A brilliant analysis of my 2006 campaign writing!

DennisTate · Jan 15, 2016

This may seem like putting the cart before the horse... .but I just got back such a phenomenally well thought out analysis of my 2006 campaign writing that I am in something of a state of awe here!

thinkitout said: ↑

I am flattered that you would ask my opinion on this, but having a particular disdain for the "science" of economics, I can only offer that opinion from a logical perspective.
First of all, I would like to say that I concur with most of your analyses; in fact there are so many almost word-for-word similarities between your 2006 campaign blog and a book that I published years later that I hope you don't sue me for plagiarism. However, getting back to your theory, allow me to continue:

In the U.S., the finance industry contributes about 10% to our GDP. It is probably more in Canada, but is this addition really a positive indicator of universal prosperity?

I see the real culprit, though, as the stock exchange. Workers and consumers are no longer the principal concerns of the corporate sector, who are now focusing all attention on investors.

We need to consider the working relationship between the corporate sector, the financial sector, and the stock market. Stockholders seeking investment opportunities search for corporations with steadily increasing profits. In order to meet this criterion, corporate entities seek to continually reduce labor costs and frequently raise the prices of their products. Since workers are also consumers, they lose in both roles, while corporate enterprises and stockholders rack up huge profits by exploiting average American citizens to the fullest extent possible.

To make matters worse, the financial sector enables consumers to buy items that they cannot afford immediately on a payment plan. This helps the corporate sector by increasing demand and sales volume, thereby enabling higher prices, and also allows the financial sector to double or triple its investments through high interest rates and other finance charges. This inevitably decreases the already limited buying power of the consumer, forcing him or her into further indebtedness when credit is needed to finance basic necessities.

Workforce surplus = lower wages

Elimination of competition = higher prices

Higher dividends for stockholders and higher executive salaries and bonuses = lower payroll distributions and skyrocketing prices.

Regardless of what the experts say, inflation is primarily the result of greed.

You analogy concerning overconsumption is of particular importance in the analysis of our economy. We practice conservation of our natural resources, trying not to use more than we need, and recycling is highly recommended. We should adhere to the same principle with our economic resources, which are also finite. Money hoarded by the very wealthy is equivalent to waste, not being recycled, resulting in a rapidly growing insufficiency of capital available to the general public. This inevitably increases our outstanding indebtedness, and it is inevitably the responsibility of government to address this situation. On a final note, I see no ethical reasons why extreme surpluses should not be subject to additional taxes, rather than the government being forced to borrow from them.

I applaud your desire to serve your community and wish you the best of luck in future endeavors.

Incidentally, I am not a stalwart defender of President Obama because of his accomplishments, but rather his sincerity and integrity, and I am proud to be counted among the Americans who Gallup reported rated him THE MOST ADMIRED PERSON IN THE WORLD.
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DennisTate · Jan 15, 2016

And now of course I must give you a copy of the writing that was being commented on:

www.BankingSystemFlaws.blogspot.ca/

June 13, 2006 Pictou Centre Campaign Writing

My name is Dennis Tate. I lived most of my forty seven years in West Lochiel Lake, Guysborough County. I am running for MLA as an independent in the area of Pictou Centre so that I can help as many people as possible become more aware of what I am sure is the real reason why our roads are in disrepair, why hospital beds are unused, why so many of the rural schools have been shut down, why our soldiers in Afghanistan are poorly equipped and why many if not most of our young people may have to leave Nova Scotia to find jobs.

When well trained workers have high quality technology to work with then the total of all wages and benefits paid out to employees is only a fraction of the retail value of the products they produce. As a result of this fact the only way to move products out of warehouses is to extend higher and higher levels of credit. One problem with an abundance of red ink is that compound interest on all this government, business and personal debt over a period of decades will grow to astronomical levels. At this time there is approximately TEN TIMES as much debt in Canada as there is money. A simple explanation for how this happened can be seen here:
http://www.michaeljournal.org/plenty34.htm

In my opinion this rather simple mathematical problem is perhaps the number one cause of inflation in the Canadian economy over the past three decades. This is also perhaps the number one reason why our costs of production are so high and Canadian products cannot compete on the world markets as well as they could under better conditions.

From 1940 to 1970 the Government of Canada put roughly half of the total money supply into the economy through loans issued through the federally owned Bank of Canada. Provincial and municipal governments could borrow the money to build roads, schools, hospitals and sewage treatment facilities at zero or one percent interest. In 1970 we changed our system and since that time a higher and higher percentage of all government debt is financed through loans issued through privately owned banks. At this time it is ninety eight percent. This policy may be great for our banking sector but it was estimated that in the one year of 1995 alone our federal government could have saved roughly SIXTY FIVE BILLION DOLLARS in interest payments if we had gone back to creating half the total money supply through these low interest rate loans issued through the bank that is OWNED BY ALL CANADIANS.

Considering that our deficit was approximately thirty billion dollars for that year, simply by changing back to an already proven monetary and banking system, we could theoretically have had a FEDERAL BUDGET SURPLUS OF THIRTY FIVE BILLION DOLLARS in 1995.

The massive cutbacks in the Canadian military, in health care, highway construction, social programs and education were profoundly affected by these accounting practices?

So what can you and I do about this problem?
1. If we will do our homework and study this question we can put pressure on our provincial level politicians to create a provincially owned bank. A true Bank of Nova Scotia owned by all Nova Scotians could be used to finance town and municipal government projects at zero or one percent interest just as The Bank of Canada used to do.

2. Town and municipal government officials in New Glasgow, Stellarton and Trenton should seriously consider creating a local currency unit such as has been done in Ithaca, New York.
https://en.wikipedia.org/wiki/Ithaca_Hours
This is a great way to promote local businesses and help sustain rural economies.

3. It is also possible for groups of concerned individuals to get together and organize a local barter exchange as a cooperative. Mr. Rob Assels has been instrumental in just such an initiative in the Tatamagouche and River John area so surely we can get similar organizations up and running here in New Glasgow, Pictou, Stellarton, Trenton and Westville. Here is a link into the Halifax LETS system:
(halifaxlets.com/)

Let’s discuss the various options available on the Pictou County Portal Message board. If you have trouble using this technology maybe you could hire a young person to help you get started?
(pcconnects.ca/portal/c/portal/layout)

I just completed the first year of the Information Technology Program at Stellarton Campus of NSCC. I am running in Pictou Centre because I know that the towns of New Glasgow, Stellarton and Trenton have the people, the industrial base and the technological capability to become powerhouses of job creation not only for this area but also for all the surrounding regions.

“The wealth that is in the city comes from the countryside.”
Creating new jobs in New Glasgow, Stellarton, and Trenton will ultimately depend on job creation in the surrounding rural areas.

Thank you immensely for taking the time to consider these points. By deciding to vote for me on June 13 you will be sending a clear message to the various political parties that you want them to take a serious look at these flaws in our monetary system and at these possible remedies. From now on if a politician tells you that they have to close down a school because of budgetary restraints, you may know far more about what is really happening than they do.

Warmest regards,

Dennis Tate
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The original question and answer appears in posts #151 and 154 here:

http://www.politicalforum.com/polit...ngs-can-you-say-about-president-obama-16.html

What positive things can you say about President Obama?

DennisTate · Jan 15, 2016

The full question being asked is also quite relevant:

DennisTate said: ↑

Truly an excellent answer on all this!

I would love to get your response to my theory on what may have gone wrong with central banking policy up here in Canada?

http://www.politicalforum.com/canad...e-elliott-trudeau-save-world-environment.html

Did P. M. Pierre Elliott Trudeau save the world environment?

This is actually a quite serious question.

P. M. Trudeau made an error back in 1974, that may well come to be understood as one of the most important mistakes ever made by a political leader.

When P. M. Pierre Elliott Trudeau took Canada off the gold standard, (which incidentally had to be done for many valid reasons), a miscalculation was made that is the number one reason why our national debt has spiraled out of control.

But..... there is a very good side to this because all of us know that we humans have been in a somewhat similar mentality to our ancestors who shot, boiled, barbecued, roasted and fried passenger pigeons into extinction.

We are highly prone to OVER Consumptionism............. I addressed part of the background issues back in my 2006 provincial level campaign as an independent.

www.BankingSystemFlaws.blogspot.ca/
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DennisTate · Jan 16, 2016

Wow!

Another amazing answer that I have already re-read and am about to read again for the third time:

(post #174)....

http://www.politicalforum.com/polit...ngs-can-you-say-about-president-obama-18.html

thinkitout said: ↑

If you intend to reinitiate your campaign, I would like to reinforce my reflections on the stock exchange in the hopes that you will promulgate them.

Corporate exploitation, motivated by stockholder demands, has made it impossible to perpetuate a sustainable market.

Our economy is now dominated by corporate entities, subsidized by the stock market, which have sufficient funds to enable them to make their businesses grow, become more cost efficient, and buy out or bankrupt their smaller competitors. Exclusivity by eliminating competition and possession of patent rights allow arbitrarily high price-setting. Profits made are divided between stockholders, CEOs and their top executives. Lower-paid salaried and hourly employees are more or less a fixed cost and usually do not receive additional compensation for increased profits. Measures designed to maximize profits to make corporations appear more attractive to the stock market traditionally involve minimizing labor costs by layoffs, automation, reduction of employee benefits, and outsourcing of work to take advantage of cheaper labor in foreign countries. But, supposedly to stimulate the economy, the corporate sector has been given special tax breaks which further reduce the governments ability to fund its budget.

Higher profits realized by this corporate sector have not provided the labor force with a proportional share of benefits, resulting in an ever- increasing imbalance in our economy. Is it really fair that stockholders and executives are rewarded for the successes of the corporate entities, while the hard work and dedication of the productive employees who are directly responsible for those successes do not justify additional compensation? Their only reward is that higher goals will be set for them to achieve.

Wages that are not sufficient to purchase overpriced commodities is the main reason for our overuse of credit and high interest rates. Regulation of the stock market possibly could limit the investment opportunities of some from translating into indebtedness in others. The symbiotic relationship between big business and the stock exchange cannot be allowed to totally consume our economy.
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A brilliant analysis of my 2006 campaign writing!

DennisTate Well-Known Member Past Donor

DennisTate Well-Known Member Past Donor

DennisTate Well-Known Member Past Donor

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A brilliant analysis of my 2006 campaign writing!

DennisTate Well-Known Member Past Donor

DennisTate Well-Known Member Past Donor

DennisTate Well-Known Member Past Donor

DennisTate Well-Known Member Past Donor

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