It's a zombie economy. For 40 years, we've eroded the wages of workers and transfered their share of profit and productivity to owners of capital. This is a problem, because people need money to buy things, and if they run out of money, they stop buying and profits vanish.
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Time and again, capitalism has kicked any reckoning over this down the road. First came the great liquidation: pension cashouts, raided savings, reverse mortgages. Then came consumer borrowing, a tidal wave of unrepayable debt.
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That's the zombie part: all the unpayable debt, which has been turned into bonds that enrich debt-holders. As Michael Hudson has told us again and again, debt that can't be paid, won't be paid. Our debt-based economy is the walking dead, a zombie.
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Ontario's drug-dealer premier is shockingly bad at distributing vaccines: How is it that Doug Ford was so good at slinging hash, and is so bad at vaccinating?
Ontario politics are a wild ride, but they rarely escape the province, or, at most, the nation. Which is weird, because Ontario has been a leading indicator of neoliberalism's cruelty, paranoia, and surrealism since (at least) the mid-nineties.
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Start with the 1995 election of Conservative Premier Mike Harris, a bland, dead-eyed sociopath whose "Common Sense Revolution" slashed Ontario's excellent public services and implemented a forced-labor program for poor people, AKA "workfare."
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Harris was a Romneyish sort of fellow: a personality-free, interchangeable suit who didn't raise anyone's pulse but excelled at administration. His major achievement was the amalgamation of Toronto: a forced merger of the City of Toronto with its heretofore separate suburbs.
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Inside: AT&T will lay off thousands more; Cuba is a vaccine powerhouse; Sacklers to use Purdue bankruptcy to escape justice; AI has a GIGO problem; and more!