There comes a point when you’ve moved past trying to stay optimistic in the face of bad news into the realm of the simply deluded — or, no better, into that of the propagandist. Few of my readers will be surprised to learn that I think the Globe & Mail has crossed into this dark and tragic realm, but I still thought I should not allow them to take their most recent step without being called out for their unmitigated bullshit:
People are continuing to take on debt past age 45… But there are positive sides, too. With all that debt, they will need to find continued sources of income... Need drives innovation, and Canada will see an unleashing of creativity from older people. It’s risky to be punch-drunk, and many people are courting more than a bit of risk; but in risk is the possibility of growth.
Here’s a hint for the editors of the Globe & Mail: when you find yourself arguing that it is good for the country to have a large number of seniors heavily in debt, or for that matter any large class that is heavily in debt, you need to recheck your moral compass. Assuming you still have one. Arguably you should also check said compass if you find yourself arguing that debt is good because it makes people work hard.
It is increasingly clear that Canada is careening towards the same death spiral the Americans entered in 2008. When that happens, the Harper regime will claim it is an unexpected travesty caused by out-of-control public spending, even though it is entirely the result of lax economic management on his part, and tax rates cut so low that the public services Canadians expect from their government, like healthcare and Old Age Security, cannot be “sustained.” And when we hit that point, the yes-men pretending to be journalists at propaganda outlets like the Globe will nod along, no doubt, and agree that nobody saw it coming and that reducing the population to impoverishment is the best thing to do, because, after all, poverty inspires people to work hard and innovate.
The Globe & Mail eagerly looks forward to millions of people nearing retirement while heavily in debt because it thinks that desperate seniors will somehow “innovate” masses of new jobs. It seems to me that the opposite possibility is much greater — that we will have a wave of seniors desperate to eke out a living and unable to enjoy the twilight of their lives as this country has guaranteed them for almost their entire lives.Tweet