In a drop that some economists are calling 'worrisome,' Canada’s labour market shed 84,000 jobs in February, one of the sharpest monthly declines seen outside the COVID-19 pandemic.
Maybe the gold standard had the right idea then, or at least a more right idea than we currently have. When your head has been underwater for half a century, maybe it’s time to accept that the water isn’t really that deep and you’ve been swimming the wrong direction all along. If it takes a complete economic implosion and redesign to realize that billionaires and soon trillionaires are not in fact superior superhumans who deserve all the world’s worship, as painful as that process may be, perhaps it is becoming necessary. And I don’t know how long we’re going to keep going before we all admit that it is necessary, but I think I am ready to admit that it is necessary.
Maybe the gold standard had the right idea then, or at least a more right idea than we currently have. When your head has been underwater for half a century, maybe it’s time to accept that the water isn’t really that deep and you’ve been swimming the wrong direction all along. If it takes a complete economic implosion and redesign to realize that billionaires and soon trillionaires are not in fact superior superhumans who deserve all the world’s worship, as painful as that process may be, perhaps it is becoming necessary. And I don’t know how long we’re going to keep going before we all admit that it is necessary, but I think I am ready to admit that it is necessary.
I couldn’t agree more. All these printed money bailouts for every failed asset bubbles erode minimum wages and salaries.
Though a non-hard money is historically a left leaning ideal.