The Conscript

He nearly always switched channels

When it was time for the news,

Decidedly unaffected

By the war they must not lose.

After all there’s beer and fashion

For a lad not yet a man,

Girls, and video games to play,

A future without a plan,

A course for him to be chosen;

It’s enough to be alive,

Not thinking of tomorrow; then

The call up papers arrive.

A few weeks initial training,

Swapping fashion for fatigues,

While men in braid and business suits

Pursue self-serving intrigues.

The front line must push on forwards,

So the lad is quickly led

To the heroic offensive

And yet still a lad, is dead.

D. A.

  The Financial Times reported Sunday that the commodity trading industry “made record gross profits of more than $115 billion from trading activities last year.”

That total is up 60% compared to 2021, with the independent trading houses Trafigura, Vitol, and Glencore among the biggest beneficiaries, the Financial Times noted.

As much of the world reeled from high energy and food prices that left millions struggling to heat their homes and feed their families, commodity trading firms that benefit from extreme market volatility brought in record-breaking profits in 2022, capitalizing on chaos spurred by Russia’s invasion of Ukraine.

“Financial players such as hedge funds also enjoyed big gains, earning an estimated $12 billion from trading activities in 2022 compared with less than $3 billion the year before,” the newspaper added.

Ernst Frankl, a partner at Oliver Wyman and one of the report’s authors, told the Financial Times that 2022 “was a bit of a perfect storm across all the commodities, from a trading opportunity perspective.”

“Volatility is the lifeblood of what traders need in order to trade,” Frankl said.

Experts have argued that commodity speculators are not only benefiting from extreme market volatility—they’re to some degree causing major price swings that have real-world consequences.

“We’re in a market where speculators are driving prices up,” Michael Greenberger, former head of the Division of Trading and Markets at the U.S. Commodity Futures Trading Commission, told Mongabay last year.

World Food Program (WFP) projects that more than 345 million people will be “food insecure” this year, more than double the 2020 number.

Amid Global Hunger Crisis, Commodity Speculators Reap Record-Shattering Profits (commondreams.org)

 Inflation in Switzerland unexpectedly accelerated in February largely due to soaring airfares, rent and energy costs, figures from the Federal Statistical Office showed on Monday.

Consumer prices surged 3.4% last month year-on-year and were higher than the median estimate by Bloomberg, which predicted a slower rate of 3.1%. The February jump reflected rising prices for air transport, package holidays, rents and gasoline, indicating that the country’s central bank will have to tighten its monetary policy, the media outlet said.

Core inflation in Switzerland excluding energy and food prices also accelerated for a third successive month and reached 2.4%, the data shows.

While Switzerland has managed to maintain the lowest pace of inflation among major European economies, persistent price growth will likely force the central bank to hike rates as underlying inflationary dynamics are “stronger than what the SNB is prepared to tolerate,” Swiss National Bank President Thomas Jordan said.

Swiss inflation saw a 3.3% rise year-on-year in January, driven by surging gas and electricity prices. The rate also exceeded economists’ forecasts of 2.9% and was the highest since August 2022. Housing and energy prices surged 5.1%, while public transport costs climbed 4.7% year-on-year. Gas prices alone rocketed by 40.3% in January in annual terms, while electricity soared by 25.5%.

The central bank has also expressed concern that companies are now more likely to pass on higher prices to customers. Utility providers adjusted prices at the beginning of the year, passing on increased costs to Swiss households. Swiss state regulator ELCOM previously predicted that electricity would become an average of 27% more expensive for consumers.

RT 7\3\23

Dave C.

  Suella Braverman declares “…there are 100 million people around the world who could qualify for protection under our current laws. And let’s be clear: they are coming here…”

Enver Solomon, the chief executive of the Refugee Council, said it was untrue to claim 100 million people could qualify for asylum in the UK. “To claim that all 100 million people who are facing forced displacement are, or even want to, come to the UK is simply untrue. No refugee wants to leave their home and the reality is that 75% of the world’s refugees are hosted by countries neighbouring the one people have left.”

UK was 16th out of 28 of Euro countries destination of choice for asylum seekers per capita in 2021: Germany took 190,000 France took 120,000 Spain took 62,000 Italy took 53,000 UK took 50,000

 Nationwide strikes and rallies against pension reform have caused major traffic disruptions and paralysed oil refineries and universities in France, after trade unions called for the country to be brought “to a halt.”

As the latest wave of protests against the government’s plan to raise the retirement age to 64 from 62 entered their sixth day, trade unions announced that “more than two million people” would take part in rallies on Tuesday. For comparison, on January 31, the biggest day of demonstrations so far, some 1.27 million took part, according to official figures.

Marches started in the early morning across the country, with crowds blocking major higher education establishments including Rennes II University and Lyon II University, according to footage on social media and local media reports.

Protesters erected barricades in front of a bus depot in La Roche-sur-Yon, a city in western France. Students also blocked a bus depot at Saint-Denis Pleyel, near Paris, before being pushed back by security forces.

At least 100 people blocked the RN 24 highway connecting Rennes and Lorient in western France, according to student organization Le Poing Leve (The Raised Fist). The group claimed the police used tear gas to disperse the gatherings.

The trade union organization CGT-Chimie said fuel shipments had been blocked at the exits of “all refineries.” The management of oil major TotalEnergies confirmed to AFP that it had been affected, but said there was “no shortage of fuel” at its stations.

Trade unions have also warned of strikes on public transport. On Monday SNCF, France’s national state-owned railway operator, and RATP, the transport operator in Paris, confirmed that the movement of trains in France would be “very severely disrupted,” while metro operations would also be disrupted.

Meanwhile, the French General Directorate of Civil Aviation has requested that airlines reduce scheduled flights by 20% and 30% at Charles de Gaulle and Orly airports in Paris, respectively.

Unrest against pension reform has been escalating for several weeks now. While French President Emmanuel Macron has described the initiative as “essential” due to projected deficits in the pension system over the next 25 years, it has proved deeply unpopular among the public, with almost 60% opposing the reform, according to an Elabe poll.

RT 7\3\23

Dave C.

Global progress on women’s rights is “vanishing before our eyes”, the secretary general of the UN, António Guterres, has warned.

The goal of gender equality will take another three centuries to achieve.

“Women’s rights are being abused, threatened and violated around the world,” he added, as he ticked off a litany of crises: maternal mortality, girls ousted from school, caregivers denied work and children forced into early marriage.

He stressed that “in many places, women’s sexual and reproductive rights are being rolled back [and] in some countries girls going to school risk kidnapping and assault”.

“Centuries of patriarchy, discrimination and harmful stereotypes have created a huge gender gap in science and technology,” Guterres said, citing as an example how women represent only 3% of Nobel prize winners in those sectors.

Gender equality still ‘300 years away’, says UN secretary general | Women’s rights and gender equality | The Guardian

The watchdog Accountable.US revealed that the biggest oil companies operating in the United States raked in a collective $290 billion in profits last year while they “consistently prioritized shareholder returns over alleviating the pressure of high energy prices.”

According to the report—which analyzed 26 oil companies doing business in the U.S.—the $290 billion in collective 2022 Big Oil profits marked a 126% increase from the previous year. Fossil Fuel giants including BP, Shell, and Chevron more than doubled their net income in 2022, while smaller players like Murphy Oil And Southwestern Energy saw respective increases of 1,410% and 7,496%.

“With $290 billion in profits, Big Oil made enough money in 2022 to end world hunger, pay off U.S. medical debt…but instead used their record profits to shower $163 billion on shareholders with plans to give even more in 2023,” Accountable.US said.

 The industry spent over $163 billion on stock buybacks and dividends. Even as Big Oil executives complain about supposedly lower-than-desired margins in 2023, oil and gas companies have already publicly announced plans to buy at least $160 billion in stock backs starting this year to enrich their wealthy shareholders further.

“Despite the industry’s bald-faced lies, Big Oil’s never-ending greed was the central force driving the industry’s obscene price gouging,” said Accountable.US director of energy and environment Jordan Schreiber.

Analysis Shows Major US Oil Companies Raked in $290 Billion in Profits Last Year (commondreams.org)

 A growing number of British pubs are closing down due to rising energy bills and inflation, data published by accountancy firm UHY Hacker Young has shown.

According to the report, 512 pub and bar companies collapsed in the UK last year amid the cost-of-living crisis, up from 280 in 2021. The firm says the number of such insolvencies jumped as much as 83% in 2022.

“The cost-of-living crisis, including interest rate rises, has impacted consumer habits, making them less likely to spend on ‘non-essentials’, including a drink or a meal at a pub. Rail strikes have also prevented many customers from travelling to pubs in town or city centres,” the report’s authors state.

Inflation is driving up costs that pubs themselves have to pay for beer and food supplies, the findings show. As many of the establishments have little to no savings or capacity to borrow following the Covid-19 pandemic lockdowns, more of them are being forced to close their doors.

“This is a particularly difficult period for pub and bar owners, who find they need to spend more and more while earning less and less. Following an extended period of lost revenues during the pandemic, the cost-of-living crisis has been the final nail in the coffin for many,” said Peter Kubik, one of the analysts behind the report.

The news comes after the British government announced plans to slash the aid it provides to businesses and public sector organizations for the payment of energy bills.

The current Energy Bill Relief Scheme, which was introduced in September last year, has reportedly provided £18 billion ($22 billion) to businesses to help with soaring energy costs. However, the scheme comes to an end in March, and a new support package will reportedly see funding reduced to £5.5 billion ($6.7 billion).

“The spiralling cost of energy has been our members’ number one concern for close to a year now and remains so… As this data demonstrates, there is no doubt that energy costs are causing businesses to fail – people simply cannot afford to make ends meet and are left with no choice but to shut up shop, meaning a community loses its pub or brewery, and the jobs and livelihoods that go with it, for good,” Emma McClarkin, CEO of the British Beer and Pub Association, told news outlet City A.M.

Britain’s hospitality sector could lose thousands of jobs amid soaring energy costs, the British Beer and Pub Association (BBPA) has warned, as it called on the government to extend a lifeline for the industry.

According to a BBPA report on Wednesday, citing data from Oxford Economics, a further 2,000 pubs are at risk of closure, threatening 25,000 jobs. The research suggested that on-trade beer sales will decline by 9% in 2023-2024, which equates to 1 million fewer barrels of beer sold, or 288 million pints.

“The BBPA is calling on the government to use the Spring Budget to show it understands just how much pubs and breweries mean to their communities, and the pressures the sector is facing, and deliver a plan for sustainable growth with fair, modernized tax rates and a focus on skills and training needed to ensure pubs and breweries can thrive,” the association stated.

It also called on the chancellor to freeze duty rates, implement a significant increase in the discount for draft beer sold in pubs, and introduce the previously announced reduced rate for lower-strength beers from August 1.

In September 2022, the British government introduced the Energy Bill Relief Scheme, which has reportedly provided £18 billion ($22 billion) to businesses to help with soaring energy costs. However, the plan is due to come to an end in March, and a new support package will reportedly see funding reduced to £5.5 billion ($6.5 billion).

“After almost three years of extremely tough trading conditions due to lockdowns, an energy crisis, supply chain disruptions and more, now is a make-or-break moment to save our locals and breweries from failure now in the years to come, we need the government to act now or risk losing something very special forever,” said the BBPA’s chief executive, Emma McClarkin.

RT Feb\Mar 23

Dave C.

 The number of children afflicted by food poverty in the UK nearly doubled in January from a year ago, The Guardian has reported, citing a survey by the think tank Food Foundation.

According to the findings, 22% of households polled reported either skipping meals or not eating for a whole day last month. In January 2022, the figure stood at only 12%. The overall number of British children suffering from a lack of food has now reached almost 4 million, data showed.

The alarming trend comes as the country suffers from record-high food inflation, spurred by soaring energy costs. The indicator now stands at 17.1%, according to the latest figures released by market researcher Kantar earlier this week, with milk, eggs, and margarine showing the fastest price growth. The cost-of-living crisis is further exacerbated by the government’s recent decision to cut back support for household energy bills.

The public is now urging the British authorities to expand free school meals across the country. A separate survey by the Food Foundation found that 80% of respondents were in favor of making all British children eligible for free meals in school. Currently, only households with an annual income under £7,400 qualify for free meals, leaving some 800,000 children living in poverty but ineligible for the benefit, according to Child Poverty Action Group.

“By extending free school meals to more children in England in the next budget, the government could deliver a policy change that is popular with voters, targeted and timely, and truly delivers on levelling up,” Anna Taylor, the CEO of Food Foundation, said, commenting on the findings.

According to London Mayor Sadiq Khan, free school meals could save families about £440 per child annually. Earlier this month, he announced that London schools would offer free meals to all primary school pupils for a year starting in September.

RT 5\3\23

Dave C.

 Millions of Yemenis require humanitarian assistance as the country continues to suffer from the fallout of a prolonged civil war.

 At a high-level UN event, global donors pledged US$1.2 billion in aid operations to Yemen in 2023.  The amount pledged remains well below the organisation’s target of US$4.3 billion. The UN missed its financing target for Yemen by US$2 billion last year.

Yemen’s inflation is up to 45 percent. Elsewhere, food prices surged by 58 percent. In 2022.

13 million people in Yemen relied on the UN’s World Food Program for basic staples. 

To date, the conflict has killed more than 375,000 people, sixty percent from indirect causes (mainly from malnutrition and disease). 

The war has also damaged the country’s civilian and physical infrastructure, including its oil sector – Yemen’s only source of foreign exchange.

Yemen continues to rely on foreign aid. “More than 21 million people, or two-thirds of the country’s population, will need humanitarian assistance in 2023,” said UN secretary-general António Guterres. He warned that aid funding would not provide a panacea for Yemen. “Humanitarian assistance is a band-aid. It saves people’s lives but cannot resolve the conflict itself.”

Among those in need, more than 17 million are understood to be living below Yemen’s poverty line. Meanwhile, an estimated 4.5 million Yemenis are internally displaced, largely due to climate-change-related events.

According to the UN, Yemen is “highly vulnerable” to the effects of rising global temperatures (notably arid weather). In recent years, severe droughts have exacerbated food shortages caused by the war.

UN Falls Short of Aid Pledge to Yemen Despite Peace Efforts | Inter Press Service (ipsnews.net)