27 Sept 2012
Boom & Bust Vicious Cycle - Max Keiser with Detlev Schlichter
NEW ONS SHOCKER: Just 1 in 4 UK adults aged 16-74 has a full-time job - The Slog
THE FINAL PROOF: How neocons and liberals have accelerated Britain’s progress over the cliff
45% of all those currently in work don’t have full time permanent jobs, according to this month’s ONS labour market data .
While that 45% number reflects a reality in the UK Labour market
highlighted by The Slog in previous posts, the cumulative result of
adding up all the anomolies of our economy’s inability to employ people
paints a very bleak long-term picture indeed.The ONS also tells us that 22.4% of adults aged 16-64 are economically inactive. So that doesn’t include the retired…although of course some of them will be in the 45% of part-timers – thanks to the last fifteen years of Westminster policy shrinking their pension values.
But let’s start from one simple assumption: that very few people over 75 beyond Rupert Murdoch are still working. That’s 9.2% of all adults….but generously leaving out the 6.5% aged 65-74 entirely.
The aggregate comes to a staggering 76.6% not in a full time job. Only one adult in four – at the most – enjoys full-time employment in the United Kingdom.
For the life of me, I cannot understand why the statisticians are scratching their heads, and asking why unemployment is static or falling in the deepest recession for eighty years. The simple reality is that employment is changing: from long-contract, full-time career work to zero contract, short-hours part time or freelance work.
To paraphrase an old and dishonest Saatchi & Saatchi political campaign poster from 1979, the immigration/economic model/reduced welfare/globalist matrix being followed by Britain isn’t working.
Europe's betrayal of Spain - Ambrose Evans-Pritchard
Spain’s premier Mariano Rajoy has been betrayed. Nobody should be entirely surprised if he and the Spanish arch-nationalists in his circle offer a condign riposte, and bring down the entire temple on the heads of the creditor powers.
He bit the bullet and agreed to the highly intrusive terms of a €100bn eurozone rescue for the Spanish banking system on a specific understanding: that the ESM bail-out fund would ultimately take over the burden by recapitalising Spain’s banks directly.
This deal has been breached. Can we believe anything that the Chancellor of Germany, the prime minister of Holland, and the prime minister of Finland say from now on? The EMU rescue edifice is built on sand.
You might say Mr Rajoy had no choice. But he did. There were those whispering in his ear that Spain should instead retake control over its own monetary, exchange, and sovereign policy levers, and break out of its debt-deflation trap.
Julian Assange to UN: 'US trying to erect national secrecy regime' (Full version)
Addressing the representatives of the United Nations' member countries, the WikiLeaks founder spoke of the difference between words and actions, praising US President Barack Obama for his words.
"We
commend and agree with the words that peace can be achieved… But the
time for words has run out. It is time for the US to cease its
persecution of WikiLeaks, our people and our sources."Assange was highly critical of US involvement in the Arab Spring, denouncing Obama as audacious for exploiting it. He added that it is "disrespectful of the dead" to claim that the US has supported forces of change.
Words From The Grave Maya Naser - No Civil War in Syria - Syrian Girl
By SyrianGirlpartisan: Press TV Journalist Maya Naser was
martyred yesterday when FSA Mercenary Snipers while he was covering a
bombing in the Syrian capital of Damascus . He was a patriot and a brave
hero that risked his life for the truth. Three weeks before his death I
interviewed him on wether or not there was a civil war in Syria. I
waited to put it out because i wanted to edit it, and now it's too late
for him to see it. I had hoped to interview him again, 'inshallah' he
said, 'god willing'. Source
Spanish Bank Deposit Outflow Surge Continues In August
Submitted by Tyler Durden: The crux of the "pain for Spain" was exposed
in August, when the world learned that despite all attempts to the
contrary, Spanish banks are no longer perceived as safe by the locals,
and the result was a record 5% deposit outflow in
one month from local banks: cash that was promptly redeposited
elsewhere in the Eurozone. And as money flow theorists know all too
well, if cash is exiting the Spanish banking system - i.e., if the
confidence is just not there, not only is growth impossible, not only
are any austerity plans or otherwise to push GDP higher futile, but all
attempts to save the local banking system - which is now reliant on the
ECB for funding to the tune of a record €412 billion, and which means
the country has already been bailed out by the ECB - are futile and
merely sunk, literally, costs. In short: the deposit outflows continued,
and while not at the record July 5% pace, a whopping €17 billion, or
1.1% of total, deposits left the country for good and is unlikely to
come back.Is A Gold Standard Possible? - Daniel Brebner
A Future Gold Standard?
A common theme in discussing the gold market is the prospect for a new gold standard in the future. That such a topic is now common says much about the change in attitudes by investors, many who would have ridiculed the mere mention of such a thing as little as five years ago. It also, perhaps, gives a hint as to the desperation of investors in their search for assets which they believe may protect their wealth over the long-term, a period which may experience more than its fair share of event risk.
If gold were to regain its crown as the primary medium of exchange it would dramatically change the way that governments manage their economies – which some would say is a good thing given the results of their management skills thus far. Nevertheless, the imposition of a gold standard would limit the ability of government to affect the supply of money in the economy. The supply of money would rest entirely with the volume of gold holdings that a country would possess and grow in line with its trade balances plus domestic gold production (depending on domestic resources and whether these resources in fact became state property – which we expect should be of consideration).