Posts Tagged ‘Dan McCurry’

The Russians are stalling on Syria, America must be ready to act

12/09/2013, 01:44:26 PM

by Dan McCurry

Sarin is invisible, odourless and deadly in tiny amounts. If it’s in your surroundings, you’ll soon know; typical symptoms include soiling yourself, and choking to death as your throat muscles contract.

The international convention to ban these chemicals came about following the killing of 5,000 Kurds in Iraq. Apart from a bizarre terrorist incident on the Tokyo subway, sarin hasn’t been used since, so the ban had been effective right up until Syria.

The fact that sarin has now been used, without consequence (so far), must have put ideas into the minds of other dictators. After all, it’s somewhat more effective than CS gas. This stuff can stop a riot in a minute and a revolution in a day. For dictators, possession of sarin ensures security of tenure is guaranteed.

No one disputes that this chemical was created by Assad’s regime.

We’ve now got Putin striding the global stage, negotiating to decommission the weapons. Prior to the negotiations Assad had lied for years claiming that he had no such weapons. Immediately prior to the negotiation Putin was claiming that the rebels had used the sarin on themselves.

Let’s be clear about the veracity of that previous claim. Putin now admits that Assad built the stock pile. Sarin doesn’t have any other use on Earth. It is a weapon. There is no dual purpose. It doesn’t come about by accident. It only exists in order to kill people. If Assad built this arsenal he must have been willing to use it.

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What is the point of today’s Labour party?

21/08/2013, 10:01:17 AM

by Dan McCurry

Way back in 1992, at the TUC conference, John Prescott stunned the socialist movement, by making a forceful speech in favour of John Smith’s proposed trade union reform. He attacked the unions for even questioning the motives of the Labour leader. He shamed them into submission. He showed that his loyalty is to the party over the unions and as a result, was rewarded with the deputy leadership when Tony Blair later rose to power.

He is the closest thing there is to Labour party royalty, and he just accused the party leader of being ineffective. This is not unreasonable. Everywhere I look I see the government’s economic policy being attacked. The Economist magazine calls the right to buy policy “A daft new government-subsidy scheme”, but what did we hear from Labour? Nothing. Not a dickie bird.

Look at the way the non-aligned commentators judge Osborne’s policy. Here’s Frances Coppola, an economics blogger, and academic of the Cass business school,

As my regular readers know, I am determinedly politically non-aligned, so what I am going to say now will probably shock a lot of people. Osborne’s behaviour both angers and frightens me. He is playing brinkmanship with the UK economy to achieve political ends. Nothing he does makes much sense from an economic point of view – which is why the flagship Help to Buy scheme has been universally panned, even by his own department and by people from his own party. But if you view his actions as entirely determined by his desire to secure a Conservative victory in 2015, it all makes perfect sense. He is dangerous.

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Labour must expose the Tory wealth trap

14/08/2013, 11:05:13 AM

by Dan McCurry

The Tory wealth trap is making the rich richer, while the rest of the population either stands still or gets poorer. There is no trickle down effect caused by the squeezing the real economy with ill-timed austerity, while flooding the financial markets with cheap money, QE. All this achieves is to boost asset wealth while eroding wages, through pay freezes and inflation.

This wealth trap is caused by the desire of the Tories is to preserve their own wealth, but is exacerbated by the failure of George Osborne’s original economic policy, of expansionary austerity, whereby companies would be inspired by the cuts to invest. When that didn’t happen and the economy froze for three long years, he resorted to creating a debt bubble through subsidised mortgages.

The Tory policies are about to get worse. The current mortgage subsidy is £3.5bn. But this was only to buy new builds, which is excusable if it helps create shovel-ready jobs. However, the £3.5bn is about to be expanded to £12bn for all mortgages, just for the year running up to the general election. There couldn’t be a more blatant bribe than pumping up house prices in the run up to an election, without a care for the damage this will do to the economy in the medium and long run.

The most cynical aspect is that the pumping up of debt is all done “off-balance sheet”. George Osborne used to accuse Labour of not regulating the banks, who did off-balance sheet accounting, so who is regulating George Osborne, when he does exactly the same as a cover for his failed policies? The total amount of mortgage guarantees should be added to deficit, not recorded off-balance sheet, as this is the amount we are liable to if they go wrong.

It has always been Labour’s policy to invest in the real economy, the place where people have jobs and businesses. The original QE program was limited to creating liquidity in finance, oiling the wheels following the banking crisis. The Tories have transformed it into a massive hand out for the rich, at the expense of the rest of the economy.

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C’mon Ed, fight

05/08/2013, 08:43:06 AM

by Dan McCurry

In case the reader needs reassurance that Osborne is a failed chancellor, you only have to look at what the financial services people are saying. A couple of weeks ago, Citywire ran with this headline, “Hooray for the (debt-fuelled) UK recovery!”

How about this funny analysis from the stockbroker Hargreaves Lansdowne:

“Former US president Abraham Lincoln has been credited with saying the problem with politics is you can never please all of the people all of the time. In a more contemporary setting and with the UK yet to regain ground lost during the 2008-09 recession chancellor of the exchequer George Osborne has struggled to please anyone at any time since stepping into 11 Downing street three years ago.”

However, the one thing that the Tories do massively better than Labour is this: When they are down, they come out fighting. Even when the world took note that Keynes had won and austerity lost, they carried on fighting.  The question is, what does Labour do? Has Ed Miliband and Ed balls given up? Do we only have an opposition on a Wednesday lunchtime?

While the Conservative party refuses to publish their membership numbers, due to their decline, our party is fizzing with excitement. This whole party wants to take the fight to the Tories. The only thing that’s stopping us is that we need the leadership to show the way.

“I see you stand like greyhounds in the slips,
Straining upon the start. The game’s afoot:
Follow your spirit, and upon this charge
Cry ‘God for Harry, England, and Saint George!”

Forget about trade union reform. That stuff is history. The unions have shown contrition over that Scottish selection thing, and it’s over. What looked like a Clause 4 moment, has become navel gazing. Concentrate on what’s happening with the Tories. It’s interesting and dangerous, for them and us. Look.

The Tories want to turn defenders into attackers. Unlike us, they don’t have a vision beyond making lots of cuts, and the cuts agenda will soon be over. That’s why they keep making tiny announcements about parking on the drive or stop and search. They are trying to create the illusion of being busy, and we should be ridiculing them.

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What next for the Tories after the cuts agenda?

16/07/2013, 04:10:20 PM

by Dan McCurry

You can tell what the Tory focus groups are saying by watching the way the Tories behave. Right now, they are trying to close down the perception that the government has no ideas or purpose, other than the cuts. They know they have no agenda, once the cuts agenda is done.

This explains the flurry of rather pointless ideas announced in the last few weeks. Each one of them is half-baked and each one is accompanied with same the line, “Labour did nothing about this in 13 years”.

An example is Theresa May’s call for a consultation of stop and search, arguing that the policy tends to target young black males. This was widely reported and became a talking point on the media, even though it was completely shallow. This is not serious policy, just a suggestion that people have a chat about something. Yet every Tory politician took to the air to attack Labour for doing nothing for 13 years.

On health they talk of a £200 deposit for foreigners entering the country. Again, MPs took to the airwaves to claim that Labour did nothing for 13 years of government.  There has been little response from Labour to this proposal, but Andy Burnham tells me that he can’t respond as he still doesn’t know the details. He doesn’t object to stopping abuse, but he does object to the idea that Labour had done nothing about the issue previously.

On prisons they seem to think they can ship convicts off to St Helena to serve their ten year sentence, then bring them back for the last six months to serve their sentence close to their family. Presumably convicts can send CDs home so that their children can grow up hearing daddies’ voice, then after several years of absence the children can get to know daddy on 6 prison visits. If they hadn’t cancelled Labour’s prison building program, then the whole sentence could have been served within travel distance of the family. Yet they say, “Labour did nothing in 13 years”.

The Tories don’t fear being called “nasty”, they fear being called “pointless”. Once the cuts agenda is finished, what is the point of them?

As usual, rather than addressing the problem, they address the presentation. They believe that if they can repeat often enough that Labour didn’t do this or that, they hope that people will perceive that the Conservatives are busy bees, while Labour are a waste of time, even though the opposite is true.

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After Falkirk, it’s time for state funding of political parties

05/07/2013, 06:36:50 PM

by Dan McCurry

When somebody wants to end a relationship, they don’t engage in a rational conversation, they engage in rudeness, spite, and provocation. The end of the end maybe a rational discussion, but the beginning of the end nearly always starts with unpleasantness. The manner of Len McCluskey’s conduct in recent times has been unacceptable. This is not clumsiness, ignorance or accident. It is downright rude, and he knows it.

When the Tories have attacked Labour’s union relationship in the past, it has had little effect. Voters know Labour is fearful of indulging the unions to much, and that the unions support ordinary working people. However, the recent Tory attacks are different. Cameron, at PMQs, was not attacking Len McCluskey, he was attacking Ed Miliband. His allegation was that Miliband is not in control.

My first observation of the power of unions over Labour was at the 2009 Bournemouth conference. I arrived as delegate, excited and empowered with my vote. I wanted to put forward a motion and lobby other delegates to back my ideas. I soon realised that the results are stitched up by the unions beforehand. The delegate vote is window dressing for the membership.

The unions own the Labour Party conference. It is an annual jamboree where they get to take the stage and pontificate before some of the most powerful politicians in the country. There is nothing wrong with this. They paid for the conference so surely they can enjoy it. But when we witness them booing the name of a former leader, Tony Blair, what are we to make of this?

At the time it was dismissed as a one-off silliness, but it didn’t end there. The contempt has continued. Do these people have a respect for the institution of the Labour party, or are they only at conference because they are paymasters and therefore entitled to a good piss-up? If so then it’s an extremely expensive piss-up.

The unions give us millions each year, and they obviously have a duty to question whether these donations are in the interests of their fee paying members. They may also ask whether the high profile funding of Labour serves their image well, taking into account the barrage from the other main party, which must breed hostility in managers. There is a serious question as to whether funding Labour is a liability rather than an asset to the unions.

The alternative to union funding is state funding. If the level of state funding were sufficient then no party would be obliged to a specific interest group. Politics would be less dirty in terms of allegations and suspicions.

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How Osborne is feathering his own nest

27/06/2013, 03:00:06 PM

by Dan McCurry

George Osborne is desperate to have some kind of legacy that he can tell his grandchildren about. Selling the state-owned banks would be that legacy. The only problem is that universal advice tells him that now is not the time.

Stephen Hester had earned great praise for his achievements as boss of RBS, with investors such as Fidelity’s £2.5billion fund manager Sanjeev Shah describing him as “doing a fantastic job.” But look at the reaction from the brokers since Hester announced his departure.

Investec Securities:

The manner of Mr Hester’s departure is deeply unsatisfactory. Since 2008, government inconsistency and mismanagement have hurt shareholder value and, as 81% shareholder, it reaps what it sows.

Espirito Santo:

Mr Hester’s departure was clearly against his wishes and it appears that Mr Osborne had different ideas as to how the bank should be run. The political wrangling has significantly impacted the franchise.

The Economist magazine:

[Osborne] shoved out RBS’s boss Stephen Hester, prompting a sharp fall in the bank’s shares. …It is politics not economics that underpins the government’s decision to privatise the banks.

The share price was 334p on 11th June and is now 275p (27/6/13) and continuing to fall against a rising market. That’s an 18% fall so far. Placed in context, that is roughly a £20 billion loss to the British taxpayer in the space of a couple of weeks. (see footnote)

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White collar fraud costs us £ billions. Now Labour has a policy to tackle it

25/06/2013, 10:28:04 AM

by Dan McCurry

“When a man steals your wallet, he gets a stretch. When he steals your pension, he gets away with it,” said Emily Thornberry as she launched her policy for Tackling Serious Fraud and White Collar Crime.

In this country, the Serious Fraud Office (SFO) is considered a bumbling fool, whose work has been cut back so much that last year it only brought a mere 20 trials, on a total budget of only £30m.

To put that in some context, fraud costs the British economy £73billion a year. It was with this thought that the shadow Attorney General travelled to America to see why US prosecutors have such a formidable reputation.

Thornberry arrived in New York and moved on to Washington. In these two cities she found fraud prosecution teams buzzing with the brightest talent. Young lawyers aggressively compete for opportunities in fraud, not because it pays well, but because this is where the big reputations are made.

What a contrast with this country. For years, decades, the SFO has been castigated as a disorganised waste of time and money. Trials collapse, fraudsters walk free, judges criticise, journalists attack, and politicians pour resources into a bottomless pit. Thornberry realised that over all these years of criticism, the focus has been wrong. The problem is not the institution. The problem is the law.

As a simple interpretation of the existing British law, a company can be prosecuted, but a person has to represent that company in the dock. So the directors distance themselves from the crime, and hire lawyers to obstruct the feeble powers of the police investigator. This confuses the situation and allows the company and its directors to wriggle off.

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Remember how Clinton sealed the deal for Obama last year? Blair could do that for Miliband

17/06/2013, 08:00:16 AM

by Dan McCurry

I was once in a rock band for whom stardom beckoned. We were 16 years old and practiced in the music room at school, playing ‘60s music. The lead singer, John O’Dea, was a mod whose hobby was to beat up punks and skinheads. He was quite embarrassing. The reason he had something to prove was that back in ‘80s, the mods had a reputation for being soft.

One day John wrote some lyrics to a song called “Bollocks to a tramp”, and although we didn’t want to encourage him, the words were good so we added a guitar riff and it rocked.

Up the west end every Saturday,

The Mods, Punks and Skinheads all come out to play,

They really make me sick,

I could hit ‘em with a brick,

Say bollocks to a tramp,

Bollocks to a tramp,

Punks and Skins are tramps,

Say BOLLOCKSSSSSSSSS!!!

We got our first gig at a Mod all-dayer at the Ilford Palais. The crowd went crazy with 2,000 mods cheering at every line, and we were invited everywhere. Unfortunately the band fell at the first hurdle when the bass player got jealous and wanted to take over the vocals, so arranged for O’Dea to be kicked out. At the next gig, we opened with the bass player singing Bollocks to a tramp, and the audience sat all the way through, then clapped politely at the end of it. The magic was gone and the band soon split.

When Labour got rid of Tony Blair, I reflected on the sacking of John O’Dea. Even though I was politically closer to Gordon, I didn’t think it was a good idea to make the bass player into the Prime Minister when we had a star singer in Tony Blair.

Bill Clinton was another star. It’s questionable as to whether Obama would have won last year’s election without his help. Tony Blair could do the same thing for Ed Miliband, but Miliband wants to put space between Labour’s past and present.

Economic consensus has changed since the time of Clinton and Blair. We used to agree that aspiring to owning a house would lift people out of poverty. Even George W. Bush saw sub-prime mortgages as a way of ending poverty. The idea was that people instilled with aspiration lifted themselves up.

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Would we really welcome the end of the data state?

13/06/2013, 09:46:22 AM

by Dan McCurry

Ever wondered how mobile phone companies know where you are, in order to route the phone calls through to you? The phone in your pocket is keeping a constant “chatter” with the network informing them of your location. That’s how the police can track you down if you ever become a fugitive. They can tell where you are within a 10ft radius. And if you run, every 30 seconds your phone will inform them, and inform them, and inform them. You were never told this when you bought your phone. No one ever told you your privacy was being compromised on such a scale.

We live in a world where we are recorded by video dozens of times a day, simply while shopping for groceries. At the checkout, our bonus cards record the frequency and breadth of our purchases, and even the times of day of our habits and movements.

Our websites download “cookies” to our computer hard drives which record and survey our surfing, in order to guide us toward the products they’d like to us to buy.

The credit card companies constantly trade information with the credit reference agencies who have a record of every time you’ve paid your phone bill (late or on time), every application to take out a loan (successful or not), and every move of address and consequent new post code. They use this information to judge you, your character, whether you can be trusted with the money they lent you.

Don’t you feel uncomfortable? Don’t you just feel slightly nervous about it all? The sheer size and scale of all the information being collected about you, your habits, what you own and where you shop and whether you can be trusted anymore.

How about if I told you we could end it all with one sweep of a politician’s pen? You could get rid of the lot. Would you vote for it? Would you vote to end all the surveillance and data gathering that swims around you every second of the day?

What if I told you that by pressing a single button you would be able to wipe all the information kept on you and you’d able to start your life afresh knowing that not one single sinister agency would have one single sinister fact about you, would you press that button?

Now, imagine I can make this happen. I have just such a device and I’m putting it in front of you now. All you have to do is press the button. Why don’t you do it? The button is in front of you. Press it and let’s see how it can feel to be free.

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