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!%@From the Long Bar at the Alberta Hotel@%!
Blessed are the Rich for They shall inherit the earth
by Adam Smith, the Eye Opener's economic expert
When I came to this country, I didn't have a nickel in my pocket. Now I have a nickel in my pocket.
Who stole Set-Em-Up's $21,000? - her name's Dora Maar
If you divide Canada's 1981 Gross Domestic Product (formerly Gross National Product) by the 1981 population of Canada, you'll find that, for every Canadian, Canada produced $24,184 in goods and services. In 2006, for every Canadian, Canada produced goods and services worth $34,643. That's a whopping increase of about 51%. All those figures are in 1997 dollars. Michael Valpy of the Globe and Mail has gone through Canada's 2006 census. He discovered that, in 1980, the median Canadian worker earned $41,348 per year. In 2006, the median Canadian worker earned only $41,401 per year. That's a tiny-tiny increase of only $53 - only a 1/10 of 1% increase over 26 years. If, between 1980 and 2006, the earnings of Canadian workers had increased 51%, in 2006 our median worker would have earned $62,435, not only $41,401, per year. That difference amounts to $21,000.
The name of the femme fatale who stole Set-Em-Up's $21,000 is Dora Maar. She symbolizes the dysfunction of Canadian economics and deserves a motto. Why not "Blessed are the Rich for They shall inherit the earth"? In 25 years, computer technology and improved production methods have enriched Canada's economy - it is 50 % wealthier than it was 25 years ago. Our Fat Cat Blessed economic system has expropriated it all -- to gorge the bank accounts of greedy executives, to radically reduce taxes to the rich, to overpay stockbrokers and mutual fund managers and bank executives, to slip bucks under the table to crooked politicians, and to dole out a few scraps and crumbs to shareholders. Leaving nothing for ordinary Canadians. When a machine has replaced a worker in an auto plant - all the gains have gone to the bosses and their allies. Today the CBC interviewed Buzz Hargrove, the President of the Canadian Auto Workers Union. Hargrove says that, in 1980, 25% of the money earned from building a car went into auto workers' pay cheques. Today it's only 9%. Last year Larry Ellison, the chief executive officer of Oracle, stuffed about $200,000,000 into his bank account. In the year 2000 Hillary Klinton was broke, this year she was able to loan her own presidential campaign millions of dollars.
What does a person do with $100,000,000 or $200,000,000 a year. Catch afluenza for one thing. Buy a race track or a stable of expensive polio ponies. Go to an auction and bid up the price of Picassos. Two years ago, while ordinary folks stagnated, a fat cat paid $95.2 million for a portrait of Picasso's mistress, Dora Maar
The Calgary Eye Opener
© Thomas O. Davis, All Rights Reserved
© 2004 Thomas O. ("Tim") Davis All rights reserved