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Economics-101

Let them eat cake

As much as I would strictly like to address economic topics in this article, I have to face the fact that a cast of characters plays a roll in economics today. Sadly, the reality of Adam Smith’s “Free Market Economy” does not presently exist. Government is deeply entrenched globally in the world economy. As a result, excluding commentary on politics in this article is essentially impossible. In today’s global economy, governments and economics are not mutually exclusive. Thus, I feel compelled to comment on some recent political events that that are encompassed in the global economic arena. To that end I must declare my disgust for the recent comments of Finance Minister, Jim Flaherty, as he sits atop the palace and cries out to the peasants that there are “No Bad Jobs.” This coming from a member of the perceived morally corrupt elite, who draws a salary of $223,000 per year. This doesn’t include the additional undisclosed benefits that will be allotted to Mr. Flaherty as Harper’s right hand puppet. Add to this, Mr. Flaherty is eligible for a lavish federal pension at age 55 after only six years of service. Meanwhile, Canadians have just seen their Old Age Pension start date clawed back to age 67 starting 2023. To me this smacks of Marie Antoinette’s infamous statement of, “Let Them Eat Cake.” Oh, how history does repeat.

I also have to comment on yet another G8 Summit held last weekend. Don’t kid yourself for one second; this gathering had nothing to do with addressing the global economy and what to do about the economic disaster in Europe. This was just another elitist gathering that will be chalked full of excess as the vampires try to determine how to get the last drop of blood from the middle class.

Throw into the mix the fact that the unconstitutional decision was recently passed in Quebec, which severely curtails free speech and the ability to protest tuition fees. If you listen closely, you can hear George Orwell whispering from the grave… “I told you so.” Government is preparing to silence protest before it even gets a foothold. History is chalked full of tyrannical dictators that suppressed the ability for citizens to protest. Throughout history, the elite’s first step is to severely impede the ability to protest. The second step is to give the people something to protest about. Governments were originally intended to serve the people. It seems now globally, that we the people shall serve the government and all of its wishes. And woe to he who steps out of line.

I guess the silver lining here is that globally people are waking up to the blatant oppression by government and the elitist agenda. That’s why we are seeing protest around the world on an increasing basis. Another nugget of optimism is that it has been proven time and time again that governments are at their most arrogant prior to their demise: Pride before the fall.

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.



More Economics 101 articles

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About the Author

Derrick Nicholson is a Currency Strategist. He has been in the industry for the past 20 years, and specializes in mitigating currency risk for companies doing business outside of Canada.

Questions and inquiries can be directed to Derrick at [email protected].

 



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The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

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