I was reading yet another article this morning based on the World's economic uncertainties, and the effects of the day on markets, investors outlook and banking industry overviews. Got me to thinking about how little anyone writes about the individuals caught under the wheels of the Bus with no where to go, but down.
All well and good to go about trying to fix things manipulating interest rates, but who does this hurt? Swamping the money supply by various means gets some attention, but does anyone talk about the effects being seen from the result of years and years of focus on growth, and the result of the extraordinary exit of investment monies from real estate growth into oil futures that we saw last year?
Most focus is on the peripherals, how it came to be, what happened during, but little is said about the pinch now becoming a grab, by many of those companies that were created or greatly expanded during the growth period, and what they are currently doing in the marketplace. An example of which can be found on the shelves of your local giant corporation owned grocery outlet. How many products spiked by an extraordinary amount supposedly due to increased transportation and production costs related to energy, only to have remained at that level or higher? What about the ruse employed by Oil giants concerning the cost of Diesel and home heating oil? Demand is down significantly, so why is Diesel still priced higher at the pumps than gasoline? Quick answer, because they can.
There are a lot of people who get caught between a rock and a hard place in times like these. We hear about those who lose their jobs, and many truly sympathize. Some know what it is like to be in similar circumstances. How much do we hear about those who worked for many years, encountered these or similar difficulties and approached retirement with some savings, perhaps RRSP's and largely relied on Government pensions, meager private industry pensions or combinations thereof, and hopes of some steady supplement from their savings? Not much I think.
Some say that housing and auto prices have declined, so overall we have deflation. Well, maybe if you are still active in that sphere of economic activity, it is significant. If not, things such as rising energy costs, grocery, property taxes and the like are priority concerns. These things are going up. In Ontario, and I expect other Provinces soon to be heard from, harmonized sales tax will grab you by both cheeks of your backside and squeeze you some more. So with the recent debacle in the markets destroying half of savings for many, and interest being virtually useless in regards to income, what are these people to do in order to cover these increased costs for the necessities of life? Many even have to pay their own medical and dental costs, plus eye testing and glasses. If you are desperate poor and don't have private coverage, most Provincial Gov's have programs to address this. Not easily accessed programs mind you, but they are there buried under lengthy bureaucratic process and mountains of paper.
Unfortunately though, those with Old age security and or CPP benefits plus a little bit of savings generally don't qualify, so they are in fact more poor than the poor, especially if they are ill or have disabilites that incur extra costs. Neat system wot?
Not to forget the officially government designated poor though, as they have similar concerns and are also extremely sensitive to the increases in costs for basic needs.
I can't remember the last time I read an article in a major media venue that brought these things out in the light and focused on it.
To the MSM, I would say kindly put some focus on these largely forgotten people. Not just the murders and other sensational news from the United States. Never know boys and girls, someday soon you too might be seen at the Food Bank hurrying with your bundles to your leased Escolade parked around the corner.
Here's the link that got that mini rant started;
http://ca.news.yahoo.com/s/reuters/090407/business/cbusiness_us_markets_global
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Breaking news or how to p`o 300,000 million people
ReplyDeleteDuring the election VPE Biden said the election was all about jobs. Today on CNN the VP will announce the economy will continue to lose jobs every month this year.
Will he release a new economic plan now that he has officially announced the failure of the election economic plan to save and create jobs with hundreds of billions in deficit spending or just keep talking.
One wonders how gutsy the Democrats are to announce a job program to get elected they know they will never deliver on. Axe the tax anyone?
There seems top be some consternation among Republicans about Obama apologizing to the world for an unacceptable level of arrogance. After his selection for VP and State it seems reasonable a global apology is in order so I don`t see what the problem is.
One,
ReplyDeleteyou mad? You want the media to dig and tell it like it is? You want people to get all upset and start looking for individuals and institutions to blame?
Far from it! The Ottawa Citizen started a special series on "Optimism: The Good Beyond The Gloom" yesterday. First installment : "Canada 'light years' from Depression: Likening our current woes to the Dirty Thirties trivializes the hardships faced by our parents: experts". http://www.ottawacitizen.com/business/fp/Canada+light+years+from+Depression/1467836/story.html
It is true, of course. And we should have progressed beyond breadlines, people riding rails, or dying because they could not afford drugs or hospitals. Let's even ignore the question of whether this social progress was due to socialism or capitalism. But darn it, more people are getting hurt every day, those not hurt are made more vulnerable, and there is no salvation in sight.
Since the media are owned by and speak for the very corporate establishment whose greed got us into this mess, all we can expect from them is that they will deflect blame, point to shiny things, and stroke fleeced sheep to keep them quiet. And that is one expectation that will not be disappointed.
"the media are owned by and speak for the very corporate establishment"
ReplyDeleteThey continusly pump out every lie the government tells so while msm is the corporate establisment they clearly take their orders from government.
Me Mad? The answer you received to that question, would depend on who you asked.
ReplyDeleteI am also disappointed in how little attention these concerns receive from prominent Partisan bloggers. Things such as Iggy's dreams of an International Park for the Arctic circle seem to take their eye off of the ball far too easily.
That article in the Citizen appears to be little more than a back up to Flaherty's recent mumblings. The list of things that people didn't have back then should have included things like a tax burden that consumes the first 6 months of many people earnings.
It should have also pointed out that very many people paid little or no taxes until retail sales tax came into existence, and therefore could actually save money or invest in their families future. And that in the early 1950's half of all Canadians earned their living from Agriculture based sources and many came from farms and communities where self sufficiency or at least partial self/suff was the norm. Don't know about the 30's, but suspect the percentage was higher still. They didn't need nearly as much cash in hand anyway because they weren't dependent on consumer goods anywhere near the extent society is today.
Another thing I thought was narrow was the assessment of welfare or Dole as it was called in this area. The overseer of the poor handled this and often people were connected with others who needed temporary help and were paid in goods such as farm products or firewood. Sometimes they were able to arrange longer term employment as well. Those who couldn't work at all received help from a variety of sources in the communities including churches. I can't offer specifics because I didn't live through those times, but I have heard my elders talk about it and my impression was that people's basic needs were addressed one way or another.
Interestingly, even during those "dark days", a the Churches still functioned, and every community of any size in this area had at least a couple of very wealthy families who together had a hand in just about everything. One of the favorites was to supplement their forestry, agriculture, shipping and manufacturing interests with retail and farm supply businesses and pay people with credits at those businesses.
Some became entwined in the importation and delivery of illegal liquor as well. But that's another story.
Today's Conspiracy Theory is bought to you by FOX-TV, the last bastion of true, honest and free journalism!
ReplyDeleteIt focuses on the secret, but immense fleet of Cessna Training Aircraft which is the domain of the USAF.
Not only are these Trainers nicknamed "Brute Bombing Busters", because of their immense payload but they are also two-seated, nuclear powered and have a maximum cruising speed of Mach 87, slightly quicker than the rest of the universe.
Cruising altitude is 100 million miles -- look far, far away -- and also holds the uncanny ability to morph into flying yellow submarines, thus able to dive straight into oceans, lurking in hell. Outta sight, outta mind!
On which planet, no one knows 'coz none have ever landed here, that's fer sure! For further info., please call La Cute L'il Flying Fuzzball hairy at CRAP headquarters, behind your local men's urinal!
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There is a first time for everyone . . .
A girl asks her boyfriend to come over Friday night to meet and have dinner with her parents.
Since this is such a big event, the girl says to her boyfriend that after dinner, she would like to go out and make love for the first time.
The boy is ecstatic, but he has never had the experience before so he takes a trip to the pharmacist to get some condoms. He tells the pharmacist it's his first time and the pharmacist helps the boy for about an hour.
He tells the boy everything there is to know about condoms and sex. At the register, the pharmacist asks the boy how many condoms he'd like to buy, a 3-pack, 10-pack, or family pack.
The boy insists on the family pack because he thinks he will be rather busy, it being his first time and all.
That night, the boy shows up at the girl's parents house and meets her at the door.
'Oh, I'm so excited for you to meet my parents, come on in!'
The boy goes inside and is taken to the dinner table where the girl's parents are seated. The boy quickly offers to say grace and bows his head.
A minute passes, and the boy is still deep in prayer, with his head down. Ten minutes pass, and still no movement from the boy.
Finally, after 20 minutes with his head down, the girlfriend leans over and whispers to him,
'I had no idea you were this religious.'
The boy turns and whispers back,
'I had no idea your father was a pharmacist.'
If you DON'T forward this to at least one person you have a bad sense of humor!
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THOUGHT FOR THE DAY! (Courtesy wrh.com)
"The dream of capitalism is to co-opt people with higher living standards without redistributing any wealth. Without co-optation, widespread repression is the only guarantor of gross inequality." -- Holly Sklar, from her book Trilateralism
A good time to realize that money is simply a tool, like lawnmowers, autos, etc. -- it's someone else who places themselves in power positions, makes all these silly proclamations and declarations about things they know nothing about, and sheeple listen, obey and don't bother to any research themselves.
Guess that's why this planet is so screwed up!
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G'day y'all -- gorgeously sunny and cool day here. Skiing enthusiasts are being advised to wear loads of sunscreen, even 'tho there's still tons of snow at the hills, for gawd's sake!
Rush Limbaugh may, in turn, have morphed into hairy the Jabba -- see for yourselves! -- http://www.youtube.com/watch?v=omSqEwaO_X0&feature=email
More later!
Ben Dover,
ReplyDeleterather than media and corporate establishment taking their orders from the government, I think it's the other way around.
Government is elected with the financial support, media propaganda and general influence of the corporate establishment. It's the latter that tells government what measures it wants taken and laws it wants passed. Us peons only get to imbibe propaganda and vote as suggested periodically.
Come to think of it, there could not be better proof positive of this than current events.
"rather than media and corporate establishment taking their orders from the government, I think it's the other way around"
ReplyDeleteEither way it is government responsibility and any failure of the system is the failing of government.
First government fails, then the economy.
We elect a government to create and enforce the rules surrounding both public and corporate indulgences at the will of the people. You are saying that government has become so corrupt they no longer consider the interests of the electorate and the greater good in favor of corporate interests which they now function for.
Well I agree, our government has become too corrupt to function but I don`t agree msm is peddling every lie that materializes from government to promote corporate greed.
For instance msm continually professing no one including government visualized the extend of this global economic downturn when we`ve been blogging heavily about it for at least 2 years.
Some in government have been caught preaching a false recovery are now confessing it`ll be years before employment turns positive leading to a real recovery. That bit of bs was way to much to even pass causal inspection.
Regardless of how corrupt corporate Canada has become it`s government corruption that msm is protecting.
Seems as if Vancouver has made it to the big time -- wrh.com had a link which said there have been 18 murders in the past few weeks, all gang- and drug-related. I'm just happy we came here in 1992 -- the lower mainland is not a nice place to live.
ReplyDelete------
Now the truth -- which was clear to anyone -- is out. Harper staunchly supports Israel, Galloway doesn't. -- http://tinyurl.com/cood5r
"Anyone who has ever seen George Galloway in action knows why he had to be stopped at the border. He definitely poses a threat – although not the security one alleged by the Harper government.
"Rather, Galloway, a five-times elected member of the British Parliament, poses a threat to Stephen Harper's ability to sell Canadians on our involvement in the Afghan war and on Ottawa's support for Israel in its battle against the Palestinians."
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More computer not-very-nice stuff. -- http://tinyurl.com/crtuzt
"While we may not have a smoking gun showing this botnet as the work of any government organization, it is very clear that the groups behind the tools are organized and making it very easy for individuals to participate in these attacks."
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Here's good bedtime reading for you! -- http://tinyurl.com/dx49am
"The Madoff investigation is very similar to the 9-11 investigation in that evidence of a larger conspiracy is being avoided and ignored. It is possible that the billions that Madoff stole, and is still unaccounted for, was being used to finance Israel’s vast global spy and sabotage network Mossad with connections to both AIG and quite possibly 9/11 itself:"
One may conclude that if 9-11 was the originator of the mess we're in now, then dubya, cheney & co. are 100% to blame, as they were in office at the time, so they would have known in advance what was going down.
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Subject: G20. Answer: Yes. The question is on the link. -- http://tinyurl.com/cjbszh
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Coming from the msm. I don't know accurate this is. Will Obama be another JFK / RFK? Time will tell. -- http://tinyurl.com/d3arkw
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Putin has unveiled a US$90 bln. spending plan, while Russia's Siberian Services has defaulted on US$100 mln. of bonds. Borrow from Peter to pay Paul? China's and Taiwan's exports have also slumped, 'coz there ain't no money left anywhere!
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One part I forgot to add to the link I posted a day or two ago -- it used to be that if a pilot refused to respond to USAF pilots' requests to land ASAP, after ten minutes he would be fired on and the plane destroyed.
I don't know whether the same practice still exists now.
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The msm doesn't recognize this (neither does Garth), but it appears to be official, at least for the US. -- http://tinyurl.com/au5en2
"The IMF has also performed a complete audit of the whole US financial system, and therefore has a clearer idea of American finances than just about any other organization.
"So the fact that the head of the IMF is saying that the world's advanced economies are already in a depression carries great weight."
Charles, or 3 of 7,
ReplyDeleteGang and drug related murders in large population areas. But Hunting rifles are the problem don't you know? I don't know how much longer I can stand the stupid arrogance of the young and liberal when it comes to this topic. They just don't want to hear the truth, rather go snarf some more coke and pretend.
About Madoff, it stinks. They can investigate damn near anything they want to, so this business of his guilty pleas hindering or blocking further investigation is absurd.
The msm doesn't recognize this (neither does Garth), but it appears to be official, at least for the US. -- http://tinyurl.com/au5en2
ReplyDeleteCharles, that news is months old. Since then markets have had a massive bull run which is more an over reaction of the bear market of the same vintage.
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For something up to date.
"mutual funds, they can't miss the rally"
Everyday some noted experts either promote markets as a leading indicator of recovery or a lagging indicator. Here`s why even quarterly trends really have nothing to do with recovery or even signs of a recovery. Really not even a recovery bet, it`s a bet on how much capital will flow on sentiment. lol, the only indicator the markets are is how many gamblers there are lurking or acting at any given time.
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http://finance.yahoo.com/news/Stocks-open-higher-on-merger-apf-14880138.html
Dave Rovelli, managing director of trading at brokerage Canaccord Adams. "These guys that run mutual funds, they can't miss the rally. If the S&P starts to go positive and they are behind, they are going to have to start buying just to keep up with the return. That's why this rally might have legs."