Barclays

I do not expect too many judges in hallowed courts of justices around the world have ever heard the defence of: ‘I am sorry, my actions, m’lud, fell well short of standards.’ Barclay's Bank do not act alone of course – they are just first up to the gallows. Capitalism or the market economy is fighting for its survival on two fronts: the physical campaign for oil and resources, and, the clamour for unrisky borrowing to keep the credit bubble pumped up and afloat. The Barclay's fine has revealed that what seemed secure at the time (borrowing at low, stable interest rates) could have been a fallacy.  The world is run by bankers and politicians neither of who can be trusted with even bringing back the change after getting a pint of milk from the corner shop.

NHS Trust faces dissolving.

With massive debts of an astonishing £69 million – caused by the negligent use of money to provide healthcare – a NHS trust in Sarf London faces the axe.  Unlike banks who can totally fuck up the country with a click on a software update, fiscally challenged hospitals are targets for the chop. RBS, the nation's bank, paid  bonuses of an estimated £390 million last Chrimbo – over five times the debt of the South London healthcare trust.  Health Secretary, Andrew Lansley wrote to the trust: "A central objective for all providers is to ensure they deliver high-quality services to patients that are clinically and financially sustainable for the long term.” I pay my taxes and National Insurance and effectively employ both Lansley and health administrators and I have never agreed to that so called central objective. Furthermore, it cannot be one objective with those two opposing criterions. If banks were judged in the same manner the RBS should have been uninstalled but they were bailed out by the government and continue to be so. RBS, the bank that likes to say ‘Sorry’, lost £2 billion in 2011 and £1.1 billion in 2010.

 

England Out, Mugly and Roy.

England lost on penalties against Italy in the early hours of the morning in Kiev. It was lucky that England have the option to lose on penalties as, last night, they were quite diabolical apart from the first twenty minutes. So, fortunately, we can continue to sulk about being the most unluckiest world class football team who only ever go out on penalties. As in South Africa in 2010, England were sh*t in the group stage but we awaited the ugly duckling to grow into a beautiful swan for the knockout stage. But, just as in SA, the ugly duckling was not a swan after all and turned out to be to be the ugliest dog in the world instead – a title we have just won with Mugly at the contest in California.

The post match analysis will probably include contributions from Robert Peston and Newsnight. Editorials will be full of fair-weather football follower’s comments full of borrowed clichés about keeping possession, passing, inferior ball skills, technical edge, outplayed, over paid, expectations, average, courage, can’t compete, go to pieces, Roy Higson’s battle against the odds, kit design, and, of course, penalties. None of these are the real reason we lost. We lost because I did not go to my lucky pub – simple as that: no lucky London Pride; no lucky Mr Porky Extra Hairy Pork Scratchings; no lucky urinal splash back.

Life will be back to normal next week. I can attend my triple heart bypass operation on Thursday afterall; I can turn my attention back to the tax demand from the HMRC (I stupidly joined a flawed tax avoidance scheme called R2D2 instead of going with Jimmy Carr) and, of course, Roy Higson will be back at the his dry cleaning business in Cheam.

Alonso wins brilliantly in Valencia

What a talent! Alonso started 11th on the grid in Valencia but, after a number of mishaps with other drivers, climbed up to take the lead and first on the podium. All this less that twenty-four hours after scoring two against France to see Spain through to a semi-final against Portugal in Euro 2012!

Tax, laws and university

There are laws about not paying tax. I do not recall ever agreeing to a law that asks me to pay tax but that is another story. But, unlike other laws, there are, following Jimmy Carr’s outing’, ways that one can pay less tax. One cannot increase one’s personal speed or alcohol limit, or introduce special reasons why one should be able to embezzle your employer but one can get clever and pay less tax.

Jimmy Carr and Chris Hoy have both enjoyed top of the range education. There a billions of children who’d jump at the opportunity to study at Cambridge University or St. Andrews (university not golf club) and out of those billions and the tiny fraction of those who make it perhaps one student will turn their attention and employ their intellectual skills to something worthwhile. Jimmy Carr maybe quite smart but, to what purpose has he applied himself?: dodging tax and telling jokes. You meet people like him in pubs.

There should be a responsibility taken on board when one does get to a high end university as the place that is taken up has, down the years, been paid for by the people who won’t ever get there. However rather than take up that responsibility there is an attitude that one is above, or should be treated differently in, law as one believes one to be exceptional and not one of the masses (who laws are, by and large, intended for).

Joleon

(Sung to the tune of 'Jolene' by Dolly Parton)


Joleon, Joleon, Joleon, Joleon

I’m begging of you please don't foul that man

Joleon, Joleon, Joleon, Joleon

Please don't push him because he’s Ital-ian

Your timing is hardly beyond compare

With flailing arms when you’re in the air

We love you to bits with your cheeky grin

Your goal was like a breath of spring

But your passing is too soft and drives me insane

And I sometimes cannot bear to watch you, Joleon

Miliband: Labour 'got it wrong' on immigration

I expect that plenty of the now unwanted immigrants from the edges of the EU, doing their crappy jobs cleaning toilets and the streets, have each paid more tax in the last couple of years than that estimable British stand up comedian Jimmy Carr.

England win - possibly; translated from El Pais using Google Translate

The Euro recovered the day Rooney ran out of hosts. Resisted as little as Ukraine and Poland tournament, with just two champions Holland and Russia, moves into its decisive phase with the main contenders: six graduates (Spain, France, Italy, Greece, Czech Republic and Germany) and two classics Portugal and England, which won first place in Group D after a game that is not rewound in schools football. Yes arbitration should be in classrooms and in the offices of FIFA, because neither the referee montonera now put the magnifying glass dispelled doubts about an apparent local goal that Terry rejected under the crossbar. A move that both could get in serious trouble in England as in France, who fell to Sweden. In the end, England, without fanfare, as commanded in the result with a goal from Rooney Pyatov given by the keeper. Ukraine Nothing more, Britain is not overrun. Waiting Italy.England, 1 - UKRAINE, 0
England: Hart, Johnson, Terry, Lescott, Ashley Cole, Milner (Walcott, m. 70), Gerrard, Parker, Young, Welbeck (Carroll, m. 82) and Rooney (Oxlade-Chamberlain, m. 87).
Ukraine: Pyatov; Gusev, Rakitskiy, Khacheridi, Selin; Yarmolenko, Tymoshchuk, Konoplyanka; Milevskiy, Garmash, and Devic.
Goal: Rooney takes Pyatov failure to put his head on the goal line.
Referee: Viktor Kassai. Admonished Ashley Cole, Gerrard, Shevchenko, Tymoshchuk and Rakitskiy.
One of the wedges that football is metabolized is the poster of England, imposed wherever he goes, without repair that his only throne 46 years ago, who has never played in a European Championship final and not reaching even to the semifinals of the World Cup since 1990. But the echoes Anglo-Saxon and the glitter of a Babel Premier increasingly they padded their poor performance, its flood of disappointment. This time even his most faithful are granted the right to dream. The shift in the direction the team has not aroused much enthusiasm. The potion did not work and now Fabio Capello has returned to the home remedy, with Roy Hodgson, who has gone through 18 different benches since it started its career in the mid-seventies. For now, the team has led to the quarter that game more effectively.
Over the years, and imports from the Premier League, England has lost that point, some purists would say naive, that made him a team always ahead, determined, with verve, privateer in the two areas. Today has been painted without fluffing the best of other currents. It has stayed in the middle of the channel. He showed against Ukraine, with which he intended to manage without the point they needed. The only survivor host did not respond to the massive English. Their resources are very limited, to the extent that its captain and scorer of the tournament, Shevchenko, its almost 36 years, has no gas for the grind of a tournament. Blokhin, his coach gave him air on the bench until twenty minutes late. In Ukraine, as I happen to Poland, was not satisfied with the local fervor, you need many other bonuses.
Over the years, and imports from the Premier League, England has lost that point, some purists would say naive, that made him a team always ahead, determined, with verve, privateer in the two areas
Neither the presence of Rooney, despite the goal, it changed substantially the whole skeleton to English. In fact, their presence somehow overlapped Wellbeck, his partner of United, an interesting player had a good performance in the first two games. Last night I left the main plane to its renowned companion. However, England was the same team plane of the two previous meetings, wireless in the game. Gerrard, without the pop touch of another, of course, is now a Beckham, a player limited to set pieces and touch the ocean, the long pass that always distinguished him. But the game does not gravitate around him, and Parker, Young and Milner are for the gross, as secondary players. Thus, the equipment is subjected to solitary Rooney or Gerrard stopped the ball. This happened in the goal. After a corner kick launched by the England captain, the ball bounced back toward him and his warped underground facility mocked the hands of Pyatov goal. A leak that Rooney made no mistake as a hermit on the goal line.
In Ukraine, as I happen to Poland, was not satisfied with the local fervor, you need other bonuses
After his nondescript first half, England was ahead, despite the local pawn game. Ukraine did not collapse, which accelerated with enthusiasm and began to flirt with the draw. Milevsky headed just over the goalkeeper Hart and immediately, in a move that went forward himself offside, Devic lifted the ball over the goal English. Terry put his toe under the crossbar and gave all the impression that the ball crossed the line. Here was this new post that have been invented principals of this invention, the auxiliary assumption that arbitration should paint something at least in this type of play. Hungarian assistant was not enough to look to certify the play, indicating that only an electronic mechanism would avoid these hassles.
Unable to govern the game against a team on the verge of dismissal, England still granted ever more. He did not know how close the match in the two areas and resisted by certain incapacity of his adversary, at this time and Shevchenko could be resurrected. End of illusions for Ukraine. England still has track.

England win - possibly; translated with Google Translate from La Gazzetta.

Hodgson's side won 1-0 thanks to a network of United's Star: Kiev on Sunday evening at quarter-final against the Blues. Goal-ghost denied Devic.

From Italy, you can do it. England beat Ukraine 1-0 and earning - in addition to first place in Group D - the challenge in the quarter with the Azzurri Prandelli. And these are the facts. Then there are the feelings. And they tell us that this version of the British Lions is truly one of the most affordable in recent times. Ukraine attaches much of the game, suffered a pretty random goals in the opening shot, then an error of the goal judge denies them the equal, it would be sacrosanct, and we'd give you a thrilling final.

PERPLEXITY '- Mission accomplished for Mr. Roy, but doubts about the real value of this England remain. Hodgson has set a team very short and compact, with two lines of four very close to protect Terry and Lescott, solid but vulnerable in the short. The estate is decent defensively but does not give absolute guarantees. And the 3-4 scoring had sharp-Ukraine are there to give us courage. Why Balotelli, Di Natale and Cassano are much better than Devic and Milevsky, with all due respect. Evident lack of options when attacking. The dead-ball from Gerrard, some one on one of Young and little else. Not even the return of Rooney, appeared tarnished beyond the goals, things have improved a lot in terms of maneuver.

ALL CLEAR - Blokhin, Shevchenko who service more than half (knee, will play without affecting only the last 20 ') gives a refresh to its Ukraine, with Voronin and Nazarenko on the bench for Milevsky and Garmash. The team needs to win to go to is Ukraine. And the good Mr. Hodgson says his men to cover the field well in defense and not risking anything. In fact, little happens in front of Joe Hart, despite the intermittent firing and Yarmolenko Konoplyanka, '89 two very interesting, on the wings. Indeed, Rooney is to spoil the 1-0 sending out a header well within his reach on a nice cross to catch them in the area of ​​Ashley Cole.

ALWAYS GERRARD - Same script in the opening shot, with Ukraine trying to increase speed. Blokhin's team receives a goal, however spaccagambe 3 '. Gerrard still a man more than 34 years and after a long season hiccup in Liverpool, put in the middle from the right. Ball fouled by Selin and missed by Welbeck at the near post, but Rooney breaks that marks one of the easiest goals of his career.

BUT WHAT YOU DO TO THEM? - Do not we say it, but Michael Owen on twitter. The forward comments on the topic of the goal judge, who denies the goal in Devic after Terry has split away the shot for a replacement for Sheva, already described by Hart. Replay data leave no doubt: the goal would be 1-1. Then perhaps he is right who says that there is little to add referees. The episode-free Ukraine, already close to par with Milevsky, the last desperate assault and allowing Hodgson to carry through the game without any worries. Now there is Italy. And after seeing the three England games in this group stage, it would be wrong not to believe.

Fracking drills

Over 30 years ago I was chained to a drilling rig, Joan of Arc style: a martyr for a cause. The 400mm masonry drill bit attached to said rig was being used to test the bedrock some distance below for its suitability for supporting a nuclear power station. The site in question was a safe distance away from any large population, the principle criteria for a Nuke station site. Today people are chaining themselves to drilling equipment testing for shale gas and the potential for fracking.

In those thirty years, a period which followed the implicit warning provided by OPEC in the early 70s about oil supply, we have yet to move on significantly from nuclear or fossil fuel. Instead more desperate ways to scrape off the remaining meagre morsels from the carcass are being employed instead of the more appropriate increased investment in many renewable energy sources of wind, hydro, thermal, tidal and sun. Is it possibly the case that oil companies want to wring out as much profit from crude while they sit on the technology that we could be using now instead of tearing up the country? But there are those who say wind farms will blight the country – they are as bad as the people trying to rip up the earth. They no doubt drive and fly and use unnecessary electrical appliances as everyone else does. The reason we have so many electrical goods is because electricity producers needed demand for their product (many house hold electrical products where manufactured by the power generators).

The last thirty years show how poor we are at long termism unless we can find a short cut – nuclear power. One thing is for sure, as things stand now, when crude oil does get scarce the world will get bigger again as flying will no longer be viable.

Olympic ticket fraud

Olympic ticket fraud

According to the Daily Telegraph, Olympic officials in over fifty countries other than the UK (because we just don’t do this kind of thing) have been selling tickets at 10 times their face value on the black market – which is obviously very bad indeed. However, way back when, the IOC was paid a great deal of money by an organisation so that it could have a monopoly on London 2012 ticket payments and that was not fraud or bribery, of course, as the IOC doesn’t do that kind of thing.

WPP faces backlash over Sir Martin Sorrell pay deal

Shareholders of whopping advertising company WPP have objected to the £6.8 million pay deal being suggested for its founder, Sir Martin Sorrell . 

Shareholders have been advised that the offer of £3256.70 per hour being put forward in the company’s pay report is excessive. The deal represents a 60% increase on his pay last year while average CEO pay has risen by 11% - the average being £3.65mill (£1748.08 per hour).

Shareholders are a canny bunch. They recently sold off Cadbury’s to Kraft, Abbey National to Santander, Pilkington Glass to NSG. I imagine the only reason they are objecting to the apparent excess of Sorrell’s pay recommendation is that there will be less profit to be shared out amongst them as dividends. Shareholder think with their wallets,

France Angleterre

From French broadsheet  Le Monde via Google translate

'The France and England were separated on a tie (1-1), in the first game in Group D of Euro 2012 , in a meeting where the tension palpable, has curbed the enthusiasm of both teams. And with the painful feeling that the Blues, with a little more daring, could have the win .

Sweltering heat of around 35 ° C, mosquitoes galore, and the face of Russian fans in numbers, but lost in the Donbass Arena in Donetsk, France and England will be able to meet this point of the tie. The opening of Lescott had yet left fearing the worst but the Blues were able to react quickly through Nasri.

No surprises in the starting lineup put together by Lawrence White , the same as the last preparation match against the Estonia . The Blues began in 4-3-3 with Alou Diarra positioned in front of the defense, Debuchy in right side, and Florent Malouda on the left. English side, coach Roy Hodgson created a surprise in titularisant Oxlade-Chamberlain, 18, ​​to occupy the left side of midfield.

LACK OF IMAGINATION IN THE GAME

Match starts at a rate of Senator. As expected, players Laurent Blanc took control of the match against the English sitters, but they are desperately short of imagination and speed. Overflow Ribery (8 ^th ), shooting Nasri (10 ^th ), the Blues are without legs in show really dangerous. The match fell into a gentle slumber before the English do not sound the revolt.

Light on a pass from Gerrard, Milner Lloris gets rid of but can not straighten the path of the ball (15 ^th ). The warning, no charge is serious. And what would happenhappened. On a free kick perfectly kicked by the English captain, Lescott takes advantage of a loose marking Alou Diarra and a reluctance guilty of Hugo Lloris toopen the score of the head (30 ^th ). The Blues are sounded. Laurent Blanc calls to order the great middle of the OM, asking more impact.

NASRI timely

Laurent Blanc's men had the brilliant idea of all giving to back to score before halftime. This will be done after a huge opportunity to Diarra, clearly remotivé, head, following a beautiful collective action. Samir Nasri inherits the ball on the edge of the surface and rolled his shot, closed side to beat Joe Hart (39 ^th) . Both teams return to the locker room on a parity logic score and the songs of the French fans, parked in a corner of the lot while the English have almost a forum....'

Tense, nervous?

Butterflies in your stomach, can’t concentrate? Jittery? Off to the toilet every five minutes?

Yes, England are playing again.

The pressure is off England because we have no expectations about their chances and so we all expect England to do well because we don’t expect them to do well.  So the pressure is actually double the normal pot boiling, heart attack inducing stress. The papers even have a supplement just for this game with all manner of trivial statistics: number of time England and France have met in Euros...how many French players speak English...how many times England has invaded France.

For a brief moment Roy Higson, on his annual holidays from his Cheam dry cleaning business, had thought, hopefully, that  everyone had forgotten we were in the Euros having been distracted by the Jubilee and the daft torch but, no, we are all back, ready and waiting, for the same old same old. Game on.

Spain bailout boosts Euro and stocks.

There is still 25% unemployment in Spain but stocks markets have increased in value this morning. What a relief for all those investors and their petty fortunes and for the traders and FX sites and brokers and so on. Where does the money come from to raise stock prices and where does it go when then indices go down? Whoever is selling then buying and then selling are responsible for the indices going up and down. It is their view of the economy which causes the fluctuations in the indices but theirs is a narrow view - about the potential to make money. Yet the world sees these stock markets as the gauge of economic health and is relieved or shit scared accordingly. The predicament of the big first world economies was a result of investment booms and liquidity issues of lenders; the continuing problems are still caused by investors. None of the governments are going to take on their respective financial sectors but it is they who are responsible.  Most governments instead have unwisely reduced government spending. But, as public spending is not the problem or its cause, the uncertainly and credit issues will continue and unemployment will increase. All debts and interest payments have to be frozen and that credit bubble to isolated for there to be a way out of this but that will not happen as that debt and interest is a source of investment income for the financial sectors.

England can go through to Quarter-finals!

It’s a long a shot but, if things stay the way they are right now, we’ll get through to the knockout stages – having qualified on alphabetical order...

Spanish bonds

The Spanish government has been raising dosh today on the money markets by offering 6% on 10 year bonds. This is the action of a government who for the sake of the European economy cannot say that it needs a bailout what with the mini run on its banks only a week or so ago. So instead of the European central banks stumping up some cash at a reasonable rate – says 0.5 % - which our the BOE has set for the UK, the Spanish go to the parasites of the money markets who see the current financial turmoil as a time to make money. Perhaps it is the high street banks that are going to be buying then selling these bonds and their fund managers will be getting whopping bonuses at Christmas – assuming chrimbo will still exist. It is like a vulture trying to eat its own feet.

Prospects for China’s service industry

We have seen China excel and dominate in world manufacturing. Everything you buy is made in China just as everything you bought 150 years ago was made in Birmingham. But their service sector is not so robust. This is because China has yet to go through post industrialisation and experience, as we did, the moment when no-one wants to buy your wrought iron toothbrushes any longer. What happens when a country’s manufacturing sector shrinks to a couple of sheds in Nuneaton making cups and plaques for Angling clubs and pub darts leagues? Our heavy industries that once employed millions were replaced by the service industry. Instead of churning our cars, lawn mowers, ball bearings, ships, cutlery, nails and so on, we churn out sandwiches and coffees or sit at desks making cold calls to sell insurance or questionable banking products.