Monthly Archives: September 2008

History of US Bailouts

I’m a visual person.  This "graph" depicts the history of US bailouts from 1970 through to the current day.

Please note that the "Troubled Asset Relief Program" is nowhere near its end.  By the time we’re done, my prediction is that American taxpayers will be on the hook for more than $2 trillion worth of toxic debt that Wall Street has created.

Bravo.  Well done fellas.

Meanwhile, Bush and McCain are described as threatening the US (and the world’s financial system) with economic and financial terrorism.  For the full story, please click here .

cbay: the selling of Canada

Stephen Harper announced last week that after the election, he would look at deregulation and privatization as a central mandate for ‘his’ government.

I’ve decided that we should call this ‘cbay’, but it would be quite opposite of ebay, where consumers buy things, based on the highest bid.

Instead, cbay would focus on ways to sell off prime Canadian assets like health care, the AECL, the Canadian Wheat Board and other organizations that help Canadians fight off rapacious greed in the world AT THE LOWEST POSSIBLE PRICE.  All you’d have to do is be a mega-international co and find a way in to the inner circle (assuming you’re not there already).

Canadians, who have invested billions in our public infrastructure, would be left holding the bag.  Woohoo!!

Mobile Phone Affects on Children

Citing research from Sweden, this article identifies that letting your child use a cell phone might be like letting them play with a stick of dynamite – with charges.

What’s frustrating for me is that I work in an industry where mobile is being positioned as ‘the next big thing’ as far as marketing opportunities go.  Ugh.

The Harper Record: Free Book Download

The Canadian Centre for Policy Alternatives has posted a very timely review of the Harper Conservative Record.

The link to the download is here:

http://www.policyalternatives.ca/reports/2008/09/harperrecord/index.cfm

Please, people:  copy the link, download it, read it and please, please, please distribute the link widely and often to friends and family to ensure that everyone understands ‘the Harper Record’ before the Canadian election finally occurs on Oct 14.

YouTube: Naomi Klein on Bill Maher’s ‘Overtime’

Original video link here .

Naomi is in a state of real wild heaven and was introduced by Bill Maher as being "the most perfect booking (they’ve) ever had".

As she begins to present her theory about Disaster Capitalism – now proven exceptionally well by the meltdown on Wall Street – Andrew Sullivan of the Atlantic and author of "The Conservative Soul" continues to interrupt her.  As he does so, and decries her comments about how we’ve expanded our ‘socialism for the rich’, but she puts him to shame by suggesting that we should stop nationalizing the junk and start nationalizing the profitable companies like Exxon.

Apparently – according to Sullivan – the Bush folks are actually socialists and Wall Street is NOT to blame for the crisis.  Instead, he suggests that Americans demanded it and we should not be bailing them out because they over-extended themselves.  He’s actually got a point.

However, to paraphrase Klein, the most important thing we have to do is look to who benefits from national and potentially international bailouts.  The payouts to executives on Wall Street exceeding $5-6 billion, whereas most people are just leaving their keys in the mailbox.

Also, the US never bailed out failed dot-coms.

At the end, they agree on Naomi’s central point:  we have what she calls ‘cry-baby capitalism’.