Tag Archives: markets

You have less money to spend because of inflation and interest rate rises. Why are markets shocked?

The Bank of England: why is it raising interest rates to fight inflation that won’t exist by the time the changes begin to take effect?

Interesting thread from Richard Murphy, explaining why you have less disposable cash – and questioning why the markets are so shocked about it:

Comments?

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If you see ARMED POLICE while out Christmas shopping, what will you think?

This is what seems to happen when police meet the public in any appreciable number. What do you think will happen when they’re armed?

Apparently this is serious:

Armed police and plain clothes officers will patrol Christmas markets in the UK so festive shoppers can feel safe.

Due to strict lockdown rules Christmas markets were cancelled in 2020 so festive events this year are expected to attract thousands of tourists.

Police have confirmed armed officers will be deployed to a vast Christmas market in Manchester city centre.

Greater Manchester Police said the officers will be there “in order to ensure those attending the markets feel safe”.

If I see armed police staring at me when I’m out Christmas shopping, I[‘m not going to feel safe.

And, far from encouraging me to visit Christmas markets, their presence is more likely to make me stay away.

Even if they are genuinely there to ensure safety, they’ll make us feel that their purpose is to intimidate us.

And that’s what counts. Right?

Source: Armed police will patrol Christmas markets in the UK ‘to make shoppers feel safe’ – Mirror Online

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Johnson told to drop parts of plan to break international law – after Lords defeat

It seems Boris Johnson is living up to his new nickname as a #ShapeShiftingCreep once again.

He has just suffered a major defeat in his plan to break international law – contradicting his own EU Withdrawal Agreement, signed in January – after the House of Lords carved huge chunks out of his Internal Markets Bill before sending it back to him:

According to the Huffington Post:

Peers voted by 433 to 165 to strip out clauses in the Internal Market Bill which would allow the UK to renege on its obligations in the withdrawal agreement signed with the EU.

The defeat, one of the largest of any government in the Lords since hereditary peers were slimmed down in the 1990s, means that Johnson will have to weigh up whether to reinsert the clause in the House of Commons next month.

In another overwhelming show of strength, the Lords also voted by 407 to 148 to remove any breach of the northern Ireland protocol in the EU withdrawal treaty.

Senior Tories went on to tell Johnson his best course of action is to “quietly drop” those parts of the Bill that the Lords have excised.

The Evening Standard said Tories including Theresa May’s ex-chief of staff Gavin Barwell, former chancellor Ken Clarke and former Conservative Party leaders William Hague and Michael Howard all voted against Johnson’s government:

Lord Barwell told the Standard: “I don’t see any positives that come from those clauses.

He said the clauses were affecting the UK’s ability to get a trade deal with the EU and “rule out” any possible trade deal with the US while “damaging relations” with the new Joe Biden administration [in the United States].

After the vote, Johnson’s government insisted it would not back down and would re-table the clauses when the bill returns to the Commons in December.

Ah… but then there was the issue of Joe Biden. The new US president, who claims Irish ancestry, has said he will take an extremely dim view of any UK legislation that harms the Good Friday Agreement that brought peace to Northern Ireland.

And it seems certain that he would have made that clear when Johnson telephoned to congratulate him on his win in the presidential election:

Johnson now faces a hard choice: reinstate the controversial – illegal – clauses and face the wrath of Biden, or quietly let them drop and face ridicule here in the UK.

He is a weak prime minister – who allows public perception to sway his decisions. I think we all know how this will end.

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EU to begin court action after Johnson misses deadline to explain international law breach

Self-satisfied: Boris Johnson sat speechless but smirking when Ed Miliband ripped apart his justifications for breaking his own treaty. Johnson doesn’t care about the law. He doesn’t care about what breaking it will cost because he won’t pay. You will.

The fact that he couldn’t even be bothered to respond to a ‘letter before action’ from the European Union demonstrates Boris Johnson’s contempt for the law – and the reason he should not be a member of Parliament.

Johnson’s Internal Market Bill (which is still not yet a law) breaches his own EU Withdrawal Agreement, that he signed in January.

If made law, the Bill would overrule the withdrawal agreement Johnson signed, by banning border checks on goods moving from Northern Ireland to Great Britain which are set to commence under the agreement from 31 December.

Johnson had signed up to the union’s customs code to get a deal, but now says Britain should be exempt from parts of it.

The European Commission confirmed on Tuesday that the deadline to respond to the letter has now come and gone without a UK response, meaning the court action against the UK will move to the next phase.

Tory government ministers have already admitted in parliament that the bill will break international law, but say the policy is justified because the law would only be broken in a “limited and specific” way.

We’ll see how that argument plays out in court. Badly, This Writer would expect. After all, a burglar breaks the law only in a “limited and specific” way, by breaking into people’s houses and stealing their belongings. If he’s prosecuted for it, he’ll still end up in prison.

To UK readers: how does it feel to be living in a rogue, outlaw state?

Source: Brexit: Boris Johnson misses EU deadline to explain breach of international law | The Independent

Braverman’s disgrace is Johnson’s shame: attorney-general defends law-breaking with nationalistic nonsense

Suella Braverman: her latest appearance in the Commons made her look like a child showing off in front of her elders.

Suella Braverman has once again provided ample evidence to support her removal from the post of Attorney-General.

See if you can watch her ridiculous response to Labour’s shadow solicitor general Ellie Reeves without feeling the bile rise:

All Ms Reeves did was to ask what Braverman had done to defend the rule of law, considering that the Johnson government intends to break it – at an international level – with its Internal Markets Bill.

So why did Braverman start her answer by accusing Reeves of being “emotional”? Was she just throwing a dead cat on the table at the start, because she knew she didn’t have anything to say for herself?

Braverman went on to say that the Bill “protects our country and it safeguards the United Kingdom of Great Britain and Northern Ireland”, which is saying the same thing twice without explaining why.

Then she appealed to patriotism – the refuge of the jingoistic airhead. There is nothing patriotic about breaking the law. Quite the opposite, in fact.

“How can she call herself an MP,” demanded Braverman, “and at the same time vote against a Bill that defends the unity of our country…”

It doesn’t.

“… maintains peace in Northern Ireland…”

It won’t.

“… and enables the United Kingdom… to thrive.”

It can’t.

The breach of international law means other countries will not trust the UK and will not want to do business here. Already the US Congress has indicated that it will not support a free trade agreement with the UK if the Internal Markets Bill is approved.

And the body language defies belief. Methinks the lady doth protest too much, as Shakespeare once wrote.

Reeves’s response was restrained, under the circumstances.

Others have been less so:

The SNP’s justice spokesperson went further than Ellie Reeves – he called for Braverman’s resignation over the plan to breach international law.

In response, she actually said it was lawful to break the law. See for yourself:

It isn’t.

It might be possible to do it – to pass a law that makes a breach of international law inevitable – but that doesn’t mean that it is permissible to do so.

Stuart C McDonald is therefore entirely correct: Braverman should resign.

She won’t – but she should. The fact that she is in that post at all is a shows Boris Johnson’s contempt for the law.

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Former PM rips into Internal Market Bill: ‘So much for global Britain’

What a face: Theresa May’s expression shows exactly how she feels about Boris Johnson’s idiotic, selfish and destructive Internal Markets Bill.

Former Prime Minister Theresa May has made a devastating intervention on her successor’s Internal Market Bill, attacking the reasons it has been drafted and its effect on the integrity of the United Kingdom, and questioning whether any other country will trust the UK again.

In a debate on the Bill on Monday afternoon (September 21), she raised several important questions, starting with this:

Clauses 41-45 of the Bill refer to customs arrangements in Northern Ireland. Boris Johnson signed the EU Withdrawal Agreement in January, accepting that NI would remain under EU tariffs and effectively placing a customs border in the middle of the Irish Sea. Now he wants to renege on that.

Mrs May was critical:

And she makes an excellent point.

Her final point was better still – that the circumstances in which the UK chooses to break international law won’t matter to people in other countries; they’ll only see that the UK has broken international law and won’t want anything to do with a rogue state of that kind:

Her conclusion was a devastating blow – not only to the Internal Markets Bill but to her successor, Boris Johnson: “This is a country that upholds the rule of law. That is one of the things that makes us great; it is one of our characteristics… yet we are being asked to tear up that principle and throw away that value. Why? I can only see, on the face of it, that it is because the Government did not really understand what they were signing up to when they signed the withdrawal agreement.

“Frankly, I find it difficult to understand how any Minister can go through the Lobby to support these clauses.

“I consider that… the Government are acting recklessly and irresponsibly, with no thought to the long-term impact on the United Kingdom’s standing in the world. It will lead to untold damage to the United Kingdom’s reputation and puts its future at risk.”

Wow.

It won’t make any difference, of course.

If Boris Johnson was able to gull more than 300 Tory MPs into voting for his Withdrawal Agreement in January, and then to vote against it in September, then the word of a former prime minister won’t stop them doing whatever he wants.

They would probably shoot themselves through the lung if he told them to.

Effectively, that is exactly what they are doing – and the rest of us, too.

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David Cameron regularly broke international law when he was prime minister. Why the change of heart now?

 

Legacy: this spoof heritage plaque gives a very good summation of David Cameron’s role in the UK’s ongoing Brexit disaster. Why should we take any interest in his views now?

He’s saying the right thing – but for the wrong reasons, and it is still a grotesque act of hypocrisy.

I refer, of course, to former prime minister David Cameron, who regularly, during his time as prime minister of the UK, broke international law but is expressing concern at Boris Johnson doing the same now.

You don’t remember? Allow me to remind you that the United Nations ruled that Cameron’s government broke the law to deliberately harm people with disabilities.

And he broke international law to attack Libya too.

The UN launched its probe into “grave and systematic violations” of the human rights of people with disabilities in 2014, when Cameron was prime minister.

It reported in 2016 – after he had quit (and we’ll get into those details momentarily). The findings showed that austerity policies introduced by Cameron’s government had systematically violated the rights of people with disabilities.

That is an offence in national and international law. The Cameron government had already signalled an intent to repeal the Human Rights Act and withdraw from the European Convention on Human Rights that the UK created, possibly in order to dodge this finding.

Boris Johnson’s renewed plan to cut human rights legislation out of the statute book signals that he intends to continue this illegal persecution of people with disabilities. Oh, did you think it was about nailing refugees who have been abusing the law to stay in the UK? Now you know better.

The attacks on Libya took place before Vox Political‘s time but I offer this as an example of commentary explaining why the Cameron government was breaking international law – and, indeed, human rights law – by participating.

So it seems out of character for Cameron to come back from the wilderness after four years and attack Boris Johnson for planning the same:

“Passing an Act of Parliament and then going on to break an international treaty obligation is the very, very last thing you should contemplate. It should be an absolute final resort, so I do have misgivings about what is being proposed,” he said.

It shouldn’t even be a last resort, as others have pointed out:

It is an entirely fabricated threat – indeed, it is one that Boris Johnson created himself. He came up with the EU Withdrawal Agreement that put a customs border in the middle of the Irish Sea. He campaigned for it in a general election and all his current Tory MPs did the same. And he signed it in January.

So it is nonsense for him to turn on us all now and say it is vital to change the terms of the agreement – and all his MPs should be opposing him, not just the few who have so far put their noses above the parapet.

And let’s not forget that Cameron is the man who is most directly responsible for the entire Brexit mess.

He launched the EU membership referendum – it was part of his election manifesto in 2015 – in an attempt to keep the Conservative Party from splitting.

He thought the vote would result in the UK remaining in the EU, silencing Eurosceptics in his party. He was wrong. The public narrowly voted to leave (admittedly on the basis of a stream of lies from Brexiteer campaigners including Boris Johnson). That has led us to where we are now.

And he didn’t even save his party from splitting. Some Tories quit voluntarily to join the ill-fated “Change UK – the Independent Group” or whatever it ended up calling itself. Others were forcibly thrown out by Boris Johnson when they refused to support his withdrawal agreement.

That’s the very agreement he is now saying is not acceptable, by the way.

So don’t let David Cameron’s words influence you.

He put the UK into this mess.

Source: Brexit: David Cameron joins all living former PMs in condemning Boris Johnson’s plan to break law | The Independent

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Johnson’s first Attorney General condemns his plan to betray EU withdrawal agreement

Geoffrey Cox: the former Attorney General is pointing the finger of accusation at Boris Johnson.

That’s scuppered the claims that the row over Boris Johnson’s plan to break international law is a last gasp of the so-called ‘Remainers’, then.

Geoffrey Cox – a devout Brexiter – was Attorney General when Boris Johnson signed his EU withdrawal agreement in January.

His announcement that he will not support Johnson’s Internal Markets Bill is proof that the controversy extends much further than the established battle lines.

The story broke in The Times, which is behind a paywall. However, the East Fife Times has this:

Boris Johnson’s former attorney general, Geoffrey Cox, has said it would be “unconscionable” to override the Brexit divorce deal.

The Tory MP said there is “no doubt” the “unpalatable” implications of the Withdrawal Agreement were known when the Prime Minister signed it, a time when Mr Cox was the chief law officer.

So he should know!

He stated:

And he threatened worse:

The Brexiteer warned he would not back the UK Internal Market Bill unless ministers dispel the impression they plan to “permanently and unilaterally” rewrite an international agreement.

[He] said tariffs and customs procedures on certain goods entering Northern Ireland from Britain were part of the deal.

“There can be no doubt that these were the known, unpalatable but inescapable, implications of the agreement,” he wrote in The Times.

He said if the powers in the Bill were used to “nullify those perfectly plain and foreseeable consequences” then it would amount to the “unilateral abrogation of the treaty obligations”

Cox said ministers could use “clear and lawful” options under the withdrawal agreement to remedy their concerns that food imports may be blocked from Britain to Northern Ireland – or, “in extremis”, take “temporary and proportionate measures” via independent arbitration.

“What ministers should not do, however provoked or frustrated they may feel about an impasse in negotiations, is to take or use powers permanently and unilaterally to rewrite portions of an international agreement into which this country freely entered just a few months ago,” he said.

It seems he also said this:

But the article also points out:

The QC… was attorney general during the unlawful suspension of Parliament.

That’s right; Boris Johnson prorogued Parliament illegally – and lied to the Queen in order to do it.

It seems Cox has had enough of such illegalities – and his words carry weight on the Conservative benches in the House of Commons.

They are also carrying weight on the social media:

Johnson and his people are desperately trying to play down the implications of their plan, but nobody is being fooled.

There may be more than verbal fireworks in the political news this week.

Source: Ex-attorney general strikes out at ‘unconscionable’ plan to override Brexit deal | Central Fife Times

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The Bar Council has laid into Suella Braverman so let’s all join in

Suella Braverman: She has made some knowledgeable enemies who may soon wipe that idiotic grin off her face.

The UK’s professional organisation representing barristers has accused Brextremist Attorney General Suella Braverman of sacrificing the UK’s reputation, sidelining legal advisers and bypassing the ministerial code.

At its annual general meeting, members of the Bar Council asked Braverman how she thought the UK’s Tory government could retain “a shred of credibility” in imploring other countries to follow international law after revealing its own willingness to breach agreements.

Here’s The Guardian with details of the festivities:

Five QCs confronted the attorney general during Saturday’s meeting, telling her that a crime which broke the law in a “specific and limited way” – the phrase used by the Northern Ireland secretary, Brandon Lewis, when he announced the move – was still a crime.

Asked if she believed ministers were breaking the ministerial code with the legislation, Braverman on Saturday dodged the question by stating that the code was not legally enforceable. Pressed, she suggested the cabinet secretary had ruled that the code would not be breached.

She was also confronted over why she had sought advice on the measures from three pro-Brexit legal figures, including one junior barrister who had worked with the Vote Leave campaign, rather than relying on senior government lawyers. She refused to disclose the advice she had received, but said that seeking external opinions was not unusual.

Braverman was asked what had changed since former justice minister Lord Faulks stated in 2015 that ministers would not breach international law. She said his statement reflected “government policy at the time”.

The proposals were needed to resolve tensions between domestic and international law created by the EU withdrawal agreement, she said, but the government remained “committed to the rule of law”.

Of course this is not true. A government cannot expect to be believed when it claims to be “committed to the rule of law”, after also committing itself to breaking the law.

We could never expect better from Braverman; she is used to breaking the rules.

Back in 2017, when the European Research Group (ERG) “party within the Tory party” was set up, she was its chair. It was funded illegally, with money from members’ expenses claims (expenses rules state that MPs cannot claim for research or work “done for, or on behalf of, a political party”, but by September 2017 the European Research Group had received more than £250,000 from MPs who claimed the public cash through their official expenses).

After she became a minister in the Department for Exiting the European Union, she remained a member of the ERG, even though the ministerial code prohibits ministers from becoming “associated with non-public organisations whose objectives may in any degree conflict with government policy” – as the ERG’s did at the time.

Neither she nor any of the other then-ministers who were also in the ERG were penalised, which may go a long way towards explaining why she believes she can tell the Bar Council she is above Parliamentary rules.

In March 2019 she was accused of using anti-Semitic language by stating that “As Conservatives, we are engaged in a battle against cultural Marxism”. This refers to a far-right-wing anti-Semitic conspiracy theory which identifies Western Marxism as the basis of an ongoing academic and intellectual movement to undermine and destroy Western culture and values. Challenged over this, she dismissed the idea, stating “We have culture evolving from the far left which has allowed the snuffing out of freedom of speech, freedom of thought…I’m very aware of that ongoing creep of cultural Marxism, which has come from Jeremy Corbyn.” So either she didn’t understand what she was talking about or she is a genuine anti-Semite who used opposition to Jeremy Corbyn to co-opt support from the Board of Deputies of British Jews, which withdrew its accusations against her.

And now we have her vain attempt to justify breaking international law, as described by This Site here.

The reason she thinks she – and the Johnson government – will get away with breaking international law is easy to understand in the context of her career.

She is an extremist Brexiteer who chaired a pressure group that was funded illegally – but still went on to occupy a role shaping government policy on Brexit; she voiced anti-Semitic sentiments – whether knowingly or not – but got away with it by claiming that she and her challengers had a mutual enemy in Jeremy Corbyn.

Based on this past behaviour, she thinks anyone opposing her on this can say what they want but it will not stop her from having her way.

Well, that has yet to be proved.

She may think she is sure of her ground but the Guardian article quotes a groundswell of opposition within the Parliamentary Conservative Party that could pull it out from under her feet.

And the Bar Council won’t be as easily swayed as the partisan Board of Deputies. Already there are murmurings about court action to forbid her from breaking international law in any way, not just the way she has described.

I look forward to seeing her get her comeuppance. It will be well-deserved.

Source: Top lawyers slam Suella Braverman for wrecking UK’s reputation | Politics | The Guardian

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Going, going, Gove: the Tory hypocrite who’ll break international law but demands we obey his ‘Rule of Six’

Spitting Image: Michael Gove’s likeness on the new version of the satirical comedy appears to have certain male genital organs for cheeks – which is entirely appropriate as he was talking a lot of b*ll*cks on TV today.

Michael Gove appeared on breakfast TV, to demand that we all – including our children, obey his government’s new prohibition of social gatherings of more than six people.

Why should we obey this, when he went on to admit that the government itself will break international law and turn the UK into a rogue state that no other country will trust?

I don’t have a clip of him calling on us to obey the ‘Rule of Six’ – which is a stupid demand that won’t stop the now-uncontrollable spread of Covid-19 because it does not target the causes of that spread.

If our friends and family had Covid-19, we would have already caught it, so going out with them makes no difference.

We are still legally allowed to go out on our own and sit in pubs and restaurants that are packed with strangers – any or all of whom may have the virus – but the new rule does not take this into account.

Here’s a link to an article in which Gove accepts responsibility for this act of criminal stupidity:

do have a clip of Gove voicing his support for unqualified Attorney General Suella Braverman, whose defence of Boris Johnson’s decision to break international law by reneging on the EU Withdrawal Agreement in his Internal Markets Bill was comprehensively destroyed on This Site, only days ago. Here he is:

Here’s the appropriate response:

Gove also said the EU was “threatening the integrity of the United Kingdom” by demanding that Boris Johnson honours the withdrawal agreement he signed in January.

Oh, really? That’s not what the Tories said at the time…

… and nobody was fooled by this blatant bid to gaslight the nation:

In fact This Writer can only fault the Twittersphere on one point: those who accused Gove of turning blond to acknowledge his Aryan/fascist/Nazi supporters appear to be colourblind.

His hair has gone grey. And I’m not surprised.

Have YOU donated to my crowdfunding appeal, raising funds to fight false libel claims by TV celebrities who should know better? These court cases cost a lot of money so every penny will help ensure that wealth doesn’t beat justice.

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