Wednesday 16 March 2011

Nuclear Disaster

A UK nuclear industry spokesman said last Friday that the survival of the Fukushima Daiichi nuclear power station after the earthquake was testimony to the safety of nuclear power. He is now probably eating his words as the number of reactors heading towards meltdown increases. The level of radioactivity in Tokyo is now twenty times higher than normal and increasing. The US Army are being kept 50 miles away from the power station, unlike the civilian 12 mile limit. If it wasn't just so appalling, I would be tempted to say the Green Movement told you so.

A big feature of the reporting of this disaster has been the tendency of the BBC to down play the seriousness of the situation in their reporting, compared to other world news media. Sounds like their political masters are calling the shots as usual. We know that the ConDem Government will continue to back nuclear power, as the Tories see big profits for their friends and the Lib Dems seem determined to go back on all the principles they ever used to stand for. The irony is that with proper investment in home insulation and renewable energy as the Green Party suggested at the last election, nuclear power generation would be unnecessary.

Monday 17 January 2011

ConDems Privatise the NHS

The Prime Minister lied to us again today. After claiming during the general election that there would be no large re-organisation of the NHS, he announced one today. Claiming that this did not mean privatisation, he announced that the NHS will be run by GPs, who are, ofcourse, private enterprises.

Ofcourse, GPs have no experience of running billion pound enterprises, so inevitably they will hire medical management companies to run their businesses. I predict that within three years, the NHS will effectively be managed by a handful of foreign controlled "healthcare partners" and privatisation will be a "fait accompli".

Another example of the Conservatives and Liberal Democrats saying one thing to get elected and doing the exact opposite when in power.

Sunday 16 January 2011

The Banking Con

The bankers who are urging us to "move on" from the bankers' bonus issue are right. It is not the bonuses we should be focusing on, but the artificial profits these bonuses are based upon. We all know that the majority of financial transactions in the City have nothing to do with financing trades in goods and services, but are pure speculation, or gambling if you prefer.

But it is gambling with loaded dice. Through the use of interest rate swaps and other derivatives, massive bank to bank financial transactions can be manipulated by a small banking elite. Bank profits are boosted by massively increasing the cost of banking overall just by the sheer number of transactions and the shepherding of the resulting profit into the investment banking arms of these banks. The winners are the international banking elite who "justify" their bonuses on the back of these manufactured trades. The losers are the banks customers, including investors, who get higher costs and lower returns than they otherwise would. The fact that investors do not complain about these lower returns shows just how profitable banking can be. Eventually these manufactured trades get so complex and the artificial profits so high that the whole system collapses, but hey, by this time these banks are "too big to fail" and gullible governments step in to bail them out.

Having worked at a firm of money brokers, I have seen just how enormous this banking con has become. Governments need to work together to call the bankers bluff by introducing a punitive Tobin tax on speculative transactions, as well as outlawing artificially created trades which benefit no one except the bankers themselves.

Wednesday 8 December 2010

Lib Dem Choices

We recently heard that a Lib Dem MP was likely to choose to vote for the tripling of university tuition fees to "punish" students for daring to demonstrate at his office. Today (8/12/2010) we have Nick Clegg telling us it is all about choices. So let's see what he has chosen to do instead of honouring his pledge on tuition fees.
The Lib Dem choice is to spend billions of pounds on fighting a war in Afghanistan, rather than on educating our children. The Lib Dem choice is to invest billions in nuclear power stations, none of which will be operational before the shortfall in energy predicted by Ofgen in 2015 and which will leave our children with a legacy of nuclear waste as well as debts of £39,000 each. The Lib Dem choice is to spend billions on a replacement for the Trident nuclear missile system, to let the banks pay only a fraction of what their mistakes cost the UK taxpayer and let tax dodgers squirrel away untaxed billions in tax havens.
Most shamefully for me, a former Liberal Democrat candidate, is that all of those decisions represent promises made by Lib Dems at the general election, which have been broken within weeks of getting elected. Nick Clegg was lying then and is lying now. He said that no Westminster party was offering to abolish tuition fees. The Green Party and our leader, Caroline Lucas MP has long called for the abolition of tuition fees, paid for by not doing the things above that Lib Dems said they would not do. In addition millions would be saved just abandoning the bureaucracy of collecting tuition fees.
Sadly, we know that the Lib Dems (unlike Caroline Lucas) are now an irrelevance in Parliament. Whatever they decide to do on the Tuition Fees vote, they are too divided to make a difference to the outcome. However, if they all vote against a rise in tuition fees as they promised at the general election, they might just save what little credibility they have left.

Sunday 28 November 2010

Torture on British Streets

We saw torture on our streets last week. More shockingly, the torture of schoolchildren by British police officers, whose job is to protect and serve, not bully our children. A joyful protest by students last Wednesday was turned into a new attack on democracy in the UK by the police.
Let's be clear kettling is deliberate and unlawful torture. We all have the right to peacefully protest and the police have no right to unlawfully stop peaceful protesters from going home.
What is kettling? In the words of Laurie Penny of the New Statesman, who was caught up in the heat of the kettle, it is to trap people in the open with no water or toilets or space to sit down. “It takes a shockingly short time to reduce ordinary kids to a state of primitive physical need” she says. “Without blankets, food or first aid, it's unspeakably cruel when it's done for six hours on the coldest night of the year, in sub-zero temperatures, to minors, some of whom don't even have a jumper.”
“Children who have fainted, and need medical attention, or the loo are denied their basic rights. The Police decide when old people can get warm, when the diabetics can get their insulin, when the kid having a panic attack can go home to her mum. It's a way of making you feel small and scared and helpless, a way for the state's agents to make you feel that you are nothing without them, making you forget that a state is supposed to survive by mandate of the people, and not the other way around.”
This is torture and we need the legal eagles to take them to court. There will be further protests and next time we may not have brave school children stopping the agents provocateur from turning a peaceful protest into a riot. That, of course, is what the police want. They were hitting peaceful protesters with their batons last Wednesday, just imagine what they could do if they can cause a riot? In recent protests most students have said they did not know the minority who caused trouble. A combination of agents provocateur and police unlawful kettling is going to provide government with the excuse they need to further curtail our civil liberties. With a Government of liars who were elected on false promises, we are going to see big confrontations on our streets in the coming months. As a former Liberal, it is a source of great sadness for me to see the Liberal Democrats being part of removing Liberty from our society and causing children to be tortured on our streets.

Friday 29 October 2010

EU Budget Farce

Forgive me if I treat David Cameron's boast of saving money from the EU with some scepticism. When our local services are likely to be cut by 28% in line with the cut in Local Government grants, a 3% increase in the EU budget is hardly to be celebrated. When 600 jobs may be lost among Armed Forces support staff at Catterick, local people should rebel at such EU profligacy.

Thanks in part to Tony Blair's spiteful hand back of our EU rebate as he was hounded out of office in 2007, this country will still be forking out £6.5bn every year to pay for the EU. What does that pay for? Among other things an increase in EU bureaucrats' entertainment budget! And the extraordinary thing is that the EU budget has never been properly audited. Millions are lost every year and the EU budget office fail every single year to account for it, leaving the EU with qualified accounts (i.e. inaccurate).

The Tories and Liberal Democrats should honour their pre-election promises and have a referendum on our EU membership. As the Germans are insisting on an amendment to the Lisbon Treaty to facilitate the latest Euro-zone bail out of failing economies like Greece and Portugal, the coalition has the perfect opportunity. After all it was part of the Con Dem coalition agreement that there no further powers would be handed to Europe without a referendum.

Will we now see the will of the majority of the people prevail and Britain at last throw off the shackles of EU membership? Don't hold your breath. How many other promises have the Con Dem coalition kept?

Monday 25 October 2010

Coalition Cause New Recession

UK economic growth in the 3rd quarter has fallen to just 0.4% from the 1.2% in the previous quarter. A two-thirds reduction in growth is likely to bring about another lot of "quantitative easing" i.e. printing another £50bn of fake money by the Bank of England. As on previous occasions when the Government did this, it will undermine the pound, causing yet another fall in the value of sterling.

The cuts and one million job losses (estimate by accountancy firm PWC) that will be caused by the Con Dem coalition's £81bn annual reduction in public spending, is already "damaging household confidence, weakening investment intentions and depressing the economy" (Independent 25/10/10). Along with a devaluation of the currency, the coalition is well on its way to causing yet another recession.

We should be spending money saved from cancelling Trident and withdrawing from the Afghanistan on investing in Green Jobs making our homes, hospitals and public buildings more fuel efficient and saving much more money (and lives) in the long run. All things the Lib Dems promised, but reneged on once elected.