All posts by Keith

I’m a controversialist and catalyst, quietly enabling others to develop by providing different ideas and views of the world. Born in London in the early 1950s and initially trained as a research chemist I retired as a senior project manager after 35 years in the IT industry. Retirement is about community give-back and finding some equilibrium. Founder and Honorary Secretary of the Anthony Powell Society. Chairman of my GP's patient group.
current affairs, ramblings

Banking on the Mattress

So a couple of weeks ago the Bank of England reduced interest rates lower than ever to 0.25%.
They hope this is going to stimulate the economy. It isn’t. At least, as Mary Dejevsky pointed out in the Guardian a couple of weeks ago ever-lower interest rates have failed; so why should they work now?
Anyone with a mortgage has never had it so good. They are paying peanuts in interest. Meanwhile those of us who paid off our mortgagees years ago and are now the much vilified savers are being shafted — savings interest is struggling to match inflation.
The banks seem to have forgotten that people like me, the savers, are an essential part of their business. Without our money coming in, they don’t have money to lend. They need us, just as they need the pension funds etc.
But all the banks have ever done is shaft my generation. When we started our mortgage in 1981 we were paying 14.5% interest on it; within six months that was 17.5%. And we were being encouraged to save for our retirement — which we did as much as we could. That was barely sustainable; and totally unsustainable compared with today’s rates. We were being priced out. No wonder the bubble burst and people ended up in negative equity and the banking sector with a merry-go-round of toxic debt.
Having saved, against the odds, we are now being shafted for having done so by not getting a decent return on our investments. We’d almost be as well off with our investments in the Bank of Mattress. And we’re supposed to feel happy about this; go out and spend our money; make the economy grow and recover.
Sorry but why the f*** should I? That money you want me to spend has to support me for maybe another 20 (or more) years. If you aren’t going to give me a decent return on investing it, then I’m going to hold onto it for dear life and milk as much as I can from all of it.
On the same day as Mary Dejevsky’s piece, Simon Jenkins wrote (also in the Guardian):

Want to avoid recession? Then shower UK households with cash.
Just give people the money. Give them cash, dole it out, increase benefits, slash VAT, hand it to those most likely to spend it: the poor. Put £1,000 into every debit account. Whatever you do, don’t give it to banks. They will just hoard it or use it to boost house prices.
Britain is suffering from a classic liquidity trap. There is insufficient demand. Yet all the Bank of England [has done is] wring its hands, blame Brexit and go on digging the same old holes.
They are labelled lower interest rates, quantitative easing and more cash for banks. Those policies have been in place for some seven years. They have failed … Not one commentator … thought cutting interest rates to 0.25% would make any difference to the threat of recession.

And again …

In the present climate, there is not the slightest risk of inflation — the traditional hazard of monetary expansion: £1,000 “printed” and moved from the Bank into every household account would still cost less (at £30bn) than Hinkley Point or HS2 … There could be vouchers, scrappage schemes, Christmas bonuses and, horror of horrors, cash for the undeserving poor. Why not try it? All else has failed.

Yes, and out of the change from cancelling HS2 you could probably give every university student a decent maintenance grant and/or scrap student fees!
It’s a novel idea. Raising saving rates would be another. For indeed all else has failed.
It’s time for a new and different approach.
It might even be a vote-catcher!

quotes

Monthly Quotes

Here’s another selection of interesting, thought-provoking and amusing quotes encountered in the last few weeks.
Nothing is stronger or better than this, that a man and his wife live together, sharing one heart and one mind, a great grief to their enemies and a joy to their friends; but best of all they know it themselves.
[Homer, The Odyssey]
When a German dives into a sentence, you won’t see him again until he emerges at the other end with the verb between his teeth.
[Mark Twain]
If you have a garden and a library you have everything you need.
[Cicero]
To succeed in life, you need two things: ignorance and confidence.
[Mark Twain]
The strategy relied on forlorn hopes that the “confidence fairy” would lift Greece out of this policy-induced nose-dive.
[Ambrose Evans-Pritchard in a Daily Telegraph article, 29 July 2016, on how the IMF has screwed up Greece; http://www.telegraph.co.uk/business/2016/07/28/imf-admits-disastrous-love-affair-with-euro-apologises-for-the-i/]
All you really need to know for the moment is that the universe is a lot more complicated than you might think, even if you start from a position of thinking it’s pretty damn complicated in the first place.
[Douglas Adams]
Gossip is charming! History is merely gossip. But scandal is gossip made tedious by morality.
[Oscar Wilde; Lady Windermere’s Fan]
Nature does not hurry, yet everything is accomplished.
[Lao Tzu, Tao Te Ching]
Usually when people predict an end to religion, what they’re hoping will take its place is a world of pure scientific rationality based on a strictly materialistic view of the universe. I think Richard Dawkins and his followers would like to see that.
The problem with that is, pure materialism has failed us just as badly as pure spirituality. The pure spirituality of the Middle Ages provided a lot of uplifting fantasies, but left most people living in filth and squalor. The pure materialism that took hold in the 19th century, and continues to dominate us today, provided flush toilets, the Internet and a generally higher standard of living. But it left people feeling empty inside while runaway technology and the waste it produces threatens us with extinction.
[Brad Warner at http://hardcorezen.info/the-age-of-reality/4716]
As soon as dogs realise we have bones hidden under our skin all hell is going to break loose.
[unknown]
If we want things to stay as they are, things will have to change.
[Giuseppe Tomasi di Lampedusa, The Leopard]

sexuality, words

Words: Yoni & Lingam

Yoni

  1. In Hinduism, a stylized representation of a vulva worshiped as a symbol of a goddess or Shakti.
  2. The female genitalia, regarded as a divine symbol of sexual pleasure.
  3. The Tantric symbol of the feminine.

According to the OED the word first appears in English in 1799 and is derived from the Sanskrit yonih, womb, abode, source.
Lingam

  1. In Hinduism, a stylized phallus worshiped as a symbol of the god Shiva.
  2. The penis.
  3. (In Sanskrit grammar) the masculine gender.

Again, the word is from the Sanskrit liṅga, liṅgam, mark, penis. It is first recorded in English in 1719.

topographical, words

Word: Zanzibar

Zanzibar
Zanzibar is now a semi-autonomous region of the East African country of Tanzania. Situated off the coast of the mainland just north of Dar es Salaam, it is an archipelago consisting of two large islands, Unguja (the main island, referred to informally as Zanzibar) and Pemba, and many smaller ones. Long ruled by Arabs (mostly from Oman) it was a Portuguese colony and latterly a British Protectorate, before merging with the then country of Tanganyika (now Tanzania) in the 1960s. Zanzibar’s main industries are spices (especially cloves, nutmeg, cinnamon and black pepper), raffia and tourism.


The word Zanzibar comes from Arabic Zanjibār (زنجبار), which is in turn from Persian Zang-bār (زنگبار), a compound of Zang (زنگ, “Black”) + bār (بار, “coast”).
As so often there is a whole host more information on Wikipedia.

environment, natural history, photography

Nationally Scarce

Now this is something I never expected o see here in West London! Noreen found it on the (inside of) the study windows late last evening. It’s a (female) Jersey Tiger Moth.
I’ve only ever seen one once before, in Lyme Regis some 10 or more years ago. They are apparently “nationally scarce”. Once restricted to, yes, Jersey, they are most common along the coastal areas of the South West, although they are obviously spreading and there are now reports from the London area. Instantly identifiable as a Tiger Moth, the size (that’s a 5mm grid), pattern and the distinctively striped head are diagnostic. Oh and they like Buddleia, and we have a bush not far from our back door.
Sorry not brilliant pictures as this was lively, so contained in a plastic bug-catcher, being photographed with my point-n-shoot late at night with flash. I have removed the slight colour-cast from the images, I hope without destroying the moth’s colours.

Jersey Tiger Jersey Tiger
Click the images for larger views on Flickr

[More info on the moths here and here.]
Oak Bush CricketAlso found this morning on our bathroom ceiling was this gorgeous little Oak Bush Cricket. The body is about 17 mm long and note those spectacular antennae which are three or four times the length of the body.
These are not scarce; we often get them in the house at this time of year — one of the benefits of having trees in the garden (including an oak) and being close to woodland. They’re very forgiving creatures and will happily sit still to be photographed, unlike captured moths.