We baby boomers have been busy voting for great pensions and great health care systems for ourselves. Some of us have also been at work instituting work rules that benefit only boomers and make it hard for them to be fired so that they can retain great paying jobs for life.
The results of all this is that in we have huge governmental debts, little to no economic growth and high youth unemployment. We also seem to be very unwilling to change anything to solve current problems. I wonder how this will all end. At some point, we are going to have to deal with ours problems because this cannot go on forever.
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Undoubtedly it is a big problem, not just for Canada, but for all developed countries.
ReplyDeleteSue, This analysis is distressingly simplistic. It is just a rehash of the media chant calling for more austerity. Read Paul Krugman for an informed alternate view.
ReplyDeleteGovernment debt, ha! There does not seem to be much of a problem spending $40B to buy useless fighter jets. Or billions given to the likes of General Motors. Workers get nothing except the hope of keeping their jobs at much lower pay.
I think the motto for the government should be "money for the rich, jobs for the poor".
I think that we need to be more innovative that just austerity. I also thought maybe simplicity would get the message across. But all I got back is left-wing rhetoric. I would like to be more sensible than that.
DeleteBut there are far too many people and it seems you are one, who thinks we have no problem with debt. We do have a problem with debt and if we do not deal with it, it will blow up in our faces.
I have read Krugman and many other economists for that matter. I must admit I do not much admire Krugman.
You have made the statement that you are first a capitalist. I am sure that you are also a kind person.
DeleteI just finished watching "Capitalism - a Love Story" and I thought of you. You should check out the movie if you have the time.
Regards,
Anonymous
I think it is height of insincerity to say such things as you are sure that I am a nice person and refer me to a Michael Moore film.
DeleteI do not have much respect for Michael Moore. He is the one that has changed documentary films forever. Documentary film makers no longer even attempt to tell anything close to the truth. They are now all about getting a message across. Michael Moore was the one first produce a so called documentary film that was all about the message.
First you have to understand that we really do not have much of a capitalist system. There is far too much government interference.
What a lot of people miss is that it has been capitalist type changes in China that has lifted millions of people out of poverty.
What a lot of people do not understand is that “capitalism” is a type of market system. A market system can only do so much. It can never make up for awful politicians or awful government policies, or for people voting themselves government money.
Capitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all. --- John Maynard Keynes
DeleteI believe you are quoting Sir George Schuster.
Deletedoes it matter who is being quoted, the point stands on its own.
ReplyDeleteI think the point is that you see others as evil and I do not.
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