Covid-19 & the market

Economists, businesses and social commentators have spoken at great length about how the Covid-19 crisis has shocked the market. Flying between meetings might be a thing of the past for many companies as business goes on as normal by utilising videoconferencing software. Home delivery services are on the increase, whether it is small businesses trying to cope with the lack of footfall or larger companies providing home deliveries for those not wanting to break quarantine. Netflix and other streaming services have seen an increase of users.

The market is changing. The way we operate is changing. These are changes that will linger for long after Covid-19 has become a thing of the past. But, as is a theme above, Covid-19 has done one thing especially well and that is boosting the information and technology and digital services sector.

I work in the aviation sector, arguably the hardest hit by the Covid-19 pandemic. Over the last week:

  • British Airways has cut 12,000 jobs
  • Virgin Atlantic has cut 3,000 jobs
  • Boeing has reduced production by 50%
  • Airbus has reduced production by 35%
  • GE has cut 10,000 aerospace jobs
  • Rolls-Royce set to cut 8,000 aviation jobs

People will travel for business and for pleasure but getting back to the levels seen before the Covid-19 crisis will be a rough, but is it right for companies to reduce their numbers? And how is the move supported by government given those companies listed above have such high profit margins? The BBC today (6th May) released a piece of news regarding Qatar Airways:

“In February, Qatar Airways increased its stake in British Airways owner IAG to 25% as part of its strategy to invest in other carriers.

This boost in confidence in IAG also comes not long after we have found out that the Spanish government has provided IAG with a substantial €1 billion-euro bailout package. This has, however, been directed toward IAG’s low-cost airlines – Vueling and Iberia. The amount has been agreed, but not yet been processed.

IAG has seen year-on-year profits before the Covid-19 pandemic (as illustrated below) leading to staff threatening strike action in regards to pay. Which raises the question; why was British Airways was so keen on making 12,000 staff redundant?

It is often argued that companies need to make reductions because they need to survive and to stay afloat. A slashing of jobs means that the company can go on. But Covid-19 removes us from what are considered standard levels of business practice and instead shoves us back into the realm of fiscal tightening not seen since the financial crash.

It is precisely because of this debacle that we need companies to put their staff first and continue to keep them in employment. We limped out of the last financial catastrophe with a huge divide between those that have money and have the facilities to store it in offshore accounts or who bet against the market, a practice known as “shorting”. The majority of us don’t have these capabilities and are therefore more likely to suffer as a result in companies clamming up with the money that their employees helped them create.

The money going into hands of employees means that more funds will be diverted to other areas of the economy that have seen a drop because of Covid-19 such as the retail sector, restaurants, pubs, renovations and home improvement that would bring back the fleet of self-employed people who suffered a shock after Rishi Sunak’s emergency Covid-19 budget. People will also be able to pay their mortgages and their rent instead of facing the ridiculous one month deferral period in which landlords are not allowed to kick out tenants.

Unprecedented times call for unprecedented measures. This is one of those times when big businesses need to not stem the flow of money, but approach their workers with a calm and collected resolve to spread money and help stimulate the economy. And maybe even win back some trust and faith from their employees because, when the time came, the companies did the right thing.

Homage to Ozack Van-Damme

I loved my car. A Renault Clio Tourer Dynamique with a 1.1 engine, though the engine size didn’t stop Renault selling it as a; “sport edition.” Every time I renewed my insurance I had to convince the person on the other end of the phone that it didn’t have spoilers and nitrous but it did have a large boot for shopping and it shook when it hit 71 mph.

When Ozack Van-Damme shuddered to a stop on a busy dual carriageway I had no idea he was going to be a write-off. The recovery guy told me it didn’t look good before he winched it onto the back of his van and drove Ozack and myself to my local garage.

A couple of days later I got the call. He was as dead as dead can be. A piston shot through thrle cylinder and there was nothing I could do without materialising a couple grand. The next day I found myself emptying Ozack of all those things a car holds. Receipts. Emergency kit. Log book. Ice-scraper. No matter how hard I jammed my fingers down into the gap between driver’s chair and handbrake I couldn’t reach that two-pound coin.When it was emptied, I watched it get hauled onto the back of yet another recovery vehicle. Why didn’t it have scrapyard or car funeral service written on the side instead of “recovery vehicle” as if it was going to give Ozack another chance at life?

Ozack took us around Europe, large boot crammed with camping gear and three weeks-worth of clothes for three of us. He had taken us across the flat expanse of the Netherlands, along the no-such-thing-as-a-speed-limit autobahn and up the steep mountain roads of Switzerland.

It is because of Ozack that we accidentally discovered a dogging spot and caught sight of two people going at it in the back of an old faded red Vauxhall something-or-other, pale naked figures illuminated by our headlights as we swung out of the car park. Men and women stood around the Vauxhall looking like rabbits caught in headlights, others refused to look up and instead kept their heads down. I made out furrowed brows as if they were pondering the universe and not whacking off as they watched two strangers going at it. Though we didn’t see any spectator flesh so maybe it was too cold.

My partner and I had spent many a night huddled under duvets in the back of Ozack, the car perched on top of the cliffs of Cornwall. We were rocked to sleep by harsh coastal winds and awoken by morning light draining in through the windows.

It saddens me to think that he is being put through the works at the local breakers yard. But I guess like so many dead bodies he is being plucked of organs so other machines can last that little bit longer.

Privatisation

The public services are the heart of this country. We rely on the police to uphold the law when we become victims and when others do wrong. We rely on the NHS to save our lives, cure our ailments and provide care. When we have a child, the doctors and nurses of the NHS bring it into the world. When our relatives die, doctors and nurses make sure that they go with dignity. Could we ask for anything more?

Indisputably, Austerity has done incalculable damage to the public services. Police budgets have fallen by 19% since 2010 despite a (albeit sometimes slowly) rising GDP. Police numbers have been slashed and the remaining numbers are stretching themselves across an expanding population. Because of this, the standard of policing is going down along with morale within forces throughout the U.K. This means that the quality in policing is in decline.

There are fewer bobbies on the beat thus reducing community policing effectiveness. This would usually be apparent by a reduction in the levels of gang affiliation and thus criminal acts such as knife and moped attacks. Community policing is also speculated to help in the war against terrorists.

It has now emerged in the ‘i weekend’ that businesses are now paying for police paroles. Easyjet, ASDA, development giant the Berkeley Group and the Westfield Shopping Centres are a few.

Whilst this might seem innocuous at first glance, it is indicative of the pursuit of private interests in what should be a publicly financed, impartial and equal policing system. To bring in corporate interest is to essentially allow bias into the process as well as taking members of the police away from communities that would be better served by community police initiatives.

There is no widespread collective effort to battle the privatisation of public services because the change is happening incrementally. That is the evil of gradualism; people are less likely to notice or even care about change if it happens slowly. It stops becoming the evil you see and more about the evil you had no idea existed until you are being asked to provide medical insurance forms when you go into A&E.

In 2012 the Health and Social Care Act was passed which allowed “any contract over £615,000” to be tendered out to private companies. As Paul Gallagher writes, the process of privatisation has been aided with the passing out of multiple contracts worth around £128m under the watch of Health Secretary, Matt Hancock.

It is not hyperbole to suggest that we might be seeing the Americanisation of our public sector.

Traditional Values Vol. 1: Nationalism

Never before have we seen so many advances and changes to our world as we are seeing today. Climate change, the rise of biotech and infotech. The proliferation of automation and the move toward artificial-intelligence which could either improve our wayso of life, or challenge who we are as humans. The mainstreaming of electric cars and the growing awareness of plastic pollution. Widespread movements to give previously overlooked or unrepresented factions of society equal rights. The rise of Asian economies which may soon rival our own in strength, and may even become superior which could change the ways we conduct business and alter long-standing loyalties. I was even shocked recently to find out that China even has plans to build a base on the moon and mine our little white dot in the sky for hydrogen.

This is the stuff of science-fiction!

The point is: we are in a transitional phase and are suffering the existential question of how to cope with the challenges we read about in our papers and see on our television screens and social media feeds. When faced with an uncertain future, people often look to their past. To “traditional values” to guide them through the turbulence. But what exactly are traditional values and do they offer us any guidance for the future?

Nationalism

Nationalism seems to be on the rise in the West and has led to two of the most significant changes that we have seen in our lifetimes: the U.K’s vote to leave the European Union and the vote in America for Donald Trump as President. As an answer to perceived outside threats, two major powers have turned to isolationism.

Globalisation was a worn out word by the end of the referendum of 2016. As was elites. Sometimes we heard “global elites”. The European Union, as pushed by Nigel Farage, Boris Johnson, Michael Gove and sundry others, was a product of globalisation.

Leavers pointed to levels of immigration and told the people that it was the European Union’s open border policy that was to blame. Leavers pointed out the disenfranchised peoples of towns that had been left behind when the U.K turned from a material and production economy to a service driven economy. The European Union was blamed again for moving production facilities abroad. The decline of U.K fisheries, blame the E.U. Red passports, blame the E.U. Curved bananas, blame the E.U. Hospital waiting times, blame the E.U. Rise in crime rates, blame immigration, thus blaming the E.U.

So, can the problems listed above be solved by a move toward nationalism as was what happened in 2016?
In regards to immigration, yes, technically nationalism has the potential to cut numbers of immigrants or stop them altogether.

But is that really in the national interest? Or is it in the interest of nationalist groups? For instance, whilst the cutting might benefit those who just want see less faces of colour or to hear different languages on their streets (the nationalists) the nationalist approach itself does not do much for our economy, our public services or for our reputation as “global players” which was a phrase championed by Leavers during the referendum campaign and even now.

Whilst the phrase “global player” was used extensively throughout the referendum, the truth is that the actual action of leaving the biggest and most successful trading bloc in the world was seen by many around the globe as an act of closing one’s own doors on trade.

The NHS is dependent on nurses and doctors from the E.U and further abroad but since the Brexit vote we have seen a dramatic decrease in the amount of people applying for university courses in nursing and a drop in job applications from outside the U.K. This is indicative of the trend that those from within Europe and outside the Union were no longer interested in investing in the U.K.

Nationalists might see this drop in foreign applications as a good thing as there is potential for British citizens to take the jobs. The problem however is that it takes years to train doctors and nurses and, in the meantime, care within the NHS would have plummeted. Ironically, it would be those older voters which chose leave who would suffer the most. With around 100,000 vacancies already within the NHS, this further reduction could potentially cripple certain elements of patient care.

As is being witnessed, the idea of being both nationalist and a “global player” is not compatible.

The main problem of the referendum, however, was that it focused anger outward toward the largely neutral E.U, when the truth was that the problems that the U.K faced were actually born and bred within its own borders.

Austerity due to bailing out the banks that had lead us into the financial crash of 2008. The rise in crime as a result of Conservative initiative to cut policing numbers so that there were fewer bobbies on the beat. (Remember Theresa May telling the police federation to stop “crying wolf” in 2015 regarding police cuts). Disenfranchisement of communities as the economy changed toward services and offices were centralised toward London. Those who were workers within communities who worked within extraction and production were never provided the means to retrain, and were instead left to become outdated.

A lethal combination occurred when the finger was pointed at immigrants for pushing wages down. The fact that immigrants were benign agents in the entire mess of things was rarely pointed out and the fact that it was actually exploitative practices being undertaken by business owners. Business owners have been largely left alone by the most recent governments, after all, it is good practice to be the party of business.
This goes to show that the so-called “global-elites” were actually the people within our own borders. Our very own Prime Minster of the day, David Cameron found to be putting money into offshore Panamanian accounts. For years we watched as the government refused to impose proper tax initiatives that would have seen large companies paying their fair share of tax which could have put toward social ventures for our children, thus keeping them out of gangs and preventing such a sharp increase in knife-crime. Not only were companies doing so, but the Conservatives were helping them maintain the status quo.

Britain has for years now been deeply entrenched in off-shore bank account activity that it the global master on managing assets and transferring money to keep it from the hands of nations. It is estimated that half of all global wealth could be locked up in off-shore accounts.

Image source: wikimedia

In the face of problems that originated within our own national system, people turned to nationalism to sort out the problem. That is a new one for me.

In 2013, the E.U offered to give a £22million cash injection into food banks in order to make sure that they were stocked and operational. This was turned down by David Cameron. Whilst our own government strangled the country, the E.U at least offered some kind of help. But that’s not all. The E.U has also been funnelling money into community projects including social groups and buildings, but this is rarely mentioned. The E.U is also a propagator of worker’s rights and is constantly moving to improve pay throughout its jurisdictions. When we are faced with military or cyber warfare, as we have seen from Russia during the referendum campaign and which the U.S witnessed during the presidential campaign, the E.U has close proximity to share information and make sure that each of its member states has the necessary tools to help fight back.

So, nationalism does not actually offer any real solutions to our national problems. Does it offer solutions to wider world issues? In an age of transnationalism, could countries learn from nationalist ideals?
Climate change is not an issue, it is the issue which will determine the very future of human civilisation. And climate change does not recognise borders drawn by man. A tropical storm does not stop when it hits the American coast. It ploughs through and wreaks untold damage. Plastic does not stop at the English Channel. It sweeps in and becomes part of our ecosystem. Just as much as melted ice does not stay in the Arctic Circle but raises water levels around the world.

And when islands start submerging and already challenged countries face drought and famine, we are going to see mass exodus unlike anything witnessed in documented history.
Unfortunately, nationalist interests have often disregard climate change in order to focus on more provincial initiatives such as kick-starting coal mining operations or doubling down on fuel extraction efforts. In the United States, nationalism is often synonymous with climate change denial as is evidential with Donald Trump’s repeated claims that climate change is a “hoax” perpetrated by the Chinese.

In regards to solutions to the climate crisis, nationalist approaches fall short. If nationalists really wanted to make a difference, they would join the global effort to battle climate change which would in turn mean that they are less likely to experience such a high influx of immigrants to their borders. Instead of becoming isolationist, it is within nationalist’s best interests to take part in a multi-national approach in order to combat the effects of climate change.

But then what would be the point in being nationalist when all we are going to do is have to work with countries around the globe and put measures in place which, whether we like it or not, would see the adoption of plans to take in refugees fleeing the effects of an unstable and changing climate?

Throughout history, civilisations have moved and shifted as the cattle migrates or as the living conditions change. After all, if the U.K were to become a dessert wasteland, would we not seek refuge in other countries? But we are the beginning of the catastrophic change where the decisions we make today will effect the next generation. We have the ability to make positive differences to the ways we tackle this threat. But are we capable of doing this as nationalists? Surely we are better prepared against the challenges if we work on an international scale?

Crawley Creeps, Vol.11

The kettle clicked and Troy busied himself making cups of tea. Marcus sat at the kitchenette table, dozing. Hitesh sat opposite flicking through a dog-eared health and safety manual.

‘I saw a documentary about some cargo trains in China,’ Troy said, putting a cup of tea in front of Hitesh.

‘You still going on about this?’

Hitesh cupped the piping tea and glanced at the electric radiator panel. The orange light was on but Hitesh had yet to feel any heat.

‘Yeah. Of course. I get scared thinking about it. It was huge. I’ve never seen anything like it before.’

‘All kinds of companies run trains up and down the track.’

Troy shook his head and slumped in a plastic chair. Marcus plucked his mug from the table. They drank their teas and went through a brief plan. When they were finished they cleaned their mugs and headed back out into the cold.

Marcus stuck a key in the lock of a large storage container, opened the doors and flicked on the light. A dull bulb eeked yellow and stained the space with shadows. Marcus pulled out a generator and wheeled it outside.

‘It’s fucking freezing,’ Troy said. He rubbed at his arms and jogged on the spot.

‘Let’s get working then.’

They rummaged and pulled out two work-lights from the racking and headed out. The generator stood in the weak glow beyond the doors.

‘Where’s Marcus?’ Troy asked. Hitesh looked over to the toilet cabin. There was no light on. He turned and looked down the sides of the container whilst Troy looked through the kitchenette window. ‘Not in there.’

Hitesh cupped his mouth. ‘Marcus!’

Only the sway of the unseen trees and wind brushing against the small compound answered. Troy walked over.

‘Maybe he’s taking a piss.’

‘Marcus!’ Hitesh called again.

‘Or playing a prank.’

Hitesh doubted it. Marcus wasn’t a joker. He was grumpy to the point of morose and the only time Hitesh had known Marcus to laugh was when his ex-wife asked for a divorce.

‘There,’ Troy said, pointing to the mass of shadows that was the treeline. Marcus’ orange clad form could just be seen slipping between the trees, away and up the steep incline.

‘Marcus! What the hell are you doing?’ Hitesh called.

‘We can see you, you bellend!’ Troy shouted through laughter. Hitesh wasn’t laughing. The orange form didn’t turn. Didn’t react. Just trudged upwards. The darkness swallowed him a few seconds later. Hitesh pulled his torch from his pocket and clicked it on.

‘He’s just pranking us,’ Troy said.

Hitesh’s beam caught something moving. Another. And another. Everywhere he pointed the beam was another one. A man carrying a dog lead and clad in a heavy wax jacket. Another man in pyjama shorts and a T-Shirt. A woman wearing a nightie turned transparent by rain. An old lady with a bend at the top of her spine pushing her almost double stomped the ground as she ascended.

‘Jesus fucking Christ,’ Troy whispered.

All the people were heading toward the top of the ridge.

Muse

The world is cheering. Air parted by clapping hands and screams of joy. I stand in the middle of the field along with so many others and stare as Muse soars for the celestial heavens.

A handful curse the ascent. A preacher has materialised from the wood work and is running a sermon on heresy. She’s got a crowd and they cluster round her like iron filings caught in a magnets grasp. Anyone who turns their eyes to the sky would see this was mans pinnacle achievement. Disbelievers be damned.

The Muse vessel is pushed by a billowing snake of hydrogen surging the ship into the sky and through the atmosphere. It was as if mankind had awakened some elemental being, born from the baked earth but destined to transcend.

A local production company had erected a huge screen in the middle of the field. It shows the Chosen Ones. Sixteen hundred colonisers sitting in rows. Cheers and smiles can be made out through faceplates. Tears of happiness and fear. Some raise their hands treating it like the single biggest and most expensive roller coaster ride the world had ever seen. Which, of course, it is. And why not? They have a ticket into the history books, they are going to have statues erected in their honour in every country on earth.

The first colonisers.

Lucy clasps my hand. Her eyes are skyward, her face a mask of anxious hope. Her sister, Freiya, is a Chosen One. Her name had been chewed over by the Muse mission databanks and ejected at the lottery. She had the right “genetic qualifications”. No history of hereditary disease in the family, no psychiatric problems. Good blood. Her father a Ghanaian athlete, her mother a diplomat for the Australian government. Mixed. Strong. My wife could have be one of them but they didn’t allow more than one member of any family.

Good.

I can’t imagine watching Lucy being shot away from me. To experience the frightful nothingness of space and to start anew on Tierron whilst I died here on Earth.

Muse is in its final arch. I can’t make out the vessel from this far down so I watch the new image on the screen. A zoom shot of the outside of the vessel. Sun shattering against the external mounted solar panels, friction scorching the outer hull. A diamond in the blue sky. My wife squeezes harder, the breath catches in my throat and I feel tears stinging behind my eyes. A voice comes over the loudspeakers.

‘Ladies and gentlemen. The Muse Project has le-‘

Explosion. Highly volatile fuel burns white across miles of airspace as if a star has erupted into being within our atmosphere. Stunned silence. A hiss of static from the dead camera feeds. A thud in my finger. Broken. But the pain is distant, as if it had happened to someone else.

I turn to Lucy. Tears tumble down her cheeks. I can see the quick intake of breath fill her chest before she screams. The sound is pure agony. I move to hold her but she drops to her knees.

Above, debris shoots to all points of the compass.

The screen changes. A face. Everyone knows him. He’s crying. His voice is coarse with pain.

‘Ladies and gentlemen.’ People’s screams and pleas and sobs ebb away as they turn to the screen, wrenching their eyes from the flower of debris descending back to earth. Lucy doesn’t look. She stays on the floor and screams into the dust.

‘The Muse Project…has failed.’ A hush blankets the crowd, a few whimpers that sound like wounded animals. The preacher on the far side doesn’t miss a beat and fills the stunned silence with a screech of laughter. I glance over, someone is moving toward her, shoulders hunched. I don’t care. I don’t feel anything. I turn back to the screen.

‘It is with a heavy heart…that I tell you now that this project was humanity’s last hope at survival.’

A ripple of confusion, a few exchanged glances.

‘You were told this was to be the biggest colonial effort that mankind has ever attempted, the next big step as humanity reaches into the galaxy. You have been told a lie. The Muse Project was an arc mission. A mission to send survivors to Tierron. A last ditch attempt to save humanity’s future…away from earth.’

A woman screams. A man next to her plucks up a camping chair and hurls it at a bank of electrical equipment. Everyone ducks as gunshots fire out. Pockmarks pepper the crying man’s face. He keeps talking.

‘The Agriculture Initiative has failed. The last remaining stocks—‘

Another man kickd the generator and the screen goes blank. I wrap my arms around Lucy’s waist and pull her to her feet.

We run for the treeline.

The world is about to tear itself apart.

Crawley Creeps, Vol. 10

Nora chased after Melissa. Pins of rain stung her eyes and pricked at her face but she kept on.

Melissa had never been faster than Nora. Through school Nora had been the athlete. High jump, hundred metre dash, Nora was always grabbing gold or silver (even when no one was counting but her) and yet Melissa was outstripping her.

But Nora was sure that the woman she was chasing wasn’t Melissa.

A glimpse of movement up ahead caught Nora’s eye.

A woman was being attacked by a dog who was yanking at her leg. Second by second Nora’s day was getting stranger.

The woman tripped and went down. Nora watched horrified as Melissa kicked the woman clean in the face. Even from this far back Nora could see the ribbon of blood twist up into the air.

Melissa didn’t stop. Didn’t even skip a beat. Just kept on running.

As Nora reached the woman on the ground she saw the true mess of her face. The pleading look in her eyes. Almost childlike confusion. Nora stopped. She couldn’t catch up with Melissa anyway. Her sister was too far ahead and still gaining speed.

Nora watched her disappear around a bend in the path and she was gone.

‘What the fuck is going on?’ the woman on the floor whimpered.

The woman’s face was a mess. Her nose had been pushed to the left and was pissing blood across her mouth and chin. Her dog, a small terrier, was standing off to the side near a bunch of ferns, trembling and uncertain.

‘Are you okay?’ Nora asked.

The woman wiped at her face and seethed. Stared in shock at the blood smeared on her hand.

‘What the hell was that?’

‘My sister. I’m sorry. Something’s wrong with her.’

The woman pushed herself onto her backside. Spat blood onto the path. Nora knelt down. ‘Come on. Let me give you a hand.’ The woman looked at Nora uncertainly before letting holding out an arm.

Nora heaved the woman up.

‘You…you said something was wrong with her.’

‘Yeah. Look, are you okay?’

‘What’s wrong with her?’ the woman asked aggressively.

Nora didn’t know what to say. She gawped at the woman. The stranger she had tried to help and who was now bearing her teeth, eyes wild. In that stunned silence, the truth bubbled up from the depths of her subconscious and burbled out.

‘I…she felt something.’

The woman blinked. Scratched the back of her head. ‘She felt it too.’