Category: Great Moments In Socialism

Jobs? What Jobs?

One possible reason why the marginal consumer is tapped out and reluctant to spend is because he’s no longer employed.

Canada’s unemployment rate jumped to 6.6 per cent in August, Statistics Canada said on Friday, more than economists expected as the labour market added a net 22,100 jobs largely in part-time work.

The unemployment rate is now at its the highest level since May 2017, outside of the COVID-19 pandemic, as job growth has failed to keep up with a surge in Canada’s population.

But not to worry. The Bank of Canada will just slash interest rates and fix everything.

Traders in overnight index swaps boosted bets that the Bank of Canada would need to cut by 50 basis points at its next meeting in October, according to Bloomberg data.

Economic Headwinds

So much for “normalizing” interest rates. When even the mainstream financial media is picking up on the idea that interest rates are not only going to fall, but fall quickly, you just know that a recession is baked in the cake.

Billionaire John Paulson said the Federal Reserve has waited too long to cut interest rates and expects the central bank to lower them in the months ahead.

By the end of next year, “my best guesstimate would be around 3%, perhaps 2.5%” for the federal funds rate, Paulson, 68, said in an interview on Bloomberg Television.

The City They Voted For

Vancouver Sun;

A man with a history of mental illness, violent offences and more than 60 police interactions across the region was identified as a suspect Wednesday in unprovoked attacks in downtown Vancouver that left one man dead and another with a severed hand.

Vancouver police said they couldn’t identify the 34-year-old White Rock man as he hadn’t yet been charged.

“What I can tell you is this appears to be a very troubled man who has a lengthy history of mental-health-related incidents that have resulted in 60 documented contacts with police throughout Metro Vancouver,” Police Chief Adam Palmer told a news conference.[…]

Officers found a 56-year-old man nearby who had been attacked with a knife on the steps of the church and bleeding from his head. The victim’s left hand had also been cut off. He was taken to hospital and was expected to survive.

Eight minutes after the first attack, officers rushed to Queen Elizabeth Theatre at West Georgia and Hamilton streets where another man, believed to be about 70 years old, was attacked. He died at the scene.

Eat some eyeballs, apply for a name change and you’re golden, son.

“This is a population rife for Leftist hatecraft …”

A thread by James Lindsay.

As many of you know, I’m currently reading (when I have time to read) about the historical facts of Mao’s Cultural Revolution, which are shocking. We know our kids are being made into a new Red Guard, but as I learn, I see it far more in the illegal aliens in our countries.

The details about how Mao, together with his general Lin Biao and propagandist Chen Boda, were able to build (1962-1966) and then unleash (June-August 1966) the Red Guard in China, especially Beijing, did not make me think of our brainwashed kids. They remind me of “migrants.”

Aside from the raging Communist hatred and focus on the person of Mao, there are two key forces that created the Red Guard:
1) A “dreamer” population whipped up against class enemies, that’s new to the population (kids in China)
2) A two-tier legal system protecting them.

In China, Mao unleashed relentless propaganda, with the help of Lin and Chen, mostly targeting children, that
(a) extolled revolutionary heroes and martyrs
(b) decried secret class enemies through all the ranks of society.

Elon Musk vs. Corrupt Brazil

Michael Shellenberger chimes in.

Update: Right on cue, the little dwarf, Robert Reich, is calling for Elon Musk’s arrest in the UK. Interestingly, he’s ashamed to post a link to his article on X.com. But people instantly connected the dots and are lighting him up big time!

Dispatches from the Maple Gulag Truck Stop

 

Yesterday evening, Thursday August 29, saw the end of sentencing hearings for Tony Olienick and Chris Carbert at Court of King’s Bench in Lethbridge, Alberta. Those hearings lasted four days, with both the Crown and Defense presenting various arguments for what they believed would be appropriate sentences regards the minor charges both men were found ‘guilty’ of in relation to the major charge of ‘conspiring to murder police officers’, for which they were found NOT GUILTY.

Final sentencing has been adjourned until September 9th, as briefs were submitted by the defense late on Wednesday evening, to my mind possibly related to the very concerning rhetoric of Justice Labrenz which was heard on Tuesday.

More here…

Broken Landing Gear

Economist Frank Shostak offers these insights as to how an economy comes to be saddled with massive malinvestments (EV plants come to mind) which must eventually be liquidated in a painful recession.

Whenever a central bank tampers with financial markets and manipulates the market interest rates this falsifies individuals’ “instructions” to businesses. As a result, businesses invest in the wrong infrastructure (i.e., not in line with individuals’ priorities). This ultimately undermines the process of wealth generation.

For instance, the central bank lowers the market interest rates while individuals have not lowered their time preferences. This means that people have not increased the supply of real savings. Businesses, however, attempt to increase investments in response to the central bank artificially lowering the interest rates. This will fail since there are not enough real savings to fund the buildup of the capital structure at that time.

How Deep, Señor Maduro?

All is unfolding as prophesized.

One of Venezuela’s top election officials, in a declaration sure to jolt the crisis-weary nation, said in an interview that he had no proof that Venezuela’s authoritarian president won last month’s election.

Since the July 28 vote, governments around the world have expressed skepticism, and even outright disbelief, over President Nicolás Maduro’s claim to victory. But the statement by Juan Carlos Delpino — a member of the government body that announced Mr. Maduro’s win — represents the first major criticism from inside the electoral system.

Speaking on the record to a reporter for the first time since the vote, Mr. Delpino said he “had not received any evidence” that Mr. Maduro actually won a majority of the vote.

Neither the electoral body nor Mr. Maduro has released tallies to support assertions that the president won re-election, while the opposition has published receipts from thousands of voting machines that show its candidate, Edmundo González, won an overwhelming majority.

In declaring Mr. Maduro the winner without evidence, the country’s election body “failed the country,” Mr. Delpino said. “I am ashamed, and I ask the Venezuelan people for forgiveness. Because the entire plan that was woven — to hold elections accepted by all — was not achieved.”

Sean Penn was a man before his time.

Best Healthcare System In The World

Sun- ‘We are watching the collapse of our system in real time’

It’s now routine for patients to wait 10 to 15 hours for care, a potentially dangerous situation said Katz, who works at St. Boniface Hospital — noting bottlenecks aren’t in emergency departments, but rather in patient outputs.

Good thing there’s a new Sheriff in town.

Average ER wait times have gone up by almost an hour since the NDP took office, said PC Health Critic Kathleen Cook. Despite campaign promises, there still isn’t a concrete plan from the NDP to address staffing shortages, she said.

“We are 10 months in, and really all we’ve had so far is a listening tour,” she said.

Pavel Durov Arrested In France

Guardian;

Pavel Durov, billionaire co-founder and chief executive of the Telegram messaging app, was arrested at the Bourget airport outside Paris on Saturday evening, TF1 TV said, citing an unnamed source.

Durov was travelling aboard his private jet, TF1 said on its website, adding he had been targeted by an arrest warrant in France.

The 39-year-old is understood to have been travelling from Azerbaijan and was arrested at about 8pm local time (6pm GMT).

Durov was expected to appear in court on Sunday.

The Russia-born entrepreneur lives in Dubai, where Telegram is based, and holds dual citizenship of France and the United Arab Emirates.

@ShadowofEzra;

Telegram founder Pavel Durov recently revealed to Tucker Carlson that the FBI approached a Telegram engineer, attempting to secretly hire him to install a backdoor that would allow U.S. intelligence agencies to spy on users.

The FBI also hired agents to infiltrate ‘anti-vaxx’ Telegram groups, with FBI contractors creating multiple fake online identities to join chatrooms run by groups opposing vaccine mandates.

Mike Benz provides background.

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