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Saturday, March 03, 2012

Food for thought

Surprise! The Paris-based Organization for Economic Cooperation and Development reported that in Canada a small group of winners was reaping a disproportionate share of global wealth and noted that we were the country with the sharpest increase in income inequality. Wonder where these guys have been for the last one hundred and fifty years! There are other winners too. The Star article, "Yes, Virginia, You Can Contract Out Christmas reports that the owner of Emblem Florists put up a fourteen foot Christmas tree in his home on Toronto's prestigious Bridle Path and adorned it with three thousand lights at a cost of $7000. A client requested six trees done for $25 000. One has to think how many starving children could be fed with that money.

The banks, of course, are managing quite well. The Royal Bank of Canada reported fourth quarter profits of $1.6 billion, up 43% and the Bank of Nova Scotia did OK, too at $1.24 billion in profits. That's only about $15.5 million a day. Just wondering if they are among the 'small group of winners reaping a disproportionate share of global wealth?

Finally, the environment -- As expected, representatives of the Canadian and American capitalists clearly showed their disdain for the Kyoto Accord or any post-Kyoto Accord at the recent UN climate meetings in Durban. Any attempts to help poor countries of the Southern hemisphere to preserve their ecologically vital rain forests were snubbed. Presumably, any whiff of making a profit out of the resource would bring them running back. The drive for profit is merely a short term and blind point of view but thoroughly consistent with the needs of capitalism. When Canada and the US experience coastal flooding, desertification, and
massive crop losses, these people who ignore climate action might wonder if there is a better system after all. John Ayers

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