CAPITALISM DESTROYS

  "As with the international climate negotiations which ended in fiasco last year in Copenhagen, the biodiversity talks in Nagoya could well end in political stalemate -- as the situation in numerous ecosystems around the world gets worse and worse. Already, 20 percent of the planet's 380,000 plant species are in danger of becoming extinct, primarily due to habitat destruction caused by the world's growing population. Of 5,490 species of mammals, 1,130 are threatened and 70 percent of the world's fish population in danger from over-fishing" (Der Spiegel, 18 October) RD

$312,00 FOR A WATCH?

   "Purists prefer Patek Philippe, says Vanessa Herrera, deputy director for Sotheby's Asia watch department. Every time the auction house has a Patek in its lot, it is flagged as an auction highlight. For the Oct. 6 Sotheby's watch auction, a Patek Philippe platinum 5078P sold for 2.42 million Hong Kong dollars (US$312,000). It was "a most sought-after piece," says Ms. Herrera." (Wall Street Journal, 18 October) RD

BIG BUCKS BALLOT

  Defenders of American capitalism are fond of claiming that whatever its faults it is at least democratic. It is however a strange sort of democracy wherein money is the real dictator. Take the election campaign of Meg Whitman for the California Governorship. "With nearly two weeks to go before the election the eBay billionaire's campaign to become chief executive of California has already smashed all records. At $140 million (£89 million) it is the most expensive non-presidential campaign in American history and the deepest any candidate has ever delved to fund their campaign." (Times, 25 October). There is nothing unique in large corporations pouring millions of dollars into election campaigns, but in this case we have an individual spending a grotesque amount that represents about $8.24 for every one of California's 17 million registered voters. Her opponent has spent a "mere" $20 million! This is democracy? RD

The rich get richer

Wage freeze for many. Benefit cuts for many.

Transport tycoon Brian Souter reveals the value of his investment portfolio has risen by 41% over three years totalling £400million.

HOME OF THE BRAVE?

"The number of homes taken over by banks topped 100,000 for the first time in September, though foreclosures are expected to slow in coming months as lenders work through questionable paperwork, Banks foreclosed on 102,134 properties in September, the first single month above the century mark, RealityTrac said. There were 347,420 total foreclosure filings in September, 3 percent higher than August and 1 per cent higher than a year earlier." (Yahoo News, 14 October) RD

ARE YOU SUPRISED?

"George Osborne's claims that his spending cuts are fair have begun to unravel after the country's leading tax and spend think-tank revealed the poorest will be hit harder than the better off. In its analysis of the chancellor's spending review, the Institute for Fiscal Studies described the public spending cuts as the deepest since the second world war and said benefits would suffer the biggest squeeze since the 1970s." (Guardian. 21 October) RD

Better off?

CONSPICIOUS CONSUMPTION

"Christopher Kane's silk-embroidered cashmere jumpers could look a bit prim. But they're the coolest thing in knitwear right now. Price: £930." (Independent, 4 October) RD

SAINTS AND EMPTY TILLS

For hundreds of years the Pope ruled supreme in the Vatican and never ventured beyond its sacred environs. In recent times though less and less people are swallowing the medieval nonsense that is the doctrine of the Roman Catholic Church and he is forced to become a sort of Thomas Cook tourist. The current holy father looks like beating all records in air miles as he tries to whip up enthusiasm for a growingly unattractive organisation. He recently visited Britain and declared the prospect of sainthood for an English convert. Now concerned about falling attendances in North America he is about to canonise a Canadian doorman. "A Canadian monk who began life as a sickly, illiterate orphan before becoming a porter is to be canonised at the Vatican on Sunday. Alfred Bessette was renowned in the late 19th century as the diminutive doorman of Montreal's College of Notre Dame, whose hands were said to have powers of healing. ... He began his life at the college in 1870 as a porter. "Our superiors put me at the door, and I remained there for 40 years," he said later." (Daily Telegraph, 15 October) As an organisation that claim to have the keys to heaven they could do worse than make a doorman a saint. They have got to get those empty collection bags full somehow. RD

OUR BETTERS?

"Three peers should be suspended and repay expenses, A parliament."committee-report-on-conduct/" a House of Lords committee has recommended after investigating their claims. Baroness Uddin should be suspended until Easter 2012 and told to repay £125,349, the committee said. It also recommended Lord Paul be suspended for four months and cross bencher Lord Bhatia for eight months.Baroness Uddin has been suspended from the Labour Party and Lord Paul has resigned his party membership Lord Paul has already paid £41,982 and Lord Bhatia has paid back £27,446." (BBC News, 18 October) RD