Excited Delirium

Stories about Excited Delirium, the Shock Economy and a little fiction here and there.

Category Archives: financial crisis

Follow the Money Behind Europe’s Debt Crisis

This link offers an insightful look into the roots of the European debt crisis.

It offers some refreshing reminders as to why fake fiscal emergencies and resulting ‘austerity measures’ are nothing but a sham.

Worse, just as they did in 2008-09, governments are rushing to rescue rickety banks with public funds. That’s why the European Central Bank, the IMF and Europe’s leading powers keep bailing out ailing states like Greece, Ireland and Portugal.

Again: follow the money. When debt-strapped governments receive hundreds of billions in new loans, that money is immediately sent into the coffers of private banks as payments on past loans. The whole situation, observes one writer in the Financial Times, “resembles a pyramid or Ponzi scheme” in which original lenders are paid back with new loans.

The difference is that the new loans are coming from public funds, which is another way of saying that private banks are being rescued once more by the people. Just as in the global bank crisis of 2008-09, bank profits are private, but their losses are public. Not exactly the free market. But it’s a nice deal for profligate bankers.

Any finance minister – including Jim Flaherty – that pretends there are different and more pressing issues behind this building crisis risks their credibility as people wake up to the reality that the big transfer – shifting our funds to the big banks – has to come to a quick end.

It’s important that we all resist austerity measures – fake fiscal emergencies designed to crush public services and public service – in the wake of this knowledge.

70% Agree: Occupy Wall Street Reflects Their Concerns About Corporate Greed

70% of respondents to a FOX poll (yes, FOX, no less) agree that the Occupy Wall Street movement reflects their concerns that the United States economy and government is being undermined by excessive corporate greed.

Take the poll yourself.

And after you do that, remind everyone around you that it’s time for the corporate free ride to end.

Chris Hedges vs Kevin O’Leary

US intellectual and author Chris Hedges was invited to speak on the ‘Lang and O’Leary Report’ on the CBC and gets attacked the money junkie Kevin O’Leary as he tries to rationalize the roots behind the Occupy Wall Street movement.

The full transcript of this ‘discussion’ can be found at the Daily Bail.

Chris Hedges doesn’t ‘call’ Kevin O’Leary anything, whereas O’Leary instantly descends to typical Fox-like rabid name calling and character assassination in order to try to berate Hedges into submission.

It doesn’t work and in fact, fails miserably, reminding us that O’Leary is one of Canada’s biggest hypocrites.  I mean, he’s working for the CBC, right?  He’s collecting a paycheque from the public and constantly attacks public institutions.  He claims he’s into free markets, but when the world questions the ‘socialism for capitalists and capitalism for socialists’ mentality that has overtaken world governments, he thinks we’re all a bunch of nutcases.

Er … nutbars.

O’Leary should be fired from the CBC.

#occupywallstreet grows while MSM misses the message

A massive union in the US – the New York Transit Workers Union – has just voted to join the massive and growing protests related to #occupywallstreet in New York.

This after there were voices saying that the NYPD may stop the violent arrests of protesters as the anti-Wall Street movement grows.

I’ve seen a few comments about the #occupywallstreet campaign, but the most obvious effort has been with Keith Olbermann, who of course, has been the only ‘mainstreamer’ to comment on the lack of commentary on the situation:


What do you think?

Is the protest being ignored?

The Solution to the Financial Crisis: Stop Killing People

America’s imperial age is about to come crashing to an end.

In the last bit of budget bitchin’, neither Obama, the Repugnicans nor the Tea Partiers were able to see the truth staring down their noses:  America has to stop wasting money on military operations.

The US spends trillions per year and all of that expenditure was taken off the table during the latest round of budget talks.  No honest rationale was provided, but we all know that military expenditures form the core of America’s economy today.

Cutting back on those expenses would be like cutting off an arm or a leg.

But it’s going to have to happen.

If it doesn’t, America will collapse in a state of financial ruin that the world has yet to witness in its entire history.

Here’s a little reminder about why military spending will ruin America’s economic future.

New Market Models

We desparately need a discussion about new market models that will actually work in the wake of the post-20th century debt crisis.

Greece, Spain, Ireland, Portugal and now maybe even the US all teeter on the brink of economic ruin in the wake of debt piled on debt piled on debt.

When defaults are finally declared, the resulting cost spiral will inflate the price of everything from shoes to corn to electricity to books to wheels for your car.  The shock may be moderate at first, but eventually we’ll all have fewer dollars in our pockets just as we try to survive.

Most of this debt has been accumulated for one thing:  the security state.

The security state consists of several expenditures:

  • to finance the act of unnecessary wars;
  • to fund the monitoring and control of all people with baseless crimes so that fees and levies can be imposed at a whim; and to
  • to punish and incarcerate citizens when these most basic crimes exceed a even more basic level of tolerance according to our dictators.

In Canada, we’re spending anywhere from $50 to $100 billion PER YEAR on the security state and military infrastructure, and yet we’re officially only fighting in one ‘war’ (Afghanistan).  Why are we wasting so much money – OUR taxpayer dollars – on something that’s so incredibly unproductive?

Iceland seems to have gone in the right direction by telling bankers and the IMF to go F*** themselves.

Ultimately, we need a new approach to new market models.

Eric Blair of alt-market.com interviews Brandon Smith in this piece on Alternative Markets at Activist Post where he shares some of these ideas. The basic definition of an alternative market:

… it is essentially any method of trade outside the establishment-controlled economy. It could be based on the barter of goods and skills, or the proliferation of precious metals to break our dependence on the fiat dollar (or Federal Reserve Note), etc. It could be a network of people across a county or state, or, an agreement between two friends.

And some thoughts about why alternative markets are labeled as underground or black markets around the world:

They are desperate, and I do mean DESPERATE, to keep us from developing our own private economies. If we are successful, we will no longer be in the position of dependency on the dollar or the sham economy. When it implodes, we will be relatively unfazed, and certainly not tearing each other apart. Meaning, their rationalization for martial law goes straight down the drain. The thought of that possibility really pisses them off…

But would alternative markets be enough when our governments are out of control, paying their friends and military buddies off with our money?

Probably not.  So we will also need a Declaration of Debt Independence.  It’s a basic concept that’s about to catch on like wild fire as everyone who’s not in control feels the effects of ‘austerity measures’:  you write into your Constitution (assuming you have one) that the government is not allowed to issue debt exceeding a certain percentage of your GDP (which should be redefined to capture the cost of environmental degradation and other borrowing from future generations), but to also identify that no government would ever be allowed to spend more than 3 or 5% of their GDP on defense, security and military spending (I would also suggest that this include prisons and other forms of incarceration).

At no point should any citizen’s government be borrowing money from bankers when they should be living within their means.  We should be investing in services for our children, not borrowing from their future in a failing effort to cork our insatiable desire for crap.

Public budgets should be for public good:  education, health, parks, trees, the environment, investment in the future, regulation and a sturdy and reliable justice system.

Another alternative market model would be extremely feasible if we owned the Internet, but we’re at risk of losing that too under the guise of security, protection from make-believe hackers and terrorists and porn sharks and other freaks that apparently lurk on every digital corner.  At some point in the future, we should expect the ‘Wild Internet of the West’ to be shut down in favour of a controlled Internet that’s no more illuminating and accessible than TV is today.

This would take a lot of work but more importantly, money.  I’ve been advocating some form of fund-raising effort for some time and would still be at the front of the line if someone were to say they were ready as well.

I can’t do it alone.

If we move on any of the above – and we really have to – hard times will be on their way, but we must stop living beyond our means and we have to shake off the bonds that are being placed our basic rights to communicate, participate and emancipate our day-to-day lives.

So … who’s on board?

MayDay 2011: The Last 24 Hours

I doubt I’ll be able to sleep tonight.

There’s still so much that I would love to expose about the lies Stephen Harper has been telling over the last 6 weeks (and decade or so as well), but I won’t.  There are so many projections, ideas, concepts and so on that I’d love to explore, but I’ve run out of time … and energy.

As the last 24 hours tick down, I’d like to thank all of the readers that have put up with my rants and who have contributed to the blog over the course of the election (and prior to this as well as those who might even continue to hang on).

I also want to beg everyone that has the slightest desire to push Canada into a sustainable future to VOTE.  Progressives outweigh conservatives in this country by a margin of at least 2 to 1, and it’s critical that you vote, vote strategically and vote early on because it’s going to be crowded!

Finally, I’d like to apologize to Stephen Harper for many direct and personal attacks and for insinuations that the Conservative Party of Canada is not a viable option in this election.  But hey … as long as you remain the lying politician that you are and members of your cabinet and other MPs remain suspect in their dealings with Canadian funds and the trust of voters, I’ll keep it up and completely retract anything I’ve said if I’m proven wrong.

Until then, I’ll remind all readers why we’re having this election:  YOU CAN’T BE TRUSTED.

In time, I’ll recover from this election and return to writing fiction and discussing my preferences, which are trashing mainstream media and crapping on poor economic policies that we take.

My expectation is that after tomorrow night, the latter will take a backseat because WE WILL WIN.

We will win this election.

We will win Canada back.

We will win the democracy and leadership that we expect from our politicians.

We will win back what we as citizens, taxpayers, children, grandparents, mothers, fathers, sons, daughters, uncles, aunts and all other relations deserve to win.

We will win our future.

We will win our internationally credibility.

We will win a clean and safe environment.

WE WILL WIN.

P.S.  My prediction for the election outcome is that we will elect an NDP minority government that’s a coalition with the Liberal Party.  My guess is that we’ll have about 110 NDP seats with 40 Liberal seats.  The Conservatives will be left with about 120 seats, most of which will come from Ontario and Alberta.  30 or so seats will be up for grabs.  The Bloc will be devastated, but might squeak out 15-20 seats.

As the fallout from the election sinks in, Gilles Duceppe, Stephen Harper and Michael Ignatieff will announce their retirement from their parties.

Elizabeth May will retire if she doesn’t win, but I am confident that the good people in Saanich-Gulf Islands will make the right decision for all of Canada and elect someone that will push for Proportional Representation and democratic reform in Canada.

MayDay 2011: Alternatives for Conservatives (repost)

For most of us, there should be no doubt that the Conservative Party of Canada is broken and represents everything that’s wrong in the world:

  • Poor fiscal management
  • Broken promises
  • Corruption and contempt for Parliament
  • Ignoring your beliefs and value system

Take heart if you’re a small-c conservative and you’re looking for someone that’s not a crook or someone that’s willing to spin any lie just to grab your vote!  There are many alternatives out there.

Seriously.  Here are just a few:

The Green Party (Site)

I fully admit that this (and all summaries below) is a very superficial summary, but the Green Party represents some of the following basic principles:

  • Let the market do what the market does best
  • No deficit
  • Lower taxes on personal income
  • Proportional representation
  • Taxes on waste

In essence, they feel to me like a libertarian party, but with a shade of green.

Why would a conservative vote for them?

Don’t believe the mainstream media: the Green Party of Canada is not a ‘lefty’ party ‘full of hippies’.  The Canadian Greens put the market in front of most of their policies and most of their platform has a vibe of ‘white collar’ politics.  While they’re very popular with young voters, most seniors tend to vote Green because they want to stay ‘mainstream’ while also staying faithful to small-c conservative values.

Libertarian Party (Site)

The Libertarians are strong believers that the government should not be in our lives in any way, shape or form.  The less government, the better.

The resulting promise of less government is lower taxes, reduced waste and less frustration for those who simply want to get on with their lives.

If you’re not familiar with the Libertarians, a very famous one is Ron Paul in the US.  Ron Paul is a Republican from Texas, but doesn’t believe in the largesse of government that has been brought about by all parties, including those of a conservative bent.

Why would a conservative vote for them?

Libertarians attract those that have had enough with promises, regardless of how much (or little) they will cost.

To see if you’re a Libertarian, try their Canadian quiz.  You may be surprised just how closely you’re aligned with their beliefs!

Canadian Action Party (Site)

One of the central planks of the Canadian Action Party is their demand that we get rid of the Bank of Canada.

While most of their other policies rank towards the left of the spectrum, this one puts them squarely in the middle of Libertarian territory, as Ron Paul has been an advocate of abolition of the Federal Reserve and deficit financing for many years.

Why would a conservative vote for them?

To be honest, I’m not so sure there’s a good answer to this question, but if there’s not a Libertarian or Green candidate in your riding, these may prove to be a good alternative.

Another reason why you would consider them: like the old Reform folks, they’re very supportive of an Elected Senate. Unlike the NDP – which would do away with the Senate altogether – the Canadian Action Party would fill the gap left when the Reform Party was vapourized in 2003.

Christian Heritage Party of Canada (Site)

I’ll go on record and remind everyone that I’m not a fan of the Christian Heritage Party (CHP), but I am a fan of democracy and it’s certainly their right to be out there soliciting votes.

The CHP is the only party to my knowledge that asserts its religious affiliation (Judeo-Christian) in the general public and is a viable option for all of those people that have been supporting the Conservative Party of Canada but who have yet to see progress made on issues like abortion, same-sex marriages and so on.

Why would a conservative vote for them?

If you used to be an Alliance member or simply want to see more overt religion in the policy-making that happens in this country, this is the party for you.

Since the ‘Unite the Right’ campaign washed all of these stronger theological discussions under the table, you’ve been struggling to find a voice with mainstream parties and you’re more than happy to support those that ACTUALLY reflect your value systems and who don’t pretend to reflect them just to grab a vote.

Pirate Party of Canada (Site)

The Pirate Party of Canada got its start when our government began to crack down on people that were using file-sharing and copyrighted materials for personal use.

They reflect the popular Pirate Party in Europe that actually won a number of seats in

There aren’t many candidates in this election, but the party is growing and we expect them to add candidates as the campaign progresses towards May 2.

Why would a conservative vote for them?

While the PPC may be seen as a single-issue party, they have a Libertarian bent that’s very refreshing, particularly if you’re young and you believe in openness, transparency and the elimination of copyright regulations that favour big companies and cost consumers billions each year.

Progressive Canadian Party (once the Progressive Conservatives) (Site)

The Progressive Canadian Party (PCP) is what remains from the aftermath of the Unite the Right campaign in 2003 that saw Stephen Harper consolidate and take control of the following parties:

  • Conservatives
  • Reform Party of Canada
  • Alliance Party

Or … CRAP as an acronym.  Sorry … my anti-Conservative bias is showing :)

Why would a conservative vote for them?

Any ‘Red Tory’ would be proud to vote for the Progressive Canadian Party, as they continue to reflect the softer side that the Conservatives lost when Stephen Harper took the reins of the CPC.

Most of the memes related to ‘family’ and religion are absent from the guiding principles of the party.  Instead they focus on unique concepts like sustainability, ’100 mile diets’, education, health care with some injection of private business and so on.

United Party of Canada (Site)

The United Party of Canada (UPC) is another recent response to the last election where dark-blue Conservatives ran rough over basic principles related to balance, equity and fairness.

Most of their policies reflect this response, including the following directions:

Why would a conservative vote for them?

The party is described as being centrist and would appeal to those ‘Red Tories’ that don’t have a Progressive Canadian candidate running in their riding.

Western Block Party (Site)

The Western Block Party offers those west of Ontario to consolidate their vote and influence into something more tangible, much like the Bloc Quebecois has in the past with Quebec.

The greatest challenge with the WBP is that the founder was the lawyer that represented Ernst Zundel, famous Holocaust denier.  Unfortunately, this taints the party somewhat, but if they are able to focus on the primacy of the West, they’ll be able to attract votes from Albertans, Manitobans, BCers and those from Saskatchewan.

Why would a conservative vote for them?

Despite the potential to be seen as a separatist or racist party, conservatives in the West that feel ‘left out’ by their party (including the Conservative Party of Canada) and who don’t believe that Quebec should be pulling all of the strings when it comes to politics will find a home here.

Online Party of Canada (Site)

While the Online Party of Canada is relatively new, there’s a possibility that they may gain momentum – even in this election – because of some of their unique policy platform ideas.

Why would a conservative vote for them?

Even though they’re a relatively ‘fresh’ party, they have potential to attract a lot of conservatives that want Canada to advance as a republic as opposed to a commonwealth country.

CONCLUSION

If you’re a small-c conservative, don’t feel overwhelmed, ignored or lost when it comes to going to the polls on May 2.

THERE ARE OPTIONS and it’s up to you to exercise your right to vote those options.

Of course, if I’ve missed any alternatives, please post them in comments below.

MayDay 2011: Alice Klein of NOW Toronto Encourages Us to Shake Off Cliches

Alice Klein wrote a piece in NOW Toronto this past week encouraging all of us to accept the fact that in this election, the stakes are extremely high and that the game has definitely changed.

She reminds us that it’s not about voting your passion, but voting for that party that will unseat the Conservative government and push them out of as many ridings as possible.

She’s behind Project Democracy, but there are other projects as well (copied from the Project Democracy site):

  • Avaaz The campaigning community bringing people-powered politics to decision-making worldwide
  • Lead Now Brings generations of Canadians together to take action for our future and hold politicians accountable.
  • Swing 33 Donate strategically in 33 ridings to defeat Harper.
  • Pair Vote – Vote Swapping Support your preferred party while also stopping Harper
  • Catch 22 Campaign A grassroots effort to help defeat the Conservative government in 22 key ridings.
  • The Environment is my Voting Issue Facebook Group An action-oriented Facebook group aimed at holding politicians accountable for their votes on environment issues.
  • Department of Culture A community of Canadian artists, arts professionals and cultural workers concerned about ensuring the social and cultural health and prosperity of our nation in the face of a Federal Government that is aggressively undermining Canadian values.
  • Fair Vote Canada – On August 1, 2000, a group of concerned citizens formed Fair Vote Canada (FVC) with the aim of building a nationwide campaign for voting system reform. We envisioned FVC as a multi-partisan, citizen-based campaign bringing together people from all parts of the country, all walks of life and all points on the political spectrum. Today FVC has members in all provinces and approximately 20 local and regional chapters.

Project Democracy is exciting because it focuses on helping voters get up to date polling data related to their riding.  In many ‘strategic voting’ ridings, the past favours the Liberals, but since the Liberals are sliding in the polls, should we really be electing someone from the past or someone from the future?  I’ve signed up for their email to get riding updates, so I’ll post more information as it comes to my in-basket.

Finally, I can’t repeat this often enough:  you can contact pretty much any riding and help them with calls, even if you’re not from that area.  Human voices are substantially more valuable to campaigners as opposed to those awful ‘robo-calls’ and they remind voters that this is an election about the future of all people in Canada.  Of course, consider your riding and the ridings that are immediately around you as opposed to those that are across the continent!

CCPA: Flaherty’s Irish is Showing

As we prepare for the next federal budget (supported by the Conservative-NDP coalition of convenience), we see again that Jim Flaherty’s Irish will likely show through.

This is a bad thing.  Bruce Campbell of the Canadian Centre for Policy Alternatives tells a cautionary tale about Irelend.

Ireland is bankrupt.

The Irish Prime Minister has been forced to resign.

Their economy is in ruin.

All because people bought the line that they had to make Ireland’s tax policy as attractive as possible.

Translate:  they sold the ‘cut corporate taxes’ routine and the people of Ireland were stupid enough to buy into it.

Now, unemployment is skyrocketing, the IMF (translate:  world corporations) owns Ireland and the Irish are screwed.

Canada is embarking on the same path.

Stop Corporate Tax Cuts NOW.  End Corporate Welfare.