Boom And Bust

"Canadian Labour Congress/Jobs: Labour to the Bank of Canada, 'Don't Slam the Brakes!" Employment is at the highest level since 1974. Commodity prices are at the highest level since 1974. Inflation is lower than in 1974 In 1972 the Arab Oil embargo led to increased oil prices and increased employment and wages. 1974 the markets crashed and led to the long recession of ten years and increasing interest rates and declining employment. Wage and Price controls were introduced followed in the eighties with the high interest rate policies of the Tories. All for naught. Things got worse until oil and the markets were regulated. "Canada Mortgage and Housing Corporation: Strong Labour Market Fuels Housing Sector Canadian economy booms with gains in consumer spending" With current worker productivity (surplus value) increased three times higher than wages, despite the failure of Canadian capitalists to invest in productive technology, the market boom is being driven not by production or manufacturing by by consumer growth in the housing and extended credit card debt. Read the whloe article here http://plawiuk.blogspot.com/2006/06/boom-and-bust.html

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