What made Murdoch Mortal?

The thought at the back of my mind throughout all of the media storm about News International is: what has made Rupert Murdoch so mortal?

For decades he was untouchable, the kingmaker, his support was essential for political success. Politicians crossed him at their peril, lest some tidbit of scandal about them was dragged out into the public domain.

Just how have things turned round so quickly and so fully? What has given our politicians the confidence to go head-to-head with Murdoch and in effect win, given that News International are backing out of the bid for control of BSkyB? What do they have on Murdoch that has wounded him so mortally?

There is more to this affair than meets the eye.

The really serious thing that has been highlighted this week is the unholy alliance between politicians, the press and the justice system. Our elected representatives have for a long time been too cosy with the people that control the media and our justice system in the form of the Police and the CPS are also wrapped up in the cosy cabal.

The prime example is the initial investigation into phone hacking which went nowhere, thanks to limited terms of reference and lack of political and media support. It was destined and probably designed to fail. Months later we now know that the problem was a whole lot broader than the hamstrung inquiry could investigate.

Its quite clear the Politicians, Paparazzi and Police swim in their own cosy cesspool.

Cleaning it up will be a major task, one that the current political system will be unwilling to undertake. We need new brooms to sweep away the shit.

EU Debt and Bail-Outs: A Legal Avenue to Persue?

Our Parliament has just agreed giving an additional 9 Billion pounds to the IMF which more than likely will be channelled into extending the Eurozone crisis. Both EU Referendum and Subrosa have commented on this.

Right now, everyone knows that the countries in the worst positions will default. Certainly Greece will: its inevitable, because the austerity measures required by the IMF bail-outs on their own won't repay the money lent to them. So, there's going to be a default and everyone knows it.

So why then, would our Parliament approve giving away the money with little expectation of it being repaid?
If we are going to be repaid, how would the IMF do it? If Greece can't pay it, would the IMF have to increase the cost of loans to other countries like African or Asian ones ( the poorest in the world) to make up the shortfall? Does anyone think thats fair?

Finally my point: If there's no hope of the money being repaid, is there any legal process that can be invoked such as a judicial revue to stop the money being paid?

If a judicial revue is out of the question, is there any legal mechanism whereby those MPs that voted for the loan can be made liable for their portion of it?

If there is no way we can make these people immediately liable for their actions, then we have no democracy. It makes me feel sick that they can carry on borrowing money that my children and grandchildren will have to repay and give it away just like that, without any sanctions.

Lots Going On.

First off, its seems that Italy is now firmly in the sights of the financial speculators, with rumours that Italian Banks are seriously exposed to risk and will fail a new stress test when it is implemented. This is more extremely bad news for the UK, as we've made the financial sector the powerhouse of our economy.

As I blogged 3 years ago or more, whilst we continue to have financial uncertainty, the economy will continue to be in the toilet. You cannot have serious economic growth without a serious amount of confidence in the financial sector. Whilst banks remain over exposed to toxic debt and the financials in the City of London remain exposed directly and through derivatives, growth will continue to flatline.

I said all those years ago that it will take more than a decade to recover from the crash of 2007/8 and here we are almost half a decade later, still in the doldrums. We are to all intents and purposes in a great depression and its about time we started acting like we were. We need to start making solid financial foundations by changing the economic mix back from high-risk virtual financials and services over to real-life, low-risk buyable economic generators like  manufacturing.

Unfortunately instead. our government insists on giving away money it doesn't have to finance "bail-outs" and "rescue packages"; all of which are just throwing money away. Our finance sector is heavily exposed thanks to credit default swaps and other forms of loan insurance.

We really are in a pickle, especially as the government continues to put its head in the sand and ignore the root of the problem and the real size of it.

Before the election I said the government had to come clean about the size of the crisis in order to get the country to follow it. Unfortunately they continue to fob the public off with illusions, half-truths and lies. Instead we get diversion tactics and smokescreens such as the phone hacking affair.

Yes, the "phone hacking" affair, which has been blown out of proportion by the government, eager to kill a number of birds with one stone. First is the aforementioned diversion, second is a chance to scare and muzzle a serious political threat, third is the chance to stop Rupert Murdoch from gaining too much influence via the media and finally it provides an opportunity to legislate the press.

If this was a low-ranking issue, all of the evidence would have been released, but there's the fingerprint of media management all over this affair. The constant drip-drip of anti Murdoch evidence, designed to keep the affair in the media spotlight is a sure sign of news manipulation/management.

The outcome of it all will be interesting to observe, but I fear the worst.