Commentary on the economy and politics
The next recession is overdue. In April 2013, I wrote about the soaring Stock Market and progressing economic expansion. I assumed then that the next recession would start in 2014-15 based on National Bureau of Economic Research data indicating an average business cycle of 66 months. Today, four years later, over 84 months since the […]
Why aren’t university leaders leading? They are allowing students to push insane, bizarre, politically correct ideas on everyone in their universities (and colleges). To be sure, university leaders must be careful not to dismiss as political correctness (PC), valid responses by certain groups to subliminal, unconscious, biased behaviors. Racism and sexism are pervasive in society, and sometimes folks aren’t conscious of […]
Greece does not have a financial problem—that’s the symptom; it has major structural issues that more loans won’t solve. Greece has been here before; the country was bailed out in 2010 with accompanying austerity measures that contributed to the current financial strain. Undoubtedly, a difficult journey lies ahead.
Burger King and Tim Hortons’ proposed merger ignited calls for more government involvement in failed corporate welfare programs. Happily, a few voices, mainly Republicans, pointed to the real issue that needs addressing: ineffective corporate taxation policies that’s nudging companies to relocate abroad, and causing them to retain significant cash outside the USA.
Ontario Premier Wynne has the solution to ensure Ontarians retire with decent pensions…force them to join an Ontario government designed plan! This Liberal government has a track record of waste, incompetence, borrowing, lying, and general ineffectiveness; yet, Wynne believes she and her government know what’s best for the population.
How could a responsible individual or group justify using taxpayers’ funds to buy 30 chairs at $2,500 each? Type of chairs, history, ambience, are irrelevant. The only concern must be the source of funding–we the people. Firing the person responsible does not deal adequately with the underlying cause. A toxic system, a prodigal mindset, disregard for people’s finances, are a few reasons this waste will endure.
Public servants, like government ministers, don’t get fired for incompetence and waste. The current poster child of waste and ineffectiveness is former Ontario Premier Dalton McGuinty who along with his rogues slapped a half billion dollar bill on taxpayers to win seats in Ontario’s recent elections. In the process they broke the law by deleting emails. Will they account for the wasting funds and their illegal acts?
Isn’t the United States the bastion of capitalism? The country where folks aspire to the American dream? It’s sprouted corporations like Apple, Microsoft, Amazon, Whole Foods, Walmart; but today it seems to be sputtering. Many home grown corporations are finding greener pastures abroad because, among other reasons, the United States has the highest corporate tax rate in the world. Not only is the corporate tax rate highest, but the tax code is cumbersome, and the tax system operated by unionized bureaucrats determined to bully selected groups.
Will the mission $3.1 billion irritate Canadians so much they start demanding effective performance from provincial and federal governments? The auditor general says the Canadian government was unable to account for 3.1 billion Canadian dollars of anti-terrorism funding. Instead of being outraged, Prime Minister Stephen Harper retorted that the report had nothing to do with the improper use of money, but rather ‘how the spent money is categorized.’ What a pathetic reaction!
The situation in Cyprus reminds us that we must wake up and demand an end to governments’ waste, and a start to proper budgeting and budgetary control.