Posted by: Martin | April 24, 2010

UK Debt repayments

The UK government spends over £24 billion in a year just paying the interest on the public debt (it will be far more next year, obviously). Guess who gets the money?

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Posted by: Martin | April 15, 2010

Brilliant letter

In today’s Guardian letters page:

In their manifestos, Labour lump immigration in with “Crime”, the Tories have it under “Change the Economy”, and the Lib Dems have it under “Your Community”. Does this not tell you everything you need to know about how each of them value people?

Liz Williams

Posted by: Martin | April 12, 2010

David Caremon’s big idea

Wonderful – cap top pay at a multiple of 20 times the cheapest employee. I suggest one minor amendment – extend this idea to the whole economy.

We need to take the £85,000,000,000 back off the banks and hand it to John Lewis. I also suggest that we hive off the financial sector and ask the Co-operative to manage it on behalf of the people.

We may find that some CEOs choose to move abroad but I’m sure that these 2 vastly downsized industries will do fine without them.

Posted by: Martin | March 24, 2010

Vince Cable confuses himself

I know he’s a star, and one of the few politicians who has some grasp of current affairs, but it’s still fun to hear him being a bit incoherent. On Channel 4 news he just said “what we have to do is cut the deficit and increase bank lending”. I kid you not.

Posted by: Martin | February 23, 2010

Telegraph article

Here is an interesting article by an ex-con in the Telegraph…

http://www.telegraph.co.uk/comment/personal-view/7273332/Darius-Guppy-our-world-balances-on-a-sea-of-debt.html

Funny old world.

Posted by: Martin | February 20, 2010

welcome to the casino

$4,000,000,000,000 every day is traded on the financial exchange markets. 90% of it is speculation. If this was gambled on the horses, imagine the tax revenues.

“It costs about a pound a day to short £1 illion worth of currency. It’s very attractive to speculators” says David Jane,  head of M&G., quoted in today’s Guardian.

Posted by: Martin | February 6, 2010

Our £1.5 trillion debts

Looks like we’ve racked up £1.5 trillion debts. If we can pay back £1 a second, we’ll have cleared the debt in 50,000 years.  Could be worse of course.

Posted by: Martin | January 16, 2010

More cuts than a hairdressing salon

It’s “death by a thousand cuts” – the politicians are competing to make bigger and deeper cuts than each other…the banks aren’t investing nowadays, and now the government will join them…

But there are plenty of rational, democratic and equitable alternatives. Here are 4:

1. Green New Deal
2. Basic/citizen’s income – compared to allowing the banks to create money in parallel with debt (see 4. below) this would be positively utopian…and democratic!

3. Tax/land reform – returning to a more progressive tax system that is based – sorry to sound so radical – on the ability to pay. The Report “In Place of Cuts” by Compass is a good introduction, but there are many inspiring ideas for tax reform

4. Monetary Reform Campaign(s) – e.g. see Ben Dyson’s work

Meanwhile, New labour are competing to cut Higher Education funding by some 20% so there’s no let-up in this maverick and ghoulish contest as we career towards a proper depression and misery for those already marginalised in our society.

Posted by: Martin | January 2, 2010

2010 – a new campaign for the new year

Ben Dyson is co-ordinating an exciting new campaign for monetary reform in 2010. WATCH (T)HIS SPACE!

Posted by: Martin | October 26, 2009

Cuts will create a depression within months

The tax or cuts debate is a distraction from the real issues  which are about debt and our dysfunctional credit-based money stystem. There’s a very good Report by Compass, In Place of Cuts, which does exactly what it says on the cover. It presents some very reasonable options for equitable tax reforms that we should all be debating.

2010 looks like a year of public sector cuts which will lead to another one or 3 million unemployed, which will increase the publc sector debt burden and – a prediction for 2010 – another financial crash, worse than the credit crunch…a debt debacle if you like.

Happy New Year!

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