If government austerity (and austerity is a relative term in Europe) is blamed for a recession, it's pretty clear that the real problem is a fundamentally weak economy. Borrowing money from China to pump up economic activity only creates a bubble of false prosperity. You can make the bubble larger until it explodes--when nobody else is willing to lend the country money, or when printing more money results in runaway inflation--or begin deflating it.
Keynesian economics involves using money saved up in times of prosperity to prime the pumps during a weak economy. It never prescribed wholesale borrowing to keep an economy afloat for a decade.
Sadly, all too true, Macfury. I found the CBC documentary item on The National re Italy shocking. I loved traveling around Italy, and found the people friendly, but how their small business system if hand-cuffed in a "guild system" that is tightly controlled is beyond belief. If you and I were trained and certified to open up our own pharmacy, we could here in Canada, but not in Italy unless we were acceptable to the guild. Thus, new economic growth from small businesses is stagnant.
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Actually 'twas buying a lot of expensive weaponry and mortgaging the farm to do it. Sadly a route also favoured by the harper Regime. The proposed solution of putting all the seniors out to sea on rafts or icebergs is what is truly despicable and yes scary.
This makes no sense. European military spending is highest in Britain and France at a mere 2.7% of GDP. Canada sits at 1.5%.
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Sadly, all too true, Macfury. I found the CBC documentary item on The National re Italy shocking. I loved traveling around Italy, and found the people friendly, but how their small business system if hand-cuffed in a "guild system" that is tightly controlled is beyond belief. If you and I were trained and certified to open up our own pharmacy, we could here in Canada, but not in Italy unless we were acceptable to the guild. Thus, new economic growth from small businesses is stagnant.
I recall a few years back that France had finally ended a century-long monopoly on dry-cleaning, of all things. It's surprising to see the constraints on business practices we see as fundamental.
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Stephen Harpers government is starting to show its age.
The Prime Minister has led the country for six years. He has outlasted 11 of his predecessors, including John Diefenbaker, Lester Pearson, R.B. Bennett, Alexander Mackenzie and Paul Martin.
He is still going strong; passing legislation, reshaping national institutions and firmly controlling the political agenda. But a telltale sloppiness is creeping in.
This is the point at which the Prime Minister either renews his government or lets the small mistakes the ethical lapses, the hyperpartisanship, the unilateral pronouncements, the dubious accounting, the displays of arrogance turn into costly, corrosive habits.
The problem is correctable. But Harper has taken no action to correct it.
Four of his cabinet ministers have violated the public trust so brazenly that they should be demoted or dismissed.
Defence Minister Peter Mackay used a $32,000-an-hour search-and-rescue helicopter to ferry him home from a remote fishing lodge in Newfoundland. He was missing inaction as the price of a government purchase of state-of-the art fighter jets ballooned. He is still fudging the cost.
Industry Minister Christian Paradis has been investigated three times by Parliaments ethics commissioner. He was found guilty of conflict of interest in one case. Two rulings involving government construction contracts are pending.
International Development Minister Bev Oda has been caught three times reaching into the public purse to indulge her taste for luxury hotels, limousines and other expensive perks.
Treasury Board President Tony Clement used an infrastructure fund earmarked for border improvements to scatter goodies across his riding: a gazebo here, a monument there, a bandshell in the next town.
Two ministers are liabilities for nonethical reasons. Public Safety Minister Vic Toews doesnt recognize the line between defending law and order and throwing around irresponsible allegations. (He accused critics of his online surveillance bill of being child pornographers.) And Aboriginal Affairs Minister John Duncan is unfit for his job. He was embarrassingly inept during last winters housing crisis in Attawapiskat.
That adds up to six incompetent/ethically challenged/unreliable performers on Harpers front bench. Very few corporate CEOs would countenance that level of unprofessionalism on their executive teams.
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I recall a few years back that France had finally ended a century-long monopoly on dry-cleaning, of all things. It's surprising to see the constraints on business practices we see as fundamental.
I believe that small businesses are the main life-line to get employment moving in a country. Thus, restricting the creation of these small businesses is counter productive. This is why I try to shop locally from small businesses, or at least from Canadian-owned companies.
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Dr.G.
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"The man who does not read good books has no advantage over the man who can't read these books." Mark Twain
Yup, the world is sure coming to it's senses...LOL The French never learn...
Quote:
Francois Hollande, 57, who dislikes the rich and wants to revolutionise his country with high taxes and an onslaught against bankers, is in fact hugely wealthy himself.
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He does not hold a candle to Mitt Romney. Hopefully, the American voter will not make the same mistake as the French voters, and they will return Pres. Obama to the White House for another term. We shall see.
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Dr.G.
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"The man who does not read good books has no advantage over the man who can't read these books." Mark Twain
The mistake of French voters was electing a socialist to office at a time when some degree of austerity is required. Re-electing Obama would duplicate the error of the French.
Meanwhile, back in Greece--hello Drachma!
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"The Germans have not yet realised that southern Europe, including France, will be forced by their current misery to fight back against German hegemony sooner or later," he said, blaming much of the crisis on Germany's wage squeeze to gain export share.
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