https://www.nytimes.com/video/world/canada/100000010113524/how-metas-news-ban-could-disrupt-canadas-election.html?smid=url-shhttps://www.nytimes.com/video/world/canada/100000010113524/how-metas-news-ban-could-disrupt-canadas-election.html?smid=url-shareare
Rockin' On: the Blog
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Sunday, April 20, 2025
I voted for one my heros: Mark Carney.
Writing a glowing take on Mark Carney is difficult because he has accomplished so much. Where does one start? I'm going to pick his time at Brookfield Asset Management (BAM),one of world's great asset management companies and a Canadian one. Canadians can be proud.
I like to think of myself as green and I look for green concerns in others. Carney is green as is his wife, Diana Fox Carney. While heading Brookfield Asset Management, Carney gained fame and respect for his strong preference for ESG investing, environmental, social, and governance (ESG) investing.
Under Carney's leadership BAM favoured companies that took a measured approach to how they interacted with the natural world. Carbon emissions, energy use, waste management, pollution control and resource conservation and more were all considered when making investments.
I have an axe-the-tax relative who, thanks to the simplistic blather of Pierre Poilievre, believes one must be prepared to sacrifice the environment, to a certain extent, in order to have a successful economy. She does not want to see companies saddled with green costs that might cause them to curtail investment or something worse, like leaving Canada.
Carney had shown that being green and successful are not mutually exclusive. Addressing social concerns and believing in empathetic governance are also possible. Companies should care about workplace conditions such as employee health and safety and much more. When it comes to governance, executive compensation, board diversity and independence, transparency, shareholder rights, anti-corruption policies, and ethical conduct, all are important.
And what did Pierre Poilievre say about BAM? In three word, nothing of value. He attacked BAM. He took delight in pointing out that BAM took advantage of its Bermuda connection to escape paying Canadian taxes. What he was really pointing out was that he, Poilievre, seems to be completely ignorant of how business works.
Let me repeat what I discovered using Perplexity: "Carney said that the funds are set up so that the income generated by the investments is not taxed first at the fund level in multiple countries and then again when distributed to Canadian investors.
Instead, the income "flows through" the Bermuda-registered funds to Canadian entities, which then pay the appropriate taxes in Canada. This structure is intended to ensure that taxes are paid once, in the proper jurisdiction, rather than multiple times at different points in the investment chain.
"The beneficiaries of the funds—such as Canadian teachers, retirees, and municipal employees whose pensions are invested—do pay taxes on their pension income in Canada. Therefore, the use of Bermuda is not about evading taxes but about optimizing the tax process so that Canadian investors are not taxed repeatedly on the same income."
As a long-time Brookfield investor, I can assure you that Carney speaks the truth. The Bermuda connection was not news to me. If Brookfield did not take advantage of the Bermuda tax loophole, Canada might collect more corporate tax but shareholders and pension funds would receive smaller dividends and would see a capital gains reduction due to diminished after-tax profitability of the company.
Let's summarize what remains to be said about Mark Carney and it will be a long summary.
- 1965: Born in Fort Smith, Northwest Territories and grew up in Edmonton, Alberta
- 1988: earned a Bachelor of Economics from Harvard University
- 1993 and 1995: earned a Master’s and a PhD in Economics from Oxford University
- Moved on to Goldman Sachs, working in major financial centres including London, Tokyo, New York, and Toronto, eventually becoming managing director of investment banking.
- 2003: appointed Deputy Governor of the Bank of Canada and briefly was Senior Associate Deputy Minister of Finance
- 2008: Governor of the Bank of Canada (At this time, he and the Hon. Jim Flaherty, worked together to successfully guide Canada through the global financial crisis.)
- 2013: Governor of the Bank of England
Carney can add to his resume the time spent as chairman of the Financial Stability Board, chairman of the Committee on the Global Financial System at the Bank for International Settlements, head of Brookfield Asset Management and even more.
I would like to add one more plus to Mark Carney's resume: Diana Fox, now Carney. What a remarkable lady to have in one's corner.
- She holds degrees from Oxford and the University of Pennsylvania.
- She met her future husband, Mark Carney, at Oxford University, where she played on the women's hockey team and Mark Carney was backup goalie for the men's team.
- She has held senior roles at think tanks in Canada and the UK, focusing on energy and climate policy.
- She has worked as an agricultural researcher in Africa and for the charity IPPR.
- She served as executive director of Pi Capital in the UK.
- She has held leadership roles including vice president of research at Canada 2020 think tank and director of strategy and engagement at the Institute for Public Policy Research in London.
- Since 2021, she has been a senior advisor at Eurasia Group and to climate-focused funds such as BeyondNetZero and Helios Climate.
- She has served on the boards of several not-for-profit organizations, including Save the Children, Friends of the Royal Academy, Ashden, ClientEarth, the Shell Foundation, and BeyondNetZero. (I personally like Save the Children. I have supported two children for years,)
- She was described as an "eco-warrior" by The Daily Telegraph in 2012 due to her environmental activism and criticism of global financial institutions.
And what has Pierre Poilievre done? Other than attack-dog politics, not a lot. His biggest claim to fame, in my estimation, is his talent for oversimplifying complex issues with simplistic chants like axe-the-tax, spike-the-hike, Canada first, jail-not-bail plus many more. He also like name-calling, for example Sell-out-Singh. This school yard bully talk forms the base of Pierre Poilievre's rhetoric. Canadians deserve better.
Saturday, March 8, 2025
God is Dead!
I admit I did not have much interest in the question, nor much interest in the answer. It was clearly an attack on organized religion, especially Christian. A teen at the time, the whole argument seemed so esoteric. Too philosophical.
The Guardian says this about those times:
"Ultimately, the death of God movement fizzled after only a few years in the limelight. It turned out to be a last gasp of the liberal Protestant theology that was quickly losing ground in American culture and politics to a more literalistic evangelical tide."
Now, jump ahead to today and I find myself embracing a modified "God is Dead" philosophy. I was raised an Anglican. For me, God was Anglican. I had a friend who was evangelical. Some Sundays I took a break from attendance at my church and attended his. I also attended large, hall-filling evangelical events with my boyhood friend.
These events, so important to the Christian Missionary Alliance members and the Seventh Day Adventists folk plus others, were ignored by the Anglicans. The feeling seemed to be ignore the evangelicals and they will go away.
The Anglicans were wrong. The evangelicals did not go away. Rather than wither, the movement grew. We were foolish to have ignored it. Today, to an increasing extent, evangelicals rule. Today, the God I was raised to worship, the God of my Anglican Church, is, if not dead, awfully quiet.
I have relatives who are evangelicals. They send me Internet links to preachers they follow. They believe I will profit from listening to these evangelical preachers—if only I listen. Often, I don't. I find that I do not recognize their Jesus. My gut tells me these folk are misdirected, misinformed or worse, they are fakes, frauds, false prophets. Con men.
Anglicanism in my day sought a balance of scripture, tradition, and reason. This approach was far less dogmatic than that of the evangelicals today.
Literal interpretations of the Bible, encouraging believers to drill deep into The Book, only leads to confusion. At least, this is what I was told in the '50s. Listen to your minister, I was told. Otherwise, you will find yourself deep in confusion rather than faith. At best, evangelicals were debating the trivial; at worse, they were venturing into heresy territory.
For instance, the evangelicals, I knew, believed in the "end times." Many of the hall-filling events centred around the "end times" and the "rapture." According to my minister and his deacon, the end times was a misreading of the Bible. It was a heresy that just wouldn't die. It had been promised for a thousand years. Clearly, it had not happened and I was assured it wasn't likely to happen in my lifetime either.
Faith healing was another concept foreign to Anglicans. Faith healing was held in contempt by Anglicans as it was seen as profiting from exploiting the desperately ill. God gives us the strength to fight disease. Surgery fixes it. Given the choice between a faith healer, like Oral Roberts, or a surgeon like the one who repaired my badly worn heart, I go with the surgeon every time. If I thank God, it is only in passing.
My father had heart disease. Our minister offered spiritual and emotional support. His doctor offered nitroglycerine. Taking nitro relieved the pain better than prayer. That said, God did eventually end the pain. Dad died.
So, was my God cold? Indifferent? No, not in the least. The old God of the Anglicans was not into making a lot of promises that he would not keep. My God was a realist, a teacher, a leader . . .
The Anglican God, the Anglican Jesus, spoke of loving one's neighbour as one's self. Showing compassion and actively caring for those in need was a core belief. If I had to put God on the political spectrum, God would have been left of centre.
Let's look at a few religious hot-buttons. Let's compare today's evangelical God to the God of my youth.
Public Housing: Some evangelicals are wary of tax-dollar assisted public housing. I have a friend who falls into this category. A good example would be Scott Turner who runs HUD under Donald Trump.
Turner was an associate pastor at Prestonwood Baptist Church in Plano, Texas, a prominent evangelical megachurch. As a Texas state legislator, Turner consistently voted against initiatives aimed at aiding the poor and expanding affordable housing. He called welfare "dangerous, harmful" and "one of the most destructive things for the family."
Sidebar: I was raised in a government subsidized Wartime Housing project. My father was a department store salesman. My mother was a stay-at-home mom. Although my dad always had a full-time job, he worked hard, his jobs paid very poorly. I don't believe he ever made more than $5000 in any given year. Often he made much less.
Today, I believe one of his great granddaughters is firmly against such government funded housing. Without public housing I wonder where my sister and I would have lived and how my parents would have kept their pride intact.
My God, my Jesus, was in favour of taxpayer-funded public housing.
Single Payer Health Systems: Contrary to what you may have read. Single Payer Health Systems are not socialist. It is a form of universal healthcare where the government pays for all covered healthcare while the providers are private. Think of it as healthcare insurance for all with no fine print. No loss of coverage due to preconditions.
Many evangelicals believe in personal accountability and self-reliance. If you can afford better healthcare, you should be able to have it. It is a multi-tiered, capitalist system. You get what you can pay for. Haven't got much money? You won't get much healthcare.
Dr. Steffie Woolhandler found that many who lack insurance coverage in the United States die as a result. It is probably safe to say more than 70,000 Americans, aged 18 to 64, die annually from lack of healthcare.
One might think the number of Canadians dying from lack of healthcare would be zero. It should be but it isn't. The number is not as high as in the U.S. but thousands of Canadians still die annually because of failures in the Canadian healthcare system. Wait lists are so long that people die while waiting.
My Jesus, I believe, would opt for the single payer system. Based on the data I found, the average cost of a comprehensive health insurance policy for a family of four in the United States is approximately $24,301 per year. This amount is less if the payments are employer supported.
In comparison, Canadians only spend half of what Americans do, hence the healthcare problems. No money. I believe Jesus would be in favour of raising taxes in this instance. Canadians are getting a free lunch here, or at least a low cost lunch, and it shows. The taxes, of course, would be progressive.
Sidebar: I have had robotically-assisted open heart surgery for a leaking heart valve; I have had two pacemaker/ICDs implanted and I may well live long enough to get a third; I've had a broken hip repaired with a titanium implant; I've had lifesaving emergency minimally-invasive surgery for a totally obstructed bowl; And the list goes on. In the States, I would be have died.
Free will or freedom of choice: Think of the Covid-19 vaccine. In Canada, it was, for the most part, mandatory. A lot of evangelicals were incensed by this. Anger over the mandating of covid vaccine was a big force in driving Justin Trudeau out of power. In their view, Trudeau was intent on taking freedom of choice away from Canadians.
The "Freedom Convoy" participants were heroes in their eyes and Trudeau a socialist dictator. I thought taking an action that could damage, possibly irreparably, his political future was brave, gutsy, a moral choice. My Jesus would have smiled and applauded.
This contrasts with the evangelical Jesus, who is quite willing to sit on the sidelines while his followers seek the "truth." Many evangelicals didn't join the fight against covid immediately. No, they first sought the truth. They asked questions and listened to everyone saying anything. Everyone is worth a listen. Really? Everyone?
For instance, they learned the vaccine was rushed to market. It wasn't. Research on mRNA technology began in the 1980s and large advances were made in the following decades. Science was ready. Evangelical Christianity wasn't.
The Jesus of my youth was in favour of community safety over individual rights. I believe he would have seen the evangelical take to be simply selfishness. A bit of the me first philosophy leaving a stain on Christ's followers.
I could go on but I will stop here. I am finding it difficult digging into the death of my God. When my evangelical friends and relatives talk about the Russian invasion of Ukraine, they claim, "It is very complex." Some even repeat Trump's and Putin's talking points.
My Jesus finds it easy to denounce the killing, maiming, raping and kidnapping being done by the Russians as wrong. It is not complex. As Christians we should be doing all we can to put an end to it and that does not mean bowing down to evil. I believe my Jesus would have challenged the Russians when they threatened Crimea. My Jesus would have hoped his followers would have taken immediate action, stopping the killing before it started. My Jesus has a spine.
Reading what I wrote, I have changed my mind. God, my Jesus, the Jesus of the early '50s may be dead to many now but it is only temporary. He will be rediscovered—resurrected. Reborn. You can't keep a good God down.
Do you want to know more? Check out this link: God is Dead.
Saturday, February 22, 2025
Do we have a "right" to build ourselves a single family home?
I have a close relative who has opinions on everything. When we chat, especially online, we get into long, tedious discussions that lead nowhere. You see, I, too, have opinions on everything and my opinions do not agree with hers. Oops!
She is big on personal freedom. Don't infringe on my space. Period. Governments pass rules and regulations setting the rules we live under and thus governments infringe on her personal freedom. She had an example.
In a small community where she lived, a percentage of homes had to be town houses, a percentage semi-detached and single family homes could only use X amount of land. These rules were not enacted by the town but forced upon the town by the provincial government. She felt a small village should be allowed to plan its own approach to urban expansion and not be forced to adhere to urban-use guidelines devised by the Provincial government.
This sounds reasonable but is it?According to the Ontario Farmland Trust, in the past 35 years, Ontario has lost 2.8 million acres (18%) of its farmland to non-agricultural land uses like urbanization and aggregate mining.
And the rate of farmland loss is increasing rapidly. The loss was 319 acres per day according to the 2021 Census of Agriculture, and may well be more today.
I was raised by an ex-farmer living in Essex County, Ontario. It was the early '50s, 70 years ago, and he and my mother complained about urbanization way back then. They saw the agricultural land of Essex County as some of the best in Canada. Today, when I drive around Essex County, the substantial loss envisioned by my parents is obvious.
My relative does not understand that when she hates government for infringing on her right to build a single family home on as large a chunk of land as she can afford, she is hating me. The government should be, but all too often isn't, the voice of the people. In this case, it is. It represents my voice and the voice of others who feel as I do. If it were left to me to write the regulations, even my home, which I love, would never have been built. (Don't tell my grandchildren.)
I live on a finite planet and I hope my descendants will be able to eke out a good life on this planet for thousands of years to come. Sadly, I don't believe the planet I am leaving my granddaughters is in good shape. It is an indisputable fact that the earth is not as healthy a planet as when I was born. And the planet then was nowhere near as healthy as it was when my grandparents were born in the mid 1870's. Now, jump ahead and I ask you, "How healthy will our planet be in a millennium?)
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The idea of losing farmland frightens me. On the other hand there are folk investigating alternatives. Greenhouses immediately come to mind. The following is from the Lufa Farms Internet page.
"Growing vegetables hydroponically on rooftops is an efficient way to feed cities sustainably. Learn about the ins and outs of urban agriculture."
"The Marché Central, Montreal, greenhouse shown in the post was completed in 2024. Using advanced design elements, including high-intensity LED lights, insulated double-paned perimeter glass, a diffused glass roof, and double curtains, this greenhouse is our most technologically advanced site yet and is anticipated to generate up to 20% more produce than conventional greenhouses of similar size."
Friday, January 10, 2025
What has Trudeau done to make you hate him
One of my nieces sent me an email linking to a You Tube video by Kevin O'Leary. She and her older sister have a hate on for Prime Minister Justin Trudeau. I am not sure why. I know Trudeau made some big mistakes, immigration and the quickly growing national debt, immediately come to mind.
He was in power for nine years. Surely, he did something right.What really bothers me about the criticism is the nasty tone of much of it. The title of the You Tube post is:
Kevin O’Leary: Trudeau, the ‘Idiot King,’ is Gone—But ‘Dante’s Hell’ Awaits Next Leader
Some of the statements made by O'Leary are correct but I doubt a lot of folk would pick-up on the complexities colouring these statements. But when O'Leary claims foreign investment per capita in Canada has collapsed under Trudeau he is wrong. During Trudeau's time in office the foreign investment per capita grew almost 7% more than it did under the previous PM, Stephen Harper. This may reflect a more favourable environment for foreign investors under Trudeau.When O'Leary attacks Trudeau on his energy policies, he repeats attacks told by Pierre Poilievre and repeated by others. For instance, O'Leary claims that interest in pipelines collapsed under Trudeau. Any investor knows this is not true.
Quoting the National Observer, a left of centre news source, "While Canada was (said to be) “closed” for oil and gas business, the industry increased its oil production by more than a million barrels per day. Its biggest companies posted record profits in 2022, and then almost did it again in 2023. Meanwhile, in 2024 the federal government completed the construction of the first pipeline to Pacific tidewater in decades, one that immediately (and significantly) increased oil prices received by the same companies complaining so bitterly about Trudeau’s reign. LNG Canada, meanwhile, is set to begin operations in 2025, and will have a similarly beneficial impact on the price of natural gas in Canada and the companies that sell it.
As a Canadian investor, I follow pipeline companies like Enbridge. I have appreciated the solid, unwavering support the federal government gave when it came to the Enbridge Line Three problems. Another quote: " Justin Trudeau has been the best prime minister their industry has seen in decades. He has done more to advance their interests, often at the cost of his own political capital, than any of his living predecessors. In addition to TMX and LNG Canada it also fought successfully for Line 3, a major expansion project that faced significant political resistance from the Democratic governor and other politicians in Michigan. Oh, and it also threw more than a billion dollars at the oil and gas industry to help it clean up its old oil and gas wells."Has Trudeau any black marks against him when it comes to pipelines. Depends on whether you are into saving the planet or not. Trudeau's administration cancelled the Northern Gateway project shortly after taking office, fulfilling a campaign promise to ban oil tanker traffic on British Columbia's northern coast. This decision was seen as a clear signal of shifting priorities towards environmental concern.O'Leary attacks Trudeau for the change in how energy and mining permits are granted. With energy permits, Trudeau advanced a process containing a lot of environmental scrutiny. With mining permits Trudeau slowed approvals by moving emphasis to sustainability. Those who like Trudeau like to say he has focused on balancing environmental concerns with industry needs. This has not made industry happy and clearly has not pleased either O'Leary or Poilievre. Me? I'm pleased.O'Leary states what most of us already know: Canada's wealth is heavily tied up in its natural resources. But which party is better at guiding Canada into the future? Personally, I am not a big fan of Trudeau and have taken a strong dislike to Pierre Poilivre.The Canadian economy needs diversification and better resource management to ensure long-term prosperity and resilience against market fluctuations.For this I pick Mark Carney. Carney has quite the resume. He cares about the environment and he has business smarts that no one can doubt.I'd go on but the truth is just as I said at the beginning. Trudeau has failed to beat his own drum and he has made mistakes that have often been blown out of proportion by the opposition but they are still mistakes. It is time for a change. I'd vote for Carney and Freeland in a flash. I am very suspicious of anyone who refuses to get security clearance while making insulting, childish, personal attacks on the other party, as Pierre Poilievre likes to do. O'Leary takes the same rude approach, an approach that is being emulated by more and more people, when he refers to the prime minister as an "Idiot King".Canada's debt is far too big and growing far too fast. The Liberals have not run a workable budget. When Freeland resigned she made it clear she could no longer go along with a "costly political gimmick". For that reason and others, I like Mark Carney and Freeland. They are bright, Carney has an especially strong background in government finance, and they might find ways of making the difficult decisions palatable.P.S. One last thing, I am very proud of the way Justin Trudeau treated Canada's indigenous people. As of January 2025, 132 long-term boil water advisories have been lifted in Canada, while 33 advisories remain active across 28 indigenous communities. Compare the Trudeau response to the problem to that of Stephen Harper. Harper's government did not implement binding regulations for water quality on First Nations reserves, which contributed to ongoing water crises. The absence of such regulations meant that First Nations lacked the same protections that non-Indigenous communities enjoyed.Why so many folk are listening to people like Kevin O'Leary and Pierre Poilevre is mind boggling to me. The world is a complex place and requires adult discussion between the opposing sides. Repeating "axe the tax" is simplistic. Get rid of the carbon tax. Fine. But what are you, Pierre, and your party going to do about the carbon problem?I could write a lot more but enough, Betty. I think you can see I am not swayed by the linked video.Cheers,Kenp.s.I look forward to a short comment.
Friday, December 27, 2024
Dancing Grandpa! Or, Heart Failure Be Damned.
Today was Christmas and the cockroach was up at daybreak. Isla, my youngest granddaughter, caught me, the cockroach, doing my Christmas dance. I have heart failure and a new hip, replaced after a fall playing basketball.
I am living proof that the Canadian healthcare system can work. I have had robotic surgery to repair a failing mitral valve in my heart. I had my first pacemaker/ICD placed in my chest almost two decades ago. Next year, I plan on getting my third pacemaker. Life is good!
You often read stuff about the Canadian healthcare system, bad stuff, sadly it is not all lies. Some of it is true. That said, the American system has its flaws. I had my first heart incident while visiting a friend in California. Despite running up a huge bill, the U.S. doctors did not discover what had caused my heart to go into overdrive, requiring a big, and very painful, electrical jolt from the two paddles of a defibrillator to return my heart to its normal rhythm.
I seem to be impossible to keep down. My doctors all agree that of all animals, the you-can't-keep-'em-down cockroach best symbolizes me.
I wanted to share this video and did not know where to post it. I decided my blog might be as good a place as any to post it. Enjoy.
Click on the broken square in the lower, right corner of image to enlarge.
Tuesday, November 26, 2024
I see The Rapture as dangerous nonsense.
When I a boy The Rapture was seen as just nonsense by all the religious folk I knew. My minister, his curate, my Sunday school teacher and my mom all agreed: nonsense. Today belief in The Rapture has grown to the point that belief in it has even infected my friends and co-workers. It may have even touched my family.
Recently, a nephew posted a link on Facebook to a book by N.T. Wright and Michael Bird: Jesus and the Powers: Christian Political Witness in an Age of Totalitarian Terror and Dysfunctional Democracies. The title is a bit of a mouthful but if I understand correctly, Wright and Bird think The Rapture is not just nonsense but dangerous nonsense.
I read that Michael Bird has posted warnings about Donald Trump. Good for Bird! I understand that Bird been very critical of Donald Trump, particularly when it comes to his influence on evangelicals. Bird points to a complex relationship between evangelicalism and Trump, a relationship in which a surprisingly large number of evangelicals supported Trump.
One source found by an AI search engine reported: "Bird has analyzed why a large percentage of white evangelicals voted for Trump despite doubts about his faith and character. He suggests that this support may stem from a desire for political power and influence rather than genuine alignment with Christian values. He points out that Trump's behaviour and statements often contradict traditional evangelical beliefs, raising questions about the authenticity of his faith."
The following expresses my position better than I could ever could: Bird expresses concern about the implications of supporting leaders like Trump who exhibit authoritarian tendencies. He agrees with N.T. Wright in arguing that Christians should actively oppose totalitarianism and work towards sustaining liberal democratic values, emphasizing that true Christian witness involves promoting justice and mercy in society rather than aligning with political figures based solely on their stance on specific issues like abortion.
So, just who are these two authors? I found the following on the Christian Book website:
N. T. Wright is the former bishop of Durham and senior research fellow at Wycliffe Hall, Oxford University. He is one of the world's leading New Testament scholars and the award-winning author of many books, including?After You Believe, Surprised by Hope, Simply Christian, Interpreting Paul, and The New Testament in Its World, as well as the Christian Origins and the Question of God series.
Michael F. Bird is Deputy Principal and Lecturer in New Testament at Ridley College,?Australia. He is the author of numerous scholarly and popular books on the New Testament and theology, including, with N. T. Wright, The New Testament in Its World (2019).
I don't agree with every position that these two take. But, when it comes to The Rapture and Donald Trump and a lot of other evangelical concerns so dominant today, I must say that I find Wright and Bird dead on.