Strange Days

The current proposed bailout for the American financial centre deserves serious debate.

However it’s something that has occurred consistently every few years over the last decade.

Since the tech bubble burst in the late 90’s, and the events around 9:11 the American government under president Bush has bailed out the auto industry, the airline sector, the energy industry, and now the financial sector.

What strange times we live in when a right winged administration that is a staunch advocate of the free market and touts dog eat dog business tactics is leaving a legacy of public funds used to bail out private business.

(Aside: I’ve attended lectures and ready essays from academics such as Gwynne Dyer that have suggested we are witnessing the beginning of the end of American global dominance.

I've never really thought much about the idea until this week.

Because financially the United States is essentially broke.

Where does a country that regularly runs a deficit get 700 billion dollars?

They borrow it.)

What sort of impact is this going to have? 700 billion is more money than any of us can comprehend.

What message does it say to the people who run these mega-corps when the government gives public money to stabilize private business?

It says that if you’ve convinced everyone that your big enough and important enough and you run your business into the ground by poor decisions the government will swoop in and save you with public money.

It says you don’t have to be accountable to shareholders or risk losing your job because you know someone will be there to save you.

It says your over inflated salary and year-end bonus is secure because society will pay for your mistakes.

This bailout will go through in one form or another.

Something tells me this bailout won’t be the last.

The "new" age old question

This evening I attended a lecture from Naomi Klein at the University of Regina, her discussion was on how governments use disasters (i.e. terrorist attacks, wars, storms etc) as a way to fast track otherwise unpopular or unethical public policy into law.

Thats all well and good.

However after the main lecture was over Klein answered questions from the audience.

There were close to a thousand people in attendance, and by the applause that peppered her lecture it would be a fair conclusion that most were on the left side of the political spectrum.

One gentleman questioned the amount or lack of media coverage this idea has received in both Canada and the United States, and then concluded that it must be because 'the right wing media has an obvious bias'.

This has always stuck me as odd, as often the media is referred to as "left winged". Especially Canadian broadcasters such as the CBC.

We seem to have a problem here, which is it? Is the media left or right winged?

I think it really comes down to individual perception, and in this case both camps are correct.

I'll explain.

Conservatives say the media is a tool of the left because statistically it is. Most of the major media outlets are located in the north eastern United States, namely New York city. Or in Canada, southern Ontario/Toronto.

Traditionally these regions have been Democratic/Liberal/NDP strongholds, and would be expected to have a somewhat left of centre leaning when reporting the news. The reporters, producers, anchors etc are generally well educated, urban individuals products of their environment who perpetuate the areas political ideals.

So yes it may be fair to say there is a liberal media.

However a conservative media also exists, in fact its the same media as the liberal media.

Media organizations are owned by larger companies. Companies that operate within a free market system and have one single objective, which is to increase profits. This idea of big business is fundamental to the concept of "right wing".

Management traditionally is associated with the right, while the employees can be considered left.

So the owners of the media outlets are probably right leaning, and the people who make up the media are left leaning.

In the end both sides are right.

Geeze concensus building sure is boring.