UK Uncut: the cuts are necessary? The cuts are fair? We are all in this together???

The UK Uncut initiative is a wonderful expression of the Signs of Our Times: it began with a Twitter hashtag #ukuncut what manifested as a sit-in of 70 people in a Vodafone store in London and spread across the country in no uncertain way. Spread the word, join in actions, or at least smile! One [...]

Why Spending Cuts are another variation of “institutionalised white collar crime”

Economist James K Galbraith gave a presentation to the Senate Judiciary Committee in which he speaks of “financial fraud” as the cause for the “crisis”. But that’s not enough: Central Bankers create “currency” as “public debt” from thin air, charge interest to the Government (in the UK as much as the military budget) and call [...]

The Chancellor’s speech at the Lord Mayor’s Dinner

This press release from HM Treasury gives you the whole speeach verbatim. A speech that does mention what used to be unfamiliar: the sovereign debt its interest payment the budget deficit. But it glorifies the “independence” of the Office for Budget Responsibility whereas it means control of Downing Street by the City. The tripartite system [...]

Enforcement of Bank of England Act 1694

This Early Day Motion was tabled by our Chairman Austin Mitchell MP on April 20, 2009: That this House, observing that the intention of the founding Act of the Bank of England in 1694 was `that their Majesties’ subjects may not be oppressed by the said corporation’, notes that those subjects have been seriously oppressed [...]

Davos in 4 points

Arianna Huffington sums up the answers to the Davos questions “What went wrong?” and “how did we miss the signals?”  as follows: 1) Too much faith in the free market. 2) Too much faith in economic models. 3) Too little transparency. 4) No moral compass.

Our Response to the Inquiry into the Banking Crisis

The Treasury Select Committee has invited us the taxpayers to submit our views on the ‘banking crisis’. See its press notice. The automated response to our submission said: “Once submitted and accepted as evidence, written evidence becomes the property of the Committee, and it is up to the Committee to decide the manner and timing [...]

Credit Crisis? Cash Crumble is the Reality!

Slideshare is the place for publishing your PowerPoint slides, if you feel like it. They staged a competition into explaining the credit crunch in 30 slides which I discovered only after the deadline. However, I tried to say it in these twelve slides.