Thursday, May 29, 2014

It's on purpose - today's edition

First quarter GDP has been revised.  It's now been established that the economy contracted by one percent.

6 comments:

  1. If you want to see your name in lights, go to the United States,” he explained. “If you want a stable middle-class existence, go to Canada.”

    This was all different than the extremes of opulence and destitution I was used to at home, but I didn’t really experience culture shock until I crossed back into the United States, on the tramp ferry from Kingston to Cape Vincent, N.Y. After weeks of driving through Canada’s orderly fishing ports and suburbanized metropolises, I was suddenly seeing … rural slums. Small towns blighted by abandoned gas stations. Dingy farmhouses with empty, eyeless windows. At the Erie County Fair, outside Buffalo, I witnessed a pageant of American poverty: a man swinging his lone leg between a pair of crutches, a phlegmy, smoky laugh gurgling from a mouth with intermittent teeth, a woman whose clothes were so packed with flesh she had to swing her shoulders robotically just to move forward.

    Read more at http://www.salon.com/2014/05/31/americas_middle_class_defeat_how_canada_shamed_the_wealthiest_nation_on_earth/?utm_source=facebook&utm_medium=socialflow

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  2. It's Intentional, I tell ya:
    here’s no way in Canada you’re going to get a zero-down mortgage,” said Jason Clemens, executive vice president of Vancouver’s Fraser Institute. “We have a much more conservative banking culture. Our banks hold all the mortgages they sell. They never got into the bundling.”

    Read more at "Ibid."

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  3. In other words, their leftists never succeeded in getting their government to institute a Community Reinvestment Act.

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  4. Your buddy McClellan at Salon ach=knowledges that US culture includes more innovation, which, as he says, can lead to phenomena like the dot-com bust. But it's pretty damn scurrilous of him to quote as some kind of final authority the guy who spouts the lie that it's conservatives who "created a low-wage economy." Also, he goes in for intruments of outright tyranny (that do indeed create a low-wage economy) such as the minimum wage.

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  5. He comes right out and characterizes Canada as "risk averse." Do you want to live in a risk-averse society? Is that any kind of path to greatness?

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  6. Without the legacy of slavery and an economy that must dump on many to uplift the fewer, Canada thrives while here it's "so very late in the day," as you continually remind us. The fault lies not in our stars but in the way we "consume" ourselves.

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