A Few Links in the Chain

I’m going to track some of the the websites I visit today. As usual, I start out the morning at the Globe and Mail site.

Lawrence Martin on Ignatieff’s shadaow cabinet.

The kitchen cabinet members, a veteran group to contrast the leader’s newness, include Bob Rae, Ralph Goodale, David McGuinty, Ujjal Dosanjh, Marlene Jennings, Denis Coderre, Albina Guarnieri and Roger Cuzner.

An article on “Starving Artists” and incomes

The findings of the 43-page study, prepared by Hill Strategies Research of Hamilton for Canadian Heritage, the Canada Council for the Arts and the Ontario Arts Council, are derived from the 2006 census. It identified 140,000 Canadians as artists – defined as those who spent most of their working time in nine occupational categories, including actors, dancers, authors/writers, visual artists and producers/directors/choreographers.

The study reports that artists over all are working for near-poverty-level wages, with an average annual earnings in calendar year 2005 of just $22,731, compared with $36,301 for all Canadian workers – a 37-per-cent wage chasm.

Then a little further afield:

Andrew Sullivan’s Daily Dish is a regular stop for me. Today I feel the need to highlight the words of someone named Amy Wellborn on the Catholic Church, though to me this quote is about pretty much all religion that I have ever encountered or heard of.

“Secrecy, hero-worship, deification of individuals, reflexive dismissal of critics as wrong-headed or even of the devil, an untoward interest in money and appearance, manipulation of members, demeaning attitudes toward non-members, deceptive means … trouble.’

 Now over to Global Research where  Michel Chossudovsky has writen an interesting post on the October/08 $75 Billion  handout to Canadian banks that appears to have been almost completely  un-noticed by the Canadian people and the Canadian press.

The recipients of the bank bailout are also the creditors of the federal government. The chartered banks are the brokers of the federal public debt. They sell treasury bills and government bonds on behalf of the government. They also hold a portion of the public debt..  

In a bitter irony, the banks lend money to the federal government to finance the bailout, and with the money raised through the sale of government bonds and T-Bills, the government finances, via the CHMC, the bank bailout. It is a circular process. The banks are the recipients of the bailout as well as the creditors of the State. The federal government is in a sense financing its own indebtedness.

While the Canadian bailout procedures differ from those of the US Treasury under the Troubled Assets Relief Program (TARP), they essentially serve the same purpose. Both programs contribute to bank centralization and the concentration of financial wealth. 

Under TARP, some 700 billion dollars bailout money was allocated to major Wall Street banks. Canada’s population is slightly less than 11 percent of that of the US. The numbers are consistent. The 75 billion dollar Canadian bailout is slightly less (numerically US dollar for Can dollar) than 11 percent of the US 700 billion bailout under TARP.  

Of course the press knew about it – they just decided it was no big deal.

 I’ll update this  as the day progresses.

Update 1: Well, I’m bored with this idea already. Time to turn attention to music editing and writing.

Carry On.


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