Tuesday, August 9, 2011

August 9: They noticed the economic crisis!

It didn't make section A. Page A1 was reserved for a picture of girls jumping into the water, a kite fest, an article on how rainy it is (for those who haven't noticed it); and the rest of the section is just as good.

But the big story of the day make the NewsToday section  - as "World markets  rattled".  Rattled, though, is surely an understatement as in - "Hiroshima day marred by atomic bomb".

As well, the story reassures us that it is " unlikely the US well reenter recession amd drag Camada along with it".   Cute. Very cute. The economist who said that is defining recession as a time when the rich are losing money. They aren't so, by those terms we're in good times. The reality in the US is that aome 50 million people are living on good stamps. Over a quarter of all American children are living in poverty. True enough, that's not a recession. That's a depression. And the suffering will grow to be much worse as the US cuts spending for the poor to give lush contracts to the defence industry.

Watch for the next stage of the Times and Transcript reaction as we feel the recession more keenly. It will demand cuts in provincial services to most New Brunswickers, but insist on welfare for coroporations, welfafe in the form of tax cuts, energy prices, subsidies, "stimulation" projects.

The argument will be that welfare for the rich will revive the economy. The paper may even call on a trusted authority like professor Savoie to asssure us that cutting taxes to the rich will pull us out of the slump.

Of course, corporate welfare in any form will do no such thing. You don't need a degree in economics to figure that out. For almost a century, Haiti has had close to no business taxes at all, no regulations, no social services - and it has produced considerable wealth, particularly in clothing and food exports. But all that wealth has stayed in the pockets of the very rich - Haitians who produce those goods remain the poorest in the western world.

But just you watch the Alward puppet government and the puppet T&T. Our masters  haven't finished with us yet.  Bad times are good for those who can make money out of cheap labour and low corporate taxes.

As well,  the T&T has at last noticed the British riots, now spreading from London to other cities. The story resports that the British gtovernment has blamed the riots on opportunistic criminals. In fact, the British goveronment abandoned that version a day ago - long before the T&T went to press. Now,
Britain admits the riots have more to do with anger at the failure of government to deal realistically with the recession by taxing the rich and helping the poor. That would go a long way to revive the economy.Jesus didn't feed the multititude by keeping all the breat and fishses for himself and the disciples.

That explains why the US is not able to deal with its economic crisis. The super rich, who hold so much of the nationa's wealth that they could balance the budget on their taxes alone, are determined not to pay a cent. They are going to force the poor and what is left of the middle class to pay the price. Expect the same (actually, more of the same) from Alward - or from the Liberals should anybody be dumb enough to elect them again.)

There are two, solid columns by Alec Bruce and Gwynne Dyer. The top of the op ed page has its usual opinion column written by a staff writer. It could be titled, "Wow! What about that U2 show, eh?"

There is no mention of fracking in New Brunswick. No pictures. No explanation. No notice of where it's happening. No mention of local reactions.

But, of course, that's not as important as how great the U2 show was, and who we shoul get for next year to draw all those American tourists just looking for a place to spend their food stamps.

1 comment:

  1. I have to admit to great disappointment at Wednesday's "newspaper"... I could NOT find anything about how wonderful, marvellous, out of this world magnificent was the U2 concert.I must look again....surekly there is something.

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