Double Dip

A top read in the Daily Telegraph of 14th of September is a report about the M3 money supply in the United States. What? However, the M3 money supply is a significant indicator of future economic conditions. Apparently the news is that bank loans are falling at a 5% annual rate, and this is bad new as there are fears of a double dip recession. According to an academic "There has been nothing like this in the USA since the 1930s".

As always, the Labour Party says, nationalise the banks.

Banks are muderers, so says national paper, apparently

This was the revelation from the Daily Telegraph as the bonus culture returns. After the bailout banks are attempting to restore their own accounts by leeching customers and and offering poor rates of return on savings.

As one poster to the article puts it There will be more targets of our anger coming. This time, I expect the anger to result in action, rather than venting spleen in these blogs!

We say nationalise the banks.

Mandate for Change

So says Naomi Klein here. Refering to the US but applicable anywhere before the meltdown, do we want to save that pre-crisis system? Or do we want to use this crisis, and the electoral mandate for serious change delivered by the last election, to radically transform the system? Progressives need to get clear on our answer now because we haven't had the potent combination of a serious crisis and a clear progressive democratic mandate for change since the 1930s. We use this opportunity, or we lose it...Capitalism can survive this crisis. But the world can't survive another capitalist comeback.

Cameron is a Twat

David Reagan Cameron has no idea, or perhaps he should be applauded, anyway much like Ronald Reagan he misappropriates words and phrases with no idea of their real meaning.

Greedy bankers raked in £1.4 trillion

Nothing appears to change, banks taking advantage of the government's quantitative easing programme by hiking up their interest rates while the official interest rate is at 0.5%. Read on here and here.

Labour says nationalise the banks.

New Labour's green rhetoric is hollow

Good article in the Guardian today about Vestas. The government found the money to bail out the banks to the tune of billions – the few tens of millions that such a refurbishment would cost would be a miniscule sum in comparison, however New Labour's ideological commitment to the free market and the rule of profit prevents them from developing such a strategy.

Getting a grip

The one certainty in life is death. We come into this world with nothing and we leave with nothing. Our predecessors were aware of this only too well. War, famine, pestilence and death have stalked us since time began. No wonder the four horsemen are such powerful and terrifying icons.

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