Thursday, March 29, 2012

All that matters is the math - but don't forget about the mathematicians

Boy and girls, one and all, austerity is here! Tighten your belts and head to the clearing house, because there just isn't enough money for that. No seriously, there isn't. For the last year I have been writing about it at my other blog Hellberta. Before that, it was in groups on Facebook.

I've been telling you the G20 was preparation for austerity because some day we will look like Greece. It's already started over multiple issues and it will spread. It's one thing talking about it, it's another living it.

Here's a riddle for you, what is both an island and not an island, sovereign but not sovereign, and indebted to private banks? Canada. Of course we need to pay down our deficit, but guess what? All of the interest on our debt isn't going to the government, or services. It's going to private banks. If you want to understand how that came about, watch this video.

If that doesn't blow your mind, try this.
The source of concern is a new U.S. regulation meant to deter deposit-taking institutions that receive backstopping from Washington from engaging in speculative trading for their own—not their clients’—profit, a practice known as proprietary trading. Risky trades by global banking giants were central to the banking crisis that compelled former U.S. president George W. Bush to launch a $700-billion bailout of Wall Street in 2008.
“I think the impact could be very, very negative,” said Canadian Bankers Association President Terry Campbell. “If you interfere with the ability of governments and corporations to fund themselves, if you interfere with liquidity in the marketplace, which is necessary for funding, then you could have a very severe impact on our economy.”
There you have it folks, our banks are not more stable. Right from the horses mouth. Yes, you've been lied to. (Update 30/04/2012: Canadian banks got $114B bailout during recession: report)

There is always this too.

Lets move on.

From the austerity is here "article":
None of this is a surprise. Everyone knew cuts were coming, and they would’ve happened no matter who was in office. 
When did they know? Last week? Two weeks ago? A month ago? A year ago no one knew. Everything was rosy, remember? "stable course" and all that jazz.
When it’s time to face the music, ideology doesn’t matter. All that matters is the math.
Yes, but whose math are we talking about? The IMFs? Structural changes are needed, but they must empower people freely and locally. Austerity and central control, police presence galore isn't to serve you and me. This is to serve those in power. The rich know exactly what's going on, and they are preparing for it while drivel like this austerity article is just meant to convince you its the only choice. That if we just give up enough of our public services someday they will all come back, better than ever.

It's time to face the music, but your math is outdated dear, and you forgot that all of that math was created by mathmaticians to service them. We're going to have to change the rules of economic growth to adapt to a world of $100+ / barrel oil but those currently winning the game are not particularly fond of that idea. So police control grid, internet surveillence, and prisons for you peasants. Don't like it? tough shit. That's austerity.
with full pensions – around 50. In Ontario, where doctors’ salaries rose 70 per cent in the past decade, the average family physician now makes upward of $300,000 a year
So, you're complaining that a family doctor can afford a decent home on a year's wage. Yea, wow.. this guy is just milking the system for all it's worth isn't he? You see the middle class? Yea, that's bad. This family doctor should be poorer but of course if we only privatized all of these problems would go away right Mr. Harper? I mean that is the next step in the IMF's blueprint isn't it? That's the blueprint you're following, like the rest of the indebted world.
Government bureaucracies are rigid, hierarchical, costly, rule-bound and unresponsive. The rest of the world is increasingly flexible, mobile, responsive, results-oriented, accountable and flat. The delivery of public services must change.
But I thought Canada was the shining model the world should follow? But now we have to follow the world? These people think you are idiots. These are the same people who have rigged the economy to self destruct in the first place. I'm not talking about the conservatives. Liberals or Conservatives have both been working towards the same thing.

The people are the most important thing, the economy needs to serve the people. If it doesn't, it needs to be changed.

Conclusion

With austerity will come unrest and with unrest comes major economic problems. The people in power have known this and have been planning for it while convincing you those numbers you see on the equity markets actually mean something regarding economic health. The only real solution to this problem is to liberate the people to solve their own problems. You have to decide to get a solar system for your house, no white knight will get it for you. You have to store food and water should long term power outages occur. "Austerity" is just a cover for the rich taking what little wealth you have left through private loans. It does nothing to address the problems we actually face.

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Richard Fantin is a self-taught software developer who has mostly throughout his career focused on financial applications and high frequency trading. He currently works for eQube gaming systems.

Nazayh Zanidean is a Project Coordinator for a mid-sized construction contractor in Calgary, Alberta. He enjoys writing as a hobby on topics that include foreign policy, international human rights, security and systemic media bias.

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