Making money out of the misery of the Syrians

We all know the amoral armaments industry will be cashing in when Obama shows the Syrian people how much he loves them. But I got some spam today, pretty meaningless but it does highlight how capitalism will be seeking it’s big bucks when the civilians start dying.

To: chrishall57@
Subject: This Company had a huge day today
How do you feel about enriching yourself by means of war? It`s
right time to do it!!! As soon as the military attack Syria, oil
prices will rise as well as MONARCHY RESOURCES, INC (M O N_K)
share price. Begin earning money on September 5th, grab M O N_K

One day we’ll have a society where people matter, not money. It can’t come soon enough.
Authored by Chris Hall


Bank cuts growth forecast to zero

Un gran tiburón surcando aguas oceánicas.
(Photo credit: Wikipedia)

Yup, that’s what the BBC News site says here

But Capitalism is a beast with a rapacious appetite. It has to be filled with profit or it becomes violent. Which means that once again the working class, the poor and the less able bodied will pay to feed the hunger of the wealthy.

(Apologies to the shark)

Nick Clegg and Distributism?

LONDON, ENGLAND - MAY 11:  Deputy Prime Minist...
Image by Getty Images via @daylife

So says the BBC. No, I don’t think he really is calling for a form of Distributism, merely offering up sound bites that seem to be rounding the edges from our current form of rampaging Capitalism. There’s lots of talk in political circles at the moment of a more ‘friendly capitalism’ and I think he sees this as an opportune moment to claim some media time.

Nick Clegg talks of cutting red tape and reforming the tax system, both of which may have merits but go no way to reigning in the current monster. He also seems to parallel a quote of GK Chesterton’s but misses the point entirely:

“We don’t believe our problem is too much capitalism – we think it’s that too few people have capital.

It’s worth quoting the great GK Chesterton here:

“Too much capitalism does not mean too many capitalists, but too few capitalists.”

Clegg’s call is not for a more responsible capitalism, or a kinder face of capitalism but the continued rampage of neo-liberal economic thinking with a nod to worker participation as a way of heading off the unions. After all, if you have shares in a company then the last thing you’ll be doing is calling for industrial action? This is worker participation, but just enough participation to nullify the unions but not enough to pass any power to the workers or to make any difference to current practices whatever.

True worker involvement would mean the reduction in the ratio of high and low earnings within a company, worker participation in strategy and planning together with workers sharing equitably in the success of the endeavour. I would also like to think that it would involve a healthy does of Catholic Social Teaching to give the whole system a moral basis by which everyone would be catered for and not be left behind.

Enhanced by Zemanta

Banks forced to write off £40m a day in family debt

More media misinformation from the Daily Mail about the poor old banks.

Apparently the banks are writing off debt from struggling families to the tune of £40M a day. The paper goes on:

Between April and June banks and building societies were forced to ‘write off ‘ £3.5billion, around £40million every day, the largest amount since records began…….

……..The largest chunk of write-offs – a record £2.1billion – was credit card debt, with many spending more on the High Street in a day than they earn in a month.

A further £1.2billion came from overdrafts, personal loans and hire purchase agreements. Just £184million was from ‘bad’ mortgages.

Before you reach for the hankies it might be a good idea to consider the Mail’s steaming pile of misinformation and downright lies a bit further.

Firstly, it’s only in the case of bankruptcies that debts get ‘written-off’. If it’s just that you can’t afford to pay then the debt will remain with you. The banks take a decision to maintain the debt or to sell it at for less than the value to a bottom-feeding debt collection company. There is no ‘writing-off’ in these cases. In fact if the bank values the debt at the price they’re willing to accept from the debt collection companies then why not just let the debtor pay that back?

Secondly the banks are complicit in the level of debt initially and are doubly complicit in the acceleration of debt that people suffer when they are in trouble. Take the case of credit cards, one of the major sources of debt. You may be on a ‘good’ (don’t laugh) interest rate of say 16%. At the first whiff of gunsmoke the banks will immediately hit you with a punitive interest rate of up to 30%. They say it’s to encourage you to change your spending habits but in reality they’re trying to increase the rate at which they claw back the debt before you go tits up. The fact that in doing so may be the difference between survival and pushing people over the edge is neither here nor there. When it comes to money the banks have no morals, no shame and no humanitarian spirit.

Thirdly, you’ll find that most of the debt is simply compounded interest. If you’ve ever found yourself in the position of not being able to pay off credit cards and making do with the minimum payment then you’ll know what I mean as you see the debt increase. Profit for the bank without it having to do a stroke of work. Genius! This is why the church is, and should be against usury. An activity that should be made criminal.

Fourthly, those parasites owe the masses big time. We’ve bailed them out by billions and watched them laugh in our faces, waving and taunting their bonuses at us like the Met at a miner’s picket line. There’s nothing I’d like to see more than the whole system come crashing down. Perhaps this is the way to do it!!

Banks forced to write off £40m a day in family debt | Mail Online

Britons to pay more for a loaf of bread as wheat prices jump

Image via Wikipedia

As the title says, from the BBC News website – ‘Britons to pay more for a loaf of bread as wheat prices jump’

So it seems that lucky old us will be paying more for our wheat, and hence our bread sometime soon. It’s all because of wildfires in Russia and flooding in Pakistan. In Russia a drought coupled with wildfires has destroyed 20% of the wheat harvest. In Pakistan heavy rains and flooding have destroyed 15% of the crop.

So because here in the UK we import all our wheat from Russia and Pakistan it’s going to be scarce. Actually that’s a lie. We don’t import any wheat from Russia or Pakistan. As part of the European Economic Community, we as the EU are competitors with Russia with regards to wheat production.

So there’s no shortage of wheat and I’m sure that the rest of the world could easily accommodate this shortfall from 2 countries. That means prices shouldn’t rise and this fluid ‘value’ of wheat should stay constant. After all, stability is something that should be sought after. But of course stability doesn’t create the opportunity to generate huge amounts of money from doing very little. Because if the price of wheat goes up then those who store and control the wheat, and to some extent those who produce will make a lot of money for very little work.

So remember that when you go to buy your next loaf and find that the price has gone up from the already high £1.35. Every penny counts, especially for those trousering a grand profit from doing very little. As my mum would have said, “Money comes to money.”

Britons to pay more for a loaf of bread as wheat prices jump – Telegraph