Tag Archives: Debt

Understanding Britain’s Debt Through Biscuits: How Labour MPs Embrace Viral Trends

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A recurring question for progressives is how to create a straightforward and impactful message regarding the economy. A Labor MP discovered the solution through a few bags of M&S biscuits.

Gordon McKee, who represents Glasgow South, shared: Over 3.3 million views on X. In a brief 101-second video, he employs a stack of custard creams and chocolate bourbons to represent Britain’s debt-to-GDP ratio.

While this may not appear to be a monumental achievement, it’s worth noting that some of the world’s most prominent politicians (such as Donald Trump, Nigel Farage, and Zoran Mamdani) have effectively utilized well-crafted short videos to disseminate their campaign messages.

Yet, within the Parliamentary Labor Party, Mr. McKee stands out as a pioneer— the only backbencher known to have enlisted digital content creators.

This choice proved fruitful, as a series of professionally produced videos utilizing the popular Grubby analogy were crafted to achieve viral status. In recent weeks, several of his colleagues, including Leeds East MP Richard Burgon, have begun to follow his lead.


“I feel like I owe an apology for starting this!” McKee remarked humorously, asserting that digital communication and campaign strategies are now essential for politicians.

He aims to release several such videos each week, focusing on platforms like Instagram, TikTok, and YouTube shorts. Unlike X, these platforms can engage audiences beyond the politically active.

“Last week I spoke at a local high school and asked how many read a daily newspaper; only one hand went up. When I asked how many used Instagram, every hand shot up,” he noted.

“While there’s been a significant shift in how people consume information in the last decade, the communication methods of politicians and MPs with their constituents have not kept pace.”

Signs indicate that the Labor machinery is gearing up. On November 21, Keir Starmer emailed Labor MPs to announce the party’s “significant investment” in a “new comprehensive training program” for digital campaigning.

Internally, the party unveiled what it dubbed a “second phase strategy” to modernize its campaigning using social media and an app called Labor One, acknowledging that “the way we campaigned in 2024 isn’t enough to secure victory in 2029.”

Diet members have started taking initiative as well. Burgon employed 200 packs of Sainsbury’s Fusilli to show how £1 billion compares to the UK average salary of £33,000. His video garnered around 650,000 views on X.

“This past weekend, while touring church fairs in my district, I was surprised by how many people had seen this video,” Burgon stated. “I’ve been advocating for a wealth tax for some time and thought this would be a creative way to spread the message.”

The 106kg pasta mountain purchased by Mr. Burgon’s parliamentary team was donated to a London food bank after it became impractical to transport it to Leeds.

Loughborough MP and economist Jieven Sander noted: We produced a James Bond-themed video during Budget Week to discuss the various factors influencing government bond interest rates. “I’d love it if people read my 2,000-word essays, but they don’t. I need to find a way to make them engaging,” he expressed.

He relies on his existing parliamentary staff equipped with smartphones and a ring light mounted on a tripod in his office to create online content. Social media planning features in their regular weekly status meetings.

When asked whether the government should take more steps to motivate MPs to modernize their communications, Mr. Sander expressed concerns about potential restrictions.

“When communication is more organic and people comprehend the government’s message in diverse ways, it tends to work better,” he pointed out. “If there’s a unified vision, everyone should be able to understand the script.”

Several incoming ministers are also branching out on social media, including Treasury Secretary Dan Tomlinson, who recorded a casual pre-Budget video while heading to Greg’s for donuts. Westminster Underground Station. AI Minister Kanishka Narayan filmed a video with my iPhone discussing the advancement of technology in the UK.

Some ministers are also engaging in this trend. Housing Secretary Steve Reid held an “Ask Me Anything” session on Reddit concerning plans to reopen local pubs in September. Energy Secretary Ed Miliband, a long-time enthusiast of vertical videos, stated: Used ASMR to promote a government announcement about small modular reactors (SMR).

“During the general election, we had a significant team to support individuals in these efforts, but now they must undertake it within their own offices,” a Labor source remarked. “It’s more challenging when you’re not on the offensive and need to defend or create a positive narrative. This is why creativity is essential. It’s a tough skill to master, but it’s absolutely crucial.”

Mr. Mackie argued that this challenge is particularly pronounced for the left because right-wing figures like Mr. Farage and shadow attorney general Robert Jenrick excel at telling very clear and straightforward stories across various platforms.

“The task for progressives is to convey complex arguments that are realistic, aspirational, practical, and attainable, while doing so in a captivating and engaging manner,” he commented.

Source: www.theguardian.com

Reclaim Your Rest and Settle Your Sleep Debt

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Paul Brigginshaw/Millennium Images, UK

What's the difference between time spent in bed and bank balance? No, this isn't the start of a terrible joke – and the answer isn't as simple as you think.

We all have the odd occasion where we stay up too late and don't get enough sleep. Think of it like splurging on an expensive dinner. I probably shouldn't, but I hope it doesn't hurt my bank balance too much.

This article is part of a special series exploring important questions about sleep. Click here for details.

However, not getting enough sleep on a regular basis is a problem for many people, and the Centers for Disease Control and Prevention reports: One-third of adults spend less than 7 hours a night – Sleep debt can accumulate and have serious implications for your physical and mental health (see Why your chronotype is key to knowing how much sleep you need). Just like paying off a financial debt, getting your sleep back requires a plan.

Part of the problem is that we may not realize how much sleep debt we have and how negatively it is affecting us. in one studyFor example, participants were randomly selected to work 4, 6, or 8 hours per night for 14 consecutive days. Ultimately, those who slept less than six hours showed cognitive impairments equivalent to up to two full nights of no sleep. However, even though they felt unwell after a few days, from then on, those who underwent sleep restriction did not necessarily realize that their cognitive performance continued to decline. “A tired brain cannot recognize how tired it is.” Russell Foster,a…

Source: www.newscientist.com

Personal finance guru who ignored their own advice and fell into debt | Life and style

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“I was known as the coupon lady,” says Lauren Cobello, 43, who used to charge $5,000 per YouTube video as a personal finance influencer. “I was a regular on the Today show and Good Morning America, wrote a blog, and worked for a newspaper. I had no financial experience, but coupons and budgeting helped my family save $40,000. I paid off my debt, and people wanted to know how I did it.”

Friends invited her to church groups and seminars to share financial wisdom. From there, she was invited to appear on local television, lending her influence. By 2016, she was a mother to her four children and she posted several times a day. She hired her two staff, wrote her three books under her married name, Lauren Gruetman, and with her then-husband Mark, co-authored her household account book. I’ve launched a podcast.

“My life revolved around it. I became obsessed with it. The last Sunday of every month was ‘Budget Night,’ where I shared everything I spent on Facebook Live.” It was also about family. The kids appeared on my YouTube video and I took a video of my finances, took pictures of all the groceries on the table, and broke down the expenses. My kids thought it was normal. It became my image, my very being, and it was very difficult to separate from it.”

Lauren Cobelo struggles with her Instagram budget. Photo: Instagram/@lauren_cobello

When her marriage broke up in 2017, her financial outlook changed. “I felt like our divorce was pretty public, but after the separation and financial settlement, I didn’t want to talk about my financial situation anymore because I was in debt.” she says. “I was giving such great advice, but behind the scenes I wasn’t listening to it. I was a single mother supporting four children. Everything fell apart and I was trapped. I felt like I was tired of budgeting and talking about it, and I didn’t want to do TikTok anymore because I just didn’t care anymore.”

She continued to post to her more than 350,000 social media followers, but at a personal finance conference last September, she decided to change direction and go public with her debt. “Everyone was crying when I told them what was going on behind the scenes. I told them, honestly, I wanted to kill myself, but the only thing I’m good at is being an influencer and being on TV.” I told them it was about coming out and playing the role.”

Earlier this year, she also confessed on Instagram. “It was so hard for me to post that video. I received so many great comments from people who have been following me for a while. At the end of the day, I gave some great advice, but I don’t want to give it anymore. I didn’t want to be the giver. I was scared to hang up my hat, but I wasn’t scared of what people would say or think about me.”

She announced that her content is focused on her new business, a PR agency for authors, where she posts about her clients rather than herself. “My followers were surprised, but I didn’t lose them,” says the New York native. Offline, she’s in debt but no longer budgets.

“I’m a completely different person than I was five years ago,” she says. “I don’t even have a budget. I break all the ‘rules’. The reason I sold my house and am living in a rented house is because I am finally debt free. I’m a single mom so I lease my car because I don’t want to fix anything. I’ve had groceries delivered, someone to do my laundry, and someone to clean my house, all of which I would have felt guilty about. I live within my means and I know exactly what to spend it on, but I can breathe. And I spend money on things that bring me joy, like getting my nails done or going out with my kids.”

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Before making the switch, Cobello was making $1,500 on Instagram Reels and $2,500 per YouTube video. Now, she employs five people to run the business on her behalf. “I felt stuck in this frugal mother role, as if there were two Lawrences, and I’ve been trying to get them to mesh again this past year. People still come to me and say, People come and ask me how I’m going to manage my budget. The truth is, I don’t care what kind of money you spend. It’s not my identity anymore.”

Source: www.theguardian.com

Ex-Crypto Director Restricted from Australia Following Collapse of Blockchain Global and Debt of $58 Million

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A former director of Blockchain Global, an Australian cryptocurrency company that went bankrupt and owed creditors $58 million, has been banned from leaving the country.

The Australian Securities and Investments Commission secured an interim travel ban in the Federal Court on February 20, claiming director Liang “Alan” Guo was a flight risk.

Mr. Guo, a Chinese national, was ordered to hand over his passport to the court.

The hearing was held in Guo’s absence, so he did not have an opportunity to respond immediately to the verdict.

Mr Guo, along with fellow directors Sam Lee and Ryan Hsu, were referred to ASIC by the liquidator for alleged breaches of company law. ASIC is investigating the allegations.

Mr Lee and Mr Xu were also involved in a cryptocurrency investment scheme known as HyperVerse, which was the subject of a Guardian Australia investigation and which defrauded investors around the world of US$1.89 billion. It is said that Guo is not believed to be involved in the HyperVerse project.


Mr Lee, who currently lives in Dubai, is facing charges in the US for his involvement in the Hyperverse scheme, which the US Securities and Exchange Commission has described as a “pyramid scheme and pyramid scheme”. He has not responded to the charges.

In a Federal Court judgment released on Wednesday, Mr Justice Button said the charges against Mr Guo were “very serious” and agreed to ban him from leaving Australia until August 20.

These included allegations of transferring investor funds for personal gain.

“ASIC also revealed that while Mr. Guo was a director, he transferred $2.6 million from the bank account where investor funds were held, with some of the money being applied to his personal mortgage account and personal bank account. “It was also pointed out,” the judgment said.

“ASIC also revealed that Mr. Guo held 23.11 Bitcoins, said to be worth approximately $1.8 million, owned by Blockchain Global and transferred them to a virtual currency wallet controlled by Mr. Guo on December 8, 2019. He also mentioned that he had done so.”

ASIC said Mr Guo was “the only person left in Australia closely involved in Blockchain Global’s operations” given that Blockchain Global’s other directors left Australia shortly after the bankruptcy. He claimed that there was.

“ASIC anticipates that the interviews and interrogations of Mr. Guo will be critical to the progress of the investigation, and as a result, we anticipate that brief evidence may be forwarded to the Director of Federal Public Prosecutions.'' the judgment stated.

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According to the ruling, ASIC expects it will take 12 months to investigate and submit a summary of the evidence to the DPP.

Among his reasons, Mr Button commented on apparent delays in the investigation into ASIC, which was launched on January 16 following Guardian Australia’s investigation into HyperVerse.

“It is not clear why an investigation was initiated when Blockchain Global failed. Nevertheless, the investigation, although in its early stages, is progressing steadily.”

ASIC said in a statement that it applied for the travel restriction order “out of concern that Mr. Guo may leave the country while the investigation continues.”

“As the hearing took place in Mr. Guo’s absence, Mr. Guo has not yet had the opportunity to respond to ASIC’s application or the basis on which ASIC asserts that the order is necessary.”

Mr Guo has so far not responded to Guardian Australia’s questions about the allegations against him in the liquidator’s report submitted to ASIC.

He has been asked to comment on the travel ban.

Source: www.theguardian.com