Banks and Bombs!

British banks, including the two that were bailed out by taxpayers, are investing hundreds of millions of pounds in companies that manufacture cluster bombs- despite a global ban outlawing the production and trade of these weapons.

The Royal Bank of Scotland, Barclays, Lloyds TSB and HSBC have all funded makers of cluster bombs, even as international opinion opposes such a weapons system that routinely maims or kills civilians and children.

Oliver Sprague, an arms expert at Amnesty International, said: "High street banks like Royal Bank of Scotland are making a mockery of UK law by shamefully investing in companies that make weapons the UK Government and 108 other countries have clearly and quite rightly banned."

Oh dear, it really would be good to post something positive about our society and the banks. So I am taking a month off, to search for some more cheerful news. Enjoy the rest of the summer.

The real 'yobs'.

The real 'yobs' are the Speculators and the Bankers, aided and abetted by the Prime Minister and the Presidents of most countries. They destroyed so many small business's, jobs, homes and people living peacefully in their own communities, that it bears no comparison to the recent damage, which I do not condone.

But with the Police, the Media and the Politicians now seemingly corrupt; what leadership skills do they display, or indeed can they display?

If anyone's home should be taken away, it is the ones that most of us now subsidise via low interest rates- those that live in mortgaged properties. However, I believe no one should loose their home, as it will create future problems and no one should be homeless. But why pick on Council homes only? Let's stop picking on the very poor, as our 'leaders' are fuelling huge discontent for the future.

We can solve this together without the assistance of the 'hang and flog them' brigade supported by the racist EDL, who support no one, but their own selfish and bigoted views.

Danger Zone!

World markets have entered a “new danger zone”, the president of the World Bank has recently stated.

Robert Zoellick said investors had lost confidence in the economic leadership of several key countries. Developing countries were now the source of growth and opportunity, Mr Zoellick said.

In the past two weeks, global stock markets have suffered massive falls on fears about the state of leading economies. But yet again Mr Zoellick offers no solutions.

On the US, he said markets were not afraid that the world’s biggest economy faced imminent problems, but that they had got used to the US “playing a key role in the economic system and leadership”. But surely this cannot continue!

The eurozone faced more serious problems, he said, with a lot of member states “moving from drama to trauma”.

Well they are mainly the words of the President of the World Bank and perhaps put all my Blogs into context. A real and alternative system must surely be found.

Cost of Oil!

Some interesting and live information about the cost of fuel around the world, which affects most costs, including food to us all. The cost of fuel does not reflect the substantial and recent reductions in the cost of oil, again blamed on the speculators.

Worldwide and cash reserves!

Prior to going away for a break, I will try to answer three e-mail questions. Yes, apparently Apple does have a larger cash reserve than the USA according to an article by Andrew Wooden. According to US Treasury figures released this week, the United States has an operating cash balance of $73.768 billion. No small amount, but that’s $3 billion less than the $76.2 Apple has in reserves. 

The worldwide crisis is indeed such and is clearly yet again affecting European countries and others outside the USA. The main thrust of my Blogs to date has been to try to explain that the system is bankrupt worldwide, and has been so for many years. Declining growth, over these years has been patched up and lied about to protect those that own the wealth; and to continue to fuel the 'feel good factor' for materialism; achieved mainly by borrowing and speculation. It was always been doomed to failure and we should grasp this opportunity to debate ways of forming a new society which is based on the needs of us all, and not just a minority of profiteers and the wealthy.


It is no consolation to me to have been proven right over the years, because we have seen little change in society or it's values.

Finally, my understanding is that a trillion is a a million million. I think this helps and puts my last Blog into perspective. So I have answered my e-mails. Enjoy your blogging and breaks.

USA Default and the Tea Party!

The US House of Representatives has passed by 269 votes to 161 in a desperate deal to avoid a debt default.

President Barack Obama, who lectured Europe on why spending and investment is the best cure for a recession, was yesterday contemplating the consequences of an emergency debt-ceiling deal that will take more than $2 trillion out of a bankrupt US economy over the next 10 years. It raises the debt limit by up to $2.4tn  from $14.3tn, and makes savings of at least $2.1tn in 10 years. 

The bill is expected to be approved by the Senate and signed into law by President Barack Obama .

These huge sacrifices, to satisfy demands largely driven by the ultra right Tea Party segment of the Republicans, was approved in the House of Representatives. It will produce deep spending cuts.To the disgust of many in his own party, Mr Obama seemingly caved in to these demands. 


It surely reveals to the rest of the world, just how bankrupt the USA is, as the 'leader of the World Wide' economic system. The implications for the rest of us are enormous.