One commentator who I cannot stand is Michael Campbell. He's actually the brother of the current Premier of BC, Gordon Campbell, which is scary. Michael Campbell talks about money and economic issues and is constantly repeating key neo-conservative talking points such as "welfare state" and "don't tax the rich or businesses" or, the biggest tell: "big government." He also likes to talk contemptously of the fools who don't agree with him. He says that economics is simple and easy to understand and other such naive crap that it astounds me that he's tolerated as a economic commentator here. He loves to dwell on the failures of the Greek economy, which he honestly believes is due to too many "entitlements."
Now, I don't know much about economics, I admit that, but I do have this blog to ramble. So ramble I shall! Also, I do know a bit about current events and the state of the US economy.
What part of the near total collapse of the US economy does Michael Campbell NOT understand? The US was the result of 30 years of government deregulation and unfunded tax cuts which were directed mainly at the rich. All the talk of give the rich and big business big tax breaks to create jobs was complete and utter nonsense. Give the rich a tax break - they invest it! Give big business a tax break - they give bonuses to the rich guys and shareholders rake in more big bucks.
Where was the middle class in all this? Bearing the burden for the rich and the big businesses. The US is the ultimate experiment in free (mind boggingly free, i.e. Gulf of Mexico) market. The Reagan experiment of "trickle down" economics has been demonstrated, over and over again since Obama entered office that this unfettered economy is a disaster.
Also, Campbell's simple-minded philosophy doesn't take into account the one important factor: human nature. Specifically, it does not take human greed into account. Give big businesses more money? They keep it. Give the rich tax breaks? They spend it on themselves. Campbell probably thinks that the business will actually hire more people or pass savings on to their customers. Nope - that's not what has happened in the US and it will not happen anywhere else. Any economic philosophy that ignores human greed will lead to economic ruin for the majority of people.
We've learned the end result of Michael Campell's economic philosophy:
Any questions?
