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Pauline von Hellermann

#FollowTheMoney 🧵 5/n Adding here a piece a group of us co-wrote at an #anthropology
workshop, on “Understanding Growth”. This was experimental - co-writing on the spot! -, but i do come back to it: we distinguish between“Growth rooted in life” from “growth rooted in numbers”. Capitalism is pure number thinking.

Obviously there are many real experts on all this (Marx, Pikkety for a start), this piece is left field! But just thought of it again in this context.

undisciplinedenvironments.org/

8 March at 7:39 | Open on mastodon.green
32 comments
Pauline von Hellermann

#FollowTheMoney 🧵 6/n This is important: in contrast to most other Central Banks, which simply sit out losses, the Bank of England has an indemnity arrangement requiring the Treasury to cover its losses. This has resulted in £38-£40 billion going in effect from taxpayers to private banks in 2023, and same this year. Adding a second hashtag: #SEEtheOligarchy

FT article only for subscribers, I know (i get it through work). Here screenshots of key passages.

on.ft.com/4bUtp80
8 March at 17:42 | Open on mastodon.green
Pauline von Hellermann

#FollowTheMoney 🧵 7/n Now something different - this really is a rag bag, really just adding things as they come along, occur to me, no careful crafting! Just things that enable you to trace and understand how money flows to the rich, how accumulation works. So here, a piece, with this fantastic map, of second homes in the UK, in #Cornwall in particular. Key arena of widening #WealthGap #Inequality

theguardian.com/uk-news/2024/m

#SEEtheOligarchy

#FollowTheMoney 🧵 7/n Now something different - this really is a rag bag, really just adding things as they come along, occur to me, no careful crafting! Just things that enable you to trace and understand how money flows to the rich, how accumulation works. So here, a piece, with this fantastic map, of second homes in the UK, in #Cornwall in particular. Key arena of widening #WealthGap #Inequality
8 March at 17:52 | Open on mastodon.green
Pauline von Hellermann

#FollowTheMoney 🧵 8/n Adding here a (somewhat sweary, apologies) Politics Joe interview with Gary Stevenson (see 1/n), talking about the rapid increase in inequality in the UK and the world, and also about how we need to make people SEE THIS. They need to realise that the reason their lives are shit, that they can't get houses, is growing inequality. Because the system is set up to make money flow to the rich. Everyone needs to understand this. #SEETheOligarchy

youtube.com/watch?v=DVvoyRpxG-

#FollowTheMoney 🧵 8/n Adding here a (somewhat sweary, apologies) Politics Joe interview with Gary Stevenson (see 1/n), talking about the rapid increase in inequality in the UK and the world, and also about how we need to make people SEE THIS. They need to realise that the reason their lives are shit, that they can't get houses, is growing inequality. Because the system is set up to make money flow to the rich. Everyone needs to understand this. #SEETheOligarchy

9 March at 8:47 | Open on mastodon.green
Pauline von Hellermann

#FollowTheMoney 🧵 9/n So far the has been more about who the money flows towards, but now also some posts about who it flows away from. Again, random collection, no comprensive analysis - just snippets of what’s going on!

Yesterday I listened to this really heartbreaking and deeply worrying programme about the rapid rise in bankruptcies in the UK. Of course we see this all around us - all those closing restaurants, Debenhams etc. the #DeathOfTheHighStreet speeding up

bbc.co.uk/sounds/play/m001x55h

#FollowTheMoney 🧵 9/n So far the has been more about who the money flows towards, but now also some posts about who it flows away from. Again, random collection, no comprensive analysis - just snippets of what’s going on!

Yesterday I listened to this really heartbreaking and deeply worrying programme about the rapid rise in bankruptcies in the UK. Of course we see this all around us - all those closing restaurants, Debenhams etc. the #DeathOfTheHighStreet speeding up

16 March at 9:06 | Open on mastodon.green
Pauline von Hellermann

#FollowTheMoney 🧵 10/n But note the title ⬆️ - what is going on here? Turns out quite a bit of of the program was about how “Zombie firms”were kept alive artificially for years by low interest rates; that it’s good if they die and others take over. Really struck and appalled by utter coldness, distance and dehumanisation by people who say this - as @PippiPunkstrumpf just said, they really think of others just as numbers (see also our “Understanding Growth” piece above 5/n).

16 March at 9:15 | Open on mastodon.green
Pauline von Hellermann

#FollowTheMoney 🧵 11/n Another key area money flows away from are local councils and social services and, therefore, the young and, again, community. In Birmingham, whose council declared bankruptcy in 2023, provisions for children will be cut by £52m in 2024-25 and £63m in 2025-26; youth services by £2.3m; and eleven community centres are being sold off. As John Harris says:

The state is abandoning its people

#UKPolitics #Birmingham #Austerity

theguardian.com/commentisfree/

#FollowTheMoney 🧵 11/n Another key area money flows away from are local councils and social services and, therefore, the young and, again, community. In Birmingham, whose council declared bankruptcy in 2023, provisions for children will be cut by £52m in 2024-25 and £63m in 2025-26; youth services by £2.3m; and eleven community centres are being sold off. As John Harris says:
18 March at 16:51 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵12/n Of course, things were never rosy for everyone. Nevertheless, key shared assumptions about the #commongood informed post war public spending and that is all eroding now.

“Continuing austerity does not just kill people’s services; it has long since warped most political debates about what we should expect from the state. In lots of places, squalor, mess and festering social problems are now seen as the norm. “
#TheCrumble

18 March at 16:58 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 13/n and i have to mention UK universities too, since I am directly affected myself (see #AcademicVenting).

40% of UK universities are in debt, with major reduncancies right now (incl at Goldsmiths). All in arts, humanities and social sciences. All of this is crumbling, with too little money flowing into it. Another industry, another #CommonGood
being eroded. Check out this constantly updated tally. #TheCrumble

qmucu.org/qmul-transformation/

#FollowTheMoney 🧵 13/n and i have to mention UK universities too, since I am directly affected myself (see #AcademicVenting).

40% of UK universities are in debt, with major reduncancies right now (incl at Goldsmiths). All in arts, humanities and social sciences. All of this is crumbling, with too little money flowing into it. Another industry, another #CommonGood
being eroded. Check out this constantly updated tally. #TheCrumble

18 March at 17:11 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 14/n Just realised the title of this really excellent article by Sam Knight is actually perhaps the real theme of this 🧵:

What Fourteen Years of Conservative Rule have Done to Britain

As Sam says, #Austerity is not even talked about so much anymore, but it has just broken the #UK . Please do read the whole piece, so well written, so damning (and I’ve even managed to ignore an aside criticism of Corbyn - usually makes me hate any writer! 😊)

newyorker.com/magazine/2024/04

#FollowTheMoney 🧵 14/n Just realised the title of this really excellent article by Sam Knight is actually perhaps the real theme of this 🧵:

What Fourteen Years of Conservative Rule have Done to Britain

As Sam says, #Austerity is not even talked about so much anymore, but it has just broken the #UK . Please do read the whole piece, so well written, so damning (and I’ve even managed to ignore an aside criticism of Corbyn - usually makes me hate any writer! 😊)
27 March at 5:32 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 15/n

“The average worker is now £14,000 worse off per year than if earnings had continued to rise at pre-crisis rates—it is the worst period for wage growth since the Napoleonic Wars. “Nobody who’s alive and working in the British economy today has ever seen anything like this. This is what failure looks like.” “

A Herefordshire case workers has developed a phrase to describe people needing help, “for her paperwork”:

“Overwhelming Distress”

27 March at 5:43 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 16/n Back to who the money flows towards:

Nobody had a better year than Meta CEO Mark Zuckerberg, whose net worth has increased by more than any other billionaire, up by nearly $113 billion over the past 12 months, to an estimated $177 billion #AI #Meta

forbes.com/sites/phoebeliu/202

3 April at 12:44 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 17/n and here the whole Forbes Rich List for 2024. The planet has a record 2,781 billionaires now who are worth a record $14.2 trillion.

forbes.com/sites/chasewithorn/

3 April at 12:50 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 18/n

Spotify too. Everywhere money is being sucked out (or who has the agency here really? More in next post) from artists to billionaires

mstdn.ca/@ned/1122498035182614

11 April at 6:24 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 19/n

This is what I am thinking about now. Not at all the first to say this or even think it myself, but just to emphasise: better not to think of billionaires as evil scheming money grabbers - i mean, they are - but as vessels for money, capitalism itself. Like, sci-fi wise, human bodies that look like humans from the outside but have been taken over by an AI - money itself. And it’s ruling everything!

mastodon.green/@pvonhellermann

11 April at 6:33 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 20/n

Now really is the time of monsters. #Gramsci
11 April at 6:49 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 21/n Suddenly remembered that at the end of 2022 I posted this here. So embarrassing - cringe, as my children would say! That I actually wrote “the new world is almost born”. No it’s not. The time of monsters is in full, full swing, the new world really is not born yet. All we can do is to keep on trying to organise to make it happen one day. #Gramsci

mastodon.green/@pvonhellermann

11 April at 6:57 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 22/n Last point and then I will stop for today: saw #Hamilton a few weeks ago and was really struck by how then it was possible to start a revolution, raise an army and WIN! Like, that would just be totally impossible now. The imbalance in military power, just as in wealth (and control over media etc etc) is just so VAST now. It’s impossible to beat. That’s why noone really even tries anymore.
11 April at 7:05 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 23/n. Sorry- one more! Just to end on a less bleak note: seeing this toot reminded me that, of course, that billionaire military might AI bleak dystopia is real,IS our world, but there is actually an even bigger reality here every day, in all of us, since forever. Which is that the vast majority of us humans basically just want a simple life, with family, friends, barbecues (ok maybe not perfect example but since it’s here). #FrugalAbundance

ohai.social/@archaeohistories/

#FollowTheMoney 🧵 23/n. Sorry- one more! Just to end on a less bleak note: seeing this toot reminded me that, of course, that billionaire military might AI bleak dystopia is real,IS our world, but there is actually an even bigger reality here every day, in all of us, since forever. Which is that the vast majority of us humans basically just want a simple life, with family, friends, barbecues (ok maybe not perfect example but since it’s here). #FrugalAbundance

11 April at 7:29 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 24/n. Like, watching the blue tits busy building their nest in the box outside our kitchen window, feeding their young, flying back and forth: most of us humans are so much closer to them than to scheming billionaires.

And: this forever (i hope forever- in peril due to other!) reality - of birds, trees, parents hugging children, just enjoying being together - this is perhaps the real reality. Or at least always also there. Mustn’t forget!
11 April at 7:39 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 25/n back to a reality most of us in the UK inhabit on a daily basis: the crumbling public sector. Found this report on NHS dentistry’s struggle for survival really very moving just now. #NHS #dentistry #UKpolitics

bbc.co.uk/sounds/play/m001y0kf

13 April at 10:39 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 26/n An outstanding review by Will Davies (my Goldsmiths colleague) of Brett Christopher’s “The Price is Wrong”: about our neoliberal political economy (using a Braudelian distinction btw “the market” and “capitalism” - SO useful) and how this explain why investments in fossil fuels continue to vastly outstrip those in renewables. Key point: Capitalism IS rent-seeking.
#ClimateEmergency

lrb.co.uk/the-paper/v46/n07/wi

#FollowTheMoney 🧵 26/n An outstanding review by Will Davies (my Goldsmiths colleague) of Brett Christopher’s “The Price is Wrong”: about our neoliberal political economy (using a Braudelian distinction btw “the market” and “capitalism” - SO useful) and how this explain why investments in fossil fuels continue to vastly outstrip those in renewables. Key point: Capitalism IS rent-seeking.
#ClimateEmergency

18 April at 8:53 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵27/n The piece btw contains a necessary critique of my sci-fi “money rules” take a few posts above. Although i still like the idea of all this being a kind of superorganism. But yes, it is about power - political economy, not just economy.
18 April at 9:03 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 28/n But honestly, just read this piece - everything in this 🧵 in one brilliant analysis. And, crucially, using to explain lack of climate action. This is what everyone, each one of us, needs to think about! “Ecologically speaking, neoliberalism couldn’t have come at a worse time.”

Here Christopher’s book itself:
The Price is Wrong. Why Capitalism Won’t Save The Planet.

versobooks.com/en-gb/products/

#FollowTheMoney 🧵 28/n But honestly, just read this piece - everything in this 🧵 in one brilliant analysis. And, crucially, using to explain lack of climate action. This is what everyone, each one of us, needs to think about! “Ecologically speaking, neoliberalism couldn’t have come at a worse time.”

18 April at 9:08 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 29/n Another overlap with #AcademicVenting 🧵- because it’s all of a piece! Because the crisis in HE is a key phenomenon in all this!

This great piece by Jessica Wildfire really needs to be read in full, but this extract most apt here:

“Universities aren't institutions of knowledge anymore. They're assets. They're revenue streams. If they're not generating money for the top, then they only pose a threat, and they have to be weakened and destroyed.”

mastodon.ar.al/@aral/112359018

#FollowTheMoney 🧵 29/n Another overlap with #AcademicVenting 🧵- because it’s all of a piece! Because the crisis in HE is a key phenomenon in all this!

This great piece by Jessica Wildfire really needs to be read in full, but this extract most apt here:

“Universities aren't institutions of knowledge anymore. They're assets. They're revenue streams. If they're not generating money for the top, then they only pose a threat, and they have to be weakened and destroyed.”

30 April at 9:23 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 30/n

Wow. As Bregman says: Stunning graph: the plummeting tax rates of the richest Americans. For the first time in history, billionaires have a lower effective tax rate than working-class Americans.

Look at 1980 - I do continue to think that *everything* could have been different if Carter hadn’t lost to Reagan.
4 May at 6:31 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 31/n I think the graph came from this New York Times piece but don’t have a subscription so can’t check.

nytimes.com/interactive/2024/0

4 May at 6:38 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 32/n Watched “The Founder” on Netflix yesterday, about McDonalds. Really interesting- would recommend it. Particularly how the real breakthrough came when Kroc, advised by Sonneborn, went for real estate. Checked it on Wikipedia:

“McDonald's present-day real-estate holdings represent $37.7 billion on its balance sheet, about 99% of the company's assets and 35% of its annual gross revenue.”

en.wikipedia.org/wiki/History_
5 May at 6:59 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 33/n

Today an overlap with #ClimateDiary: British farmers are struggling due to climate change, Brexit AND supermarket power:

Most farmers receive less than 1% of the profit made from the food they grow. Of the 20% food inflation experienced by the public a minuscule proportion made its way back to the farmer. Tesco made a £2.3bn profit last year, while 49% of fruit and veg farmers fear they’ll be out of business before the end of this one.

theguardian.com/commentisfree/

#FollowTheMoney 🧵 33/n

Today an overlap with #ClimateDiary: British farmers are struggling due to climate change, Brexit AND supermarket power:

Most farmers receive less than 1% of the profit made from the food they grow. Of the 20% food inflation experienced by the public a minuscule proportion made its way back to the farmer. Tesco made a £2.3bn profit last year, while 49% of fruit and veg farmers fear they’ll be out of business before the end of this one.
9 May at 5:56 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵34/n #ClimateDiary

We had a veg box for 12 years from Hankham Organics; 3 weeks ago we suddenly had a note with our box that they were closing, as it wasn’t working financially any more. 😢😢😢

And a fish merchant who we got smoked salmon for Christmas from closed this year too, for the same reasons. Plus Goldsmiths’ woes of course (#AcademicVenting). So many good, small organisations struggling and ending.
9 May at 6:06 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵 36/n Here a positive, progressive use of money flows:

1400+ Columbia University alumni from its 20 schools have pledged to withhold all “financial, programmatic, and academic support” until school meets demands related to divestment, student discipline, and community safety.
Group website says over $63 million of donations at risk. #Gaza #studentprotests
9 May at 17:23 | Open on mastodon.green
Pauline von Hellermann replied to Pauline von Hellermann

#FollowTheMoney 🧵37/n

Even though all of us living in the UK know that homelessness is terrible (and has grown exponentially since 2010), it is still shocking to see this graph.

(There are notes on methods: all countries included both rough sleeping and invisible homelessness).

oecd.org/social/homelessness-c
15 May at 11:22 | Open on mastodon.green
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