Thursday, May 31, 2012

Jeffrey Simpson States the Obvious

Somebody left a copy of the Globe & Mail at the coffee shop. Leafed through it. A Jeffrey Simpson column "The lingering gloom of recession." I thought: "This'll be good for a laugh." Dude got paid a decent sum to write a very pedestrian survey of the current economic climate:
Four years after financial collapse brought recession, Western economies are still suffering: reduced or no growth, higher unemployment, deficits and swollen debt.
Politically, the recession has upset some systems and paralyzed others, hollowed out the political centre and encouraged street demonstrations in some countries to protest against elites, established ways and existing institutions.
And it ended with:
Wall Street, and to a lesser extent Bay Street (and, more widely, corporate Canada) doesn’t get it: The salaries of senior executives at a time of economic stress border on the obscene.
The gap between the rich and the less fortunate has widened almost everywhere, especially in the United States but also in Canada, sharpening post-recession political polarization. The economic effects of recession will be with us for some time. So will the volatility and sharper divisions of politics.
No shit Sherlock. Any thoughts on your own newspaper's endorsement of this entire process??

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