True romance

Despite her fearsome reputation, Lady Gaga knows how to charm a crowd.

By now, even the most gentle readers among you probably have heard of Lady Gaga, stage name of the 24-year-old New Yorker Stefani Germanotta. In the past 18 months, she has sold an astonishing 12 million albums worldwide (no mean feat in these days of declining record sales), become the darling of both the broadsheets and the tabloids, and has just added yet another British date to her Monster Ball tour.

This week, she played two nights at London's O2 Arena. I went to see what is it about Gaga that attracts her Little Monsters -- the provocative, colourfully clobbered young fans that worship at her altar -- as well as the audience of conventional rock fans, and mothers and daughters, that make up her shows.

At the end of evening, I had a theory. At the same time as Gaga manages to shock and provoke people with her outlandish behaviour, she simultaneously cossets and welcomes the people who follow her. Also, unlike Madonna, the pop predecessor to whom she is always compared, she tells her audience to be themselves -- and that peculiarness is part of who we really are.

Her live show, for example, addresses mortality (which has suddenly taken on deeper resonance this week since rumours surfaced about her being diagnosed with lupus). There is one striking routine in which Gaga's dancers tear at her body, leaving her neck and chest covered in blood, which she doesn't remove. She also stops stock-still after songs for 20 seconds at a time, breathing heavily, as if issuing a death rattle.

Stage oddity

Even in her skimpiest outfits, Gaga foregrounds ugliness rather than prettiness, which shows us that her presentation is nothing to do with sexiness, and everything to do with the acceptance of weirdness. Among contemporaries of hers like Christina Aguilera and Beyoncé, as well as Madonna, this is unique.

Then there is Gaga's personal way of talking to her fans on stage. She talks at length about what their love for her means to her, her speeches sounding born of a hunger for friendship and acceptance, rather than a desire for dollar bills. She also tells her fans things they want to hear, but far too few pop stars tell them.

"You don't need money or plastic surgery to be a star," she says. "Reject the idea of not being good enough, thin enough, blonde enough. Like every motherfucker told me."

Whether they are straight or gay, black or white, anarchic or everyday, she tells her fans constantly to accept their odd qualities.

At the Monster Ball, Gaga says, everyone can be free.

There are other things that make Lady Gaga a great pop star, that people of all ages and backgrounds can see. There are her musical talents: the piano-playing with her fingers as well as her stiletto boots; the way she can make her voice growl and soar as well as soothe.

And there are songs like "Bad Romance", the set's dazzling encore. A five-minute epic that exposes the agonies of lust, and culminates in the most melancholic vocal in the pop canon for years -- "I don't want to be friends", she wails, desperately hinting at those times in our lives when we have all craved the opposite -- it reveals the high, dark drama in our real worlds. This is what Lady Gaga is all about. Long may we all be her monsters.

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The Autumn Statement proved it – we need a real alternative to austerity, now

Theresa May’s Tories have missed their chance to rescue the British economy.

After six wasted years of failed Conservative austerity measures, Philip Hammond had the opportunity last month in the Autumn Statement to change course and put in place the economic policies that would deliver greater prosperity, and make sure it was fairly shared.

Instead, he chose to continue with cuts to public services and in-work benefits while failing to deliver the scale of investment needed to secure future prosperity. The sense of betrayal is palpable.

The headline figures are grim. An analysis by the Institute for Fiscal Studies shows that real wages will not recover their 2008 levels even after 2020. The Tories are overseeing a lost decade in earnings that is, in the words Paul Johnson, the director of the IFS, “dreadful” and unprecedented in modern British history.

Meanwhile, the Treasury’s own analysis shows the cuts falling hardest on the poorest 30 per cent of the population. The Office for Budget Responsibility has reported that it expects a £122bn worsening in the public finances over the next five years. Of this, less than half – £59bn – is due to the Tories’ shambolic handling of Brexit. Most of the rest is thanks to their mishandling of the domestic economy.

 

Time to invest

The Tories may think that those people who are “just about managing” are an electoral demographic, but for Labour they are our friends, neighbours and the people we represent. People in all walks of life needed something better from this government, but the Autumn Statement was a betrayal of the hopes that they tried to raise beforehand.

Because the Tories cut when they should have invested, we now have a fundamentally weak economy that is unprepared for the challenges of Brexit. Low investment has meant that instead of installing new machinery, or building the new infrastructure that would support productive high-wage jobs, we have an economy that is more and more dependent on low-productivity, low-paid work. Every hour worked in the US, Germany or France produces on average a third more than an hour of work here.

Labour has different priorities. We will deliver the necessary investment in infrastructure and research funding, and back it up with an industrial strategy that can sustain well-paid, secure jobs in the industries of the future such as renewables. We will fight for Britain’s continued tariff-free access to the single market. We will reverse the tax giveaways to the mega-rich and the giant companies, instead using the money to make sure the NHS and our education system are properly funded. In 2020 we will introduce a real living wage, expected to be £10 an hour, to make sure every job pays a wage you can actually live on. And we will rebuild and transform our economy so no one and no community is left behind.

 

May’s missing alternative

This week, the Bank of England governor, Mark Carney, gave an important speech in which he hit the proverbial nail on the head. He was completely right to point out that societies need to redistribute the gains from trade and technology, and to educate and empower their citizens. We are going through a lost decade of earnings growth, as Carney highlights, and the crisis of productivity will not be solved without major government investment, backed up by an industrial strategy that can deliver growth.

Labour in government is committed to tackling the challenges of rising inequality, low wage growth, and driving up Britain’s productivity growth. But it is becoming clearer each day since Theresa May became Prime Minister that she, like her predecessor, has no credible solutions to the challenges our economy faces.

 

Crisis in Italy

The Italian people have decisively rejected the changes to their constitution proposed by Prime Minister Matteo Renzi, with nearly 60 per cent voting No. The Italian economy has not grown for close to two decades. A succession of governments has attempted to introduce free-market policies, including slashing pensions and undermining rights at work, but these have had little impact.

Renzi wanted extra powers to push through more free-market reforms, but he has now resigned after encountering opposition from across the Italian political spectrum. The absence of growth has left Italian banks with €360bn of loans that are not being repaid. Usually, these debts would be written off, but Italian banks lack the reserves to be able to absorb the losses. They need outside assistance to survive.

 

Bail in or bail out

The oldest bank in the world, Monte dei Paschi di Siena, needs €5bn before the end of the year if it is to avoid collapse. Renzi had arranged a financing deal but this is now under threat. Under new EU rules, governments are not allowed to bail out banks, like in the 2008 crisis. This is intended to protect taxpayers. Instead, bank investors are supposed to take a loss through a “bail-in”.

Unusually, however, Italian bank investors are not only big financial institutions such as insurance companies, but ordinary households. One-third of all Italian bank bonds are held by households, so a bail-in would hit them hard. And should Italy’s banks fail, the danger is that investors will pull money out of banks across Europe, causing further failures. British banks have been reducing their investments in Italy, but concerned UK regulators have asked recently for details of their exposure.

John McDonnell is the shadow chancellor


John McDonnell is Labour MP for Hayes and Harlington and has been shadow chancellor since September 2015. 

This article first appeared in the 08 December 2016 issue of the New Statesman, Brexit to Trump