Skip to main content

Trevor Tombe: The Liberal Economists

 This is more of a regional post as Trevor is an economist that teaches at UofC in Calgary and comments on local politics. I normally don't have issues with liberal economists. They're generally pretty good on issues. They're liberal in their politics and they agree with all the ends of left-wing politics, but they don't have that hatred of the market that tends to permeate left-wing people in general.

I do run into issues when they're dishonest. This is a larger issue that requires it's own post, but it's sort of the philosophical idea (epistemology) that is working well into our culture. Truth is not a matter of fact, but a matter of political pressure and goals. It's very similar to Marx's view that all society is groups fighting for power and truth is merely a groups power play - nothing more. There is bourgeoisie 'truth' and that truth benefits that group and their power in society. And the same applies to proletariat.

Basically this all manifests as people who can't separate politics from anything because everything is a power play and objective reality (facts as they are) may benefit a competing group.

Exhibit A:

What I find most annoying about this tweet is the last sentence. It doesn't follow from the previous point, without the intention of obfuscating the facts on the ground. "Monetary policy is conducted by the Bank of Canada." Right. The sky is blue. Ducks go quack. 

Government deficits, in and of themselves, don't create inflation. In an ideal scenario, the government issues bonds, private buyers in the market purchases them and it's a regular transition of money from one party to another.

This deficit doesn't work this way. The Bank of Canada purchases the bonds the Federal government issues, and that is an injection of new non-existent cash into the market. That's an inflationary act of monetary policy.

I find this very annoying from someone that knows this and purposely muddies the waters. The distinction being made here is that it's just gas prices, and somehow deficits with Bank of Canada bond purchases are unrelated to inflation. He may be correct about gas prices being the main mover here, (he would never say carbon tax as he's a supporter of this in the power structure), but it just so misleading what he presented. 

Exhibit B:

Trevor Tombe: Rejecting equalization spurns a crucial principle of Confederation

This is another interesting piece because it's just a strawman from the start. It's very clear that the UCP has no intention of fundamentally changing the idea behind equalization.  He rants on this about a desire to abolish it.

I find myself saying to myself, with the characterization of conservatives by liberals in Alberta, "I wish they were what you think they are". Literally. The culture in welfare is so engrained in Canadians - the UCP has no desire to remove provincial governments receiving handouts & welfare. The sacrifice of the strong to the weak is the predominant cultural idea in Canada.

The equalization referendum is about exerting some pressure. Being strong doesn't mean bleeding us to death and definitely empathize with this.

I wish this was on ending equalization. The average Canadian hates Alberta. Atlantic Canada the most. They resent everyone that leaves and heads to Alberta to build a life for themselves. It's that culture of hating the successful. It's about hating the good for being good. And they hate Alberta so much they'll stagnate and bleed it.

If only this was about ending it. 

The ironic part about all this, with asserting autonomy, the so called Alberta Firewall - Quebec does it and everyone bows down. Alberta just brings up the idea of it and mocked, scoffed and hated. 


Trevor put down the power plays and focus on just presenting truth as it is.


Popular posts from this blog

The West is Weak: Russia Invades Ukraine

 I haven't been writing a lot lately on this blog, but I felt the need to sign in and write about this. I've found myself feeling a bit depressed about the invasion of Ukraine - not because it happened, but due to how the west will predictably react to it. There will be a lot of talk, strong words, and even stronger rhetoric, but when the actual words become policy - it will be pathetically weak. There are people out there that seem to think or at least try to force the narrative of a simple dichotomy: either we accept Putin is doing it or it's WW3. Any normal person would find the choices here to be nauseating either way. If history is to serve a lesson, the first option often leads to the second option. But this dichotomy really illustrates the parameter that most people don't pick up on. The West is Morally Weak The facts are on the ground. The United States has the largest armed forces in human existence. A coalition of western powers is devastatingly more powerful

The Energy Market with Unreliables

 The energy market is going to be something that will be on people's minds for a long time because right now there is very poor policy and ideological views driving us to a crisis. There has been a nice little bull run going on over the last few months, and this may not be the crisis. It's something that may immerge here, but it might be 5-10 years from now. For the longest time I've been a passive index investor , and I still am for a nice chunk of my portfolio, but over the last 18 months I've decided that I'm going to apply my own judgment to the market place and invest accordingly. Over this time I've accumulated a pretty sizeable portfolio of LNG (Liquified Natural Gas) companies, in particular upstream and midstream companies. Renewable Energy or Green Energy are Unreliables There is a political push for green energy. It's driven by the moral ideas that green energy is this universally good  energy and all the other reliable energies we use like fossil

The Power of the Dog is Awful

I'm trying to post more personal things to this blog and I thought after what I finished watching last night - this was a good post to start. I often think that there is something wrong with me; like a horrible cynic. I like to watch entertaining movies and television, but everything I find lately is just awful. And it's almost like this never-ending cycle of bad to worse. It's not like I'm just watching straight to video movies or anything, I'm watching highly awarded and often praised as the hot thing on Netflix. Last night I watched The Power of the Dog (2021) . A highly regarded movie with a lot of nominations for various awards and I've heard a lot of talk about it - so I watch it. I don't want to spoil the movie for you, but absolutely nothing happens in this movie. There is a point in a movie where you just keep watching to see if anything happens and determine what exactly your time accomplished. Well, I can let you know that watching to the end will