Links regarding current credit crisis

Well, this is still quite big news globally so here are a couple of interesting links that give viewpoints and opinions regarding the whole deal:

First off – I detest Michael Moore but this is interesting: http://www.michaelmoore.com/words/message/index.php?messageDate=2008-09-30.

An argument from the other side: http://www.americablog.com/2008/09/why-im-still-concerned-about-yesterdays.html. The comments here are a mixed bag and, IMHO, capture a great snapshot of the confusion most people are experiencing regarding this.

Lord Palmerston vs Pitt the Elder

The Tories have been playing a game that looks a lot like the bar room argument from an old Simpsons episode.

At Moe’s Tavern…

Barney: And I say, England’s greatest Prime Minister was Lord Palmerston!
Wade Boggs: Pitt the Elder!!
Barney: Lord Palmerston!!!
Wade Boggs: Pitt the Elder!!!! [pokes Barney]
Barney: Okay, you asked for it, bud! [punches him out]
Moe: Yeah, that’s showing him, Barney! [scoffing] Pitt the Elder…
Barney: Lord Palmerston!!!! [punches Moe] (from www.snpp.com/episodes)

Except in the Tories’ case, it’s a survey on “greatest Tory ever” and the Conservative Party show less understanding of political reality than Barney and Moe.

(I won’t make any jokes like “the only good Tory is..” Some, eg David Davies, have even been known to do the right thing on occasion.)

Ironically, given the present global meltdown of the financial system, they chose Mrs Thatcher over alternative Tory leaders such as Churchill and Disraeli. Hmm. (Lord Palmerston was both a Tory (Conservative) and a Whig (Liberal) according to wikipedia, so maybe he doesn’t count. Pitt the Elder was a Whig so he definitely wouldn’t count anyway.)

You can’t just blame Margaret Thatcher – you can blame the idiots who fawned on her and voted for her, for a start. Mainly, you can blame the global tide of neo-liberal economic policies.

But it was her mission to dismantle most of what remained of the UK manufacturing sector, giving people the bizarre ideas that

  • as long as the rich are getting ever richer, the economy must be sound
  • messing about with money is a reliable basis on which to base a national economy
  • rising property prices are somehow putting wealth into the economy as a whole rather than making a few property speculators wealthy
  • private companies are so much more efficient than nationalised companies that the taxpayer will magically save money by letting private companies profit from providing public services
  • and plenty more than doesn’t stand the test of a moment’s consideration, if you factor in the awareness that markets fluctuate
  • but makes lots of sense if your backers are going to profit from your “reforms”

(Amazingly, the nuLab part of the Labour Party is also mesmerised by this tosh.)

It’s quite funny that the Tories are choosing the moment at which the mad vapour-industries of finance are self-destructing to align themselves with the personification of the stupidity that allowed these industries free rein. Not as funny as the Simpsons, admittedly. Moe and Barney could probably form a more effective government.

Tory Leader spins tabloid appeal

Well, time for a departure from American politics and a look closer to home.

At the moment the Conservative party are spewing out vast tracts of nonsense, under the guise of a party conference. It does, however, give an insight into how willing to manipulate the voters they are, and how easily manipulated we actually are.

This is a headline news item which has been in papers and on radio bulletins quite a bit under the headline “Tories ‘to help have-a-go heroes’“:

Measures to help the public and police tackle criminals and end the “walk on by society” have been outlined by shadow home secretary Dominic Grieve.
He told the Conservative Party conference that too many people making “genuine attempts to prevent crime” had been arrested or prosecuted.

Erm, no. Not really true. It is, however, the poster child of the tabloid news papers. For decades we have been hearing urban myths about how a “have a go hero” stepped in to save someone and then got prosecuted. Most of the time, these are just that – urban myths. If you investigate the cited examples, the truth is often very different.

The law of the land is not biased against “have a go heroes” but, quite rightly, punishes vigilante gangs and disproportionate use of force.

Sadly, British journalists are shamefully bad at investigating. The BBC even have an example in their article:

Mr Grieve’s comments came after banker Frank McGarahan died following an attack in Norwich. The 45-year-old intervened when he saw two other people being assaulted in the early hours of Sunday morning, but was himself set upon, suffering fatal head injuries. Police have launched a murder inquiry.

Now, is that relevant? No. Mr McGarahan was not prosecuted by the police. The government did not kill him. Unless this is an example of the BBC showing why it is a bad idea to encourage untrained, unskilled people to pile in, there was no reason to bring it up.

If, however, the BBC are similar to the tabloids, the conflation of statements like this is often done to generate misdirection – the public hear the two, and decide that the government shouldn’t have prosecuted people like Mr McGarahan….

Madness. I am saying this a lot lately. We are a society of lunatics. Worryingly, when you think everyone else in the world is insane it normally means……..

Anyway, pushing that to one side. We get more ludicrous waffle from the tories:

Mr Grieve pledged to “take on the health and safety culture” and the legislation which “is holding officers back and making them more risk averse”.

This defies belief.

Health and safety measures are there to protect people. They are there to stop your employer forcing you to risk your life and limb for your job. They are there to make sure that you can function as a working member of society for as long as possible. It has nothing to do with stopping people from being “risk averse” (and here I suspect the Tories demonstrate a lack of understanding as to what “risk” means).

The Conservatives point to examples like the case of 10-year-old Jordan Lyon, who drowned in May 2007 saving his younger sister.
Two community support officers were at the scene but did not get into the water because they had not received the appropriate training.

What should they have done? Should they have died trying to save the 10-year old? (In which case the 10-year old would have died anyway). Do the tories plan to force everyone to risk their lives on a daily basis?

Note, the 10 year old was not risk averse. He took a risk and died. Should two other lives have been added to the tally? If you are family of Jordan Lyon, the likely answer is yes, but if you were a loved one of the community support officer would you have wanted them dead? Whose life is more important?

It gets funnier though:

The Conservatives want to amend Section 2 of the Health and Safety at Work Act 1974 to ensure that protecting the public from risk is given priority over the risk to officers.

Interesting. Police officers will no longer be able to risk the life of the public to protect themselves… There go the tasers, armed police, batons, riot shields etc. When someone tries to jump off a balcony, will police have to throw themselves underneath to break the fall?

Still it is a sad day that the lives of our Police officers is now deemed to be less important the lives of our public. This is doubly sad in the case of the Police Community Support Officers(*) who have no powers, are paid appallingly bad wages but still have to sacrifice their lives.

Going back to the tragic Jordan Lyon case, the officers were untrained in how to save someone. If they had been compelled to dive in without knowing what to do, what are the chances they would have saved him? Why is lifesaving a taught skill that comes with a qualification if everyone can do it automatically?

The sad fact is, the manipulative tories have jumped on this bandwagon to stir up an apathetic public. They have made meaningless gestures but grabbed headlines. The tabloids love them and to uncritical thought it sounds great.

Dont you just hate politicians?

It isnt just the tories who are prone to such underhand statements:

But the government said its was already working on the issues the Conservatives had raised, including changes to the law, so people using “reasonable force” to protect themselves could have “greater confidence” they would not be prosecuted.

Political vapourware at its best. This basically says: they are not currently going to be prosecuted but the tabloids and tories make them think they are so we will change a meaningless part of the law so everyone feels better. Argh.

Given the lies of the tories, the emptiness of the Labour party and the pointlessness of the Liberal Democrats is it any wonder voters are apathetic?

(*) I detest the very concept of PCSOs. It strikes me as a nasty way of getting policing on the cheap, while allowing under-trained, under-educated thugs out on to the street with a false idea of their own authority. Spend more money on getting real police out. That would save 99% of the problems with PCSOs. IMHO of course…. 😀

Do anything when in crisis

In my previous post, I pretty much said everything I could ever say regarding my limited understanding of the financial crisis, so this has a slightly different spin.

The BBC today have carried an interesting quote from the illustrious George Bush:

Mr Bush said at the White House: “We are in an urgent situation and the consequences will grow worse each day if we do not act.”

Taken at face value it is quite frightening. But here in our comfortable Ivory-WhyDontYou Tower we have heard this before. Lots of times. On both sides of the Atlantic. About lots of different situations.

For those of you have been bored enough to read high pressure marketing crap, you will recognise some of this. A staple of a scam is the call to urgent action. The sales idea is that by telling you to “Buy now while stocks last” is a great way of over-riding your decision making process. I am sure most people can remember when, idly surfing, you would be confronted with a pop up window saying you were a winner and you only had 10 seconds to click before you lost you wonderful prize.

Now, unusually for Bush, this is slightly more sophisticated. It is very true that we are in an crisis situation. It may even be urgent. However, none of this supports the second half of the statement. Even more crucially, not one part of the statement supports the proposed bill.

If you accept that the situation is urgent and delay will make it worse, you are still left with having to find out what the solution is. Simply doing anything is not the answer. Oddly, this is what the English speaking politicians seem to be crying for. The idea appears to be that doing anything is better than nothing.

What madness.

Doing something useful is better than nothing. Simply acting is not. In fact, doing the wrong thing can be worse than doing nothing. Bush again:

“We’re facing a choice between action and the real prospect of economic hardship for millions of Americans,” he warned.

“Action” – don’t you just love it? Sounds so dynamic and heroic. In fact it is so masterfully-leaderlike, who cares what the action is! More importantly, who cares what nonsense it is.

The choice is not between action and economic hardship. Even with the bail out plan, economic hardship is in store for millions of Americans – just a different set of millions than the one he wants to protect.

The choice is between a knee-jerk reaction and doing anything in the hope it will work, and trying to discover what will actually work.

Anything else is selling snake oil to the American public. Do people still buy that stuff over there?