Two weeks ago, I applauded as European leaders finally forced their mega banks to take a haircut. But events this week have illustrated how fragile their plan is. The union is too multifaceted to deal with the extraordinary mess the so called best and brightest have managed to create. As Tom Walkom points out in The Toronto Star, what began as a noble experiment fell victim to arrogance: . . . → Read More: Northern Reflections: Sophocles Knew How The Story Went
Paul Krugman has been arguing against the doctrine of “epansionary austerity” for sometime. That doctrine holds that, if governments make deep budget cuts, the economy will expand. It has become a theology among American Conservatives. Until yesterday,… . . . → Read More: Northern Reflections: And That Has Made All The Difference
It’s one of those “truths” in politics that is beyond questioning, like the “necessity” of an independent (i.e. free from democratic controls) central bank, but which, like everything else has evolved from a time when it wasn’t actually the truth. I’m,… . . . → Read More: RedBedHead: Harper’s Unearned Economic "Credibility"
Stephen Harper is a dreadful prime minister. But we would have made a superb minister — the kind who stands smugly in a pulpit. He truly believes he is a member of the elect — and his vocation is to bring everyone else into the promised land.In this … . . . → Read More: Northern Reflections: The Reverend Mr. Harper
There are so many ways that capitalism is absolutely irrational (not to mention inefficient at allocating resources) – the fact that the USA spends $1 trillion on “defence” while children die from lack of clean drinking around the world (or while growi… . . . → Read More: RedBedHead: Stock Markets Have A Mood Disorder