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Wouldn’t it be nice if people, for once, didn’t decide to make money of the misery of others? (I know, I know. Capitalism would collapse the End Times would start, et cetera). One news story that caught my eye was the tomfoolery going on with some Immigration Consultants and their business of getting Syrian refugees to Canada.
“CBC News has learned about a troubling aspect of the drive to bring Syrians to Canada: professional immigration consultants, in partnership with some refugee sponsorship groups, are charging refugees thousands of dollars in arrangements that critics say are unethical and violate federal rules on sponsorship.
The immigration consultants have been targeting Syrians living in the Gulf states, many of whom are there on work permits and are able to earn a living. In that sense, they are potentially a more lucrative client base than those in refugee camps in Jordan, Lebanon and Turkey.”
Well so far, not bad. I’m sure unethical people wouldn’t try to game the system to rich themselves based on the misery of others…
In the case of one such agency, information available online and documents obtained by CBC News reveal that the consultant is not only charging prospective refugees thousands of dollars to process their applications but also asking them to pay the full cost of their resettlement up front, which violates the financial guidelines of the Private Sponsorship of Refugees Program.
Whoops, there we go. The dark side of what humans are capable of has come front and centre once again. Would more people be left in trouble without these private companies working their magic? Would it be wrong to legislate them out of the picture?
I understand that the entrepreneurial spirit thrives in conditions such as these, but I think in the case of refugees we should prioritize their safety rather than the profits of these so called ‘Immigration Consultants’. Let’s close with what Jackie Swaisland has to say on the issue, as she frames the problem quite concisely:
“There are still people who are incredibly vulnerable. There are still people who don’t know what tomorrow holds for them, or they are in dire circumstances,” she said.”So, to sort of charge those individuals, even if they can technically afford to pay for it, a large fee for your services, I think that becomes unethical.”
Unethical, indeed.
[Source:cbc.ca]
A tonic against the slash and burn capitalism we’re supposed to worship.
It is always nice to see the various economic classes looking out for one another. When the assets of the top are threatened, the bottom must suffer. Easy math, really.
This excerpt from an interview with Michael Hudson on Counterpunch.
Peries: Look forward to it, Michael. So Michael, some mainstream news outlets are saying that this is the China contagion. They need someone to blame. What’s causing all of this?
Hudson: Not China. China’s simply back to the level that it was earlier in the year. One of the problems with the Chinese market that is quite different from the American and European market is that a lot of the big Chinese banks have lent to small lenders, sort of small wholesale lenders, that in turn have lent to retail people. And a lot of Chinese are trying to get ahead by borrowing money to buy real estate or to buy stocks. So there are these intermediaries, these non-bank intermediaries, sort of like real estate brokers, who borrowed big money from banks and lent it out to a lot of little people. And once the small people got in it’s like odd lot traders in the United States, small traders, you know that the boom is over.
What you’re having now is a lot of small speculators have lost their money. And that’s put the squeeze on the non-bank speculators. But that’s something almost unique in China. Most Americans and most European families don’t borrow to go into the market. Most of the market is indeed funded by debt, but it’s funded by bank lending and huge, huge leverage borrowings for all of this.
This is what most of the commentators don’t get. All this market run-up we’ve seen in the last year or two has been by the Federal Reserve making credit available to banks at about one-tenth of 1 percent. The banks have lent to big institutional traders and speculators thinking, well gee, if we can borrow at 1 percent and buy stocks that yield maybe 5 or 6 percent, then we can make the arbitrage. So they’ve made a 5 percent arbitrage by buying, but they’ve also now lost 10 percent, maybe 20 percent on the capital.
What we’re seeing is that short-term thinking really hasn’t taken into account the long run. And that’s why this is very much like the Long-Term Capital Management crash in 1997, when the two Nobel prize winners who calculated how the economy works and lives in the short term found out that all of a sudden the short term has to come back to the long term.
Now, it’s amazing how today’s press doesn’t get it. For instance, in the New York Times Paul Krugman, who you can almost always depend to be wrong where money and credit are involved, said that the problem is a savings glut. People have too many savings. Well, we know that they don’t in America have too many savings. We’re in a debt deflation now. The 99 percent of the people are so busy paying off their debt that what is counted as savings here is just paying down the debt. That’s why they don’t have enough money to buy goods and services, and so sales are falling. That means that profits are falling. And people finally realized that wait a minute, with companies not making more profits they’re not going to be able to pay the dividends.
Well, companies themselves have been causing this crisis as much as speculators, because companies like Amazon, like Google, or Apple especially, have been borrowing money to buy their own stock. Corporate activists, stockholder activists, have told these companies, we want you to put us on the board because we want you to borrow at 1 percent to buy your stock yielding 5 percent. You’ll get rich in no time. So these stock buybacks by Apple and by other companies at high prices can push up their stock price in the short term. But when prices crash, their net worth is all of a sudden plunging. And so we’re in a classic debt deflation.
“The real world of capitalism is one in which capitalists demand state intervention on their behalf while opposing government intervention on behalf of their employees or the poor. In a broader sense, the state is the guarantor of the capitalist system, providing the framework of laws and protections it needs to exist. Taxpayers fund the state, thereby ensuring capitalism’s viability. Capitalism cannot exist without a host state, just as corporations cannot exist without property laws, state charters, copyrights and patent protections, and a host of other government “interventions.”

An anti-government protest placard is seen outside Downing Street during a march to protest against the British government’s spending cuts and austerity measures in London on June 20, 2015. The national demonstration against austerity was organised by People’s Assembly against government spending cuts. AFP PHOTO / BEN STANSALL
Well, let us pause in complete shock as the Tories institute more cutting of public services and benefits. You may have heard that Austerity is the new black in terms of doing shitty things to societies. Austerity has destroyed Greece and rightly the people of Britain are fighting back.
“Thousands of demonstrators staged an anti-austerity march in London on Saturday, in the first major public protest since Conservative Prime Minister David Cameron won a general election.
Opposition politicians, trade union bosses and celebrities were among the crowds marching through the capital’s financial district.
Protesters called for the halting and reversal of spending cuts imposed by the previous coalition government and further measures proposed by finance minister George Osborne.
“We have seen a huge impact on our work at primary school,” said Sian Bloor, 45, a teacher from Trafford near Manchester.
“I regularly bring clothes and shoes for children and biscuits for their breakfast, just so they get something to eat. You can see how children are being affected by the cuts.” Bloor said.”
The wealth from the Regan-Thatcher era STILL hasn’t trickled down. This must be some very sticky money as seems to be residing in the hands of the upperclass and corporations who have gerrymandered the British polity to benefit them and screw the rest of society.
“Placard-waving protesters marched from the Bank of England and filed past the nearby Royal Exchange, as the sound of drummers filled the air, creating a festival atmosphere.
Some of the placards read: “Austerity Doesn’t Work”, “No to Cuts”, “Get the Tories Out” and “Austerity is Class War”.
“It will be the start of a campaign of protest, strikes, direct action and civil disobedience up and down the country,” said Sam Fairbairn of organisers the People’s Assembly.
“We will not rest until austerity is history, our services are back in public hands and the needs of the majority are put first.” Fairbairn said.”
The message from the people is always the same – more equal distribution of wealth, reinstatement of public utilities and welfare. The stuff that makes society prosper and run well. Of course, given the current neo-liberal fetish the Western world is stuck in, all of these things are the darkest of evils.
“Cameron clinched an unexpected election victory on May 7 that gave his centre-right Conservative party an outright majority in parliament for the first time in nearly 20 years.
The victory was widely seen as an endorsement of the Conservatives’ austerity programme and is likely to see a continuation of cuts to public spending as they seeks to curb a budget deficit of nearly $140 billion.”
Let us hope for another election soon in Britain, perhaps people will get their priorities straight then.


“Drugs are not what we think they are. Addiction is not what we think it is. The drug war is certainly not what we’ve been told it is. And the alternatives aren’t what we think they are.
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