Peace, order and good government, eh?: The Age of Austerity

The government of Ontario is pleased to announce that it’s improving the lot of those who rely on disability and social assistance benefits. Rates are being raised by 1%. Since that’s below the rate of inflation it’s really not an improvement at all. The poorest among us will fall further behind. But we live in ...

Politics and Entertainment: why focus on inflation when there is little evidence of a inflationary trend while there are abundant statistics revealing just how bad things are for both the unemployed and the underemployed.

One of the official goals of central bank monetary policy is supposed to be low employment fostered through what is known as an expansionary policy by lowering interest rates with the hope that low credit rates will encourage businesses to expand their operations by way of capital investment in hard assets or capital expenditures of some sort ...

Politics and Entertainment: why focus on inflation when there is little evidence of a inflationary trend while there are abundant statistics revealing just how bad things are for both the unemployed and the underemployed.

One of the official goals of central bank monetary policy is supposed to be low employment fostered through what is known as an expansionary policy by lowering interest rates with the hope that low credit rates will encourage businesses to expand their operations by way of capital investment in hard assets or capital expenditures of some sort ...

Politics and Entertainment: Why are governments addicted to neoliberal #austerity?

The key to deficit reduction is not austerity – reducing government spending by cutting programs and personnel – but good old-fashioned employment. Stanford’s argument is in the Krugman reformist, Keynesian tradition. He doesn’t seek a transformation, merely a technical economic readjustment, but, given our failure to transform capitalism so far – which can be brought about, in any case, only with ...

Politics and Entertainment: Why are governments addicted to neoliberal #austerity?

The key to deficit reduction is not austerity – reducing government spending by cutting programs and personnel – but good old-fashioned employment. Stanford’s argument is in the Krugman reformist, Keynesian tradition. He doesn’t seek a transformation, merely a technical economic readjustment, but, given our failure to transform capitalism so far – which can be brought about, in any case, only with ...

Left Over: Banks? Fuggetaboutit………

RBC replaces Canadian staff with foreign workers Axed employee blows whistle; federal government investigating By Kathy Tomlinson, CBC News Posted: Apr 6, 2013 5:31 PM PT This is going to sound like an unpaid ode to Credit Unions, so be it…in this case, because I know it best, VanCity…not only are Credit Unions competitive with bank ...

Politics and Entertainment: The issue is not #capitalism under new management, but the transformation of #capitalism itself. #neoliberalism #cdnecon

More and more I tend to agree with George Monbiot that it is not neoliberalism in and of itself as an ideology or economic theory that is the root cause of our economic/political/social woes, but the ruling oligarchy’s alibiing use of that model to further their own wealth no matter the harm that results from ...

Politics and Entertainment: The issue is not #capitalism under new management, but the transformation of #capitalism itself. #neoliberalism #cdnecon

More and more I tend to agree with George Monbiot that it is not neoliberalism in and of itself as an ideology or economic theory that is the root cause of our economic/political/social woes, but the ruling oligarchy’s alibiing use of that model to further their own wealth no matter the harm that results from ...

Politics and Entertainment: To begin the process of democratizing the economy step 1 is to restore the banks to their status as public utilities

More at The Real News This is Part 2 of a three part discussion with James K. Galbraith and Leo Panitch on whether any sort of New Deal is now possible in America. This segment crystallizes for me the difference between Keynesian reformers like Galbraith and Krugman, say, and revolutionaries like Panitch. Galbraith  continues to have faith in regulation and the government institutions ...

Politics and Entertainment: To begin the process of democratizing the economy step 1 is to restore the banks to their status as public utilities

More at The Real News This is Part 2 of a three part discussion with James K. Galbraith and Leo Panitch on whether any sort of New Deal is now possible in America. This segment crystallizes for me the difference between Keynesian reformers like Galbraith and Krugman, say, and revolutionaries like Panitch. Galbraith  continues to have faith in regulation and the government institutions ...

Politics and Entertainment: A 516.7 billion increase in personal debt and 140 billion in federal debt since Flaherty took over

#cdnecon An Appalling Performance from a Finance Minister. » Whatever economic movement we’ve had has been fuelled by essentially personal debt, an astonishing  516.7 billion increase since 2006, at a staggering 165% debt to disposable income ratio. Only #banksters and the investor class benefit from such a financialization of the economy. And we’re 140 billion deeper in federal financial debt since ...

Politics and Entertainment: A 516.7 billion increase in personal debt and 140 billion in federal debt since Flaherty took over

#cdnecon An Appalling Performance from a Finance Minister. » Whatever economic movement we’ve had has been fuelled by essentially personal debt, an astonishing  516.7 billion increase since 2006, at a staggering 165% debt to disposable income ratio. Only #banksters and the investor class benefit from such a financialization of the economy. And we’re 140 billion deeper in federal financial debt since ...

Politics and Entertainment: This will be the Regime’s Primary Alibi followed by the EU crisis when the Canadian Economy Sinks into Recession

Canada faces near-recession if U.S. plunges over ‘cliff,’ Carney warns  “Carney warns of risk from U.S. Bank of Canada Governor Mark Carney has warned that a failure by U.S. politicians to reach a new budget agreement before time runs out would push Canada close to another recession… the bank warned that Canadi ans are still ...

Politics and Entertainment: This will be the Regime’s Primary Alibi followed by the EU crisis when the Canadian Economy Sinks into Recession

Canada faces near-recession if U.S. plunges over ‘cliff,’ Carney warns  “Carney warns of risk from U.S. Bank of Canada Governor Mark Carney has warned that a failure by U.S. politicians to reach a new budget agreement before time runs out would push Canada close to another recession… the bank warned that Canadi ans are still ...

Politics and Entertainment: Banksters will be on a Desperate Prowl for the Rest of 2012

As I’ve suggested many times, the current global economic conditions were to be expected. We are in a static, no growth economy forever, the maximum growth hovering around 2%. for the foreseeable future.  I could live with that, but market-driven neoliberals couldn’t, and they are the ones who, alas, control economic policy in the world. ...

Politics and Entertainment: a tiny glimpse into the ways our government serves the corporate and financial world, not the people of Canada

Some Key Areas Where Neoliberal Policy Undermines both the Industrial Economy and Canadian Democracy Under the Harper Regime, the investor class is constantly being protected at the expense of the real industrial economy, for just about all policy decisions privilege both the financial sector, with its market-driven initiatives and debt-driven growth strategies, and of course ...

Politics and Entertainment: 14 economic advisors Flaherty consults on policy and budgets are all from the financial sector: Fiscal contraction doesn’t work

The 14 economic advisors Flaherty consults on policy and budgets are all from the financial sector, mostly banksters. Here’s what James K. Galbraith says about the implicit danger of such a stacked deck:  “….economic policy should not be under the control of bankers, and any economic team which is dominated by the financial sector is ...

Politics and Entertainment: James K. Galbraith: Inequality and Instability

More at The Real News More at The Real News More at The Real News More at The Real News

Politics and Entertainment: Peak Everything and a Perpetual No Growth Economy

Many heterodox economists and post-carbon researchers – most notably Richard Heinberg in several books but particularly in his seminal The End of Growth and Chris Martenson in The Crash Course – have recognized that, among other lesser causes, because of peak oil, the core source of energy that has been driving our economy for over ...

Politics and Entertainment: Debt Continues To Smother Us All Thanks to the Banksters

So here’s how it works.  Although coming off record profits in 2011, Canadian banksters have decided to nickel and dime us in 2012 with their new chequing and ATM fees.  Why?  Because, on the one hand,  healthy corporations are hoarding their Flaherty tax cuts cash, are understandably reluctant to invest given a shaky global economy, and consequently simply don’t ...

Banksters fight back?

Are the vast, scum-ridden septic tanks of sleaze, avarice and mendacity that make up the US banking system a little rattled by Occupy Wall Street? Chris Hayes seems to have the proof on this morning’s “Up With Chris Hayes” show: This is exactly what is wrong with the whole system, that corporate entities have this ...

It’s “Bank Transfer Day”

…the day fed-up, fucked-over bank customers tell their banks to fuck off. This is the day bank customers have been encouraged to “Move [Their] Money” out of Too Big To Fail Pig Palaces like Bank of America and into credit unions, out of Wall Street and into Main Street.  Mass Banxodus!: The social media-organized global ...

The Game is Rigged

No, not that game.  I mean an actual Game, in this case, CNBC’s trading contest,  “Million Dollar Portfolio Challenge”.  The Challenge has run up against some challenges, and trading has been suspended for a week following the discovery of a technical glitch that some wily contestants were exploiting to their benefit. Surprise surprise: someone’s cheating. ...

Paul S. Graham: David McNally on Global Crisis and Global Resistance

David McNally teaches political science at York University in Toronto and is active in many social justice movements in that city. On Sept. 24, 2011, McNally spoke at the Mondragon Bookstore and Coffee Shop as a featured presenter at Winnipeg Radical Bookfair and DYI Fest. His topic: Global Crisis – Global Resistance. Length: 60 minutes ...

Rewriting History

 We Canadians just love believing fictions about ourselves especially when they allow us to climb up on high and sneeringly look down on others from a position of perceived  superiority. Well we can now officially add to our long list of delusions the fiction that Canadian Banks were not “bailed out” during the financial crisis. ...