Global central bankers, stuck at zero, unite in plea for help from governments by Howard Schneider

JACKSON HOLE, Wyo. (Reuters) - Central bankers in charge of the vast bulk of the world's economy delved deep into the weeds of money markets and interest rates over a three-day conference here, and emerged with a common plea to their colleagues in the rest of government: please help."Mired in a world of low growth, low inflation and low interest rates, officials from the Federal Reserve, Bank of Japan and the European Central Bank said their efforts to bolster the economy through monetary policy may falter unless elected leaders stepped forward with bold measures. These would range from immigration reform in Japan to structural changes to boost productivity and growth in the U.S. and Europe.

Without that, they said, it would be hard to convince markets and households that things will get better, and encourage the shift in mood many economists feel are needed to improve economic performance worldwide. During a Saturday session at the symposium, such a slump in expectations about inflation and about other aspects of the economy was cited as a central problem complicating central banks' efforts to reach inflation targets and dimming prospects in Japan and Europe...."Continue reading.... http://www.reuters.com/article/us-usa-fed-fiscal-idUSKCN1120SU

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THE AMERICAN YEARNING FOR A ‘UTOPIA’

“The pragmatist’s conception of freedom ultimately fails because it does not understand the relation between freedom and thought, that is, between freedom and spiritual law.”
- - George Grant in "Philosophy in the Mass Age"
 

In “Utopia, Nostalgia and the Jew,” 28 August, 2016, Gilad Atzmon sees ‘the Left and progressive thought’ yearns for a Utopia, an imaginary ideal society as their political and social goal.   He comes to the conclusion “No left or progressive intellectual narrative is impervious to some sort of utopian ideal.”
 
But, “… for about half of the American people, utopia is nostalgic. The return of the ‘American Dream,’ of being great once again – this is the idyllic dream shared by supporters of both Donald Trump and Bernie Sanders.”
 


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The Long Decline of Canadian Conservatism: Fifty years ago, Red Tory George Grant predicted the confederation’s embrace of multiculturalism and technocracy by Mark Wegierski

Though he passed away in 1988, George Parkin Grant is probably still the leading traditionalist philosopher in Canada. And this year marks the 50th anniversary of the publication of one of his most popular and accessible books, Lament for a Nation: The Defeat of Canadian Nationalism. It first appeared in 1965, and has remained in print almost continuously in Canada.Lament for a Nation mourns what Grant saw as the end of real Canadian independence in the 1960s. As he tells the story, Canadian Tory Prime Minister John Diefenbaker had refused to accept U.S. nuclear weapons on Canadian soil. As a result, the North American managerial capitalist classes turned against Diefenbaker in the crucial 1963 Canadian federal election. The lost campaign is characterized in the book as “the last strangled cry of his pre-modern Loyalist ancestors.” (The Tories were already officially called the Progressive Conservative party, having added the adjective in 1942.) The Liberal Lester B. Pearson won the election.Grant was prophetic in announcing the passing of a more traditional Canada, though his focus was not exclusively on the impending destruction of what would later become known as social conservatism. Rather, he was more concerned with the dangers of corporate liberalism and technocracy, which he saw as emanating from America and undermining a more traditional Canada. Thus Grant’s outlook lies somewhere between that of a traditionalist conservative and what might be called a social conservative of the Left. There are a number of illustrious figures who embrace the latter outlook—John Ruskin, William Morris, Jack London, George Orwell, Christopher Lasch—and in Canada, the noted constitutional scholar and union adviser Eugene Forsey.

Read the full article here: http://www.theamericanconservative.com/articles/the-long-decline-of-canadian-conservatism/

SOME SERIOUS MISCONCEPTIONS ABOUT NATURE OF FINANCIAL AND ECONOMIC SYSTEMS by Wallace Klinck

The following post was made  to the Return to Order site and can be viewed at the following address:  http://www.returntoorder.org/2013/12/rush-twitter-economics/?utm_source=sm-rto&utm_medium=email&utm_content=RTOE0234&utm_campaign=rto_newsletter#comment-2857329929 There appear to be some very serious misconceptions about the nature of our financial and economic system.  From a metaphysical or philosophical aspect the problem arises from an erroneous assumption that salvation is to be found in work--an assumption diametrically opposed to the Christian Doctrine of Salvation through Grace, which is not earned but a Gift.  Our financial and economic system is firmly based upon the false Doctrine of Salvation through Works.  It is technically and mathematically defective and as has been said, even an army of angels could not administer it successfully.  In order to achieve a balanced society it is necessary to have a balanced price-system.

(1) The purpose of a rational economy is not to create work, i.e, “jobs”, but rather to produce goods and services for society as, when and where required with maximum efficiency and an absolute minimum of inconvenience for all concerned. Perverting the economy to create work, rather than eliminate it, is irrational, entrenches inefficiency and derives from the false and domineering philosophy known as “Puritanism”, i.e., the desire for power over individual human activity. At worst it is the basis of tyranny; at best it is pure superstition.

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PRODUCTION CAPITALISM AND FINANCE CAPITALISM

There were two kinds of Capitalist.  One was the Production Capitalist and the other the Finance Capitalist.  It is essential in our thinking that a broad line of distinction should be drawn between the producing capitalist and the finance capitalist, and the vast difference in the respective roles played by each.

Production CapitalismThe producing capitalist—large and small - produced goods and rendered service, and the amazing increase in production over the last 100 years is eloquent tribute to his achievement.  From the point of view of industrial development in all fields along with scientific knowledge, no one will dispute the proposition that the last century has been the most amazing in history.An age of scarcity gave way to an Age of Abundance. Living standards were raised and hours of toil were reduced in industrialised countries.  Such achievements are a striking monument to the free initiative, enterprise, industry, and driving force of the industrial capitalist, be he small farmer, large industrialist, or medium-sized manufacturer. Even the most bigoted Socialist, with any sense of fairness, must concede that production capitalism, so far as the production of goods and services are concerned, has done a great job, and brought the world into an era in which the Abundant Life is possible for all the people in every industrialised country.  That this abundant life is not being enjoyed by all is due solely to the fact that finance capitalism has not kept pace with production capitalism.

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CONTINUATION OF: Commonwealth Constitution Act: The Historical and Political Origins of the Current Preamble

The Baconian Phrase:  A Just Relationship between the Mind and Things In a discussion paper read to the Science and Religion Forum 9 April, 1976 biologist and academic Geoffrey Dobbs noted that Science shares a dimension with Religion beyond the cerebro-verbal plane of academic philosophy, and that is: “namely that of the external world, in that its thoughts and symbols must be ‘bound back’, in detail, to an external, non-cerebral, non-verbal, reality.”  Dobbs insisted:

It is of the essence of the scientific method that theory must constantly be checked by observation and experiment. It is of the essence of religion that the professed faith must be put to the test of practice, both on the individual scale, and on the more visible, general, social scale. It is of the essence of words and of symbols of all sorts, that their connection with the referent is indirect – entirely through the human mind, and hence easily confused or diverted or even inverted.

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The Just Price: A Ratio, not a Moral Aspiration by Wallace Klinck

One of the major catastrophes of history was the failure of the Mediaeval Church to grasp the idea that the Just Price was a ratio, not a moral aspiration.  As a result of this failure, we have lived in a welter of meaningless phrases such as “fair wages”, “reasonable prices”…

Perhaps the most curious psycho-political phenomenon of this odd period is the glorification, by considerable numbers of people whose memory comprises records of a world glut, both of preparations for the onset of an incomparably greater glut, and the imposition of every conceivable hindrance to its absorption.  - - C.H. Douglas, 1943

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Looks like the Folk in America are Waking Up!

“You Were Born to do MORE than just go to Work, Pay Bills and Die!” read the headlines of this article mentioning Social Credit and C.H. Douglas: After Defeat of Swiss Basic Income Proposal, Let’s Name the Real Problems, Find the Real Solution  by The Truth Hound/ Mark Anderson, http://www.thetruthhound.com The June 5 Swiss ballot proposal to introduce a guaranteed basic income—an unconditional allowance for everyone in that neutral Alpine nation—was defeated largely on the basis of the Swiss government’s claim that the idea would “cost too much.” Reuters added: “Swiss voters rejected by a wide margin . . .  a proposal to introduce a guaranteed basic income for everyone living in the wealthy country after an uneasy debate about the future of work at a time of increasing automation. (Emphasis added).”

Yet, the plutocratic Financial Times acknowledged, “The Swiss may have just voted to reject a proposal for a guaranteed minimum income  . . . but that hardly means the idea is dead. Pilot projects and feasibility studies are in the works across the developed world, from the Netherlands [and Finland] to California. In Canada, the federal Liberals, along with governments in Ontario, Quebec and Alberta have expressed interest in the concept.”

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Commonwealth Constitution Act: The Historical and Political Origins of the Current Preamble

It is written, one of the few human freedoms “guaranteed in the Australian Constitution - the free exercise of religion (s.116) - owes its existence in part to the insertion of the phrase 'humbly relying on the blessing of Almighty God' in the Preamble…”Source: setis.library.usyd.edu.au/ozlit/pdf/fed0014.pdf

Which was “added at the Federation Convention in Melbourne in 1898, s.116 largely at the behest of the Victorian, Henry Bournes Higgins, while the inclusion of God's blessing in the Preamble was due to the efforts of the South Australian, Patrick McMahon Glynn… Glynn's public justification for reference to the Almighty in the Preamble referred to the 'great central fact of faith' and the 'spirit of reverence for the unseen' which pervaded civil life in Australia.”(4)…

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