Tuesday, June 01, 2010

Food for thought

The G8 and G20 meetings are to be held in Toronto at the end of June.
Preparations are costing almost $1 billion (according to the officials),most of which is for security. (Our local, new, state-of-the-art hospital is in the middle of cut backs dropping nurses and the physiotherapy program, we could use a few million!) How come popularly elected leaders need so much security, hide away in the bush and talk in secret? And don't we already have a G200 called the UN that should include all countries in a global economy? What arrogance these managers of capitalism show!
Is capitalism on shaky ground? On Thursday, May 6th. the stock market went haywire as stocks plummeted in unprecedented fashion, e.g. Shares Russell 1000 Value Index Fund, worth $95 billion, saw their shares drop from $59 to 8 cents and the Dow Jones Industrial average lost about ten per cent. The reason? A fat fingered trader in Chicago pressed the wrong key and made a sale of several million stocks into billions and all hell broke loose. Great, secure system, eh? The Toronto Star writer headlined his piece 'At least it wasn't a weapons system'.

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