Six things from the last few weeks you should be really angry about

Forget Snowden.

For those people who prefer to live their lives in a state of permanent opposition to pretty much everything, Edward Snowden’s decision to leak classified information through The Guardian newspaper about US and UK government internet surveillance techniques has been manna from heaven. No matter the rights and wrongs of Snowden’s actions it keeps the idea going that there is another ‘Watergate’ moment out there if only we could find it.

But to me, if you really do want to live your life in a perpetual state of internet-based emotional froth, then there is plenty enough truly shocking information out there, released every day, to have you bouncing up and down on your chosen hand-held or desk-based device whilst punching the air and exclaiming "I told you so!!!!" without you necessarily having to go down the road of believing that the moon landings were fake. 

So here are six things from the past two weeks you should really be puce with indignation about, but probably aren’t.

  1. Venezuela is falling to pieces Inflation is nearly 50 per cent, driven mainly by food prices, and President Nicholas Maduro is slipping back into old school South American Marxist language. ‘Yankees go home’ he proclaimed in a television broadcast last week. Rich Venezuelans have reacted to the lack of US dollars by going to the US and borrowing currency on credit cards and bringing it home to buy goods. The economic chaos is worsening as Venezuela increases its dependence on oil – a suicidal policy in itself.  But it is the urban poor who have been hit hardest as food prices rocket. The last time this happened, in 1989, 2,000 people died in the ensuing "Caracazo".
  2. Follow the Yellen Brick Road Job creation in the US is trundling along at a predictable pace and by the end of April 2014, at the current trajectory, all of the jobs lost in the 2007-2008 melt down will have been regained. Should Janet Yellen survive the process of becoming the Chair of the Federal Reserve then her first task may be to consider whether to signal the end of US pump priming known as Quantitative Easing. It may have already occurred by then of course but given the appalling mess that the Fed made of their last attempt to test the water in the disastrous May/July period this year, sending mortgage interest rates up by 1.5 per cent and stopping bank lending in its tracks, you would expect them to be a bit clearer next time.
  3. The financial crisis has moved to its fourth stage It started in personal finances, moved into the banks, caused local government to contract and now finally it is reaching national governments. Watching the US go through the ritualised partisan wrangling over increasing the debt ceiling reminds us that the loudest echoes of the financial crisis have not faded, we have just been deafened to them. This new form of democracy – one with a gun to its own head – seems to be saying "Give me what I want or I’ll shoot" to the financial markets. One day someone will miscalculate and this will go very wrong. 
  4. The markets are calmer when there is no information being released It’s been rather pleasant doing this job in the past couple of weeks. Days go by and nothing major happens because many of the data gathering and releasing departments in the US are shut. Stock markets, bond markets and currencies still move but with nothing like the ferocity seen in the past. It is a reminder of how reactionary markets and news sensitive the system has become. It almost feels like an argument to reduce news flow rather ‘increase transparency’ which is the modern mantra and one that appears to do little but "increase anxiety".
  5. Help to Buy has nothing to do with helping people to buy houses The UK needs another housing bubble like it needs a hole in the head. The fact is the UK banking system is shrinking and no capitalist system based on borrowed money can propel itself without a fully functioning banking system. If you add together the outstanding loans of Barclays, the Royal Bank of Scotland and Lloyds then you can see that although deposits continue to rise, the value of loans is declining. To be fully functioning, systems like ours need both trust and confidence which just so happen to be the two major ingredients missing from our society. Help to Buy is a psychological scheme designed to get people back into the idea of borrowing money from banks.
  6. The Bank account of China swelled to USD3.7trn last month Whilst we have been tightening our belts as part of the latest of our episodic crises, China has continued on with its 30-year plan.  Their collective bank account swelled by another $165bn last month. UK Chancellor George Osborne has announced he is going to relax visa application rules to make it easier for Chinese visitors to come to the UK  - you can understand why given our own collective bank account is empty.

I shall now return to my hollowed out volcano somewhere in the South Pacific to discuss the future with John F Kennedy, Jimmy Hoffer and Lord Lucan and hope the US and UK governments aren’t hacking my router. It would be embarrassing to know they can see me catching up on "Strictly – it takes two’".

Photograph: Getty Images

Head of Fixed Income and Macro, Old Mutual Global Investors

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Corbyn's supporters loved his principles. But he ditched them in the EU campaign

Jeremy Corbyn never wanted Remain to win, and every gutless performance showed that. Labour voters deserve better. 

“A good and decent man but he is not a leader. That is the problem.” This was just-sacked Hilary Benn’s verdict on Jeremy Corbyn, and he’s two-thirds right. Corbyn is not a leader, and if that wasn’t obvious before the referendum campaign, it should be now. If the Vice documentary didn’t convince you that Corbyn is a man who cannot lead – marked by both insubstantiality and intransigence, both appalling presentation and mortal vanity – then surely his botched efforts for Remain must have.

But so what. Even Corbyn’s greatest supporters don’t rate him as a statesman. They like him because he believes in something. Not just something (after all, Farage believes in something: he believes in a bleached white endless village fete with rifle-toting freemen at the gates) but the right things. Socialist things. Non-Blairite things. The things they believe in. And the one thing that the EU referendum campaign should absolutely put the lie to is any image of Corbyn as a politician of principle – or one who shares his party’s values.

He never supported Remain. He never wanted Remain to win, and every gutless performance showed that. Watching his big centrepiece speech, anyone not explicitly informed that Labour was pro-Remain would have come away with the impression that the EU was a corrupt conglomerate that we’re better off out of. He dedicated more time to attacking the institution he was supposed to be defending, than he did to taking apart his ostensive opposition. And that’s because Leave weren’t his opposition, not really. He has long wanted out of the EU, and he got out.

It is neither good nor decent to lead a bad campaign for a cause you don’t believe in. I don’t think a more committed Corbyn could have swung it for Remain – Labour voters were firmly for Remain, despite his feeble efforts – but giving a serious, passionate account of what what the EU has done for us would at least have established some opposition to the Ukip/Tory carve-up of the nation. Now, there is nothing. No sound, no fury and no party to speak for the half the nation that didn’t want out, or the stragglers who are belatedly realising what out is going to mean.

At a vigil for Jo Cox last Saturday, a Corbyn supporter told me that she hoped the Labour party would now unify behind its leader. It was a noble sentiment, but an entirely misplaced one when the person we are supposed to get behind was busily undermining the cause his members were working for. Corbyn supporters should know this: he has failed you, and will continue to fail you as long as he is party leader.

The longer he stays in office, the further Labour drifts from ever being able to exercise power. The further Labour drifts from power, the more utterly hopeless the prospects for all the things you hoped he would accomplish. He will never end austerity. He will never speak to the nation’s disenfranchised. He will achieve nothing beyond grinding Labour ever further into smallness and irrelevance.

Corbyn does not care about winning, because he does not understand the consequences of losing. That was true of the referendum, and it’s true of his attitude to politics in general. Corbyn isn’t an alternative to right-wing hegemony, he’s a relic – happy to sit in a glass case like a saint’s dead and holy hand, transported from one rapturous crowd of true believers to another, but somehow never able to pull off the miracles he’s credited with.

If you believe the Labour party needs to be more than a rest home for embittered idealists – if you believe the working class must have a political party – if you believe that the job of opposing the government cannot be left to Ukip – if you believe that Britain is better than racism and insularity, and will vote against those vicious principles when given a reason to; if you believe any of those things, then Corbyn must go. Not just because he’s ineffectual, but because he’s untrustworthy too.

Some politicians can get away with being liars. There is a kind of anti-politics that is its own exemplum, whose representatives tell voters that all politicians are on the make, and then prove it by being on the make themselves and posing as the only honest apples in the whole bad barrel. That’s good enough for the right-wing populists who will take us out of Europe but it is not, it never has been, what the Labour Party is. Labour needs better than Corbyn, and the country that needs Labour must not be failed again.

Sarah Ditum is a journalist who writes regularly for the Guardian, New Statesman and others. Her website is here.