In 'After neoliberalism: analysing the present', Stuart Hall, Doreen Massey & Michael Rustin, the founding editors of Soundings, set out their framing analysis for their 2013 online 'Kilburn Manifesto'.
Stuart Hall diagnosed the conjuncture: "The breakdown of old forms of social solidarity is accompanied by the dramatic growth of inequality & a widening gap between those who run the system or are well paid as its agents, & the working poor, unemployed, under-employed or unwell."
In 2013, The Sunday Times Rich List was topped by two Russian oligarchs and an Indian billionaire.
Stuart Hall said "They live a life totally divorced from and almost unimaginable by ordinary people, fuelled by an apparently unstoppable appetite for profit."
Since then, well...
"Neoliberalism's victory has depended on the boldness and ambition of global capital, on its confidence that it can now govern not just the economy but the whole of social life."
"On the back of a revamped liberal political & economic theory, its champions have constructed a vision & a new common sense that permeate society. Market forces begin to model institutional life & press deeply into our private lives, as well as dominating political discourse."
"They have shaped a popular culture that extols celebrity & success & promotes values of private gain & possessive individualism. They have thoroughly undermined the redistributive egalitarian consensus that underpinned the welfare state, with painful consequences for...
...socially vulnerable groups such as women, old people, the young & ethnic minorities.
Corporate exploitation of cheap labour, natural resources & land has worsened the crisis in the developing world."
"Environmental degradation, poverty, disease pandemics, poor education, ethnic divisions and civil wars are paraded as inevitable postcolonial failures and provoke the old powers to intervene to safeguard the conditions for capitalist accumulation."
"The neoliberal victory has reasserted the powers & position of the dominant classes. But this victory was not inevitable. No social settlement is permanent, & this one was fought for, from the coup in Chile & the defeat of the miners in Britain to current attacks on...
...workers' rights & the benefits system. There is more than one way out of the current catastrophe. There is always an alternative. Today, the founding editors of Soundings, the new left journal first published in 1995, launch a manifesto attempting to outline ways forward."
"New Labour's collusion with the neoliberal project – through an agenda of privatisation, outsourcing & the marketisation of the public sector – has left the party unable to draw a clear line with the coalition."
"Having driven forward many of Thatcherism's gains under Tony Blair, New Labour is constrained by timid leadership, by a lack of clear vision & new ideas."
"Outside party politics new social movements, including environmental, anti-cuts and feminist groups, have not come together sufficiently with the old, defensive organisations of the working class to produce the coalition that might make them an effective political force."
"Turmoil in the Middle East shows us what happens when democratic demands are not met, while in Europe resistance to austerity is twinned with the revival of fascism. This is no time for simple retreat. What is required is a renewed sense of being on the side of the future..."
"We must admit that the old forms of the welfare state proved insufficient. But we must stubbornly defend the principles on which it was founded: redistribution, egalitarianism, collective provision, democratic accountability & participation, the right to education & healthcare."
"All of us who oppose the current direction, whether from inside or outside party politics or other organisations, must invent. We must set about disrupting the current common sense, challenging the assumptions that organise our 21st-century political discourse."
"We hope our manifesto will open a dialogue with a new generation shaped by different political experiences. This is a moment for challenging, not adapting to, neoliberalism's new reality, & for making a leap."
"What is this sovereign remedy? It is to re-create the European Family, or as much of it as we can, & provide it with a structure under which it can dwell in peace, in safety & in freedom. We must build a kind of United States of Europe."
"The process is simple. All that's needed is the resolve of hundreds of millions of men & women to do right instead of wrong... If we are to form the United States of Europe or whatever name or form it may take, we must begin now."
"Our constant aim must be to build & fortify the strength of the United Nations. Under & within that world concept, we must re-create the European family in a regional structure called, it may be, the United States of Europe. The first step is to form a Council of Europe."
Read @EmmaLBriant's response to Govt Consultation on proposed legislation in response to "hostile threats" that will reform the Official Secrets Acts which includes espionage offences, unauthorised disclosure of official material & its onward disclosure.
The proposed changes seek the creation of a Foreign Influence Registration Scheme — a tool similar to the US Foreign Agents Registration Act (FARA), to help address opaque foreign influence & lobbying in the UK.
"The measures to expand the Official Secrets Act are far more troubling & as others have suggested would end both whistleblowing & journalism as we know it, along with any ability for the public to make informed judgements about the conduct of this or any future Govt in wartime."
In Parliament on March 13th, 2018, after the poisoning of Sergei Skripal, Corbyn drew attention to the Govt “resisting Labour’s amendments to the Sanctions & Anti-Money Laundering Bill that could introduce the so-called Magnitsky powers”.
The @Conservatives responded with cries of “shame” & “disgrace”, which were loudest when Corbyn attacked them for having so many extremely wealthy Russian donors giving them huge amounts of cash.
But ignore the backbenchers, & listen instead to Putin's actual opponents.
What do those brave men & women around the world risking their lives to fight Putin have to say? A cursory look will tell you that what they have to say sounds rather more like Jeremy Corbyn than anything then PM Theresa May or any other Tory at the time had to say on the matter.
In 2018 the Tory govt admitted they spent £200million fighting to stop people getting sickness & disability benefits: at least 4,600 disabled people were wrongly stripped of their benefits & it was found guilty by the UN of “grave & systematic violations” against disabled people.
As long ago as 2016, it was widely reported that a UN inquiry concluded that #austerity policies introduced into welfare and social care by the UK Tory government amount to “systematic violations” of the rights of people with disabilities.
Surveys show that Americans are paying attention to what’s going on with political tensions in Ukraine — more than they would have about past foreign affairs issues.
The current crisis dovetails with the issue of inflation, but it is also a reminder that we are now in a post-American world, where the US no longer calls all the shots and there are new regional powers including China that are shaping global economics and markets in new ways.
It’s important to start to grapple with all this honestly. Take supply-chain disruptions: many experts predict they’ll abate by the end of the year, and that may be true in the short term. But in reality, supply chains are only at the beginning of a long-term, fundamental change.
The 'Fed put': if stock markets fall by 20-25%, central banks will ride to the rescue by cutting interest rates & increasing money supply via QE. The logic is that the world has so much debt that failing to act would incinerate the financial system. But... theconversation.com/stock-markets-…
A drop of more than about 25% could set off a chain reaction of bad debts that could destabilise the biggest banks and cause a crisis that would make 2008 look mild.
As the global economy shut down in the face of the COVID pandemic, the Fed then swung into full rescue mode.
The Fed announced the most aggressive QE programme to date to support the economy, and the balance sheet ballooned to nearly US$9 trillion by late 2021.
The result of all this easing has been a huge surge in asset prices – not only stocks and bonds but also property.