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Hamiota Echo Newspaper Archives Jan 5 1983, Page 2

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Hamiota Echo (Newspaper) - January 5, 1983, Hamiota, Manitoba Published every wednesday by herniated Echo publications Ltd. . Box to herniated Manitoba rom Oto advertising rates available upon request Ilia second class Man registration no. 0799 Manitoba subscription rates payable in Advance Hin per veer per year . And i be land association Staple copy lie bade issues Sec each . Don Venables publisher Canadian business by Garth Turner everybody is after answers. Is the world really getting better or is it time to stay in hiding and what kind of advice Are we shelling out lately Well first lets get some basics straight remember these words a volatility markets Are going nuts. Stocks Bonds commodities a All that stuff. Some Days they fall into despair and others they Burn up. Investors and big time traders have been frantic for Good news for the better part of two years. When any of it comes markets vastly overplay it and poor Sheleps who own stocks and the like Are set up for massive punches when the Market crumbles. A desperation interest rates Are not coming Down because things Are getting better. Of no far from it. Rates Are lower because things Are getting worse. Business investment has dropped off bankruptcies in 1982 were up 40% Over 1981, unemployment is 55% worse and there is no solid meaningful. Evidence that consumer Confidence has grown. In fact and this is a bad Sig there is More Money tied up in Banks and 12% Canada savings Bonds than Ever before. People Arentt spending. There is no real Ray of Hope. And so in stage one desperation feds Here and in the . Are lowering rates to try and stimulate the Economy Back to some sort of health. The had part is that while your savings accounts Are Likely to drop in return to 6% or 7%, lower lending rates Are a Long shot at helping recovery. That should Lead to stage two desperation which is when Marc Lalonde brings in 1984 a year Early and tries to manipulate the whole Economy. Control City kids. Hang on meanwhile there Are going to be almost 2 million out of work by the time this thing gets going. And after the feds try to stimulate better times with Low rates increased spending a fatter deficit and make work programs we Are truly going to be in a mess. A and now reality. Okay this economics business is Fine and Dandy for deep thinkers but the reality is you Are Likely to come out of 1983 with less Money than you have now. Inflation is still 10%. But the feds have indexed your 1982 income taxes at 6% a which Means personal taxation is right now 4% higher than last year. Added to that is a 40% boost in the unemployment insurance payments you will have to make. Then of course there is the six and five world. In 1981, we generally got 12.1% More than the year before. This year that will drop to a 10.3% hike. And in 1983, it will plummet to 6.5%. Given that increase in taxation and inflation real after tax wages Are about to decline. A a we la be Lucky to see any real wage advances in 1983,�?T�?T says Toronto Dominion Bank economist Sid do Goy. A and that plus unemployment that a going to stay at least at 12% through the year will keep Consumers from wanting to what you see is what you get. Its a deflating world baby and the rules have changed. Now a the time to hate debt. You invest for the Long term instead of for three months from now. You get incredibly interested in stuff like your marginal tax rate and get sheltered. And you take a hard look at the Wisdom of keeping assets in Cash at a time when the Price of commodities is falling. A $69 radio i bought in september is now $49. A $58 pair of track shoes is now $27. Five Hundred Dollar color tvs Are $389. Investment advice read the week in Canada on january 3, in 1863, the first covered skating rink opened at Halifax and in 1941, Canada and the . Got bases in Newfoundland on a 99 year lease. On january 4, in 1688, inhabitants of Quebec held meeting to discuss the Price of bread and in 1790, Spain demanded Britain to evacuate Vancouver Island. On january 5, in 1838, . President Van Buren prohibited Aid to Canadian rebels and in 1912, the first hockey on artificial ice was played at Vancouver. A on january 6, in 1643, Maisonneuve erected a Cross on mount Royal and in 1878, Newfoundland refused to allow americans to fish on sundays. On january 7, in 1859, Silver coins were minted for Canada and in 1955, the opening ceremonies of parliament were televised for the first time. A Paul Hellyer separating the wheat from the chaff on nuclear policy and disarmament is no mean feat. And the task Isnit any easier when the pronouncements emanate from the clergy and carry the moral authority of the Church. The . Roman Catholic Bishops made headlines recently when they attacked . Nuclear policy. In a draft pastoral letter they angered the Reagan administration by i vigorously attacking the doctrine of nuclear deterrence 2 demanding a missile freeze 3 urging a disarmament Accord with Moscow 4 criticizing the deployment of my missiles and 5 vetoing the first use of nuclear weapons. While one can sympathize with the Bishops concern and stoutly defend their right to speak out on moral issues there is no greater evidence of infallibility in this Case than with the Bishops of Rome when they excommunicated Galileo for challenging their inspired but incorrect View that the Sun revolved around the Earth. Looking at the five Points in reverse order it is easy to agree that the West should follow the soviet Lead in renouncing the first use of nuclear weapons. But anyone advocating this policy should be prepared to pay the Price. The soviet position Isnit born of moral superiority. It stems from the fact that they have the Edge in non nuclear arms. The West offsets this advantage by leaving it unclear As to whether and when Battlefield nuclear weapons might be used. I think we should have sufficient conventional strength to deter conventional attack. But this would mean a greater commitment by All nato countries than they have been willing to undertake to Date. The Bishops Are in Good company in their opposition to the my missile. Especially when there is no agreement As to How they would be deployed. President Reagan a dense pack solution has to be \ one of the most absurd cases of too Many eggs in one Basket in the annals of military blundering. Unfortunately the Melet would Only be obvious when it was too late. The dynamics behind the my missile must come from the United states air Force. And not because its critically important but because its an air Force system. Its better to deploy missiles at sea where they Are relatively Invulnerable and away from populated areas. But that a Navy territory and already the traditional air Force a a ownership of strategic command is threatened. Hence the panic. Its the kind of politics that s inevitable with three separate services. The demands for a missile freeze and a disarmament Accord with Moscow can be lumped together. Both make eminent Good sense a but Only if mutually agreed and neither the freeze nor reductions give an advantage to one Side or the other. Finally the Bishops attack on the doctrine of nuclear deterrence sounds More appropriate to the next world than to this. Think of the consequences. If the West dismantled its strategic nuclear forces unilaterally it take More than a few months for the soviets to blackmail the world into submission and adherence to its Empire. Surely the Bishops done to want to plunge the world into a repeat of the dark Ages when Only one Point of View was permitted and heretics were burned at the stake. Today a equivalent May be confinement in a psychiatric Hospital but its no More appealing. The Colorado River it s estimated carries 250 million tons of solid Materiel per year through the grand Canyon

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