TruthDig For A Different Kind Of Truth

I recently wrote a couple of blog posts on Warren Buffett and the need for higher taxation of the very wealthy, an idea that is gaining currency in a number of countries, including France and Spain, the latter actually recently imposing a new tax on the wealthy. While conventional news formats are reluctant to pursue the issue in any depth, alternative sites for news and opinions like our own rabble.ca and Truthdig, an American-based site, are not shying away from this contentious topic.

A Truthdig article entitled Why They Hate Warren Buffett examines the backlash from the right provoked by Buffett's plea for higher taxation of people like him, and is well worth perusal.

The Guardian Writes About The Occupy Wall Street Movement

For those interested, there is a thoughtful article on the implications of the Occupy Wall Street Protest found, not in an American newspaper, but in The Guardian. Entitled Occupy Wall Street rediscovers the radical imagination, it provides both the context of the movement and its implications for the future.

For anyone fed up with the status quo and the fact that nothing substantive changed after the 2008 meltdown, it is well-worth reading.

Chris Hedges On The Wall Street Occupation

Chris Hedges, whose purity of vision and integrity I deeply admire, has an interview posted in a series of parts on You Tube regarding the Occupy Wall Street Protest and why he is part of it. Below is the first part of that interview:

The Occupy Wall Street Protest

The Occupy Wall Street Protest, now in its 12th day, has received very little coverage in the mainstream press, for reasons that seem too obvious to state. As usual, The Real News Network informs us where corporate media fears to tread. The following video offers a useful primer on the movement which, despite the fact that it is a demonstration against the excesses of American capitalism, has equal application to our country. Other video links will follow soon.

Goldman Sachs Rules The World

At least it does according to trader Alessio Rastani who, in an interview with the BBC, confesses that he dreams of recessions, [and]sees Goldman ruling the world. Remember this interview the next time someone tells you that business knows best, and that governmental regulation unfairly fetters it.



UPDATE: It has now been revealed that Rastani is not exactly who he claimed to be in the interview. According to a story carried in today's Star, he bills himself on his website as "an experienced stock market and forex trader," and later confesssed to being an "attention seeker" for whom "trading is like a hobby."

Nonetheless, his demeanour and professed beliefs seem to mirror another story entitled Traders outperform psychopaths in egocentrism and lying – but not in making money, which finds many similarities between the two, except that psychopaths seem less consistently ruthless!

One More Thought For Today.

A few weeks ago, I wrote a post on education, lamenting the fact that like just about everything else, it has become a commodity, measured almost exclusively by its ability to lead to a good-paying job. Last evening, while watching the local news, I once more had confirmation of this.

An economics professor from McMaster talked about how education gives you a much better return on the dollar than most 'financial instruments' such as stocks or RRSP's. The report went on to say that having a Masters will enhance your earning power 8 or 9% on top of a Bachelor's degree.

As I have written previously, there is nothing wrong with the idea of pursuing education for the economic benefits it can confer, but to have it considered purely in those terms, without any acknowledgement of the value of the critical thinking skills benefits than can also accrue, seems to me quite short-sighted and yet another indication of the shallowness of our times.

You can watch the full report here.

Will That Be One Smirk Or Two?

Watching the news last night, I was reminded once more of how personally repugnant my decision to vote for the McGuinty government is. I cited the reasons for my shift in yesterday's post, and although from my perspective there is no reasonable alternative in my riding, it still does not sit well with me.

During a news scrum yesterday, McGuinty was asked how much the decision to halt the still-ongoing construction of the Mississauga power plant (a decision the Premier insists was not prompted by electoral concerns) is going to cost taxpayers. His reply: “That is the subject of continuing conversation.”

He was then asked how much it had cost to halt the Oakville power plant last year after sustained demonstrations and representations by the people. His answer, this time with a smirk, was “That is the subject of continuing conversation.”

Now I realize that politicians never want to hand any ammunition to their opponents, especially during an election campaign, but the 'wink-wink, nudge-nudge' demeanour of the Premier makes us all complicit in the lie he is telling. To brazenly feign ignorance about such costs is in fact to lie to the electorate, the very people our government is supposed to be representing, and the saddest part is he realizes he can get away with it because of our natural passivity and ignorance.

My feelings of impotence and anger grow daily.

UPDATE: The Ontario Premier's professed ignorance notwithstanding, a story in today's Star puts the cost at shutting down both the Oakville and Mississauga power plant projects at about $1 billion.