An Exercise in Deception
In his newsletter Scott Galloway writes the following: The only thing that’s passed for bipartisanship over the past four decades is reckless spending. Democrats want more social spending, Republicans want lower taxes. OK, let’s compromise — do both and fuck over our grandkids. He also writes: Let’s dispense with one of the most tired false […]
There has been a lot of talk about inflation, which I address in an other post, but for now I want to focus on gas prices. First, take a look at the illustration. Notice that even though oil prices are declining, gas prices are still rising. This is known as the ‘crack gap’ and exists […]
One of the incessant ‘Trudeau must go’ posts includes this feature chart. It pegs Canada’s total debt as $1,163 billion, and each individual debt as $31K. These numbers are supposed to frighten us. But what struck me is how low they are. Compare this, say, with total Canadian consumer debt of $2,200 billion. Average consumer […]
Inflation and The Deal
I heard a pernicious argument from a Conservative commentator on Rosemary Barton’s morning show yesterday. In between condescending remarks (“now look, Rosie”) the argument ran as follows: We are in a time of inflation so we should not pass measures that increase consumer spending. So we should oppose pharmacare and dental care. By contrast, though, […]
I won’t deny the utility of macroeconomic theory. But it is also abundantly clear that tracking the flow of money, goods and services in an economy is only one small part of a much larger and more complex domain.
Alberta’s Fair Deal
Alberta not only discarded income security at the exact moment it would have been most useful, it used its savings to take up the slack, squandering what could have been by now a 169-billion trust fund.
As a part of a progressive industrial policy, we should be looking to convert Canadian production from an industrial model to a cooperative model, from a model based on wealth and power to one based on community and consensus.