The number of tenants evicted from their homes in Britain reached record levels in November and was the highest quarterly rise since records began in 2000. Thousands of properties were repossessed as families and individuals face battles with the courts to keep a roof over their heads and welfare reforms and property prices squeeze incomes.
Richest landowners are biggest benefit (subsidies) scroungers of all
What was paid out in benefits in 2011 to the landowners of the United Kingdom
Were David Cameron to announce tomorrow that some of the wealthiest landowners in the country would receive millions in subsidies from the taxpayer, there would be predictable outrage. Yet, in the form of the EU's Common Agricultural Policy (CAP), such a programme already exists. The average British household contributes £245 a year to the CAP, most of which, a New Statesman investigation has found, is handed to the wealthiest landowners. Originally established with the intention of supporting small farmers and reducing Europe’s reliance on food imports, the CAP, which accounts for 43 per cent (€55bn) of the EU budget, has become a slush fund for assorted dukes, earls and princes.
A freedom of information request by the NS to the Department for Environment, Food and Rural Affairs found that claimants last year included the Duke of Westminster (net worth: £7.4bn), who was paid £748,716 for his ownership of Grosvenor Farms, the Duke of Buccleuch (£180m), who received £260,273, the Duke of Devonshire (£700m), who received £251,729, and the Duke of Atholl, who was paid £231,188 for his 145,000 acre Blair Castle Estate.
It was also a lucrative year for the Windsor family. The Queen received £415,817 for The Royal Farms and £314,811 for the Duchy of Lancaster, while Prince Charles was paid £127,868 for the Duchy of Cornwall. Similarly well remunerated was Saudi Arabia’s Prince Bandar, who netted £273,905 for his 2,000 acre Glympton Estate in Oxfordshire, alleged to have been purchased with the proceeds of the 1985 Al-Yamamah arms deal between Britain and Saudi Arabia.
Payments are based on acreage alone, and take no account of wealth, making the scheme one of the most regressive imaginable - the more you own, the more you get. In addition, since the EU’s definition of “farmer” does not require individuals to actively produce food or other agricultural products, many recipients are, in effect, paid not to farm. The largest individual UK beneficiary is Sir Richard Sutton, who was paid £1.7m for his Settled Estates, the 6,500-acre property he inherited with his baronetcy in 1981, despite net assets of £136.5m.
Other unlikely recipients include Eton College, which received £4,622, Severn Trent Water, which was paid £779,436, and outsourcing company Serco, currently cashing in on the government’s privatisation of NHS services, which, courtesy of the public, received £2.7m.
With the exception of Spain, there is no European country in which land is more unequally distributed than Britain, with 70 per cent of acreage held by just 0.28 per cent of the population, or 158,000 families.
Aware that it cannot legitimately sustain such corporate welfare at a time of austerity, the EU has vowed to reform the programme by capping direct payments at €300,000 and by ensuring that only "active" farmers receive subsidy. But even under these proposals, due to be implemented in 2014, aid will still be provided to landowners who derive just five per cent of their annual revenue from agricultural activity, whilst, in the case of the cap, the biggest farms will simply avoid it through restructuring.
The Conservative Party now rarely misses a chance to bash Brussels bureaucrats, yet, due to its enduring ties to the landed gentry, one hears little from it about the inequity of the CAP or the order it helps sustain. But as the Thatcherite dream of a property-owning democracy recedes, it should recognise that land reform is now both a political and an economic necessity.
'If poor people knew how rich the rich are, there would be riots' says Chris Rock
Comedian Chris Rock has hit out at the gap between the rich and poor.
Rock was plugging Top Five, an upcoming release in which he is director, screenwriter and lead actor,
when he said if the poor saw true luxury 'there would be riots'.
Speaking to New York Magazine for an extended interview, Rock said the only reason revolution hasn't come
is that 'people don't even know' how the other half live.
He told interviewer Frank Rich: 'If poor people knew how rich rich people are, there would be riots in the streets.'
'If the average person could see the Virgin Airlines first-class lounge, they’d go, “What? This is food, and
it’s free, and they... what? Massage? Are you kidding me?”'
Airport lounge customers who fly Virgin are treated to unlimited cocktails, food on demand, and other amenities
including free haircuts and spa treatments.
Rock has spoken out in the past about income inequality, saying he would voluntarily up his tax contribution if it would save him giving a loan to his children's teachers.
In a 2012 interview, Rock said: 'I can pay higher taxes and people can have jobs or I can pay lower taxes and I have my kids' teacher asking me for a loan because she's going to lose her house - which is true'.
'Stuff like that happens, so I'm going to lose the money no matter what.'
Oxfam: Inequality on the rise between rich and poor around the world VIDEO
Now even the mass media claim insanity has gripped London's property racket VIDEO
Peter Schiff: Biggest crisis ever looms VIDEO
Do the peasants think company bosses will give wage rises without a fight? VIDEO
Unions crushed by tory mafia allowing slave labour wages to fund failed economy except for the rich
Property contracts and the multi trillion dollar sting
Some dupes just DON'T seem to GET IT!!!!!!!!!!!!!!!!!!!!!
If a town had a wee dell boy selling cars and then using some sort of warped legal term to STEAL them back there would be an outcry in the local and national media. That would be especially true if the EXCUSE to steal those cars back was that the men who owned them had fallen out with their wives or partners and that was used as the excuse to steal them back maybe after paying them off or a large percentage of what they were worth.
But that is PRECISELY the scenario that awaits the duped idiots paying vast sums monthly to buy into the property racket. The law society mafia are selling MEN property at vastly more than they are worth draining them of their hard earned cash, in some cases almost as much as 80% plus of their salary that is going on dodgy mortgage scams that are used right across the planet with banks and the legal mafia in collusion to sell property under a massive corrupt global monopoly .
But what makes their multi trillion dollar scams much worse is that the very media that should be exposing their crimes against men globally are in fact aiding and abetting them by reinforcing the message that falling out with your wife gives them all the excuse they need to kick men onto the street homeless and penniless under the guise of their DOMESTIC ABUSE claims. You really could not make this up the enormous lies and propaganda being pumped out to justify crimes so vast no one can truly comprehend that at any one time thousands upon thousands of men are being fleeced of their livelihood and homes on the strength of malicious lies to justify this theft.
Meanwhile a media controlled by these evil bastards provides ALL the excuses to justify the terrorist cell of the law society, embedded in every corner of the globe, is taking care of the distribution of land and property that ensures this global pariah can continue to fleece men on the grandest of scales. Far more lucrative than the military industrial complex and any other financial scam being perpetrated and yet with NO resistance coming from a compliant media.
By waking the DUPED men up from their slumber that crooked monopoly system would eventually collapse.
Only by men uniting globally against the biggest criminal racket on the planet by far can this evil be brought to a halt. As the freemasons behind this plunder can continue to line their coffers and reinforce their wealth and power through their global monopoly scams. The knights templar instigated this evil centuries ago and the modern day crooked lawyers, judges and bankers continue its advance. BUT ONLY IF WE LET 'EM.
200+ rise up against the house thieves for a poor man with cancer
Tom Crawford's appeal
200 strangers joined forces to stop cancer sufferer, 63, being evicted by bank after he lost battle over mortgage payments
When a grandfather fighting cancer was told he would be evicted from the home he had been paying mortgage payments for for more than 20 years, he made a short, desperate video appealing for help and put it on the internet.
Within hours, Tom Crawford's eloquent plea detailing his fight with official 'thugs and bullies' had been seen by thousands on YouTube, many of whom were moved to help him keep the home where he and his wife had raised their three children.
As a result, when the bailiffs turned up to repossess the 63-year-old's modest bungalow in Carlton, Nottinghamshire, yesterday, they were met with hundreds of strangers protesting about Mr and Mrs Crawford's treatment.
In a scene reminiscent of the James Stewart film It's A Wonderful Life, more than 200 people surrounded the Crawfords' three-bedroom home, prompting police to arrive and warn the bailiffs that going through with the eviction might be a safety risk.
The astonishing display of goodwill came from strangers who been moved after watching Mr Crawford explain his family's plight in the 11-minute clip, but he is still set to lose his home because a court order for his eviction remains.
In the film, the retired flooring specialist promised well-wishers a 'lovely cup of tea' if they joined his peaceful protest against evicted from the home he and his wife, Susan, bought with a mortgage for £41,800 in 1988.
Mr Crawford, who has two grandchildren, said he and his market researcher wife had paid £300-£400 a month for the endowment mortgage for years, and expected to own the bungalow when the mortgage finished last year.
He said: 'That endowment was like an insurance policy that would cover the lump sum at the end of the mortgage.'
But Mr Crawford, who has prostate cancer, said the first hint of trouble came 12 years after taking out the mortgage, when his wife was informed that they 'would never pay off our mortgage'.
He said the couple spoke to their bank manager, who reassured them this was not the case and sent flowers and champagne by way of apology.
But he said he was then told that the mortgage had been changed from an endowment to an interest-only scheme, and that he and his wife still owed £43,000 in repayments.
He said: 'Now they say they cannot find a record of the endowment: they have lost it somewhere, and they won’t even let me see the deeds to the house.
'Now they say I owe them for that, and a mysterious arrears of £1,350 which I know I never owed.
Despite Mr Crawford claiming that he had paid off his mortgage, which he took out with the now defunct bank Bradford and Bingley, a judge ruled against him earlier this year, ordering that he pay off his mortgage by 9am yesterday or face a forced eviction.
In desperation, he took to the internet to appeal to strangers for help, saying: 'Please come and help us, but don’t use violence, they are the ones who use violence. This is a war, for the people.'
He added: 'It may only be a small bungalow, but it is my bungalow, my land, my home.'
Mr Crawford said: 'I complained to the ombudsman, but they said there was nothing they could do as my claim was date restricted.'
After a tense 90-minute stand-off, the bailiffs left empty handed.
Today Mr Crawford said: 'This has been a huge battle for me, and at times I’ve felt like no one wanted to help us.
'But this shows there are people out there who feel the same way.'
'As far as I’m concerned, I have paid my mortgage and I won’t pay a penny more.'
Mr Crawford, who was diagnosed with prostate cancer in 2011, added: 'Yesterday was amazing - it was like a real community.'
He said he and his wife had fallen behind on mortgage repayments when he was first treated for cancer and left unable to work, but said they had caught up and paid back what they owed.
Within hours of posting his film online, the video had been shared more than 7,000 times, and yesterday morning more than 200 supporters and well-wishers from around Britain staged a peaceful protest at his home.
He said: 'Now they are putting us through hell and something needs to be done about it. They can’t keep getting away with this.'
Bradford and Bingley was nationalised in 2008 during the global financial crisis, with the main banking section being sold to Abbey National, while existing mortgages were kept in public control.
Mortgages are now collected by UK Asset Resolution Limited, which was set up by the Government.
A spokesman for UK Asset Resolution would not comment on Mr Crawford's financial affairs but confirmed that yesterday's planned eviction did not go ahead because of safety concerns.
Mortgages are like putting 100's if not 1000's of dollars accumulatively on a red or black every month . At some point down the line even if you are right 99.99999999999999999999% of the time that one time you fail you are going to lose the LOT. That is the price men pay for buying into the global property scammers with the freemasons controlling the law society terrorists and their legal lackeys who have FIXED the odds against men en masse who are going to LOSE IT ALL.
It seems no matter how hard men who have LOST IT ALL try to tell men who are not even at the starting blocks, there are still millions of dupes willing to gamble IT ALL to get on the mythical property ladder. So for maybe the thousandth time lets say again ITS FIXED can you read that loud and clear? The whole global property game is fixed and the reason why so many men are walking the streets homeless after being shafted by the corruption and fraud from the legal scum who are using the law to steal with impunity.
YOU CAN'T WIN you can never beat these bastards at this racket only by avoiding their self enrichment schemes
will you survive. If your not brave enough to gamble a $100,000 or more on red or black why would you do the same
thing by buying a property that will leave you broke and penniless? There are small pockets of men waking up to the global property scammers but still to many are buying into the hype and are under the illusion they OWN stuff. Lets make this very clear you will NEVER own anything only be given the illusion by the forgers of the dodgy contracts who will, like betting red but black comes up, WIPE YOU OUT.
Nothing absolutely NOTHING can stop them by falling into the trap of playing their fixed game. Learn from men who have played that game and know the enormous repercussions that happen when a lifetime of graft is taken away at a stroke by a freemason judicial pen just like a croupier does when you lose the bet, except you have a much higher chance of winning on roulette than winning in the property game.
Ultimately, the New World Order is an extension of Usury.
Humanity must be enslaved to ensure we repay imaginary loans
(i.e. credit, currency.)
Martin Luther, quoted in Das Kapital
"The heathen were able, by the light of reason, to conclude that a usurer is a double-dyed thief and murderer. We Christians, however, hold them in such honour, that we fairly worship them for the sake of their money...
Whoever eats up, robs and steals the nourishment of another, that man commits as great a murder (so far as in him lies) as he who starves a man or utterly undoes him. Such does a usurer, and sits the while safe on his stool, when he ought rather to be hanging on the gallows."
by Anthony Migchels
This is exactly how it is! It is not one word too much!
USURY IS PURE MURDER!
It has nothing to do with 'oh, it's so honest, so reasonable, that 5% per year'.
Look at how whole nations are gutted to pay off some filthy rich trillionaires.
Billions of people live in desperate destitution because of Usury, dying prematurely, completely unnecessary. People commit suicide, haunted to the grave by creditors. It tears families apart in financial stress. By the millions. Throughout the West. The World. It is purely genocidal, there really is no way to get around it.
And we have built our entire economy on this horrid plunder. On this monstrous sin!
When will we see the simple truth as the ancients always did?
Banking is simply institutionalized Usury.
Capitalism is simply Banking.
The two rose to prominence together in Amsterdam, London and New York.
The whole Capitalist monopoly has been bought with the proceeds of compound interest lending. They are emasculating the West with interest on the debt. The Banks openly try to endebt us to the point where all our income is sucked up by debt service! Years of deflation have made our debts weigh even heavier in real terms.
Look how the tumors of 'the financial sector' are metastasizing, with their 'bonusses', 'derivatives', LIBOR manipulation, asset bubbles, defaults, bribing politicians, evictions and repossessions, Gold manipulation, media power, globalism, bail outs, bail ins, fomenting of wars. It is all an outgrowth of the cancer of Usury.
We are already thoroughly enslaved through Usury, it's not a doom scenario, it is the way we live!
In the aftermath of Usury prohibition in the medieval era, around the time of Luther, the main argument for allowing Usury was that without it people wouldn't lend. And lending was necessary for the economy, the rationale went. There was a perceived scarcity of credit.
But today we can provide all the interest-free credit we will ever need at zero cost. In several ways!
The 'time value' rationale that Jesuits in Salamanca cooked up in the 16th century has been totally discredited and is irrelevant in a decent monetary system.
Notwithstanding credit and money scarcity, the medieval man worked only 15 weeks to feed his entire family in the Usury-free economy. Bones found in England show that people there only achieved the same height as the late medieval Briton in the sixties of last century.
Compare that to the sweatshops of the 19th century, the heyday of Capitalist domination over Labor.
Imagine what our life would look like without Usury, and with plenty of dirt cheap credit plus today's technology!
Even the Jewish Question is ultimately just another front for the Usurer!
It's the Trillionaires and their banks and their World Government/Currency that we need to shut down and replace with interest-free monetary systems. Most Jewish people are just their bitches, easily sacrificed, just as we are. Without their Usury, 'the Jews' no longer are very formidable.
Usury is behind, or at the very least severely worsens, every problem on the globe. It is THE defining problem of the 99%. It is the issue of issues.
INTEREST-FREE MONEY NOW!!
First Comment by Rich:
I can't wrap my head around Migchels interest-free lending. So when we get rid of the bankers, who hands out the interest-free loans? The government? I hope not, since they pretty much suck at everything. Perhaps private citizens banding together with many loaning small amounts? How do you convince the average Joe that risking his money for the greater good at 0% interest rate is the way to go. What pays the rent on the building and the salaries of the people who work at this interest-free bank, if the place makes no money? Will they take donations? sell lollipops at the front door? Debt-free money absent a central bank sounds do-able, but if there is no interest being collected on loans, is there collateral held? If the bank doesn't have the slightest bit of power, why would anyone pay them back? It sounds very utopian, therefore impossible, to me. Don't get me wrong, I think banking is raping people as it stands. Paying $300,000 for a $100,000 house is slavery, but Migchels articles never seem to sell me his point.
Anthony Migchels Replies:
Yes. The point is and remains that all credit is created as bookkeeping by the banks. The banks do not really need reserves, that is just part of the illusion. All is created by double entry bookkeeping.
The point is not so much who does the 'lending' (bookkeeping), as long as he does it correctly: interest-free, sufficiently, inflation/deflation free and sharing the available credit in a reasonable way over the populace, who rightfully own the credit.
Semi private/semi public not-for-profit agencies with a clear cut charter supervised by a national monetary authority independent of Government could do this properly.
Here is an article on what an interest-free credit based monetary system could look like.
This discusses in clear cut fashion the main alternatives:
We don't need savings for 'lending' by bookkeeping, that's the main thing.
Nick Hanauer, an early investor
in Amazon.com, is a billionaire.
He thinks that economic disparity
should be addressed before
it leads to revolution.
Do you think his fears are justified?
"I have a message for my fellow filthy rich, for all of us who live in our gated bubble worlds: Wake up, people. It won't last."
See Comment below that says this was written by professionals as part of a set up for a political run.
by Nick Hanauer
"The Pitchforks are Coming for Us Plutocrats"
(Condensed by henrymakow.com)
"To My Fellow Zillionaires" :
I'm not the smartest guy you've ever met, or the hardest-working. I was a mediocre student. I'm not technical at all--I can't write a word of code. What sets me apart, I think, is a tolerance for risk and an intuition about what will happen in the future. Seeing where things are headed is the essence of entrepreneurship. And what do I see in our future now?
I see pitchforks. At the same time that people like you and me are thriving beyond the dreams of any plutocrats in history, the rest of the country--the 99.99 percent--is lagging far behind. The divide between the haves and have-nots is getting worse really, really fast. In 1980, the top 1 percent controlled about 8 percent of U.S. national income. The bottom 50 percent shared about 18 percent. Today the top 1 percent share about 20 percent; the bottom 50 percent, just 12 percent.
But the problem isn't that we have inequality. Some inequality is intrinsic to any high-functioning capitalist economy. The problem is that inequality is at historically high levels and getting worse every day. Our country is rapidly becoming less a capitalist society and more a feudal society. Unless our policies change dramatically, the middle class will disappear, and we will be back to late 18th-century France. Before the revolution.
And so I have a message for my fellow filthy rich, for all of us who live in our gated bubble worlds: Wake up, people. It won't last.
If we don't do something to fix the glaring inequities in this economy, the pitchforks are going to come for us. No society can sustain this kind of rising inequality. In fact, there is no example in human history where wealth accumulated like this and the pitchforks didn't eventually come out. You show me a highly unequal society, and I will show you a police state. Or an uprising. There are no counterexamples. None. It's not if, it's when.
INEQUALITY IS UNNECESSARY
The most ironic thing about rising inequality is how completely unnecessary and self-defeating it is. If we do something about it, if we adjust our policies in the way that, say, Franklin D. Roosevelt did during the Great Depression--so that we help the 99 percent and preempt the revolutionaries and crazies, the ones with the pitchforks--that will be the best thing possible for us rich folks, too. It's not just that we'll escape with our lives; it's that we'll most certainly get even richer.
The model for us rich guys here should be Henry Ford, who realized that all his autoworkers in Michigan weren't only cheap labor to be exploited; they were consumers, too. Ford figured that if he raised their wages, to a then-exorbitant $5 a day, they'd be able to afford his Model Ts.
What a great idea. My suggestion to you is: Let's do it all over again. We've got to try something. These idiotic trickle-down policies are destroying my customer base. And yours too...
Which is why the fundamental law of capitalism must be: If workers have more money, businesses have more customers. Which makes middle-class consumers, not rich businesspeople like us, the true job creators. Which means a thriving middle class is the source of American prosperity, not a consequence of it. The middle class creates us rich people, not the other way around...
SPREADING THE WEALTH IS THE ANSWER
The standard response in the minimum-wage debate, made by Republicans and their business backers and plenty of Democrats as well, is that raising the minimum wage costs jobs. Businesses will have to lay off workers. This argument reflects the orthodox economics that most people had in college. If you took Econ 101, then you literally were taught that if wages go up, employment must go down. The law of supply and demand and all that. That's why you've got John Boehner and other Republicans in Congress insisting that if you price employment higher, you get less of it. Really?
Because here's an odd thing. During the past three decades, compensation for CEOs grew 127 times faster than it did for workers. Since 1950, the CEO-to-worker pay ratio has increased 1,000 percent, and that is not a typo. CEOs used to earn 30 times the median wage; now they rake in 500 times. Yet no company I know of has eliminated its senior managers, or outsourced them to China or automated their jobs. Instead, we now have more CEOs and senior executives than ever before. So, too, for financial services workers and technology workers. These folks earn multiples of the median wage, yet we somehow have more and more of them.
The thing about us businesspeople is that we love our customers rich and our employees poor. So for as long as there has been capitalism, capitalists have said the same thing about any effort to raise wages. We've had 75 years of complaints from big business--when the minimum wage was instituted, when women had to be paid equitable amounts, when child labor laws were created. Every time the capitalists said exactly the same thing in the same way: We're all going to go bankrupt. I'll have to close. I'll have to lay everyone off. It hasn't happened. In fact, the data show that when workers are better treated, business gets better. The naysayers are just wrong.
Most of you probably think that the $15 minimum wage in Seattle is an insane departure from rational policy that puts our economy at great risk. But in Seattle, our current minimum wage of $9.32 is already nearly 30 percent higher than the federal minimum wage. And has it ruined our economy yet? Well, trickle-downers, look at the data here: The two cities in the nation with the highest rate of job growth by small businesses are San Francisco and Seattle. Guess which cities have the highest minimum wage? San Francisco and Seattle. The fastest-growing big city in America? Seattle. Fifteen dollars isn't a risky untried policy for us. It's doubling down on the strategy that's already allowing our city to kick your city's ass...
SUPER RICH DON'T CONSUME ENOUGH
We rich people have been falsely persuaded by our schooling and the affirmation of society, and have convinced ourselves, that we are the main job creators. It's simply not true. There can never be enough super-rich Americans to power a great economy. I earn about 1,000 times the median American annually, but I don't buy thousands of times more stuff. My family purchased three cars over the past few years, not 3,000. I buy a few pairs of pants and a few shirts a year, just like most American men. I bought two pairs of the fancy wool pants I am wearing as I write, what my partner Mike calls my "manager pants." I guess I could have bought 1,000 pairs. But why would I? Instead, I sock my extra money away in savings, where it doesn't do the country much good.
So forget all that rhetoric about how America is great because of people like you and me and Steve Jobs. You know the truth even if you won't admit it: If any of us had been born in Somalia or the Congo, all we'd be is some guy standing barefoot next to a dirt road selling fruit. It's not that Somalia and Congo don't have good entrepreneurs. It's just that the best ones are selling their wares off crates by the side of the road because that's all their customers can afford.
So why not talk about a different kind of New Deal for the American people, one that could appeal to the right as well as left--to libertarians as well as liberals? First, I'd ask my Republican friends to get real about reducing the size of government. Yes, yes and yes, you guys are all correct: The federal government is too big in some ways. But no way can you cut government substantially, not the way things are now. Ronald Reagan and George W. Bush each had eight years to do it, and they failed miserably.
Republicans and Democrats in Congress can't shrink government with wishful thinking. The only way to slash government for real is to go back to basic economic principles: You have to reduce the demand for government. If people are getting $15 an hour or more, they don't need food stamps. They don't need rent assistance. They don't need you and me to pay for their medical care. If the consumer middle class is back, buying and shopping, then it stands to reason you won't need as large a welfare state. And at the same time, revenues from payroll and sales taxes would rise, reducing the deficit.
Makow Comment: The Patriot Act, Homeland Security Dept. and militarized police departments are there to protect billionaires like him. He anticipates "the pitchforks" - something like the French and Russian Revolutions - will address inequality in America. Those "revolutions" weren't about equality. They were contrived by the Masonic Jewish bankers as a pretext to take power. America is their catbird seat and they aren't about to give it up!
Should Hanauer be worried about a pogrom rather than revolution? According to some estimates, almost half of US
billionaires are Jews. And given what Illuminati Jews and Freemasons are doing to America, economic inequality may be
the least of their sins.
Rich getting richer as everyone else is getting poorer, Government's own figures reveal
The latest statistics from the Office for National Statistics shows that the household disposable income increased ONLY for the richest fifth of homes
Pressure: Trying to make ends meet is tougher as disposable incomes fall for all but the rich
The rich are getting richer while everyone else gets poorer under the Tory-led Coalition, official figures revealed today.
The latest statistics from the Office for National Statistics shows that the household disposable income increased ONLY for the richest fifth of homes.
Before taxes and benefits the richest fifth of households had an average income of £81,300 in 2012-13, almost 15 times greater than the poorest fifth who had an average income of £5,500.
And the richest fifth of households saw their income grow by £940 between 2011/12 and 2012/13, while the disposable income of all the other groups fell by around £250, with the poorest households experiencing the sharpest fall of £381.
Frances O’Grady, TUC general secretary, said: “The gap between rich and poor is growing again after a brief post-crash pause.
"Last year the richest households got richer, while everyone else got poorer.
“This is further proof that most people are failing to have a fair share in the benefits of recovery.
“The return of rising inequality should worry everyone as it suggests that nothing has been learned from the financial crisis despite the huge fall in living standards that so many people are still experiencing.”
Meanwhile, a new report shows that pay deals have slowed down in recent months, with many public sector workers seeing their wages frozen.
A study by pay analysts XpertHR showed the median increase in the three months to May was 2%, down from 2.5% in the first quarter of the year.
But settlements in the public sector were around 1%, with one in seven workers having their pay frozen.
Workers in manufacturing and production industries were paid a median rise of 2.5%, the analysis of almost 300 deals showed.
Two out of five agreements were worth the same or more than the 2.4% May RPI inflation figure.
XpertHR pay and benefits editor Sheila Attwood said: “Employers are continuing to take a cautious approach to pay reviews, with settlements of 2% in the private sector at the same level as seen over the latter part of 2013.
“Despite some positive news on the economy, pay award levels are expected to remain subdued for the time being.”
Gutter press who promoted austerity for years expose the real reason, to make the rich richer by £520bn
Ferne House where the Daily Mail owner Harmsworth lives and only one of his mansions
while the peasants are forced to live in squalor on sink estates in tiny boxes.
Pseudo austerity NEVER affected the ultra rich only made them even wealthier while the peasants
continued to lanquish in poverty and deprivation and the right wing fascist rags celebrate as
if that is something to be proud of. Always leaving out the VAST trillions owned by the royal parasite behind the
army of freemasons ensuring inequality will remain a stain on the landscape of a vile regime
until the peasants rise up and get rid the UK's parasites and political and legal henchmen who are
the cause of that massive inequality.
Britain's richest people are wealthier than ever before, with a combined fortune of almost £520bn, according to the Sunday Times Rich List.
The total wealth of the richest 1,000 individuals, couples or families jumped 15% in a year, the survey said.
Wealth expert Philip Beresford, who compiled the list, said he had never before seen such a "phenomenal" rise in personal fortune.
Tycoons the Hinduja brothers were top with a joint fortune of £11.9bn.
Srichand and Gopichand Hinduja replace Arsenal FC shareholder Alisher Usmanov at the top of the annual list.
Mr Beresford said: "The richest people in Britain have had an astonishing year. While some may criticise them, many of these people are at the heart of the economy and their success brings more jobs and more wealth for the country."
The total figure for the Rich List is equivalent to a third of the UK's gross domestic product.
Property and gaming
New entries include the makers of computer games.
Sam and Dan Houser, who created Grand Theft Auto, are at 947 on the list with a joint wealth of £90m.
Four of the creators of Candy Crush Saga have jumped onto the list, all with fortunes worth hundreds of millions of pounds.
Another new name on the list is former Tesco boss Sir Terry Leahy who is worth £100m and ranked 863rd.
The highest new entry is Carrie and Francois Perrodo and their family who own the London-based Perenco oil and gas operation. As a family unit, they are worth £6.14bn and come in at 14th on the rich list.
One place behind and also a first-timer on the list is German Khan, who runs the global oil and gas fund L1 Energy and is said to be worth £6.08bn.
Paul Sykes, the entrepreneur and property magnate who helped fund UKIP, is another new entry at 155, with a fortune of £650m.
Another significant debutant on the Rich List is John Roberts, creator of AO.com, the household appliance internet retailer. He is ranked 246th.
And Peter Cashmore, the 28-year-old who started the social media blog Mashable from a room in his parents' house near Aberdeen, is said to be worth £120m.
Alex Chesterman who co-founded online movie rental business Lovefilm and then went on to set up property website Zoopla is now worth £100m and is another newcomer to the Rich List.
Celebrity chef Jamie Oliver and his wife Jules saw their fortune leap £90m to £240m with their restaurant chains, TV appearances and her childrenswear range.
A number of other celebrities saw their fortunes continue to expand according to the Rich List. Simon Cowell is now worth £300m, David and Victoria Beckham cushioned the blow of his footballing career coming to an end and are now worth £210m, while David Bowie's return to the limelight saw his wealth expand to £135m.
The Queen, who has been on every Sunday Times Rich List since she topped the first one in 1989,
is now worth £330m but that is only enough to see her ranked 285th. (ONE OF THE BIGGEST LIES THE GUTTER PRESS SPIN)
At least £85m is needed to make it onto the list, up from the £80m in 2008, before the economic crash.
The 26th annual Sunday Times Rich List profiles the 1,000 richest individuals and families in the UK and the wealthiest 250 in Ireland.
Last week, it was revealed that the number of billionaires living in the UK had risen to more than 100 for the first time.
The Rich List said there were 104 billionaires with a combined wealth of more than £301bn.
It meant the UK had more billionaires per head of population than any other country.
Britain's richest 1% own as much as poorest 55% of population
When Eton groomed scum like Cameron (Bullingdon mafia) are manipulated into power via the media like Murdoch's VILE rags you get these creeps
able to thieve with impunity. HOW? because they make up the laws and legislation to suit their tax dodging and bank scams that
they and their forefathers
have fostered using their legal and political positions.
Britain's richest 1% have accumulated as much wealth as the poorest 55% of the population put together, according to the latest official analysis of who owns the nation's £9.5tn of property, pensions and financial assets.
In figures that also lay bare the extent of inequality across the north-south divide, the Office for National Statistics said household wealth in the south-east had been rising five times as fast as across the whole country.
The average wealth of households in the southeast had surged to £309,000 at the end of 2012, up 30% since the first wealth report published by the ONS covering 2006-8 – while the average rise in England was only 6%.
But wealth in the north-east had fallen, the only region where it did so, to an average of just under £143,000. In Scotland the figure was £165,500.
The data also shows that one in nine households have second homes or rental properties and one in 14 sport a personalised number plate on their car.
Northern regions lost out after a dramatic rise in stock market values that was grabbed mostly by households in the south east, the ONS figures show.
The situation is likely to have worsened following an 18% surge in house prices over the past year in the south-east and even higher at the top end of the market.
A rush to save among richer households as the recession deepened boosted the nation's total wealth and ensured Britain's long-established financial inequality remained in place, with the top 10% laying claim to 44% of household wealth – while the poorest half of the country had only 9%.
Rachael Orr, Oxfam's head of poverty in the UK said the figures were a "shocking chapter in a tale of two Britains".
The charity recently reported that five billionaire families controlled the same wealth as 20% of the population. "It is further evidence of increasing inequality at a time when five rich families have the same wealth as 12 million people," she said. "We need our politicians to grasp the nettle and make the narrowing gap between the richest and poorest a top priority. It cannot be right that in Britain today a small elite are getting richer and richer while millions are struggling to make ends meet."
Duncan Exley, director of the Equality Trust, said: "The grotesque concentration of wealth in the hands of a tiny minority is fracturing our society, weakening our economy and giving disproportionate power to the richest. Unless policymakers adopt a clear goal of reducing the gap between the richest and the rest, they will have to govern an increasingly dysfunctional nation."The report comes after French economist Thomas Piketty has ignited international debate about inequality by documenting the rapid accumulation of assets by the top 1% over the four decades since the 1970s.
Britain's top 1% saw their share of wealth increase slightly in the four years before 2012, grabbing the same share as 54.9% of the population, up from 54.2% in 2008/10.
But the Treasury said the report showed that wealth inequality had remained the same throughout the six years up to 2012 while income inequality had declined to levels last seen in 1986. A spokesperson said the government's efforts to protect the poorest during the recession had worked.
"The effects of the Great Recession are still being felt which is why we have taken continued action to help hardworking people by cutting income tax and freezing fuel duty.
"And we want to help more people to save for their future or own their own home which is why we are giving people more flexibility over their pensions and introducing Help to Buy. At the same time we have introduced new higher rates of stamp duty on the most expensive homes and done more than any previous government to crack down on tax evasion and avoidance in order to ensure that everyone pays their fair share in tax."
Critics of the wealth report said it failed to capture the huge diversion of wealth to offshore tax havens, which account for trillions of pounds worth of savings.
A series of investigations into offshore tax havens have documented the success of their banks in attracting a steady rise in the savings and financial assets of the richest 1%.
There was also a clear disparity between women and men over who owns the most homes, pensions, cars and stocks and shares. The average value of men's total pension wealth was nearly twice as high as women's in 2010/12 – £63,000 compared with £34,800.
The power of the grey pound is highlighted in the report by several measures, including one showing that couples without children, where one person is over and the other under the state pension age, have the highest total wealth at £607,800, up from £452,000 in 2006.
ONE OF THE LARGEST ABUSES OF THE AMERICAN BANKING SYSTEM (FROM 2010) VIDEO
U.S. Congress money laundering hearing of Saudi Billionaire " Maan Al sanea"
with Bank of America and The owner of Saad Hospital and Schools
in the Eastern Province in Saudi Arabia and the Chairman of the Board of Directors of Awal Bank in Bahrai
Coco Cola chief gets roasted by Ray Rogers at their shareholders meeting VIDEO
Did Muhtar Kent get the TOP job at Coca Cola on merit or is there more?
Necdet Kent was his father and here is some history
Ismail Necdet Kent (1911 – September 20, 2002) was a Turkish diplomat who
risked his life to save Jews during World War II.
In 2001, Kent, Namik Kemal Yolga and Selahattin Ülkümen, also Turkish
diplomats who had worked in Europe and saved Jews during World War II, were
honoured with Turkey's Supreme Service Medal, as well as a special medal
from Israel, for rescuing Jews during the Holocaust.
Necdet Kent married and had children. One son is Muhtar Kent, president
of The Coca Cola Company since July 2008.
Another banker found dead along with wife and daughter
A mere two weeks since former JPMorgan banker, Kenneth Bellando jumped to his death, Bloomberg reports that the former CEO of Dutch Bank ABN Amro (and his wife and daughter) were found dead at their home after a possible “family tragedy.”
This expands the dismal list of senior financial services executive deaths to 12 in the last few months.
The 57-year-old Jan Peter Schmittmann, was reportedly discovered by his other daughter when she arrived
home that morning.
Police declined to comment on the cirumstances of his (and his wife and daughter’s) death.
This is not the first C-level ABN Amro banker to be found dead. In 2009, former CFO Huibert Boumeester was discovered with (assumed self-inflicted) shotgun wounds.
As Bloomberg reports,
Former ABN Amro Group NV Netherlands Chief Executive Officer Jan Peter Schmittmann, his wife and a daughter were found dead at their home today after a possible “family tragedy,” Dutch police said.
“The bodies of a father and mother and their daughter were found at the property” in the town of Laren, 32 kilometers (20 miles) southeast of Amsterdam, Dutch police said in a statement on their website today. Leonie Bosselaar, a police spokeswoman, said in a telephone call with Bloomberg News that the deceased were Schmittmann and two family members.
The police received a call around 10:30 a.m. local time from a family acquaintance who said something may be wrong at the property, according to the statement. Bosselaar declined to comment further on what may have happened.
The Dutch newspaper AD reported, without citing anyone, that the familywas discovered by Schmittmann’s second daughter when she arrived home this morning. She was scheduled to travel to India with her parents, where she had an internship lined up, the newspaper said.
Schmittmann, 57, joined ABN Amro in 1983 as assistant relationship manager and was named head of the lender’s Dutch unit in 2003. He stepped down from the Amsterdam-based bank in December 2008, after the company was nationalized earlier that year.
Sadly, given recent trends, the default assumption is that it is suicide until proven otherwise which is just as disturbing from a sociological perspective. (on the bright side, at least as far as we know, we was not involved in HFT) but further to that, this is not the first ABN Amro seniot executve to be found dead. In 2009, Schmittmann’s former CFO was found dead from shitgum wounds:
The former chief financial officer of Dutch bank ABN Amro has been found dead with shotgun wounds near his home in Surrey, the BBC has reported.
Huibert Gerard Boumeester was found dead yesterday, Sunday, with shotgun wounds, one week after being reported missing and “vulnerable”. Reports claim he was found with two shotguns which he had brought from his home, though Thames Valley Police say his death is currently being treated as “unexplained”.
Boumeester, 49, left his role as CFO encompassing responsibility for group-wide finance, risk management, investor relations, communications and strategic decision support in March 2008 citing “personal reasons” six months after ABN Amro was bought by Fortis, Royal Bank of Scotland and Santander. The Dutch government now owns Fortis Bank and has taken direct ownership of its stake in ABN Amro.The British government owns most of RBS.
There are suggestions that Boumeester took his own life…
Schmittmann owned 2phase2 (apparently an asset management company) and was a co-founder of 5 Park Lane (what appears to be a private equity / management consultancy) according to his LinkedIn profile:
This brings the sad list of senior financial services exectives who have died in the last few months to 12:
1 – William Broeksmit, 58-year-old former senior executive at Deutsche Bank AG, was found dead in his home after an apparent suicide in South Kensington in central London, on January 26th.
2 – Karl Slym, 51 year old Tata Motors managing director Karl Slym, was found dead on the fourth floor of the Shangri-La hotel in Bangkok on January 27th.
3 – Gabriel Magee, a 39-year-old JP Morgan employee, died after falling from the roof of the JP Morgan European headquarters in London on January 27th.
4 – Mike Dueker, 50-year-old chief economist of a US investment bank was found dead close to the Tacoma Narrows Bridge in Washington State.
5 – Richard Talley, the 57 year old founder of American Title Services in Centennial, Colorado, was found dead earlier this month after apparently shooting himself with a nail gun.
6 – Tim Dickenson, a U.K.-based communications director at Swiss Re AG, also died last month, however the circumstances surrounding his death are still unknown.
7 – Ryan Henry Crane, a 37 year old executive at JP Morgan died in an alleged suicide just a few weeks ago. No details have been released about his death aside from this small obituary announcement at the Stamford Daily Voice.
8 – Li Junjie, 33-year-old banker in Hong Kong jumped from the JP Morgan HQ in Hong Kong this week.
9 – James Stuart Jr, Former National Bank of Commerce CEO, found dead in Scottsdale, Ariz., the morning of Feb. 19. A family spokesman did not say whatcaused the death
10 – Edmund (Eddie) Reilly, 47, a trader at Midtown’s Vertical Group, commited suicide by jumping in front of LIRR train
11 – Kenneth Bellando, 28, a trader at Levy Capital, formerly investment banking analyst at JPMorgan, jumped to his death from his 6th floor East Side apartment.
12 – Jan Peter Schmittmann, 57, the former CEO of Dutch bank ABN Amro found dead at home near Amsterdam with wife and daughter.
85 of the uber rich have same wealth as half the world
More or Less, the BBC team that investigates numbers and statistics, is often asked to check out claims that readers or listeners to the radio programme find hard to believe.
Here are four often-quoted facts that the team has looked into.
Are the 85 richest people in the world as wealthy as the world's poorest half?
A number of listeners got in touch to ask about this fact, widely reported around the world, from the Washington Post to CNN.
The figure comes from a report by British aid charity Oxfam. It got lots of attention, so the charity produced another figure for the UK, stating that the five richest families had more wealth than the poorest 20%. But how were these figures calculated?
Ricardo Fuentes-Nieva, head of research at Oxfam GB, looked at data from the Global Wealth Report 2013 produced by bank Credit Suisse.
An elderly woman lies on the ground begging for alms in main street on the northern Greek port city of Thessaloniki in 2013
He totted up the total wealth that was attributed to the poorer half of the world's population - less than 1% of the world's wealth, about $1.7tn (£1tn).
He then went to the Forbes rich list and tallied up all the wealth of the top billionaires until he reached 1.7 trillion US dollars, reaching the 85th richest person in the world. The UK figure was calculated in a similar manner - using the Credit Suisse data and the Forbes list.
"We acknowledge, everyone acknowledges, that it has shortcomings but it is as good as it gets," says Fuentes-Nieva.
The comparison has certainly generated headlines but is it reasonable?
There is a problem with Oxfam's comparison because counter-intuitively, low wealth does not mean you are poor, says Dr Anthony Shorrocks, former director of the United Nations University World Institute for Development Economics Research, and one of a number of respected economists behind the Credit Suisse report.
Some people in Western countries who fall into the bottom 50% for wealth may not be poor in the true sense. They might be a graduate in the UK laden with debt and no assets, or a young professional who spends all their income.
The other misconception, according to Deirdre McCloskey, professor of economic history at Gothenburg University in Sweden, is that these super-rich individuals have so much wealth that it's making half the world poor.
But if you took all the money of the 85 richest people and gave it to the poor in a one-off payment, she says, it would only increase each person's wealth by about $500 (£300).
To anyone concerned
MtGox Co., Ltd.
ANNOUNCEMENT REGARDING AN APPLICATION FOR COMMENCEMENT
OF A PROCEDURE OF CIVIL REHABILITATION
MtGox Co., Ltd. made today an application for commencement of a procedure of civil rehabilitation
at the Tokyo District Court. This application was accepted on the same day. Further,
MtGox Co., Ltd is under several orders issued by the Court : a preservative order prohibiting it from
paying its debts, transferring its assets or establishing security over its assets, an order establishing a
comprehensive prohibition of forced attachment of its assets by its creditors and a supervisory order
ordering supervision by a supervisory committee. In consequence, MtGox hereby informs you as
We first express our most sincere regrets and apologies for this situation and for causing so much
inconvenience to all our users and other interested parties.
We will fully respect the above orders and maintain our assets with all the necessary care.
Financial situation, reasons and timeline leading to this application
(1)As of now, the liabilities of MtGox Co., Ltd exceed its assets and its financial situation is
Total amount of assets
Total amount of current liabilities
The increase of current liabilities may be linked to a loss of bitcoins and customer funds.
These are now investigated by an expert and all efforts are made to discover the truth. This
application was prompted by the following troubles:
At the start of February 2014, illegal access through the abuse of a bug in the
bitcoin system resulted in an increase in incomplete bitcoin transfer transactions
and we discovered that there was a possibility that bitcoins had been illicitly
moved through the abuse of this bug.
As a result of our internal investigation, we found that a large amount of bitcoins
had disappeared. Although the complete extent is not yet known, we found that
approximately 750,000 bitcoins deposited by users and approximately 100,000
bitcoins belonging to us had disappeared.
We believe that there is a high probability that these bitcoins were stolen as a
result of an abuse of this bug and we have asked an expert to look at the
possibility of a criminal complaint and undertake proper procedures.
On the same day (24
), we found out large discrepancies between the amount of
cash held in financial institutions and the amount deposited from our users. The
amounts are still under investigation and may vary but they approximate JPY 2.8
We are investigating the causes of these problems. Since there are probably a
variety of causes including hacking by third parties, we need to investigate a
huge amount of transaction reports in order to establish the truth. As of this date,
we cannot confirm the exact amount of missing deposit funds and the total
amount of bitcoins which disappeared.
Once we discovered that bitcoins had disappeared and the discrepancies between
cash funds and deposit balances, we judged that it would be difficult to continue
our activities normally and we therefore closed our site at noon on the 25
Regarding the filing of a complaint or damages report, an expert has been mandated and
investigations have started. We will make all efforts to ensure that crimes are punished and
Further we will fully cooperate with inquiries from authorities and investigations related to
this matter, in Japan or overseas.
In order to increase repayments to our creditors, it is necessary to explore the possibility of
having MtGox Co., Ltd. continue its business. This is why the civil rehabilitation procedure has been