Gene's Footnotes

I have never been impressed by the messenger and always inspect the message, which I now understand is not the norm. People prefer to filter out discordant information. As such, I am frequently confronted with, "Where did you hear that...." Well, here you go. If you want an email version, send me an email.

October 16, 2011

Removing individual freedom.

I have talked about the provincial medical systems of Canada. I wrote about the Englishman who could not get his leg reset in order to back to work because the state would not pay for it as he continued to smoke,  but here is a different glimpse into our happy socialist future.

Irene, living in Toronto who recently was driven to reacquire her U.S. citizenship in time to see us move to the left of everyone, and I were conversing about guns and protection, a common thought, these days, as you will see if you hang around a Walmart hunting section, when she mentioned even with a legal gun you can't shoot someone who is threatening you on your property.  I wrote that in New York, one that person is in your house, you can shoot them with immunity.  Can it be otherwise in Canada?

Yes, ever so sadly, even if someone comes into your house or business and harms you. In this jurisdiction a business man with small grocery store fought a burglar, tied the burglar up and held burglar til police came. Store owner was charged with kidnapping. No kidding. That's where we are now in wonderful post modern Ontario.


Perhaps, you can see the point of the insane political activity we are witnessing. It is all geared to control people through their own philosophical desire to permit the views of others and, yes, there are people behind it. They are a long way up the ladder and the are not politicians, ultimately, they use politicians, who are so easy to be bought.

It just struck me that the theme of "O Canada," a pleasant anthem one can both remember and sing, strikes a philosophical discord for the individual. The frame of reference is subtle, but revealing. It seems very old-Europe/British:

O CANADA


O Canada! Our home and native land
True patriot love in all thy sons command.
With glowing hearts we see thee rise
The true north, strong and free
From far and wide, O Canada
We stand on guard for thee.
God keep our land glorious and free
O Canada! We stand on guard for thee
O Canada! We stand on guard for thee.

If you don't see what I am saying, permit me to add the final stanza because we do not sing it and you will read it without standing with your hat over your heart. Understand what (a few) people are singing about:

Oh! thus be it ever, when freemen shall stand
Between their loved home and the war's desolation!
Blest with victory and peace, may the heav'n rescued land
Praise the Power that hath made and preserved us a nation.
Then conquer we must, when our cause it is just,
And this be our motto: "In God is our trust."
And the star-spangled banner in triumph shall wave
O'er the land of the free and the home of the brave
!

The difference is, Do you belong to and work for a country or is it an embodiment of free people? There is a real difference.


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August 13, 2011

Financial Post on Gold


I am in Toronto, which is why you cannot find me.  

Canadians still read or, at least, many papers seem to think so. You learn much about the U.S. reading local papers.  There are things our government is doing that I have not seen reported in the U.S., all part of building a massive web around the people. 

I located the article below when I searched for today's article (they delay publication online) about the Canadian experience in the 1990s, when I lived here, when a massive new tax system, a national sales tax on goods and services called the GST, was enacted through an hysterical Gilbert and Sullivan maneuver. As it turns out, the new tax did NOT pull Canada back from their budget crisis.

It was "spending cuts" that saved the budget. The article pointed out the idea that the GST saved the day is an illusion not supported by the figures. We know about liberal delusion in the U.S. I will see if I can capture the article and send it to everyone, including Mr. Gibson, who is in need of some financial education. Without survival, all his skills and honor are without use.

The Canada I knew no longer seems to be here, other than the programming of school children to hate the U.S. for, well, you know, "they are bigger than we are and don't pay us any attention." They also have stand-up comics who make a career of attacking the U.S. in a news format. Probably, they had such stuff before the U.S., as they are more inventive in things media. 

When I moved here in the early 1990s there was a horrible mass murder of women in a college library. A prominent sidebar to the accounts concluded that the murders where the fault of Ronald Reagan. I swear this is true. You cannot figure how a very pleasant community of well educated, busy people have a thoroughly irrational streak. You start to understand that there are many types of religious programming, as with Muslim murderers, NAZIs, or soccer fans.  As the song goes: "Teach your children well...."

You can learn about yourself when you assess your enemies. I am happy that we are attacked by stand-up comics. Imagine if there were reasonable arguments presented to rebuff the idea that the United States should remain moral, fiscally sound, and pleasant. 

Newspapers, here, are filled with commentary about the U.S. and how it has to come to grips with the reality of debt.  They had their run with Marxists and seem to prefer economic soundness.  Frankly, I was surprised by the fiscally conservative analysis (agreeing with me.)

Anyway, here is an interesting article. Frankly, I liked it because of the the headline.  This says it all.  You can click on the blog title to go to the Financial Post's website.  I would recommend this site unlike the Bloomberg site I had been using as a home page.  I don't have time to figure out what is spin and what is news.

Scott:  How about Frack Tyranny!  We can get that published. Or, should we be true revolutionaries and go for it?  Yeah.  Frack em. More on the idea of buzz words, later. It is a serious consideration.

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‘Not to own gold is to trust governments’

REUTERS
REUTERS
  Aug 12, 2011 – 2:48 PM ET
Gold’s panic-driven breakneck ascent to US$1,800 per ounce may signal that the metal is a bubble, but it might not matter. The precious metal may be vulnerable to a pullback or even a correction, but the longer-term case for bullion is hard to argue against. So if you think it’s too late to buy gold, think again.
While the ongoing eurozone debt crisis, recent U.S. debt downgrade, and fears of another recession contributed to the massive equity sell-off and record move in gold, low interest rates, slow economic growth and central bank currency diversification should keep gold at elevated levels in the years to come.
“From a trading point of view, it almost looks like time to sell some gold,” said Greg Taylor, portfolio manager at Aurion Capital Management. “But over the next few years while we’re going through this financial crisis, it is something that everyone should definitely have in their portfolio.”
Aside from the United States’ US$14.3-trillion in debt, the U.S. Federal Reserve’s conditional commitment to keep interest rates low for the next two years provides another reason to limit gains in the U.S. dollar. At the same time, many other countries are trying to keep their currencies lower.
“There is a devaluation of currencies going on to try and stimulate economic activity,” Mr. Taylor said. “The only quasi-currency that can’t happen to is gold.”
Ed Sollbach, market strategist at Desjardins Securities, agreed that currencies are having a major impact on gold prices.
“Whenever there is worry about currencies, gold could have a big spike,” he said, adding that he considers gold itself a currency. “Gold is always going to be a store of value, whereas over time the dollar or any currency loses it value to inflation.”
Desjardins recently raised its gold price target for 2011 to US$1,820, but Mr. Sollbach is still cautious. He pointed to the fact that gold has moved higher even on some days when stocks rebounded.
“To be honest, we’re a little uncomfortable when you see gold gain $30, $40 or $50 every day,” the strategist said. “That kind of big move ultimately doesn’t end well. The metal can go a lot higher, but it’s kind of in the bubble phase and it’s going to be very volatile, so people should be careful.”
Fenton and Jonah Waxman noted that the metal’s price has been building in a rising probability of a reflaring financial crisis, as well as U.S. dollar weakness and climbing inflation expectations.
Deutsche Bank recently maintained its US$2,000 gold forecast for 2012, noting that prices would need to reach US$2,178 to be considered extreme across seven indicators, including relative to both the producer and consumer price index, as share of global GDP, versus base metals and crude oil prices, and compared to the S&P 500.
“We believe the main beneficiary of super low interest rates in the United States, a weak U.S. dollar, a view that central bank holdings in the U.S. dollar are still excessive and ongoing questions over the stability of the financial system, will be gold,” Michael Lewis, global head of commodities research at Deutsche Bank, said in an Aug. 10 report. “In our view, events over the past week have raised the probability of a price spike in gold.”
Mr. Lewis believes financial markets will be vulnerable to recurring bouts of risk aversion for the next few years as governments in the United States and Europe struggle to bring down debt to more sustainable levels.
One long-term concern would be if the United States is not able to regain its AAA sovereign credit rating as this would reduce the appeal of U.S. treasuries as a diversification asset. This could also help fuel a steady decline in U.S. dollar holdings among foreign exchange reserves, which has been underway in both advanced and emerging economies since the end of the 1990s, Mr. Lewis noted.
China and other central banks have been increasing their gold holdings, and are expected to be net buyers of bullion for the third consecutive year, making it the first time this has happened since the 1980s.
Yet another factor that would sustain investor appetite for gold is what Mr. Lewis considers the “non-negligible” risk of a collapse in the U.S. dollar.
“We believe the greenback’s only saving grace is the sovereign risk problems facing the eurozone, which is helping to prevent a more meaningful appreciation in the euro,” he said.
Record-low yields suggest investors are still comfortable holding U.S. government bonds that pay very little and aren’t worried about inflation. However, if a small group of them decide to exit the US$14.3-trillion U.S. debt market and avoid the euro, some expect to see a big move in gold as it is a much thinner market.
Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, considers gold overbought and warns that it may correct on the downside. However, over the long term, he believes people should have part of their savings in gold “because not to own gold is to trust governments,” he said on television this week.

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July 07, 2007

In .ca, aye


I am in Toronto, still. It is always interesting to catch up on my former home. I always miss former homes, though, when I was there, they annoyed me.

I read a headline, the first day here while mulling over a newspaper, which Canadians do more so than Americans, about how Canadians are reducing their carbon footprint by getting smaller cars to drive to the cottage on weekends.

In the same weeks, I read letters and articles about the movie "Sicko" as supporting the notion of the superiority of the Canadian health care system, then a review on the just issued government reported that average wait in a hospital is 1.5 hours (much longer in Toronto). Stuff like MRIs are four to six months, unless you are older, then they don't bother. What the hell, you are going to die soon anyway.

I was fascinated that Quebec attempted to ban private medical facilities only to be thwarted by the Supreme Court which figured universal access to medical care does not mean universal access to a waiting list. (Their words.) A woman sued the great system because she wanted it to pay for her surgery in Buffalo. If she did not leave the county for the work, she would be long dead. Everyone, literally, has a horror story to tell, but when group-think clicks in, the cliche takes over. Big Brother is subtle, here. [For Canadians: No one is ever thrown out of a U.S. hospital emergency room for not producing an insurance card.]

That about says it all when trying to sort through the self-delusion that is Canada. Still, people are pleasant, sort of like the Eloi in the Time Machine. It is nice to see a place where, as a rule, people don't have to waddle their blubber to travel down the sidewalk.

You just can't expect to join in a conversation, though, involving critical thought. Just stick to the group-think and you fit in: Bush Bad, Earth Warm, Canadians Nice, Streets Clean. That's about all you need. If you want to lead the discussion then: 911 Never Happened, Cheney Oil, Bush Dumb, or Bush Diabolical Smart. Inconsistency is not important.

[Oh, a quick sidebar, the paper the other day had a full page on Greenland having no glaciers at all 100,000 years ago. Thick with forests...Oops. Like I say, don't worry about inconsistency.]

I recall warning folks back in the day, when I lived here, that what had happened in the US was happening in Canada. (Which was also my business guidepost.) No one took it seriously that bad things can happen. Canadians don't really want to get involved with things other than making sure there are enough places to walk their dogs. It is, to be fair, nice to live in the picnic society and worry about your clothes, car, and bar. You just need to suspend your disbelief, sort of like living in a pleasant novel.

While Americans are fighting off the politicians who want immigrants to flood the land with "aliens," as we lovingly call them, to provide cheap labor or cheap votes, Canadians seem oblivious that their country is disappearing by default. It seems to be going the way of European countries, though most of them, albeit late, have realized their policies are bringing to an end the civilizations (or civilisations) their forefather fought for over a thousand years. There is nothing wrong with the Canadian culture that requires the subtle imposition of a homogenization that results in a bland, flavorless mass of breeders (as the Bildebergers would say) who are intent only on buying stuff.

Canada is taking in 500,000 immigrants a year and the culture abhors the "melting pot" concept. This is trouble. The country cannot change all these folks into "Canadians" fast enough, if it wanted to. I think the established Canadians don't really know what makes them Canadian, so they don't express any thoughts on preserving what they have. Too bad. When I lived here, I had a friend from Tanzania who once stopped, as we were walking, to explain that Canadians don't realize they are bending over backwards (OK, not his words) to be supportive of immigrants who would kill them if the tables were reversed.

Remember, California has three million more people than all of Canada. Greater Toronto has 4.7 million, so the flood is proportionally extreme. Of course, the big money guys are making a fortune in land development. I would recommend you buy shares in Ontario Hydro, the biggest utility in the world, but it was not traded and was just bought by the teachers' union, though I didn't read that article too closely. Socialism is a great thing.

The CN Tower of Babel is the main tourist attraction. Sharia law was being promoted a few years ago, seriously, as something to attach to the legal current system. It was not as sweeping an adoption, as reported in the US, but the proposition is more evidence of suicide by correctness.

If you drive north out of Toronto there is an impressive urban sprawl boom that is unbecoming a nation of self-proclaimed environmentalists. Imagine the mushroom patch suburbs of Phoenix, LA, etc., but make the houses twice a large and built them with three feet between each giant box. The result is a grotesque melange of "executive homes." You wonder who wants these places. The country must be top heavy with executives who drive an hour and a half to work and avoid sunlight.

It would have been ecologically smart to just join the weird giant boxes into some distorted gray brownstones, to coin a contradiction, but, of course, then you would not own an executive home, just an easier-to-heat attached home. I suppose one could grow mushrooms in the patch between the houses. The American Dream has morphed into the Canadian Nightmare.

These new developments are a long car drive from mass transit, which Canadians find as painful to use as those in Los Angeles. Thus, the main highway around Toronto is now one of the most used in the world. In fact, there is now a shadow highway that is private and the toll is paid without a toll booth, via electronic means, including reading licenses for those without transponders.

In short, Toronto is a geometrically expanding expensive mess. Quite a change from just ten years ago. It is sad to see a great city adopting Alzheimer's Disease by choice.

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