There is a mystery about the media coverage of the Newark by-election result. The most interesting thing about it was the abysmal failure of the official opposition, just one year ahead of a general election. The New Labour percentage vote actually dropped, and even just taking the New Labour v Tory vote, the New Labour swing from Tory was only 2 per cent. That is an almost unprecedentedly poor performance by an opposition in a by-election at this stage in a parliament, and a very, very plain indication of what was already obvious – that Miliband is not going to be entering the door of No. 10.
Yet Sky News, the BBC and the Guardian have virtually nothing to say about New Labour’s disastrous result. Both Sky and the BBC this morning managed to give their analysis on the by-election without even mentioning New Labour at all. What can be the cause of this reticence? Is it that they are not anxious to point out to Scots that their choice is independence or more Tory government?
Something else from Animal Farm… Trostsky was clearly identified as the good guy, but a lot of the bad side of trades by unionism in the late 1970s, and militant tendency in the 1980s came from those supposedly following Trotsky. Never quite come to terms with whether Trotsky was a bit like “The Levellers” in the English Civil War, cruelly manipulated by a superior political manipulator who discarded him as soon as he started to get in the way of “the great plan”.
Yes, Stalin was a b—— to anyone who dared to question him. And so was Hitler. However, we would probably be well into the 1000 year Reich by now if it wasn’t for the Red Army…
@RD: That is good to see… and good to see that teachers and pupils have been listened to by the exam board when making their choices. There are sadly many examples of labour party figures that became like Napoleon and Squealer. Miliband does need to “purge” the opportunists within his party who have used the aspirations of “hard working families” to boost popularly and seize power for themselves. I still find it ironic that Orwell’s real name is Blair.
Peacewisher
While what you say about Orwell and Trotsky may be true – to then extend it to Peter Taafe and the Militant Tendency is ridiculous in the extreme. If you think Orwell would for one moment have supported the Militant Tendency and its methods you clearly need to read a lot more Orwell.
We would also b well into the final year Reich if it wasn’t for Churchill and the British People and others who fought the war for 2 years before the Russians became our allies – by all means give due credit to the Russian people and the Red Army but they are not the same as Stalin and his henchmen.
I don’t believe that for a moment, RD! You could also say that militant tendency did for Trotsky what the Ukrainian purges did for Stalin. It seems that the truth of the matter re Stalin seems to be that he went insane after the death of his wife; wasn’t he the one who had shot anyone who brought him bad news?
OK. The purges were unforgiveable, and so were the excesses of Hitler, but so have been plenty more unforgiveable actions “in the name of democracy” in the late 20th century.
Do our politicians want to learn from history?
“It seems that the truth of the matter re Stalin seems to be that he went insane after the death of his wife;”
I presume you mean his first wife back before the Russian revolution.
“You could also say that militant tendency did for Trotsky what the Ukrainian purges did for Stalin.”
No – Trotsky cannot be held responsible for the Militant Tendency.
RD If you had linked to the actual photo rather than the RT page I would have known what you were on about.
I think Hasbara should have better training for their operatives. 🙂 Habbabkuk/Habbabkuk came here now knowing how to copy and paste. FYI hover over a photo, click on it and see Properties. Copy and paste the link.
PS You also caused confusion by linking to my BBC link as if it was yours!
Therefore you are definitely not getting any apology nor is there need for one.
PPS There is no such person as Lady Dorking incidentally. There is however this large aluminium statue of a Dorking cockerel on a roundabout in the town. Perhaps your mate H would like it as his avatar.
http://www.geograph.org.uk/photo/582787
Not knowing …rather than now knowing.
More thieving and crookery by the banks.
June 5 2014
Deutsche Bank warns of material damage from forex probes
Deutsche Bank has warned the continuing investigations by global regulators into whether foreign exchange rates were manipulated could have a “material” effect on the lender.
The Frankfurt-based bank said its financial exposure to the misconduct probes – in which multiple global banks are under investigation by authorities around the world – could be material. It added that its reputation could also suffer as a result.
Commerzbank suspends 2 currency traders
Germany finds evidence of forex rate-fixing
BaFin finds forex manipulation evidence
Two arrested in Australia forex probe
IN Banks
Credit Suisse eyes fixed income spin-off
Goldman prop traders strike out
Barclays M&A chief quits
FCA seeks to fine former Deutsche trader
Deutsche has suspended five traders located in the Americas as part of an internal investigation into whether foreign exchange markets were manipulated, while other employees have received other disciplinary measures.
In total, at least 34 staff at 12 banks and the Bank of England have been suspended, placed on leave or fired as part of the global investigations by lenders and regulators into possible rate-rigging in the €5.3tn-a-day currency market, the largest financial market in the world.
As yet, no regulator has brought any formal charge and no traders at Deutsche or any other bank have been charged with wrongdoing. BaFin, the German regulator, warned last month that it had found “concrete evidence” that attempted manipulation had taken place in the foreign exchange market, without naming specific institutions.
Deutsche cautioned that many of the investigations were still in their early stages and that it was too soon to estimate how large any fines from governmental bodies or private lawsuits might be.
The lender also warned that revenues in its investment bank in the second quarter of the year were likely to be lower than the same time last year as the decline in fixed income trading continues to harm the bank.
Deutsche warned that April and May had seen an “ongoing challenging market environment with low customer volumes and low volatilities in many key areas”. It said investment bank revenue in the second quarter could be lower “by a similar to slightly greater extent” than the first quarter dip of 10 per cent.
The bank also warned that revenues from its equity arm, which increased in the first quarter of the year, were now trending downward. Global transaction banking, by contrast, had shown an improvement in pre-tax income so far in the second quarter compared with the same time last year, while its non-core unit also lost less before income taxes in April and May compared with the same period in 2013.
The warnings were made in Deutsche’s prospectus for its €6.75bn rights issue sent out to investors on Thursday. Investors were offered the opportunity to pay €22.50 a share – representing a 24 per cent discount on the bank’s share price at the close of the market on Wednesday – with existing shareholders eligible to purchase 5 new shares for every 18 they currently hold.
The move is the second step in the €8bn capital raising announced by the bank last month as it seeks to strengthen its balance sheet amid fresh regulation in Europe and the US. Shares worth €1.75bn were placed privately with Paramount Services Holdings, the investment vehicle of the Qatari royal family, last month.
Deutsche, which has come under criticism from shareholders in the past for its weak capital strength, said the new capital would strengthen its common tier one equity ratio from 9.5 to 12 per cent and its leverage ratio from 2.5 to 3.4 per cent as of the end of March.
http://www.ft.com/cms/s/0/8c5832be-ecc1-11e3-a57e-00144feabdc0.html
Copied to save you registering!
Vulture capitalists, or Bankers if you will, are the biggest expense in public projects, Mary.
http://www.mercurynews.com/ci_24795356/delta-tunnels-plans-true-price-tag-much-67
The lesson from Animal Farm and 1984 is about how people are manipulated, coralled and divided, and it applies as much to the West as it does to the USSR or China.
For all sorts of historical and economic reasons, the West itself is now the master of Orwellian technique.
Orwell’s thinking is certainly not statist, and that’s the point. You’ll see that in Homage to Catalonia.
You see, those like Res Diss and Habby who follow the Western line are themselves victims and/or promoters of Orwellian technique.
Those who understand what Orwell was on about will not follow so blindly the Western program to dominate the globe. That’s truly an Orwellian nightmare, from which there is no escape.
The real debate now is between those who are for a multi polar world against those who favor a banker ruled globe.
I’m quite sure Orwell would not have wanted a banker ruled globe.
“Those who understand what Orwell was on about will not follow so blindly the Western program to dominate the globe.”
Nor the KGB program to dominate the Ukraine.
“I’m quite sure Orwell would not have wanted a banker ruled globe.”
There we can agree – but I suspect he saw rather more alternatives than Western pigs and KGB pigs (or is it dogs) which you so devoutly favour.
Why don’t you just apologise, Mary? You got it wrong, like you so often do, and you refuse to backdown out of pride — a sin, if I am not mistaken. Of course this will become an item to be recalled in future commentary whenever you call for an apology. See how it works?
@ Lady Dorking
“RD If you had linked to the actual photo rather than the RT page I would have known what you were on about.”
I referred to it being the 2nd photo on the page – and quite clearly your paymasters did not teach you to use the scroll bar – the links were all ok the first time. And yes of course the aristocracy never feel they have to apologise the little people or the BBC.
Res Diss
You still don’t get it, do you.
If you support the Western anexation of Ukraine, then you’re supporting the neocon plan for world domination.
That’s the whole point.
Are you really so stupid that you don’t see this.
Jemand
I’m coming round to Habba’s as you receive so shall you give line – but then perhaps I should remember I have had a better upbringing than much of the aristocracy.
“If you support the Western anexation of Ukraine, then you’re supporting the neocon plan for world domination.”
And do the Ukrainians have any say in the matter – or shall we just dismiss them and the Poles as you have done so cheaply. Perhaps I have a rather higher faith in Western democracy to deal with its ills – and certainly a greater faith than I have in the systems you support. Of course you could favour Ukraine becoming a larger version of Moldova with Eastern Ukraine as Transdnistra Mark II.
BTW you never answered the question about your feelings the day the Soviet Union broke up.
Mary
Why are you worrying about the banks manipulating markets? In the regimes you favour such behaviour is pretty much par for the course.
Get lost the pair of you trolls.
Stephen Fry retweeted this.
A eulogy to the NHS: What happened to the world my generation built?
In 1926, Harry Leslie Smith’s sister died of TB in a workhouse infirmary, too poor for proper medical care. In 1948, the creation of the NHS put a stop to all that. In an extract from his new book, Harry’s Last Stand, he describes his despair at the coalition’s dismantling of the welfare state
http://www.theguardian.com/society/2014/jun/04/coalition-attacks-nhs-return-britain-age-workhouse
~~
We have no money for the NHS, for social work, for children’s services etc but we do have money for the purposes of WAR.
£250m military college to be built at Worthy Down
http://www.bbc.co.uk/news/uk-england-hampshire-27755221
Apart from anything else, Worthy Down is a beautiful area north of Winchester. An old RAF WW1 airfield originally.
Res Diss
You really are a muppet.
You see, if you understand Orwell you don’t support any of the elites.
You certainly don’t support any of them in their plans for world domination, which is what you are doing.
Now, habby is an openly declared statist. He supports Western designs and plans.
You claim to be against these plans.
But evidently you’re much too stupid to see these designs and plans at work in Ukraine and other places, so you support them.
It really is as simple as that.
“Why are you worrying about the banks manipulating markets?”
RD; Did you read my link at 4:20.?
Do you support Bankers who triple the cost of public projects for the sake of Finance (fees and interest)? Do you also applaud the Advance Paycheck usery for the poor schmucks who can’t seem to live on this weeks paycheck?
The trolls might like some reading for a summer evening. Could I suggest this.
Stories from an occupation: the Israelis who broke silence
A group called Breaking the Silence has spent 10 years collecting accounts from Israeli soldiers who served in the Palestinian territories. To mark the milestone, 10 hours’ worth of testimony was read to an audience in Tel Aviv. Here we print some extracts
Children of the occupation: growing up in Palestine
http://www.theguardian.com/world/2014/jun/08/israel-soldiers-speak-out-brutality-palestine-occupation
India’s nationalized banking system. See pg 280 2nd to last graf.
http://www.brookings.edu/~/media/research/files/articles/2004/3/india%20policy%20forum/2004_banerjee_cole_duflo.pdf
Do you support Bankers who triple the cost of public projects for the sake of Finance (fees and interest)? Do you also applaud the Advance Paycheck usery for the poor schmucks who can’t seem to live on this weeks paycheck?
No and No.
Perhaps before you get too keen on India’s financial system (or Russia’s or China’s for that matter) you perhaps ought to consider the eye watering levels of corruption (esp among government officials) that accompanies it.
Herbie
I pick and chose which of the Western designs and plans that I support – as I guess Habba does as well, just that his selection is different from mine. We both believe in the ability of democratic institutions to challenge and change those plans – which they have successfully done over the years. Of course what you and others never do is set out any coherent alternative and then you end up supporting far worse regimes which continually demonstrate contempt for basic human rights.
“you perhaps ought to consider the eye watering levels of corruption (esp among government officials) that accompanies it.”
Granted. But that’s a cultural given and involves petty bribes as opposed to institutional graft and collusion amongst private banks.
Their form of government is, like ours, in an infancy of socio/political development some 7 decades old. How old is ours?
Res Diss
Which Western designs and plans do you not support?
And when you say:
“We both believe in the ability of democratic institutions to challenge and change those plans – which they have successfully done over the years.”
What’s the evidence for that.
“Which Western designs and plans do you not support?”
Read what I have said in the past – the answer is many. As a social democrat I have always believed that markets are once of the best mechanisms for resource allocation but they do need effective regulation to prevent their worse excesses. I yet again note the absence of any proposed alternative on your part.
“We both believe in the ability of democratic institutions to challenge and change those plans – which they have successfully done over the years.” ”What’s the evidence for that.”
All of the annual Chartist demands bar one have been met, the NHS and many other forms of socialised care, freedom of speech and expression on a degree not seen in many other parts of the world, generally higher living standards than much of the rest of world and less poverty among the worst off etc.
For RD re Stalin:
http://en.wikipedia.org/wiki/Nadezhda_Alliluyeva
I found out about her via the autobiography of her daughter.
Quote from Stalin himself:
“This creature softened my heart of stone. She died and with her died my last warm feelings for humanity.”
http://www.goodreads.com/quotes/519365-this-creature-softened-my-heart-of-stone-she-died-and
Res Diss
All the things you mention are disappearing.
Even the most foolish person must now recognize that there’s no effective regulation of financial markets.
The NHS is being broken up for privatisation.
Freedom of speech, of expression, of protest is being clamped down upon to a horrifying degree.
Living standards are plummeting.
You see, you’re barely aware of what’s happening in the world and that’s why you cling to an analysis which at least seemed superficially appropriate up until the late 1980s.
You don’t appear to understand that Globalisation changes the game.
You don’t seem to understand that corporations have taken over government and are now making plans to undermine any govt scrutiny of their activities.
That’s the end of democracy.
When the game changes, the rules change, and how you play the game changes as well.
Your support for the global agenda is in fact voting for your own enslavement.