CathiefromCanada makes this interesting observation about the Conservative Dividend/Captial Gains Tax break announce just last week. If the Conservatives win, its time to get into the house flipping business, I guess.
Hmm now that would bouy the phony economics of debt that currently dominates the market.
As I blogged here earlier,The Real Debt and Deficit Crisis, Canadians and American consumers are now in a net negative as far as savings go. And it has been consumption and only consumption, including a hot housing market in the USA that has kept the GNP and GDP growing. We are now in a debtor economy.
This is NOT a productive economy, it is a supply side economy which is why the Bank of Canada keeps a wary eye open for the mythical creature Inflation.
The reality is that this is the new service economy that has been predicted for so long. North American capitalism is no longer producing profit but making a profit on servicing debt. Our personal debt.
Which is why Capital One and MSNB wants to give you a credit card.
Tags
Canada
Bank of Canada
economy
wages
labour
inflation
personal debt
Federal Election
Politics
Conservatives
Liberals
No comments:
Post a Comment