December 18,2013 am
Over the past two days on Canada’s BNN(Business News Network) I heard that Canada’ s family indebtedness has reached a record 163% of gross income, and that the Province of Ontario has recently sold 6 billion dollars of bonds to eager American investors to finance its tax secure triple A minus provincial debt. I also heard that there has been no serious inflation in Canada or the US since 2008 because the Core CPI does not include rising food especially anti diabetes vegetable prices; and resources fees such as energy(+7% electricity) and water or services such as the arbitrary more than 50% rise in the postage stamp price announced with a cut back in mail delivery service.
I also heard that Ontarians despite their families’ 163% debt to income ratio and downtown Toronto’s more than 30 years of street people are wealthier than ever with their highest net worth on record. I also heard a statement about a corporate investment recession as corporations sit on money, frugally investing in dividends and stock buy backs while fearing investment in employment increasing research and development because there are not enough people to buy their products at their less than inflationary prices.
Then yesterday(December 17) evening I read Paul Krugman‘s December 15 article “Why Inequality Matters” in which he begins by alluding to the 1987 movie Wall Street, though maintaining that today with his article and the recent arrival of Democrats Warren and De Bassio, and recent comments by Democrat president Obama that perhaps at last inequality really matters.