enlarge Take that pitchfork down to Wall Street, man! Good news, my fellow Americans: You don’t have enjoy drum circles or want to free Mumia to support Occupy Wall Street! And there’s a simple reason for this: Our political and economic elites have screwed all of us, not just out-of-work twenty-somethings. How have they done this, you ask? Let us count the ways: First, our political and business leaders have cheered on the decimation of America’s manufacturing industries through trade pacts that open up American workers to competition from countries where workers have no rights and are paid something like negative-five billion cents per year. This has not only led to the destruction of millions of middle-class jobs but has given America an absurd current-account deficit where we basically import cheap crap from China and don’t make much of anything ourselves anymore. See this graph: enlarge At the same time our politicians and business leaders pursued policies that benefited the super rich at the expense of everyone else. Think income tax cuts, capital gains tax cuts, the repeal of Glass-Stegall , the deregulation of derivatives and the creation of a billion-zillion-katrillion loopholes in the tax code that let the super rich get away with paying fewer and fewer taxes. The result has, quite predictably, been a rise in income inequality See this graph: enlarge To cover up the stink of good jobs disappearing and real wages stagnating, our politicians and business leaders assured us not to worry since we had access to all kinds of cheap crap and, even better, we could exponentially expand our credit through the miracles of modern finance! So even if you go deeper and deeper into debt to maintain your lifestyles and to pay for college and medical expenses, don’t sweat it! You can always take out a home equity line of credit to pay the bills since home prices always, always, always go upupup and you can just sell your house for a higher price if all else fails! See this graph: enlarge Except… ooops. Housing prices are plummeting… enlarge …and now you’re stuck with a paying a mortgage on a house that is worth far, far less than it was just last year. (Note to my conservative friends: This isn’t just a subprime problem for shifty inner-city layabouts. One-third of all prime mortgage loan borrowers are underwater as well.) And this, then, is more or less the face of America in 2011: We’re basically a nation of former factory workers who now work as Walmart greeters. As if that weren’t bad enough, we are getting tossed out of our homes and are living in fear of coming down with any sort of illness because our crappy part-time job doesn’t provide us with health insurance. And the reason we got ourselves into this mess in the first place is because we followed the advice of our best and brightest business and political leaders. I mean, if you can’t get pissed off about that you can’t get pissed off about anything.
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MoD permanent secretary, who is investigating whether Fox breached ministerial code, is said to have raised concerns The most senior civil servant in the Ministry of Defence had previously warned Liam Fox about his connections to a self-styled adviser and personal friend, Adam Werritty, the Guardian can reveal. Officials had also previously told Fox to stop Werritty handing out business cards that falsely describe him as an “adviser to the Rt Hon Dr Fox MP”. On Thursday, Fox said he was referring the matter to Ursula Brennan, permanent secretary at the Ministry of Defence, to investigate “baseless accusations” that the friendship had led to breaches of national security. But according to three separate sources, Brennan had already confronted Fox about Werritty on the day the Guardian revealed that Werritty had brokered a crucial meeting at a five star hotel in Dubai . Sources close to the MoD said Brennan had raised concerns about whether Fox and Werritty’s friendship had strayed into official government business. Werritty, 34, who is not a government employee, has visited Fox at the MoD offices in Whitehall 14 times in a little over a year. One source said Brennan spoke to Fox about Werritty’s role in the meeting in Dubai this summer on 19 August – the day the Guardian revealed Werritty’s role in the meeting, which has left Fox facing the prospect of being called to give evidence in a blackmail trial in the US. “They have offices next to each other, they discuss any number of matters every day – she would have mentioned this on the day your story came out,” the source told the Guardian. The MoD did not respond to requests to detail how often Brennan had spoken to Fox about Werritty. The department also failed to respond to claims that the officials had earlier told Fox to stop Werritty handing out the business cards, which are embossed with a House of Commons portcullis logo. This latest revelation comes as Fox said it was “unacceptable” that Werritty had distributed the business cards. “I understand those cards are no longer used. I have made it very clear to him that it’s unacceptable to carry a card saying that he is a personal adviser.” On Thursday Fox asked Brennan to launch an investigation into what he called “wild allegations”. “Because there have been some allegations of security leaks and so on, I’ve asked the permanent secretary to look into that for me,” he told the BBC. “I’ve asked the permanent secretary to look into any of these wild allegations, and I’m very happy to stand by that investigation.” Brennan will investigate whether Fox has breached the ministerial code. Kevan Jones, a Labour MP and former armed forces minister, said it was “unthinkable” that the permanent secretary would not have already raised concerns about Werritty. “She would have raised it,” Jones told the Guardian. “She is there to protect the reputation of the department. And also to protect the secretary of state from any conflict of interest.” The Guardian reported on Thursday that Fox had been joined by Werritty during an official visit to Sri Lanka in July despite claiming that Werritty had never accompanied him on government business. It came a month after the pair went to Dubai to meet Harvey Boulter, the chief executive of Porton Capital, a private equity partner of the government which is embroiled in a legal case over a threat to withdraw a knighthood awarded to the British chief executive of the US Post-it note maker 3M. The meeting, at which no government officials were present and of which no records were kept, is at the heart of a pending US blackmail trial. Fox has been told that he will be requested to attend the trial if it reaches court. Liam Fox Ministry of Defence Rupert Neate guardian.co.uk
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Click here to view this media During a White House news conference Thursday, President Barack Obama said that the Occupy Wall Street demonstrations were proof people wanted to see tighter financial regulations. “Obviously, I’ve heard of it,” the President said of the protests. “I’ve seen it on television. I think it expresses the frustrations that the American people feel that we had the biggest financial crisis since the Great Depression, huge collateral damage all throughout the country, all across Main Street and yet, you’re still seeing some of the same folks who acted irresponsibly trying to fight efforts to crack down on abusive practices that got us into this problem in the first place.” “So yes, I think people are frustrated and, you know, the protesters are giving voice to a more broad based frustration about how or financial system works… [F]or us to have a healthy financial system, that requires that banks and other financial institutions compete on the basis of the best service and the best products and the best price and it can’t be competing on the basis of hidden fees, deceptive practices, or, you know, derivative cocktails that nobody understands and that expose the entire economy to enormous risks. That’s what Dodd-Frank was designed to do.” “Do you think that Occupy Wall Street has a potential to be like the tea party movement going forward?” The New York Times ‘ Jackie Calmes asked. “What I think is that the American people understand that not everybody has been following the rules, that Wall Street is an example of that, that folks who are working hard every single day, getting up, going to the job, loyal to their companies, that that used to be the essence of the American dream,” Obama explained. “That’s how you got ahead, the old fashioned way. And these days a lot of folks who are doing the right thing aren’t rewarded and a lot of folks who aren’t doing the right thing are rewarded. “And that’s going to express itself politically in 2012 and beyond until people feel like, once again, we’re getting back to some old fashioned values in which if you’re a banker, then you are making your money by making prudent loans to businesses and individuals to build plants and equipment and hire workers that are creating goods and products, that are building the economy and benefiting everybody.”
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Italian prime minister’s quip in response to his party’s flagging fortunes brings condemnation from all quarters Italian opposition politicians have been joined by a leading Catholic publication and even government MPs in expressing outrage after Italian prime minister Silvio Berlusconi joked he was thinking of renaming his political party Forza Gnocca, which translates as Go Pussy. The criticism came as Berlusconi, whose political career is widely considered to be on the wane, was accused of parking an old friend in a safe job after a former pet food executive was nominated as the new head of the Venice Biennale, Italy’s foremost art and architecture exhibition. Responding to the slide in the polls of his Freedom People party caused by the financial crisis and his sex scandals, Berlusconi reportedly told MPs he had commissioned surveys to find a new name for the party, which started life in 1993 as Forza Italia, or Go Italy. “Some of polls say the best choice would be Forza Gnocca,” he joked, according to the Italian daily La Stampa. Pier Luigi Bersani, the head of the opposition Democratic party, called the quip despairing, while party colleague Rosy Bindi said: “Now the farce is turning into tragedy.” Democratic senator Anna Finocchiaro said: “These are not jokes but a reflection of the view that Berlusconi and his coalition have of the country – backward, vulgar and squalid.” The widely read Catholic publication Famiglia Cristiana joined the fray, telling Berlusconi: “If you are not ashamed, we will be ashamed for you. And we will say sorry, in your name, to the whole world.” Berlusconi is currently standing trial in Milan accused of paying an underage prostitute, while prosecutors want to know why he made large cash payments to Gianpaolo Tarantini, an entrepreneur accused of bringing escorts to Berlusconi’s parties in Rome. Actor George Clooney, who visited Berlusconi at his Rome residence in 2008 to discuss Darfur aid work, told Time magazine he had not witnessed a “Bunga Bunga” party, but did add: “There are so many jokes, there’s so little time.” Berlusconi has used the word gnocca before, describing Margaret Thatcher in 2007 as a bella gnocca . Berlusconi’s latest use of the term embarrassed some supporters, but Alessandra Mussolini, the granddaughter of the Benito Mussolini and a Berlusconi MP called the quip “splendid”, adding “it means he considers us protagonists”. Berlsconi was also under fire after his culture minister nominated Giulio Malgara, an old acquaintance of the prime minister’s, as the new head of the Venice Biennale. A veteran of the advertising, pet food, sports drink and corn oil industries, Malgara replaces Paolo Baratta, who has been praised for boosting attendances at the event. “Why is Malgara considered better?” asked former Venice mayor Massimo Cacciari. “Because he is a friend of Berlusconi’s?” Italy Europe Silvio Berlusconi Tom Kington guardian.co.uk
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The remains of the man, who was reported missing in 2009, were found by members of the public in the Highlands The remains of a man who went missing from London two years ago have been found on a Scottish mountain, police have said. Members of the public made the discovery on Sron Mhic Gille-Mhartainn in the Monadhliath mountains near Laggan in the Highlands on Thursday afternoon. Northern Constabulary were alerted at around 2.20pm the same day. They have identified the man, who was reported missing from London’s Metropolitan Police area in 2009, but will not reveal this information until next of kin have been informed. The remains are said to have been present on the mountain for a long time. A report will be submitted to the procurator fiscal. London Scotland guardian.co.uk
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Daniel Powell, 26, joins more than 500 mourners to pay respects to father, David, last of four miners killed in Welsh pit to be buried A son who survived the Gleision mining tragedy paid his last respects on Friday to his father who died in the accident. Daniel Powell joined more than 500 mourners at the funeral of his father, David, 50, who was one of four miners killed in the Welsh pit. Powell Sr – known as Dai Bull – was the pit maintenance manager and was trapped underground when a torrent of water flooded the tunnels. His 26-year-old son was just metres from him but managed to make a desperate escape to safety. Powell Sr was found dead alongside fellow workers Charles Breslin, 62, Phillip Hill, 45, and Garry Jenkins, 39. His family and friends turned out at St David’s church in his home village of Ystalyfera, near Swansea, to pay tribute to him. His coffin was taken into church with his three sons Daniel, Matthew, 29, and Korie, 12, as pallbearers. His white miner’s helmet was laid on top of the coffin. Neath MP Peter Hain told the congregation: “He was a much loved man and proud miner. He was so proud in fact that his miners helmet and lamp stands on top of his coffin.” Floral tributes in the hearse read “Dad” and “Bampa” – a Welsh nickname for grandad. Mourners were in tears as the hymns Abide with Me, The Old Rugged Cross and Calon Lân were sung. Daniel Powell had worked at the Gleision colliery near Pontardawe in the Swansea valley for a year alongside his father – and was among the three miners to escape. He is one of the last sons in the once-mighty south Wales coalfield to follow the tradition of joining his father underground. Powell helped give rescuers vital information about where the men may be holed up in the flooded mine and then endured an agonising wait for news of his father. After the body was found, the family paid tribute to “proud” miner, a father-of-four who had worked underground most of his life. They said: “He was a wonderful husband, father, grandfather, son and true friend. “Dai was a proud collier, our life and soul. He brought joy and fun to everyone he met.” Police and the Health and Safety Executive have launched an investigation into the tragedy. David Powell’s is the last funeral of the four to have taken place. Wales Mining Coal Energy industry Steven Morris guardian.co.uk
Continue reading …We’re No. 1! In Lack Of Vision And Leadership on Infrastructure Projects!
October 7, 2011 No CommentSo we have the lowest scores for vision and leadership on infrastructure? We’re number one right down there with Peru! WASHINGTON, D.C. — CG/LA Infrastructure LLC announced the results of its annual survey of public- and private-sector executives on the U.S. infrastructure market. Results were released ahead of next week’s third North America Strategic Infrastructure Leadership Forum, being held Oct. 11-13, 2011 in Washington D.C., an event that draws several hundred international infrastructure development companies, banks, and policymakers to develop expertise and collaborate on projects. The CIC survey polls respondents on eight areas fundamental for infrastructure project development, calling for a ranking from 1 to 10, with scores below 7 indicating a failing grade. The U.S. Score for 2011 is 43.8, compared with Brazil’s most recent score of 50.8 and India’s score of 51.3. Aside from the extraordinarily low scores, there are a number of important findings. First, two scores — for overall vision and for leadership — are the lowest for any country surveyed . Second, on a positive note, the score for domestic engineering, procurement, and construction firms (EPC) is a passing grade, indicating confidence in the technical capabilities of the U.S. private sector to build necessary infrastructure projects. Norman F. Anderson, the guy whose company did the survey, also just wrote this op-ed for the Washington Post in which he argues for a new approach to infrastructure: A focus on job yield will help the nation prioritize those infrastructure sectors that are most productive in job creation, channeling marginally more resources in that direction. Think about it — project investment would have less to do with congressional districts and political favors and more to do with systematically building our future . Here you could easily argue that the Silver Line extension to Dulles Airport would be a better investment than adding a lane to a parallel highway. A focus on yield begs the addition of a second critical concept: velocity. Projects around the country are ready to go now, large and critically important projects; there are easily a million jobs in tipping-point projects. My firm recently identified 10 ready-to-go projects worth $90 billion, which would create nearly 1.5 million direct jobs. Wait, so there’s some connection between failing infrastructure policy and this ? WASHINGTON — Signs that US firms are still not hiring are raising alarm that a key US unemployment report due on Friday will show yet more pain for American workers. According to a private sector survey released Wednesday US firms created a paltry 91,000 jobs last month, indicating a long slog ahead to reclaim the nearly nine million jobs lost since the financial crisis. “Like August, this month’s jobs report continues to show modest job creation,” said Gary Butler, the head payrolls company ADP, which produced the report. Although it is often difficult to draw a straight line between ADP’s reports and Friday’s key government report, economists said recent news did not portend stellar jobs growth. The ADP does not include government payrolls, which have been steadily shrinking as local authorities shed positions to cut costs. “In Friday’s employment report, we expect the unemployment rate to be unchanged at 9.1 percent for the third straight month,” said Jeffrey Greenberg, an economist with Japanese bank Nomura. Who’d a thunk it? Maybe someone should do something.
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Europe’s refugees cannot escape poor living conditions in Italy because of European law. Harriet Grant investigates John Domokos Harriet Grant Christian Bennett
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Ofqual could be given the power to hand out fines to boards that make mistakes setting exams Exam boards are facing fines from the government’s qualifications regulator after a string of errors in this summer’s GCSE and A-levels. Ministers will on Tuesday propose an immediate change to the law to allow Ofqual to impose a financial penalty – capped at a certain proportion of an exam board’s turnover – if they make mistakes in the future. But the move was questioned by a head teachers’ leader, who said any fines would simply be passed on by the boards to schools, adding to already large exams bills. The boards themselves believe the move, to be introduced in an amendment to the education bill currently in the House of Lords, pre-judges an inquiry by Ofqual into this year’s mistakes, which is due to report by the end of the year. Ofqual launched its investigation in July, after this summer’s GCSE and A-level results season featured at least 10 mistakes, affecting tens of thousands of pupils. One error was a printing mistake by the AQA board, leading to some schools receiving GCSE maths papers, taken by 32,000 pupils, which included questions from a previous version of the exam. In another case, an OCR maths AS level paper with 6,790 candidates featured an impossible question worth 11% of the marks available. Four boards serving schools in England and Northern Ireland apologised for errors. Ofqual already has power to take strong sanctions against them, ultimately it can ban an exam board from setting exams. However, two weeks ago, Nick Gibb, schools minister, wrote to the boards to tell them that Ofqual’s current powers “inhibit swift action and do not serve as an adequate deterrent to problems such as we saw this summer”. He said the government would change the law to give Ofqual the power to hand out fines. The government believes that Ofqual needs additional sanctions because the watchdog’s current power to ban a board from operating is to much of a “nuclear” option, with potential to cause major disruption for pupils and schools. Brian Lightman, general secretary of the Association of School and College Leaders, said: “Ofqual’s review is not due to publish until December, and it seems strange to pre-empt the findings in this way. “A fine on awarding bodies will simply turn into a fine on schools and colleges, since they pay for all the costs of examinations through exam fees. Institutions are already spending large sums on exam fees, and any further burden would be a perverse consequence. It would be completely counter-productive.” Schools A-levels GCSEs Education policy Warwick Mansell guardian.co.uk
Continue reading …Herman Cain Quotes Obscure 20th-Century Strike-Breaker and Misattributes it to Lincoln
October 7, 2011 No Comment
Click here to view this media In this brief clip from CNN, supposed GOP front-runner assails the “Occupy Wall Street” movement as a waste of time, and a front for the Democratic party and Barack Obama’s re-election hopes. What caught my ear, however, was the line he uses and attributes to Abraham Lincoln: You don’t help the poor by hurting the rich. Republicans have been using it for decades, most famously by Ronald Reagan at the 1992 Republican National Convention, when he said in his speech : I heard those speakers at that other convention saying “we won the Cold War” — and I couldn’t help wondering, just who exactly do they mean by “we?” And to top it off, they even tried to portray themselves as sharing the same fundamental values of our party! What they truly don’t understand is the principle so eloquently stated by Abraham Lincoln: “You cannot strengthen the weak by weakening the strong. You cannot help the wage-earner by pulling down the wage-payer. You cannot help the poor by destroying the rich. You cannot help men permanently by doing for them what they could and should do for themselves.” None of which Abraham Lincoln ever said. Those axioms were from one Rev. William John Henry Boetcker, a now obscure historical figure but in 1916 the director of Citizens’ Industrial Alliance, which later became the Citizens’ Alliance, a pro-employer organization notable for its strike breaking, anti-union efforts in the early part of the twentieth century. Snopes details this authoritatively here . I suppose none of this should come as a shock from any Republican, and especially not from a potential Republican nominee who takes his inspiration from children’s cartoons , a man who until recently seemed more interested in selling his book than actually winning the nomination. And indeed this clip, and his later interview with Lawrence O’Donnell for MSNBC were done in a bookstore, Cain hawking his book and campaigning at the same time. Republicans have been fabulously successful at creating and marketing their own mythology for at least the last forty years, unsurprisingly coincident with the decline of the middle class and ever greater wealth in the hands of the few. It’s no wonder someone like Herman Cain doesn’t understand the Occupy Wall Street movement or the real resentment out there just beginning to surface.
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