BBC

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A money printer for us all!

Britain’s poorest people face a nightmare of increasing deprivation as coalition cuts bite even deeper this year. Trade Unions and Charities have recently reported their grave concerns. For our failed societal systems and for those in control, it seems they need to resort to quantitative easing, were money is printed to try to save their system and their wealth. For the remainder and the majority of our society, it leads to increased poverty.

Citizens Advice centres throughout the UK have reported that its bureaus are referring more very hungry families to food banks than ever before. And the charity warned numbers will rise further as welfare cuts take billions out of the economy next month.

In another report, Shelter the Housing Charity warned that more than five million families in England face the choice of putting food on the table or keeping a roof over their heads. Four in every 10 families have had to cut down on food spending, because they were struggling to pay their mortgage or rent, according to a YouGov poll of 4,000 families for the charity.

A Trade Union representative said: “The only growth sector is food banks and soup kitchens.” We have only had a 20 per cent so far of the cuts planned by the coalition government”. A point consistently argued at our Birmingham and area meetings.

“The cuts to welfare on April 6 2013 will make the poor pay for multi- national violations and a crisis created by the banks.

A TUC Regional Spokesperson also stated: “The impending cuts, on top of already severe reductions in welfare payments, will drive the most vulnerable people into even deeper poverty. Trade Unions, Pensioner groups and Charities throughout the UK are calling for a change of direction.

In Birmingham, whole communities face having to loose their NHS Walk in Centres. Yet another attack upon our precious NHS. The City also is facing unprecedented cuts. Many other areas face a future of even more reductions in services.

Lets dispose of this dismal future, because society can  be changed. We can achieve this , but we must be organised. We can achieve a peaceful world and forge a decent future for us all.

One reason, it is occurring today is down to the Government following an austerity policy, which is clearly not working; but suits those that have wealth and power, and not those that have worked there bones throughout their lives. In one form or another, we have all contributed. The vast majority of the country are not tax dodgers or scroungers. The real culprits are mainly the major worldwide companies, who are often literally bankrupt, and rely upon fictitious capital, but still exploit us all.

Perhaps, we could all be provided with a money printer!

The government is to axe an extra £2.5 billion from Britain’s overall welfare budget from April 6th 2013. We surely must resist.

For an alternative economic and political analysis and ways forward, please read my earlier posts. We need a more affective strategy and action to counteract all these cuts and the tissues of lies peddled out by the mainstream media and the Government. 

The poorest in our society should not pay for a economic slump; caused mainly by the Banks and a social system out of control. Surely a printer for all is in order! We can do much better and create a fair society!

Ivor Timson Msc(Econ)

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Two very diverse societies!

Banks became “detached from society” and still need to reconnect with their customers, the chief executive of Royal Bank of Scotland has admitted.

In an interview with the BBC’s Today programme, Stephen Hester said the industry was “coming down to earth with a bump” following recent scandals.

“The converging problems of climate change, growing population and limited resources, which are unevenly distributed, require a change of approach. Capitalism as currently practised exacerbates these problems.”

The corporate world needs to include social responsibility in its policies. Neo-Con capitalism favours consumption and competition, whilst denying and avoiding any responsibility for consequent hardships.
“Money as a token of exchange is fine, but when it functions as a lever of unregulated power it becomes corrupted. Other values that cannot be measured are dismissed – truth, fairness, empathy, aesthetics, ethics.
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The corruptions are subtle and pervasive; honesty, for instance, becomes that which is not illegal, and examples of this excuse for unfairness are legion (MPs expenses, tax avoidance, disproportionate remuneration).
“If we continue as we are the gap between rich and poor will eventually produce two very diverse societies. The potential exists in that situation for massive social disturbance. It is not often that I quote at this length, but all this seems so relevant to my blog.
The system is unable to contemplate the abyss and modify their political beliefs, before some bright spark found a convenient scapegoat that allowed them to hold onto their convictions and pursue their illusions. Economists, bankers, politicians and presenters are all in denial of the crisis facing us all.
And in the meantime and according to a recent report:  a global super-rich elite had at least $21 trillion (£13tn) hidden in secret tax havens by the end of 2010, according to a major study. Time for realists and progressive people to take control for all our sakes and for our future. And it is now half a decade since the crisis started, which some of us predicted.
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TUC Birmingham Pensions Justice Day 30 November 2011.

A wonderful display of solidarity ensued over the region and indeed the country. Tens of thousands took to the streets in Birmingham, as many also attended picket lines and the many local rallies. People of all ages joined this mass display of strength in support of pensions justice. Almost every public sector union took part in this co-ordinated action called by the TUC. Pickets were out in force at most larger council and civil service buildings, with earlier pickets at refuse collection depots and other locations.They enjoyed huge public support.

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A New Banking System? – time for real change!

At long last there now does seem to be some debate about our society and the need for change. There was recently even a mention and a debate about real societal change, and fundamental changes to the banking system on the Jeremy Vine radio show. And the ‘occupation movement’ does seem to be having a positive impact. We are also seeing widespread opposition to our bankrupt and failed system.

As Marx once explained, a developed credit system both gives greater elasticity to capitalist production and accentuates capital’s tendencies to overproduction and overspeculation.

The crash of 2008 was big enough that governments had to nationalise or bail out major banks, “socialism for the rich”, as it was termed and world trade shrank sharply in 2009.

A crisis, as Marx explained, brings “a tremendous rush for means of payment, when credit suddenly ceases and only cash payments have validity”. Except that in today’s capitalism there is no real “hard” cash. Every form of “cash”, US dollars, British pounds, euros ,  are only IOU’s issued by one government or another.

The lurch of capitalist policy away from neo-liberalism which many predicted in 2008, has not happened and now surely will not happen.
Capital is still sunken on credit. The global amount outstanding on foreign exchange derivatives rose from $14 trillion in 1999 to $63 trillion in mid-2008, then fell back somewhat, but has risen again to $69 trillion plus in mid-2010.

Governments have more extensive credit than banks. They were able to intervene to save the banks in 2008. But that intervention strained their credit, and in a time when global credit markets were becoming tighter. At the same time governments’ incomes shrank because of the downturn in trade and production following the financial crash and political blunders.

Most governments now depend on getting credit in global financial markets, not on siphoning savings from their own citizens as they used to. For eurozone governments the discipline is especially tight, since they cannot print their own money, and the European Central Bank was set up with rules that limit its assistance to governments. They are trying to change the rules as I type.

Some eurozone governments were bound to run into credit difficulties. The first were Greece, Ireland, and Portugal. And most countries have had bail outs and are in deep trouble or indeed bankrupt.

The present and ongoing crisis could well lead to the collapse of the eurozone, and a retreat by European governments back to national currencies. The impact of that on European capital, which depends day to day on the low costs of doing business across Europe, will be huge. They will find some way to patch things up for a while. As the previous so-called “bail-outs” patched things up for a while, only to make them worse in the long term. We need a long term plan, for the future of us all.

We should however, not underestimate the power and resourcefulness of a system based upon capital. The cuts programmes in Ireland and Spain are brutal, but they are having an effect, so far, in capitalist terms. Since the EU’s leaders know that the crisis is so dangerous, it is possible they will do something more radical than expected. But radical enough to restabilise government is debatable and they are running out of options and getting very desperate. Unfortunately, wars have historically been a ‘solution’ and a consequence. Real progressive changes are however now possible.

The project of the European single currency was botched from the outset, in 1999-2000, hurried through on the wave of capitalist triumphalism typical of the time, and with questions about how it would deal with tricky imbalances glossed over. Credit and fictitious capital became the norm, but we were all living on borrowed time. The Eurozone crisis is only one part of the world wide crisis.

So back to today, Greece’s debt should be cancelled, and a new beginning made. Banks should be nationalised under democratic control and a Social- Worldwide Bank should be created. Social equality and workers’ rights should be levelled up across the continent. And new plans should be formulated, which draw upon the lessons of these disasters and create a fair and less greedy society. Again, I call for a real debate about a real change of society.

And on a completely different note the Birmingham March and Rally went very well, despite the pouring rain. Thanks for the considerable support.


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New danger zone!

World markets have entered a “new danger zone”, according to the president of the World Bank. Robert Zoellick,  investors had lost confidence in the economic leadership of several key countries.

“What’s happened in the past weeks is there is a convergence of some events in Europe and the United States that has led many market participants to lose confidence in economic leadership of some of the key countries,” Mr Zoellick said.

“I think those events combined with some of the other fragilities in the nature of recovery have pushed us into a new danger zone. I don’t say those words lightly.”

The eurozone faced more serious problems, he said, with a lot of member states “moving from drama to trauma”.  There are other major signs of a mounting housing crisis.  Further words of gloom and despondency, which unfortunately have been the common thread throughout this blog.  I have offered both a prognosis and a diagnosis to the current economic crisis and have tried to evaluate the current state of economics.  Urgent action is clearly now required within this societal system; but leadership, the required knowledge, or indeed the desire to radically change is sadly lacking. We continue to worship a unfettered market even thought it has abysmally failed and can only continue to fail.

For these reasons, I am concluding this blog and it’s posts to commence a fresh one offering a new economic zone.  Hope you have enjoyed at least some of the posts.  Thanks for the e-mails.                      Ivor Timson  MSc (Econ)

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The real ‘yobs’!

The real ‘yobs’ are the speculators and the Bankers, aided and abetted by the Prime Minister and the Presidents of most countries. They destroyed so many small business’s,  jobs, homes and people living peacefully in their own communities, that it bears no comparison to the recent damage, which I do not condone. 

But with the Police, the Media and the Politicians now seemingly corrupt; what leadership skills do they display, or indeed can they display?

If anyone’s home should be taken away, it is the ones that most of us now subsidise via low interest rates- those that live in mortgaged properties. However, this action should be taken against no one, as it will create future problems, and no one should be homeless. But why only pick on Council homes? Lets stop picking on the very poor, our ‘leaders’ are fuelling huge discontent for the future.

We can solve this together without the assistance of the ‘hang and flog them’ brigade supported by the racist EDL, who support no one, but their own selfish and bigoted views.

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A little about the Author!

Some have asked so here is a little about myself.

QUOTATIONS! ‘ All progress is not progressive. ‘
‘ On thin ice ‘

About ivortimson

Like real ale- long walks into the oblivion, with a touch of blues and rock music; particularly at festivals. Many fun jobs- hobbies, including being a local DJ, Charity Worker, Potholing, Fairground Worker and Competitive Motocross Racing. I believe in peace, equality and a fair world.Been involved in many National and Local positions in the Trade Union Movement and other groups. I am against prejudice and believe in radical economics and politics.
Been elected as a Councillor, a School Governor, Branch Secretary seven years- Nalgo- Unison, Warwickshire, Chair of Joint Union Conveners Group-West Midlands- Warwickshire, Chair- Nuneaton District Trades Council, Secretary NW Mind, Secretary CPC, Coventry, West Midlands, Chair of Warwickshire Heads of Homes Group, Chair/ Secretary Nuneaton District Anti- Racism/ Anti War Group 1970- 1974 -1978- 1985- 1994-2008, West Midlands Provincial Council, lead negotiator with Ministers, including Kenneth Clarke MP, Minister for Transport at the time etc; plus many other positions both Locally and Nationally. Have a Masters Degree in Economics and professional qualifications. Been a Carer and Voluntary Worker.

Try to be caring, and a listener, and I believe that relationships are more important than material assets. My life experiences are considerable, but I still have lots to learn. Enjoy having a laugh with friends, often with a pint or two of real ale. Now also addicted to the internet.

Other jobs, hobbies and education over the years, include playing Local Football, Motocross / Racing, Practical Conservation and currently- WPC, West Midlands, UK and on the Regional Council- present. Went to Ratcliffe Culey Infant School, Queens Road – Nuneaton and Market Bosworth Schools. Then Ruskin College, Oxford and Cardiff University. Lucky to have enjoyed them all.

I promise to respond to everyone who e-mails. Take care out there. Ivor       08-2011

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Unity of purpose and having fun!

The Conservatives supported by the ‘Tea Party’ and the pretentious Liberal Democrats are of course going to attack us all -the young, single persons, the older person and the disabled to name just a few. Just listen to the ‘ideolical’ Gove  today, who was very prepared to let roofs drop on children and the always hopeless ‘Economist’ Vince Cable. They of course want to weaken the Trade Union Movement. Surely we need a new party offering people real choices. We should all surely support the strikes and demos on the 30th June 2011. The current system is completely bankrupt and one of the factors keeping it in slight control is the very- very low interest rates. But Labour under their new leadership are offering no solutions.

I attended the ‘Parliament’ at Blackpool and the most inspirational speech according to many delegates, came from John Lister and I personally told him so. Now is surely the time to drop the personalty battles and join together in genuine unity. The 30th is important to us all and we must plan for future and urgent campaigns. It is not too late! We can win if we are genuinely united. And the 30th should be the beginning of a prolonged campaign.

This Thursday was reserved for a huge rally at Birmingham on 30th June 2011. I had the privilege to second a motion at our Regional Council to adjourn our meeting at 11-30 am to join the strikers and protesters. Our entire meeting agreed to march to join the rally.

And to conclude, believe it or not most organisations can and do make time for fun, with trips, meals, socials and days out.

Ivor Timson MSc (Econ)

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Social responsibility and our bonkers system!

I recently came across the following advert on how to become a private financial adviser. In other words you can be part of the process that as been destroying our society and continues to do so. Have we not learnt that such traders, together with bankers and speculators are destroying our lifestyle and communities. And the Government still seems intent on privatising all our services, knowing full well that these companies are primarily only interested in profit. The recent issues around care homes surely illustrates this sheer madness. There is no logic to these proposals, apart from of course profit before people and social responsibility.

Hope no one applies, our friends from the other world again think we are bonkers and the TV presenters still indoctrinate us- that there has to be some cuts and some reforms. The market has completely failed!  The article is as follows:’Have you ever considered a career as a private financial trader?

Did you know many private financial traders take home £100k to £2m per annum, with some traders starting with less than £10k in their trading accounts?

Here are the 4 key reasons why you should do it too:

1. You only need a laptop, internet connection, some relatively inexpensive software and professional training to get started
2. You can trade from anywhere in the world at any time that suits you
3. You can limit the risk on any trade to less than 1% of your account balance and leverage the upside for fantastic profit potential
4. Under current tax laws in the UK, all profits are 100% exempt of tax, and there are no commissions or fees
Knowledge to Action are Europe’s largest trader coaching company (and Sunday Times FastTrack 100 Winner) and is running some completely free workshops to show you how you can get started, regardless as to whether you choose to trade full-time or part-time as a positive addition to your income.

These events are entirely free with no obligation and will show you how to ….

• Generate money in rising OR falling stock markets
• Identify exactly which high profit breakout stocks to trade now
• Master an easy way to manage your trades for maximum profit potential
• Understand the ‘Secret’ Risk Management Formula keeping risk to only 1%
• Automate powerful trading strategies which require only minutes per day
• Know precisely where, when and how to enter and also how to exit trades for maximum income.’

Initially I thought this advert was a joke, but I know no better. Feel free to draw your own conclusions. The continuing of these processes poses a serious threat to the very foundations of our society. There are alternatives and we must make our case for change. The worldwide system of capitalism is bankrupt and in disarray, just have a look at the trillions of USA debt and they still need more. Surely now is the time to have meaningful debate about real alternatives for our long term future.