Corporate Profits at 50 Year High

And your salary is still on par with thirty years ago.

Corporate profits are at 50-year highs, the unemployment rate is at a 30-year low, and Canada is sporting the best government finances in all of the G7,

And these guys say they need tax cuts. Gimme a break. They continue to fail to invest their capital in technology and tools. Relying instead on matching tax breaks, government investment, union pension funds and union give backs.

Of course we are better off than the U.S. which has given business tax cuts, only to face job cuts, offshoring, and a trillion dollar deficit. The basket case that is the US economy is relying on the housing boom and personal debt.

Meanwhile Goldman Sachs, the Wall Street investment bank, suggested yesterday Canada's fatter household savings could help it "decouple" from an expected slowdown in the United States. The bank noted U.S. household spending was 1.3% more than income in the first quarter while the savings rate has been negative for more than a year. Canada, meanwhile, has a 1.9% savings rate -- all the better to spend.

Inflation in Canada is the creation of one province, the same one that boomed in the late seventies and early eighties.

"There are increasing signs that Alberta's white-hot economy has morphed into a classic boom, replete with labour shortages, surging real estate prices, and thus very real inflation pressures," Douglas Porter, deputy chief economist at BMO Nesbitt Burns, said in a report.
And with every boom comes a bust.

As we begin trading in the summer of 2006 I can't help but observe the remarkable resemblance between equity markets today and those of the summer of 1984.The bear of 1984 began when worries about rising interest rates caused a "correction" in the Dow Jones industrial average only days after the market hit an all-time high just shy of 1,300 during the week of Jan. 13, 1984. That so-called correction, unfortunately, persisted for months. I was an adviser at a downtown investment dealer and I sat with my peers feeling lost, adrift and without direction. One adviser nearby kept repeating, "There'll never be another up day, there'll never be another up day."Time may be right to limit exposure to Canadian currency

That was the day the market collapsed, oil prices dropped, and from Huston to Calgary the sound of petro capitalists hitting the streets was thunderous.

The good news is that while the boom is on, those in manufacturing and exporting who are crying the blues, will get no satisfaction from Sherriff Dodge.

Clement Gignac, chief economist at National Bank Financial, said Dodge kept his options open yesterday for the July 11 rate decision but sent a strong message that worries about the dollar won't dictate monetary policy. "He put in a little bit of uncertainty about his next move," said Gignac, who attended the speech. "But make no mistake, he was loud and clear that he does not control the Canadian dollar, so corporate Canada has to adjust to the new environment."
Won't clip loonie to suit exporters

More on Dodge

Also See

Loonie

Petro Dollar

Monopoly

Monopolies

inflation, loonie, dollar, jobless-report, workers, credit, credit-card, debt, Canada, employment, unemployment, interest-rates, Bank-of-Canada, labour, labor, Dodge, 1974, productivity, consumer-debt, housing-boom, competitiveness, Canada, economy, loonie, David, Dodge, Bank-of-Canada, inflation, dollar

Black Hole

Ah the trials and tribulations of the rich and those who would be our new aristocracy. Like little Lord Black

In a court filing that drips with sarcasm, U.S. prosecutors accused media mogul Conrad Black of failing to disclose millions of dollars in assets -- including nearly $6 million prosecutors said they learned about in the past few days. "Black's assets mysteriously increase in value without his knowledge, his debts diminish overnight, his business partners want to give him millions of dollars he never even realized he was owed, and he is able to take all the accolades for charitable distributions from a $3.1 million foundation, despite claiming no direct or indirect control over the foundation's assets," prosecutors wrote. US: Black failed to reveal assets

Of course our poor Lord Black pleads innocent. Poor being a relative term.

A "problem with the government's motion is that it assumes Mr. Black's guilt," said a document filed on behalf of the former media mogul. "Mr. Black, however, is presumed innocent."

Well if they presumed he was innocent they wouldn't be prosecuting him of course. But Lord High Mucky Muck of course presumes that they are not prosecuting him for crimes but persecuting him for his fame and fortune.

Ironically Blacks partner who pled guilty is still his partner. Black, Radler remain partners

After all this is a guy who has Al Capone as his hero. Who also tried to use Canada as a place to hide out from the IRS.

Also See:

Conrad Black

Criminal Capitalism: Black Lord Dodges Tax Man

Criminal Capitalism: Black & Radler,Thick as Thieves

Criminal Capitalism: Lord Black Fugitive

Criminal Capitalism: Black gets his comeuppance

Criminal Capitalism: Hollinger's Black Eye

Criminal Capitalism: Black Out






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Hiding In Quebec

The Harpocrites would rather hide in Quebec during the nationalist festival of St. Jean Baptiste, hidden in the old Quebec Fortress than appear anywhere near Toronto this weekend.

Conservatives, anti-gay sentiment colour this year's pride parade ...

They would rather trust their fete to hoards of Quebec Nationalists than appear anywhere near Queer Street in Toronto.

The homophobia of the Conservatives is not limited to their attempt to over turn Same Sex Marriage but in the Harpocrites refusal to attend the International Aids Conference in Toronto next month.

Bloc Québécois MP Christiane Gagnon argued that Mr. Harper is willing to move mountains to attend events when aimed at gaining electoral ground, but his absence as leader of the conference's host country shows he does not act like a statesman.She said AIDS cannot be linked solely with the gay community, but the fact Mr. Harper is also skipping this summer's Outgames, a gay and lesbian athletic event in Montreal, leads her to ask about the message he is sending. Harper's plan to skip AIDS forum ‘baffling'

Once again the dim witted conservatives, whose collective brain would leave a dinosaur ashamed, fail to realize that AID's is NOT a gay disease but a sexually transmitted disease that affects more heterosexuals world wide. And in particualr women. But then again the conservatives figure women wouldn't get AIDS if they maintained monogamous marriages, stayed home and took care of the kids. Except that is exactly how they get it in Africa.

Of course if the Harpocrite dressed like this he would be sure to be hit on if he did show up at the Gay Pride parade in Toronto.

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Define Nation

Huh? Does this make any sense....

Mr. Harper said that he respects the National Assembly's declaration that Quebec is a nation, but that Ottawa has no need to enter the debate."I recognize that the Quebec National Assembly has adopted that position. I don't know quite frankly what its legal significance is," he said, adding later that "it just seems to me to be a semantic debate that doesn't serve any purpose."

Nope but then again Mr. Haprocrite can claim not to be a lawyer which is good because even as an economist he is a failure. And he says Ottawa doesn't have to enter the nation state debate with Quebec. Gee I thought that was the debate. And considering repatriation of the Constitution, Meech Lake, the Charlottetown accord, it is far from semantic.

Nation hmm lets look that up shall we;

Nationalists define individual nations on the basis of certain criteria, which distinguish one nation from another; and determine "who is a member of each nation". These criteria might include a shared language, culture, and/or shared values which are predominantly represented within a specific ethnic group. National identity refers both to these defining criteria, and to the shared heritage of each group. Membership in a nation is usually involuntary and determined by birth. Nationalism sees most human activity as national in character. Nations have national symbols, a national culture, a national music and national literature; national folklore, a national mythology and - in some cases - even a national religion. Individuals share national values and a national identity, admire the national hero, eat the national dish and play the national sport.

and it should not be confused with the Nation as State;

Historians Benedict Anderson or the Communist author Eric Hobsbawm have pointed out that in fact, the nation-state precedes nationalism. According to their conception, nationalism is a creation of the nation-state, and not the reverse. For example, French nationalism emerged in the 19th century, once the French nation-state already constituted through the unification of various dialects and languages into the French language, and also by the means of conscription and the Third Republic's 1880s laws on public instruction. However, in countries divided into multiple states such as Germany or Italy, the sense of a common membership to the same cultural movement, as in the Volkisch movement, can be said to be nationalism, and in this case precedes the unification of the various states into the German or the Italian state.

One of the earliest, and perhaps oldest example of a nation state was the Dutch Republic (1581 and 1795).The Eighty Years' War that began in 1568, triggered a process of what we would now call "nation-building", the following circumstances/events were very helpful in this process:

And Quebec nationalism does not mean the end of Canada.It is the source of the greatest classic liberal (as in Thomas Paine the Rights of Man) political critique of the Canadian State that originated in the great Con that was the federation of 1867.

Coincidently both founding ruling classes in Pan-Canada; the English/Scottish and Irish Freemasons, and the French and Irish Catholics celebrate the summer solstice with St. Jean Baptiste/St. John the Baptist celebrations. They are the rites of Bourgeoisie nationalism.

'Fete nationale' a Canadian holiday: Harper As in Les Canadiens. Since the Canadian National anthem originated in Quebec as part of its St. Jean Baptiste celebrations.

And Quebec and Canada are federated nations, who also share a common colony; Haiti. That makes them both bourgeoise nations and Imperialist.

And behind the Harpocrites dismissal of the Quebec Nation as semantic, is his self professed status as autarch of the Canadian State.

And we know how anarchists feel about the State, and nationalism. They are last refuge of the scoundral.

The ever growing power of a soulless political bureaucracy which supervises and safeguards the life of man from the cradle to the grave is putting ever greater obstacles in the way of the solidaric co-operation of human beings and crushing out every possibility of new development. A system which in every act of its life sacrifices the welfare of large sections of the people, yes, of whole nations, to the selfish lust for power and the economic interests of small minorities must of necessity dissolve all social ties and lead to a constant war of all against all. This system has been merely the pacemaker for the great intellectual and social reaction which finds its expression today in modern Fascism, far surpassing the obsession for power of the absolute monarchy of past centuries and seeking to bring every sphere of human activity under the control of the state. Just as for the various systems of religious theology, God is everything and man nothing, so for this modern political theology, the state is everything and the man nothing. And just as behind the "will of God" there always lay hidden the will of privileged minorities, so today there hides behind the "will of the state" only the selfish interest of those who feel called to interpret this will in their own sense and to force it upon the people. Anarchosyndicalism by Rudolf Rocker - Chapter 1

But it is Rudolph Rocker (1873-1958) who, in Nationalism and Culture (1937), provides the fullest anarchist discussion of nationalism. To Rocker it is clear that 'The nation is not the cause, but the result of the state. It is the state which creates the nation and not the nation the state.' (28) This assertion becomes more plausible when he proceeds to distinguish between a 'people' - what Proudhon had called a 'folk-group' - and a 'nation'. 'A people', he explains, 'is the natural result of social union, a mutual association of men brought about by a certain similarity of external conditions of living, a common language, and special characteristics due to climate and geographic environment. In this manner arise certain common traits, alive in every member of the union, and forming a most important part of its social existence. The nation, on the other hand, is the artificial struggle for political power, just as nationalism has never been anything but the political religion of the modern state. Belonging to a nation is never determined, as is belonging to a people, by profound natural causes; it is always subject to political considerations and based on those reasons of state behind which the interests of privileged minorities always reside.' And in a passage relevant to the manifestation in recent years of both 'sub-nationalisms' and the nascent 'supra-nationalism' of some ideologists of the EEC, Rocker insists: 'A people is always a community with narrow boundaries. But a nation, as a rule, encompasses a whole array of different peoples and groups of peoples who have by more or less violent means been pressed into the frame of a common state.' 'National states' (he concludes) 'are political church organisations...All nationalism is reactionary in its nature, for it strives to enforce on the separate parts of the great human family a definite character according to a preconceived idea...Nationalism creates artificial separations and partitions within that organic unity which finds its expression in the genus Man.'Resisting the nation state

Also See: Quebec

A History of Canadian Wealth, 1914.

Rebel Yell

Origins of the Captialist State In Canada

Voting for Capitalism On January 23

The Neo Liberal Canadian State

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The Headline Says It All

Public Service Alliance of Canada reaches tentative agreement for striking Ekati diamond mine workers with Ekati owner BHP Billiton; union recommending yes vote to end strike that began April 7 to win first-ever contract at a Canadian diamond mine

Yep thats the headline from the press release. Talk about a run on sentence. PSAC has a lot to celebrate so in all the excitment I guess they just couldn't say enough about their victory at Ekati.

And they should be they faced scabs and union busting AFI private security.
Proving that we need Federal Anti-Scab legislation. Without scabs this would have been a far shorter strike than eleven weeks.



Also See:

Diamonds and Rust

Union Busters Update

The War For Chocolate

DeBeers versus the Bushmen

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The Great Escape

Theme song from the Great Escape, prisoners whistling. Recaptured Steve McQueen enters Stalag Luft 3 and the commandant simply orders; "Kooler".

It was a commendable escape by any measure: Patiently wait until the staff calls it a day; dig a tunnel under a fence; then, make a dash for love.

But after 19 days on the lam, Boo, a four-and-a-half-year-old grizzly bear that made a bid for freedom after catching the whiff of a sow, is back behind his electric fence at a refuge in British Columbia.It's just the simple bear necessities of Boo's love life

Or perhaps like the journalist who wrote this I am simply anthropomorphizing the bear story. Nah, bears are people too.

THE GREAT BEAR MOTHER

A major cult of the Bear Mother has been traced from the earliest times throughout the colder northern hemisphere, from Finland to Siberia to North America. Ritually arranged skulls of herbivorous cave bears have been discovered in caves in France and in the German Alps, which date from the time of Neanderthal humans, at least 75,000 years ago. The Great She Bear, whose animal fur, skins and body gave warmth and food to the northern peoples was revered as an awesome Ancestor Mother of human beings. The Ainu of Japan, who are descendants of early Siberian migrations, still retain their veneration of the Bear in both legend and ritual. For Native Americans the Bear is one of the guardians of the Four Directions. (Primitive Mythology by Joseph Campbell, Penguin)

The Great She Bear also reigned in the heavens. She was named in the constellation of Ursa Major which cycled then as now, around the night-time skies of the northern hemisphere each year. In Altaic, Siberian and Tibetan mythology there was said to be a direct connection between Ursa Major and the Earth via a Universal Tree, which was rooted in the earth at Shambhala. Shambhala itself is a mythical realm which lies somewhere to the north of Tibet. It is believed to be a source of the 'Ancient Wisdom'. (See 'Dawn Behind the Dawn' by Geoffrey Ashe, Henry Holt, 1992).

Also See:

Bears

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He's An Alberta Boy

Harper rules out federal carbon tax as a climate-change strategy




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Made In The USA: Reporters Sans Frontiers

Sometimes a liberal front group is well a liberal front group. And you know how much liberals want to please everyone and be loved.

This reminds me of the liberals in the sixties who spied for the CIA, like Gloria Stienhem.

Or the fact that during the house investigation into the CIA after Watergate they found that Time Magazine had the most reporters on the CIA payroll.

Although Reporters without Borders' attacks on Castro, Chavez and Aristide are perfectly alligned with the State Department's policies, and though she admitted RSF was receiving money from Reich, Morillon denied that the governmant funding the group receives in any way affects its activities. She pointed out that RSF's $50,000 payments from the CFC and a January grant of $40,000 from the National Endowment for Democracy only constitute a fraction of the organization's budget. This is true, but Menard has other rich rightist friends in Europe and the U.S., including CFC director Manuel Cutillas, head of Bacardi. CFC's executive director is Frank Calzon, another former director of CANF. Reporters Without Borders: Its Secret Deal with Otto Reich to to Wreck Cuba's Economy

Love Me, Love Me, Love Me, I'm A Liberal ....Phil Ochs

Once I was young and impulsive
I wore every conceivable pin
Even went to the socialist meetings
Learned all the old union hymns
But I've grown older and wiser
And that's why I'm turning you in
So love me, love me, love me, I'm a liberal

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The Real Headline

Should read: Seven of Flordia's Poorest Afro-Americans Busted in McCarthyite Terrorist Raid

Florida isn't that Bush country? Why of course they rigged the election for Georgie Bush II and his brother is govenor. The state is know to harbour international terrorists. No not Afro-Americans and Haitians, the Cuban Exile Community
who do blow up planes and things.

Terrorist Up For US Citizenship: The Strange Case of Luis Posada




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Harper Defends NDP

The final days of Parliament can be summed up thus;

The Liberals; It's all the NDP's fault

The Conservatives; 13 years of Liberals doing nothing

The BQ; Fiscal Imbalance, Fiscal Imbalance, Fiscal Imbalance, Fiscal Imbalance, Fiscal Imbalance, Fiscal...

The NDP; Smog Made in Canada

Best line to close this session of parliament summing up the whole silly season, goes to the Harper who said this on Tuesday, June 2o.

Right Hon. Stephen Harper (Prime Minister, CPC): Mr. Speaker, I cannot help but notice a pattern today. The Liberals seem to think that the NDP is the government. I do not know if we can allow the member for Toronto--Danforth to answer any of these questions, but what I can say is this. The Liberals seem worried that Canadians who want a left-wing party with principles are obviously not opting for the Liberal Party.

Well said sir, well said.



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