Theology, pseudo-science, self-help psychology, internet message boards, para-psychology, Judaism, (I would be termed Hebraic Roots Christian, and writing:
When well trained workers have high quality technology to work with then the total of all wages and benefits paid out to employees is only a fraction of the retail value of the products they produce. As a result of this fact the only way to move products out of warehouses is to extend higher and higher levels of credit.
One problem with an abundance of red ink is that compound interest on all this government, business and personal debt over a period of decades will grow to astronomical levels. At this time there is approximately TEN TIMES as much debt in Canada as there is money. A simple explanation for how this happened can be seen here:
In my opinion this rather simple mathematical problem is perhaps the number one cause of inflation in the Canadian economy over the past three decades. This is also perhaps the number one reason why our costs of production are so high and Canadian products cannot compete on the world markets as well as they could under better conditions.
From 1940 to 1970 the Government of Canada put roughly half of the total money supply into the economy through loans issued through the federally owned Bank of Canada. Provincial and municipal governments could borrow the money to build roads, schools, hospitals and sewage treatment facilities at zero or one percent interest.
In 1970 we changed our system and since that time a higher and higher percentage of all government debt is financed through loans issued through privately owned banks. At this time it is ninety eight percent. This policy may be great for our banking sector but it was estimated that in the one year of 1995 alone our federal government could have saved roughly SIXTY FIVE BILLION DOLLARS in interest payments if we had gone back to creating half the total money supply through these low interest rate loans issued through the bank that is OWNED BY ALL CANADIANS.
Considering that our deficit was approximately thirty billion dollars for that year, simply by changing back to an already proven monetary and banking system, we could theoretically have had a FEDERAL BUDGET SURPLUS OF THIRTY FIVE BILLION DOLLARS in 1995.
The massive cutbacks in the Canadian military, in health care, highway construction, social programs and education were profoundly affected by these accounting practices?