Monday, January 31, 2011

Back to Basics for Banks

The fat bankrupt bank beavers have been bailed out by the taxpayers, so it is time for them to get back into their proper social roles. Leveraged derivates can only lead back to another precipice, so how about some good old fashioned banking?

Canada built their rich banks on the backs of homeowners and entrprenneurs, not hedge fund gamblers. To move forward, we need the banks to get back in bed with ordinary Canadians who need ordinary loans to finance their property, capital equipment and inventory investments. These are the loans that stimulate our economy by creating new jobs and new industries.

We also need the porky government agencies to lose some weight and the high metabolism tax weasels to go on a diet. Everyday Canadian beavers need a chance to pay off their lines of credit, credit cards and car loans/ leases. Income taxes need to be cut much more than corporate taxes.

By improving the balance sheets of middle class and lower income Canadian beavers, we will be able to create a stable and growing job market for all Canadians. Canada has always needed a strong small business sector that provides 70% of employment.

Our government policies must not continue to favour international corporations who close plants and lock out workers as soon as a cheap labour market emerges elsewhere. We can not endanger our autonomy by signing international trade agreements that give these global players legal control over us. It is time to finance domestic businesses- not investments by foreign corporations and foreign government agencies.

Canada needs its own Sovereign Investment Enterprise, just like the Saudi's, Chinese and other wealthy nations around the world. We need a long-term strategy and game plan.

It just doesn't make sense to be generous to those who are making hay out of our oil reserves and forcing Canadians and our industries to pay "world" prices for our plentiful supplies of this important resource. The Saudi's and Americans are setting the price of our oil- not Canadians!

We can't be shy beavers anymore. The next round of world trade negotiations will be over our fresh water reserves. The oil rich persian gulf countries have invested $trillions in their new infrastructures while Canadians just puff up our government bureaucracies.

Come on you beavers. It is time to defend and take care of our own pond!

How about sharpening your teeth on the head of a wooden muscrat bureaucrat?

Bob the Beaver

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