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Era of cheap credit coming to an end

first_img FEW people realise it yet but the era of cheap credit is about to come to an end. I’m not talking about central banks hiking rates or bond yields going up a few notches; rather, my contention is that over the next few years, powerful economic forces will permanently and drastically push up the cost of credit. This will have significant consequences for borrowers, who will suffer, as well as savers, who will benefit.Investment is financed out of savings, and the world is about to go on a capex binge, thanks to Asia. This increased demand for investable funds will push up the rate at which they are made available – and hence force up interest rates. This is a significant change for the world economy, albeit one which would already have become apparent by now in the absence of the recession. Since the 1970s, investment fell from 26.1 per cent of world GDP to 20.8 per cent in 2002, entirely as a result of reduced capital expenditure in rich countries. This was due to the end of the post-war reconstruction boom; a deterioration in the economic environment, with higher and more variable inflation; higher taxes on capital and incomes; a drop in the price of capital goods, especially IT; and a reduction in the share of national income made up of investment-intensive industries such as manufacturing. But while the West was consuming more and investing less, the rest of the world was at a different phase of its development. The global rate started to increase again, hitting 23.7 per cent in 2008, led by a boom in capex in Asia, Latin America and Africa. The figure then slumped back to 21.8 per cent of the world’s GDP last year as a result of the global recession, before starting to recover this year. Cyclical issues aside, we are at the start of another enormous wave of capital expenditure as poor countries become rich and adopt modern technologies, living standards, housing and economies. McKinsey & Co, the management consultancy, argues in Farewell to Cheap Capital?, a fascinating report published by its global institute, that this massive spending by emerging market economies means that the investment rate will keep on rising. By 2020, global investment demand could hit the sorts of levels we last saw when Europe and Japan were reconstructing themselves after the ravages of the Second World War. It could exceed 25 per cent of GDP by 2030, McKinsey predicts.At the same time, global savings will start to fall. China’s savings rate hit 53 per cent of GDP two years ago; this won’t last, just as Japan, Korea and Taiwan saw their savings rates drop as they developed. An ageing population will also cut savings rates, as pensioners draw down reserves. All of which means that it will soon cost more to borrow. One of the drivers of the recent unsustainable boom was excessively low long-term interest rates caused by huge demand for government debt by Asian governments, which created a false market in bonds by investing a large chunk of their national savings in them. Dearer credit will make such bubbles less likely – but it also means that the rate of return required to make an investment project viable will rise, and many currently economically sound ventures will no longer happen, especially in the West. Consumers – especially 20 and 30-somethings in the UK and the US, many of whom assume that money will remain cheap for ever – are in for a nasty shock. [email protected] More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Show Comments ▼ whatsapp whatsapp Era of cheap credit coming to an end Thursday 16 December 2010 9:12 pm Share KCS-content Tags: NULLlast_img read more

Russian firms look to raise cash in City

first_img Russian firms look to raise cash in City whatsapp RUSSIAN state-owned bank VTB has become the latest business from the country said to be planning a listing in London.The bank is thought to be planning a $3.7bn (£2.3bn) initial public offering (IPO), as a series of firms from the country look to raise cash on the London Stock Exchange. The Russian state stepped in to purchase part of the bank, which is run by chairman and chief executive Andrey L Kostin, during the height of the financial crisis, and is now looking to sell between eight and 10 per cent of its 77 per cent holding. And Russian steel pipe maker Chelpipe will this week announce a price range for its floatation, after it first revealed its intention to list in London earlier this month.Advised by JP Morgan, the firm is looking to raise up to $1bn with a 40 per cent sale of the company.Mining firm Russian Copper is also said to be preparing for a fundraising in London, which could value the firm at around $3bn.The firm is looking to issue global depository receipts (GDRs) in an effort to raise $500m-$750m. Credit Suisse and Deutsche Bank are said to be leading the listing. Analysts have said Russian companies could raise around $30bn in 2011 given the right market conditions, up from $5.5bn in 2010, as firms look to London to raise cash.Several more industrial firms have also recently announced an intention to list in London or have priced offerings.Steel giant Severstal last week announced the price range for the listing of its Nord Gold mining unit.The company, majority owned by billionaire Alexey Mordashov, hopes to raise as much as £811m with a 25 per cent share issuance.Russian pump manufacturer HMS Hydraulic and pig iron producer Koks also announced their intention to list in London earlier this month. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Ads Sunday 30 January 2011 10:59 pm KCS-content center_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Share Show Comments ▼ Tags: NULLlast_img read more

HAVE YOU CUT YOUR SPENDING BECAUSE OF THE VAT RISE?

first_imgMonday 7 February 2011 8:39 pm More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com whatsapp HAVE YOU CUT YOUR SPENDING BECAUSE OF THE VAT RISE? Show Comments ▼ KCS-content center_img whatsapp Share www.RateSetter.com Customer Phoneline: 08442490115ALLISTER AUGUSTIN | NOMURA“I’ve got a quite a big family, and we have noticed an extra £15 or so on the shopping every week, although this is not entirely down to the VAT rise. The rise is one of many things that’s costing me.”JOHN LAUDRUM | RFIB GROUP“I have spent a bit less because of it. I don’t buy as many DVDs or treats. I think the government should lower the VAT and focus on helping companies to grow more and get more people into work.”STEWART GABRIEL | ROCELA“I have definitely noticed prices going up, but it’s a combination of things that make it more expensive. We are probably spending less, because of the wider context of the recession.” Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamUndoBetterBe20 Stunning Female AthletesBetterBeUndo Tags: NULLlast_img read more

Africa Prudential Registrars Plc (AFRIPR.ng) Q12018 Presentation

first_imgAfrica Prudential Registrars Plc (AFRIPR.ng) listed on the Nigerian Stock Exchange under the Financial sector has released it’s 2018 presentation results for the first quarter.For more information about Africa Prudential Registrars Plc (AFRIPR.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Africa Prudential Registrars Plc (AFRIPR.ng) company page on AfricanFinancials.Document: Africa Prudential Registrars Plc (AFRIPR.ng)  2018 presentation results for the first quarter.Company ProfileAfrica Prudential Registrars Plc is a financial services institution in Nigeria providing share registration services for investors, businesses and institutions. The company offers a range of other services which includes maintaining registers, paying dividends and interest on investments, issuing shares and debenture certificates, managing shareholder enquiries, managing scrip and right issues for clients as well as IPOs, Right Issues and State government bonds. Africa Prudential Registrars are leaders in the field of automation and have pioneered innovative solutions that have transformed how shares are managed on the African continent. The company’s head office is based in Lagos, Nigeria. Africa Prudential Registrars Plc is listed on the Nigerian Stock Exchangelast_img read more

CIEL Limited (CIEL.mu) Q12020 Interim Report

first_imgCIEL Limited (CIEL.mu) listed on the Stock Exchange of Mauritius under the Industrial holding sector has released it’s 2020 interim results for the first quarter.For more information about CIEL Limited (CIEL.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the CIEL Limited (CIEL.mu) company page on AfricanFinancials.Document: CIEL Limited (CIEL.mu)  2020 interim results for the first quarter.Company ProfileCIEL Limited is an investment company headquartered in Ebene, Mauritius. The company operates in the following segments: agriculture and property, financial services, hotels and resorts, textiles, and healthcare businesses. The activities of the company are spread out over five countries that include Mauritius, Madagascar, Asia, Maldives and South Africa, just to name a few. CIEL Limited is listed on the Stock Exchange of Mauritius.last_img read more

Ikeja Hotel Plc (IKEJAH.ng) Q12020 Interim Report

first_imgIkeja Hotel Plc (IKEJAH.ng) listed on the Nigerian Stock Exchange under the Tourism sector has released it’s 2020 interim results for the first quarter.For more information about Ikeja Hotel Plc (IKEJAH.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Ikeja Hotel Plc (IKEJAH.ng) company page on AfricanFinancials.Document: Ikeja Hotel Plc (IKEJAH.ng)  2020 interim results for the first quarter.Company ProfileIkeja Hotel Plc is a hotel development and management company with direct or indirect ownership of Sheraton Lagos Hotel, Sheraton Abuja Hotel and Federal Palace Hotels & Casino. The company targets the leisure, business and convention markets in Opebi, Ikeja and Lagos. Sheraton Lagos Hotel has 340 guest rooms and an impressive array of conferencing and recreational facilities, making it one of the largest hotels in Nigeria. Sheraton Abuja Hotel has 575 rooms and conference, restaurants and recreational facilities. Sun International’s Federal Palace Hotel & Casino is a luxury 5-star hotel conveniently located in the heart of Victoria Island’s commercial district and boasts luxury accommodation, a casino, conference facilities and an array of restaurants, bars and recreational facilities. Established in 1972 and formerly known as Properties Development Limited, the company changed its name to Ikeja Hotel Limited in 1980. The company’s head office is in Lagos, Nigeria. Ikeja Hotel Plc is listed on the Nigerian Stock Exchangelast_img read more

Here’s why I’d buy cheap stocks right now and hold them to 2025

first_img Andy Ross | Friday, 19th February, 2021 Andy Ross owns shares in National Grid, Persimmon and Merchants Trust. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Click here to claim your free copy of this special investing report now! See all posts by Andy Ross 5 Stocks For Trying To Build Wealth After 50 Image source: Getty Images. Markets around the world are reeling from the coronavirus pandemic…And with so many great companies trading at what look to be ‘discount-bin’ prices, now could be the time for savvy investors to snap up some potential bargains.But whether you’re a newbie investor or a seasoned pro, deciding which stocks to add to your shopping list can be daunting prospect during such unprecedented times.Fortunately, The Motley Fool is here to help: our UK Chief Investment Officer and his analyst team have short-listed five companies that they believe STILL boast significant long-term growth prospects despite the global lock-down…You see, here at The Motley Fool we don’t believe “over-trading” is the right path to financial freedom in retirement; instead, we advocate buying and holding (for AT LEAST three to five years) 15 or more quality companies, with shareholder-focused management teams at the helm.That’s why we’re sharing the names of all five of these companies in a special investing report that you can download today for FREE. If you’re 50 or over, we believe these stocks could be a great fit for any well-diversified portfolio, and that you can consider building a position in all five right away. Our 6 ‘Best Buys Now’ Sharescenter_img Over the next four years, I anticipate adding quite a few cheap stocks, otherwise known as value shares, into my investment portfolio. I already hold a few, such as National Grid and Persimmon, as well as the investment trust, Merchants Trust.Value shares tend to perform better during any period of inflationAs a general rule, value stocks perform better in high inflation periods and growth stocks perform better during low inflation.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Some experts are warning inflation will exceed 2% by the end of this year. That would be a big rise from now and would likely have an effect on the performance of growth shares versus value shares.Overall, it’s unclear if, or when, inflation could rise significantly. What is more clear is that cheap stocks are a better hedge if it does occur.Cheap stocks provide more margin of safetyGiven there may be a reversal in the fortune of many growth shares, I’d plump for cheap stocks because there’s a greater margin of safety.Buying shares with price-to-earnings ratios that are below 15 – a level that is often seen as separating undervalued shares from the rest – offers some protection against any downgrade in outlook or earnings. Shares on sky-high valuations should, and often do, fall much harder on any bad news.I think Benjamin Graham, the inspiration for legendary investor Warren Buffett, was correct to say valuation and a margin of safety are very important.Cheap shares have underperformedDespite the low valuations, cheap shares have underperformed growth shares in the low-interest rate, low-inflation economic conditions we’ve nearly continuously had since the financial crash. The stock market crash of 2020 still means there are opportunities to pick up cheap UK shares. For me, the historical underperformance of value shares versus more racy and highly-rated growth stocks isn’t off-putting. While I may add some modestly valued growth stocks to my portfolio, many of my new stock picks over the next four years to 2025 will be cheap stocks.The thing to watch out for when it comes to investing in cheap shares though is, value traps. This is where a share appears cheap but actually, the valuation is low because the business is worsening. That could well mean that the share price will fall much further. A low P/E doesn’t in itself make a share worth buying. I’d want to get a bigger picture and understanding before committing my money to a value share. That’s why I’d make sure to look at revenue and operating profit growth and how a company compares to the competition. I’d also look at whether the industry is growing or facing challenges. There are also many other considerations to take into account but these serve as a starting point. The bottom line is, as always, I’ll research shares thoroughly before investing, even if they are a cheap stock. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Simply click below to discover how you can take advantage of this. Here’s why I’d buy cheap stocks right now and hold them to 2025 Enter Your Email Address Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee.last_img read more

Thomascook.com sponsors UNICEF

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Advertisement Thomascook.com will donate £1 for every package holiday booked online to UNICEF in a three-year partnership deal as an official sponsor of the charity.  18 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Thomascook.com sponsors UNICEF Howard Lake | 1 February 2001 | News read more

Steak Digital to handle SEO for merged age charities

first_img Advertisement  42 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Steak Digital to handle SEO for merged age charities Tagged with: Consulting & Agencies Digital Howard Lake | 25 March 2009 | News  41 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Search-inspired communications agency Steak has been appointed as the search engine optimisation service (SEO) consultant for the charity that will be formed by the merger of Help the Aged and Age Concern England.Steak, which works with V inspired, ActionAid and TZ Kids, will advise the organisation on how to retain search engine rankings and maintain visibility in natural search listings.Steak begin by carrying out an audit of the charities’ current sites assessing visibility and traffic, content and link profilesbefore creating a migration strategy.It will ensure that the new site maintains current natural search rankings by mapping permanent URL redirects to the most appropriate landing pages and consolidating key site content.Anna Slosmanis, online marketing manager at Help the Aged, said: “Creating a new digital presence for the organisation is an exciting challenge, part of which is ensuring that we retain the SEO equity held by existing sites”.Kulraj Singh Salh, Steak’s director of natural search, added: “Taking the easy approach and simply redirecting the user to the homepage will result in a poor user experience and, as aresult, a high bounce rate and waste in natural search traffic. This is why the mapping and content consolidation is vital”.www.steakdigital.co.uk About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

Black Panther in struggle: The continued imprisonment of Russell Maroon Shoatz

first_imgSince 1972 — nearly half a century ago — Russell Maroon Shoatz has languished in a prison cell built on stolen land, poisoned and irradiated by the fossil fuel industry. A Black Panther Party member and soldier in the Black Liberation Army, Shoatz was falsely accused of killing a cop in the Cobbs Creek area of Philadelphia in 1970. His family, pillars of their community, have tirelessly fought for his release and carried Maroon’s revolutionary message through the years, whether in solidarity with MOVE, Mumia Abu-Jamal, George Floyd, Walter Wallace Jr., or other struggles demanding justice.After 48 years of imprisonment, Shoatz, 77, is currently held at SCI Dallas in Luzerne County, Penn. In 2015 the state Department of Health found the cancer rate there was “significantly higher than expected.” Shoatz survived prostate cancer only to develop Stage Four colon cancer in 2019. In November, he tested positive for COVID-19.Shoatz described conditions in the prison COVID unit in a recent phone conversation. “I’m looking at 22 [people] who look like [they’re in] a refugee camp. For real. And they got one toilet.“I’m supposed to be in a single cell. I reported to the nurses. I reported to the guards. Everyone says they can’t do nothin’ about it. They might not. But that’s not my concern. I got to be able to get to the toilet. … I can’t be sick, messin’ on myself.“I’m trying to be patient with it.”The utter horror and indignity of the situation Shoatz is enduring shocks the conscience. To hear it firsthand, from an elder ill with a life-threatening disease, is even more painful. But it must be heard. Prison conditions kill peopleA recording of Shoatz’s call was broadcast at a Dec. 11 on-line teach-in for Russell Maroon Shoatz, “We Are Maroon!” hosted by Kempis Ghani Songster and Lavinia “Vee” Davis. They emphasized the fact that prison conditions always have created illness, even before the new coronavirus was brought in by guards – immediately sweeping through the population of incarcerated workers.MOVE 9 member Mike Africa, Sr., spoke at the event: “If you’re in a state like Maroon is [with cancer], it’s especially crucial that he gets the nourishment he needs to battle that disease. That they don’t give it to him is just some cruel stuff. And they know it.“I myself became anemic in there trying to eat. And I was working in the kitchen and I still became anemic! Because I wasn’t getting the nutrition I needed.”Emphatic in MOVE’s philosophy, which is centered on life and the protection of living creatures, is physical fitness and maintaining a healthy, just diet. Africa Sr., like many MOVE members, is an avid athlete who, Mumia Abu-Jamal said, “could run like others walk.” But even the MOVE 9 have experienced life-threatening health problems as the result of decades incarcerated in toxic Pennsylvania prisons.Chuck Africa, the last of the MOVE 9 members released in early 2020, contracted cancer after 42 years in prison. Prison conditions killed both Merle Africa and Phil Africa before they were eligible for parole. Delbert Orr Africa died in June 2020, only six months after his release.Mumia Abu-Jamal has nearly had his life stolen by the prison-industrial complex many times. After being shot by police and then brutally beaten in 1981, he was one of hundreds of people incarcerated in Pennsylvania to contract hepatitis C, a disease running rampant in the state’s prisons. Finally, in 2017, after a protracted legal battle won by Abu-Jamal and supporters, the state’s Department of Corrections was forced to provide hep C treatment to prisoners in its custody. Abu-Jamal has also suffered with cirrhosis of the liver, various skin rashes, cataracts and other issues. Supporters have waged massive political and legal struggles to get even basic treatment for each of these symptoms.Framing up revolutionariesEvery prisoner mentioned here is a Black political activist framed by the Philadelphia Police Department during or immediately after the tenure of Mayor Frank Rizzo. Russell Shoatz, framed for killing a cop in 1972; Chuck, Mike, Debbie, Phil, Merle, Janet, Janine, Delbert, and Eddie Africa – all framed for killing a cop in 1978; Mumia Abu-Jamal, framed for killing a cop in 1981. Ramona Africa, who contracted lymphoma after serving seven years, was charged in 1985 with “rioting” for the crime of surviving the May 13 police bombing of  Osage Avenue in the city.To frame Black activists, Frank Rizzo used a well-known recipe – blaming revolutionaries for the death of cops. Marxist-Leninist political theorist George Jackson, who co-founded the Black Guerrilla Family, was accused of killing a prison guard after his transfer from San Quentin to Soledad prison in 1970. Black Panther members Albert Woodfox and Herman Wallace were falsely accused of killing an Angola prison guard in 1972, and then held in solitary confinement for 40 years — the longest known case of this torture method in U.S. history. “Cop killing” was the charge used to take out Maroon’s Black Liberation Army comrades Sekou Odinga and Mutulu Shakur, in separate incidents in 1981. In 2000 the state finally got its hands on Imam Jamil al-Amin (the former Black Panther H. Rap Brown) by blaming him for shooting a cop.Legal and extra-legal executionsHistory proves that the capitalist state ruthlessly eliminates any challenge to its power and authority. After the Civil War, in the fascist counterrevolution against Reconstruction, the re-unified U.S. capitalist class empowered the Ku Klux Klan, law enforcement and local white property owners to target and kill anyone organizing for Black power in the U.S. South. By the mid-20th century, the organized labor movement in the U.S. – once a militant front against imperialism and exploitation – had been quite literally beaten into submission by mercenary Pinkertons, cops and McCarthyite persecution. In the 1960s and 70s, the political police force known as the Federal Bureau of Investigation identified the Black liberation struggle and the Black Panther Party as the greatest domestic threat to the U.S. empire, as well as targeting the American Indian Movement and those it identified as its leaders.When assassination is not an option, the capitalist state will carry out executions in the many prison concentration camps it operates for this purpose. During the final days of the Trump administration, the U.S. federal government has revived the death penalty and is killing federal prisoners at a sickening rate. Other executions have been stopped by legal challenges or political pressure – as in the case of Mumia Abu-Jamal, rescued from the death chamber through the power exerted by millions of people who took to the streets internationally.But imprisonment itself is a form of execution, a cruel and torturous and gradual method. The toxic, unsanitary conditions in prisons mean that the continued imprisonment of Russell Maroon Shoatz and other human beings is an atrocity. This is an even more urgent truth during the coronavirus pandemic. In a system of mass incarceration that reportedly holds 2.5 million people in cages on any given day, over 275,000 U.S. prisoners are reported to have contracted COVID-19. That’s ten times the infection rate worldwide.To say that U.S. prisons are concentration camps is no exaggeration – it is historical reality. Mass death through a policy of willful neglect in U.S. prisons is written all over this moment. It compares to the Spanish imperial Reconcentration Policy in Cuba, when 30 percent of those forced into enclosures died, to the U.S.-operated reconcentrados or “zones of protection” in the Philippines, and to the Israeli occupation of Gaza.last_img read more