Ten Years Since the Global Financial Crash of 2008, We’ve Been Screwed by Austerity, and Now The Predators Want Our Homes

An image summing up the global economic crash of 2008.Please support my work as a reader-funded investigative journalist, commentator and activist.

 

Yesterday, September 15, marked the 10th anniversary of the day the new world order that started under Margaret Thatcher and Ronald Reagan, and continued under Bill Clinton and Tony Blair, blew up spectacularly when the banking giant Lehman Brothers went bust, precipitating a global economic crash that was the worst since the Great Depression of 1929.

The crash came about because investment banks like Lehman Brothers had been involved in risky, toxic deals that should never have been legal, primarily involving “sub-prime mortgages” — lending money to buy homes to people who couldn’t afford them, and then packaging those toxic debts up in other complex financial packages.

The collapse of Lehman Brothers, with debts of $613bn, started a domino-like collapse through the entire financial sector, which had previously thought of itself as infallible, and had been supported in this absurd notion by politicians and economists.

In response, governments spent billions bailing out the banks, while everyone else suffered. No senior banking executive faced prosecution for their crimes, but individuals lost money, businesses folded, unemployment was rife, and the easy credit on which so many people depended dried up. Immediately after the crash, it was at least obvious that others were suffering too — building sites across London, for example, lay abandoned, and even the rich felt the squeeze, but salvation, in the UK at least, was soon at hand when the Tories, with the support of the Liberal Democrats, were able to form a government after the general election in May 2010, and immediately set about creating a new narrative — that the problem was government spending, not bankers’ crimes, and that the solution was to cut public spending. Read the rest of this entry »

It’s 29 Years Since the Battle of the Beanfield, and the World Has Changed Immeasurably

Buy my book The Battle of the Beanfield here.

29 years ago, on June 1, 1985, a convoy of around 450 men, women and children — travellers, anarchists, free festival goers and green activists — were ambushed by 1,400 police from six counties and the Ministry of Defence, and decommissioned with a violence that has rarely been paralleled in modern British history.

The convoy was en route to Stonehenge, to set up what would have been the 11th annual free festival in the fields opposite Britain’s most famous ancient monument, but the savage decommissioning of the travellers’ vehicles, their mass arrest, and the raising of a military-style exclusion zone around Stonehenge put paid to that prospect.

The exclusion zone was raised every June for the next 13 years, until the law lords ruled it illegal in 1999, and since then English Heritage have allowed unfettered access to the stones on the summer solstice, with up to 30,000 revellers — everyone from pagan priests to teenage party-goers — availing themselves of the “Managed Open Access” policy. Read the rest of this entry »

Memories of Youth and the Need for Dissent on the 29th Anniversary of the last Stonehenge Free Festival

Please note that my books Stonehenge: Celebration and Subversion and The Battle of the Beanfield are both still available, and I also wholeheartedly recommend Travelling Daze: Words and Images from the UK’s New Travellers and Festivals, Late 1960s to the Here and Now, Alan Dearling’s epic review of the traveller scene (to which I was one of many contributors), which was published last year, and is essential reading for anyone interested in Britain’s traveller history.

Every year, on the summer solstice, I am confronted by two particular questions, as, I’m sure, are many people old enough to have spent their youth growing up under Margaret Thatcher, or in the years previously, under Ted Heath’s Tory government, and the Labour governments of Harold Wilson and Jim Callaghan, when an unofficial civil war was taking place in British society.

Those two questions are: what happened to my youth, and what happened to massive, widespread societal dissent?

The former of course, is an existential question, which only young people don’t understand. It’s 29 years since the last Stonehenge Free Festival, an annual anarchic jamboree that lasted for the whole of June, when Britain’s alternative society set up camp in the fields across the road from Stonehenge, and it’s 39 years since the first festival was established, by an eccentric young man named Phil Russell, or, as his friends and admirers remember him, Wally Hope. Read the rest of this entry »

On Occupy’s First Anniversary, We Are Still the 99 Percent, and the 1 Percent Are Still the Problem

Exactly one year ago today, on September 17, 2011, activists began camping out in New York’s Zuccotti Park, the spearhead of a new movement that soon spread around the world. Known as Occupy Wall Street, and inspiring a movement that became known as the Occupy movement, the New York encampment was inspired by an Adbusters article in July, which was in turn inspired by the revolutionary movements that had swept the Middle East at the start of the year — in Tunisia and Egypt, where two dictators had been toppled by people power.

“#OccupyWallStreet,” Adbusters announced. “Are you ready for a Tahrir moment?” they asked, continuing, “On Sept 17, flood into lower Manhattan, set up tents, kitchens, peaceful barricades and Occupy Wall Street.”

One year on, and the Occupy movement’s novel power — taking over public spaces and refusing to go home — has been defeated, often with violence, and much of the mainstream media is either ignoring the movement or deriding it, but that, to be honest, is irrelevant, as the mainstream media, more often that not, are part of the problem and not the solution. Read the rest of this entry »

Back to home page

Andy Worthington

Investigative journalist, author, campaigner, commentator and public speaker. Recognized as an authority on Guantánamo and the “war on terror.” Co-founder, Close Guantánamo, co-director, We Stand With Shaker. Also, singer and songwriter (The Four Fathers) and photographer.
Email Andy Worthington

CD: Love and War

Love and War by The Four Fathers

The Guantánamo Files book cover

The Guantánamo Files

The Battle of the Beanfield book cover

The Battle of the Beanfield

Stonehenge: Celebration & Subversion book cover

Stonehenge: Celebration & Subversion

Outside The Law DVD cover

Outside the Law: Stories from Guantánamo

RSS

Posts & Comments

World Wide Web Consortium

XHTML & CSS

WordPress

Powered by WordPress

Designed by Josh King-Farlow

Please support Andy Worthington, independent journalist:

Archives

In Touch

Follow me on Facebook

Become a fan on Facebook

Subscribe to me on YouTubeSubscribe to me on YouTube

Andy's Flickr photos

Campaigns

Categories

Tag Cloud

Afghans in Guantanamo Al-Qaeda Andy Worthington British prisoners CIA torture prisons Close Guantanamo David Cameron Donald Trump Four Fathers Guantanamo Housing crisis Hunger strikes London Military Commission NHS NHS privatisation Periodic Review Boards Photos President Obama Reprieve Shaker Aamer The Four Fathers Torture UK austerity UK protest US courts Video We Stand With Shaker WikiLeaks Yemenis in Guantanamo