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What Goes Around

By Jerad Gallinger

In an effort to erase last week’s record losses on the Toronto stock market from their memory, Canadian traders sent the TSX soaring by 1600 points first thing this morning, its biggest opening rally ever. This comes a day after the Dow posted its largest one-day point gain of all time, closing up 936 points, or 11 percent (the TSX was closed Monday for the Thanksgiving holiday). In other economic news, the U.S. government has announced that it will partially nationalize nine major American banks in an effort to stabilize teetering financial markets. The news leaves Canadians asking one question: who’s the socialist mommy state now?

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  • PickleToes

    Yep, I agree, the US is a socialist state. In fact, I think it has been for a while. Pay attention Torontoist socialists, the bailout shows you the true beneficiaries of this broken and outdated ideology are: the rich.

  • Gauldar

    It’s no surprise to me. I like the quote from Ralph Nader’s father:
    “Capitalism will always survive in the United States as long as the government is willing to use socialism to bail it out.”
    Sure, the guy is obnoxious to listen to but he does make a few good points.

  • Lauriemc

    I love the Nader Sr. quote! Good point indeed, thanks for sharing.

  • torontothegreat

    >Capitalism will always survive in the United States as long as the government is willing to use socialism to bail it out.
    What does Socialism have to do with bailing ANYTHING out?
    Distribution of wealth people, distribution of wealth…
    If anything Nader Sr’s comments only further prove that there is dis-proportioned wealth in America created by capitalism.

  • PickleToes

    torontothegreat: Yeah, socialism is about the distribution of wealth, but there’s a method behind moving all the money around: Give resources to failing (in the most respectful way) people and businesses.

  • torontothegreat

    lol, you have no idea what socialism or capitalism is do you?
    Please find for me a definition for socialism that includes the phrase:
    >Give resources to failing (in the most respectful way) people and businesses.
    The fact that you said ‘businesses’ tells me you know absolutely nothing about socialism or capitalism for that matter, you just like to throw the words ‘left and right’ around but clearly you know little of their meaning(s).
    So go play your armchair game of political ‘left vs right’ bashing *yawn*

  • PickleToes

    What’s wrong with saying “businesses”? Socialism isn’t necessarily anti-capitalist.