Act 141

If Team Debt has no captain, how can we beat this all star line up?

I read the remarks made by Superintendent Julie Dickson of the Office of the Superintendent of Financial Institutions Canada (OSFI) to the 2013 Bloomberg Canada Economic Summit on May 21. True enough, it doesn’t say much for my social life, but nevertheless, it made for an interesting read.

Interesting because I searched a few words to get the gist of her comments. Not surprisingly, the winner was – you guessed it – bank (33), followed by interest (15), financial (14), rates (13), market (10), mortgage (8), risk and real estate (4) with insurance (2) and profit (1) rounding out my random count.

What dismayed me was that other than the word household (2), which I guess is what us ordinary people are called in those circles, there was zero (0) mention of the words family or families, Canadians, people, home or even money – never mind health or well-being of any of the above.

Maybe we need a Superintendent of Working Canadian Families, someone to present our case and our cause at summits to business leaders in the financial sector who rely on our debt to earn their living. Just maybe.

Canada has a well-funded Bank of Canada, a well-funded Canadian Bankers Association, a well-funded Canadian Real Estate Association, a well-funded well, you get the idea… Macleans reports  the top 10 lobby groups on Parliament Hill here. You won’t find the words ordinary, working or family in that list either.

Towards the end of Ms. Dickson’s remarks, she states: “Low growth affects employment rates and the standard of living. The crisis demonstrated the importance of the safety and soundness of banks…”

I might argue that those sentences should be revised to read instead, “the importance of the safety and soundness of banks is of greater concern than the employment rates and standard of living among ordinary Canadians – hence, there is no growth – and that is the crisis.”

It’s all in how you say a thing it seems, and nobody’s saying anything on our behalf, at least not officially anyway.

If anyone out there is brave enough to make the speech, I’ll help to write it because we’ve got alot of make-up games on the schedule ahead.

Play ball!

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2 thoughts on “Act 141

  1. Wow! You sure nailed it today Louise! “They”, and I mean those who live in their “glass bubbles” have no idea how the majority of the “little folk” have to scrape to get by. We try to live w/in our means, but the “means” more often out way the “ways”, andwe almost make become “criminals” by taking money “under the table” by doing services for cash, i.e., cleaning, babysitting, yardwork, or doing bartering for services. Don’t talk to me about the best ways to invest my “extra money”. Who the heck has “extra money” after all the bills are paid? Today, for the first time in many months I treated (if you can call it that) to a ‘burger and fries at Rotten Ronnie’s. Felt guilty, didn’t enjoy it, and it is still hanging in my stomach. I could go on and on. And, “we” don’t have friends like Mike Duffy does to haul our sorry asses out of the fire when we do get caught. I just keep hoping that by doing nice things to help people that I will be able to sleep nights. Keep up your Debt Defying Acts posts Louise. I look forward to them each day. Penny Coon

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    • Thanks Penny. You made my day. And you’re right. We don’t need those kind of friends and the drive-thru won’t ever taste the same again. I guess that means we’re learning! cheers. Louise

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