The Times They Are A-Changin’: Angry, Divisive, and Nasty 

“Grass grows greener on the other side
Corn grows sweeter on the other side”  

Listening to the political discourse over the last week makes me wonder whether the heat is making people nastier?  

Of, course, most of the nastiest must be perplexed by the weather as they are in-denial about climate change and its causes.  

New analysis by scientists from the World Weather Attribution (WWA) consortium, coming at a time when western Europe is suffer widespread heatwaves ever, confirms that the climate crisis driven is by fossil fuel burning. 

The report shows how rapidly extreme heat is worsening as carbon pollution continues. As recently as 2003, a heatwave like the current one in Europe would have been 2C cooler due to the lower level of global heating at the time. In 1976, another famous heatwave year, it would have been 3.5C cooler. 

Of course, the official leader of the opposition, Kemi Bandenoch, whilst not totally in denial, appears to think the costs involved are too great.  

‘the nastiest must be perplexed by the weather as they are in-denial about climate change and its causes’

Also, I would imagine the average climate activist would bring-out the worst in her. Something that never seems far away with Kemi.  

This week’s PMQs witnessed one of her more graceless performances. The Commons is a place of traditions, rituals, many unwritten and based on decency. Unfortunately, Kemi disregard all of this, presumably seeing it as a weakness. 

One of those customs, requires the leader of the opposition to say something complimentary about an outgoing PM.  

This was simply beyond her, and, after warming-up she became progressively more angry hitting out at all and sundry.  

After winding-up Starmer with references about the king of the north, she started on senior cabinet members. 

Chancellor Reeves was useless, the energy secretary, Ed Miliband, was a serial betrayer, and the education minister, Bridget Phillipson, was dismissed as a “spiteful class warrior”. 

Finally, she went too far,  Kemi said Starmer had 400 knives sticking in his back, the speaker intervened asking for MPs to moderate their language. The fact that two MPs have been stabbed to death in the past 10-yrs appeared irrelevant and no apology was offered. 

It was left to the LibDem leader to show some class, saying: “We are all human. It is something that everyone should remember“ 

It will be interesting to see how Andy Burnham, our PM-in waiting, deals with Badenoch. 

“We are all human. It is something that everyone should remember“

Much is being made of the fact that Burnham’s greater popularity will earn labor a “rehearing”.  

Somehow I doubt this will happen. Speaking with Mussolini my mother, who gets “all her news from the Daily Mail and GB News”, its already over, we will be taxed to death. She appears to know more about Burnham’s policies than he does. 

Also, “how can he be PM, he isn’t an MP”. He was elected last week, “that’s not long enough. We need an election”. 

The fact that the Tories happily played pass-the-parcel with the role of PM was “not relevant, it was different”! 

She ended with “labor can’t manage money.” 

The right-wing media seem are doing their best to destroy the new administration before it gets started. “Whoever the next chancellor is, they are coming for your home,” says the Telegraph. “A man with no plan and no proper mandate,” writes the Sun. 

“Whoever the next chancellor is, they are coming for your home,” 

You would have thought Starmer’s proposals to criminalise protest and planned cuts to disability benefits, would have pleased them, but no. A Sunday Times columnist who clearly doesn’t like leftwing voters, wrote: “Blue-haired city-dwelling Green-adjacent trans-lovers.” 

During the 1968 student riots in Paris, the Situationists used to say, “Be realistic, demand the impossible!” (“Soyez réalistes, demandez l’impossible”). 

Polls suggests voters might remember this, as they want small government, but complain that government doesn’t do enough. Taxes must be lower, but public services need improving, allied to economic growth and lower immigration.  

They talk of  stability but their ongoing evisceration of PM’s causes chaos. 

Adding further confusion to this chaos, the bond markets police our debt, politics, and economic prospects. 

“Blue-haired city-dwelling Green-adjacent trans-lovers.” 

There was an interesting article by the Greek economist, Yanis Varoufakis, this week 

He made the point that much of our ability to refinance our C.£3trn of debt of almost £3 trillion ($4 trillion) does not depend on savers choosing to invest in gilts, but on the willingness of US-based financial institutions to borrow substantial sums of dollars to purchase gilts, which are used as collateral to borrow for their own purposes within the US. 

As he says, “there is a world of difference between needing to borrow from savers and relying on speculators who borrow to lend to you. Savers who lend to you focus on your long-term ability to repay. They may tolerate your desire to make infrastructure investments that could increase your debt in the short term, on the promise that future profits will help you repay them on time and in full. 

“But speculators who borrow in order to lend are a different beast entirely. They are much jumpier and prone to margin calls. If the bonds they purchased from you begin to lose value, they dump your bonds, fearing that they will be unable to repay their own creditors, thus turning a decline into a crash.” 

As Mark Carney, now Canada’s PM, said when he was governor of the BoE: “the UK relies on the kindness of strangers.” 

The right-wing media have become experts on the bond markets, although only when they sell-off. After the PM’s resignation on Monday, the rate on the 10-year gilt fell marginally, a fact they ignored! 

“the UK relies on the kindness of strangers.”

We finish with a quick look at the US, where, even under Trump, people are still value democracy. 

A recent PRRI survey of 5,400+ Americans shows that: 

• 68% think that “we are in real danger of losing important democratic rights and freedoms we have had in this country”. 

• 59%, including 66% of independents, think Trump is “a potentially dangerous dictator whose power should be limited before he destroys American democracy.”  

• 64% reject the imposition of monolithic white Christian nationalism, preferring the U.S. to be a “nation made up of people belonging to a wide variety of religions rather than one primarily made up of people who follow the Christian faith (34%).”  

• “77% prefer the U.S. to be a nation made up of people from all over the world rather than one primarily made up of people of Western European heritage (20%).” 

I purposely included the US data, as it shows two-things. 

‘Hopefully, UK voters, seeing the shit-show that is Trump’s America will learn this lesson’

The majority of people are still fundamentally decent, and, via the media and social media we have encouraged a number of commentators and politicians who are simply nasty, spreading divisive hate politics.  

Hopefully, UK voters, seeing the shit-show that is Trump’s America will learn this lesson. 

“But now I see with my own two eyes 

The problem was all right down to you”  

It’s too hot for even me to sit outside!

So, I decided to write some more….

The hot weather clearly proves we have climate issues, which are getting progressively worse. It should be apparent to even the most stupid that this must be addressed.

Not only will it hopefully save the planet, it will stimulate the economy, and save consumers money.

After Trump’s humiliation over the Strait of Hormuz, the solution isn’t to totally attack Iran; it’s to nullify their position by reducing our reliance on oil and gas, fossil fuels.

At home, the media are happily destroying would-be PM Burnham before he starts.

In the Commons, we were treated to the unedifying behavior of Tory leader Badenoch. She simply has no class, not a shred of decency.

I could write more but it’s too hot for rising blood pressure.

Instead, I resort to songs starting with “In a Hole” by Jesus and Mary Chain and ending with “Hope (I Wish You’d Believe Me)” by The Mighty Wah!

A good w/e to all

Philip.

@coldwarsteve

Philip Gilbert is a city-based corporate financier, and former investment banker.

Philip is a great believer in meritocracy, and in the belief that if you want something enough you can make it happen. These beliefs were formed in his formative years, of the late 1970s and 80s

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