This is a story about the rich:poor divide...

Theresa May, the British prime minister, had the gall to lecture the poor on living within their means. In actual fact, the poor are working hard and just trying to keep up with the wealthy, who are racing ahead.

If you look at the Instagram account called Rich Kids of Instagram you will see that it is extremely popular. 'Reality' TV shows that have followed mega-rich people like Ozzy Osborne and family, the Kardashians and the cast of Made in Chelsea, are some of the most viewed and talked about things on television. Wealth worship is everywhere, and is it wrong for people to feel that they deserve a little of the life that is rammed down their throats by the media?

When we are talking about living within our means, this is coming from politicians who spend 6-figure sums of money each year on expenses alone, while also pocketing salaries that are many many times more than the average wage. The problem comes right from the top. The more that rich public figures splash their cash, the more the hypocrisy is insulting when they tell the poor to tighten their belts.

How many people on council estates are driving Ferraris that they can't afford the repayments on? How many hardworking families have ordered yachts that they now can't afford to pay the remaining balance on?

When we talk about living within our means, we are talking about people who are quite familiar with budgeting, make do and mending, and the general attitudes of postwar austerity. Really, when talking about living within our means, we should be talking to the banks, who recklessly endangered their financial stability by not living within their means in terms of their ability to maintain solvency. It's the banks that are insufficiently capitalised and are excessively over-leveraged. It's the banks that have lent many, many, many times more money than their reserves allow, in the pursuit of endless effortless profits.

When a person borrows money, they intend to repay that money using hard work. The borrower will go to their job every day, and be productive. In return for a person's hard work - productivity - they will receive their salary, with which they will buy the things that they need and repay their debts.

When a banker lends money, they intend to profit for no labour at all. Through interest slavery, the banker will make money, simply because they already have money. Using the money multiplier - fractional reserve banking - the banker will in fact be able to lend the same money, over and over and over again, multiplying the amount of effortless interest that is earned each time.

It is the banks who are not living within their means, nor being hardworking or productive in any way. It is the banks who have decimated global finances, and are now demanding that the hardworking people accept austerity, pay freezes, job insecurity, unemployment and low growth, simply because they overstretched themselves in pursuit of yet more effortless and labour free income for doing absolutely nothing.

Let's imagine that a banker, with zero money of his own, is paying a generous interest rate of 0.25% on deposits - exactly the same as the Bank of England. Using a fractional reserve of 5%, which is the minimum requirement for today's stress-tests of banks, to make sure they're adequately capitalised in the event of another credit crunch, that means the banker can multiply a £1,000 deposit into nearly £19,000 worth of loans. Obviously, the loans carry a hefty interest rate. Let's imagine that the banker lends out the £19k as overdrafts, which often carry a 20% APR on the high street. In a year, the banker will now net nearly £4,000 of profit, for doing absolutely nothing, out of just a £1,000 deposit. That's a 4 to 1 ratio! For every £1 deposited with Utter Bastard Bank Plc, they're going to make nearly £4!!

So, while the poor toil and tighten their belts, buying the cheapest groceries they can and cutting back on every expense, the banks are getting fat for doing absolutely nothing at all. Interest slavery is a con and a crime, and the perpetuation of this situation is the only reason why ordinary hardworking people are having to suffer NHS cuts, crowded public transport, packed classrooms, pay cuts, redundancies and every other economic penalty for the bankers' failure to live within their means.

Yes, we'd all like to make money while we sleep. Yes, we'd all like money for nothing. However, a bank is just utter bullshit. A bank is supposed to be an instrument to grease the wheels of commerce, not a massive leech, sucking so many pounds out of people's pockets, for every penny they leave in their bank accounts.

And, when you're richer, the things that go wrong in your life are mere pocket change. Let's look at a person who earns £20k, versus a banker who earns £200k, i.e. a 10 to 1 ratio:

• Parking fine £50... costs the banker £5
• Car breakdown £500... costs the banker £50
• Need a new central heating boiler £3,000... costs the banker £300
• Private school fees £12,000... costs the banker £1,200
• Food £300... costs the banker £30
• Holiday £700... costs the banker £70

Imagine if your budget used the values that the banker pays. They're a much smaller percentage of your income, aren't they? Life would be a lot easier if everything cost 1/10th of what it does. Well, guess what, the banker pays exactly what you pay, except they earn 10 times as much, so the two things are equivalent.

Everybody's car breaks down from time to time. It's a fact of life. In fact the shitty old unreliable banger that the poor family bought, is much more likely to break down than the brand new BMW that has a warranty, that the banker bought.

Once you've got money, you can keep it and you can make some more. If you haven't got any, no amount of living within your means is going to improve your situtation. It's a con. It's utter bullshit. It's a swindle.

When the banks in Italy start to fail, and cause a domino-like collapse of all the banks across the world in a re-run of the 2007/08 financial crisis, except much, much worse, it will become apparent that all of the suffering that ordinary people have gone through in order to rescue a deeply flawed banking system, was for nothing.

I think people are going to be pretty angry when they realise that patronising idiots like Theresa May arrived in their positions of power by luck not good judgement. I think people are going to be pretty angry when they find out that the good times never stopped in the City of London, and pay rises and bonuses are just as big as they ever were, while all the hardworking ordinary people suffer the consequences of propping up a broken and corrupt system.

It's time to smash the system, and rip it out of the hands of a psychopathic elite who would have us starving and dirty, living on the streets, if it meant they could maintain their ill-gotten position of wealth, power and domination.

What's the difference between a successful banker and a struggling worker? Absolutely fuck all, apart from pure dumb luck, but those arrogant fucks don't even realise how fucking hypocritical and patronising they are when they accuse other people of being underachievers, having been profligate and poorly mismanaged their finances, and having not worked hard enough.

It incenses me, that a tiny handful have such unimaginable wealth, when so many billions live in abject poverty. Just 62 people have as much money as 3.6 billion others. There is so much that is wrong with that. Off with their fucking heads!

Tags: #banking #capitalism #politics

This is a story about profit...

If you work in a free market capitalist economy, the company you work for is run for maximum profitability. In order to maximise profits, a company will have the fewest possible admin staff it can, to keep overheads low, whilst also having as many revenue generating staff members as the demand for the company's products and services can support. There are no jobs that are created, solely for the benefit of the employee.

Think about it: if you were to quit, the things that you do wouldn't be getting done. If you're in an administrative function, perhaps that means bills not getting paid, invoices not being issued or regulatory requirements not being met. Sooner or later your business is going to get shut down if it neglects its backoffice functions. If you're in a sales function, that means less revenue for the business. Less revenue means less turnover, which lowers the company's valuation, making it harder for them to raise money for expansion. Less revenue means lower profits, meaning less champagne at the shareholders' annual meeting and tough questions asked of the board of directors.

Your salary is a payment for your time. Your time is then used to enable the company to continue to trade, or to make it directly more profitable. Your salary is offset by profits. Your salary is not a gift, out of the kindness of the heart of your boss. Your salary is way less than the profit that somebody else will pocket, for your efforts. Your salary is a price worth paying because the things that you do while at work will generate more money than it costs to employ you.

The business of employing people, is the process of getting somebody to do something instead of you doing it, but you get to keep a proportion of the fruits of their labour. The profit generated is many, many times more than the cost of the wages.

And so, we have described the ragged trousered philanthropists. It is the workers who are generously donating the vast proportion of the fruits of their labour, to an idle wealthy elite who employ them. The wages of those who toil at the bottom of the pyramid scheme, are inadequate to pay for high quality housing, the education of their children and nutritious food. Instead, the people who pick your vegetables and build your houses, and generally give themselves arthritic joints, bad backs and knackered knees, are left with ill health and a pittance of a pension when they are so overworked that they can no longer remain in the workforce.

But, we are told, you should count yourself lucky to have a job!

Lucky? Lucky? Oh, how terribly fortunate that I have enabled members of the board of directors to buy another yacht, or to purchase another rare artwork to hang on the walls of their mansion. La-de-da, how lucky I am to have been able to plump up the trust funds and offshore bank balances of rich shareholders.

But, there's nothing to stop the likes of you or I from quitting our jobs, and starting our own companies, is there?

Well, there are economies of scale and there are monopolies. Certain businesses will not be very profitable for the likes of you or I, because they have a low gross margin. When a company grows very large through acquisitions, swallowing up all of its competitors, it is better placed to capitalise on a market, because it's a dominant player. Also, the cost of administrative, legal and tax obligations as percentage of the overall running costs, is much lower for the very large company, which makes it more profitable.

When a company becomes very large indeed, it is even able to headquarter itself in a country with a favourable tax deal, so all the wealth that is generated by those ragged-trousered philanthropists, flows out of the country where they live and work, so even their public services become deprived of their vital cash.

Yes, you must consider yourself lucky to be able to have grown your company so large that it is able to cheat even the government out of the taxes that would pay for higher quality housing, healthcare and eduction, that would at least be some recompense for the fact that you see such a tiny share of the profit that you generate.

But don't companies offer their staff share options, and bonuses? No. These schemes are just scams to buy your loyalty cheaply. Share options cost far less than offering an attractive salary that would keep you with the company. When you really look into how much money you're going to make when you can finally exercise the options, you will see that your employer has bought your loyalty extremely cheaply.

The pips have been squeezed too much, and the wealth has not been shared. Large companies have not made the societal contributions that we must all make - taxes - to prevent the ordinary workers from suffering a drop in living standards. Education, healthcare, public transport, housing: these things are all chronically underfunded, while the mega-rich are opulently wealthy, living in a totally different world from those who toil tirelessly to add yet more zeros onto obscene bank balances.

It's time to soak the rich, not be grateful for our jobs.

Tags: #capitalism #banking #politics

This is a story about information technology...

In the beginning, there were sticks and rocks and maybe bits of vine. Perhaps there was some clay, and with fire, there came pottery.

There was the iron age, where metal tools were made, like the scythe, which led to greater agricultural yields.

The industrial revolution brought us steam power, and the use of coal as a source of vast quantities of energy far outstripped what could be achieved with horses and manpower.

Two world wars meant huge advances in factories and mass production, meaning that many more goods could be manufactured than would ever be needed by humanity. There are 62 Lego bricks for every man, woman and child on the planet.

Industrial chemistry - such as the Haber process - can produce vast quantities of fertilisers and pesticides, to give us food surpluses that are capable of adequately feeding every member of the human race.

The loom, which has been improved beyond all recognition to give us today's weaving and knitting machines, is now producing enough textiles that even the very poorest are able to wear garments that are recognisably 'fashionable'.

Medicine and surgery has advanced to the point where injuries and infections are now largely survivable. Germ theory, soap, disinfectant and antibiotics protect us from microbes, while chemotherapy, radiotherapy and surgical interventions can often save many patients with different types of cancer.

The jet engine has shrunk the globe. People hop from continent to continent as if they were catching a train to work, and even the steam-powered locomotive is a relatively recent nation-shrinking innovation. With the intermingling of different cultures, the world's leading universities are able to share their top scholars and the very best ideas and research are circulated throughout academia.

But what of information technology?

Has the information age fulfilled its promises? As a young boy growing up in 1980s and 1990s Britain, I used to enjoy watching a BBC television program called Tomorrow's World. Many of us living in the postwar age of optimism and hope for the future, imagined a world filled with robots and hovercars. Where the fuck are they?

When I turn up at one of the railway stations that the Victorians built, instead of buying a ticket from a real person, I buy one from a robot. Except that this ticket machine still needs a real person to come along and extract the cash that it has collected in its hopper. The ticket machines still need a person to come along and replenish the spool of blank tickets, ready to be printed. Is there really much labour being saved?

Train travel in London is a particularly hot topic. When I travel on the Docklands Light Railway, the train is driverless. However, there is still a person on board to close the doors and check tickets. Tube drivers are unable to drive through a red signal without the train brakes being automatically triggered, but yet, we still have human drivers to tell us to stand clear of the doors and mind the gap [between the train and the platform].

We've all seen pictures of futuristic factories where robot arms are welding automobile bodies together, or spraypainting. The pictures of those robot arms have been standard stock footage of the factories of the future for my entire life. But yet, at the old car factory in Oxford - near where I grew up - BMW still have armies of people screwing Minis together by hand in a big production line. Surely, that can't be right, can it?

At the end of the day, computers aren't much use for anything, are they?

Quantum Mechanics, the biggest breakthrough in physics since the days of Newton, 200 years earlier, and the 'splitting' of the atomic nucleus, was all achieved without the programmable computer that we would recognise today. At the very same time as the undoubtably brilliant Alan Turing was creating the Enigma machine, the secrets of the subatomic world were being unlocked to unleash the atom bomb. Clearly, computers were not necessary for giant leaps forward in science.

The work at Bell Labs that yielded the semiconductor technology that's at the root of everything that we see as valuable today, was being done without the very microchips that were born due to the invention of the transistor. The world's most valuable company - Apple - puts computer chips inside boxes with a picture of a piece of half-eaten fruit on the outside.

So, now, what is the result, today?

Well, a bunch of geeks meet up to discuss how to address the crises that face humanity, using information technology. Then, tellingly, it turns out that it's all fake. It's all utter bullshit. It's all vapourware crap.

The I Sea app epitomises everything about the false promise of the information technology age for me, where complete fucktard "social media marketing" experts and ad-agency douchebags, who couldn't organise a piss up in a brewery, simply concoct some toxic vapourware bullshit that they know will be newsworthy (i.e. clickbait).

Yes, we can all imagine some pretty funky stuff, but it's science fiction not science fact. When all the posturing and hypothesising and dreaming is done, there are relatively few actual engineers out there who can tell you what can and can't be done with technology.

At the end of the day, we're talking about computer systems that were created to be some kind of automated abacus. The computers we have today were invented to count beans. The computers we have today are very good if you want to do some kind of compound interest calculation, but they're not going to solve world hunger. We already did that when we invented the tractor, combine harvester, fertiliser and insecticide.

So, if somebody tells you that machine learning, big data, artificial intelligence (AI), gamification and social media are going to solve all the world's problems, you have my permission to shout "BULLSHIT!" in their face really loudly. In fact, I encourage you to do so. We need less ineffectual waste-of-space blaggers in the world.

Tags: #computing #socialmedia #politics #capitalism

This is a story about Tower Hamlets...

Where I live, Muslims aren't 0.9% of the population like in the USA. Where I live, Muslims aren't 5% of the population, like in the whole of England. Where I live, the Muslim population is 46%. What do you think that's like?

Tower Hamlets is a place of huge socioeconomic divide. The council that governs this particular part of the UK, houses some of the poorest members of society, yet it is also the home to the headquarters of HSBC: the biggest bank in Europe, along with massive tower blocks for the likes of Citigroup, JPMorgan, Barclays, Fitch & Moody's, Morgan Stanley, Credit Suisse and giant accountancy & legal firms like KPMG and Clifford Chance.

While I sit on the banks of the River Thames penning essays like this one, slightly inland there are deprived council estates that are the modern equivalent of the Victorian slums. This is London. While I go to the dry cleaners to collect my freshly laundered shirts for the working week, or do some food shopping in Waitrose, my neighbours - certainly those who you would recognise as 'English' - are in the betting shops or buying lottery tickets at the convenience store.

If you think I've wandered into snobbery, you're wrong. I'm simply an observer. It's true that I occupy a priviledged position, but anybody is capable of making similar observations.

You know, I don't feel at all safe, boarding an underground train in a sea of white faces at 6pm on a weekday evening. Canary Wharf is crawling with rich middle-class people, and the station is packed to the rafters. Often times, the escalator is carrying so many office workers down to the packed concourse that people start to pile up at the bottom, in a rather comic way.

But when I head away from the glistening tower blocks filled with middle and back office drones, I start to feel safe again. London never feels like real London when it divides itself. The private estate of Canary Wharf, and the protected enclave of the City of London, with its 'Ring of Steel' are just crying out to be attacked, because they are sending out a message of "no poor people welcome here".

It feels like no atrocity is ever going to be committed in the markets of Brick Lane, where hipsters flock because of East London's famous Asian community. It feels like no atrocity is ever going to be committed on the Commercial Road or on Petticoat Lane, where large courtyards are filled with people praying towards Mecca.

London's great advantage is not integration, but tolerance. Everybody knows that the Edgware Road is somewhere to go and drink tea and smoke shisha. Everybody knows that all the Aussies and Kiwis have colonised Hammersmith and Shepherd's Bush. Everybody knows that Clapham and North London are the places that young wealthy white professionals frequent, whilst Camden is for dope smokers and tourists. Curry on Brick Lane. Chinatown. Little Venice. The cultural divisions are manifest.

London is not in the least bit integrated, but that's its great strength. Rather than relegating the poor entirely into the undesirable suburbs, like with Paris, social housing has brought otherwise 'undesirable' people into the very heart of the city.

The scariest places are Canary Wharf and the City because they have no residential housing, so therefore, they are almost 100% white middle class, filled with guffawing hooray Henries who have absolutely zero idea about the life of an underpriviledged person.

I used to live a stone's throw from the UK's Foreign Secretary - Boris Johnson - but not in a multimillion pound Georgian town house. My landlady was illegally subletting her council flat while she lived a life of idle luxury in Spain. On the towpath of the canal that the back of my apartment used to overlook, I would be verbally abused by Islington and Hackney's less fortunate residents, for being a yuppie. That sort of shit keeps you humble.

Now, 'right to buy' has gifted wealth to a few social housing tenants, but the gentrification of London is a terrible thing.

There are 1.6 billion Muslims in the world, so it's right that I should live in a community where nearly 50% subscribe to the Islamic doctrine. My life is certainly none the poorer for being mindful of important religious events, like Ramadan.

Britain and London's great victory was in diplomacy and tolerance. Our American-style anti-immigration and anti-Islamic rhetoric is only going to fuel tensions that were entirely imperceptible, until the USA decided to involve itself in Gulf conflicts in the early 1990s. We are paying a greater and greater price for the 'special relationship' with the US that affects our long-standing good relations with our Middle Eastern friends and allies.

Citizens of the United Kingdom would be well advised to remind themselves that Iraq, Iran and Syria had a thriving middle class, before their countries were torn apart by war, sanctions and CIA destabilisation.

You reap what you sow, and this anti-Islamic sentiment is completely undermining everything that I stand for as a diplomatic British Londoner.

Tags: #politics #london

This is a story about brainwashing...

How do you think that somebody who has worked for the best part of 20 years in the investment banking technology sector, mostly as an IT consultant, would re-adjust to being under lock and key in a psychiatric hospital? The answer is: very easily.

Hospitals and the NHS are a home from home for anybody who's worked for an organisation with hundreds of thousands of employees. The ways that large organisations function are largely the same. The way that systems and processes are supposed to control large numbers of people, are nearly identical.

Being in the loony bin was welcome relief from the bullshit day job, but it's not like I had absented myself from all responsibilities. I still had to have my wits about me to avoid being medicated against my will and put under a 'section' - involuntary commitment to a secure facility, by rule of law - which could have seen my 2 week voluntary stay extended anywhere from 28 days to 6 months.

How did I manage it so easily? Perhaps it's because I knew I could leave any time I wanted to, but perhaps it could be because nearly 20 years of going to a shit office to do a shit job, has kinda prepared me for the monotony, rhythm and routine of spending weeks on end trapped somewhere I don't want to be.

There was a danger that just the very act of asking to leave could have triggered the doctors to decide to force me to stay longer. I knew that I had to remain calm, and give the medical team  enough of a peek at my psyche to be able to make a judgement that I was safe to release back into the wilderness.

The psychiatrist who took me under his care was in two minds, after 6 days, whether he was going to insist on 'committing' me, so that he'd get 28 or so days to poke around inside my head. Naturally, most people would freak out, if they found out that their liberty was about to be taken away from them. It's a game of brinksmanship: who's going to blink first.

Obviously, we don't 'commit' people any more to asylums. Instead we detain them under a section of the Mental Health Act, and put them in secure psychiatric facilities. You're no longer a loony in the loony bin. You're a "service user" in a "care facility". Of course, I'm not saying that the function is not useful or should not be trusted. I'm just pointing out that the names of things have been changed.

Bizarrely, if you say "I'm going to kill myself, I need to be locked up" you are very unlikely to be locked up. If you walk up to the hospital reception desk and use their phone to contact the switchboard, ask to be connected to the bleep holder for Psychiatric Liaison, and explain frankly your situation, you will have an amusing conversation with the poor Psychiatrist who has to follow official channels, but you're not going to get anywhere. The times that I have been admitted as an inpatient to a psychiatric facility, it has just taken time & patience. Only the truly desperate will sit in Accident & Emergency for 13 hours just patiently waiting for help.

Conversely, if you say "I'm not mad, I'm fine" once you're in the system, or in any way try to rush the process along, you're going to end up held down on the floor with somebody injecting Risperidone and Haloperidol in you, and you might wake up 40 years later, shuffling around the corridors of some institution, with the marked side effects of powerful psychiatric drugs causing you to make involuntary facial movements.

You can't fight the system. You can't fight the frustrating fact that you'll never get ahead in life and must instead sit at a desk keeping a seat warm, just so that your boss can appoint somebody from outside the company to come in and be incompetent at the job you were hoping to be promoted into, even though you were experienced and qualified to do it. You can't fight the frustrating fact that your miserable boring existence, helping the rich get richer and the poor get poorer, is making you pretty depressed, and you really want to fuck everything off and watch everything burn down.

Who is mad and who is sane? That doctor who just declared you to be mentally ill probably talks to their imaginary friend called Dob or Gob or Dog or Dod (or is it God?) who really knows? There's no proof that their imaginary friend exists, just like the doctor has no proof that the voices you hear aren't real and you aren't actually the Son of Dob, resurrected on Earth.

The invisible line between sane and insane is very blurry, when billions of people genuinely believe in magic, invisible entities that don't exist, and have absolute faith that some children's fairy tales are actually instructions that should be devoutly and literally followed to the letter as some kind of prescription for life.

It seems highly irreverent to say it, but people need to speak up, because the loonies are actually in charge of the asylum, when we elect and hand over power to people who believe in their invisible friends, fairy tales and magic.

By the way, for the record, I don't hear voices and I don't think I'm Jesus. But then, saying that kinda makes me sound a bit mad, doesn't it?

Tags: #mentalhealth #nhs #hospital #suicide #depression #religion #politics

This is a story about ingratitude...

Why do I attack the industry that has suckled me? Why am I so angry and upset with the profession that has nurtured me? Why am I so ungrateful for my whopping big salary and cushy benefits?

Administration: the unnecessary bureaucratic headache that creates unwelcome red tape, adds no value to the real economy and is an overhead that limits the productivity, innovation and creativity of those who are truly useful. I don't work in the Information Technology business. I work in the business of administration.

The two most productive things that I do in any given week are filling in my timesheet and submitting my invoice for payment. The most important thing that I do each quarter is to pay my Value-Added Tax (VAT) down to the precise penny that I owe. If I'm not perfectly on top of my bureaucratic administration, the Government will stop me doing my 'real' job, which is creating software.

But what does the software I create do anyway? Most of it is just keeping score. It's bean-counting software. It's software that creates jobs for zillions of IT professionals like me, so that companies can get rid of zillions of administrators, that they immediately re-employ to make sure their IT professionals are filling in their timesheets correctly.

For every person who I put out of a job, by automating the processes they perform, the company will then invent some other pointless position. Our whole economy is based on bullshit jobs.

Should I be happy to have a job, and to count my blessings? Well, no. It's immoral to not consider whether you are having a positive or a negative impact on society, and on the planet. To count my blessings is an incitement to be wilfully ignorant of global issues, and the betterment of humanity.

So what am I doing instead, to align my values? How do I reconcile the rhetoric of what I preach with the obvious fact that I am enabling massive corporations to continue to ride roughshod over the human race and the fragile planet?

Well, I take the money, and with it I pay my rent & bills. And then, I spend 90% of my time thinking about issues and writing this blog. I'm not paid to create software - so little of my time is actually spent doing that - instead, I'm paid to bite the hand that feeds me. It's an inside job. I'm disruptive and cynical. I'm disillusioned and critical.

Does that mean my colleagues have to work harder to make up for me slacking? No. It doesn't work like that. If my boss asks me to do something, I won't do it. I'll wait to see if they ask me again. My boss isn't going to ask somebody else to do it, because they've already asked me to do it. 9 times out of 10, I'll never be asked again. The tenth time, I'll realise that whatever was asked of me actually was important, so I'll apologise and do the work.

So, am I idle? Absolutely not. With the time I could have spent doing those 9 things that were clearly unnecessary, I will conduct a kind of audit. I will go around, looking to see if there's anything more useful I could be doing. Invariably, there isn't. Everybody is just so locked into a hierarchical system of managers, administrators & clerks, that nobody has looked at the bigger picture and realised that what they're doing is absolute bullshit. Or if anybody has realised that their job is utter bullshit, they're not talking about it.

Now, I'm not talking about nurses, garbage collectors, train drivers, firemen. It's pretty obvious what the useful function of many front-line workers is. However, these people are working all hours for some of the lowest wages. No manager needs to tell a nurse to help a patient who is in pain & discomfort. No administrative drone needs to make sure that a garbage collector is hitting their Key Performance Indicators and is going to achieve their annual objectives at their appraisal. Either the important job is done, or it isn't.

There are functions that literally nobody would miss, except maybe not being harassed by an army of micromanagers and bureaucrats. Isn't it the case that you're propping up a sick and twisted system, by continuing to count your blessings and not rock the boat?

I frankly find it disgusting that I'm paid so many more times more than what a nurse gets paid. If I was to simply sit back and "think positive" and try to enjoy my ill-gotten gains, doesn't that make me a terrible, terrible person?

It's probably true that the world doesn't need any more bloggers, but what am I supposed to do? Impoverish myself and retrain as yet another disrespected front-line worker? It's hardly like they're being heard today, is it? How are the social wrongs ever going to be righted?

It seems to me that the right thing to do is to speak up. Yes, I jeopardise my lucrative career in doing so, but it's the right thing to do. People are more likely to listen to an IT consultant from the banking world, who is critical of the sector that pays me handsomely, than they are to somebody who could easily be dismissed as simply "jealous" or "not smart enough" to land themselves a similar job.

Truly, I do not think that front line workers are not smart enough to do my job. In actual fact, you have to be pretty dumb to be able to turn a blind eye to the social injustice of being highly paid to be an idle manager of hardworking people who do the real jobs.

I currently have no cash to put my money where my mouth is. Quitting my job would literally see me homeless and destitute again. However, I do anticipate a time when I will be faced with a true test of my morality: when I am able, will I quit the rat race and try to do something that is more in line with my values?

I have massively impoverished myself, trying to take an ethical stance, and I would do it again. It's the right thing to do.

Tags: #politics #banking #capitalism #career #computing

This is a story about having too much of a good thing...

Pills, pills, pills. A pill for every ill. We have so much faith in modern medicine at the moment, that we have medicalised boredom, depression, stress, when clearly these are as much a product of our environment, as they are a sign of anything pathological.

The very process of going to your doctor and getting sent away with some unnecessary pills, is well known to have a placebo effect. With the Internet and the possibility of self-diagnosis, we have turned into a society of hypochondriacs, who attribute every tiny discomfort to symptoms that require medical attention.

We have now overprescribed to the point that we have super-resistant strains of bacteria that can't be killed even with our last-line-of-defence antibiotics. Going running to your doctor because you've got a cough or a cold, and being fobbed off with magic beans that you believe can cure your viral infection, is just downright stupid, and now it's biting our arse.

It's the same thing with antidepressants. Because over 60% of us hate our boring stupid stressful crap jobs, we've been dishing our psychiatric medications like they're sweets. Over 60 million antidepressant prescriptions got written last year in the UK. That's enough for every man, woman and child in the whole country.

The number of people taking antidepressant medication for their clinical depression has doubled in a decade. There is a mental health epidemic that is driving so many other antisocial trends: alcoholism, drug abuse, isolation and loneliness, insecurity and anxiety, loss of productivity, loss of motivation, loss of drive to exercise and socialise.

What are you going to do if you work some dreadful zero hours contract for rock bottom wages and can barely make ends meet? What are you going to do if there's no hope of you getting on the housing ladder, or escaping from the financial situation you find yourself trapped in?

Of course people are going to turn to drink & drugs, to try to numb themselves from the painful monotony of working as hard as you can but never getting ahead. There is no light at the end of the tunnel for so many people. You just work, and then you die. None of your dreams will ever come to fruition. None of your hopes will ever be realised.

There's a disrespect for addicts and alcoholics, like they're taking the easy way out. Because there is supposed to be instant gratification in a pill, powder or liquid that contains psychoactive substances - uppers & downers - then it doesn't seem as worthy as those who physically toil for their fix of endorphins. However, how many 'legitimate' routes to happiness are there in the world, really?

There used to be a formula: get married, buy a house, have some kids, die. The first 3 you can't really do anymore, without cash handouts from the bank of Mum & Dad and/or the state. Who can really afford the lavish wedding that society expects us to have? Who can afford the deposit on some crappy tiny little flat, and afford the mortgage repayments, when you earn barely enough to survive? Who can afford childcare and all the other associated costs of childrearing, when you already don't have any disposable income?

All the hard work, industriousness, austerity, careful financial planning, saving, budgeting and diligent application of yourself to furthering your career, is likely to result in what? Maybe a few percentage points of a pay rise, if you're really lucky. Are you going to get promoted? Are you fuck. They're going to promote somebody incompetent and lazy, because they're older and they've been with the company for longer. Merit and hard work will get you nowhere.

So, pretty soon, you're going to get tired & depressed about it all. You tried hard at school. You turned up for your exams and gave it your best shot. You stressed yourself out and went to those interviews and got that job, and you worked your hardest, day after day, even though you could sense it was all utter bullshit by now. And for what? Where are you? What have you achieved? What are you ever going to achieve?

The enormity of it all hits you: you were sold a lie. You can't be anything you want to be. You're not special. You're not unique. You're not different. We're all just so much meat in the mincer. Turn the handle and out comes yet another drone just like you; prepared to do the shittest, most mind-numbingly boring and pointless work imaginable, for a salary that doesn't even buy you the basic essentials in life.

Why wouldn't you go running to the doctor, and ask them to dope you up to the eyeballs, so you don't have to live with the crushing realisation of the pointlessness of it all anymore? Why wouldn't you need happy pills, when you realise that the only way you're ever going to get the things that you were promised that hard work would bring, is by being given a council house or a cash lump sum from your parents. The only way you're going to ever be self sufficient is if Mum & Dad or the state top up your income... like you're some sort of fucking charity case... going around with your begging bowl.

How undignified. What an affront to human dignity it all is. Our parents and grandparents proudly tell us that they're "self made". They make loud proclamations that "nobody ever gave me a handout. I worked hard and I earned my keep". How shameful it is that we're twice as smart and work twice as hard, but we have nothing to show for it, except for a sneering generation telling us that exams are getting easier and that we're lazy and stupid.

Crippling debt and the crippling shame of not being able to live independently, not being able to be self sufficient and feel like we too are earning our money and contributing to the growth and wealth of the nation. It's all so crippling, so debilitating. Of course we need to turn to medications, drink and drugs.

You think it's about having a good time? Happy pills, and lashings of beer & wine? You think people wouldn't rather be happy by natural means, because they're fulfilled by normal things in their life: walking the dog, kissing their kids goodnight and paying the mortgage on their own home?

Antidepressants are a sticking plaster over a gaping wound. We have attempted to cover up the steady decline in the standard of living of young people, and mask the problem using happy pills, but the soaring suicide rates are just the tip of the iceberg.

Unless we face up to the reality that those who are suffering from many mental illnesses are the canary in the coal mine, we will reach a crisis point where most of the population are unable or unwilling to continue to maintain the status quo.

The mental health epidemic is the true breaking point, not immigration.

Tags: #mentalhealth #suicide #depression #politics #capitalism

This is a story about the debt spiral...

When the burden of debt in society is too great, and lenders are unwilling to forgive - to take a debt haircut or even write off debts - then there will be popular uprisings.

It's not that people don't want to repay their debts. In fact, most people accept that debt is a necessary evil in order to get the things they need when they need them, rather than towards the end of their life, in senile old age and infirmity.

And so, we become burdened with a mortgage, in order to give our family a stable roof over their heads. We become burdened with a car on hire purchase, so that we have a reliable and safe modern vehicle to be able to take the kids to school, and to get us to work without breaking down. We put our holidays and special occasions on credit cards, and pay back the debt when we get back, or after the festivities are over.

Most people diligently repay their debts.

In free-market economics, prices are able to fluctuate to find the point where affordability meets maximum profit. Do you think the cost price to the producer or supplier of the goods and services that you purchase, bears any relation to the retail price that you pay? Of course not. That's why a designer brand T-shirt costs at least 10 times as much as an unbranded garment, even though they come from the same sweatshop in the developing world.

In our consumer society, you are 'free' to select the goods and services that you want. However, in order to fit in with your buddies who are in a similar socioeconomic group to you, you will select the brands that they do. If you're rich, you'll do your supermarket shopping at Waitrose. If you're poor, you'll do your shopping at Asda/Walmart. However, the food you buy will have similar calorific content.

The brands become better and better at pricing their products so that you are just about able to buy everything you need, but won't have much spare cash left over. The brands know the income bracket that they're targeting, so they know the level where their consumers will become price insensitive. I literally don't care whether my coffee costs £2 or £4. If my coffee cost £5, then I'd think "blimey! that was expensive, I'm not going to go there again" but the £2 coffee shop could literally increase their prices 100% and I wouldn't even notice.

Once everybody has maxed out their budget, on the mortgage, the car finance, the credit cards, the overdraft, the store cards and some personal loans, where do you really go from there?

We demand that our corporations make increasing profits, but yet in order to do so they must hold down wage inflation and the cost of raw materials. We demand that our economy grows, but in order to do so, people must use increasing amounts of their limited pot of disposable income to drive consumption. What happens when everybody is just maxed out?

We're living in the age of low growth, high borrowing and low wage inflation. In order to sustain corporate profits, the cost of goods & services continues to increase. In order to prop up the capital growth of the pension funds, asset prices - such as house prices - have continued to be overvalued. However, the only way that the general population have been able to maintain their standard of living is through borrowing.

Ordinary people have not been profligate and stupid. People were promised pay rises and promotions, and instead they've been given job insecurity and wage cuts in real terms. If your wage increases just a few percent, but the cost of your housing, bills, food and transportation all increase in double-digit terms, then you're actually getting poorer.

If the headline rate of inflation - which is pretty much just concerned with wages - is low, then the value of your loans & mortgages is not getting inflated away. The baby boomers might complain about interest rates reaching over 15% in the late 1970s, but they forget that their wages were also increasing too. By the time the 1980s came around, people's mortgages were a tiny fraction of what they were earning.

What we see today is people's cost of living skyrocketing, but their wages are the same, which means they're earning less and less in real terms. If your wages stay the same, and your cost of living is increasing, that means you have less and less money to service your debts. So, you tighten your belt and cut back on your consumer spending, which in turn hurts an economy that is so dependent on spend, spend, spend!

What we see today is far worse than the Japanese stagflation that meant that the price of goods and services was getting cheaper, which encouraged people to become thrifty because they could buy things more cheaply if they waited. Instead, what we are seeing is people who have been promised growth, completely screwed over by a system that robs them of their wealth with no opportunity to do anything about it.

In a zero growth world, debts need to be forgiven or else ordinary people will become so unhappy that they will overthrow their idle creditors.

Tags: #banking #capitalism #politics

This is a story about ethics...

Imagine if you or I got caught laundering the best part of a billion dollars worth of drug money. We'd get sent to jail for a very long time, right? What if a bank got caught doing it, and there was so much evidence that there was clearly a case for criminal wrongdoing that could be prosecuted? Well, maybe you'd get given a chance to get rid of some of your dodgy customers, and nobody would go to jail. Does that sound fair?

Let's think about the financial crisis of 2007/08, when reckless trading meant that the whole banking sector had to be bailed out, causing austerity for ordinary hardworking people. The people who have paid the highest price - with lower wages, job insecurity and cutbacks for frontline services - would never be able to go begging for interest free loans if they behaved so irresponsibly.

Bankruptcy is not a criminal offence. It's OK for a private citizen to run up huge debts, find out they could never hope to possibly repay their creditors, and declare bankruptcy. You don't go to jail for bankruptcy.

So, arguably, what the banks did in 2007/08 wasn't that bad. It wasn't criminal. They had their risk underwritten by governments, so why wouldn't they take huge risks with public money? They were economically incentivised to take those risks, because the precedent of the "too big to fail" bailouts meant that there was no downside risk.

But what about money laundering? What about facilitating payments for drug gangs, dealers, traffickers? If you or I were involved in any of that as a private citizen, the courts would throw the book at us. They'd lock us up and throw away the key. It's criminal.

So, what about the banks? If the biggest bank in Europe - HSBC - was well known to authorities for helping a couple of major drug gangs to launder the best part of a billion dollars in dirty money, wouldn't that be criminal too? Wouldn't people go to jail?

Well, no. Enter the concept of "too big to jail". Just like the financial bailouts that the banks received, banks can also receive Deferred Prosecution Agreements. That is to say, even though you got caught doing criminal stuff, you'll get let off so long as you take some steps to stop doing it in future.

And how long would you have to get rid of your dodgy customers? Well, say the US Department of Justice were thinking about prosecuting you in 2012, you might still be botching the IT project that is apparently 'essential' to get rid of your dodgy customers 4 years later... in 2016.

How much do HSBC really know about their customers anyway? Well, from their electronic records that they already have on file, they know about 6% of what they need to know. So basically, they don't know 94% of what they need to know.

Now, you might not be an IT project management expert, but you'd have thought that it's more important to find out the missing 94% of what you don't know, than even to bother with the 6% that you do know. Sure, it's pretty embarrassing to have to ask your customers where they live again, but what you really need to know is this: where did you get your fucking money?

In Customer Due Diligence terms, this is called Source of Wealth. You might have inherited the money (legit), you might have won the lottery (legit), you might have sold a priceless artwork (legit) and you might have trafficked vast quantities of illegal narcotics (not legit). Basically, HSBC had 4 years to ask all their customers "is your source of wealth drug money?". Did they manage this? No.

I'm quite spectacularly offended by just how badly they botched a simple project to ask all their customers to fess up: are you in the illegal drugs business?

Sure, it's true that HSBC had to cough up a couple of billion dollars in fines, but for them that's just the cost of doing business. Their profitability was barely affected.

Arguments were made to the US to defer prosecution, and to allow HSBC to keep its banking charter and continue to do business in the United States. These arguments were made on the basis of maintaining stability in the financial markets. The Deferred Prosecution Agreement came with stringent terms, that a court would appoint a Monitor to make sure that HSBC actually cleaned up their act. I can tell you now, Michael Cherkasky, that the project to clean up HSBC's customer base was a total sham. A shambolic waste of time & money, mismanaged to the point that the whole thing was laughable.

Do you think that message that is sent to "too big to fail" organisations, that they're above the law and they can never go bankrupt because they'll always be bailed out, is looking like the right one, today, now, in 2016?

The argument that has been made is that we need to prop up the share prices so that the pension funds are protected, and we need to maintain financial stability. Isn't that just utter bullshit, in the face of austerity and extreme volatility in the markets? We've had round after round of Quantitative Easing (QE) and other attempts to breathe life into markets that have lost their minds. There is nothing at all rational or efficient about the global markets that we see today.

And to round it all off, it's corrupt as hell. To allow banks to ride roughshod over the rule of law is the final step in handing over the nations of the world to the multinational corporations who have driven us into a position of financial ruin, much to the pain of the vast majority of ordinary working people. It stinks of the worst corruption ever perpetrated on Western civilisation, does it not?

Somebody has to call time on the lack of ethics and accountability for the too big to fail organisations, and their board members who are too big to jail.

When we allow the likes of Stuart Gulliver to be the CEO of HSBC, when he doesn't even keep his wealth in the bank he manages, but instead keeps it hidden in the Cayman Islands and Switzerland, clearly we have corruption right from the top down.

David Cameron, outgoing Prime Minister of the United Kingdom said, as recently as April, that "[I] can't point to every source of every bit of [my] money" but yet we would have the likes of you or I have to prove that our filthy lucre was not ill-gotten gains from some criminal enterprise. The corruption comes from the very top of both Government and organisations. It stinks.

Who is going to grasp the nettle and hold Government and large enterprise to account for having run us into economic ruin, while busily siphoning wealth offshore?

There needs to be accountability. There needs to be jail time for corrupt executives and government ministers.

Tags: #banking #capitalism #hsbc #politics

This is a story about a feeling at the pit of my stomach...

How often do we think "I want to help, but I've got so many of my own worries"? How often are we held back by the bystander effect... assuming that somebody else is going to step in first, so that we don't have to?

You'd hope that nobody would have to be in hospital alone, uncared for, while they're in pain and discomfort. You would think that even somebody who has been infected with Ebola, has loved ones who have come to wave through the protective plastic bubble.

Leaving aside my own obnoxious family, doesn't it set alarm bells ringing for you, the fact that we have a society that can so easily turn its back on undesirable members?

Whether it's the benefits cheat, disability scrounger, mental health basket case, junkie, alkie, hobo... whatever. There are plenty of people who have been demonised by the media. We have even descended to the depths of attacking our economy-boosting immigrant population, with terrorism as the brush with which we tar an entire Muslim community, for example.

This whole "look after number one" isolationism, along with "take our country back" and "look after our own" misguided silliness, is rather telling of a wider trend: everybody is just being selfish as fuck.

You might think it's in your family's best interests to hide behind your locked front door, and assume that the world is filled with rapists, paedophiles and murderers, but actually the whole of civilisation is coming to an end, because of the fear and mistrust, and reluctance to help one another.

That's a big statement, isn't it? "Civilisation is coming to an end".

Well, let's examine that a little more carefully. What even is civilisation? Surely, civilisation is not leaving anybody to die of starvation or exposure to the elements? Surely, civilisation is caring and sharing with one another? Surely, civilisation is working together, not acting like a bunch of individual animals, fighting with each other?

So, when I think about going back to work tomorrow after an excellent weekend of looking after number one, I can't help but have a heavy heart, thinking that my job is simply to make the rich richer. I might have a big paycheque but I certainly don't think that means I'm delivering good value to humanity. On the contrary: I know that I'm propping up a very broken system, and I hate it.

Yes, it makes sense for me to take the money, and to stuff my mattress full of filthy ill-gotten lucre, but it's painful. It actually makes me unwell, to know that I'm part of the problem, not part of the solution.

Once you get some skin in the game I guess it becomes a little bit easier to justify the unjustifiable. Little Hugo needs his ballet shoes, after all, so you'd better go off to work for the capitalists who are intent on destroying the world. How could you possibly help the homeless, when you need that money to get bright special little Alice into that slightly better primary school? Perfectly understandable.

Maybe our children will catch poverty. Maybe children will catch mental illness. Let's not take any refugees, and let's allow people to starve and go homeless, because surely we're living in a jungle where only the fittest will survive. Isn't that what life's about? Have as many children as possible and fuck everybody else?

Doesn't it seem a little primitive to you, this way of acting that is tribal, nationalistic, isolated, don't trust your neighbour, fuck the refugees, fuck the poor, fuck the sick, fuck everybody who isn't me?

I know that I could easily do a "fun run" or a sponsored "do something enjoyable that I was going to do anyway" in order to salve my conscience. Maybe I can get a partial lobotomy, so that I can forget that charity has completely failed to do anything about poverty and inequality, and it never will.

It's people's attitudes that suck. It's this whole "it must be somebody else's problem. It's certainly not my problem" thought pattern that sucks.

The point is: it's everybody's problem.

Tags: #politics #capitalism #career #depression