1. According to the circus that opposes the Leader of the Opposition, it's all about power.

    Jeremy Corbyn, they say, would not be able to command a sufficient parliamentary majority to form a government, and so he should be replaced. The levels of personal ambition betrayed (betrayal is an unavoidable stain on the circus) by the current Wilson leadership campaign are impressive, but it appears to me that all we Labour Party members are offered is empty promises of an overnight change. Switch your bank account in a day, switch your party leader as though he were a football manager after an unsuccessful season. Welcome to the twenty-first century realpolitik.

    When a goal is difficult, people sometimes wryly observe that "you can't get there from here." I see no narrative in Owen Wilson's policies for how society will slowly be restructured to provide the fairer country that all Labour supporters aspire to. Rome wasn't built in a day, and the Labour Party must acknowledge that the journey back to government can only be gradual. The Conservatives successfully focused on people's “aspirations” in the last election but the aspirations to which they alluded were the venal desires of those who, when more becomes available, want it all for themselves. My kind of socialism wants to see the pot more equitably shared out, and is prepared to agree that those whose need is greater should get some priority.

    Even ignoring that to get there from here we must, in the real world, pass through all points between, it seems to me that an even worse betrayal by Corbyn's opponents than that of their party is the way they are betraying the parliamentary process itself. By focusing solely on electability they implicitly suggest that the Opposition has no power. This ignores Jeremy Corbyn's most significant parliamentary success to date, which is that he has shifted the “Overton Window,” the range of acceptable political ideological debate, far more than most have realised in the last year.

    Now we are finally governed by a Prime Minister whose personal integrity indicates (despite her draconian rule at the Home Office) that she might be amenable to moral argument, the value of Corbyn's achievement is of real potential to those whom the cruellest policies of the past six years have hit worst. Sadly, there is  much repressive legislation to be repealed or replaced but thanks to the Leader of Her Majesty's Opposition, the Rt. Hon. Jeremy Corbyn, it is something that can legitimately be discussed.

    Jeremy Corbyn has something that few other politicians do: the trust of a large number of people, many of them disadvantaged and formerly hopeless. For the Labour hierarchy to stab these new members in the back in the worst possible way, by denying their aspirations would be the kami kaze destruction of a disintegrating party. He may not yet be a fully effective leader of the Parliamentary Labour Party, but he carries hearts and minds with him in a way that hasn't been seen in a long time, and Labour will ignore that at their peril.

    His opponents would betray the people of this country by waiting until they achieve a distant goal before allowing the poor to once again enter the promised land of secure existence. Corbyn's way offers them some hope for the first time in a long time. The Opposition's duty is to oppose, and that should be the first responsibility of today's Labour Party, not the pie in the sky of an election victory in four years.



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  2. Usually I am pretty sickened by marketing campaigns, since it appears to my cynical eyes that marketing is a technique used to make people believe that their lives will be improved by spending money on things they don't really need. My life has taught me that there seems to be a lot of truth in the classical Buddhist assertion that suffering is caused by desire. Since marketing's purpose is to engender desire in people, I can't see it as a good thing. Marketing has an interesting history, and is effectively the extension of advertising into mind control (not in the David Icke sense, but in the “open your wallet and repeat after me: 'help yourself'” sense).

    Every now and then, however, I come across a marketing message I can get behind, and today is one of those days. I just received this email from my friend/guy/lady or other Louis C.K., and I'd love you to read it and act on it. Those who may be unfamiliar with Louis' work can get an idea by watching this video clip (he was younger then, as were we all) that points out that we are often unhappy for no real reason when we have real alternatives. But that's by the by. Here's what he wrote:
    Hello friend guy lady or other,
    Some of you are aware that, last Saturday, I launched a new series on my site louisck.netcalled “Horace and Pete”. I’m writing now to tell you some stuff about it….
    Horace and Pete is a new show that I am producing, directing, writing, distributing and financing on my own.  I have an amazing cast: Steve Buscemi, Edie Falco, Alan Alda, Jessica Lange, Aidy Bryant, Steven Wright, Kurt Metzger and other guest stars.  Also Paul Simon wrote and performed the theme song which is beautiful.
    The response to episode one has been great so far and there are more coming.  We are making them now and having a lot of fun doing it.
    Part of the idea behind launching it on the site was to create a show in a new way and to provide it to you directly and immediately, without the usual promotion, banner ads, billboards and clips that tell you what the show feels and looks like before you get to see it for yourself.  As a writer, there’s always a weird feeing that as you unfold the story and reveal the characters and the tone, you always know that the audience will never get the benefit of seeing it the way you wrote it because they always know so much before they watch it.  And as a TV watcher I’m always delighted when I can see a thing without knowing anything about it because of the promotion. So making this show and just posting it out of the blue gave me the rare opportunity to give you that experience of discovery.
    Also because we are shooting this show in a multi-camera format with an emphasis on a live feeling, we are able to post it very soon after each episode is shot.  So I’m making this show as you’re watching it.  
    Okay so let’s talk for a minute about the five dollars of it all.  If you’re on this email list then you’re probably aware that I always make an effort to make the work I do on my own as cheap as possible and as painless as possible to get.  That’s why my specials are five dollars and that’s why I sold tickets to my last big tour here on the site, with our own ticketing service at a flat price with no ticket charges and we have worked hard to keep my tickets out of the hands of scalpers.  
    So why the dirty fuckballs did I charge you five dollars for Horace and Pete, where most TV shows you buy online are 3 dollars or less?  Well, the dirty unmovable fact is that this show is fucking expensive. 
    The standup specials are much more containable.  It’s one guy on a stage in a theater and in most cases, the cost of the tickets that the live audience paid, was enough to finance the filming.  
    But Horace and Pete is a full on TV production with four broadcast cameras, two beautiful sets and a state of the art control room and a very talented and skilled crew and a hall-of-fame cast.  Every second the cameras are rolling, money is shooting out of my asshole like your mother’s worst diarrhea.  (Yes there are less upsetting metaphors I could be using but I just think that one is the sharpest and most concise).  Basically this is a hand-made, one guy paid for it version of a thing that is usually made by a giant corporation.
    Now, I’m not complaining about this at all.  I’m just telling you the facts.  I charged five dollars because I need to recoup some of the cost in order for us to stay in production.  
    Also, it’s interesting.  The value of any set amount of money is mercurial (I’m showing off because i just learned that word.  It means it changes and shifts a lot).  Some people say “Five dollars is a cup of coffee”.  Some people say “Hey! Five dollars??  What the fuck!”  Some people say “What are you guys talking about?”  Some people say “Nothing. don’t enter a conversation in the middle”.
    Anyway, I’m leaving the first episode at 5 dollars.  I'm lowering the next episode to 2 dollars and the rest will be 3 dollars after that.  I hope you feel that’s fair.  If you don’t, please tell everyone in the world.  
    Meanwhile, we’re going to keep making Horace and Pete.  We’re going to keep telling you the story.  
    I sincerely hope that you enjoy it.  I’ll write you again later and tell you more about it.  It’s fun to talk about.  But for now I want to shut up and not ruin the experience of you just watching the show. 
    Here’s the link for the website.  Enjoy episode 2 of Horace and Pete.  We’re shooting it now.  You’ll get it on Saturday morning. 
    This person, 
    Louis C.K.
    This is someone who may well make more money than me, but I honestly believe he is still connected to the real lives of real people. Even if I am wrong, I am pretty sure that you will have a few good laughs for your paltry spending. The episodes cost $5 (give or take) and last over an hour (or at least the one I have bought does), so whatever a twelfth of a dollar is, each minute costs you less than that.

    I have no advantage to gain by point you at this show: I am not on commission, there is no advertising on this blog (unless "don't be evil" Google have put some on without me asking), and your purchase, should you choose to make one, won't benefit me. But it may benefit you, particularly if you feel in need of a good laugh.

    The reason I have made this post is that I really like that he has specifically rejected the "intellectual property" paradigm, and is happy for people to enjoy his work at reasonable prices. So even though people are ripping him off (by republising his work like this - another sample if you still need convincing) (favourite quote: “I have a lot of beliefs, and I love by none of them”) he has no time for legal action and just carries on with his life.

    So go buy it, and enjoy it, and you owe me nothing in return.

    PS: Although it may not be very polished, his web site is the ONLY one I have so far come across that transfers the email address to the "I forgot my password" link instead of making me type it again. That's worth $5 to me, and the email I got in return was also very amusing):
    Apparently you forgot your password? Ok, so here's your new one, stupid:

    EMAIL:    ...
    PASSWORD: ...

    Here's the login page in case you forgot that too:
    https://louisck.net/account/login
    Real human being in there somewhere ...


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  3. Since the Chancellor's messages to the financial community are often coded, I thought it might be interesting to try and interpret the hidden messages behind the words of last night's Mansion House speech by the newly-re-elected Chancellor of the Exchequer, Gorge Gideon Oliver Osborne.

    My Lord Mayor, Ladies and Gentlemen, it is again an honour to attend this wonderful dinner and to speak to you as Chancellor for the fifth time.

    • Hello, everybody. What an election!.

    Lord Mayor, I remember coming here to Mansion House, just weeks after the government was formed in 2010 – with Britain on the brink of an economic crisis – to give my first major speech on the task ahead.

    • Here we are again.

    I set out for you the economic plan we would follow, and I drew on the words Winston Churchill had uttered in this very hall, to say that while Britain could not pretend our travails were at an end, we were at least at the end of the beginning.

    • Now we can start to cut the State to the bone

    In the four years since, supported by the resolution and sacrifice of the British people, we have worked through that plan.

    • It's been rewarding to see how little effective opposition our plans have created.

    Now we are starting to see the results:

    • Look at all the poor people struggling to survive.

    Britain growing faster than any advanced economy in the world.

    • Everyone is in the shit right now, so we have to concentrate on growth because that's the only positive indicator. It isn't difficult to look fast when you've been crawling for five years.

    A record number of people in work.

    • Zero hours contracts and reduction of benefits have allowed employers to offer horrendously unfavourable working conditions and forced people to accept them.

    Now strong business investment on the back of low business taxes.

    • You can now keep more of the profits for yourself and borrow what you like.

    And a budget deficit this year set to be half what it was.

    • But I don't tell you when it was twice as large because I'm hoping nobody will point out that I promised to have eliminated it by now.

    Last week, the IMF said that our resolute fiscal policy had been in their words an "anchor for the British economy" that had maintained confidence and stability in the face of the storm.


    And I want to say to the business and financial community: you did not waver; you stuck with us and I thank you.

    • So it's treble brandies all round, and we know how to take care of our friends.

    But the task is far from complete; and there are many risks to the progress we have made.

    • We can't be letting the poor get too mouthy about the situation.

    Abroad, the risks stem from the weak eurozone, unpredictable geopolitics and the slowdown in some emerging markets.

    • We continue to try to shelter you from the risk that investments can go down as well as up.

    At home, our economy is still too unbalanced, so I am the first to say we need to continue our efforts to boost business investment, exports and housing supply.

    • We want to make sure that big business is always profitable here so that rich people can continue to inflate the London property market.

    But the biggest risk comes from the tendency in parts of our body politic – the left and now too the populist right – to wage a war on enterprise, regulate prices, propose penal taxes, close Britain to business and return to the old ways of borrow and spend.

    • We have to make sure that nobody makes us take proper care of the people who foolishly trusted us with their futures. Bugger me, even some Tories are trying to tell me we are going too far. Can you believe that?

    We must win this battle.

    • The little people have no idea how to spend money, so we should do them the favour of making sure they don't have any.

    And go on confronting Britain’s problems with long term answers that will build an economy for everyone.

    • So we are going to hamstring future governments in ways that we would have found unconscionable when we took power and make sure that the wealth gap continues to increase.

    So while I know this is my fifth speech to you as Chancellor; I hope it is not my last.

    • There's always the chance of a vote of no confidence, but Dave fixed things by ensuring that was the only way to get rid of us, and no MP wants to become suddenly unemployed just to make the point that the people of this country are hurting. So you will see me again, remember.

    For I want to finish the job.


    Lord Mayor, tonight we are joined by someone attending their first Mansion House dinner.

    • Tonight I'd like to welcome to the club.

    Our Governor of the Bank of England.


    Mark, we all thank you for the integrity, intelligence and international reach you have brought to the challenges of the last year.

    • I think my boy done good so far.

    And we look forward to what you have to say.

    • And I'm hoping he will continue to see things my way. He'd better.

    Our 3 new Deputy Governors – Jon Cunliffe, Ben Broadbent and Minouche Shafik, together with Andrew Bailey, complete what I immodestly think is the strongest team of any central bank in the world.

    • Isn't the old pals act wonderful?

    The Court continues the oversight of the Bank’s work, and at the end of this month Anthony Habgood will replace David Lees as its chair.

    • Business as usual will continue under new management.

    David, thank you for helping steer the Bank through the big reforms of recent years and the appointment of a new Governor.

    • The knighthood is in the mail.

    And thank you too to Charlie Bean for the 6 years he has given our nation as Deputy Governor.

    • I'm calling you Charlie so we don't draw attention to the fact we already gave you a knighthood.

    We are lucky that one of our greatest economists has chosen to dedicate his life to public service for so long.

    • Otherwise we might have had to put up with someone more connected to the realities of everyday life.

    The Bank of England now sits back where it belongs, at the heart of our financial system – supervising the prudential regulation of our banks and insurers, thanks to the reforms I announced in my first speech here at the Mansion House in 2010.

    • Having given the banks a shitload of money we are happy to see that nothing else had to change.

    And in each speech since, I have set out new steps to strengthen the resilience of our economy and the financing that underpins it.

    • I continue to waffle pointlessly about changes that let you continue to do pretty much whatever you want no matter what the consequences to the economy.

    2011, ringfencing our retail banks.


    2012, launching Funding for Lending.


    Last year, restructuring the Royal Bank of Scotland and firing the starting gun on the sale of our stake in Lloyds.

    • Liquidating the government's investments in the banks to avoid having to raise taxes, ignoring that fact this only affect's a single year's deficit.

    It would be tempting this year, at the Mansion House, to pause for breath.

    • Haven't we done well?

    But our task is far from complete – and today I will announce further changes to build that resilient economy for all and the strong, competitive financial services that should contribute to it.

    • Pay no attention to the cries of the disabled and the homeless; we know who's really important in this country and we want them to get wealthier.

    Lord Mayor, the City of London has emerged from the wreckage of what went so badly wrong, stronger and better regulated, more international and more responsive to the needs of customers here at home.

    • We managed to protect you from your earlier fuck-ups and will continue to do so if you play ball.

    Our financial exports grew 10pc last year, and our surplus in finance and insurance has reached £45bn – twice as much as our closest competitors.

    • Ignore the fact that financial profits contributes nothing to the well-being of most citizens and that our manufacturing base continues to be further eroded, banks are having a terrific time.

    We’ve welcomed to Britain the headquarters of some of the world’s largest insurance firms.

    • Everybody's climbing on the bandwaggon as they see they can pretty much do what they like over here.

    And we have been chosen as the location for the International Forum of the world’s Sovereign Wealth Funds.

    • And our rich pals will continue to visit.

    In my first Mansion House speech, I said I wanted British financial firms and markets to be at the heart of financing China’s extraordinary expansion.

    • We smell real money over there in China, just like in the nineteenth century.

    Now two thirds of all Renminbi payments outside of China and Hong Kong now take place in London.

    • And the Chinese understand that our loosey goosey financial regulations offer real opportunities.

    Chinese bonds are being issued here, Chinese assets are being managed here, Chinese banks will be able to apply for branches here, a Chinese clearing bank is soon to be appointed here - and next week, when the Chinese Premier visits, we will take the next big step forward in the economic partnership of our two great, historic trading nations.

    • I just hope nobody notices that China is taking their responsibilities for global climate change much more seriously than we are.

    I can also confirm tonight our intention in the next few weeks, subject to market conditions, for Britain to be the first Western nation to issue a sovereign sukuk – an Islamic bond.

    • Of cours we also want the ragheads' money so we won't be issuing traditional Islamic bonds, which merely confer ownership of a debt and offer no profits.

    For I want Britain to be not just the western hub of Chinese finance – but of Islamic finance too.

    • All your monies are belong to us.

    It is with these active steps that together we are making Britain the undisputed centre of the global financial system.

    • We are aiming at creating a single point of failure the next time the ill-informed greed of those in the international financial system causes a melt-down.

    But all this can so easily be put at risk.

    • I'm a little concerned that democratic actions might one day reverse some of the benefits we have piled on you.

    By badly-conceived EU rules that only reinforce the case for reform in Europe.

    • The Europeans have been getting a bit uppity about our insistence on taking more than we give despite being according to my story one of the strongest economies.

    By populist proposals for self-defeating bonus taxes and punitive income tax rates.

    • And God forbid you should have to give more of your money to the public purse when the poor still have some

    And by the potential break up of our nation.


    Edinburgh is even stronger as a world-renowned centre for asset management because it is part of a United Kingdom that is a world-renowned centre of finance.

    • We want you to be able to keep your fingers in ALL the pies.

    And let us hope it remains so, for we are better together.

    • We aren't really sure what these SNP oiks are up to yet.

    We should be candid tonight about another risk.

    • You understand, of course, that I have to be seen delivering a mild slap on the wrist.

    The risk that scandals on our trading floors call into question the integrity of our financial markets.

    • But don't worry, it won't hurt.

    People should know that when they trade in London, whether in commodities or currencies or fixed income instruments, that they are trading in markets that are fair and effective.

    • We will continue to pretend that nobody is rigging the markets.

    The revelations about the manipulation of LIBOR added further damage to reputation of financial services, here and abroad.

    • You really shouldn't have let that one get out.

    In Britain, thanks to the leadership of Martin Wheatley and Andrew Tyrie, we acted swiftly to punish the wrongdoers and fix the system.


    Let us not wait for the next wave of scandals in financial markets to hit us before we respond.

    • Let us also ignore the fact that we can't respond to something that hasn't yet happened. We will continue to believe that we can predict everything that will happen.

    The integrity of these markets matters to us. London is home to 40% of the global foreign exchange business; 45% of over-the-counter derivatives trading; and 70% of trading in international bonds.

    • Look at me, Ma!

    And Mark Carney and I intend to keep it that way.

    • Would you like another treble brandy?

    So today I can announce that the Treasury, the Bank of England and the Financial Conduct Authority will conduct a comprehensive review of standards in our fixed income, currency and commodity markets.

    • But it will be the usual whitewash job so there's no need to worry.

    The Fair and Effective Markets Review will be chaired by the new Deputy Governor, and former Deputy Managing Director of the IMF, Minouche Shafik – and she will be joined by Martin Wheatley and Charles Roxburgh.

    • We called it that as a joke.

    This review must work closely with industry. So I am establishing a panel of market practitioners, chaired by Elizabeth Corley, chief executive of Allianz Global Investors.

    • So as you can see it's old pals all the way round, wiht nobody who's likely to make any waves involved in the process.

    The Review will produce its report in a year’s time.

    • Or later, but by then everyone will have forgotten about it.

    And some of its recommendations may require international agreement.

    • Our pals abroad have some useful ideas for getting richer.

    In the meantime, we will act here at home.

    • But we also have some of our own.

    I am today announcing that we will extend the new powers we put in place to regulate Libor to cover further major benchmarks across foreign exchange, commodity and fixed income markets – many of which are currently entirely unregulated.

    • You know, I just can't see an open stable door without wanting to bolt it. And it's so much easier than trying to figure out how you are cheating now.

    Based on the Review’s conclusions we will publish and consult on the full list of benchmarks to be covered by this autumn, and we will have the new regime in place by the end of the year.

    • Don't worry. You will just have to write reports that nobody will read.

    I am also extending the senior managers regime to cover all banks that operate in this country, including the branches of foreign banks.

    • But as usual "being held to account" won't actually mean punishment.

    And I can also announce that we will introduce tough new domestic criminal offences for market abuse, rather than opt into European rules we do not think suitable or sufficient for our needs.

    • Things are getting a bit sticky for crooked banker in Europe so we'll have our own regime instead.

    For let me make this clear, so no one is in any doubt.

    • This next statement is a lie.

    The integrity of the City matters to the economy of Britain.

    • HAHAHAHAHAHAHA

    Markets here set the interest rates for people’s mortgages, the exchange rates for our exports and holidays, and the commodity prices for the goods we buy.

    • Which is terrific, since we've made sure that there's no effective scrutiny on people trying to push the rates they way they want them to go.

    I am going to deal with abuses, tackle the unacceptable behaviour of the few, and ensure that markets are fair for the many who depend on them.

    • A few minions might get into real hot water, but mostly it'll just be fines again.

    We’re not going to wait for more scandals to hit– instead we are going to act now, and get ahead.

    • We will try and keep the scandals covered up.

    Ladies and Gentlemen, robust financial markets are an important part of building a resilient economy.

    • We demand your God-given right to make money simply by virtue of sitting on large piles of it.

    But tonight, I want to address another market which can create a risk to Britain’s economic stability and prosperity.

    • Enough of this unpleasantness. Sorry about having to do that.

    Not a new risk, but an old and very familiar one to us in this country – and that’s our housing market.

    • Remember how some of our mates got burned in Docklands?

    The challenge is that we want several things which don’t sit comfortably together.

    • Of course we want you to be able to have your cake and eat it too.

    For most people, their home is the biggest investment of their lifetime. And, of course, they want that asset to increase in value over time.

    • We will continue to pretend that a mortgage is the gateway to financial independence, ignoring the fact that you can only take your equity out by leaving yourself with nowhere to live.

    But a home is also a place to live and build our lives – and we want all families to be able to afford security, comfort and peace of mind.

    • Rich families, that is. The poor and disabled are stuck with the bedroom tax, and have to downsize or lose benefits.

    That means homes have to be affordable – whether you’re renting or buying.

    • We need to keep up the appearance that we care about the little people. 

    The only way that can be achieved over the long term is by building more, so supply better matches demand.

    • And since they can't afford to build property, that will be a spiffing chance for you to put those bonuses to profitable use.

    But we are a small and crowded island, keen to protect our green spaces and ready to object to new development.

    • They still won't let you build just anywhere.

    So the British people want our homes to go up in value, but also remain affordable; and we want more homes built, just not next to us.

    • Oiks.

    You can see why no one has managed yet to solve the problems of Britain’s housing market.

    • But being the God-given gift to the British economy that I am, I have an idea.

    Instead we have the repeated cycle of financial instability driven by high household debt; and we see the social injustice of millions of families denied good homes.

    • There has to be a profit opportunity in there somewhere.

    But that should not deter our generation from trying to fix the housing challenge – for the price of failure is too high.

    • We might not get re-elected if we fuck this one up.

    So my message today is this.

    • So listen up.

    As Chancellor, I have never shied away from confronting Britain’s problems.

    • God knows, I've created enough problems.

    The housing market is no exception.

    • So now I'm going to screw things up even worse.

    I’m determined to back aspiration in every way I can, including the aspiration to own your own home.

    • But more particularly, of course, the aspiration to have more money than you could spend in a hundred lifetimes.

    But I’m not going to opt for the easy route of some of my recent predecessors: duck the issues, risk a housing boom, and keep my fingers crossed that it won’t damage the economy.

    • You will remember that housing new starts under the last government reached record lows.

    So no irresponsible gambles with stability; no short-term fixes.

    • Don't expect me to do anything in a hurry.

    Housing is a long term problem – and our economic plan will provide long term answers.

    • If we work it right we can keep people paying through their noses all their lives.

    Here’s how.

    • I'm now going to waffle a lot.

    First, we have to be clear-eyed about where the risks to economic stability lie today.

    • We have to keep our eye on the oiks.

    The risks come when people borrow too much to pay for rising house prices.

    • They still seem to think they are entitled to buy property even though we have continues to force wages and working conditions down.

    In excess, that debt can cause serious difficulties for them and the banks who lent to them.

    • And we all know what happens when banks get too greedy and start lending to poor people to increase their profits.

    And it can cause difficulties for the economy as a whole if an overhang of debt suppresses consumer spending.

    • Besides which, other people want to take their money too.

    Now, today, house prices are still lower in real terms than they were in 2007 – and are forecast to stay below that peak for some years to come.

    • Of course I picked 2007 because that was right before the latest property bubble burst.

    At the same time debt-servicing costs remain at near record lows and rental yields are in line with long term trends.

    • But I know y'all like the almost free government money, and landlords are loving things now.

    So there is no immediate cause for alarm.

    • And we know you won't be banging on the gates with pitchforks in your hand.

    Indeed the most recent data shows that mortgage approvals have actually slowed in the last couple of months.

    • Besides which you are now refusing to lend to the hardworking people we had to pretend to care about to get elected.

    But we need to be vigilant.

    • But we can continue our games as long as we keep our wits about us.

    For there are on the horizon things that should give us some causes for concern.

    • For we have to make sure we keep the profits flowing.

    If London prices were to continue growing at these rates that would be too fast for comfort.

    • Even the moderately wealthy are now finding it difficult to buy the places they want (though of course the obscenely rich don't give a shit).

    And the rate of price rises is now beginning to spread beyond London.

    • Central London is now stuffed full with rich people.

    Across the country, the ratio of house prices to incomes is high by historical standards.

    • Which is why I chose 2007 as the baseline for my earlier comparison.

    And while average loan to value ratios for new lending are still well below normal, average loan to income ratios have risen to new highs.

    • We've managed continue reducing incomes in real terms as property prices continue their remorseless rise.

    Let me spell it out: does the housing market pose an immediate threat to financial stability today? No, it doesn’t.

    • So the housing market poses an immediate threat to financial stability.

    Could it in the future? Yes, it could, especially if we don’t learn the lessons of the past.

    • And things could get worse if you don't buck your ideas up. Repossessions make the government look bad.

    So we act now to insure ourselves against future problems before they can materialise.

    • And despite the fact that we are all pals, we aren't going to let you make us look bad.

    Because economic security comes first.

    • Because we want to be re-elected again in five years.

    The first challenge is to be clear about the issue, and we are.

    • So that's the waffle over with.

    The second is to act on it.

    • You may not like this bit.

    When I spoke to you in 2010, I said one of the weaknesses of the system of financial regulation I’d inherited was that no one was looking for broader risks across the economy, in areas like housing.

    • My predecessor as Chancellor was no more in charge of the economy than I am.

    So no one saw the rising debt levels – or had the tools to do anything about them.

    • So I can hardly blame him for his short-sightedness.

    I have changed that.

    • Now we will be able to see the rising debt levels and not do anything about them.

    The new Financial Policy Committee in the Bank of England has been given the authority and the macro-prudential tools to act.

    • Please don't ask me what a macro-prudential tool is - my advisors put that in.

    They have also insisted on the toughest stress tests for our banks, so that this time round they can withstand the worst.

    • Rather than splitting up institutions that we hold to be "too big to fail" we have started to maesure just how much too big they are.

    Before Christmas, the Bank acted with the Treasury to refocus the Funding for Lending Scheme away from mortgages towards small business lending.


    And earlier this year, our regulators put much more rigorous mortgage standards in place.


    These are all important steps.

    • This helped to make us look as though we tried to make you change your ways.

    The FPC already have further tools in their armoury. But today we go further.

    • And if the Conservative Party donations dry up, watch it. And now, for your amusement ...

    I want to make sure that the Bank of England has all the weapons it needs to guard against risks in the housing market.

    • Even governments who dislike regulation have to do something when the banks are too stupid to act in their own best interests.

    I want to protect those who own homes, protect those who aspire to own a home, and protect the millions who suffer when boom turns to bust.

    • We have to say this kind of stuff so the turkeys will keep voting for Christmas.

    So today, I am giving the Bank new powers over mortgages including over the size of mortgage loans as a share of family incomes or the value of the house.

    • So I am making sure that the next time you get caught with your pants down you can blame the Bank of England for not regulating you effectively enough.

    In other words, if the Bank of England thinks some borrowers are being offered excessive amounts of debt, they can limit the proportion of high loan to income mortgages each bank can lend, or even ban all new lending above a specific loan to income ratio.

    • Stop lending to poor people!

    And if they really think a dangerous housing bubble is developing, they will be able to impose similar caps on loan to value ratios – as they do in places like Hong Kong.

    • Really, stop lending to poor people.

    It’s important that decisions to use these powerful tools are made independently of politics by the Bank of England.

    • We will nevertheless continue to ensure that bankers and politicians maintain our cosy relationships behind closed doors in our gentlemen's clubs, we just can't let anyone know what we are doing.

    We saw from the last crisis the dangerous temptations for politicians to leave the punch bowl where it is and keep the party going on too long.

    • Because ultimately we all know politicians can be just as greedy and stupid as bankers.

    And just in case there is any doubt.

    • Nobody with half a brain is going to believe this.

    I say today, very clearly: the Bank of England should not hesitate to use these new powers if they think it necessary to protect financial stability.

    • But it means I too will be able to blame the Bank of England when the shit hits the fan.

    And I commit that while the Bank and the Treasury will need to design how these powers will work in detail, and will want to consult on them, I will make sure that they are legislated for and in place before the end of the Parliament.

    • So yo just let Mark know what you want. He'll tell me and I'll make sure you get the laws you need to back it up.

    And I also commit today that if the Bank does act in future to limit mortgage lending then the same rules will be applied to every single Help to Buy mortgage.

    • People seem to think we went a bit too far in reducing the housing stock available for purchase, but everyone seems to be loving the inflated rent levels.

    I know that some would take a more ideological position and end the Help to Buy scheme altogether.

    • I will continue to refuse to admit that I have ever been wrong,

    They would return to the situation where only those first time buyers lucky enough to have rich parents would be able to afford the large deposits demanded by the banks.

    • Of course people on lower incomes still won't be able to afford to buy.

    My approach will be dictated by the facts, not by ideology.

    • But ideology has to be supported no matter what the cost.

    And the facts show that Help to Buy is working as intended.

    • Did I mention that lots of my friends love the inflated rents they can charge on their government subsidized property purchases?

    As the IMF concluded last week, it is helping lower income families, overwhelmingly first-time buyers outside London, to buy homes priced well below the national average.

    • Of course people still can't afford houses in London.

    It is not fuelling house price inflation in London or at the top of the market.

    • Property inflation in London is going crazy.

    It is helping families, and that is how we intend to keep it.

    • Rich families deserve our support.

    So today I’ve taken big new steps to protect financial stability, strengthen the new role of the Bank of England and completed the range of tools at their disposal.

    • So today I've window-dressed the property market, but business as usual can continue.

    This addresses the economic problem of how we stop rising house prices leading to an unsustainable rise in household indebtedness, and threatening the wider economy.

    • I have no proof that this will work, but the evidence is that we just have to say it's working and the Murdoch press will amplify that in their echo chamber so everyone believes it.

    But it does not address the social problem of how we stop young families being priced out of the housing market altogether.

    • We have to price young families out of the housing market altogether.

    That requires a third pillar to our housing strategy, alongside the clear analysis and new financial weapons.

    • And we are prepared to do so at any cost.

    We need to see a lot more homes being built in Britain.

    • The homeless are beginning to make the place look untidy, and builders are complaining about low profits.

    The growing demand for housing has to be met by growing supply.

    • Of course there isn't any other way to meet a demand, but I have never been one to eschew redundancy.

    The alternative, as in any market, is that prices will rise so that homes become unaffordable to many of our citizens and take up ever more of their incomes.

    • Prices will continue to rise to make homes unaffordable to most young people, and the banks who issue mortgages will continue to get more of homeowners' money.

    We’ve already taken big steps to deliver those new homes.

    • We heard you the first time.

    We’ve reformed our antiquated planning system.

    • And we've done all we can to ensure that property developers can continue to ruin London's skyline.

    The changes were hard –fought and controversial, like all things worth battling for in politics, and now they are already starting to work.

    • Of course the oiks didn't like it.

    Last week we saw permissions for new homes rising by 20% in a year.

    • But the builders did.

    We’ve got the biggest programme of new social housing in a generation; we’re regenerating the worst of our housing estates; and we’ve got the first garden city for almost a century underway in Ebbsfleet.


    Now we need to do more. Much more.

    • So we were kind of forced into this.

    We have beautiful landscapes, and they too are part of the inheritance of the next generation.

    • Don't you just love Hyde Park?

    To preserve them, we must make other compromises.

    • And of course nobody really cares where the oiks live.

    If we want to limit development on important green spaces, we have to remove all the obstacles that remain to development on brown field sites.

    • So we are going to make it easier to put them on dodgy land.

    Today we do that with these radical steps.

    • Of course there'll be a lot of bitching and moaning.

    Councils will be required to put local development orders on over 90% of brownfield sites that are suitable for housing.

    • And we won't really worry too much about what "suitable" means - that's why we changed the regulations to reduce the scope for appeals.

    This urban planning revolution will mean that in effect development on these sites will be pre-approved – local authorities will be able to specify the type of housing, not whether there is housing.

    • And we've got those pesky local councils out of the builder's way so that local opinion won't mean shit.

    And it will mean planning permission for up to 200,000 new homes – while at the same time protecting our green spaces.

    • We'll still be able to enjoy our lovely country homes unbothered by oiks.

    Tomorrow, Boris Johnson and I will jointly set out plans for new housing zones across London backed by new infrastructure, so that we see thousands of new homes for London families.

    • Boris had got some great ideas about where we can put the oiks in London.

    And we’ll take the same approach in the rest of the country; with almost half a billion pounds of financial assistance in total set aside to make it work.

    • Treble brandies all rounf for the builders, that should shut them up.

    Now I suspect there will be people who object to new building, even on the brownfields of our cities.

    • Remember, the oiks aren't going to like this.

    But let me be clear.

    • But screw them.

    I will not stand by and allow this generation, many of whom have been fortunate enough to own their own home, to say to the next generation: we’re pulling up the property ladder behind us.

    • Time to pull the property ladder up behind us.

    So we will build the houses Britain needs so that more families can have the economic security that comes with home ownership.

    • We are planning for the wage slaves to become mortgage slaves as well.

    And today I will give the Bank of England the powers it needs over mortgages, so that Britain’s economic stability always comes first.

    • But remember, you have to run your finance plans past Mark first. Just call his PA and arrange lunch at your club.

    And that is what our long term economic plan is delivering.

    • Don't you just love having a conservative majority?

    Lord Mayor, Ladies and Gentlemen,

    • So, before we get the cigars out

    Insisting on the integrity of our financial markets.

    • Business as usual on banking corruption.

    Confronting the risks from our housing market.

    • More money for the builders and financiers.

    Tackling the long term challenge of housing supply.

    • Making sure we don't have to mingle with the hoi pollpoi.

    These are the further actions I take today to ensure that we learn from the mistakes of the past and build a resilient economy for all.

    • So the next five years should be a bonanza for the wealthy.

    These last four years have required difficult decisions.

    • We got tired of listening to the LibDems whining.

    We embarked on the hard task of rebuilding our economy; and making sure our country could pay its way in the world.

    • But now, after Miliband's over-hasty departure we have no effective political opposition so we've been able to do what we like.

    That task is not complete.

    • And wait, there'll be more.

    Our national prosperity is not yet secure.

    • We see no reason why the wealthy should not continue to increase their wealth at the expense of the downtrodden, and now nobody else cares about them either.

    But if we carry on working through our long term economic plan then we can say with confidence that brighter days lie ahead.

    • So, like I said, treble brandies all round. Who's got the cigars?
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  4. [Editorial note: I am not currently in America]

    There's been a huge brouhaha within the Labour Party after its recent election defeat. Strident language is being used, and supporters of Tony Blair's thinking are attempting to use this to stage a comeback (for the ideas, not the leader, thank Heavens). Everyone agrees that the party needs to change, and there are forces pulling in wildly different directions. This seems fundamentally healthy to me—why, in a democracy, would we expect to benefit by suppressing discussions about the future of a democratic political party?

    Given my disappointment at the inaccuracy of the pollsters' predictions I have joined the Labour Party, in order that my voice comes from within the organization rather than from outside. I too think it is time for change, but my recipe for change isn't the same as the alternatives being commented upon eternally in the press.

    The relationship between the Labour Party and the trades unions has along history. Both emerged from the struggle to achieve fair rewards for work performed. By the nineteenth century almost all trade and commerce was managed purely in terms of money money. Gone was the feudal system, replaced by capitalist companies all seeking to make a profit by manufacture or the provision of services. By the nineteenth century working conditions had become so bad that unions were necessary to defend workers' rights. By the twentieth century the Labour Party was necessary to try and achieve the political power to change the way things worked.

    Over a century later it's worth asking whether the party's founding values are relevant any more. I would argue that they are. Len McCluskey, general secretary of the Unite union, has challenged the Labour Party “to demonstrate that they are the voice of ordinary working people, that they are the voice of organised labour,” suggesting that such a voice is still required. But the unions have their own problems, with overall trades union membership in the UK down from a 1979 peak of just over 13,000,000 members to around half that in 20131. In fact, I don't believe it's the Labour Party that's out of touch with people, I believe it's the unions.

    Younger people have traditionally failed to see the relevance of union membership, and that trend appears to be increasing2. It's only among people past the age of 50 who increasingly see the benefit of union membership. This is not a case Labour can make for the unions, and frankly I'd like to see the unions working much harder to make it for themselves. The point is that no matter how much unions increase their membership, the Labour Party must appeal to a broader church. This does not mean that unions should be excluded—their members are, after all (at least those signing up for the political levy, thank you Margaret Thatcher) already aligned with Labour Party values.

    Therefore for Labour to succeed in future elections it has to establish a commonality of interest between the ”working” classes and the “middle” classes. The fact of the matter is that with the increasing polarizations of income, even the middle classes have less to say to government nowadays. Government is too busy listening to how it can make things easier for the rich, who apparently aren't getting richer fast enough.

    The failure to establish this commonality of interest was brutally punished by the Tories in this election, and rightly so. But the good news is that the voting at the general election implies that the situation is unusually fluid at the moment. I hope that the Party takes advantage of this interregnum to forge a policy that doesn't pit the white collar against the blue collar. Nowadays we are all workers.

    1. Trade Union Membership 2013: Statistical Bulletin - Department for Business Innovation and Skills, p21
    2. ibid, p12

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  5. I have no right as a British national to come across as holier than thou in this matter. Britain has been screwing over other nations since before the United States of America was a gleam in the Founding Fathers' eyes.

    My fundamental question is this:
    Why, if democracy works, is a Congress with a 7% public approval rating not being vociferously opposed as and when it seeks re-election?
    You know my position; I am a disenfranchised immigrant from your former colonial ruler. But it's time that the people of America called its government to account over the disgustingly imperialist policies since Yalta (at the end of World War II, when the current carve-ip was agreed).

    Referring back to my opening point, I would also like to know why my fellow British citizens are not demonstrating in protest at the latest attempt to shed support of the least privileged.

    I will lay it on the line for those who can ignore the (entirely untruthful) spectre of Senator McCarthy. I am a socialist. Socialism means equality of opportunity. I have invested twenty years in being (to some extent) American. It currently appears that the only difference between being American and being British is the recency of the atrocities visited upon the world by our countries.

    Being socialist does not mean I hate the rich. I can best explain by echoing Aneurin Bevan (the instigator of the British National Health Service), who famously said there was nothing wrong with being a rich socialist - that simply meant you could be a better one.

    Currently the whole idea of a "commons" is under threat. In a world where the chairman of Nestlé can seriously promote the idea that people have no inherent right to potable water one shudders to think what will next be claimed by the emotionless "sorry it's just business" world as something we should be expected to pay for. It seems like "the air we breathe" is the next logical candidate, so why should we be surprised that the industrial world continues, against the best scientific (not imagined, so please don't bother responding with denialist arguments) opinion? After all, the worse they screw up the atmosphere the more important it will be to be able to buy breathable air. And how better to lose the poor for ever than to deprive them of the right to breathe?

    Of course the real tragedy of this scenario (to me, at least, the most realistic in predictive terms) is that only when the rich are left "unburdened" by the poor will they finally realize how necessary the poor are. It's like biodiversity; only when you've screwed it over do you realize ow vitally important it is to your well-bing.

    This myth that all would be well if only the poor people would go away ignores firm statistical principles that undeniably assert that a normal distribution of incomes over a population of seven billion is bound to include a small number of obscenely rich people and a large number of people who are forced to live below any sensible assessment of "poverty level" in the 21st century.
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  6. It's a strange time to be living in America. It is said that those who cannot remember history are doomed to repeat its mistakes. Yet very few people seem to realize that there are some uncomfortably close parallels between present-day America and 1930's Germany around the time of the collapse of the Weimar republic. Alas, these few are not in government, and so the "democratic" nation of the United States of America is under attack not from without (as the architects of the current crisis would have us believe) but from within.

    There are many who accuse Bradley Manning and Edward Snowden of treachery. Predictably the media attention has been focused on the charges rather than the information disclosed. This is a smoke screen.

    It seems incontrovertible that among the materials Manning released to Wikileaks there is evidence of war crimes and cover-ups (along with the usual diplomatic double dealings that reveal the everyday duplicity of American foreign policy). So here's a question.

    How was Manning supposed to get action on these crimes? It's not sensible to suggest he should have gone through channels, since the material he was concerned about revealed precisely that the channels were covering their asses for dear life. I am sure that people must have many ideas of different ways to blow the whistle, and I am interested in whether he had any practical alternative. If you think he should have just kept quiet then shame on you.

    How does this relate back to pre-war Berlin? Well, I look around each time I leave the United States and I see a huge army of trained goons (often, with all due respect, not the brightest individuals you would expect to meet in a day's march) prepared to put people to almost any inconvenience to negate a threat smaller than the risk of crossing the road. I see a country where large areas of one of the largest cities can be confined to their homes by law enforcement officers, who appear to feel that they have the right to impose terror on anyone they meet. I see a government that is doing everything it can to erode the freedoms and civil liberties enshrined in a constitution that is rapidly being made a laughing stock by the courts. I see a Congress the majority of whose members appear to be far more interested in lining their own pockets and assuring their present and future comfort than in the welfare of those they allegedly represent.

    In these circumstances I read that one of the charges of which Manning was convicted involved the use of a program called wget. It's a way to retrieve content from Internet web servers without using a browser, it comes with most Linux distributions and can be freely obtained for almost any operating system. I frequently use wget myself, as do many of my technical peers in the web community. Here's a chilling little quote from a report on the case.
    Manning’s lawyers asked the judge, Colonel Denise Lind, to dismiss the charge, saying that their client hadn’t stolen passwords or bypassed digital firewalls to access the documents and thus had not committed computer fraud. But Lind declined to throw out the charge.
    So I now find myself as a regular user of a program whose use can (in my opinion arbitrarily) be prosecuted as computer fraud—even if it were freely available to anyone with a web browser. I have taught security classes for the last fifteen years, and clearly possess the means to subvert network protections should I choose (which I don't). And in this climate I am starting to wonder “when will they come for me?”

    It's the people's responsibility to keep the government honest. By neglecting that duty we have created a government where even the well-intentioned can make little progress. The body politic has been neglected so long that its cancer is metastasizing. If we don't get our scalpels out and start cutting, pretty soon there will be nothing left worth saving.

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  7. Just suppose that one day one of those nearest and dearest to you—it could be a son, a father, a daughter, a cousin, a wife, a lover—was wiped out in a senseless terrorist incident. Just gone. No chance to say goodbye, to exchange a last loving farewell. Just gone, never to be seen again.

    There is, inevitably, some controversy about the motivation behind the World Trade Center destruction, and even some about the true identity of those responsible. Whatever the truth, thousands upon thousands of people had to come to terms with that terrible truth either on that day or later, when all hope was lost or remains were identified. Who among us who blessedly has not experienced such grievous loss could fail to feel sympathy for those left behind to mourn the victims.

    The “war against terrorism” pretends to keep us safe from such catastrophe, though in reality we all know at the back of our minds that no matter to what extent we manage to control risk there is no way to completely remove it. The probability of suffering harm at the hands of terrorists is miniscule, and they are called “terrorists” precisely because they are afforded mindshare far above their actual threat level. We are scared of flying, but more people die on the roads per passenger mile traveled by far. We are scared of terrorists, but 40-80,000 a year die of medical error and people walk happily through the hospital doors.

    It's bad enough that “the enemy” isn't easily identifiable (an essential part of the national security game: tell the people “they” are threatening “us” and the people will respond by giving you carte blanche to persecute anyone you damned well please). it appears the American people will do anything rather than hold the government they voted in responsible for upholding the Constitution and the rights established by long tradition and hallowed process.

    Now imagine a world in which Iran, or Turkey, or some far away nation which, if you are American there is a good possibility you would have no idea how to find on a globe (and if you do, please don't be offended, I applaud you and wish that more of your countrymen would acquire some elementary knowledge of global geography) is at war with Canada. God knows why that would ever happen, but it's the kind of crazy shit that we have to “defend” ourselves against, apparently. Of course America's favorite method of defense is offense, so better not look at us sideways or we will wind our military-industrial complex up and let loose the dogs of war. Iraq and Afghanistan both know how that story ends.

    But just suppose that Iran, say, had a fully-developed nuclear arsenal* (if only there had been someone to bully the United States about nuclear technology research in 1944/5 the way the Western world is bullying Iran) and was at war with Canada. Suppose further (despite the geographical improbability: a certain suspension of disbelief is required here) that a friendly adjoining power had offered the use of their air bases to allow Iran to fly drones over Canada.

    Of course the natural tendency of all red-blooded Americans would be to try and help the Canadians in any way they could. The US government, being the chickenshit bunch of lying crooked self-serving criminals that it usually appears to be (and so much for “change we can believe in,” by the way), would doubtless advise its citizenry not to take matters into their own hands for fear that retaliation might come their way.

    Despite this sensible advice it is likely that at least a few bunches of hotheads, either spoiling for a fight or out of an outraged patriotism and the simple wish to help their fellow men, might offer aid to people across the border that they had been accustomed to daily dealings with for several hundred years (the thing about national boundaries is the way they demonstrate so readily that there are human beings on either side—whatever their differences, their shared humanity overwhelms them).

    So here’s a last suppose. Suppose that Iran decided that the hotheads should be discouraged by sending drones across the US border from Canada. Suppose they had taken the time to list people by name that the drone operators were allowed to attack if they could satisfy the case officer that there was a sufficiently high probability they would be killed. Suppose that “collateral damage” (which as we all now know thanks to the Viet Nam War—that well-known attempt to prop up Western democracy by ignoring all its principles, which is kind of America's bag in foreign affairs—actually means more sons and daughters and uncles and wives and babies of entirely innocent people) was acceptable to Iran, and that more people had been killed as a result than died in the World Trade Center attack.

    Now replace "Canada" with Pakistan and "Iran" with "the United States" and you have a pretty good idea why more people hate America every day. Please stop doing this to your fellow human beings.

    The US government has for decades been running scared that its crimes will be exposed. Hopefully with the help of patriots like Bradley Manning and Edward Snowden we are ushering in an age of openness, where there will be nowhere for the petty bureaucrats to hide their outrageous offenses against humanity. But you, as an American, have a part to play. You have to stand hard, and tell your government at every opportunity that democracy cannot be defended by subverting or ignoring its principles.

    I don't love America for the country is is today. I love it for the country it was, and could be again. Please help.

    * Dear NSA: please note that I have no knowledge on any practical matters concerning nuclear weapons, and the only reason I included this footnote was to say that if I get any grief at all about this piece then fuck you. Fortunately I am an insignificant little nobody, so you needn't be troubled. But if you tell my girlfriend about that email I sent last Thursday to the cute blond I met in that bar there WILL be trouble, right?
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  8. It's been a while since I posted anything here, for reasons too complex and boring to trouble you with. Suffice out to say that the beautiful garage is now someone else's garage. I am living in the Richmond area of Portland, Oregon, one of whose slogans is "keep Portland weird."

    It would seen that request is taken seriously in my neighborhood. At the Bagdad, where the Kirbster and I were awaiting the start of a comedy performance, I espied a man with a dog roughly a large as himself.
    It's plain from this picture the dog had a very affectionate nature. Just as well. I think I like weird.

    Since no performers are in the room I hope the Bagdad don't mind me showing you a picture of the stage. Good luck to everyone who goes up to the mike to entertain us tonight.



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  9. There has been much talk lately about the vacation of the various sites occupied by protestors. Those critical of the protest movement have interpreted this as evidence of lack of determination. Yet, as Lindsey Walker put it in her open message to the city of Portland and its occupiers, "who would camp outside if they didn't have to?"

    That, of course, leaves those that have to: the people with no houses to go to. The homeless (or rather the houseless, since technically the whole world is their home) were there in Portland and New York before the occupation began, and they are still there now. And while many of the occupiers have a place to go as the nights draw in, the houseless can only look forward to cold nights with, if they are lucky, some shelter against the weather.

    It is to Portland's credit that the first phase of the occupation has come to an end without serious confrontation between the occupiers and the city. When Mayor Adams said that the occupation had gone too far many occupiers looked hard at what the occupation had become and agreed that this was not a positive direction for the city or the occupied parks; quite a few had moved out by Friday night.

    The police sensibly did not attempt to march in immediately after the deadline expired. Their later move to break up the remaining camp early in the morning after the victorious protestors had gone home to a well-deserved sleep was perhaps somewhat cynically timed, but tactical decisions of that nature are never easy until it comes to second-guessing. The fact remains that Portland's mayor (unlike New York's) has managed to show respect for the aims of the occupy movement and a willingness to work with it which the movement has reciprocated.

    My friend Kirby remarked today that the opposite of occupation is vacation, and that if America as a nation were to vacate the places it invades more readily then its foreign wars might be less expensive in human lives as well as financially. In the case of the occupation, however, people have returned to their former lives with a feeling of solidarity and (in some cases) a wish to continue to help those who will be left behind. Some of those houseless people were beginning to find reasons for self-esteem during the occupation, and it will be good if they aren't forgotten in the aftermath.

    The solidarity is something that will continue to build. People have seen a broad coalition of forces getting involved in occupy, and it just might be enough to get the whole country shouting "I'm as mad as hell, and I am going to do something about it." It is no longer enough for the mealy-mouthed to pay lip service to the complaints of the majority (remember, the 99% is made up of left and right). Something fuundamental now has to happen in response to the honesty of the occupy movement.
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  10. I am sure that nobody thinks that the Justices of the Supreme Court are in any way corruptible. It seems to me, though, that the results of their recent work are such that they may just as well have sold out to the corporate world and profited from it as handsomely as they can.

    The verdict just handed down by the Supreme Court in McCornish v. Bennett appears to tell us that free speech is only free if it can be purchased in unlimited quantity. This judgment has declared unconstitutional the state of Arizona's desire to ensure that nobody buys an election by having public funds move towards matching private spending when candidates who choose not to take public funding spend significantly more than the privately-funded candidates. According to the OpenSecrets blog:
    Chief Justice John Roberts wrote the majority opinion, stating the law limited free speech of outside groups and candidates who accepted private funding, because it matched that funding with government money. 
    That assertion, an essentially correct summary of a lengthy judgment, in effect says that the states are powerless to fight against corporate corruption of politics. Justice Kagan is rational and even spirited in her dissenting view, but in my opinion this 5-4 vote sets a hitherto-unseen low in the constitutional ethics of the Supreme Court. This is the most insane judgment imaginable in a world where we have just had ample evidence, from both a global financial collapse and a record oil spill, that corporations are not out to help the people whose lives they profit by.

    Following, as this does, hard on the recent judgment in Citizens United vs. Federal Election Commission that unlimited corporate campaign contributions are "free speech," this heralds an new era in American history where corporations can pretty much buy whatever system of government they want without even having to apologize for it. Let nobody who has observed the naked greed of the Wall Street Contemptibles over the last three years be under any illusions that moderation will be the order of the day. Many of the rich would happily have a poor person starve if it meant an extra dollar in the bank (and most would prefer not to think about such unpleasant topics). Regulation will go to hell (because it's expensive, and corporations have to pay taxes to fund it) and enforcement funding will be squeezed so that companies can freely flout even those laws remaining on the books (as they do in the mining industry) without fear of reprisal.

    Until breaches of ethics once more become an acceptable reason for dismissal and career decline there is no hope for the average voter, since there is nothing left to vote for that cannot be corrupted by corporations at the drop of a check book. Welcome to America: caveat emptor, and if you can't buy anything you have no voice.
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Yorkshire Stuff
Yorkshire Stuff
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A director of the Python Software Foundation for eight years and its chairman for three, Steve wrote Python Web Programming and several popular Python classes. He plans to spend a lot more time in the UK from now on.
Past answers to random questions: Unlike a dog, how can a turtle ever be naked? It might have executed a shell escape ...
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