Disability campaigner Sue Marsh at Oct20 Rally


The extraordinary Disability campaigner Sue Marsh speaking at Oct20 Rally, in spite of her considerable health issues.  The living nightmare of government cuts to the benefits of the most vulnerable people in society must be stopped and reversed.

Friends, every last one of you that marched today believe in one thing above any other. Justice.
You couldn’t sit at home while injustice and exploitation are closing in on us wherever we look.
You are the faces, here, today, of so many millions more who are shocked and frightened by the careless way this coalition of clowns are ripping our communities apart.
But there is a casual cruelty taking place that is so inhumane, so calculating, right now, here, in the UK in 2012, that it shames us all.  
When you get home tonight, home to every corner of our nation, tired but exhilarated, weary but filled with pride – When  you see the vast,  defiant crowd, speaking with one voice, I beg you, to remember this :
For every one of you who marched today, a seriously ill or disabled person will lose the Disability Living Allowance they rely on to live with dignity and a little security.
This parliament of fools use numbers lightly. They count their losses in billions, their debt, in trillions, those thrown on the scrapheap of their incompetent policies in millions.
But THIS – this here, today – is what half a million people look like.
But there’s more :
A million more – TWICE as many as you marching here today – will be “reassessed” by the French IT company, Atos as fit for work. Their only income ripped away on the hunch of a few millionaires. Every single “report” or “committee” or “enquiry” into Work Capability Assessments have found them “Unfit for purpose”.
Coroner’s are reporting this “reform terror” as cause of deaths. Doctors demand WCAs are withdrawn immediately. Appeal tribunals warn that they are swamped to crisis point and beyond. 
Hundreds of thousands of profoundly disabled children will see their support cut by an impossible 50% while Osborne’s “Bullingdon Budget” gave millionaires £40,000 extra. Each.
The Independent Living Fund – Scrapped
Severe Disability Premiums – Scrapped
Social Care packages – slashed
They are not numbers Mr Cameron, they are LIVES!
They are our mothers; our brothers; our daughters and sons.
Disease or Disability can strike any one, at any time.
We are the sick and disabled people of the UK, so under threat are urgently crying for help against the wind, like a drowning man. 
And so, I’d like to leave you with the words of Edmund Burke :
 ”Justice will NOT be served until those who are unaffected are as outraged as those who are.”
PLEASE get outraged, because sick and disabled people in the UK need you as never before. 

Max Keiser and the Carry Trade


People & Power – Money Geyser- 05 Aug 07 – Part 1

People & Power – Money Geyser- 05 Aug 07 – Part 2

Uploaded by  on Aug 16, 2007

Max Keiser looks at the global asset bubble and the record levels of debt caused by the carry trade.

Definition of ‘Currency Carry Trade’

A strategy in which an investor sells a certain currency with a relatively low interest rate and uses the funds to purchase a different currency yielding a higher interest rate. A trader using this strategy attempts to capture the difference between the rates, which can often be substantial, depending on the amount of leverage used.

Investopedia explains ‘Currency Carry Trade’

Here’s an example of a “yen carry trade”: a trader borrows 1,000 Japanese yen from a Japanese bank, converts the funds into U.S. dollars and buys a bond for the equivalent amount. Let’s assume that the bond pays 4.5% and the Japanese interest rate is set at 0%. The trader stands to make a profit of 4.5% as long as the exchange rate between the countries does not change. Many professional traders use this trade because the gains can become very large when leverage is taken into consideration. If the trader in our example uses a common leverage factor of 10:1, then she can stand to make a profit of 45%. 

The big risk in a carry trade is the uncertainty of exchange rates. Using the example above, if the U.S. dollar were to fall in value relative to the Japanese yen, then the trader would run the risk of losing money. Also, these transactions are generally done with a lot of leverage, so a small movement in exchange rates can result in huge losses unless the position is hedged appropriately.