Smart Links 04 May 2012

Paul Summerville • May 3, 2012

Tags: Canada, Central Banking, Deflation, Energy, Euro, Hunger, United States, Voices, Yes

Commentary on the ugly meter, US energy independence and Canada, the Euro dilemma explained, debating deflation, food fear, and Shaw's food bank drive.

Beauty is in the eye of the beholder.

Los Angeles Times -- Daum: Beauty in the eye of the app
The urge to judge -- someone's face or their way of life -- has become less a transitory impulse than a way of life.

The great Chinese moral vacuum.

Financial Times -- A blind prophet speaks of trouble in China
The idea of a blind seer is not new. In ancient Greece, Tiresias, the blind prophet of Thebes, warned Oedipus he would end up killing his father and sleeping with his mother.

TD Economics makes a big guess at what rising US energy independence will mean for Canada. (ed’s note: how do you spell pipeline to Asia).

Pdf below -- Rising US Energy Independence and Canada

European partners. Thanks to David of London.

A few thoughts on deflation. (ed’s note – rapid credit growth is a very bad thing and has been allowed to persist because of the wealth it created was defended as the market always being ‘right’).

Economist -- Jim Grant and the Gold Standard
EVEN if you don't agree with any of it, it is worth reading Jim Grant's entertaining speech to the New York Federal Reserve about the gold standard.

Related.

Financial Times -- Our central bankers are intellectually bankrupt
The financial crisis has fully exposed the intellectual bankruptcy of the world’s central bankers.

The history of our fear of food. Thanks to Katherine of Toronto.

canada.com -- Book review: Fear of Food
When Bill Clinton was rushed to hospital complaining of chest pains on Feb. 11, 2010, the press reflexively recalled his hedonistic dietary past: the burgers, the barbecue, the cinnamon rolls.

Related. Thanks to David of Victoria.

youtube -- Shaw Fill the Food Banks 2012
Help Fill the Food Banks just by watching this video and sharing it on Facebook and Twitter.

Attachment	Size
Rising US Energy Independence and Canada.pdf	688.38 KB

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Twin Virtues: Inequality of Outcomes & Equality of Opportunity©

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Ultimately, the most successful societies find the balance between the twin virtues of inequality of outcomes and equality of opportunity.

The new politics must marry the twin virtues of unequal outcomes and equality of opportunity.

When too few get too much everybody ends up with less.

Can it be that striving for equality of opportunity however imperfect the process not only benefits the individual but also creates benefits for the society as a whole that are unintended but wonderful?

Economics must be a 'moral enterprise' as much as politics claims to be. Economic outcomes need to be framed in terms of right and wrong not just efficiency if only because these often align in surprising ways.

My vision of Canada is that any Canadian child from a family of limited circumstance can expect to have a chance at lifetime of unlimited opportunities.

Tax policy should be founded on the principle of generating steady tax revenues sufficient to maximise environmentally sustainable economic growth in order to fund fair government.

Public policy should be designed to decrease inequality before the law and increase equality of opportunity.

Capitalism is not the problem; the problem is what we do with capitalism.

Content is always more difficult to argue than conspiracy.

Let the state regulate and the market operate (most things).

Welfare strategies are best designed as a hand up not as a hand out.

Political debate should not be fact free fighting.

Explanation lasts longer than eloquence.

Always favour empowerment over dependency.

The most enduring public figures are embraced for the causes they fought for and not the concept of themselves they hoped others would remember them by.

Find your voice and don't be the echo of somebody else.