Old Holborn

Tuesday, 9 February 2010

All Ponzi Schemes Fail In The End

The Welfare State was created as a massive Ponzi scheme, where the first pensioners and receivers of benefit were the big winners, they had paid nothing in and they got go 'free treatment'- which was in effect being paid for by the next generation of subscribers, the scheme would not have got started unless the USA had not paid in millions of Dollars in Aid, the national debt created by WW2 took over sixty years to clear.

There is a large bulge going through the Ponzi scheme at present caused by the 'babyboomers' and those who a in receipt of benefits that have never contributed to the investment scam. The new subscribers are much fewer in number than the baby boomers are are going to be expected at the point of the gun to subscribe to the scheme. All Ponzi schemes go bust when the new subscriber base is small than the one that goes before, or they are unable or unwilling to prop up this edifice.

Last night on Look West our local cute kittens and granny show, a former WW2 bomb aimer who is now suffering from dementia has been told if they want the luxury of respite care to give his wife a break from being a full time carer, they will have to pay for the'service'. Needless to say the storyline was of an injustice to the former serviceman who had payed into this scheme and now expects the benefits in his old age.

Unfortunately the storyline was not that the whole edifice is a scam, and those who promoted such a scheme in private industry would have Lord Mandy on their backs, but in the State sector you can indulge in all sorts of criminality if it is in the public interest and good.

The reason 'Lord' Mandy cannot privatise the Post Office, Billions of Pounds worth of underfunded Pension entitlements. So we are all stuck with being forced to prop up that Ponzi scheme.

Eventually all such schemes fail, they cannot defy gravity for ever.

Monday, 8 February 2010

Its All Coming Unravelled

Far from offering the Chairman of the Chilcot Inquiry cough sweets this time, Straw is being grilled over the discrepancies in his, Blairs, Shorts testimonies,its not going very well.

Why does he just not say 'I wanted to keep my place on the greasy pole' and get on with it.

Flight From And To The State

Over on Tom Paine he is commenting on Mark Thomas' assertion that the
UK should invade Jersey, because all of the 'Pirates' that are avoiding
'rightful' Income Tax by relocating their businesses there, or
Switzerland or other non hostile business parts of the Globe. Whilst
Mark Thomas is doing this tongue in cheek, it does hightlight that business is not set up in the UK to be the Milch Cow of the State, or to be unpaid Tax gatherers. The State is not an equity partner, it takes no risks in the venture it just bleeds the Cow dry. So what incentive is there to stay ?

Of all the dividend payments that were made in 2009, 25% came from just two companies, the vast bulk of dividends came from just five companies. Nu Labour has rendered the UK to be one of the most unprofitable places to do business in the world. The productive sector is just upping sticks and voting with its feet.

The Flight to the State is from older applicants rather than going on the dole, applying to University, up twenty per cent on this time last year. This is not taking into account this is an early snapshot, as the application season is no where near over. This is a laudable alternative to sitting watching Jeremy Kyle all day, as long as there is genuine education happening, not some of the more utterly useless courses on offer.

So when Blair said Education,Education,Education did he really mean as an alternative to full time unemployment in a bombed out economy ?

Enemies of the People Part 962

Meet Gerald Shamash, Labour's legal advisor.

He is the Labour Party’s election lawyer. He acts for both the National Executive Committee and National Constitutional committee on disciplinary matters, and in giving general advice. He advises both national and local politicians on Standards in Parliament and local government. He has represented the Labour Party on parliamentary and local government boundary reviews, and at ministerial meetings and conferences.

Gerald’s electoral law expertise has brought him into contact with many jurisdictions to lecture, train and advise including; Sweden, Malawi, Bosnia Herzegovina, Croatia, Kenya, Uganda, Nigeria, Cuba and Russia.

No wonder he feels his clients are above the law. "yak Shamash" says Borat

Coincidence? I think not

Sunday, 7 February 2010

Filthy Lucre - Study New Labour's finances

Ever wondered where the money to keep Mandleson in the style to which he has become accustomed comes from?

If I was in a trade union, I'd be hiding what little I had left. In the meantime, I'm going to go through this little list and cross reference it against the list of Entertainment and Expenses of thrid parties at Parliament published last week.

I am still sure there is no such thing as a free lunch. Nor is it likely to consist of a bacon sandwich either.

++more MPs and Peers to be charged++

Lord Paul, the Labour donor, and Lord Taylor of Warwick, the Tory peer, who both made large expenses claims based on properties that were not their actual homes are being investigated by the DPP

Paul, a multi-millionaire friend of Gordon Brown, admits he never even slept in the property he called his main home. It was, in fact, a one-bedroom flat at the back of one of his hotels. The hotel’s former manager has confirmed that he — and not Paul — lived in the flat.

Eric Illsley, a Labour member and former union official, who allegedly overclaimed £6,000 in council tax. Whitehall sources have confirmed that at least one other MP is being investigated.

Plus the Uddin debacle of course

Get stuck in

PS. Grab a cheap Lordship title. £21.99 while stocks last

the tears of a clown....

2 million marched through the UK to stop the war - ignored. 600,000 innocent people died.

Mr Campbell said the media was obsessed with "settling your scores and setting your own agenda".

We'll let you know when we're finished asking difficult questions, Alistair.