Outside the marginals

A commentary on the politics that followed the UK 2010, 2015 & 2017 elections (and THAT referendum)

Archive for the tag “capitalism”

Labour won’t find its soul by navel gazing

… last year’s election defeat could be reduced to two key factors – Labour’s failure to pay enough attention to “economic competence”, and the fact that “the public did not perceive Ed Miliband as a credible prime minister”.
The Guardian, 1 January 2016 : When are Labour party ‘moderates’ going to do more than just moan?

But behind that there is a rejection of Labour’s attempts to hold power by trying to ape the Tories – they can never be “better Tories than the Tories”. If unrestrained global capitalism is the name of the game you might as well vote Tory.

But if unrestrained global capitalism is not the name of the game … Read more…

“old solutions to old problems, not new answers to the problems of today”

Yvette Cooper has turned her fire on the frontrunner in the Labour leadership race as the party prepares to start sending out ballot papers.

“old solutions to old problems, not new answers to the problems of today”
BBC News Website 13 August 2015 : Yvette Cooper: Jeremy Corbyn’s economic policies ‘not credible’

Read more…

A Shareholding Democracy?

What has happened to shareholders?

I believe shareholders have become ineffectual. There are pressure groups (share action) that are working towards changing this situation. However, I believe there needs to be root and branch reform. The 19th Century model of the limited company is out moded.
Comment by rantingsphere on Julian’s Musings: The ignored hit back

Is it outmoded or has it been overtaken? Read more…


I think I must have a problem with my speech – once again I am left speechless by the latest scandal in our capitalist system.

Barclays fined for attempts to manipulate Libor rates (BBC News Website 27 June 2012).

Barclays Bank PLC Admits Misconduct Related to Submissions for the London Interbank Offered Rate and the Euro Interbank Offered Rate and Agrees to Pay $160 Million Penalty (US Department of Justice Website 27 June 2012)

Barclays Bank PLC Settlement with Authorities (Barclays Website 27 June 2012)

Trader messages reveal sprawl of Libor probe (Financial Times 28 June 2012) {this fingers other banks}

Read more…

The problem with the rich

I have been thinking about “the rich” quite a bit recently, what with the crash and the budget.  I feel I need to try to get beyond the “bash the bankers” and “soak the rich” rhetoric and work out where my problem lies and whether it is “with the rich” or just some of the blighters. Read more…

Standing up to the blackmailers

Lord Jones of Birmingham (Digby Jones formerly of the CBI and former goat) says we have to be careful that the banks do not decamp to the Gulf because the banks account for 20% “of the entire tax take of the United Kingdom” (BBC News Website 11 January 2011). Others have made similar points.  In effect the banks are saying “play the game our way or else”.  When the Krays did similar it was called a protection-racket and they were accused of intimidation (Met Police: The Kray twins).  The banks may not be literally and directly killing people, but when faced by blackmailers you have to do something. Read more…

Given them an inch and they will take at least a Cable

The rather synthetic cries of outrage from “the capitalists’ spokesmen” alerted me to the fact that someone had dared to suggest that capitalism was either:

  • not all it was cracked up to be, or
  • if it was, then maybe society did not feel they benefited from capitalism

Obviously a really major ground-breaking speech was about to be made.

Read more…

Capitalism: you can’t budge it

Last week’s budget was in some ways unsurprising – and we have not seen all the details yet.

Inevitable squeals from Labour that “the electorate did not vote for this” – but they did not “vote for Labour” either; they can watch the Conservative Liberal Coalition do the dirty work to tackle the unspoken issue of the last election – the Debt and the Deficit.  That has interesting consequences for all the political parties. Read more…

Capitalism: Does it work for you?

We are told that Capitalism is the most effective way to run an economy, but I sometimes I have my doubts.  One of those times is now.

The boss of Ryanair says he does not feel he has to meet his obligation to payout to his passengers stranded overseas – because the fares are so cheap. And he will take on the regulators: “Great opportunity for the airlines to expose this nonsense”.

The Airlines seem to be able to over-ride governments (and expect to be bailed out by them – i.e. us – at the same time).

A bank wraps up a load of dodgy mortgages which it expects to fail and flogs them to saps whilst at the same time allowing someone to lay a bet on them failing – and it takes a cut from which it pays bonuses.

Kenneth Clark says if we have a hung parliament the Bond Market will determine our future – and it won’t be pretty.

Do Governments govern or do markets and the global corporations rule?

Politics is dead, long live economics.

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