This rant is brought to you by James Tobin, an experienced investor and retired university professor who has many years of knowledge in economics.
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My argument today will focus on the dismal effects of a liberalized fascist ideology. Where the state takes from society to beef up the bottom lines of large multi-national corporations. This wrong brained theory allows that the corporations will, in all their benevolence, look after and carefully husband the resources that have been wrestled into their control for the betterment of the people.
As previous owners of the forests through crown corporations we, the people, had ownership but now very large tracts of crown land are offered as transfer, to sweeten the deal for the new private owners, who can be foreigners.
National jewels in mining such as Inco, McMillan Bloedel, Potash Corporation are/were extremely valuable properties which other nations lacking resources are only too happy to exchange bits of paper for in order to control. The real goods that these commodity corporations produce will be in ever increasing demand as billions of individuals leave the farm and head toward the cities where housing, stores and factories demand real goods, to build and to run.
The idea that the monopoly money created out of thin air and quite frankly is only really as valuable as the paper it is printed upon as a comparative value is a farce. Governments appear to be bent on pleasing the world stage and showing these eager gluttons, purchasers with fiat currency in hand, that we are not some third world country with the simple belief that valuable resources should be retained and husbanded with the people, the citizens, of that country. If these giant speculators, hedge funds and banks, continue mammoth amounts of leverage in order to capture huge returns continues apace, we will experience a real life game of monopoly where one hedge fund or bank will end up owning everything.
These are peculiar times when some favored team players are encouraged to over leverage their bet while any misplaced bet will be bailed out by the very citizens who are asked to look the other way as their crown jewels are squandered by a government of the people by the people.
I question why a person of such dubious financial and moral behavior as Donald Trump is still acknowledged as a somebody after his many bankruptcies. I would like to ask a previous Prime Minister of Canada, Brian Mulroney, where is the gold that anchored our fiat currency or the money that Canada received from the sale of Air Canada, Canadian National railway or other national treasures as they were sold to paper over a very grand national debt trying to make the mess he left look better than it was.
What I am arguing today is when will the real people embrace a form of capitalism that includes them. Why we, the citizens, do not understand that bigger is not necessarily better when it comes to choking the citizens with the fumes of cutting corners, choking the citizens with the ill effects of high inflation, choking the citizens with the so-called business cycle depressions, choking the citizens with lies,deceit, ignorance and incompetence and choking the citizens as they are sliding on that slippery slope of decreasing wages and collective control while the too big to fails keep siphoning off the cream leaving the citizens the skim milk.