News in Scotland - Wednesday

jobless-figures.jpg
Scottish unemployment has increased raising fears that claims of
'recovery' are mere propaganda exericises

Scottish News: News in Scotland - Wednesday

SCOTLAND

Another 'recovery' busted: Scottish unemployment up

Unemployment has gone up in Scotland to 205,000 people being officially out of work. The figures show a rise after 7 months of falls. Each fall was greeted with exuberant claims that Scotland and the UK economy was experiencing yet another 'recovery'. Unemployment figures seldom reveal whether new jobs are temporary, part-time or low paid service sector jobs related to government stimulus programmes such as quantitative easing (money printing). These latest Office Of National Statistics (ONS) figures also show that the number of Scots in jobs has increased - adding to the confusion and the general sense the official figures are manipulated and conceal the true economic picture. Each time there is a drop in unemployment a new recovery is hailed despite widespread evidence which shows that the UK is in a long term contraction or depression and not a recession at all. One such indicator is the rise in the use of food banks which have increased 300 percent in the last year alone.

Scottish independence: Currency deal will be 'straightforward', claims Salmond

First Minister Alex Salmond has claimed that a formal deal to share the pound with the rest of the UK post-independence would be 'straightforward'. The complexity of currency union can be viewed in the eurozone where the entire bloc is regularly in crisis and with taxation constraints being placed on individual members as well as a new banking union with member's banks being able to be wound down without the involvement the bank's own government. Perhaps the real problem with using the UK's regulatory system is that the UK has was this week described as the 'epicentre' of fraud which caused the global financial crisis by former US regulator and criminologist Professor Bill Black.

More Scottish news:

 

Doctors warn of 'safari' rounds in Scots hospital

Space shortages in Scottish hospitals have caused thousands of patients to be admitted to the wrong departments, new figures revealed by the Herald newspaper show. Patients are often moved more than ten times during a single hospital stay as stretched resources see patients stuck in ward spaces intended for other patients meaning many are at risk as they are not situated near medical staff suited to their conditions. In trying to find their patients doctors describe the hunt as going on 'safari rounds'.

CURRENCY INDEPENDENCE v UNION LATEST

(International news on currency union to inform the Scottish referendum debate)

Money printing to be halted, claims Bank of England

The new governor of the Bank of England, Marc Carney, won unanimous backing for halting quantitative easing (money printing) at this month's meeting of the Monetary Policy Committee (MPC). Observers note that other measures such as Funding for Lending are forms of backdoor money printing and so monetary stimulus is still being injected into the system. Interest rates are not set by the market and are instead set by the MPC which is a central committee system. Low interest rates are said by a growing number of economists to be destroying manufacturing and jobs in the private sector however it allows banks to borrow money very cheaply and shore up their distressed balance sheets.

INTERNATIONAL

UK crisis: Almost 1 million Britons unemployed for over a year

Long-term unemployment is at its highest level in almost two decades, figures released today show. The new figures throw claims of 'recovery' into disarray as the rise of food banks continue to escalate and government borrowing skyrockets. Approximately 915,000 people have now been unemployed for a year or more and 474,000 have been out of work for over two years. A growing army of critics argue that without the manipulation of unemployment figures the real scale of the problem would be revealed as far bigger. Liam Byrne MP, shadow work and pensions secretary, said: "it's now clear the Government's so-called welfare revolution has collapsed. Three years into this Parliament, there are now more people unemployed long term than at any time since 1996."

UK crisis: UK sells £12.3bn in arms - many to repressive states

The Westminster government has approved thousands of arms deals for military and intelligence equipment worth £12.3bn with countries it itself condemns for human rights abuses. This week, a licence to sell £7.7bn in cryptographic equipment to Israel was publicly disclosed. The equipment has military as well as civilian uses. The licences involve sales to countries such as Iran, China, Zimbabwe and Sri Lanka - all of which the Foreign Office claims have questionable civil rights records. Three contracts relate to Syria where the UK is supporting the insurgents who raised a military campaign against the government.

UK crisis: British bank fined for corrupt practices in US

Barclays and a number of its traders have been fined £300mn by US regulators after being found to have been manipulating power prices. The Federal Energy Regulatory Commission (FERC) accused Barclays and its traders of a "co-ordinated and intentional effort" to rig electricity prices in California and other US states. FERC's investigation uncovered emails and IM content relating to the scam. The scandal is just the latest in a long list of fraudulent activity undertaken by Britain's largest banks including Libor and ISDAfix rigging, currency exchange rigging, 'mis-selling' of financial products, formation of cartels and so on. Many of the fines have been tiny compared to the profits made meaning that the environment conducive for criminal fraud remains in place.

Syria: Worst refugee crisis since Rwanda, says UN

As many as 6,000 people are fleeing Syria every day as a result of the conflict there. UN refugee agency chief, Antonio Guterres, told the Security Council said the displacement of Syrians were at such a rate to be comparable to the Rwanda conflict in 1994. The conflict started when western-backed insurgents raised arms against the government. Many of the 'rebels' are in fact mercenaries from US ally Qatar. The conflict is seen as a key struggle between larger global powers for control of energy supplies in the region.

US-Russian relations more important than Snowdon, says Putin

Russian President Vladimir Putin has said that petty squabbles between intelligence services are less important than diplomatic relations between states. Putin reiterated that Snowdon would not be able to conduct activity from Russia which was aimed at the US government. There are growing concerns that Snowdon's supposed crimes have become the story rather than the information he has revealed about the Obama regime which has been exposed to be spying on domestic and foreign populations as well as allied governments.

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published this page in News 2013-07-17 14:59:53 +0100