The economy seems to be improving but that may be an illusion. Stocks and shares are up mainly because interest rates are so low that capital has flowed there. The real numbers show a different perspective - Ontario lost 17,000 jobs in December and the managed unemployment rate is at 9.3%. Meanwhile, in the US, food stamps are needed by one adult in eight and one child in four to keep food on the table. Real wages there, adjusted for inflation, are lower than they were a decade ago.
How capitalism works on the East coast - no jobs, put your life in hock to buy a boat and catch lobsters, sell them to the US market and make ends meet, wait for the recession that drops the lobster prices to $3/lb when the break even point is $5, what to do? "That ( boat is ) my retirement package. If I sell it to pay my bills, then I'm finished" says a fisherman
( Toronto Star, 26/Dec/2009 )
It's a great competition - a few win, most lose. John Ayers
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
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