The Christian Ethics of F…:
Newcomers to the forex trading system may be asking t
Whatever happened to the sound money, freedom loving economist that was Stephen Harper? It seems his masters have told him which way to swing his political sword, indeed.
Excerpts from Stephen Harper’s 1991 master’s degree thesis
“Minority governments show no particular tendency to fiscally irresponsible
behaviour, contrary to some theoretical predictions.”
“A general observation would be that, while there is no evidence of a ‘chronic deficit’ tendency in Canada historically, neither is it clear how such a problem is resolved once it occurs.”
“The record indicates that particularly activist Keynesian policy has been rare in the postwar period. The results indicated that it should remain so.”
It will take far more money than Stephen Harper is providing to get the hundreds of thousands who have lost their jobs back to work. Money is needed for more nurses, teachers, doctors, engineers, construction workers, business managers, researchers, office personnel, factory workers and others. Hiring these people, or providing a stipend so that they can take the training they need, immediately puts the money they receive in circulation in the community. Businesses will sell their services or products and hire others.
In addition to hiring personnel, money is needed for affordable housing, schools, colleges, infrastructure, roads, bridges, equipment and support to help new businesses get started to replace those which have closed down.
Where is all this money to come from? The government is already forecasting a deficit of $63-B to be added to the existing debt of about $500-B. Many are concerned about the huge debt being passed on to future generations, and the government has used the debt and interest as an excuse for not doing more. Interest on public debt in Canada already amounts to $2000 for every man, woman and child, or $10,000 a year for a family of five.
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As things stand, the money will be borrowed from the private sector. If that is not changed we won’t have enough money to do what needs to be done and we will spend more of our income on public debt interest. More importantly, it adds to the control that lenders have over government decisions. As we all know, he who pays the piper calls the tune.
The government has its own bank, the Bank of Canada where it can borrow effectively interest free. Not only would this lower taxes for Canadians and Canadian business, it would also reduce the control of lenders and make it possible to do what needs to be done to get people back to work.
Only with massive investment will the goals outlined by Ken Georgetti and the CLC be achieved, but this won’t happen if the government does not borrow from its own Bank to finance this investment. This means significantly increasing the share of government debt held by the Bank of Canada and reducing the share held by the private sector. No government is going to go down this road without a very angry and well informed electorate pushing them to do it – whether it be Conservative, Liberal or NDP. That is why the CLC initiative to hold meetings all across the country is so important.
The message is very simple. Borrow from our own bank, not the commercial banks.
See the video on “How to fix the economy” by Michael Hudson – renegade economist! Some of you may have seen it already. If not, it is a must see.
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Richard Priestman
Committee on Monetary and Economic Reform, Kingston Chapter
“Our deficits will be large, but they will be temporary,” Harper told Quebec municipal leaders gathered for an annual convention. “In fact, in the short term, they will be as large as they have to be to help us weather this recession. As a country, we can afford it. But only if these deficits are temporary and our stimulus spending ends when the recession ends.”
“The infrastructure funds are there, and now all levels of government have to work together and get these projects done, and get them done quickly,” Harper said. “We don’t have any time to lose, because as you know, time is money . . . We must role up our sleeves so that the projects start in the coming weeks and the coming months.”
Your spam comments on the Globe and Mail today make you look like a wacko-fringe community. Just thought I would let you know. Real media outlets do not spam other media outlets. This makes mature Christians and serious Economists look like they are on the same level as conspiracy theorists and porno sites.
Dear Katherine,
Thanks for the comments.
It may look whacko to you, but it is all based on fact. “Real media outlets” do not tell you the truth about anything. Once you realize that your children will be in a better spot in life. Unfortunately you have been brainwashed.
There will be another rally and the Dow and TSX and world indices will likely reach new highs in the next two to three years.
There has been so much money printed in the last two years that if we do not have out of control inflation we will likely see another bubble. Add to this a Fed and global central banks that have dropped their window rate to unheard of low levels and you have the making of yet another credit induced bubble. That is the only way fiat currency works.
Money is like water and it has to flow somewhere. The Global central banks have unleashed the equivalent of a Tsunami and although it will take time to build force and velocity the result will still be devastating. We are most likely in for one more super asset bubble before we suffer a global depression of epic proportion. When the double top forms in 24 to 36 months get the hell out no matter what the market “gurus” are telling you. Cash and assets will be the only thing that will allow you to live with any measure of decency.
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One thing good in the short run is that this will boost commodity prices for Canada so that will help some with tax revenue but when the US dollar becomes worthless it won’t help. Take this chance to get out, here comes another asset bubble hopefully, but get out of debt, buy what you need to survive, get gold and silver then finally be ready.
The banks are insolvent, the fed printed 13 Trillion dollars off balance sheet over the last 7 or 8 months. This is just a dream that will come to an end soon, we are waking up to the nightmare slowly. There is a reason Obama is not bring back the constitution because there could be chaos in the coming years or even months. Its going to get nasty.