transformation the logic of capitalism will lead to dramatic ecological disasters, threatening the health and the lives of millions of human beings, and perhaps even the survival of our species. What we need is socialism that points not to the primacy of ecology, but to the integration of natural and social, organic and industrial, ecological and technological; that recognizes human transformations of the natural world without simply asserting domination over it. We’re not talking about preserving an idealised picture of pristine, untouched nature — we’re talking about the world we choose to make, and the world we’ll have to live in. Workers don’t need to go green to save the planet - they need to go red.

Soup Kitchen Scotland

Figures have revealed that an increasing number of poverty-stricken families in Scotland are turning to charity food banks as they are grappling with mounting economic woes.

According to fresh figures recently released by the Trussell Trust, which operates the largest network of food banks in the UK, the number of hard-up Scottish families who depend on food banks to survive has doubled in the last year. The report said more than 51,000 people reached for the charity service to receive a three-day supply of food between April and September this year, which is up some 124 percent compared to the same period last year. The data further show that more than 15,000 children were among those relying on charity food in Scotland.

“Welfare problems still account for the highest proportion of those using our food banks in Scotland,” explained Ewan Gurr, the Trussell Trust’s network manager in Scotland. He also voiced alarm over the soaring number of Scottish families relying on charity food, adding, “The rising cost of food and fuel for those on static incomes and minimal employment opportunities for those both in work and out of work is forcing many families to deal with the horror of hidden hunger.”

In December 2013 over 9,000 men, women and children received emergency food parcels, around 45 percent higher than the previous month.

The Scotland’s Outlook campaign group estimated that more than 870,000 people were currently living in poverty across Scotland as a result of the UK government’s welfare and benefit reforms.

More Cuts

Bed-blocking is bringing the NHS "to its knees" with doctors unable to discharge more than 1,000 patients each day, a study reveals today. 'The crisis has deepened due to a lack of available council-provided care for the elderly. On one day this September, staff were unable to move 4,966 patients to another part of the NHS or into council care - the most since 2010. That month, a total 138,068 "days of care" were lost due to these delayed transfers, analysis by Sky News found.' (Daily Mail, 18 November) What lies behind this crisis? No suprise here - it is due to major welfare cuts.  RD                   

A Wonderful Town?

Frank Sinatra may have sung about New York being a wonderful town, but that all depended on what class you belonged to. Not so wonderful if you happened to be one of the following. 'There are about 3,357 unsheltered people living on New York's streets, a 6% rise from 2013 to 2014, continuing a trend that began a few years ago. But the vast majority of New York's homeless live in shelters across the city, and at 53,615, there are more people living in shelters than ever before.' (AlterNet, 23 October) At the same time, the condos cropping up in Manhattan and parts of Brooklyn show no signs of abating, bringing in more rich people. Between 2003 and 2013, the number of inhabitants with a net-worth of over 30 million dollars (known in wealthy circles as ultra high net worth individuals, or UHNWI) rose higher in New York than any other city in the world.  RD     

Another NHS Failure

We live in a money-mad society. If you have enough money you will be provided with the best possible food, clothing and shelter. This of course also applies to health care as a recent survey of GP surgeries revealed. 'Health watchdog the Care Quality Commission (CQC) has ranked almost every GP surgery in England in terms of risk of providing poor care. The majority are of low concern, but 11% have been rated in the highest risk band by CQC. Many of the elevated-risk practices had possible issues with appointments, mental health plans, and cervical cancer screening.' (BBC News, 18 November)   RD          

A Cancerous System

The whole purpose of capitalist production and distribution is in order to make a profit as was recently highlighted by an imminent scientist. 'Professor Paul Workman, chief executive of the Institute of Cancer Research in London, accused "risk averse" pharmaceutical firms of only developing drugs they knew will turn a profit.' (Daily Mail, 24 October) He went on to claim that theoretical scientists have identified 500 cancer-related proteins which could be attacked by drugs - but only 5% per cent of these treatments have so far been developed. The major problem he said was a financial one. RD

Crime And Punishment

Every night on TV we sit and wonder at the the brilliance of our police force in solving perplexing crime riddles, but let's face it - it is only TV. An HM Inspectorate of Constabulary report looked at more than 8,000 reports of crime in England and Wales between November 2012 and October 2013, across all 43 forces in England and Wales, and came to some startling conclusions. 'More than 800,000 - or one in five - of all crimes reported to the police each year are not being recorded by officers, a report suggests. The problem is greatest for victims of violent crime, with a third going unrecorded. Of sexual offences, 26% are not recorded.'  (BBC News, 18 November) One in five not even recorded - let alone solved! RD

Eco-socialism, another grand concept with an adjective.

Marx summed up radical green politics when in Capital III he noted:

“From the standpoint of a higher socio-economic formation, the private property of individuals in the earth will appear just as absurd as the private property of one man in other men. Even an entire society, a nation, or all simultaneously existing societies taken together, are not owners of the earth, they are simply its possessors, its beneficiaries, and have to bequeath it in an improved state to succeeding generations, as boni patres familias” [good heads of the household]”

Marx took Feuerbach’s notion of fetishism to describe such radical humanism. Feuerbach famously argued that human beings invent gods and goddesses, forget they have invented them and bow down to worship their own creations. Marx reminds us that human beings, through social action, create the economic system; we then forget that the economy is a human construct and worship it as if it were a god. Ecological sanity can only come when we recognise that the present economic system of capitalism is a social construct that must be overthrown. In Chapter One of Capital is the idea of use value as opposed to exchange value. A capitalist economy is focused on exchange values - we could increase use value by making goods that last longer, by extending the library principle to all kinds of goods. Even in a market-based society, car pools exist. Real prosperity means that we have access to useful things; it is quite different from wasteful increases in Gross National Product (GNP). Under capitalism resources that are free - from land to ideas - are essentially stolen, fenced in and sold back to us. The enclosure and commodification of labour is the most important form of enclosure. This increases exchange value (GNP) but makes us poorer. Some of Marx’s earliest political writings examined the imposition of laws that prevented peasants from gathering fallen wood in German forests. The open source principle of free access and creativity is an example of how enclosure can and should be fought. A society controlled by the few must be replaced by one that works for all. We must overcome a society based on blind accumulation.

The Green Party and many of its supporters do not recognise that they require a struggle against the capitalist system. Signaling the challenge to the old politics the Green Party has been modestly successful contesting elections. It's true that the environment movement has brought a new vocabulary and "discourse" into political life. The Greens vote is the result of growing disillusion with Labour and a steady growth in concern about environmental issues. The Greens presented themselves as a party to the left of Labour (which is not too difficult). But ‘green socialism’ is all about taking a stand against ‘green capitalism.’ In the process, many of the traditional socialist themes – e.g., distribution, power and property, planning and democracy – are updated and linked up with the new issues. Those involved in the Green Party are clearly sincere in their opposition to various versions of capitalism and their desire for a better world, but they seem to have no real conception of what "socialism" might mean. The working class, exploitation, the labour movement, do not figure at all. Neither does collective ownership. Their "socialism" is more a catchphrase for good causes in general than a vision of the democratic transformation of society, by workers, from below. While the Green Party may hold some good socialist members, and present some reforms, it is not a party of socialism and in the end will degenerate into a party that offers bike-lanes and budget cuts. Socialists must challenge green politics showing how ecological issues are of top relevance to the quality of life of working people.

The “green economy” focuses on commodification and the market. Yet the market takes too long to resolve problems, and the big corporations behind fossil fuels want to get a foothold in “green energy” at the same time as keeping their fixed capital. Their idea of a “green economy” favours technological fixes based on private property, for example large-scale projects such as huge offshore wind parks, and transcontinental super-grids for long-distance energy exports from Sahara desert solar facilities. Yet it is impossible to meet the challenge of reducing greenhouse gas emissions and catapulting the entire economy from the 150-year old age of coal and oil into the future of solar and wind without provoking crises. It is necessary to transform the mode of production and living so it is predictable that when some of the old branches of industry and their capital come under attack, it will in turn trigger resistance. Conversion of polluting and resource-intensive capital stock to environmentally benign alternatives? Impose green taxes? Just how viable will they be to the likes of the Koch brothers? Dreams of a "steady state" capitalism beloved of an ecological economist like Herman Daly and environmentalists like Lester Brown and the authors of Sharing the World are simply that — dreams. They accept that the market system is untouchable and look for salvation in changing the behaviour of individual consumers and adoption of energy-saving technology. However, since capitalism is addicted to expansion, and devotes vast resources to this effort, there's no reason at all to expect that gains in resource efficiency will go into reduced usage of resources and not into increased throughput and growth rates. The principle that "the polluter pays" will be a principle more honoured in the breach than the observance. But modern corporations have corporate lawyers who find loopholes and who appeal the penalties.

The alternative to socialism is literally destruction. As socialists we are aware of how very far down the road to making the planet uninhabitable for humans capitalism is, and how many humans have already suffered and are already suffering from the damage the profit system has done to our planet. We possibly have one more generation before it is too late. There won’t be any socialists, there won’t be any socialism, when nobody can breathe. Climate change is real and it’s as urgent as it gets that we make radical changes if we want a future on this planet. The working class have to continue to see ourselves as revolutionary because we are the part of humanity most indispensable for our survival. The Socialist Party viewpoint simply means that, until the working majority sets the rules of the political and economic game, any gains in such battles are provisional and vulnerable to co-option and reversal.

The environmental crisis tends to manifest itself either in the form of local outrages (motorway proposals, polluted rivers) or vast global problems (hole in the ozone layer, global warming, fishery depletion, global deforestation), and it's not surprising that environmental activists overwhelmingly get tugged in one of two directions and away from any revolutionary perspective.

The first is towards case-by-case guerilla warfare against specific environmental outrages, which the crisis will supply to the movement as if on a conveyor belt running at ever greater speed. The second is toward the organisations "that have the power to do something" — government ministries, United Nations agencies or even and increasingly, the “greener” corporations, themselves. What is at stake in this discussion is not whether governments can't be induced to change their mind on this or that dam or their objection to the very idea of a carbon tax, but whether any capitalist government, representing the "common affairs of the bourgeoisie", can subordinate the overall interests of capital to those of the environment for any length of time. Once that impossibility is truly grasped then environmentalists have no choice but seriously to measure their present ideas against the basic concepts of socialist theory and politics. Membership of a Green party, sometimes involving serious commitment to campaigns, but almost always involving confusion about goals and vulnerable to drowning in parliamentary tomfoolery of reformism. The slogan "Think globally, act locally" has the direct implication that each and every local initiative in recycling, economising on water and energy use and cutting waste can, summed together, make a critical difference. Decades of thinking globally and acting locally, while yielding a host of small victories, has not been able to reverse any major trend in environmental degradation. That's because it offers no pathway from the local to the global, no feasible strategy for making local action begin to count globally. This is all the more true because the local is hardly ever purely local, but linked to national and international webs of production, trade and investment shaped by the national and international division of labour. The "local" is forged by an increasingly global capitalism, which protects its interests through national and international state and semi-state bodies.

The concerned environmentalist has a choice between an ecological version of socialism or capitalism. We can reform it or replace it with something more democratic. The central issue is that of working class political consciousness, of imparting the true picture of a capitalism whose insatiable hunger for profit is not only devouring the working and living conditions of hundreds of millions of working people but the underpinnings of life itself. The future of our planet depends on building a livable environment  and a socialist movement powerful enough to displace capitalism.

‘Nothing should be made by man’s labour which is not worth making; or which must be made by labour degrading to the makers…Worthy work carries with it the hope of pleasure in rest, the hope of the pleasure in our using what it makes, and the hope of pleasure in our daily creative skill. All other work but this is worthless; it is slaves’ work — mere toiling to live, that we may live to toil.’ William Morris

Modern Slavery

Nearly 36 million people worldwide, or 0.5% of the world's population, live as slaves, a survey by anti-slavery campaign group Walk Free says. 'The group's Global Slavery Index says India has the most slaves overall and Mauritania has the highest percentage. The total is 20% higher than for 2013 because of better methodology. The report defines slaves as people subject to forced labour, debt bondage, trafficking, sexual exploitation for money and forced or servile marriage.' (BBC News, 17 November) It uses slavery in a modern sense of the term, rather than as a reference to the broadly outlawed traditional practice where people were held in bondage and treated as another person's property. The Global Slavery Index's estimate is higher than other attempts to quantify modern slavery. In 2012, the International Labour Organisation estimated that almost 21 million people were victims of forced labour. RD

Trouble Ahead

Capitalism is full of surprises just when it appeared that there was a partial world economic recovery along comes another Asian shocker.  'Japan's economy unexpectedly shrank for the second consecutive quarter, leaving the world's third largest economy in technical recession. Gross domestic product (GDP) fell at an annualised 1.6% from July to September, compared with forecasts of a 2.1% rise. That followed a revised 7.3% contraction in the second quarter, which was the biggest fall since the March 2011 earthquake and tsunami.' (BBC News, 17 November) Now economists are saying the weak economic data could delay a sales tax rise. RD

A New Menace

China has unveiled its new stealth fighter at a recent air show as it increasingly exerts its influence in  the East China Sea and the South China Sea. 'China's newest stealth fighter jet debuted at air show here Tuesday, as the country put its military technologies on display. The J-31 which bears resemblance to the latest American F-35 stealth fighter, was showcased on the opening day of the biennial China International Aviation & Aerospace Exhibition, or Airshow China.' (Asian Review, 12 November) It is China's aim to have mass production of the J-31 within five years in a direct challenge to the USA. RD

More Double Dealing

Despite George Osborne, the Chancellor of the Exchequer's much repeated mantra about about "all being in this together" as far as economic difficulties are concerned, recent research by economists at the London School of Economic Research at the University of Essex exposes that as total nonsense. 'According to independent research to be published on Monday, and seen by the Observer George Osborne has been engaged in a significant transfer of income from the least well-off half of the population to the more affluent in the past four years. Those with the lowest wages have been hit hardest.' (Observer, 16 November) RD

Another NHS Crisis

Under-funding and under-staffing is a major problem at many NHS Hospitals, but there is a particularly nasty disorganisation at  Colchester Hospital where the Accident & Emergency is the last place you want to go if you have an accident. 'Colchester Hospital has declared "a major incident" following an inspection by the Care Quality Commission (CQC). The hospital trust said the major incident is likely to last a week, and asked patients to visit Accident & Emergency only if they have a "serious or life-threatening condition".' (Guardian, 14 November) This is not a new problem as there has been 18  months of problems at Colchester leading to the Chief Executive, the chairman and various other officials having to leave. RD

Oppose Nationalism

Socialists are internationalists. Whereas nationalists believe that the world is divided primarily into different nationalities, socialists consider social class to be the primary divide. For socialists, class struggle--not national identity--is the motor of history. And capitalism creates an international working class that must fight back against an international capitalist class. Capitalism is a world system and socialism can’t survive in one country, it has to be worldwide. For that reason the Socialist Party is implacably opposed to nationalism, which ties working people to our rulers and divides us from working people in other countries. The “national interest” propaganda binds workers hand and foot to their employers, blinding them to their true interest in working-class solidarity. Socialists argue that workers have no interest in the nationality of the factory owners or the land owners. We are working towards the working-class majority taking power and implementing common ownership. Once freed from market forces, the world’s resources will be used to meet human need.

Consistent international socialism as represented, for instance, by Rosa Luxemburg, opposed Bolshevik “national self-determination.” For her, the existence of independent national governments did not alter the fact of their control by the super-powers through the latter’s control of world economy. Capitalism could neither be fought nor weakened through the creation of new nations but only by opposing capitalist nationalism with proletarian internationalism. It is not the function of socialism to support nationalism. Contrary to earlier expectations, nationalism could not be utilized to further socialist aims, nor was it a successful strategy to hasten the demise of capitalism. On the contrary, nationalism emasculates socialism by using it for nationalist ends. It is not possible to support nationalism without also supporting national rivalries and war. No matter how utopian the quest for international solidarity may appear no other road seems open to escape fratricidal struggles and to attain a rational world society.

Although socialists’ sympathies are with the oppressed, they relate not to emerging nationalism but to the particular plight of twice-oppressed people who face both a native and foreign ruling class. Their national aspirations are in part “socialist” aspirations, as they include the illusory hope of impoverished populations that they can improve their conditions through national independence. Yet national self-determination has not emancipated the laboring classes.

Socialism will rise again as an international movement - or not at all. Those interested in the rebirth of socialism must stress its internationalism most of all. While it is impossible for a socialist to become a nationalist, the fight against colonialism does not imply adherence to the principle of national self-determination, but expresses the desire for a non-exploitative, world socialist society. While socialists cannot identify themselves with national struggles, they can as socialists oppose nationalism, colonialism and imperialism. It is not the function of socialists to fight for a nation’s independence but to strive for a socialist society. A struggle to this end would undoubtedly aid the liberation movements yet it would be a by-product of and not the reason for the socialist fight against neo-colonialism. The success of that struggle depends on achieving the greatest possible unity of the working class, it is utterly ridiculous to argue that the working class ought to divide itself into different countries in order to accomplish this unity. It is completely absurd to justify this with the false argument, disproven many times, that the battle for socialism would be easier if it were led by a more nationally “pure” and homogeneous working class.

Working class unity is a must right now if effective resistance is to be mounted to the crisis measures imposed by the capitalists. Unity is necessary to stand up against all the attacks on our democratic rights. Unity is the key in putting an end to the discrimination suffered by the oppressed. The working class faces a powerful and aggressive enemy which is solidly united despite the real contradictions within its ranks. The people are not going to win by dividing themselves. Those who dress up as socialists in order to push nationalism in the working class are the objective allies of the capitalists. The “left” nationalists would have us believe that the national demands of the people can only be met through independence. Thus, they claim, the task is to transform bourgeois independence into a socialist independence. In reality, they find themselves in the camp of those promoting division of the working class. The difference between nationalists and the other capitalist parties is not that they call for a different social system. What’s different is that they are looking for a new sharing of powers. The sharing will just be between groups of capitalists. Supporting nationalism in the name of the light for socialism is a monumental hoax. It flows from the same kind of logic that leads others to preach the nationalization as the cure for all our ills. It is up to the working class to show that it will not be duped by their political nonsense and deceitful rhetoric. Socialists have a responsibility to the working class to warn the workers as tactfully as possible of their mistaken course. At the present time, the capitalist class is launching a furious ideological counter-offensive against the ideas of socialism, it is our duty to stand firm in defence of the fundamental ideas and principles. We must reject the false road of shortcuts and panaceas, which leads to the quagmire of opportunism.

The Socialist Party cedes no concessions to the ideas nationalism and we continue to fight for the ideas of class unity and internationalism as the only way forward for the workers everywhere.

A Murderous Society

A MURDEROUS SOCIETY                                      

Politicians love to speak to the media about all their strenuous efforts to bring about peace in the world and to cut military expenditure. Despite these platitudes the facts are completely different though. 'The United States has announced  an urgent $10 billion upgrade of its nuclear weapons arsenal after two hard-hitting reviews found that decades of neglect have left its most significant line of defence in disrepair.' (Times, 15 November) All this is part of the US start on $1 trillion military upgrade. Such obscene expenditure shows wherein capitalism's priorities lie. RD

Modern Wage Slavery

In their quest for bigger and bigger profits there is no depth to which the capitalist class will not stoop. Take the awful exploitation of Asian children in the garment industry. 'Girls as young as 11 are being paid as little as £6 a month to produce the raw materials used to make garments for sale in Britain, an investigation by The Times has found.' (Times, 15 November) The report goes on to show that 200,,000 girls are employed at many of the 1,600 spinning mills across Tamil Nadu, in what amounts to a form of slavery. RD

More Madness

MORE MADNESS                                        

Capitalism is an insane society, but we doubt if you could get better proof of its craziness than the following news item. ''Bill Gross, the "Bond King" who stunned Wall Street when he left his job as chief executive of the world's biggest bond business, is understood to have taken home a $290 million bonus last year, even as Pimco was preparing  to give him the boot.' (Times, 15 November) The report goes on to mention that Mr Gross's bonus came in at 5,684 times the median US household income of $51,017 last year. RD

More Hypocrisy

MORE HYPOCRISY                                        

David Cameron has compared Russia to Nazi Germany because of its actions in  Ukraine on the eve of a tense meeting with Vladimir Putin.  'Mr Cameron will on Saturday night challenge Mr Putin about Russia's continued  acts of aggression in Ukraine as it supplies heavy weapons and tanks to the separatists.  In a reference to World War II, Mr Cameron said that the world must  "learn the   lessons of history" and intervene to stop a larger state bullying a smaller state".' (Daily Telegraph, 14 November) Cameron is really indulging himself in a piece of complete hypocrisy here. All large states bully smaller ones. The British Empire was build on just such a tactic. RD

Feeling Depressed?

FEELING DEPRESSED?                                         

It was a hallmark of USA capitalism, it was named as the Great Depression and gave rise to all those movies about the homeless and unemployed begging in the streets, but according to the latest research perhaps it is time to look out those old film scripts again. 'Not since the Great Depression has wealth inequality in the US been so acute a new in-depth study found. The research by Emmanuel Saez and Gabriel Zucman (pdf) illustrates the evolution of wealth inequality over the last century.' (Guardian, 14 November) The figures are startling. Today the top 0.1% are worth the same as the bottom 90%. Time for "Buddy, can you spare a dime" to make it into the record charts again? RD