Wednesday, June 3, 2009

TwilightoftheGods

You know how it is. You realize that the drug is no good for you, that it can damage your health and well being, but you can’t resist it. That’s me and writing blogs and articles. I tried to stay away, to go cold turkey but I could no longer resist.

I stopped writing my commentary on the world at the end of April and here we are, about a month later and the world has got in an even bigger mess. They needed me.

The real reason for my absence, which you shall hear me mention many times in the near
future, was my readying my book, Twilight of the Gods, for publication on John Blake Publishing this week. Available to order now on Amazon.co.uk, it is, I hope a fun book that you will enjoy greatly!

But I digress. I was talking about how the world has gone even crazier during my absence. I figure there are three really important places on the planet, the UK, USA and Israel.

Everywhere else, all those other places might be fun, even interesting occasionally, but for things that hinge on the fulcrum, you have to look to these three countries. I could write a book just on the subject of why this is so, but its true that these are the three places that grab the worlds attention and never ending fascination. Today I shall keep our attention on the UK, and over the coming days it will be the other two legs of this strangely configured tripod we shall examine.

I, like many of my readers, have good reason to be particularly intrigued by these places because I was born in the UK, my ancestral roots are in Israel and one of my daughters and her two wonderful kids live permanently in the USA.

I am not saying that these countries are the centers of the universe or anything stupid like that, but I do contend that what happens to them, through them or because of them is of hugely disproportionate impact on the world at large. That is why what’s happening now is so crucial as I truly believe we might well be at a fateful crossroads in the fate of mankind.

The story of the seemingly endemic corruption amongst the elected Members of the British Parliament has been growing for the last several weeks. It is shameful and disappointing to see this degree of venality and ineptitude from both our elected representatives and the bureaucrats paid to provide checks and balances. It makes us angry and diminishes us all. Above all it robs us of the vestiges of faith we had in the probity and once proud tradition of our “clean” parliament. Of course the right thing to do would be for the tainted Prime Minister to call an immediate election allowing us the opportunity to clean house. That won’t happen unless it’s forced because our incumbent leader knows that the result will be his losing. The man is clinging on to power by his fingernails despite having no mandate to do so.

The history of the UK is littered with wars, collapses and civil strife as a result of disasters such as the long-term conflicts and insufferable economic problems we are currently suffering. There is a simmering and growing anger boiling just under the surface of this great country that is truly dangerous.
A survey released this week stated that 85% of the population wants a judicial review and oversight group to oversee the future control of the elected House of Commons. This must not be allowed to happen. If it was put in place we will have moved one step closer to a totalitarian regime that we must avoid at all costs. No one in this country can be allowed to have power over our elected representatives. They must be the paramount level of our government. It really isn’t difficult to put in place sensible and simple rules and regulations to govern expenses and allowances. We must not throw away the concepts and centuries of traditional democratic evolution because of the petty misdemeanors and crimes of a few corrupt and contemptible thieves posing as politicians.

However there should be a transparent and speedy examination, and where necessary, after due process, prosecution and trial of all the miscreants. The punishment for those found guilty should be precisely the same as that given to any other criminal guilty of stealing from the public purse. Certainly no less or more just because of who they are.

I remember, not too many years back when the MP’s in the UK were either rich white men who were Conservatives or working class white men who were sponsored by the Trades Unions who were Labour. Because the wages became a little higher and the allowances were (too) loosely administered we found ourselves with a new and different political elite who actually was much closer in identity to the people they were representing. We must not lose sight of the advantages this break from the past of privilege and class warfare gave the UK. We mustn’t return to that inglorious and unworthy past.
It’s good to be back!

Sunday, April 26, 2009

Obama100Days

I want to be amongst the first to write briefly about the first 100 days of President Obama. To achieve this I shall cunningly write this article before he hits the magic number on April 29 in the meantime I have to travel the north of the UK on academic business.

During the Democrat primaries it became obvious that candidate Obama was a great orator, an excellent communicator and a leader who can and does inspire. Furthermore, and a little less evident was the fact that he is a terrific political strategist, but not so wonderful as a tactician.

We then saw these attributes become clearer in the race for the White House. Obama would wait while others raced to take a political position and Obama would assume the Noel Coward stance of masterly inactivity. Then Barak claimed the middle ground making everyone else look hasty and far out on the loony edges of political suicide.

Now we are just a few days from the American government declaring its findings on the financial robustness of the country’s banks. This is going to show progress but not totally assured solvency for all these former colossal and sound institutions.

The President now needs to act with his economic team to clear up the toxic debts. He is still to do so, and he has been slow, some say too slow, but now he must sort this out. Until he does so there can be no lasting solutions to the American and world economic crisis. This is perhaps the biggest test facing the President.

President Obama ritual grade for his first 100 days in office will be compared to FDR and his first 100 days, perhaps to a lesser extent JFK's. But it is not a fair comparison. FDR faced the worst economic crisis in American history. JFK faced the Russians over Cuba but relatively few domestic problems. President Obama falls between the two.

Perversely Obama is looking much more like President George W Bush, his immediate predecessor. There are strange but clear similarities in the way both men handled their first 100 days.

The Bush legacy is considered truly dreadful, but it didn’t look that way when he began his tenure. Like all recent American Presidents he got the same first 100 days pass from voters that Obama received. In April 2001 Bush’s popularity poll numbers topped sixty percent, which matches those for Obama in April. A Washington Post/ABC Poll of the time even gave Bush high marks on his handling of the economy.

Bush, like most new presidents during the first heady hundred days used the customary early public goodwill to make politically favorable appointments, sign executive orders and shove through Congress programs that later would never get through, whilst making certain he had almost total executive power. Even at the start he was concerned to cement his historic legacy. Obama has followed more or less an identical approach.

Bush introduced his $1.6 trillion tax-cutting program to Congress, whist launching the "Faith-Based" Initiative to help local charitable groups, and his "New Freedom" Initiative to help disabled Americans. In his first address to Congress, he, copying Prime Minister Tony Blair in the UK, cast himself as the education president, talked about health care reform. He even made vague promises to tackle paying off the national debt. Obama has followed pretty much the same script.

Bush and Obama worked hard in their first 100 days to look good overseas and this usually becomes the refuge of the Presidential last 100 days.

Bush took stabs at bipartisanship but later reneged on all of them. But that hasn’t stopped Obama make these same type of initiatives his priorities also.

Bush's most controversial early cabinet appointment was the Bible quoting, fundamentalist John Ashcroft as Attorney General. Obama picked Eric Holder as Attorney General, which stirred similar controversy over his partisanship and ideology.

Bush totally supported the construction of a national missile defense system in Europe. So to has Obama, albeit to a lesser extent. He called a missile defense system in the Czech Republic and Poland the most cost-effective and proven defense system. He tied his decision to go ahead with it directly to Iran's nuclear threat and international security concerns. Critics hotly disputed the need for the system when Bush backed it. They will continue to dispute its need.

America and Bush had a love affair that didn’t last very long. The same was true for FDR, JFK and every other president. But I think President Obama will do better after his first 100 days than many predecessors because he has been faced with such a terrible starting point for America that anything he does will feel good compared to Bush.

Wednesday, April 22, 2009

BritishBudgetBlues

British Chancellor of the Exchequer, Alistair Darling, the highest financial minister in the UK, today delivered his second Budget report to Parliament amid a dismal economic outlook, fast increasing unemployment and a deflated housing market. Public sector net borrowing is set at 175 billion pounds, 12% of Gross Domestic Product, the highest figure and percentage of this country’s wealth ever. These are truly shocking figures.

The Government borrowing levels are the highest since the Second World War, this at the same time as the economy shrinks, which means that the books will not balance for another decade!

Addressing the Parliament’s packed and rowdy House of Commons, the Chancellor started his report with a prediction that the economy will start growing again before the end of 2009. He claimed the Budget would help get people back into work and support business and homeowners amid the most serious turmoil for over 60 years.

The measures the Labour Government are going to take rekindle memories of old style left wing socialism, red in tooth and claw. They are heavy in yet more borrowing, now at stratospheric levels; approaching three quarters of a trillion pounds, or more than one trillion dollars.

Most depressing in the announced measures was the second major increase of tax to 50% on the highest 1% of earners. This doesn’t actually achieve much additional revenue since these people have good accountants and the ability to vote with their feet. What such petty and ill-considered moves will achieve is the very opposite of their aim. Such high earners are the rainmakers of any economy, people that create jobs and opportunities for everyone by their endeavor. Make UK Limited an unattractive and expensive place to live and they will re-locate.

Before the world woke up to the major failings of laissez faire capitalism it already knew that old style central command style socialism was a busted flush. It now appears as if we might be moving to a new system that encompasses many of the worst elements of both those systems and virtually none of the good bits.

The enormous amount of British debt underpins this governments attempt to spend its way out of the current economic disaster. It is continuing to ramp up public expenditure until it is beginning to become obvious that it is an insupportably large percentage of Britain’s Gross Domestic Product.

The reason that the immediate and necessary tax increases and general move toward a reduction in debt levels is not taking place in the UK is almost totally political. The government has to call an election within the next 14 months and is aware that their popularity is at an all time low. Of course there is the possibility that the all time stupidity of these buffoons is such that they don’t understand this. Put another way, they were almost certain to lose the next election before this budget, now they are totally certain to lose the next general election by a landslide.

"This Budget will speed the recovery," he said. "We have good grounds for confidence."

MAIN PERSONAL FINANCE HIGHLIGHTS
* New £2,000 car scrappage scheme
* Stamp Duty holiday extended by three months
* Statutory redundancy pay will increase from £350 to £380
* Fuel duty to increase by 2p
* New 50% rate of tax for people earning over £150,000.
* Personal allowances scrapped for people earning over £100,000
* Tax relief on pension contributions scrapped for people earning £150,000

OTHER HIGHLIGHTS
Economy:
* Expectation that the economy will start growing again before the end of 2009.
"There can be no quick fix or overnight solution," said Darling.

* Darling forecast that the economy would shrink by 3.5% during 2009 - in line with predictions. 2010 will see 1.25% growth, he added, with 3.5% growth from 2011. In the pre-Budget report, Darling forecast a 0.75% to 1.25% slowdown in economic growth in 2009, with 1% growth in 2010.

The cost of the measures being enacted will haunt our grand children. Remember this is the political party that promised it was never going to put up the top rate of tax and it was the government, which had promised an end to economic boom and bust. Just two more broken pledges from a broken government.

Tuesday, April 21, 2009

TheOldestLies

At yesterday’s UN racism conference IRANIAN president Mahmoud Ahmadinejad described the Holocaust as a "pretext" for aggression against Palestinians, prompting European diplomats to walk out of a speech disrupted by pro Israel protesters tossing red clown noses at the hard-line leader.

The myth being perpetrated by the Israel baiting Iranian is that Israel is a racist state partly because it has Judaism as its state religion and partly because it has a law of return that entitle Jews to become Israeli citizens.

The truth is that every other country in the area, including the Palestine Authority, has Islam as its state religion. Israel does not discriminate against the interests of any of its citizens, whatever they are. Contrast this with the country’s Muslim neighbours who routinely discriminate against all non-Muslims, particularly Jews. In addition to which several of these states have their own laws of return for their own people, and again this includes the Palestine Authority. Jordan goes so far to have a law, which explicitly prohibits Jews from citizenship, but only Israel is condemned for its law of return. Why?

Several hundred thousand Arabs either ran or were pushed from Israel when it was fighting the Arab armies seeking to destroy it on its UN sanctioned formation in 1948. There is compelling evidence that most Arab refugees left on their own accord.

What is less well known is that simultaneously three quarters of a million Jews were forced to leave the Arab countries they had inhabited for millennia and run to Israel in fear for their lives.

The difference between these two sagas is that Israel took in the Jewish refugees and made them into productive Israeli citizens whereas the rich Arab states kept their co-religionists in festering refugee camps for three stateless generations to make political capital from their awful plight.

It is no surprise to find the Iranian leader expressing such racist and revisionist views, after all he had previously denied the Holocaust and threatened to wipe Israel off the face of the world map. The man is so intensely anti Semitic he would have received honorary membership in Hitler’s Nazi Party, but for the fact that he is a bit too brown skinned to have passed for an Aryan super being.

Mr Ahmadinejad was the first government official to take the floor at the conference, opening on the eve of Israel's Holocaust Memorial Day. Two protesters in clown costumes tossed red noses at Mr Ahmadinejad as he recited Muslim prayer to begin his speech.

A Jewish student group from France later took credit for causing the disturbance, saying that members threw clown noses to "symbolise the masquerade that this conference represents".

Mr Ahmadinejad restarted his talk and delivered a speech that lasted more than half an hour, saying the United States and Europe had helped to establish Israel after the Second World War and victimise Palestinians "under the pretext of Jewish suffering".

That prompted a walkout by some 40 diplomats from Britain, France and other European countries that had threatened to leave the conference if it descended into anti-Semitism or other rhetoric harshly critical of Israel.

All the sneering Iranian leader needs to complete his visible hatred of all things Jewish, Israeli and Zionist is for him to hold aloft his copy of Hitler’s “Mien Kampf”.

The walkout was temporary, with most diplomats returning after Mr Ahmadinejad finished speaking, but the Czech delegation, which currently holds the European Union presidency, said it would not return to the conference.

The US was already boycotting the event, along with Australia, Canada, Germany, Israel, Italy, the Netherlands, New Zealand and Poland. This was due to the advance knowledge of all participants that like its predecessor conference at Durban 2, this conference was been built on a false pretext. Supposedly devised to combat racism it is, in reality, hijacked by those wishing to demonize and delegitmise Israel and anybody who dares support the Jewish state’s right to exist.

Mr Ahmadinejad went on to accuse Israel of being the "most cruel and racist regime".

Protesters against the Iranian leader held placards reading, "This is a circus. A racist cannot fight racism", and repeatedly interrupted the speech with shouts of "Shame! Shame!" and "Racist! Racist!"

UN secretary-general Ban Ki-moon met Mr Ahmadinejad prior to his speech to specifically advise the Iranian leader to avoid dividing the conference. Clearly this advice was ignored in much the same way as President Obama’s peace overtures have been.

Mr Ban, who was plainly both disgusted and angry, added that he was disappointed Mr Ahmadinejad had misused his speech "to accuse, divide and even incite", directly opposing the aim of the meeting.

Mr Ahmadinejad, as head of state, had the right to speak and did not need a UN invitation to the event, aimed at stamping out intolerance worldwide.

Speaking after Mr Ahmadinejad's speech, Norway's foreign minister said the comments "run counter to the very spirit of dignity of the conference".
Mr Ahmadinejad "has made Iran the odd man out", Jonas Gahr Store said.

Sadly Mr Ahmadinejad has been praised in the Muslim world for calling for Israel's destruction and making other anti-Israeli comments. What chance a peace deal in the Middle East with such myopic and evil lunatics in charge of important nation states?

We must remember our history, or we are doomed to repeat our mistakes. No other people but the Jews have endured such persecution, annihilation, pogroms, expulsions and destruction, yet survives and flourishes. No other nation has been hated for so long by so many, yet, is still here, while most of the nations who tried so hard to wipe the Jewish people from the face of the earth, have themselves been wiped off. Think hard about the lessons you might learn from that Mr Ahmadinejad before you cost your people dear.

Monday, April 20, 2009

BanksandSunnyDays

For those of you who follow my articles you are already aware that on Mondays in particular I can get angry about our governments and their stupidity or our suicidal economic leaders.

Particularly in the UK, one day before our major budget, when we are all aware that the news will not be good, the taxes will have to be higher, the costs and expenditure cut back and the public works put back.

This is all exacerbated when one’s own bank write an e-mail letter to state that yes, you’re meeting, in fact exceeding your agreement with us, which proves you could do even more, so let’s talk about increasing your payments!

Have these people no morality, no sense of fair play, or is it just these idiots that have to be bailed out?

Think about their lunacy when a bank attacks a customer who is exceeding his obligations. This is, by the way, the same bank that is now virtually nationalized since it was so much in debt that it was going under.

Step forward into the spotlight and take a bow NatWest Bank, a subsidiary of the Royal Bank of Scotland, which is now just a collection of low level bankers run by a bunch of incompetent twits from the Civil Service who are, in turn managed, by third rate, soon to be out of office politicians.

Thank the Lord I am not in the hands of these lunatics as I am not reliant on them, but many millions of others are, and the bankers plainly have no clue what to do.

My blood pressure was probably going up when I saw the offending e-mail this morning, but then I looked out of the window and saw the wonderful first signs of Spring, the sun shining, the grass with that special English green sheen, and the clouds skipping by in the clear blue sky and good sense returned to me. Soon it will be summer, and it won’t be long before there will be another turn in the affairs of man and no doubt things economic will turn, until the next time.

In the meantime I shall take a slow stroll in the soft spring air, and feel the embrace of balmier air as people’s faces relax with smiles of better times ahead.

And, as far as the bank’s communication is concerned; Where’s that shredder?

Thursday, April 16, 2009

GreedandSocialism

During these dark economic days following the almost total collapse of our financial system we all dared hope that there might be some chink of light, some moral compass injected by common sense and self preservation.

But the decision by the hierarchy of the greedy bastards, formerly known as Goldman Sachs, to pay huge bonuses at this precise moment proves these pigs at our common trough have learned precisely nothing.

Remember this bank was, like others, very recently bailed out by the public purse to the tune of about $10 billion.

What is wrong with these people, don’t they possess any sensitivity or decency?

This story prompted me to select two general responses on these themes from a bulging electronic postbag to share with you.

The first is about socialism and the second is about greed and the“lucky sperm club!"

Our first contributor is Steve.

“An economics professor at a well-known university said he had never failed a single student before but had, once, failed an entire class. That class had insisted that socialism worked and that no one would be poor and no one would be rich, a great equalizer. The professor then said ok,
We will have an experiment in this class on socialism.

All grades would be averaged and everyone would receive the same grade so no one would fail and no one would receive an A. After the first test the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. But, as the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too; so they studied little... The second test average was a D! No one was happy. When the 3rd test rolled around the average was an F.

The scores never increased as bickering, blame, name calling all resulted in hard feelings and no one would study for the benefit of anyone else. All failed, to there great surprise, and the professor told them that socialism
would also ultimately fail because when the reward is great, the effort to succeed is great; but when government takes all the reward away; no one will try or want to succeed.

Could not be any simpler than that…


“The problem with socialism is that you eventually run out of other people’s money.” – Margaret Thatcher

From Richard I received the following heartfelt “rant” which I have edited for space.





…”For those of us who have, by the grace of g-d, had the good fortune to have received a blessed life and all the trappings and trimmings; we are the envy of all mankind.

Yet we have been hoodwinked to accept the crime and corruption of a few well heeled elite to define the world in their terms: The lifestyles of the rich and famous visuals, the supreme materialism that throughout the decades that has been broadcast as the "DREAM" (here in the USA as the "American Dream”) to aspire to.... the challenge to throw all your chips into the cauldron and accept the pits and falls in hope that you land on your feet and later head to the bank with sacks of gold and silver. and Credit...yes let's not forget the credit.

So with all the rules intact which limited the rewards to what Donald Trump called the "lucky sperm club"!! The remainder of humanity was lead to believe that they, the unfortunate, must turn to their g-d and accept their plight and the kingdom they seek is in the hereafter.... In the past the various immigrant populations accepted their low wages and poor surroundings as long as the rewards might eventually be bestowed on their offspring through either educational advancement or other street smarts.... This was acceptable and will most likely prevail for a long time...student loans are still being offered for such advancement...So why do I write that something is amiss....

Well, we now have to come to the realization that the gulf between the super wealthy and the masses once thought to be surmountable has taken a turn where we must now agree that instead of an economy where the playing field is even or at least appears to be...it is now insurmountable...we now live in a Ponzi scheme! (And may have lived in one for a very long time). We have been hoodwinked that the brass ring, which in the past was always in reach, is now a bygone thought...

The select hedge fund financed dynasty has relegated our productive economy to a service economy where we merely serve them and continue to hold them in high regard, they have replaced the divine rule of monarchies and control every facit of our economic lives...the politicians are in their pockets and the rules are skewed to keep them in power.

After learning here that the recession has been in place since late 2007 and the situation has monstrously been getting worse in the months that have followed has not in the slightest been dealt with...Here a $300.00- $400.00 payroll reduction per worker prorated over the year has been put in place while the future tax debt indemnity to the government loans and bailouts has reached $130.000.000 per American man, woman, or child...The Financial Oligarchs along with the Media Oligarchs and the Governmental Oligarchs have control of all our methods of expression: through words ( verbal pleasure or displeasure ), through the use of our monetary power and through our right to vote...each method by which we express our support or opposition has been co-opted by the power elite....We have become an impotent democratic constitutional republic here and in Britain an impotent constitutional monarchy...and by whom? Well by the unregulated and untaxed offshore financial oligarchs.... who no longer need the permission of neither the voters nor the elected officials...a coup d'etat has truly taken place.

We might remain in the left / right paradigm...cast blame hither and yon...but we miss the mark...the financial problem causers have become the financial problem solvers.... they are circling the wagons and calling those of us who voice opposition as that hideous term "terrorist”,

We the unwashed masses are to be feared whether there is a reason or not the use of tasers--a substitute method of deadly force has become widely used here. Death and severe injury has been the result...Here the 1st Amendment right to free speech is the ideal held high by almost every other nation on earth as the epitome of the true meaning of what it means to be an American is under fire here. The alternative media is fighting the good fight. But we witness that the MSM has co-opted their message. This time coming out for the Tea Parties when in the recent past they opposed the leaders (i.e.: Congressman. Dr. Ron Paul, etc.) during the election campaign...

The call to end the Federal Reserve Bank is getting louder here while the call to end the Bank of England is mute. Both organizations have promoted the use of fractional reserve banking (taken to the extremes by the former investment banks @ 30:1 and the surviving hedge funds which occasionally reached 100:1). So why bring this up? Well none of the financial structure that is/was the underlying problem has in the slightest been replaced!!! And nor have most of the handlers and CEO's!!!! Transparency has not occurred!!! We now face further bailouts (here the GM and Chrysler funding enabled Cerberus to continue---the productive arm of GM and Chrysler may eventually go bankrupt...) The AIG insurance company is a shell for the arm that is a hedge fund and issued the trillions in CDS instruments now the recipient of billions later to be handed out to various international "counterparties" and Goldman Sachs as well....


We await the new Private Public Partnership to further de-leverage the massive derivative MBSs and CDOs that flood the books and off books of so many financial institutions and here the foreclosure numbers have once more advanced by 24% last month...clearly we are reaching a point of critical mass...with hyper/stagflation further down the road.... Max Keiser calls these folks Financial Terrorists (it reminds me when in days gone by we actually had a term State Terrorism) does that ring a bell?”

Thanks to both Richard and Steve and all the rest of you who have taken the trouble to write to me. I shall, in future, be including as many of these messages as possible and shall continue to respond to your terrific input.

Monday, April 13, 2009

Hooyah

Off the coast of Somalia during the last week pirates had taken hostage Captain Richard Phillips from his ship, the Maesrsk Alabama. He had tried to fight off the pirates but had, when the effort proved futile, given himself in exchange for his crew.

Since then Phillips had been in a small covered life raft with his four captors, as ransom demands were discussed between them and the negotiators from the FBI. The Americans stood firm in the face of these financial demands, refusing to pay any money.

There are times when the good guys win, and the bad boys get what they deserve. Over the Easter weekend there was such an outcome as U.S. Navy Seals aboard the warship Bainbridge shot dead three of the pirates and captured the fourth.

Previously there had been an agreement in place to swap the Captain with a pirate that his crew had captured during the initial battle, but they reneged on their promise as soon as their man was returned to them.

The shootings took place when the Navy Seals witnessed the pirates pointing their guns at Captain Phillips and considered his life to be in imminent danger. Their rules of engagement, specifically at the orders of President Obama, were that the US Navy Commander on site, Frank Castallano, had the right to issue the shoot to kill order in those circumstances, which he exercised.

The crew of the Maersk Alabama celebrated wildly at news of the successful release of their heroic Captain whose family was also overjoyed to hear of the happy outcome.

President Obama said, “I share the country’s admiration for the bravery of Captain Phillips and his selfless concern for his crew.

His courage is a model for all Americans. His safety has been our primary concern.” He went on to add that he was proud of the way the military had handled the crisis.

This must be the first step in a concerted, long term and coordinated international assault to achieve total elimination of the pirates, their bases and infrastructure.

In the words of the Navy Seals, “The only easy day was yesterday.”