Does the economy need a plan B.

Does the economy need a plan B.

For anyone interested in the current economic crisis the Bloomberg app is a must have. 24 coverage of the massive swings in stock markets and bond yields.

It doesn’t matter where you are in the world everywhere you turn is the same.

Today stock markets around the world have risen, but it can only be temporary the crisis has not been resolved.

The unprecedented situation means we are moving at lightening speed from one boom to bust and from crisis to crisis.

The chart below show the falls in the US stock market between 1929 and 1930 as every recovery was cheered it was followed by a further fall.





Despite printing huge sums of money and pumping billions into the worlds financial markets the crisis has not been resolved. The strategists for capitalism are at their wits end in trying to resolve the problem as we head into a double dip recession.

Governments around the world are unable to alter the situation or the direction of travel.

The Greek debt problem will pass from country to country as first Portugal then Ireland and even Italy get dragged into the mess.

European intervention has only delayed the problem by kicking the ball a few months into the future.

The break up of the Euro is inevitable the only question is will it be planned by the leaders in France and Germany or a chaotic collapse brought about by the markets.

The break-up of the Euro will lead to further attempts by countries to protect their currencies. Switzerland recently promised “unlimited fund” to protect it’s manufacturing industry.

The effect of Euro break-up will be felt worldwide.

Recent globalisation has allowed trade to boom but it’s reached its limit.

Austerity measures in country after country will reduce demand and suppress trade making the situation worse.

Its not that people don’t want houses and cars and things the problem is they don’t have the money to pay for them.

Since the 1980’s credit has been used to overcome this problem. But it can’t go on. Debt has to be repaid. With interest. Greek 2yr bonds are trading at melt down levels of interest.

The Tories have hyped up their austerity plans but in reality public spending is actually increasing.

Borrowing more money will only push the crisis back and result in a deeper dip in the economy.

Its not a plan B we need it’s a plan C

WikiLeaks

The WikiLeaks revelations have shown the cynical nature of government diplomacy. American and western governments have more in common with gangsterism than reasoned argument.
The aim of the US is to impose its will, with the threat of violence, backed up with actual violence, blackmail, bribery and corruption.
This applies to both friends and enemies,
The exposure by WikiLeaks of the crimes of the western governments has performed a great service. It has removed the veil of respectability that conceals the criminal activities of the official diplomacy.
The wars waged by U.S are terrible for millions of poor people, but terribly profitable for the big arms manufacturers.
Obama has not pulled U.S. forces out of Iraq.
One million people have been killed in Iraq since the invasion, and 90 percent of them were civilians.
These monstrous facts have been carefully hidden from the public in Britain and the United States. The same public was informed that the purpose of the Iraq war was to destroy non-existent weapons of mass destruction. When these did not appear it became transformed into a “war for Democracy”. The only crime of WikiLeaks is to lift the thick curtain of lies and deceit that conceals the truth. It is for this that they are hounded, slandered, persecuted, have their funds cut off and their leading figure arrested.
This kind of thing must be made public. The people whose taxes go to pay the arms billionaires must know the true purpose of the wars fought in their name.
A growing number of officials and military personnel are disgusted with what they see and hear and are inclined to leak it.
Bradley E Manning, the young soldier who leaked the most recent information, can expect no mercy in America. Julian Assange is not a U.S. citizen, and is not bound by U.S. laws.
Today, Bush and Blair are enjoying comfortable retirement. Yet the courageous individuals who have dared to expose the ugly reality of power politics are persecuted, hounded, arrested and even denied the elementary rights that are routinely granted to criminals.
In the USA politicians are calling for Julian Assange to be “taken out”– a feat which the CIA is quite capable of arranging.
The American government will stop at nothing to silence WikiLeaks. The CIA and its collaborators have orchestrated a noisy campaign of smears and baseless accusations concerning the personal life of their enemy.
Every person who loves democracy should be concerned about this case –
Assange was originally accused of four offences including of rape. The accusation of rape, splashed all over the front pages of the tabloid press, was suddenly dropped. It had served its purpose, which was to blacken his name. Now the Swedes argued that he was guilty of “unlawful coercion” and acting “in a way designed to violate sexual integrity”.
The charges are not new. They go back to August when Assange was charged with sexual assault. He responded by claiming he was being smeared: “the charges are without basis and their issue at this moment is deeply disturbing”.
I am in no position to judge the truth of these allegations, but what is abundantly clear is that they are being used politically, and a fair trial is impossible under these circumstances.
That is the whole point. Washington is not interested in Mr. Assange’s sex life. They are interested in revenge. In preparation for the trial and imprisonment of the man they see as public enemy number one, they first soften up public opinion by destroying his moral reputation.
Of course, all this was just a pretext to prepare for the real business in hand: diplomatic sources have leaked that discussions have begun to extradite him to the USA from Sweden.
The Assenge case is about the defence of democratic rights.
In “democratic” Britain, the right to strike has been so restricted by anti-trade union laws that in many cases it has virtually been cancelled out. The legal rights of British citizens have been seriously eroded by the so-called “anti-terror” laws, which give the police wide powers to stop and search people, and to arrest and hold them for 28 days without their having been convicted by a court of law.
More recently, there has been an attempt to curtail the right to protest on the streets. In the recent student demonstrations, the police made use of the tactic of so-called “kettling”, whereby demonstrators are trapped by a police cordon for hours on end in freezing conditions, and denied access to food, water or toilet facilities.
People deserve to know what governments do in their name.
Documents that reveal the criminal activities carried out by governments and their secret services should be published

Every Cloud!

Lib Dems plan "Drivers Tax"

This article caught my eye outlining Lib Dem plans for a "Drivers Tax " of 8p per Kilometre.

The plans would charge car drivers and extra £3 per trip to Beverley or Brough and an extra £15 for every typical trip to Leeds. Bet we dont see this on any fib dem focus leaflet.

E-I-E-I-E-I-O

Well done tigers.

Fantastic result at Wembley and a great day out.

Three and Out

As a train driver you’ll have to excuse me for not seeing the funny side of people being killed on the railway.

So as you’re munching your popcorn, please take a moment to think about those people for whom railways deaths are a tragedy, not a comedy.

Lib Dems hit most vulnerable.

Lib Dems hit most vulnerable.

Lib Dem councillors have decided to hit the most vulnerable in society with the decision to end funding to the local CAB.

The decision is a kick in the teeth not only to the customers of the service but to the dozens of volunteers who provide much of the assistance.

At least some of the Lib Dem group are expressing concern at the decision

Time to go Robert

Time to go Robert


When Robert Mugabe came to power in Zimbabwe nearly thirty years ago it was on a wave of optimism for a better fairer society.

Brutal land grabs and hyper-inflation caused by simply printing money have left the whole county unable to feed itself and on the brink of bankruptcy.

It really is time for Mugabe to go. I hope the police and army refuse to support a continued grab for power by Mugabwe and the results of the elections are implemented.

East Hull Short List

Check your bank account

Check you bank account.

Residents in Hull are being urged to check their bank accounts today as thousands of council taxpayers have been overcharged by the cities Lib Dem bosses. Red faced officials have had to apologies to customers following the blunder which saw the council tax system disabled to stop further accounts being plundered

Happy New Year

Leisure Centre remains closed.

Liberal Democrats councillors are adamant that the Woodford Leisure centre in the East of the city will remain closed. Despite advice from council officers that the facility could be reopened. I understand from talking to officers this week in the Guildhall that the Liberal Democrats want to demolish the building.

“I’ll use floods to cover up closures” says Minns

Hull City Councils Liberal Democrat Leader Carl Minns has admitted that his administration is using the summer floods in the city as a cover to close council facilities. The admission comes as no surprise to many of us in the city as the Liberal Democrats are keen to hive off or close as many council services as possible.

Charles Kennedy Syndrome.

Officers at the Guildhall are said to becoming increasingly worried about the Liberal Democrat leader. As the officer said to me “he recently took time off sick suffering from stress”. I thinks its much more likely to be linked to the frequent liquid lunches.

Hull Lib Dems councils massive increase in consultants

Hull Lib Dems plan to spend thousands of pounds on additional consultants whilst at the same time makings 200 staff redundant. Lib Dem boss Andrew Sloan confirmed plans to take on additional consultants in the Highways Department at the councils scrutiny committee.

Liberal Democrat Chris Huhne article on drugs

Lib Dem Leadership Race

Hughes: "If you were two-faced like the rest of us, you'd see that dagger before you."

Photo and caption taken from Guy Fawkes.

So no general election this year.

So no General Election this year. I must say I am a little disappointed that Gordon Brown decided not to call an election for November. As a political activist elections are the most exciting times. Despite recent opinion pools I still believe Labour will win a majority whenever the election is held. With the most likely date now well into 2009.

Stephen Twigg wins West Derby nomination.

Stephen Twigg has this weekend won the Labour nomination for the Liverpool seat of West Derby. Twigg famously beat Tory Michael Portillo in the 1997 general election.