Tag Archives: Xavier Rolet

We all tend to avoid change. Not because it is a problem, but we all believe in the expression: “When it ain’t broke, don’t fix it”. You, me all of us tend to go forward in our small circles, because for most comfort is king. Yet where is the moment when continuing the same is no longer an option? There is a lot of consideration in that because we tend to be like the frog in such manner. When you throw a frog in boiling water, he’ll jump out. Yet when you put a frog in a pot of water and put a flame below it, the frog will willingly boil to death. We are like that frog in many ways. Yet this is under normal circumstances, when we see an attack on our quality of life, we tend to get active real fast.

This is seen when our lives revolve around greed. When that happens the numbers go wildly out of control. This we see in the Guardian (at https://www.theguardian.com/business/2017/jan/10/hard-brexit-threatens-global-financial-system-city-chiefs-tell-mps), where we see people like Xavier Rolet, chief executive of the London Stock Exchange end up being connected to statements like ‘could spark more than 230,000 job losses‘. In all this the people involved are (as I personally see it) scared for their life filled with mistresses, large bank accounts and an overly rewarded quality of life ask questions like ‘clarity on the UK’s future relationship with the EU‘. You see, those people were lulling the masses around them into a false sense of compliance, but the people have lost too much, the gap of incomes too large and what no one was willing to accept is that Brexit became a reality and as the implementation is starting to move forward, those people are scared, their large incomes based on inaction is now in recession, it scares them, so they go into blame mode and flame mode. As Xavier Rolet called for a five-year transition period for the UK to exit the EU, possibly for additional reasons like a maximisation of retirement portfolios, is now confronted with ‘the Treasury select committee were told the triggering of article 50‘, which officially initiates the departure from the EU. Another Fat Cat, namely Douglas Flint has admitted a more playful response in this. “The ecosystem in London is a bit like a Jenga tower: you don’t know if you pull one small piece out whether nothing happens or whether it has a more dramatic impact”, is his statement and as he is allegedly fetching £7.6m a year (Compared to that, I am merely making 0.3% of that), we can feel secure in calling the man a fat cat of the finance industry. Yet he is not alone, the triplets of finance is completed with Anthony Browne, who is adding to all this ‘the preservation of the status quo‘ is the best solution.

You see, these people (some call them numbskulls) refused to listen for well over 4 years pushing everything forward and they all forgot that a nation is not them with their 322 friends who are all living the gravy train, it is the 68 million voters, who all for the longest time have lived a raw deal, they voted and there was enough to make a majority, too many had lost too many levels of comfort. If we push back to the frog in scenario 2, too many were getting too uncomfortable and the announcements from Mario Draghi on more Quantative Easing programs that can now be extended beyond 2017. The people see the debt growing and more important, the second time now has enough evidence that it will not be any better, almost certain that it will be worse. In all this we remember the action of an insane person. A person who does the same thing twice and expects different results. The people have had enough of fat cats drowning banks with cash whilst only the banks and the financial sector see the fallout bonus of those events. The people wanted Brexit and certain people in the English Financial Sector now see that the good times are ending, a few years too soon when they look at their retirement portfolios. In that they do not realise that the bulk of the population will have to work until the day they die, for well over 30% retirement is no longer a viable option. They all forgot about the people. In my personal view, the sooner the UK is out of that mess, the sooner can it actually grow its national value, the value of the British people! The fat cats all forgot about that, because for the most, their fortunes are all set in some mobile ‘currency’ that ‘avoids’, or is that ‘voids’ taxation in legal ways.

So even as some of these Fat Cats will grasp towards statistics like “median disposable income for the poorest fifth of households had risen by £700, or 5.1%, in the year to April 2016, while the richest fifth of households saw their incomes fall by £1,000, or 1.9%, over the same period” (source: the Guardian), yet what is left out in the shadows is that the poorest group is making less than £10,000, whilst the richest is making in excess of £55,000, with the top exceeding well over £275,000, so we can honestly state that those losing out of £1,000 should for the most not feel its impact and the top won’t even notice it. Change happens and only when it impacts our comfort levels (those not impacted by greed), that part has been ignored and now when the die is cast do we see levels of fear mongering, where a small group is hoping if they can get away with it a little longer. Almost like that little girl Beverly Hills Twist going to the front of the Crystal shop asking for a little more. Charles Dickens would roll in his grave is he witnessed this. I particularly like the Guardian Quote (at https://www.theguardian.com/uk-news/2017/jan/10/uk-inequality-working-people-pensions-ons) “it calculated that the average FTSE 100 boss earned more than £1,000 an hour, meaning it took less than three days to earn the UK average salary“, the start of a new Beatles hit ‘three days a year’, greed run amok. Let’s be fair, I am for the most a capitalist. I have never objected to bosses making more than me, yet when their incomes with bonuses sets my income (me with two University degrees) at 0.3%, we can state that the imbalance is too far out of control. In that regard, I will need to be slightly less diplomatic and refer to the joke that is ONS senior statistician, Claudia Wells who said “a strong rise in pensioner incomes was behind much of the increase in incomes, especially of those in the bottom 40%“, perhaps she would like to show us evidence, especially when we see places like ageuk.org.uk give us:

• 1 in 7 pensioners (1.6 million or 14% of pensioners in the UK) live in poverty, defined as having incomes of less than 60% of median income after housing costs.
• A further 1.2 million pensioners have incomes just above the poverty line (more than 60% but less than 70% of median income)

So in all this, when she hides behind that ‘increase in income‘, how much increase? Because the bulk is not getting any place anywhere soon, too much data shows that. In all this they also tend to miss out on entitlements like Housing benefits because of several reasons. I expect that a lack of social housing is likely to be a first reason.

In this we need change. We will need to consider how business in maintained. The clamp down on tax avoidance was a first, yet the EU borders are too open and too many facilitators for lower taxation remain. With Brexit squarely in place the banks will need to reconsider, try to avoid taxation a little longer by moving, or in light of the European changes stay and pay a fair amount of taxation, at that point only the fat cats lose out, which gave us the three wise crackers at the beginning. When the tax comes rolling in, we will also see a change for the NHS and other parties who have been ransacked due to full infrastructures without properly taxed representations.

In this we need to face a few facts, not just from the HMRC, we see that the Diplomatic Corps needs to take a close look at themselves in the mirror. When we get quotes from the Guardian like ‘Ed Llewellyn told MPs his staff were making contacts with other French presidential candidates‘, whilst stating ‘his embassy will not be forging links with far-right presidential candidate Marine Le Pen because the UK government has a policy of not engaging with her party, the Front National (FN)‘, he better get his head in the game real fast, unless that order came from Her Royal Highness directly. Apart from these people engaging in discrimination, should Marine Le Pen be elected (not a guarantee at present), the UK will have no options but to sit at the table with France, France is one of the economy pillars for Europe and even as the UK is also one, there is enough indication that player number 4 (Italy) will be entering a very deep valley of recession for some time to come. At that point only Germany remains as a sizeable business partner. Perhaps Ed Llewellyn would be so kind on informing the people of England how often an option of one worked really nicely for the UK, like ever? In this Crispin Blunt is asking questions as should we all, Llewellyn’s response “would be a matter for ministers” will in my humble opinion not hack it as they are making connections to the other political players in France. The consequence of these choices could potentially be expensive for the UK, in a time when the required policy of turning every penny is squarely in place.

That wisdom was given by Natalie Nougayrède of the Guardian in September last year with ‘Angela Merkel and Marine Le Pen: one of them will shape Europe’s future‘. Their visions are opposite and there is no clear evidence where the future of Europe is going. Whilst stating that, we do know that Merkel is in seriously warm waters (read: wibbit, wibbit), as Sigmar Gabriel is challenging Chancellor Merkel, there will be an age of polarisation within the German SDP. This will intensify as my earlier blog now gets a new side to it all. Thomas de Maizière a member of the CDU will have options to influence this polarisation, especially if Sigmar Gabriel is willing to offer a better centralisation deal on German intelligence, which is a dangerous reason to change to say the least. So having France in the UK preference side is going to be rather essential, alienating the current number two in that race is not the best actions, in that regard, the anti-Trump actions within the UK are equally not the good an idea, at some point we get to be thankful for Nigel Farage taking open positive interest in the inauguration of Donald Trump. In this we need to realise the ‘blunder’ Sir Kim Darroch made when he decided to dismiss him as “an outsider and an unknown quantity“, I am not a diplomat (far from that) and even I could have phrased that better. So as the UK diplomats bungle one side of the Atlantic river (that narrow brook between the USA and the UK), blundering on the other side of the North Sea might not be the best action to undertake. This when we look back at a leaked telegram by Sir Kim Darroch, making it interesting why a telegram? How encrypted was it? A little embarrassing that this is happening to the former national security advisor, it could just be the irony of the universe.

So as we are trying to grasp change, the people around us are doing the same. In fairness, like you they are catering to the needs of themselves, we cannot fault anyone for that, yet when their incomes is in excess of 300 times your income, how much leeway should they get? I have never opposed differences of income. Someone made Facebook and got wealthy beyond all means. So did the person who came up with Windows, with Oracle, with Google and a few others, yet those who merely ‘facilitate’, those who live of the vulture principle, those who do not actually create anything, how should they be seen? I cannot claim to know the answer, but there is a massive difference.

What changes do you grasp and who is making them for you?