Jul 12

As we survey the reality of a Europe run by rhetoric, bullshit and idiotic grasp of economics. We realise we have a poor hating cretin hive in London one wonders where the fuck are the left? Oh they appear in distressed countries as do the fascists and bottom feeders. Why this void? The answer is they do not have the economics or understand the problems. As said before the neo Lib’ right has run down the disposable wealth/income of most people in Western societies and we have not noticed. ‘Left’ parties like Labour have morphed into a moving peg marginally to ‘the left’ on some issues but covering up for this with an authoritarianism that sees the Obama/Brown Administrations de facto wanting cameras in everyone’s homes [exaggerating for effect].

The neo Lib Left want to protect people for a slower exploitation by the logic-less tenants of neo Liberalism and the neo Lib Right to protect Finance and Corporates from any kind of economic dynamism and proper controls – Zombie economy. In the face of this open goal of ridiculous views the actual Left have nothing to say but cling to Climate Change and other issues and high moral ranting? It’s a mess with no effective opposition we can expect enough people to keep re-electing it. That only requires 25% buy in in the UK and US. Indeed in Greece the greed of older generations and the desire to hang on to the Silver turds means that even a country where it makes no sense clings to its Euros even as they gut their own banking system to hold them.

We can cry for Greece or the poor or realise this is a race to the bottom and our opponents will do anything they can sell with blame rhetoric. Being nice winning arguments and feeling moral will win nothing bar the odd equality victory which costs nothing and achieves only marginally more.

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Jul 09

The Greeks were probably not brilliant in their negotiations but equally most of the rhetoric on their incompetence etc comes from neo Liberals without any meat or facts. The problem is what Greece wants is not on the table – Debt relief. Europe wants more and more extend and pretend and misery in the periphery. The irony being the technocrat [neo Liberal banker pets] Govts of Italy, Spain, Finland and Ireland are concerned their populaces will want some too.

In reality few outside The Troika argue that Greece’s suggestions are anything but sane. Few would argue that an austerity George Osborne trumpets but makes sure he does not deliver (just an excuse to boot the poor IMO) that was imposed on Greece can or will work. Few would argue that taxing Greece’s oligarchs does not make sense – except the very amusing troll @Greek_Analyst. Yet that is the deal imposed if they do not default.

In some ways this illustrates the rhetoric games of neo Liberalism. You impose a choice like the prisoner’s dilemma and regardless of any other choices that could be available you ensure those are the only alternatives they can choose. You then morally browbeat them and blame if they try to break the confines of your sick game and choose the alternative that involves risk.

No winners here but Europe has shown itself as a petty stupid confederacy of dunces.

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Jun 28

No doubt if you looked at graphs real wages have flat lined for years and but but our houses are worth a shit load apparently. Well anecdotal will do today….

I was in London drinking in Hammersmith not a particularly posh borough in the past. Yet if I earned a 100 grand and had a wife and 2 kids could I even afford to live there? If I was on average household income of £38,547 could I?

I was put in mind of the 70s lifestyles of Lunchtime O’Booze journalists who crushed beers all afternoon every day. Could you on a hundred grand a year sit in a pub every afternoon and live in or around central London? Never mind a journalist’s salary?

The subsidy of housing is if not making us poorer in the way income is measured is certainly changing what we can and cannot afford. How close to London we can live and hence how far we commute.

As with Greece the unwinding of these artificial economic constructs will be harsh. The eventual great sell off of housing by income poor boomers will lead to a correction as the ‘wealth’ they have appropriated in pre existing bricks and mortar disappears. The problem is of course now they force up land prices and we are forced to the ‘burbs as London property becomes the money laundering tool of preference [HSBC excepted] and the UK Govt pours in subsidy to make the criminals and landlords richer.

Thus us the people better off? Unlikely.

Losing an hour a day to travel to work. Lost lifestyle choices no longer available. Quality of life lost. Unarguably.

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Jun 20

Will it make it easier on you now
You got someone to blame
U2 One

It’s said by some that Socialists eventually run out of other people’s money. With neo Liberalism it’s might be people to blame – if that is possible.

Its central construct is that all taxes and debts are the responsibility of taxpayers. The problem with this construct is it requires low interest rates to support the resulting debt mountain caused by transferring assets/subsidies to and inflating assets of the wealthy and debt to the populace. It requires Govt to cut back everything else to take on more debt from companies.

Thus with no solution since taxing the wealthy and rentier incomes not wage earners would be as anathema as it would be good Capitalism we have to blame someone and subject them to below normal standards of humanity, as after all it is their fault. Hence the unemployed who receive £2.4 Bn in Job Seekers Allowance are targeted when RBS gets that every year just in direct subsidy. There is talk of the health service not treating people who [over] consume legal products like cigarettes and foods designed to make you over eat.

In Europe the Greeks are targeted because after being imposed an unworkable deal, as the sane members of the IMF accept and the insane Lagarde does not, their economy is tanking. Europe seems to want them on a drip feed so they can never grow. This will of course involve selling off their assets cheap to the Wealthy and turning public services into a stream of income for German pension funds. Now because their debt has been nationalised by ECB and EU Govts they are subject to the political whims of economic illiterates who get elected pimping people to blame! For all the talk of Game Theory by Greece the only people using Game Theory here are the neo Liberals.

After the Greeks it will be Italy and Spain. Maybe the worry is if Greece gets a sustainable path they will want one too not one that ultimately leads to subjugation. Equally it could be any perceived positive for Greece will lead to the election of Govt’s less committed to blaming their own people and delivering the anodyne world for the majority that Christine Lagarde, Bill Clinton, Barack Obama, Gordon Brown and Tony Blair see as so desirable. The end result will be poverty the norm but if you join voluntary work camps you’ll get a bowl of rice after all your poverty is your fault. Conservatives go along with this nonsense too I think partly because it is veiled in the language of The Market and involves hating on the poor but also because for all the bluster and fibs they love to run all powerful States too.

Of course as said the neo Liberal world will be all about equality and as long as you’re not poor or a woman you’ll be OK or enough of you to vote correctly any rates.

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Jun 06

The Greek crisis is becoming a shining example of the modern ideology of almost all ruling Western Powers – neo Liberalism. I’ve commented before on the sheer inanity of screaming legal and illegal – indeed the left neo Libs are the worst at this hoping courts, yes courts, will overturn the logical consequences of their beliefs they refuse to recognise.

Peter Kažimír @KazimirPeter Slovakia’s Finance Minister
#Greece has to focus on completion of programme – that’s mutual priority, debt restructuring is not on the table #eurozone #IMF

Completion of a programme that has shrunk the economy by a quarter. What not enough for you? A programme IMF economists admit was a mistake foisted by the rapist Strauss Kahn to save German and French banks.

Debt restructuring not on the table when they have debts they can never pay back what kind of moronic toss is that? It makes absolutely no sense.

These psychopaths or incompetents believe what they are doing seemingly. There is no evidence what they are doing works and plenty that says it does not.

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May 30

Economics whether practised by what can be called left or right/neo Classical/neo Liberals can come across as an esoteric practice. It allows enough phonies to practice it that politicians can always find solace in some nutter – our own George Osborne uses a crack smoking woman beater for instance.

The myth spreading was particularly apparent in the Election. Labour was accused of profligacy and numbers produced to show the debt was not that high historically. I made the point Labour were profligate and spent badly and as incompetence of graft via war, PFI and the massive subsidies to Finance and other industries – whether this was historically significant incompetence is moot. The Conservatives were accused of halting austerity but again mathematically the deficit reduction slowed was not stopped and hence you can claim it was still austerity. Yet Britain has not run a budget surplus even ignoring interest on prior debt. In the end one cannot crib the recovery in GDP save to say it’s still lower per capita than in 2007. One can also say it’s even less evenly divided – worse as of course more people now working. Better to argue that it’s a recovery in rents and asset prices is pointless and does not reward work or rebalance the economy. The glut of low wage jobs contradicts the Govt’s stated aims on Immigration and costs a fortune in subsidy. It has so far been austerity for the poorest and barely saved a brass razoo other than emasculating possibly essential investment.

The other well umm is this is the most anaemic recovery in 300 years and whilst the UK’s not on a cycle with other powers meaning we grow faster now whilst others slow it is clear to all bar Labour supporting cheerleaders that it’s not exactly been a gangbusters recovery anywhere. Again far better to point to the whole world’s neo Liberal nuttery as a cause of stagnation. You can draw lines on a graph and say growth should be 3% and inflation 2% but to me that is meaningless drawing lines between selected points on graphs and saying that used to be a path in a time period. Arbitrary End Point analysis.

The ultimate was of course Ed Balls double dip obsession. Seriously which is worse 0.1,0.1,0.1 0.1 0.1 quarterly growth rates or 1%, -0.1%, 1%, -0.1% 1%? Why not say weak growth not some contrived phrase?

The point is Economics needs to escape this world of silly rules and definitions and esoteric arguments. One of the central precepts of neo Liberalism is to make semantics and legality high priorities regardless of right or wrong or value of ideas and commentary. If I were an economist I would clearly aim to be Heterodox.

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May 17

I am under no illusion at my lack of reach in this world. Indeed this is arguably the chronicle of a mad man locked in a room with a type writer if Costa counts as a padded cell which it should. Nonetheless should this reach anyone I do have a message for those who want to change society. Sadly I am not among them possessing neither the care for my fellow man nor the driver of personal insecurity. Writing this blog has left me neither left nor right. Neither pro or anti Capitalism. Merely with a deep undimming hatred of the neo Liberal consensus but almost more on the grounds of its anti thought. A form of narcissism based on self gratification as well as the sheer idiocy of the World Economic Forum, IMF, ECB and Bilderberg view of the world.

If people wish to take back their lives and countries they should consider removing themselves from what Govt provides. Govt is a captured vessel of the Wealthy as even the so called Leftist manifesto of the Labour Party showed. Labour for their part represent no one. The problem is that as people we have become atomised. Indeed with the push to take people off 100% benefits into subsidised transfers of money to the wealthy via low paid jobs people’s time to organise is reduced.

Nonetheless there are answers from using cryptocurrencies and creating your own local economies businesses. These of course require people to get together as communities and rob their landlords and masters of economic power. Does this happen anymore? Or do the poor sit at home watching a constant diet of neo Liberal propaganda and insults like Masochists? I am skeptical.

Yes you can march in London and feel the warmth of masses only for the media to point to some trivial sacrilegious vandalism whilst Labour politicians who killed upto 1200 people in one health authority or backed murderous pointless wars that have killed 100s of troops and thousands of civilians, and let perverts at GCHQ spy on intimate webcams get tough questions about their poll rating. Or Tories who have not yet mastered wiping their own arses [Grayling] and killed many with a Health reorganisation that cost Bns and continue to pump subsidy to fossil fuels which is aimed at making Labour’s slaughter of the sick look like a chimp’s tea party.

Sure we can continue to wax about policies like Land Value Tax and Debt Jubilees and other eminently sensible stuff but it can hardly happen in the teeth of a febrile media controlled by the neo Feudal pigs at the trough. We can’t look to the next Labour Govt as any different to the current Conservative one in terms of anything but steepness of descent.

For me disengagement is the way. When the enemy is stronger withdraw as Charlie Sheen said in that movie.


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May 10

Are we seeing all that is there? I was touched by a German piece which helpfully in English pointed out the difference between outward rhetoric and the internal reality of German politicians. Thus the thing that really riles up politicians is optimism not hard questions. Indeed ask David Cameron if the average British family will be able to buy a home in 5 years time after another economic miracle. Bet that would have the tetchy creep being very tetchy. That’s not on offer.

The fears I would presume are that what is happening to western economies (slowing growth) and that this was an inevitable function of Globalisation. That low Western investment was a function of low labour costs in a global market. That this could turn around as China’s birth policies and usage filled up. Does this make more sense of the austerity meme whereby the west deflates and transfer payments need to reduce?

Personally I think this is a factor and certainly the unskilled racists who want to prevent immigration really really misunderstand that importing the skills here will have good side effects in such a world rather than leaving the skills abroad or even to be imported by other countries. Nonetheless it should not obscure the idiocy of handing trade disputes [TTIP] to a committee of lawyers to prevent countries changing Environmental/Banking/Pollution laws and the banks blowing debt bubbles. Sound economic management is still needed even if you can explain some factors by rising skill and access to the market in the rest of the world.

Indeed one outcome is surely to back infrastructure investment not just as graft as Tories and Labour do [HS2 Low Speed Old Tech Money to Friends]. How do you create a premium for doing work in the UK or any other country? You certainly won’t by privatising income streams and nationalising debt. Nor will you do it with subsidy paid out of the wages of workers in that market.

Maybe a proper response relies on Politicians being honest or even knowing why they do what they do. The fear I have in the UK is that apparent idiocy is not because they cannot explain it but because they believe it.

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May 08

Were it not for polls I think I would have assumed this was quite a hard election for the Conservatives to not win. The economic good news may not survive a decent economist’s gaze but since when did they have any say. Sure poorer workers actually trying to work hard and earn know it’s a load of bollocks. People like me know it’s an unsustainable subsidy bubble where debt subsidises shit companies like Tesco. However for many exposed only to national media and the BBC this narrative of growth is fixed.

Farmers, Bankers and City workers, Large Corporates, Tax avoiders, Oil companies, outbid bearded rail franchise holders, landlords, owners of valuable property, Housing Association tenants etc is surely a thick end of the 24% of the populace who voted Conservative – the rest just brainless tarts who think that they can be rich and all former groups earn their dosh. Just as until Brown lost them in an incompetence fest had public sector managers, well paid public sector workers, Scots, Tax Credit families etc.

As it is an illusory boom that is only fueled by immigrants (per capita it reeks), has a productivity no show and funded by large amounts of debt please do not expect me to respect this judgement by the populace albeit with little actual choice and a positive economic narrative 24% of the electorate may be seen as unconvincing..

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May 04

OK let’s ignore their policies about who will likely continue as junior coalition partners. The nub of the matter is could they have done more as partners? Now I can forgive some welfare reforms vile as they are it’s not like Labour complained until the focus groups said it was OK. I can forgive much of what they did but where they sold their soul was Surveillance and Feudalism.

How can a party who claims to be liberal support such arrant nonsense and ridiculous shit as DRIP? Tedious stupid so called anti terror legislation.

How can a party who is liberal sit in Govt and allow more and more gross subsidies to the housing sector and landowners? How can you square that circle? It’s impossible.

In short if the Liberals do not stand for Liberalism they are merely a 3rd neo Liberal party with no ethos (like multiculturalism means the opposite of what you might think neo Liberal = nut grinding Conservatism with authoritarian oppression) . Seriously why not vote Labour or Conservative if you want to reward Billionaires and live in an ordered society? Is there any reason to vote for a party which has no values and will not govern alone what’s the USP guys and gals? Bar being a break on the Conservatives and Labour they’re reduced by the well meaning twat Clegg to not being Labour in a Labour constituency and not being Conservative in a Conservative constituency.

As someone whose suggestions for Capitalism would be to embrace renewable energy and Land reform why would I support that? Or more simply how could I support that?

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