Tag Archives: UKIP

June 30, 2014 · 13:43

Exit strategies anyone?

Today is an interesting day. The article in the Guardian (at http://www.theguardian.com/world/2014/jun/28/european-union-exit-will-harm-britain-says-cbi) is well worth reading and in addition, I must state that I am not sure whether I have made up my mind what would be the best course of action. I have been on both sides of this and I am currently on the fence. First of all, the UK must do what is best for the UK and beyond that the UK should do what is best for the Commonwealth. I personally think that this is the status as it should be at the moment. The question becomes whether Europe is the best for the UK. I am not talking about the Juncker issue (even though that seems to be part of any decision), but where should we be? The headline states “EU exit will harm UK, says leading British industry group“, yes THEY will talk in their own interest, they always do. The Eurostat numbers are unconvincing (at http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/2-22012014-AP/EN/2-22012014-AP-EN.PDF), today’s reserved savings are tomorrows signal to abundantly overspend funds, that much has been seen again and again ever since 2009, when the taps should have been closed. This is also at the heart of the matter for what is best for the UK. And in all honesty, the UK has overspent their quota a fair bit too. Now we have a new issue. Up to 2013 we got to see a picture from some of the more decently reliable sources, yet, now later in 2014, there is almost nothing on the projected and actual numbers for 2013. There lies the hidden issue, it is not that there is little, there is too little information now, so who to believe. When governments are not boasting, they are definitely hiding some issues under the carpet and those issues will impact the UK too. I will not bore you with the numbers UKIP gives us (at http://www.ukipmeps.org/uploads/file/Cost_of_the_EU_25_5_11.pdf), they are talking their own brand of flavour, as would Prime Minister David Cameron, but where is the truth?

My benefit here is that I speak half a dozen languages, which gives me additional sources. The ‘Nederlands Dagblad‘ gives us (at http://www.nd.nl/artikelen/2014/februari/28/lagere-overheden-verwachten-te-hoog-tekort) the following: “Gemeenten, provincies en waterschappen verwachten dat hun begrotingstekort dit jaar uitkomt op 3,7 miljard euro. Dat is zeshonderd miljoen euro meer dan volgens de afgesproken norm mag” [translated] “Municipalities, counties and Water boards (a flood control and water resources management group) expect that their budget shortage will total at 3.7 billion, which is 600 million more than agreed upon“.

So the Dutch are already coming up short at present. This does not mean that this will be the end result! At http://www.bnr.nl/nieuws/beurs/487506-1302/liveblog-economie-krimpt-begrotingstekort-naar-33-procent-in-2013, we see the mention that the Dutch will have a budget shortage of 3.3% in 2013 and 3.4% in 2014. How much of this is correct, and when were some projections made?

We see the Dutch news on how the American economy is down 2.9% and that Bank managers are now getting a sizeable raises, yet the overall shortages of the Dutch is not really discussed on sites with above average reliability (like the NOS). The only one in a ‘happy happy joy joy’ position is Germany who now seems to have a budget surplus. Again, the harsh cuttings Germany did from 2010 onwards paid off, but they seem to be the only one. France deficit was set at 4.1% for 2014, so as we see the list grow, is it truly a good idea to stay in the Euro group? Industrials might think this, but they will not be confronted with the financial measures that will hit the UK and its taxpaying citizens. I was at first in the same boat where I thought that going out of the Euro was a bad idea, but as we see the growing concern of nearly all EEC countries going over the deficit limit, can the UK afford to stay in there? Moreover, will staying in until 2017 turn out to be a dangerous issue?

This is part of the issues, which I have stated before. When, not if the American economy goes over the edge, those in deep debt will get a new approach to humility. That part is still a dangerous situation for the UK as well (with a balance of almost minus 1.5 trillion). So, the dangers of additional debts from Europe would cripple the UK as well. This is as I see it part of the reason why the UKIP got such a huge success. The bulk of the politicians and all the other parties have been dancing around the economic situation. Most people have noticed it and 26 months of ‘feigned’ economic recovery is nice for the industrials, yet the people have not seen ANY improvements in their lives, which is the centrepiece of all the stress out there. This is part of the situation all are avoiding.

If we consider the Independent (at http://www.independent.co.uk/news/uk/politics/tony-blair-nigel-farage-and-ukip-are-deceiving-british-public-and-holding-back-the-unemployed-with-immigration-rhetoric-9472289.html) we see another side. I would be willing to agree with this, yet the voice of Ed Miliband is not giving decent clarity and David Cameron is voicing the need of big business (to a larger extent), they all are talking in their own fast lane and the people end up being not in any good place.

Even now, less than an hour ago, Ed Miliband is quoted by Reuters as ‘looking to shed the anti-business label‘, which gives a lot less security to the people. In this confusion Nigel Farage is cleaning house as he is stating what people seem to want to hear. The correct critique remains how truthful are his statements?

This is what is driving the people in regards to an exit strategy. As the news is playing a game of what I personally regard as ‘managing bad news’ in several nations, the people are catching up and losing faith in governments in general. This is partially driving the demand for a European exit. The people are losing faith in the ‘facts’ as presented, because good news gets overinflated, bad news is managed and the press seems to help out governments and big business in not giving proper tallies, as too many are depending on advertisement funds (often from Big Business). We all seem to watch a weighted scale. Under those conditions, many prefer to go it alone and see that part return. Let’s not forget that before the Euro, the UK was in a pretty good position. The entire mass flocking to UKIP are remembering those days and they are hoping that they will return to these days and UKIP is talking right into that alley of expectations.

In regards to the article with the quote involving Tony Blair “The answer to the white, working-class unemployed youth in alienated communities in Britain is not to tell them their problems would be solved if there were fewer Polish people working in the UK, he said“. I tend to agree, but the truth is that these Polish workers seem to be getting some jobs and this is causing more stress with those desperately seeking work. I am not voicing any anti-Polish thoughts, the question becomes how did they get those jobs and more important, if this is how some businesses are getting cheap labour, why is this not dealt with in regards to unfair working conditions. The Telegraph (never a great source for quality info) is publishing articles on how 10% of a company is Polish. This is getting to the people, who do not look at the whole picture. The Independent is bringing us a much better story quality wise (at http://www.independent.co.uk/news/uk/home-news/migrants-in-britain-a-decade-on-the-poles-who-brought-prosperity-9278710.html). The article by Emily Dugan shows the story of a Polish entrepreneur, who because a success through hard work, employing dozens of people. This Radomir Szwed shows another side, one that does not get illuminated that often. It is a story all should read, only to show that immigration is not a source of job losses, but one that brings jobs too, yet the Telegraph is not that likely to bring such a story.

All this brings us to a less appealing story in the Guardian (at http://www.theguardian.com/politics/2014/jun/18/nigel-farage-far-right-european-parliament). As the power of Nigel Farage grows in regards to his European side whilst joining with former members of French ‘Front Nationale’ and a more extreme viewed Swedish party, the issues will continue. Even though there is debate on Nigel Farage, he sees himself as the person to voice the needs of Britain, a voice Prime Minister Cameron lost when his opposition to Juncker was defeated 26-2. If Nigel Farage delivers any victory for the British people in any way, the powers in the UK will change leaving the Tories very little options in regards to the EEC. Will David Cameron be forced to call an early vote to exit Europe? Perhaps Nigel Farage will have that option as he currently has the strongest options in Europe. However, not all is well in that regards either, now the votes are done, we see a splintering in what was a solid danger. Some are re-establishing themselves and some are defecting to the new Le Pen group. So, not all is quiet on the eastern front with the EEC.

These matters will bring question to any exit strategy we see on the European front. No matter what happens, until the people get some clear information on how the debts are, where they are and how deficits are going as well as their own options, there will be no relief. The party that brings the best story and adds true relief on the hardship the people in the UK currently have will get a massive spike in votes.

I am not sure any exit strategy will bring that, yet, when we consider the response by Richard Branson (at http://www.virgin.com/richard-branson/why-an-exit-from-eu-would-be-bad-for-british-business), my response is that this is not a given either. If we see what some Commonwealth partners are agreeing to within the TPP (Trans Pacific Partnership), then we are seeing how politicians seem to be lining American Big Business pockets, whilst not overly protecting the their own local interests. This will in the end hit back to the UK as well. Consider that these Trade Agreements are not at all discussed out in the open (which makes sense until some point is reached). It seems to me that the UK needs to talk to Australia, Canada and New Zealand at that point. Because not only will the TPP impact the UK, whomever signs the TPP could be in for a long rough spell whilst US and Japan will hunt down a new currency, which is no longer the dollar, but a currency named IPR (Intellectual Property rights). IPR will be the new gold over the next 10 years. Those who have enough of them survive.

This is the unspoken side of the exit strategy. As the EU is chained to the US in several ways, the UK must secure its future in any way it can, yes we must all get rid of our debts, but in equal measure the UK will rely on its entrepreneurs, which includes people like Radomir Szwed, that is the side UKIP is not really talking about and their immigration changes would have negatively impacted the UK.

I remain on the fence on whether the UK should or should not leave, but complete clarity is a must which is a side the press, in all their whining after the Leveson trials have remained awfully unclear about.

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Tagged as big business, David Cameron, Ed Miliband, Emily Dugan, FN, Front Nationale, Germany, IPR, Juncker, labour party, Nigel Farage, Prime Minister David Cameron, Radomir Szwed, reuters, Richard Branson, The Independent, The Telegraph, Tony Blair, TPP, Trans Pacific Partnership, UK, UKIP

May 9, 2014 · 17:20

Public naming

The title seems clear, but hat is linked to all this is not that clear. It all started this morning when we all (those who watched) got confronted with another round of bad news events and all linked to banks. Barclays is scrapping another 20,000 jobs between now and the end of 2016, which might be not that great. However, today we heard that the actual number for 2014 will 14000. That is an entirely different kettle of fish. In addition, the issues with co-op are going on and on which means that the drastic changes there could mean that we see an additional but different change, which will impact many. Although no one is likely to shed a tear when all but one member of the board of directors join the non working class. Lets get back to Barclays though. Here we were told that another change is happening too. Sky News kindly informed us that Barclays might split up in a bad bank and Barclays, moving over 100 billion in assets into that bad bank deal option. So, when a company goes south, they shed the skin, just like a snake and they dump what is undesirable. Is it good business?

This is a thought that, as a non-economist, is harder to answer for me. Is this about top-level bonuses as well as the dividend for the shareholders? If their dividend is not good enough, make a drastic change. That in itself is not bad business, however, the fact that the top people get a deal after the bad bank deal and they still end up with a huge bonus whilst well over 10000 lose their job is not something anyone should consider as an acceptable act, not to mention the issue of where the bad bank invoice ends up getting paid. So again it is a factor of non accountability, the bad choices will not affect these high end bonus getting executives, it seems all nice to those people.

All this was seems to be just a prelude for the small text the people would see, if they read the text-bar under the interviews. The text “the euro commission expects 17 out of 18 euro zone economies to grow“. Really? I had already predicted that the economy would slowly get better, but not until 2015. Yes, the economies might make a little over 0%, yet the damage that still is (like unemployment), would not see any improvement until 2015 at the earliest and the people will not see any real improvements until late 2015, perhaps even 2016. This would of course depend on the nation where it was happening. The only bright light in that segment was the interview with Roger Bootle. He seems to have a handle on the events and as such, his new book ‘the problem with Europe‘ should be an interesting read.

Where is my issue? Well, that is as always a fair question. You see, Euro zone or not, there are levels of interaction here, so as some nations will start seeing improvements to their economy, others would not see those improvements to any extent this year, which is just the way things tend to be. This entire enterprise of 17 out of 18 economies going positive implies that this implies to be management on several scales, as well as the fact that there seems to be a level of ‘bad’ reporting. I will add to this stating that we all should demand the public naming of those commissioners who signed off on such a brash statement when this prediction does not pan out. If these people are so stating that 17 of 18 economies will grow, then we all should know the names of the people stating that as well as get insight into the raw data and the sources. Those involved, when the prediction fails should all get FIRED!

Reasoning? Well, we know where Greece is at, and as such, their economy will be only barely be getting by as austerity measures will keep on having a hold on them for some time. In addition, as many in Europe are in a bad shape, tourism will remain down for some time, which means that this will also remain a non-factor for Greece. Next to that Spain is dealing with a 25% unemployment rate. That would drag down ANY economy. The issues in Italy are still not that good and France is only slowly getting up, but they have unresolved issues. That is just three of the players, which already brings us down to 15 out of 18. The UK and Germany are above the nil line, but as we see the bank issues evolve, that nil line might remain a close call for now. If you think that one bank is not that big a deal, then consider the effect that 15000 seeking a job is going to have and it is not just one bank (or two for that matter). There is a work culling going on all over Europe. When we inspect the newspapers, we see that many are slinking down and many of them are not getting able to get a new job immediately.

Oddly enough, this all reminded me of the title of a science fiction story called ‘How much for just the planet?’. This is at the heart of what we face. It seems that the economies are taking out the people as a factor. In my view, the almighty need for every player to see the economy in a sterile place is like legalising slave labour. How can any economy exist in a vacuum without people? Never mind the 20,000 at Barclays! Spain where we see one in four people without a job and Greece as a nation still scrapping jobs and having hundreds of billions in debts.

Barclays is not the first one to play the bad bank approach, but these elements, these devaluated parts as we saw in 2013 with SNS/Reaal, these all have an impact and writing off these parts without impact is not just bad, it should be wholly criminal. Consider you as a reader own personal situation. Just dump your pet (preferably dog) in the street and walk away, leave your child as it did not read as fast as all the other kids at day-care and never return, or walk away from your mortgage as the house had devaluated for over 15% and the bank wants a huge payment down on the lost value. Do you think you can do any of these matters and not get held to account? So, why are the banks not held to account, moreover, those high bosses walking away in the past usually did so with a 7 figure bonus in their pocket.

So why are we not demanding the same for the euro commissioners, the bank directors as well as, to some extent, the shareholders? They made a ‘bet’, they relied on dividend, but alas, there will be no dividend this year. Adding a bad bank solution, so that they can still get some coin is just not acceptable. If there is a bad bank and it has the write-offs of Barclays, then we should see a diminished value of the bank value and as such, the shareholders, will alas lose out on this quarter (and perhaps additional quarters) dividend.

Why?

Because, as the bank drops it’s ‘assets’, the government (and as such us the poor taxpayers), should not be confronted with the fuck up of others (please pardon my French here). Here I see where what I partially proclaimed in the past, and what the book of Roger Bootle seems to instil is that the UK stepping out of the EEC might not be a bad thing. He does state that it will be a risky thing, but is that not what economies are about? A risk paying out brings wealth and the other does not. I have spoken out against the plans of UKIP in the past, but when we consider these brash statements by the Euro commission, perhaps this path should be explored in all seriousness. Those players are all about keeping THEIR Status Quo, but at what expense? That is at the centre of the issues no one seems to be able to explain. I wonder what happens when we tally the collection of these bad bank acts (all over the EEC) and we take a line of the values and in the end, who had to pay for it all, then take another look at the costs for all those without a job and see then how well these EEC economies are doing. My guess is that 7 (not 17) out of 18 positive economies would still be a really good result.

In this article I made an earlier mention of ‘legalised slave labour‘, I think it is fair that I explain that part. We cannot just make a rambling accusation like that and let it slide. If you are in the EEC and you have a job, then consider the work as you have been doing it for the last 5-8 years. How many of you are now structurally working overtime and not getting paid for it? I am not talking about the odd job where we put in an extra hour. No I am talking about on average working around 45 hours a week whilst only getting paid for 40. The boss is not giving you part of Friday or Monday to make it square with you. No, you hear the remarks on how the job must be saved and if the job is not complete another firm will get it, often enough those bosses end up having long lunch meetings to offset the hours they make. In this economic environment, pretty much everyone is accepting those odds, as they are afraid to lose their jobs. It is simple and plain slave labour. It is also likely that these people have been on frozen incomes for some time. So when we look at indexes like the DOW and see it rising whilst the unemployment rates remain too high, you better believe that legalised slave labour is a real factor. It goes far beyond the banks, when you look at the news all over the UK, the number of messages where a few hundred jobs were shed by almost a dozen companies in 2014 alone is staggering. This is not me judging whether these lost jobs are valid (it is their choice to do so), but the impact on the UK economy is far above negligible, which keeps the UK economy fragile for now.

Those claiming that the workforce got a whole lot more efficient should re-examine themselves. I wonder if those weeks when they are investigated are ‘suddenly’ less efficient later on. Whether these ‘enterprisers’ rely on part time people for half a day, so that those people will not get a coffee break or lunch break, or that the full workday people end up working a little late regularly is of no consequence to the bosses. As the humanity factors have left the workplace, the statement that the economy is growing just more then an incorrect statement, it is flat out wrong!

Any economy depends on people as consumers, as service providers and as result creators. As we look at the implementation of “how much for just the economy?” we now see an incomplete and inaccurate picture.

By the way, if Barclays has used bad banks to write off the value of these assets to NIL, can I please get one of those divisions? Even at 0.1%, the division should be able to make well over 10,000,000 pounds, which is more then I have ever made in half a century. Growing big in small strides is not beyond me and it would allow me to settle comfortably.

Opportunity is where you find it, which is also part of any economy!

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Tagged as bad banks, Barclays, economies, economy, Euro commission, George Bootle, slave labour, SNS Reaal, UK, UKIP

April 15, 2014 · 11:44

Facts, Fiction or Fantasy

It is the elementary consideration of the three F’s, when we look at the information in regards to the Ukraine. It is not whether we give value or credibility of the news we see coming from Sky News, the Dutch NOS, BBC, CNN or even Fox News. There is a side that remains largely unspoken by many of them.

We see the news on how it is written on how these poor, poor Ukrainians are getting pummelled back into the anti-freedom group called ‘the Russian Federation’. Is that actually a truth?

Yes, we all notice on how well organised and well-armed these pro-Russian antagonists are, but are we seeing all the information correctly? Consider that not a few or a dozen people are in favour of these so called referendums, no; the people are out and about in hundreds and thousands. Many are singing their ‘old’ Russian songs and anthems. This is at the heart of the missing information. Consider that we see a lot more US involvement, whilst Kiev is now asking for the ‘Blue Helmets’ (UNIFIL) intervention. These people are about to get more support in 2 weeks, then the entire Syrian nation got in three years. I hope you remember that little escapade. It is still going on and the amount of casualties remain rising in Syria.

So, why are we all up in arms about Ukraine? Is it because some in Kiev want the European values and we are so upset about those who do not want to share ‘our’ way of life? Consider that the news has all been about implying that these acts are all orchestrated by the Kremlin and whilst it sounds really fun to hear about some politician who is about to get his assets frozen, nothing real can be done. By the way, can anyone tell me when the American Politicians or Wall street big bosses got their assets frozen?

The Ukrainian mess is blowing out of proportions in two ways. The first was the start of the Crimea and in specific the way the west and others responded to the events. I will always consider the fact that Russia did have some involvement here to some extent. The reason is that not having their fingers on the pulse whilst there is a massive naval base there is just not an option. They might not have intervened, or they remain silent on actions, but they knew what was going on. It was in their interest to pretend to be the non-observant here. Yet, that story does not reflect on the other parts of the Ukraine. A simple look at the map can tell us that. The Crimea was a military power point; the rest of the Ukraine is not. It is so simple for Russia to stand at a distance as see this all go up in flames and then offer ‘humanitarian’ aid.

The part that western news is ignoring is the shouting of the people that they have had enough of Kiev corruption. In their mind this will only lead to even worse times. Can we even blame them? Look at what the IMF has wrought (not through their actions through), Greece, Italy, Ireland, Spain and Cyprus. Massive debts, then IMF/EU financial support and after that austerity and continues after it started to choke a population. Government administrations get re-elected, no one goes to jail and some end up with a massive amount of money and favours. Is it such a leap of faith that Ukraine, a nation where corruption is such an issue, a place where now its population is just too scared to see what happens next? Consider the news in the last week, where we read that Christine Lagarde stated that the IMF was no longer forcing structural changes (http://www.sbs.com.au/news/article/2014/04/13/imf-no-longer-forces-structural-change). Was that just a small illumination of change as fear is gripping certain population groups? Consider the statement that was given last week that ‘the IMF was a victim of US politics‘, it is enough to scare many people. The statements of the IMF, which were also stated by Australian Treasurer Joe Hockey, that the US seems to be playing their own political games on regards to the IMF. None of these issues were raised, even though it is stated in several sources that the Ukraine is about to receive 9 billion in aid from the IMF. Now, I am not objecting in regards to the aid, yet, whilst it is known by all the players above a certain levels (at least 4 levels below Lagarde, Obama and Putin), that the Ukraine has a history and environment of corruption. None of that is properly addressed, so whilst 9 billion will go to the Ukraine, how much will end up out of the hands of the corrupt? Misreading gas meters, government invoices and the list goes on, how much of those will get paid by the 9 billion? Still wondering why the Ukrainian people are so anxious?

None of these matters are looked at (with proper levels of investigation) by the press, which makes for some of these newscasts a negotiable level of ‘pro-western’ advertisements, making the situation worse.

What the press is unwilling to illuminate, is that at the centre of these troubles are the pro-western politicians. They had no issue disposing of its former president, yet when they themselves are rejected by the Crimea and as it seems by the people at large, everyone shouts foul!

That part is an issue, no matter how many journalists ignore it. It is of course also a nice point of light as well; my income might drastically improve if the cold war is back. There is of course the badge of benefits we see with new movies (like a new impossible mission going up against their old adversary), the video games and in my case more data analyses. All those international locations that would need Palantir Government installed, trained and consulted upon.

Is this the reality? I do not know, the pressure between east and west is growing, so it remains a consideration. Consider however the events in Syria and that red line that was drawn (by the US), nothing happened. Is it because US intervention might get some of their oil benefits revoked? Is Syria not an interesting nation? (Which seems odd, as the pressures there would influence their long-time ally Israel.) So what is the press not investigating and what are we not getting told in this instance?

Consider that when you watch the news tonight and listen to what they say exactly, because you will hear suppositions and carefully phrased implied events, but where were the facts and more important, why are we not getting all the facts? That last one is important, as it turns a fact driven newscast into a work of fiction or even fantasy, which is getting the Ukrainians so angry and bothered.

In the end I still ask the question that is at the centre of this all. Why did the EEC not let the Ukraine be? This is not a statements against dealing with the Ukraine as a business partner, but in the light where the economies are down to such a degree, when the EEC is still dealing with the new partners and the overall debt levels are far exceeding acceptable levels in many of the EEC nations, growing is not a solution, it is a sure path to implosion, which will leave most of the EEC in a destitute state. That part is also seen as the two big national influencers, namely the French ‘Front Nationale’ and the British UKIP. When they do get the referendum to fall in their favour, the EEC will be in a mess that they will not be able to fix. Is the adding of as many nations as possible a desperate act to float the EEC at that point? (That was an actual question I am phrasing myself!)

The last one is likely to be a mere speculation (read fiction), from my side. Yet, considering the steps as we saw the EEC change and grow from 2008 onwards, after economic blow after blow. Now Greece is selling bonds again, whilst at present, their economy is in no way ready to deal with the old debts as well as the additional new ones. Are you still surprised to see the Ukrainian actions?

I am not stating that Russia is in such a great state, but there is every indication that they are not in a bad state either (with massive parts if Europe depending on Russian Gas), add to that, the fact that the Middle East is now diversifying by making Russian arms deals and other deals, which should indicate that they will order less from the west. Cars, electronics and other needs are now more and more moved to Asian makers like China, India, Myanmar et al. Some was already there, but slowly the list of migration is growing. Australia will lose massive amounts of jobs as the car industry moves away (not one brand, but all brands within the next 36 months). We see that airlines are slimming down and as the news reaches us day after day, often just after some ‘good’ news reached us, the balance is not looking good. The west is becoming less and less the place to be.

I do agree that the economy is slowly getting better, but it is also changing. Both have an impact on most of us and I still believe that actual economic improvements are not enjoyed by many of us until late 2015. All these factors are linked, as they are told to all. This is because the Ukrainian people are also watching the news, reading it on the internet and the picture shown is not a good one. So, when they felt that they were about to get the short end of the stick, they all rose up, because the devil you know (Russia) beats the devil you don’t (EEC). That part the big bosses all forgot about and when they applied pressure, they lost the Ukraine. Now the escalations there might not be so much orchestrated, but the stories, as they came from their ‘new’ government is sounding less and less honest in their ears. They want the old days back and in all fairness, can we blame them? Moreover, are the involved nations even happy to add another nation who is on the brink of bankruptcy?

These questions have not been dealt with at all. The last one is one we should all ask ourselves. Why intervene in the Ukraine, whilst politicians have no solution at all for those in hardship and dying in Syria? That issue reflects directly on the people of Jordan and Palestine, especially after a second chemical attack, whether we believe these events to be stories of fact, fiction or fantasy. We are witnessing iterations of ‘the cost of doing business’ on a global scale. It is however the local people who pay the bill through taxation and the Ukrainians seem to be very unhappy about the changes and the bill they will get presented with.

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Tagged as Australia, Blue helmets, Christine Lagarde, corruption, EEC, France, Front Nationale, Greece, IMF, Italy, Joe Hockey, Jordan, Kiev, Lagarde, Obama, Palantir Government, Palestine, Putin, Russia, Russian Federation, Spain, Syria, UKIP, Ukraine, UN, UNIFIL, US

January 17, 2014 · 04:20

Year of the last Euro?

Wednesday’s news on ‘George Osborne lays down ultimatum‘ seems to have remained a little quiet. So, was it all hot air, or are there silent runners under the waterline? The situation reminds me of a poster I once saw. It was a photograph of water, with the by-line ‘Submarine racing, a spectator sport!‘ I thought it was quite funny. Whilst scanning for the latest on this event, I find several people mentioning it, but no real update for a day. The Guardian article was quite informative (at http://www.theguardian.com/politics/2014/jan/15/george-osborne-reform-eu-quits-tory-dismantling ). However, I regard the BBC version of it a little better (at http://www.bbc.co.uk/news/uk-25740462)

The BBC article does however have two items I do find interesting, but they are slightly debatable.

The first one is “I believe it is in no-one’s interests for Britain to come to face a choice between joining the euro or leaving the European Union.” Why is it one or the other? In my view, the only part keeping the EU from collapsing is because the United Kingdom DID NOT embrace the Euro coin. I will get back to this a little later.

The second part is “The 28-member group also had to do more to ensure economic competitiveness with rivals like India and China, he added.”

I feel that the UK could become a lot stronger if the Commonwealth brethren embrace each other as family and as mutual protectors. This means that the UK should become the centre force in group that includes Canada, Australia, New Zealand and India.

In my view, the issue is that Chancellor Osborne is too adamant to sing-a-long with the American tune. I view this like a game of musical chairs. An iteration game of leave one out! The problem is that this game includes one chair that is only meant for the rear end of America, so it will always have a chair to sit on. They should not even be included in this game, but there you have it, for some reason they are part of the EU game.

So let us get back to the first part as promised. The EU (or EEC if you prefer), has 28 nations. In the GDP rankings the UK is at number three. The issue is that the top 7 has Germany, France, Italy, Spain, the Netherlands and Sweden (these 7 are 79% of the entire EU GDP). Only Germany is in a good position, The Netherlands is on the thinnest ice imaginable, whilst Sweden in its economic state seems to remain skating on the ice it has (for now). The rest has gone through the ice and are in a bad place. So, why should the UK risk it all and add themselves to a currency that is drowning itself because the local politicians refused to stop spending when they could, they kept on spending when they should have stopped and now they are in that bad place. Many should be thankful that the UK and Sweden are not part of the Eurozone at present.

In addition, Greece, according to Finance Minister Yannis Stournaras does not need any more austerity (Nov, 2013). Spain stated “The budget is based on a forecast that the Spanish economy will grow 0.7 percent next year, up from the government’s previous forecast of 0.5 percent.” (at http://www.nytimes.com/2013/09/28/business/international/spanish-budget-avoids-austerity-measures.html). Yet Bloomberg noted on September 5th “Spain’s bid to meet its budget-deficit target for the first time in five years is running into trouble, fuelling concerns that increased financial stability is masking deeper economic problems.” So, what is actually happening here? Are we witnessing new waves of creative accounting?

In light of all the bad news, it must also be noted that France is at least still fighting to keep the austerity in place, even though President Hollande is slowly becoming the least popular president in French history. I applaud him for standing firm and I do hope he will not share the fate of Louis XVI (a one-time treatment at ‘La Guillotine’). Italy is for now also on the Austerity track, but internal developments are not good and there are signs that Italy cannot continue the course it currently is going. So out of the 6 (not including UK) one is doing decently well, two are on the edge and the rest is for now in a bad place. This is not the time to switch currency, especially as the UK is slowly recovering, to add their heads to a block whilst the Axeman is spending the night away. It is more than just bad politics to do so.

So, we see percentages all over the place, but in the end, what does it mean? Well, let’s take a look at the numbers (as far as I found them, and a stern warning, the numbers are unverified and not from the best sources). In my defence, the numbers do not seem to be clearly presented anywhere.

Sweden, the smallest and not in the worst state is a little over 1 trillion debt at over 180% of GDP, Spain at 2.3 trillion, which is over 150% of GDP, Italy at 2.4 trillion, but interestingly seems to be at almost 100% of GDP, the Netherlands at 2.6 trillion, however the numbers I found place them at almost 350% of GDP, France is at a whopping 5.1 trillion and like Sweden around 180% of GDP, lastly Germany owns over 5.5 trillion at a ‘mere’ 140% of GDP.

Whatever some of these so called economists are trying to tell you (they are hoping you do not revolt against additional borrowing), the current nightmare is far beyond the issues you can imagine. the populations of Sweden is almost 10 million, the Netherlands is at almost 17 million, Spain 47 million, Italy 60 million, France 66 million and Germany at well over 80 million. You see, in the end, the taxpayer gets to deal with these trillions. So, a large nation might seem safe, but consider France, where austerity seems unbearable and with that sizeable population, the debt comes to over 74,000 euro per person. The average income for a Frenchmen is almost 32,000 euro a year (before taxation), which makes the debt more than 2 annual incomes from every implied French resident. So, when people get angry, they need to get angry at previous government administrations that had spent to such a degree that the current debt is unbearable! (Something I have mentioned in several previous blogs.)

This is also the danger of UKIP! I am against the UK moving out of the EU for several reasons, yet the changes could be forcing the current British government to consider the one step that UKIP desires most, what a mess that will make!

Part of the issue I am struggling with is actually in another article in the Guardian (at http://www.theguardian.com/commentisfree/2014/jan/15/europe-welfare-spending-george-osborne). I do not agree with parts of it, but the article is well written and the writer Alex Andreou does set out his position very well. So, please do read it for yourself. My issues is with “The fact that as a continent we have embraced values of social security and solidarity, a high standard of education and health for all, and dignity in old age, should be celebrated.” I am all for that and I am in favour of that too, yet governments all over Europe (including the UK) have overspend by such a massive amount that cutbacks in these times are extremely painful. I get it, but previous administrations lived under some umbrella with the picture of a sun, which they took as an eternal summer! Instead of caution, they ignored basic rules and just went all out on a spending spree. Now that all the money is gone, the coffers are instead filled with ‘I OWE U’ notes. When every nation spends more than they are receiving, no one will have any money left, yet governments started to borrow to one another. So, those in debt were borrowing massive amounts to one another, even though no one had any money, is no one catching on? This is my issue! I am all for social security, but if we do not have the money, how can we get it done? In addition, Latvia, the newest member of the Euro states (at http://www.bbc.co.uk/news/world-europe-25567096 ) “The former Soviet republic on the Baltic Sea recently emerged from the financial crisis to become the EU’s fastest-growing economy.” Is that so, in that regard we can read the following at http://www.baltic-course.com/eng/finances/?doc=83279 “The state budget is projected to have a deficit in 2014, 2015 and 2016, according to the medium-term budget framework that Saeima approved in the final reading yesterday, informs LETA.” so the newest member already goes into deficit from day 1? This is quoted in the following way in the article “The medium-term budget framework is based on the following GDP growth forecasts: 3.7% in 2014, 4% in 2015, 4.1% in 2016, 4.1% in 2017 and 3.9% in 2018.” so already above the limits as stated by Brussels. Compared to the top 7, the amounts they refer to seem peanuts in comparison (al 35 billion of them), the issue is moving forward and gaining economic strength, not add to the massive debt. As I see it, the Latvians have plenty to worry about and in my view; the UK and Sweden would remain well warned and not join the Euro.

Time to get back to issue 2!

I stated earlier “the UK could become a lot stronger if the Commonwealth brethren embrace each other“. As the issues evolve, the Commonwealth should revert to a new British Empire, but only in an economic way (undoing the work of Ghandi looks wrong on way too many levels). One of the big dangers is the Trans Pacific Partnership. Australia and New Zealand are in my view to eager to add their names to an approach that is all about keeping America in ‘power’! Why do I have this view?

There are several articles, but at http://www.businessspectator.com.au/article/2014/1/14/technology/tpp-trades-us-clout-expense-innovation we see some of the issues that will bug many in the Commonwealth.

The quote that starts to scratch the surface is “in 2009, total patent applications made through the patent co-operation treaty process from applicants in these nations also exceeded those from North American applicants for the first time.”

This is the fear America has, which is why they are so eager to get all the autographs. You see, as I see it, Americans became (or were in the eyes of some) complacent, lazy and greedy (the American industry, not the people). For example, as I see it, the IT industry took a page from the arms industry and stopped true innovation and replaced it with iteration. A disastrous step as you will soon see. The powers at IBM and Hewlett Packard, as I see it, decided to listen to military giants like Raytheon and Northrop Grumman. So, America went from the innovation based, which brought the leaps from the 386 through to the Pentium II, and we ended with iterations like I3, I5 and I7. Newly coated computers, which now move forward in stepwise motion. The issue is that Asia had a huge delay keeping up and this all changed as their comprehension improved, in addition, it is for technology insiders relatively easy to learn the path of an iterative technology. This is the first step of fear as America is now facing it. Asia has its own group of innovators and in my personal view the passing of Steve Jobs took away one clear path of innovation. When Apple moves in that same iterative path, the last true American innovator will be lost! Now Asia has a massive advantage and as such America needs to clamp down on whatever they can, with the massive debt and no clear future path their world will all be about Intellectual Property! The article touches on it with the following quote “But what if the real motive of one or more parties was to isolate, control, enrich, deprive, penalise and stifle? In effect, to put a toll on the drawbridge.”

This is at the centre, but not at the core of all this. That is why we see the mention that India is seen as a competitor, because for America, they truly are the new competitor. That deadly error was made by the American administration in 2011. Forbes tells us about it in http://www.forbes.com/sites/henrychesbrough/2011/04/25/pharmaceutical-innovation-hits-the-wall-how-open-innovation-can-help/. They published it in April 2011. That story shows only part of it. The quote “The patents granted to these drugs last for 20 years from the date of filing, and since most drugs take 7-10 years to get to market, the pharma companies have known that this moment was coming for the last 10-13 years. It is the logical outcome of a deeper problem, which is that pharma R&D spending has been less and less productive for many years.” gives us two parts. One is that there are clear indicators that the pharmaceutical industry has been working on borrowed time. The second is that the ROI has been dwindling down and that these corporations will face the horror of generic medication as several patents hit the end date in 2015. That means in just over a year, the largest maker of generic medication (India, in case you were wondering) will get to have a go at several extremely lucrative prescriptions. Perhaps you remember news messages on how the FDA was so against Canadian medications. I personally considered that entire issue to be a joke, but the underlying horror for America was already there. I mentioned in other blog articles on the issues I have had with the Dow Jones index (‘Start making sense’, 11^th march 2013). Now consider that the three large pharmaceuticals Johnson & Johnson, Merck and Pfizer represent 10% (3 out of 30) of this index, so America is plenty nervous here. Now take into account that these three will have several expiring patents by December 2015 and that means that within months India could have a quality generic alternative, which is likely to be more than 70% cheaper. Now, be aware that a generic medicine is often less effective than the original. Still, the price difference is huge. It is not just the US; the UK has its own share of pharmaceutical makers, so the knife does cut in two ways in this case. Still, when we need to cut back again and again, India could be a good thing for the Commonwealth at large. So, even though some see the TPP as an option, there is implied evidence that the TPP could strongly block innovation.

How does this link to the Euro? No matter how we twist or turn it, the hard times America will face as it has been facing them for the last few years will intensify as innovation remains absent. That will hit Europe in several ways. The Netherlands already saw that as Merck shut down activities like Aspen Pharmacare. The intertwining of corporations on that level are all over Europe, and as such as American Pharmacies are hit, their European links will suffer a lot more because of it. So, yes, India is a competitor there, but the UK together with Canada and Australia could look for a cooperative solution with India and not see them as the competitor (as America currently does).

So is this all linked to the end of the Euro? Yes! It does however depend on the actions of the UK. If is stops membership, the run on the markets and the panic Germany faces could be catastrophic for the Euro, especially as Germany cannot rely on the pillars named France, Spain and Italy. The other nations are either too weak or too small.

Could George Osborne be wrong?

That depends on your point of view and your allegiance. The latter is implied as I noted the reference to the musical chairs with the one reserved seat. News messages like “the call to end austerity by ‘insiders’ from Brussels”. Yet, in the other light governments must reduce their spending and they need to get clever about it fast. The UK non-working military recruitment solution at 1.3 billion is just one clear example. Pretty much every EU country has its own skeletons. I see that the UK could be stronger as the Commonwealth nations take a route of preference to strengthen their economies, it is clear that such a path in Europe would remain stagnate until late 2015. That does not make George Osborne right, it only means that a European route might work, however it will be a long term path and switching to the Euro (at present) does not seem to be a stable solution for the UK to implement.

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Tagged as Alex Andreou, America, Aspen Pharmacare, baltic-course, BBC, Canada, Commonwealth, France, George Osborne, Germany, Geroge Osborne, Guardian, Hewlett Packard, IBM, India, Italy, Latvia, LETA, Merck, New Zealand, Northrop-Grumman, NY Times, Pfizer, President Hollande, Raytheon, Saeima, Spain, Steve Jobs, Sweden, The Guardian article, the Netherlands, Trans Pacific Partnership, UK, UKIP, Yannis Stournaras

October 17, 2013 · 16:16

A new third World continent

At the final moments we see the news that in the 11th hour an agreement had been reached. Should we be happy? For now many will be happy, for now the Financial industry is relaxing and happy that their rent is safe, but the stress will return soon as the next ceiling will be reached in another 18 weeks.

So what is wrong with the USA today?

It sounds all fun and games to blame either the Democrats or the Republicans, yet overall, both have some level of guilt. Yes, at present the Democrats are wearing the hoodie of blame and shame, but the Republicans are not without issues either.

Consider that the government has maxed out the USA credit card. They have until now REFUSED in any way to take responsibility for the utter irresponsible spending. No, taxing more will not solve anything. That story is old, stale and redundant. If America would like to be taken seriously ever again it would have to cut no less than $350 billion in 2014. So, NOT more taxation, but LESSEN spending. That means if all was equal that every American will get $1000 less in support, which means that it would not impact the top 3% of the nation, but the others will have to pay. This is not me supporting the rich, this is me placing ALL politicians in a limelight where every spend dollar will be shown in the spotlight.

The Democrat story will be that they have a solution, and if these people pay just a few dollars more than….. It is nothing less than utter Bullshit! (Pardon my French!) With a debt of 17,000 billion dollar, a budget drop of 350 billion would mean that the interest of the outstanding debt could not be paid for.

On the other side, the Republican side will have to stop this ludicrous boast of less taxation. That is not, cannot and will not be a solution (for at least a decade). The debt must go!

But there might be a solution with the UN. When America has been diminished to a third world nation, then perhaps the UNDP will offer support to the USA. I know, the irony of it all, go figure!

I have remained in favour of the US remaining strong from day 1; however, the Democrats refused to step up to the plate to do what needed to be done. The Republicans had stepped up to the plate, but in hindsight, the result was almost nil and they have not endeared themselves to anyone.

The voiced speeches by the Democrats as they are shown on TV stations all over the world today seem to be in bad taste too. I will make an exception for Democrat Harry Reid from Nevada. He had been in the middle in of what might be called a ‘small hell’. If the Navy Seals are used to be between a rock and a hard place, then this man outclassed them to several degrees these last two weeks, as a Republican minded person I will admit to that. I will go further to say that should Harry Reid go for the oval office, then he stands a chance to convert a decent group of Republicans too. Values like respect and moral coming from Nevada? What a tangled web we see!

For many non-Americans it is not about the pure Democrat versus Republican fight, it has always been about the massive debt and the risk they push upon many other nations. It is even a case that the voice of many non-Americans should be heard. When a nation like America has so many corporations that operate their business outside of the USA and as such put hundreds of thousands of workers on the spot as their futures are linked to the status of the USA, then they must realise that accountability remains an international factor.

On Sky News there is a hilarious movie, shot in old fashioned silent movie style explaining the debt ceiling. It is fun to watch and it tells the story nicely (at http://news.sky.com/story/1155554/shutdown-senators-pass-bill-to-avert-default), I do however disagree with one part of it. At 1:53 Ed Conway states one part I do not agree with. “If America was to default, it is not because it cannot pay its bills. It is because their political system would not allow it“.

That is the part that has been my major issue!

It is what I disagree with. If we consider the T-Bill rate of 2.66 (as it was this morning), to get the 16,700 billion in debt, to pay it back, if it was all in T-bills, then the US had to pay an additional 444 billion dollars in ‘fees’. This seems very very little. However, this was not done in one day; it was over many many years. The problem is that as risk grows, the people will be offered a higher return, because if the debt cannot be paid, those bills will become null and void overnight. In the end, that money must be paid and overall, even though for now it is paid, the outstanding debt as it grows and grows, will mean that the chance of EVER paying it all back will become less and less. Consider that the following amounts are due: 2022: $1276B, 2021: $1228B, 2020: $1652B, 2019: $1885B, 2018: $1017B. So from 2018 onwards, the returns will have to be paid to those T-Bill owners. The amount will be in access of 1 Trillion dollars a year. Can anyone explain to me how that payment can be met 5 years in a row whilst the on average the collected annual taxation in 2013 will be an estimated $1.9 Trillion dollars? This means that from 2018 onwards 53% of all collected taxation will go to people owning T-bills. How unrealistic a goal is this?

This is part of the reality politicians ignore (as they will not be in office when it happens) and the people who gets settled with the bills will not have anything left.

Consider in addition that the Tax evasion bill has not been pushed into effect (which means the rich will continue to have additional tax shelters this year) and the Dodd-Frank Act is STILL not active, giving the financial sector too many non-accountable freedoms (which will make sense late on). If you want to know more about the Dodd-Frank Act, take a look at the next link, it has an interesting cheat sheet on the latter one. (at http://www.mofo.com/files/uploads/images/summarydoddfrankact.pdf). Morrison & Foerster is a global law firm. It might have been for internal use, so send them a thank you note if you download it. It is the easiest read in regards to this topic I have ever seen. They also have Patent and Trademark litigation, so I should send them my resume when I get my MIP after my next semester. Cool!

If you wonder about that reasoning after my strong voiced disgruntlement, then remember that the US is a great country. In my mind it was sold down the drain by politicians and exploiters. If we muzzle the first and neuter the second, the US could be a great nation quite quickly again, which would be good for Europe too. A win-win solution I say!

So why aren’t more people nervous about the entire deficit and debt ceiling? That is the part that does not make sense to me. Rolling over debts is a dangerous habit. The definition is clear enough, the dangers on adverse percentages is even more risky as politicians played 11^th hour resolution makers. The second part is one that many more are ignoring. This is all based upon 100% of the due payments rolling over. What happens when another nation has a slightly stronger return? What happens when only 80% is sold? Is that such a hard concept? So at that point, where will the required $200B-$275B come from, additional raise of the debt ceiling? I have no actual facts to work from, so I do not know what the level of risk is, but consider that between 2018-2022 no less than $1T in investments are needed, and that the larger wallet friends (like the UK, FR, DE, IT and AUS) many of them at the maximum tapped out amount. How long until THEY (read governments) start the ‘swap’ game? Is that not how we lost most of what we had because we could not control the banks, now we let them advice on the same game, but now with full government budgets? So, we will not be looking at just a few trillion, when that game goes bust (and such a game always goes bust), the population will be stuck with a bill between $70T and $90T. How will we survive that?

Let us not forget that all those actions are taken in closed rooms with only a few insiders fully in the loop. If the next election causes reasoning for full disclosure on such events and only a referendum will allow for this, then the game will not just change fast, it will leave the USA on the outside looking in. A fact is that this risk grows almost exponentially each year the deficit is not dealt with. If Germany has been under pressure for the EU issues from Bernd Lucke and the UK from Nigel Farage from UKIP then we should expect additional players who will be fueling these fears. The upcoming price fight might not yet be the main event, but the debt ceiling issue that comes after the one on February 9^th will be a main event and it will likely involve more players then just the US, several of them are unlikely to be one of the 18 Bernanke disciples.

So here we are, and only hours after Jill Treanor wrote her article ‘Financial Conduct Authority launches currency markets investigation‘ on the Guardian at http://www.theguardian.com/business/2013/oct/16/financial-conduct-authority-currency-markets-investigation-benchmarks.

This is a must to read!

Guardian’s Youthful Young City Editor, all complete with her own copy of SAS Miner plugged into her brain started today with “Suspicions that the vast global currency markets may have been rigged by major banks and traders has sparked the City regulator to launch a formal investigation into the £3tn a day market.”

This goes way further than just the LIBOR scandal. Earlier this year I had some doubts on all of this. My doubts were not on the interest part; my thoughts were that the main amount involved, which the percentages were based upon had also been tampered with in some way as well. I still expect my $1T bonus when that gets to be proven!

So what if the benchmark is not JUST the foundation, but part of more. You see, if we consider that governments have been involved in T-Bill Swaps, then the tradeable amount involved is not correct. More precisely, if the volume of T-Bill swaps is to the amount deficits go, then in which direction are the percentages rigged? It might accidentally involve the ‘accidental’ mentioned group of larger wallet friends. Now consider that Germany at present is the only one with an economy more on the stable and positive side then all the other players. So, would there be additional benefits for them in the long run? I actually do not know this (self-confessed lack of economic education), but the fact is that these issues go far beyond the banks themselves. Perhaps that is why the Dodd-Frank Act was never activated? It is just a thought.

So my advice for today, instead of long term investing your $5, this morning, have a pastry with your coffee, because at times there is nothing better than short term gratification and pastries will usually do the trick.

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Tagged as America, Bernd Lucke, D-NV, debt ceiling, Democrat Harry Reid, Democrats, Dodd-Frank Act, Ed Conway, Guardian, Harry Reid, Jill Treanor, Morrison & Foerster, Nigel Farage, Republicans, SAS Miner, Sky News, T-Bills, UKIP, UNDP, USA

October 2, 2013 · 12:31

About the Miliband Family

This morning as conservative, in opposition of the current Labour ideal I see no other option but to stand next to Ed Miliband as a son of a father, to stand behind him in support and stand in front of him as a shield in regards to this attack. What I just read on the internet, after seeing the news on Sky News is just too disgusting. I personally will never have too much respect for the daily mail and the assault on a person who has already passed away, just to get to someone else. Ralph Miliband, a person who served for his new country against Nazi Germany, who stood there, serving and fighting to keep the British Empire save is just unacceptable. Why? Because he believed that Marxism had the answers? Of course we cannot rely on the Daily Mail to know all this, as I reckon their viewpoint comes from a day and age when the Black and White TV was no longer there, a post radio tube era! Why is this important?

Well, many in England had not lived through those early years. In Belgium and the Netherlands in the years post WW1 life was hard. Workers in those days were there to work themselves to death for a chosen few, who would exploit people again and again. The sad part is that current events are bringing this age back and it does not scare enough people (I will get to that evidence soon enough).

The years in the Netherlands and Belgium between WW1 and WW2 were hard ones (not just there mind you). Books like ‘op hoop van zegen‘ ([translation] ‘Trusting our fate in the hands of god‘) by Dutch writer Herman Heijerman shows the exploitation of Dutch fishermen as they are forced into the sea in unsound ships. In the end people die and the owner would pocket the insurance money. It was Herman Heijerman’s socialist view on the capitalist system. For those not having faith in these issues, remember 2008, whilst the bulk of the western world is still reeling from that ‘Wall Street cabaret‘. The Dutch also had events post WW1 in the east of their nation in an area called Twente, where the Textile industry collapsed as it was confronted with the competitive practices from Japan. Belgium had its own issues and in those times Adolf Hitler came to power and soon after started his European tour (1939-1945). So Ralph Miliband, this Jewish sociologist was lucky enough to flee the horror that would hit Belgium and went to England. To be quite honest, at times it is unfathomable that Marxism did not grow as strong as it could. When the bulk of a nation lives in absolute poverty in the service of a small group of silver spoon people, that consequence would today seem like a given reality.

So, Ed’s dad, Mr. Miliband, a person with Marxist convictions ended up in England and served with the British Navy against Hitler. Whether he was there to protect England, or to fight Hitler, or even both does not matter. In the end he served like so many others and ended up as a CPO (chief Petty Officer).

After that he became an academic. He did not become an anarchist, a terrorist or an anti-social. No, he became an academic and a sociologist. It was all in a time before I was born (such is life). So the paper that attacked the Miliband family was actually (at some point) sympathetic to Oswald Mosely and the British Union of Fascists. Interesting isn’t it? Their ‘Hurrah for the Blackshirts‘ didn’t last long and in that regards it is important to read the ‘Greenslade Blog‘ in the guardian, specifically, the one that was written in December 2011. (At http://www.theguardian.com/media/greenslade/2011/dec/06/dailymail-oswald-mosley). It is an excellent read, showing in addition that the Daily Mail was not the only player in town. The Daily Mirror was on that same horse (that strange Mr Daily and his newspapers, right?) The evidence is clear that both had changed their tune before WW2. What does remain that Mr Miliband’s view was shaped by harsh events in Belgium. The Netherlands had its own ghosts. In Amsterdam in 1934 there would be a workers revolt and in the end under Dutch PM Hendrik Colijn, a harsh response was given against the revolt and in the end the police and military would shoot into the crowd. 5 people died. This event is talked about in a book by Harry Mulisch (the Assault). The son of a NSB agent in that book states ‘My father was ordered to shoot into the crowd of workers. He would never allow for that again.‘ With that he explains his father’s move to National Socialism. The NSB were not the good guys, but the sentiment voiced in several in these books reflect the sign of the times in both the Netherlands and Belgium. I believe that Marxism grew in that same environment, in an age of much injustice and imbalance. So when Mr Miliband escaped that environment, is it a wonder that he would favour the far left, Marxism and/or Socialism? His view as an academic should not be attacked. They should be heralded. He voiced certain views and let us ponder those views. I see that this approach shaped his son Ed Miliband and his son saw the wisdom for what it was and ended up a lot more towards the centre of the left wing. The generation that followed Ed’s dad is like I was, we believe that the wisdom is more to the balanced centre. Me to the right of it and Ed Miliband to the left of it, together the system will remain in balance (as long as we can keep UKIP out of that equation for now). I spoke earlier about returning times. We see now that the retirement age will shift. Meeting financial ends is getting harder and harder. Companies in the Netherlands are now advocating reduction in pay and overall working conditions will hit hard times for years to come. Labour has always fought this (not always in the right way). But I believe with utter conviction that opposition politics is the only way to keep things for the most honest and fair.

So as we end this small piece with a few additional thoughts and a request. The fact that Ed’s dad fought for England is a fact. He must have been good as he ended his service as a CPO, not a rank easily achieved. He ended up with a degree from the London School of economics and even though he was not a conservative, he was a devoted academic. He put his words to books and got 7 of them published. So a man of thought, whether we agree with them or not, they are regarded as distinguished works. If wisdom comes from the past, then the Miliband family contributed to the British Empire (I love the old names), something that a person hating that nation would never do. Finally, there is a book ‘Newman, Michael (2002). Ralph Miliband and the Politics of the New Left.‘ there is a little more at http://monthlyreview.org/press/books/pb0866/ it shows from other sources that the Miliband family contributed to the evolving English way of life. Books that end up on the shelves, unlike the daily Mail that ends up at the bottom of a budgie cage the day after if it is lucky.

Now for the small request to you the reader. Some will agree with the Leveson report (I do), some do not. I believe the article about Mr Miliband to be in really bad taste. This was not about ‘the right to know‘, I see this for what it was, a personal attack on the son of a deceased academic, who is patriotic and who cares about England. In my personal mind, on the wrong side of the isle ;-), but we can’t have it all, can we?

So, if you agree that the attack on someone’s dad, who had already passed away and has no defence against what is being done to him, then this coming Saturday, please DO NOT buy the Daily mail. Buy any other newspaper. The Guardian, the times, or whatever paper you buy. Let us all send a message to the Daily Mail editorial that some things are just not cricket!

Have a lovely day all!

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Tagged as Belgium, Daily Mail, De Aanslag, Ed Miliband, England, Greenslade blog, Guardian, Harry Mulisch, Hendrik Colijn, Herman Heijerman, Jewish, Labour, Leveson, Michael Newman, Netherlands, Op hoop van Zegen, Ralph Miliband, textiel, Twente, UKIP

September 23, 2013 · 13:31

What lies beneath!

Today is the day we get to take a look at those who get and those who did not receive an Emmy. This is a remarkable year for it. Not because of the winners and non-winners, but from my personal view on the quality of TV shows. There was little way for me to predict the winners in this year. This is not a year where there is a clear winner. They were so many amazing shows and some of them blew away their own fans. So whether we cheer for 30 Rock, Louis, Nurse Jackie or Glee, or even all of them. 2013 shows that the audience won in a very big way. If the bad economy brings out creativity then no one can afford to miss the 2014 Emmy’s as true creativity is just around the corner.

Talking about the economy, is there any news? Well, today, not unlike the Emmy’s the UK is facing issues like vetting the spending by labour, Ed Milliband does not tolerate backstabbing and George Osborne is facing Scepticism over the multi-billion pound sale of Lloyds Banking Group.

So as we are in the sphere of the Emmy, considering that soon there will be the Tony for theatre and the BAFTA and Academy awards for the cinema, here is the Churchill Award. This golden statue shows us Churchill in a thick winter coat and a cigar. Like the image we had of this great man during WW2. We should not confuse the statue with a Hitchcock or any other drama figure. Here we ‘award’ the politician.

So in good standing, the Churchill award for political events goes to (wait for it)……

Nigel Farage of UKIP!

Surprised? Angry?

Let me elaborate. I am not on his side. I remain for now a conservative. Yet, when we watch the news in triviality, where not unlike the issues in Australia Labour seems to be in power struggle after power struggle we wonder why we should support a party where the bickering of being in control takes so much energy and time of a party. Now I am all in favour of a Milliband labour with the bedroom tax gone. Yet, how will certain measures be made with a trillion plus in deficits? Similar warning in regards to the squabbling was reported by BBC’s Justin Parkinson as he recouped the words by Dave Prentis.

The second player, ‘my’ preferred side David Cameron was accused of bringing back more of the ‘nasty’. That is not a bad thing (still highly uncomfortable). I agree that costs have to be cut, yet for now he has not gotten a hold on their spending. In addition his peer in parliament George Gideon Oliver Osborne, Chancellor of the Exchequer did not help much. Yes, on his watch the economy is slightly better. However, if we give weight to the Guardian (http://www.theguardian.com/business/2013/sep/22/first-signs-recovery-despite-austerity-george-osborne) it was not his victory. William Keegan has his ducks more than just in a row and as such this article has weight. Still, the UK could have done a lot worse. Heavily against the conservatives is the Welfare Reform Act 2012 (aka bedroom tax). I always thought of this as a bad move. Especially, in a time and age, where the UK housing shortage is massive and no one can afford to move or change apartment. Nailing these people to their empty bedroom (or cupboard with bed) is just not the way cricket should be played.

So we see the winner Nigel Farage. I consider this man to be dangerous. His ideas are out there and the consequences of moving away from Europe will hurt the UK economy in ways we still cannot foresee. Still the idea of a flat tax approach has merit. When we consider the Stemcor’s of the world (or in this case, just the UK) the umbrella options and other small little twinkles that give the wealth more deductibility’s then the average welfare person many wonder. The fact that he gets stigmatised on matters seem to work positive for him as well.

Still, the plays he plans should he ever get to number 10 will hurt the UK in ways many of his voter will not realise until it is too late. He speaks to those losing much, to those in economic hardship, ever willing to blame anyone else, even if no one (bankers excluded) is to blame.

The man has the charisma and he has the drive, people react to that and in the end, all sheep plenty and few will follow the herder that gives them the best music (even if he is sitting next to a blowing volcano). If the others do not change their ways then my initial prediction from my previous blog (at https://lawlordtobe.com/2013/05/04/ukip-or-u-k-i-p-ur-kiddin-i-presume) will come to be true. Labour and Conservatives on the same opposition side of the isle. That would be one hell of a show to get tickets to.

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Tagged as BBC, Bedroom Tax, Chancellor of the Exchequer, Churchill, Conservatives, Dave Prentis, David Cameron, Ed Milliband, Emmy Awards, George Osborne, Justin Parkinson, Labour, Lloyds Banking Group, Nigel Farage, Number 10, Stemcor, UKIP, Welfare Reform Act 2012, William Keegan

July 5, 2013 · 13:18

The Euro coup is coming!

Good morning, so I got your attention? Excellent!

The first question, is what kind of coup of course? What is forming at present is an international alliance of parties. The parties at current seem to be the British UKIP under leadership of Nigel Farage. From France it is Marine Le Pen from Front National, Geert Wilder from the Dutch PVV and there is every indication that Bernd Lucke from Alternative für Deutschland (AfD, meaning Alternative for Germany).

Initially this situation was a non-option, yet the change with Front National where Marine Le Pen is a lot less extreme then her father Jean-Marie Le Pen makes this now a negotiating political force where the extreme is negated for a slight diversion towards the middle ground. There is also a change in messages. Where the French FN was initial strongly anti-Semitic, their new message is all about pro-France. It seems that the daughter Marine learned that lesson of gaining through honey instead of vinegar (you know the expression). Does this make them less anti-Semitic? That is indeed one of the questions. This alliance is all about parties getting stronger in forming and speaking their local language and population. As UKIP has a strong desire of a referendum to move the UK out of the Euro zone, the German AfD is all about moving Germany out of the Euro-coin. There are similarities, yet they are not in some given unison.

That makes this alliance somewhat unique. This is all about a team promoting their personal needs, not a common need. It is a slightly rare occasion. Yet, we could see a disjointed form of agreement. They all seem to promote their forms of economic protectionism. That part is interesting, as that could be a multinational move to get these banking issues under control. It is one option for the banks to give some Euro BS story to stay non-accountable, yet it is another problem when political parties start making these venues an open target where the bank is a free for all. I reckon that financial institutions did not reckon on these complications. If we accept that FN, UKIP and AfD are all three strong in that regard, then whatever happens in the bad bank moves would have to happen before those election become fact, because the changes might make the bad bank a non-event and leaving the debts where they should be, with the banks who caused this and not with the tax payers (and that would make you and me very happy).

I left PVV out of this because they are a slightly stronger wildcard in this equation. Like UKIP they are strong voiced about moving out of the EU. That approach is not unrealistic, yet the Dutch economy is strongly dependant on the German economy as whatever is created in Germany gets shipped via Rotterdam. The German Steel regions have a powerful grip on things, and that works as they have an efficient economy track via the Netherlands. UKIP has its reservations in regards to the Dutch PVV, because of the strong anti-Islamic views the PVV holds. Nigel Farage has mentioned that he could not accept the view on forbidding the Quran. One can agree on many levels, especially as this is a form of censorship and discrimination that is not legal in both the UK and the Netherlands (the law can be so easy at times). The AfD is another matter; they are mainly Euro-critical. The danger is not unlike UKIP. They were ignored and now they are about to become the ruling party. A fact that remains unknown until September 2013. What is interesting, that at present the party is not even listed as a possible contender against the party of Merkel or her opponents. This is wrong on a few levels. The fact that all these economic heavyweights are striking out against the AfD on how dangerous this move is, is one thing. the fact that these ‘experts’ like Marcel Fratzscher who was formerly the head of International Policy Analysis at the European Central Bank or Jörg Rocholl who as a professor holds the Ernst & Young Chair in Governance and Compliance are currently speaking out against their academic peer Bernd Lucke is quite another. Yes, sounds like the banks stay right away from this one. They all seem to forget that the people vote, and these people see their money go to all these places of ‘feigned incompetence’. I am all for helping my neighbour, yet I see less issues with saving him as he starts a BBQ in his living room to stay away from the rain and then panics as his house is on fire because the children kept on knocking things over in the living room. Such a parent should go to prison, plain and simple. So when I state that the AfD could become a massive player, I am not kidding. That means that Germany could face its own referendum in 2014 to move out of the Euro. Because these governments, as I mentioned in previous blogs have been so busy with ‘managing’ bad news, they forgot all about the people receiving these adjusted levels of bad news.

Next there is the French FN (Front National). Under Jean-Marie the FN was largely ignored, they were too extreme, so not many votes would consider this party under past leadership as a serious political player. His daughter is much less extreme and Marine Le Pen seems to be more about bringing the pro-France message then any anti-whatever message. This makes her the new player to note. As she advocates a “grouped departure” from both the Euro and the Euro zone, in addition to her less extreme views make her an interesting bedfellow for Farage and Lucke. It can be debated that FN could have had a much larger slice of French politics if Marine had been in charge earlier, yet, only now, as the economy will have longer shortfalls and more issues would any future election give her additional votes.

Considering UKIP and their likely new shaped alliance! How should we see them? Are they the disruptive element in the European order, or are they the patriots fighting to keep their nations safe? If we see the Banks as the current breakers of national economies then they are doing the opposite of what needs to be achieved in the views of the banks. In all fairness of it all is that the EU is more and more a failure. Those propagating its success have not been able to correct the budget shortfalls of hundreds of billions a year. New nations are offered a place, a handshake and a new credit rating (see Latvia), then even whilst its population has a vast majority against, the Euro gets pushed in. Now even more nations are added, and several of them in not such a good economic stable position, and they all get the new Euro Platinum Credit card. In that light their views are adopted by their own voter community faster and faster, meaning that this new ‘alliance’ will ensure massive changes.

Whether these parties will bring a better future for the nations they fight for? I do not know, what I do know is that dumping billion after billion into something to get the economy ‘started’ has not worked for years, and other ideas are needed. Perhaps I could be voted in as the new Executive officer for the Royal Bank of Scotland? I cannot prove I would do any better, but I can guarantee that I would not be any worse. In that light, that 20 billion they just found? How does a bank just find 20 billion? What else did their systems not notice? http://www.guardian.co.uk/business/2013/jul/03/royal-bank-of-scotland-business-lending-review If you wonder how these two are related (politics/RBS) then consider that these parties are growing as the European economy stays in this bad shape. The stronger the UK economy gets, the stronger interest of all nations to relocate legally or in other ways to the UK, so as the UK now suddenly has 20 billion extra, that interest will just spike. I am still wondering how 20 billion remained unnoticed. If several nations have been playing a game of ‘bad news management’, then what will be the effect of such good news? If you do wonder what 20 billion is, then consider that this ‘found’ money covers twice the amount all tertiary education needs and didn’t they have to up the prices there?

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Tagged as AfD, Bernd Lucke, economic protectionism, euro zone, FN, Front National, Geert Wilders, Guardian, Jörg Rocholl, jean marie le pen, Marcel Fratzscher, Marine Le Pen, Merkel, Nigel Farage, PVV, Quran, RBS, UKIP

June 22, 2013 · 16:57

What is an economy?

Yesterday we saw all kinds of movement in the markets. The start of this was a violent sell off in almost direct answer to a message be Ben Bernanke (Source: http://www.guardian.co.uk/business/2013/jun/20/stock-markets-violent-sell-off ). It is a name that ‘shines’ to some extent when we watch the movie ‘Inside Job’. Mr Bernanke has been involved with the Federal Reserve for over a decade and has been the chairman of the Federal Reserve since 2006. Bernanke’s message that started a whole lot was to end QE (Quantitative Easing). Is it wrong? That is the debate that many want to start, yet we are currently in a phase where this approach to bond buying must stop, the question is not just why, it is also current to ask why not sooner, or why would this have such a strong effect on global markets to this effect.

Does this event show that the US is actually getting stronger, or is the rest of Europe’s so much weaker? My initial voice goes to the second part and I will explain why. If we consider the outstanding debts then we must agree that the US remains now and for some time to come on the utter brink of bankruptcy. The total US debts are well over 120 trillion (almost 17 trillion national debt), which is so much outside of the reach of repaying for a long time to come. There is the valid question why the US should support Europe to the extent it is doing at present. Europe is so not getting a handle on their spending and many nations are showing more and more delay to getting it all under control. This is not just fuelling UKIP and the reason that the UK population is more and more intent on leaving the European Community, parties within the US are validly asking, why are we paying for all this? As the US pays the IMF and they keep on pouring money into bottomless pits like Greece, more and more are asking questions as to why this should continue.

It gets even better. If we add the sums of payments by the different parties into getting the economy going (jump starting was the label they used) , we end up with an amount well over the sum of all outstanding mortgages in US and Europe. So if we consider that amount, then consider the option of paying of the mortgage of EVERY household making less than $70K. That amount would be less than the amounts paid to get the economy started. In effect, no mortgage means that people would be spending money everywhere and the US (and also the European Community) would have an economy that is up and running.

So as Ben Bernanke stops QE and as the US is buying back the outstanding bonds the markets will not suffer, but they will reflect the poor position everyone is in.

If we see the past of Rothschild we see: “Amschel Rothschild’s (1773–1855) definition of economy saw this as financing national projects such as wars, goods and infrastructure”. Economy would be defined as a national economy as a classification for the economic activities of the citizens of a state. So our view of economy (you and me in general) sees this in relation to the citizens. As such, the US economy is seen as extremely poor as one out of six lost their house; one in ten had no job. This has now improved to one in 12 (which is really not that good yet), yet the overall considering healthcare (or lack thereof) and other topics mean that the economy is not yet in a state of health. It is only barely starting to be on a road to recovery. The Federal Reserve is considering that dropping QE would enable a stronger wave of recovery. Is that wrong? When we read about the economy in many places, and how much better the economy is doing, we feel we are being lied to, yet, is that true?

that point of view only hangs on what the definition of economy is. In a global market where we look on how corporations are doing in their markets we see a definition devoid of citizens as they only consider the consumers. I think that their definition is wrong, yet it is not incorrect. Many of us seem to look with at the same picture with wrong (different) standards and values.

If the market drops (as it did yesterday) because these sellable items are no longer there, then this is another matter. If a shop loses one item and it drops to such an extent, then we see evidence that are (or have been) living for the most of the ROI of one successful item. Today’s message on the Guardian (source: http://www.guardian.co.uk/global/2013/jun/21/global-markets-stablise-crisis-euro) only gives strength to my views. It shows on how Greece needs another 3 Billion, how can this continue?

The article shows the following quotes that are important for the next part: “EU leaders in Luxembourg are holding a day (and probably night) of talks to create rules that force losses onto large savers when banks fail.”

So like Cyprus, those who saved money for their retirement will see it dwindle? Because in Cyprus those over 100K Euro lost a bundle. After working up to 45 years, their retirement all based on joy of working hard is getting cut because no one has either the guts or the insight to actually deal with the banks and the governments behind these events?

Sweden’s Finance minister Anders Borg emphasised on the dangers of those moves. Also stated in the article by the Guardian was “A draft bill has suggests bank shareholders should suffer first, followed by bondholders and then savers. A new fund could also be set up to oversee new tighter rules.”

Now, I get the shareholders suffering side of this. When you invest in shares, you invest in risk. Yet the one part that needs an overhaul, the banks and their board of directors are still not properly dealt with. So whatever draft will be created on dealing with banks and their path of recovery is still not laid out in full. However, with the promotion of bad bank separation only gives pressure on taxation and tax payers. Who wants to live in such an environment, where what I see as unacceptable levels of risk-taking remaining undealt with. To me it seems that it is more humane to legalise drunk driving as that will only kill of a few people, the fact that banks and risk-taking financial institutions can dump these levels of risk on a population group many times the size over is just absurd.

We see all these ideas and patch jobs, yet the instigators of the harm we witnessed since 2004 keep on getting a pass by ‘the deans of industry’ to walk, talk and deal wherever they want. Especially after Cyprus, where we now see the legal proposals to force losses somewhere, seem to be less vocal on jailing the board of directors of banks when these levels of loss become visible. They apparently did not break any laws. If being drunk in traffic is no defence in court, how can irresponsible short-sightedness in financial institutions be legal? This level of high stakes poker where losses are not punished and winnings go to the individual must stop. In that same regard where the European Community (EC) is adding nation after nation, and when these places start to overspend as banks and politicians that the EC stamp is a free for all for name and fame making is short term and the outstanding debts are all dumped on the tax payers in the end. Perhaps it is no longer about saving failed banks. Perhaps any failing bank should be nationalised. The members of the board are investigated for negligence, whilst their belongings are sold at auction and they are scrapped from the banking and financial industry where they may never work again on any level of authority.
Yes, I agree this is equally an overreaction.

Yet, currently nothing seems to be effectively done. Greece remains a slice of evidence in that regard. It is nice for the Greek population to blame others (especially Germany), yet these levels of non-control into the Greek debts come from Greece. It is their own previous government being so utterly irresponsible, not to mention some of the financial institutions who were residing there. From Bloomberg this quote came: “Let’s begin with the observation that irresponsible borrowers can’t exist without irresponsible lenders“. There is logic in that statement. Can we however also mention that Goldman Sachs had given the assistance to hide the levels of Deficit in Greece? So there were more elements in play. Perhaps, when the Greek banks do go into a toxic bank solution, they should consider adding their entire Greek mortgage portfolio and add that to the bad bank. If you truly want to start an economy, taking away their fear of homelessness will go a long way. Especially when the monthly mortgage could then be spend on items that truly jump start an economy.

When nations and conglomerates are talking about the economy, then you should ask them ‘what is YOUR definition of an economy’. It is the same issue as companies hiding behind revenue. Revenue sounds nice, but the reality is profit and contribution. It is what is left after the costs are removed. You will see that many places are not in a good position and they are not getting better any day soon.

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Tagged as Anders Borg, Ben Bernanke, bloomberg, Cyprus, Federal reserve, Germany, Goldman Sachs, Greece, Guardian, IMF, Rothschild, UK, UKIP, US

June 12, 2013 · 16:05

Has the case of UKIP been made stronger?

It seems that the EU is starting to hand out slightly less restricting measures. Commissioner Olli Rehn is removing for a short time the 3% deficit limit. This is a slippery slope to say the least. Yes, it is correct that the economy is a fact that needs to be fought. Yet all (including the UK) are spending money that they do not have. UKIP is riding on the waves of these fears, where we the taxpayers will end up footing that bill no matter what. And in the European picture the ‘we’ is simply any citizen paying tax. Governments writing checks, for which they have no money. However the difference of that small point that they can no longer cut is still amounting to billions. In the UK with a vastly over the 1 trillion pound deficit such sliding numbers will really add up. Like me, Nigel Farage saw this coming from a mile away and now he is ready to play his move to start walking towards a landslide victory.

If these driving reasons are not dealt with then both Labour and Conservatives who are currently nowhere near changing the economy are heading to a legendary defeat. There is however a comical side to this. (One should always find reason to smile) It would be the first time in history that the opposition could get crowded by both Labour and Conservatives, with day one likely becoming quite the show. How would that fall in the House of Lords? In that case Black Rod (the Usher) will have a field day! A role currently assigned to Mr David Leakey, former Lieutenant General in command of European Union Military Staff. He was awarded ‘Companion of the order of St. Michael and St. George’. Take it from me that when the members of Club Carlton and the Reform Club are on the same side of the isle, the Usher might need a little back-up to break up slight differences of opinion and he better bring a bigger Dragon then the one St. George slew to aid him.

Yet, the shortage is the issue. How to stem the tides? It is clear that spending more and more is not making it happen. I personally think that it is time to join hands together (not singing Kumbaja). As Commonwealth nations we have a duty to stand together. We have always seen the US as a brother, yet when it comes to accountability, their actions have a massive bearing on our situations, yet they just shun accountability, they have remained absent in stemming the tide of the economical Tsunami, they themselves are creating. My suggestion is that we the United Kingdom, Canada, Australia and New Zealand start uniting economic solutions together. Being parked in London, Sydney or Melbourne is no longer an option. All three have to deal with shortages on one hand and unemployment rates on the other. What if we seriously start to change that? What if we push for a preferred partner in solutions? I myself experienced last week the answer from Canada, that they (one consultancy firm), when it comes to foreign workers limit themselves to US citizens. Perhaps our English is not good enough? There might have been a very valid reason in this, yet I cannot stop to wonder whether we are ignoring possible options to make the Commonwealth economically great again.

We are under such pressures to adhere to ‘corporate’ standards, and the bulk of all those companies are American. This is not about pointing fingers, but to restart an economy. If we look at the gaming industry nowadays, then that war, which was a former war of innovation, which is now diminished to a war between Microsoft who is about to hurt low income gamers and Sony, who is true to the gamers. The interesting side is that they for the most come with the same titles. There is still Nintendo, yet they seem to be lagging way behind. This is a multi-billion dollar industry and the shares are almost 40-40-20 with Nintendo in the 20% group. What is stopping us to take the Google OUYA Android Gaming Console into that market and start growing a market that is now, but has massive potential. Let’s face it, getting 10% of that market is still serious money and the economic downturn to people will remain at least another 3-4 years. So with a play to a cheaper solution is one they would love. It also forces the other three to become innovative and competitive again. Smaller playable games at less than £ 5 makes it possible for starting developers to make many millions. Consider that families can afford 4-5 games instead of 1 Microsoft game with a £5 surcharge. It does not end there.

Europe is outsourcing customer care centres, technical care centres and we cannot find a way to get 100,000 a job? We need to rethink corporate thinking that is smaller based, makes money and pays taxation. That makes those places 3 times a winner for all parties involved. It does not matter who gets to be in office, in the end we need to fight to make sure that this office survives!

And as we go back to that multi-billion dollar gaming industry, when these people get a pre-owned game surcharge where will that be taxed? It is time to put a stand and make these chargeable items taxed in the gamer’s nation, not in a virtual server location where no taxation is due. When these companies move into the nations of the world, demand rights, protection and support, yet walk away from taxation that is due as they receive all those rights, then we should look at the abundance of non-accountability and make it an accounting matter.

We need to start moving. It is nice and essential to fight over the GCSE A-levels, but without an economy they have no future, and we must fight for both!

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Tagged as Australia, Black rod, Canada, Conservatives Labour party, David Leakey, dragon, gaming, google, Google OUYA, House of lords, landslide victory, lieutenant general, Microsoft, New Zealand, Nigel Farage, Nintendo, Olli Rehn, order of St. George, PlayStation 4, Sony, UK, UKIP, United Kingdom, Xbox One

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