One significant benefit that this depression gives is a freedom. With the icons of free enterprise suddenly needing help, despite the "economic efficiency" of the Capitalist system, attacks against socialists and socialists have taken a quiet turn. As the ship sinks the cries for help raise for government funds to keep their efficient companies working.
Banks executive managers totally screwed their shareholders, employees, and clients. skimming huge monies via the bonuses excuse they lined their pockets. In Canada, there is the understanding that bankers are above accusation in criminal courts. While in the US bankers fear a total melt down of companies leaving them open to criminal law. In Canada such law might even exist but will never be employed.
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As I predicted on the first day of the so-called 'financial crisis', Stephen Harper and Jim Flaherty are happily handing out billions of taxpayer's dollars to the wealthiest people in Canada - after the election. The banks got their first installment of many billions and now the auto industry wants to get their snouts into the trough.
Guess who's first in line? Guess who'll get their Welfare payments first? Chrysler owes top executives about $30 million in retention bonuses.
Anyone want to bet against me? Come on, I could use the money!
The difference between the US and Canada is the amount of noise the media and the politicians are making. In the US, the media needs to compete, so they highlight the drama of it all and the US politicians need to get themselves re-elected, so they're pretending to represent the citizens.
Not so in Canada.
In Canada, the media is very quiet about the whole thing and as far as I can tell, there isn't a single politician or Party who thinks this is a bad idea; handing over all the rest of the wealth of the country to the already wealthy.
As a citizen of Canada and the world, I don't think I've ever been more disgusted by such an obvious scam. This time, they've outdone themselves.
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