The NHS Was Privatized By The Labour Government

health corporate businessHealth is a corporate business now, your wellbeing comes second to profit

The Queen’s Speech yesterday was the usual non event, but as the rabid rabble of Marxists, Trotskyists, Stalinists, Maoists, Corporatists, and Butterkists lined up, sweaty toothed and with eyes bulging madly to denounce The Coalition government, other news published yesterday and reported in mainstream media today ought to have reminded us what an inept, idiotic, ideologically obsessed, intellectually bankrupt, reality challenged bunch of tossers constitute our only alternative to Cameron’s Coalition Of The Clueless.

In an exclusive, The Independent reported that with the economy under the stewardship of Brown The Clown and Ed (the very fat man that waters the workers beer)?Balls, Labour ministers helped private firms make quick killing from PFI, a scandal totally ignored by the left dominated media (with the exception of some valiant efforts by The Guardian’s George Monbiot to raise awareness of how PFI was just a fancy name for shovelling taxpayer’s money into the coffers of billionaire buddies of theose gobshites Blair, Brown and Mandelson.

Here’s just one of George Monbiot’s reports on the insanity of Labour’s PFI schemes, search ‘Monbiot pfi’ for plenty more. George explains in simple terms how this method of financing public expenditure is just legalised extortion.

And next time you hear some swivel eyed lefty raving about The Tories privatising the NHS, remember that the job may have been started by Margaret Thatcher’s conservative government, but it was carried on with extreme relish by the shits and hypocrites of Labour under the war criminal Tony Blair.

In spite of this latest report of Labour’s addiction to wealth and power however, there are still people out there who think the nation would be better off with these scum sucking scab lice back in power.

from The Independent:

Private contractors have pocketed hundreds of millions of pounds of profits in the past four years by exploiting deals that were controversially awarded to them by the last Labour government.

Companies that were awarded contracts to build and maintain state schools for 25 years have been doubling their money by “flipping”, or selling on, the Private Finance Initiative (PFIs) projects just four years after finishing them.

The chair of the Commons Public Accounts Committee, Margaret Hodge, described the huge profits as “a total scandal” and said it meant “we have all been ripped off”. The Independent’s findings shine a new light on how private companies have made fortunes in pure profit from the rising value of the schools and hospitals they have built – value which critics say could have been retained by the taxpayer.

Four contractors alone made profits of more than £300m. Of the companies studied – Balfour Beatty, Carillion, Interserve and Kier – Balfour Beatty is by far the biggest beneficiary of the rising value of its Private Finance Initiative and Public Private Partnership deals. It alone has made profits of £188.9m.

Only this week, it flipped the University Hospital of North Durham and seven schools in Knowsley, near Liverpool, generating a gain of £51m. In the case of the schools, it doubled its money from the £19m investment made when the 27-year contracts were awarded in 2007 and 2011.

The Durham hospital, which was one of the first hospitals to be built under PFI-style private financing, was dogged with controversy about bed shortages and poor design when it opened.

Carillion has made £12.2m, Kier £20.7m and Interserve £90m, according to stock market filings and company documents.

Boggart Blog’s partner in crime (the crime of exposing establishment corruption and cronyism)have already reported on the sheer looniness of PFI schemes and how only Labour economists could think there was any befefit to the public in giving a private firm the money to build a new hospital and then renting that hospital from the private owners as a fully managed facility.

What is most upsetting however is that the shits and hypocrites of the Labour party assume we the punters are too stupid to see through their criminality.

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The Biggest Secret About banking has Just hit Mainstream Media

debt burdenThe Debt burden – source financial helper

Mostly in my guise as Little Nicky Machiavelli, I’ve pointed out for years that banks create money out of thin air. With many economics pundits predicting another, bigger than 2008, financial crash as ustable currency floods the world it has now finally struck mainstream media that our money is worthless, the only thing underpinning it is debt, your debt, your neighbours debt, Old Uncle tom Cobbleigh’s debt, George Osborne’s debt my … oops; I have no debts, repugnantly sensible person that I am, I saw it coming. The outcome is inevitable when loans come first … and then deposits FOLLOW.

In fact the money you borrow is bundled with the debts of others and used as collateral by your bank to secure loans from investment banks which will be used to make further loans to punters like you. If you think this sonds a lot like creating money from air, it is exactly that. The global economy is a giant Ponzi scheme, thanks to ‘liberal’ and ‘socialist’ (for both read corporatist) politicians and fuckwit economists with the intelligence of turnips perverting Keynesian economics to justify the infinite public spending oligarchic collectivism requires.

This is the most important secret about modern banking because it demolishes one of the biggest myths preventing a true economic recovery, challenges one of the main pork barrel profit centers for big banks. If finance ministers heed to common sense brigade and ignore the siren song of academics, running a national economy is just like managing a household budget but with much bigger sums involved and thus much bigger economic catastrophes as the consequence of continually spending more that your income opens up incredible opportunities for a prosperous economy.

This undeniable truth which stands conventional wisdom on its head has now gone mainstream, with not just bloggers like myself, financial market pundits like Tyler Durden of Zero Hedge and the Financial Times’ Martin Wolf – one of the world’s most influential mainstream financial writers – says that, since banks create money out of thin air, they should be stripped of this power, and limited to normal depository functions.

In other words they should not be able to lend money that is not underwritten by deposits or substantial assets, a bundle of debts is not a substantial asset, it is an effing debt, money owed which carries a risk that it will not be repaid. For example, The Deutschebank’s $75 trillion holdings of debt derivatives is worth absolutely eff all until people repay their debts. Simples. Or maybe not if you consider it amounts to 20 times Germany’s GDP.

Wolf indicates the centrality and importance of the issue with his subtitle: The giant hole at the heart of our market economies needs to be plugged.

Read more at Washinton’s Blog

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How Global Financiers Rigged the Bank Bailouts

Money From Rock Better Than Money From Air

Strange things are happening in the finance markets, very strange. As the FT and Dow Jones main indexes go up and down faster than a whores knickers, commodity prices are behaving weirdly too.

from Zero Hedge:

The last few days have seen Western anti-Russian rhetoric and red lines escalate dramatically as the military and economic issues come to light in any push back against Putin’s pressure. From NatGas export fallacies to “boomerang”-ing sanctions, the west seems stuck (for now).. which brings up the question – why is China and Russia making huge investments in commodity-miners? Russia’s largest gold miner Polyus Gold is considering a complete onshoring of its activities and China is buying a huge Peruvian copper mine from Glencore. The outcome would appear to enable both firms to do away with USD but not having to buy this resource in the market… just mine it? Continue reading

Well commodity backed currency is more stable than money from the air currrency we have had since the end of World War Two or the extreme version of fiat money, which involves city traders exposing themselves (Naked Finance). But who sets the exchange rates? And how many chickens are there to a goat.

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Russia, Ukraine and the Petrodollar

Come Back Mr. Bradford and Mr. Bingley – oh, wait a minute

Not so long ago the Building Societies were a byword for financial probity and stability, the safe place for small savers to deposit their hard earned, where their money would earn a modest rate of interest and help people buy their own homes. The names, The Halifax, Leicester Permanent, The Woolwich and the Bradford and Bingley were about as exciting Even the logos of these august institutions oozed trustworthiness and staid respectability.

Brandford and Bingley
Mr. Bradford and Mr. Bingley, staid respectability or greedy shysters?

Then financial deregulation allowed the big banks to move into the mortgage business and pretty soon we had more scandals that The Old Bazaar In Cairo has sandals. Endowment mortgage mis – selling, payment protection insurance misselling, sub prime mortgages, bankers bonuses and all the rest.

But surely the building Societies were above all this, even if they were now owned by hedge funds controlled by The Cartel.

Or so we thoughtalthough our confidence was shaken when The Cooperative Bank disappeared into a black hole and emerged in the portfolio of an American Hege Fund. Surely though, those old names, those symbols of middle class stodginess were still safe, we thought

Then this story broke:

Probe into bank overdraft fees that cost twice as much as a payday loan

Customers using the Halifax Reward current account and the Santander Everyday Account pay £100 in charges for going £100 into an unauthorised overdraft for a month, equal to an annual percentage rate of 1,200 per cent.

But it would cost £37 to borrow £100 from payday lender Wonga over the same period.

Which also found that customers borrowing £100 over a month with Halifax within an agreed overdraft would pay £30 for the period, giving an effective APR of 356 per cent.

Following an investigation by the OFT, banks have changed overdraft levies from a more traditional interest rate to a daily fee, typically of £1 a day or more, saying it is easier to understand.

But the FCA, which took over regulation of consumer credit from the OFT this month, is concerned that the simpler fees ‘may be a mechanism by which providers are increasing revenue from authorised overdrafts’.

Continue reading:

Good grief. Will Mr. Bradford and Mr. Bingley be caught selling dodgy high income bonds to old ladies next? Scrub that, they already have.

Are We Heading For A Financial Crash? Chief Reptillian Soros Is Betting On It

soros reptillian
Still think talk of a reptillian elite is just for nutters? Picture Source – blogspot commons

Investmentwatch reports that Soros Fund Management, the company run by legendary pantomime villain investor George Soros has doubled up a bet that the S&P 500 SPX is headed for a fall. Soros you may remember vastly increased his fortune by betting against the Thai Bhat in the early 1990s, skillfully manipulating markes so that the Bhat soared and then crashed, a ploy that wrecked the Thai economy.

Last Friday’s Wall Street reports reveled that Soros’ firm had increased a “put” position on the S&P 500 ETF SPY -0.04% derivative by a whopping 154% in the fourth quarter, compared with the third. (A put or short position basically gives the owner the right to sell a security at a set price for a limited time, and in making such a bet, an investor generally believes the security is going to decline.)

Soros has previously highlighted risks coming out of China and drew a comparison with the lead-up to the crash of 2008. Read full story:

Soros once said: “I rely a great deal on animal instincts.” And as we all know, George’s animal instincts have led him to make some big, crazy, winning bets in the past. We all know also that Soros and others in the same business are sociopaths whose psychotic behaviour lends credibility to people who talk of a “reptillian” caste that runs the world.

What does this tell us Boggart Bloggers and our readers? It tells us that our elected representatives are powerless and the world really is run by a wealthy elite who may or may not be part reptile but are total custards*.

And yet if if use the phrase New World Order someone is bound to yell “conspiracy theorist.”

What can you do? Lay in stocks of tinned food, dried lentils and chickpeas and porridge oats, it’s could turn out to be a long, rough ride.

*custard: a person who is simultaneously a cunt and a bastard.

RELATED POSTS:
How George Soros Destroyed The Democratic Party
The Soros Page An omnibus of articles and links concerning the activities of the anti democratic, anti – liberty billionaire george Soros.
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The Fiscal Cliff

Cliff with The young Ones
Picture source:Sorry, I couldn’t find a still of the final scene from The Young Ones TV series where the bus crashed through a picture of Cliff and went over a cliff.

All the huffing and puffing about public spending, deficits and economic collapse is starting to resemble one of those low budget horror movies where you never see the monster, just a shadow on a wall or heavy breathing or a trail of blood drops.

Many people believe there is another financial crisis, bigger than the one that caused havoc in 2008, coming straight towards us, that’s why consumer spending is down and national economies are stagnant. But the authorities all tell us not to panic, they create an illusion of growth by printing money, they keep unemployment statistics within an acceptable range by expanding the public payroll and by statistical prestidigitation but instead of the mayor of Gotham City announcing the streets are safe, Presidents Obama and Hollande, Prime Minister Cameron and Chancellor Merkel are telling us economies are recovering strongly and growth will wipe out the deficits.

As I type, political parties of left and right are butting their heads together over which of their two entirely discredited fiscal policies, Keyneseanism or Monetarism, we should use to rely on to avert a plunge over the fiscal cliff.

Considering the amount of deficit being funded by borrowing they are arguing over what size of Band-Aid should be stretched over the gaping wound when it ought to be obvious that cauterisation and stitches are required. If you mention this, you’re called a right wing extremist, swivel eyed loon, neo – con nut job or even an evil fascist bastard who wants to throw old people to the dogs and deny the underprivileged their inalienable human rights.

“You cupid stunt,” angry, swivel eyed lefties will say, “Don’t you know running a nation is not like running a household. Budgets don’t have to balance, that’s just a right wing misunderstanding. To reduce the deficit you have to borrow more, spend more and allow in more immigrants.”

Politicians have for so long treated tax revenue and government borrowings like Monopoly money they cannot understand why people who cast votes are suddenly talking about the need for real rather than cosmetic spending cuts. In the end however it is a numbers game. And for too long the numbers have not added up. It is sheer folly for the politicians to ignore arithmetic, the numbers game does not have a vote and is favours the well off while politicians who want to be elected know the quickest way to get votes is by talking of equality and fairness and increasing entitlements to unsustainable levels, resulting in vast deficits that can only be covered by borrowing.

In the past century (probably a little less in reality) these politicians, heavily influenced by pressure groups and populist media have grown a long list of goods and services everybody should be entitled to besides food, clean water, clothing, and shelter. The new entitlements, without which people cannot live a full and happy life, include laptop and tablet computers, internet access, mp3 players, smartphones, designer clothes and footwear and access to entertainment. Reality, cruel, heartless, uncompromising reality which only considers the numbers and never peoples’ feelings insists that it is not feasible for everybody to have all those things.

The left says we should abolish numbers and use statistics instead, after all statistics will always give politicians the answer they want. Half of the Conservatives say the same, they have been educated in the same schools and universities as the lefties and have taken on board the same lies.

So while we have the socialists, liberals and “compassionate conservatives” saying, “we must make sure nobody suffers from spending cuts, and while we’re at it we must also find money to feed and clothe the third world poor, buy them computers and smartphones and designer trainers so they do not feel marginalised,” realists are saying, “FFS who pays for all this, we borrow money from the Chinese on which we pay interest, to fund people who can contribute nothing because politicians and corporate leaders exported all the work to China.

We have Quantitative Easing which means government lends money to the banks at half a percent and the banks lend it straight back at three per cent to fund the governments next monthly deficit. The longer this goes on of course, the larger bite interest payments take out of government revenue each month.

And when you look at the numbers involved it’s no wonder politicians don’t want to talk arithmetic. The west is broke, we can’t afford a loaf of bread yet our leaders are only interested in spending cuts of a similar nature to giving up the plan to buy a Rolls Royce and getting a Lexus instead. And they trust the “scientists” who tell them if you torture data enough, 2 + 2 can be made to equal 5.

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The Beautiful Scam Behind the Stock Market Chaos

stockmarketcrash
Picture Source: philip9876.com

The Dow Has Already Fallen More Than 1000 Points From The Peak Of The Market
The Financial Markets are a beautiful scam. Take a look at what has happened in the past few days in the context of market activity over the past year and then I’ll tell you how the scam works.

“On Monday of this week the Dow Jones Industrial Index was down 326 points. This followed sharp falls towards the end of last week. Overall, the Dow dropped more than 1000 points from the peak of the market (16,588.25) back in late December.”

The Economic Collapse blog said this:

“This is the first time that we have seen the Dow drop below its 200-day moving average in more than a year, and there are many that believe that this is just the beginning of a major stock market decline. Meanwhile, things are even worse in other parts of the world. For example, the Nikkei is now down about 1700 points from its 2013 high. This is causing havoc all over Asia, and the sharp movement that we have been seeing in the USD/JPY is creating a tremendous amount of anxiety among Forex traders. For those that are not interested in the technical details, what all of this means is that global financial markets are starting to become extremely unstable.

Unfortunately, there does not appear to be much hope on the horizon for investors. In fact, troubling news just continues to pour in from all over the planet. Just consider the following…

Read all …

Now unfortunately to some people the word market has become a sacred cow in the way that words like gay, lesbian, black, equality and disadvantaged have to others. The fact is financial markets have little to do with free markets. The financial markets are and always have been the most tightly controlled and heavily manipulated area of international commerce.

Since the 2008 crash the global economy has stagnated, even China’s economic miracle is stalling. As John Steinbeck told us, “The monster has to grow or it will die, and if the monster is to grow it must be fed.” The question is how do we feed a growing monster when the food supply is static. And the answer unfortunately is that the monster must be allowed to steal our share of the food supply.

After recovering gradually from the 2008 crash, stocks finally returned to pre crash levels sometime last year (or maybe late in 2012, I don’t keep statistics. At that point the monster was close to starvation. And so the store of food in the larder had to be made to look greater than it was.

How is that done? Traders working for the big banks start to force up prices by holding stocks and only releasing a trickle to be traded. The media play their part by hyping positive economic news and creating the impression that economies are growing strongly. Prices start to go up and everybody wants a piece of the action. Fund managers pile in although they understand how the game is played, so your savings and pension funds are invested and eventually individual small investors are sucked up in the tsunami of false confidence.

Then comes the point where the big investors have taken as much as they want out of savings and pensions. Sell, sell, sell, the cry runs round the market and the pre planned panic takes hold. Fund managers are first to offload stocks and get into cash or bonds, small investors cannot react as quickly and are hit hardest. The market goes through what is euphemistically known as a ‘correction’ and when it bottoms out the big investors quietly start to buy up stocks again, ready for the next bubble.

If you are not one of the people being hit there is a certain poetic beauty to it really.

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Now That’s What I Call French Elan

David Cameron’s problems after almost three years as Prime Minister are dwarfed by the tsunami of upshitcreeekness threatening to drown the Presidency of Francoise Hollande after less than a year leading France.

Hollande was already deep in the merde with his poll rating reduced to a mere 25 per cent, before a political cesspit exploded in his face last Tuesday as it was announced unemployment is rising towards an all-time high of 11 per cent and the economy has stalled at zero growth.

A volatile, confrontational anti Europe, anti – Hollande mood, could be felt spreading among the French people from the political extremes to the bourgeois right. Then, just when it seemed things could not get any worse, Hollande’s former budget minister, Jérôme Cahuzac, the man responsible, until last month, for supervising spending cuts and implementing austerity measures as well as overseeing a campaign against tax evasion, admitted that he had been cheating the taxman for two decades by placing large sums in undeclared foreign bank accounts.

Still, you have to admire the French for their style. The best our lot could do by way of financial scandal was claiming a duck island on expenses.

MORE FROM THE GREENTEETH STABLE
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Oh dear – I wish I had been kinder to the Nigerian Finance Minister

For years I callously ignored entreaties from the Nigerian Finance Minister who was pleading with me (and other equally ruthless, selfish, greedy bastards I believe) for help in urgently releasing funds.

If only I had know the real reason the minister needed access to my bank account i might have been more receptive to the pleas. but alas until I saw this news story today my eyes were closed.

Mother of Nigeria’s finance minister freed
Nigerian kidnappers freed the mother of the finance minister after she was abducted from her home in a crime that shocked the country.

Details of the release were unclear and there was no indication of whether or not a ransom was paid to free the 82-year-old Kamene Okonjo, whose daughter Ngozi Okonjo-Iweala is finance minister. However as Mrs. Okonjo still had all her bodparts intact it’s reasonable to assume the money was paid.

“She has been freed,” police spokesman Frank Mba told AFP. “She is in good health.” He declined to provide further details other than to say that she was freed earlier Friday.

One local television station reported that she had been dropped off from a motorcycle on Friday morning, but the information could not be immediately confirmed.

Kamene Okonjo was abducted Sunday at her home in the Delta state where ransom kidnappings occur regularly.

Earier this year Okonjo – Iweala was a strong candidate to head the world bank but mysteriously dropped out of the running at about the same time those e-mails stopped arriving. Seems obvious to Boggart Blog she had her fingers in the till.

The Bonnie Banks O’ Scotland Can Be Found Elsewhere

Not so much having a break today as a change of scenery. I have stated before that one of my favourite poets is William Topaz McGonagall, reputedly the worst poet ever published in the English language.

McGonagall had not appreciation of rhytm or meter, no understanding of metaphor and little feeling for language. But he loved poetry and he loved Scotland. So as the financial crisis juggernaut rumbles on it was a good time to open up my little used comic verse blog and post:

The Bonnie Bonny Banks O’ Scotland in the style of William McGonagall.

Enjoy.