Trudeau's selfies won't cut it

peterdiekmeyercontributor's picture
Trudeau's Selfies Won't Cut It - Peter Diekmeyer

By Peter Diekmeyer 

November 6, 2017

When Justin Trudeau took office as Prime Minister two years ago, he also took on the Minister of Youth portfolio. It was a tough assignment, atop a government infrastructure designed from its core to disregard the interests of Canadian youth.

Government is about power and Canadian youth have none. Without interest group backing, it’s almost impossible for anyone, even a Prime Minister, to make meaningful change.

That said, a quick survey suggests that unless Trudeau takes concrete steps, the government apparatus will leave the country’s youth as a generation, for the first time, worse off than their parents.

It also suggest key takeaways about how younger Canadians might want to prepare for the future.

Consider:

Government hiring practices discriminate against youth

The seniority system and job security prevalent in union contracts negotiated by the Canadian government, the country’s largest employer, systematically block out youth and innovation.

In Canada, not only is it legal to discriminate against youth, Government, at all levels, paves the way.

Government funds target seniors

The Canadian government’s two largest categories of spending are pension benefits and medical benefits which almost exclusively benefit seniors. While everyone knows this about pensions, less well-known is the fact that the lion’s share of medical spending is for Canadians over the age of 50.

The net effect is a massive wealth transfer from the young to the old.

Debts left to Canadian youth

While government jobs and spending are targeted towards older Canadians, government debts are left to the next generation. These include trillions of dollars’ worth of unfunded liabilities, none of which are officially recorded in government books, and which today’s young naturally have no clue about.

Trickle down policies transfer wealth from youth to older Canadians

The Bank of Canada’s complicated low interest rate policy and market manipulations (which few understand, let alone Canada’s young) are designed to boost housing, stock, and bond prices.

The hope is that the holders of these assets will spend that money, generating a “wealth effect” that will trickle down to ordinary Canadians.

But those asset holders are almost all older Canadians. The people hoping to buy them (and who get stuck paying the higher prices) are younger Canadians.

Government central planners destroying the environment

One of the oddest developments following the end of the Cold War was the discovery that Western economies (which still had some functioning free markets back then) had better environmental records than Soviet state-planned economies.

These days (with the rise of government and central bank power), free markets are essentially a thing of the past in G-7 nations, which are now essentially all state-run economies.

Not surprisingly, G-7 nations’ environmental records are starting to resemble those of the old Soviet era planned economies. G-7 nations are, for example, the world’s highest per capita emitters of greenhouse gases.

Ironically, it is the public sector, not businesses, that is mostly at fault.

Government mandated low-interest rate policies are subsidizing high pollution capital assets (in two of the world’s largest carbon emitting industries) that the free market would never allow.

First, low interest rates provide huge subsidies for the purchase of all automobiles and SUVs (not just fuel-efficient ones). These make public transportation less attractive.

Second, low interest rates massively subsidize cattle production (whose methane gas is one of the biggest producers of GHGs), making meat farming more attractive than vegetable farming.

Free market interest rates would have reversed both those trends.

Finally, free markets would have spurred several hard recessions during recent decades, and possibly very hard depression.

Bad as that may sound, these would have squeezed as much of the rot as possible out of government and various zombie/protected industries.

More importantly for Canada’s young, they would have created job openings for youth as well as opportunities to innovate and start new businesses.

Leveling with younger Canadians

There are two takeaways from this. The first relates to Trudeau, a former high school teacher and father of three, who does appear to care about Canadian youth on a personal level.

In fact, the Liberal government has made several public relations moves to appeal to Canada’s youth. These actions (though immaterial in the overall scheme of things) range from recently-announced funding increases for family allowances to fostering a Prime Ministerial youth advisory council.

However, governing is about more than cosmetics and selfies.

If Trudeau really wants to help Canadian youth, he needs to use his bully pulpit to raise public awareness of the structural issues they face. Until then, Canadian youth are on their own.

The sooner they begin to prepare themselves, the better.

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King of Ruperts Land's picture

The PM of 50% Woman, 50% Natives, 50% Islam, and 100% anal coitus.

yarpos's picture

How do you emit carbon?   do you shit charcoal BBQ beads or something?

PenGun's picture

Ah it's so good as an old Canadian with nothing. I'm very poor and 71 years old, so they give me free medical and $1500 a month.

It's not huge but I own my fifth wheel, and my nut is just under $600. I can get by, and even give my daughter $100 a month, to help with my grandchild.

I'm not complaining.

new guy's picture

This article is bullshit. The author is attempting to deflect anger away from our government's criminal mismanagement of our affairs and direct it instead at senior citizens, most of whom are helpless victims of an economy which has become inimical to us all. GOVERNMENT IS THE PROBLEM.

HotelBread's picture

The screed at the end of the piece, flogging the global warming hoax, didn't help it either.

ali-ali-al-qomfri's picture

Trudeau has a soft wood, problem.

So Trump sent him a pallet of Viagra.

johnnycanuck's picture

What's the child tax benefit up to now?  About $350 to $400 per child per month straight into the pockets of young parents?

When I was young and had my first child  they called it family allowance and the most I recall receiving was $21 per month.

I took that money and squirreled it away for his education in a GIC. When he got money for special occasions that went into investments too. When he wanted to go to college, there was more than enough money to cover his machinist training.

Investments paid reasonable interest back then. We didn't have anything to do with changing to casino financial policy.

I bought an old run down farm too, renovated the buildings mostly by myself, plowed the land, cut wood, grew a market sized garden, froze the excess for winter, raised meat birds and grew a herd of beef cattle, fixed my own vehicles. taught myself how to do body work so I could have an old truck without holes and all of which I accomplished in the hours before I went to work the evening shift.

You?

 

kahplunk's picture

You get a gold star. Let me guess 70's n 80's

Pareto's picture

retarded article.

 

sure the majority of benefits goes to the old - but you can hardly say thats a WEALTH TRANSFER since it is these aged benefit receivers that are the people who paid into it - with $$$$ worth a fuck of a lot more than they are today.  A wealth transfer assumes that the former group actually earned wealth - later transferred by the state.  the youth have not contributed fuck all.  So where's the transfer.

 

dumb article.

pitz's picture

The young mostly aren't even allowed to work in Canada.  

pitz's picture

Good points about the public sector.  They've basically rigged the system so only their friends and family already in the public sector "qualify" for the jobs.  To top it all off, there aren't many good quality private sector jobs in Canada.  

Juggernaut x2's picture

Canada can't even win Lord Stanley's Cup any more.

Abbie Normal's picture

A good beginning would be for the youth in the photo to realize that taking a selfie with the boy king, or holding their net worth in their hands (iphone, bracelets, wrist passes, necklaces, etc.) is not considered sound financial planning.  And when you're employed by the government, it means starting at the bottom and working your way up.  That's why there are no teenage ministers or generals.  If you want to jump to the front, then start your own business.  Just realize that of the top 100 billionaires in the world, less than 20% were self-made.  But do take that 1 in 100 million chance of succeeding because it's all we have left.  Coincidentally, those are even worse odds than winning a major lottery prize.

jin187's picture

The moral of this story:

Get old, get stuff.

yarpos's picture

and perhaps stop whining and create wealth along the way

it always gets me how people like the author completely gloss over what they have handed to then on a platter (power, sewer, running water, roads , hospitals, the Internet etc) and then complain about what others have.   That side of the ledger on what is transfered to who never gets mentioned.

Anderson Coopers Gerbil's picture

He punched out a drunken Indian once

charlewar's picture

nobody kisses muslim filth ass quite as good as Trudeau.