Austerity and economic illiteracy Since the Tories were enabled into power by the Liberal Democrats in 2010, the national debt of the United Kingdom has soared enormously. Despite their campaign of "austerity", the debt grew more in the first three and a half years of this Tory led government than it did in the entire 13 years of New Labour rule (despite the fact that in 2007-08 New Labour had to deal with the largest global financial crisis in generations ). As regular readers know, I'm no fan of New Labour, however the economic evidence speaks for itself - this Tory government is far worse for borrowing money than the New Labour one that preceded it.
Brad Pitt PITT: Well, what Andrew wanted to do with this film was interesting: He wanted to talk about America—and America as a business—but he wanted to hide it within this low-end crime drama. We in America have some grand ideals—and some very strong ideals—but a lot of times, those ideals are used for marketing. RITCHIE: So does business trump humanity often? PITT: Yes—I think that's a nice way to put it. In a way, it's a call for responsible capitalism. But Andrew wanted to juxtapose that idea with the financial crisis and effects of that because there's an interesting psychology at play in terms of who we are and what we do when given too much room.
We need rent controls to solve London's housing crisis In an unusual break from the disagreement, dissent and bickering that pervades politics, consensus has broken out amongst policy makers in the capital: London is in the midst of a housing crisis. The facts are stark. Private rents in London have risen nine per cent since December 2011.
This is no recovery, this is a bubble – and it will burst According to the stock market, the UK economy is in a boom. Not just any old boom, but a historic one. On 28 October 2013, the FTSE 100 index hit 6,734, breaching the level achieved at the height of the economic boom before the 2008 global financial crisis (that was 6,730, recorded in October 2007). 'Losing' the world: American decline in perspective, part 1 Significant anniversaries are solemnly commemorated – Japan's attack on the US naval base at Pearl Harbor, for example. Others are ignored, and we can often learn valuable lessons from them about what is likely to lie ahead. Right now, in fact. Arundhati Roy: How Corporate Power Converted Wealth Into Philanthropy for Social Control August 27, 2014 | Like this article? Join our email list: Stay up to date with the latest headlines via email.
Manufacturing the Illusion of Democracy – Chris Hedges “We’ve bought into the idea that education is about training and “success,” defined monetarily, rather than learning to think critically and to challenge. We should not forget that the true purpose of education is to make minds, not careers. The words consent of the governed have become an empty phrase. Our textbooks on political science and economics are obsolete. Our nation has been hijacked by oligarchs, corporations, and a narrow, selfish, political, and economic elite, a small and privileged group that governs, and often steals, on behalf of moneyed interests. This elite, in the name of patriotism and democracy, in the name of all the values that were once part of the American system and defined the Protestant work ethic, has systematically destroyed our manufacturing sector, looted the treasury, corrupted our democracy, and trashed the financial system.
PFI contracts: the full list Aerial view of the Severn crossing. Photograph: David Goddard/Getty Images £301,343,154,097. That is the total that the UK's public sector will pay in existing Private Finance Initiative repayments. And PFI is in the news right now, following the collapse of an NHS Trust over its PFI contract. The figures come from data released by HM Treasury. My Reaction to Osama bin Laden’s Death by Noam Chomsky It’s increasingly clear that the operation was a planned assassination, multiply violating elementary norms of international law. There appears to have been no attempt to apprehend the unarmed victim, as presumably could have been done by 80 commandos facing virtually no opposition—except, they claim, from his wife, who lunged towards them. In societies that profess some respect for law, suspects are apprehended and brought to fair trial. I stress “suspects.” In April 2002, the head of the FBI, Robert Mueller, informed the press that after the most intensive investigation in history, the FBI could say no more than that it “believed” that the plot was hatched in Afghanistan, though implemented in the UAE and Germany. Nothing serious has been provided since.
Defense Contractors Are Making a Killing Stock prices for Lockheed Martin, General Dynamics, Raytheon and Northrop Grumman set all-time record highs last week as it became increasingly clear that President Obama was committed to a massive, sustained air war in Iraq and Syria. It’s nothing short of a windfall for these and other huge defense contractors, who’ve been getting itchy about federal budget pressures that threatened to slow the rate of increase in military spending. Now, with U.S. forces literally blowing through tens of millions of dollars of munitions a day, the industry is not just counting on vast spending to replenish inventory, but hoping for a new era of reliance on supremely expensive military hardware. “To the extent we can shift away from relying on troops and rely more heavily on equipment — that could present an opportunity,” Jack Ablin, chief investment officer at BMO Private Bank, whose $66 billion portfolio includes Northrop Grumman Corp. and Boeing Co. shares, told Bloomberg.
“Democracy Uprising” in the U.S.A.?: Noam Chomsky on Wisconsin’s Resistance to Assault on Public Sector, the Obama-Sanctioned Crackdown on Activists, and the Distorted Legacy of Ronald Reagan This is a rush transcript. Copy may not be in its final form. AMY GOODMAN: This month is the 15th anniversary of Democracy Now! on the air, and it’s a real privilege to have MIT professor, analyst, world-renowned political dissident, linguist, Noam Chomsky with us. I’m Amy Goodman, with Juan Gonzalez, and we’ve been together for this whole 15 years, Juan.
Finally! Exposed! The Deficit Myth! So, David Cameron When Are You Going to Apologise? "A lie gets halfway around the world before the truth has a chance to get its pants on" - Winston Churchill As a Conservative I have no pleasure in exposing David Cameron's deficit claims. However, as long as the party continues to talk down the economy via the blame game, confidence will not be given an opportunity to return. For it is an undeniable and inescapable economic fact: without confidence and certainty there can be no real growth. Below are the three deficit claims - the mess. Labour not responsible for crash, says former Bank of England governor The former Bank of England governor Mervyn King has denied that the previous Labour government was responsible for the financial crash, saying there was a shared intellectual responsibility across the political parties and financial institutions for failing to foresee the problems. Saying his view on the cause of the crisis had evolved, he said he doubted any single one country could have found their way through the crisis. His remarks on BBC Radio 4’s Today programme, which he was guest-editing, will please the shadow chancellor, Ed Balls, as he prepares to battle a Conservative claim at the next election that Labour mismanagement of City regulation and excessive public spending were jointly responsible for the crash from which the UK economy is still recovering. In the past King has hinted at select committee sessions that Labour allowed public spending to rise too fast but his latest remarks are one of his clearest exonerations of Labour for the financial crash.