Monday, June 21, 2010

Exotic Solutions, Surely Imaginary

Has anyone ever heard of this place? I can only guess it has been cobbled together from the fitful imagination of a novelist or script writer, probably a closet communist or worse. Or maybe this is actually from The Onion:

The 20 world leaders at an economic summit in Toronto next weekend will find themselves in a country that has avoided a banking crisis where others have floundered, and whose economy grew at a 6.1 percent annual rate in the first three months of this year ... There was no mortgage meltdown or subprime crisis in Canada. Banks don't package mortgages and sell them to the private market, so they need to be sure their borrowers can pay back the loans.
"Canada"? Is that supposed to be cuh-NAY-duh? cuh-NAH-duh? Maybe CAN-uh-duh or CANE-uh-duh? Don't even get me started on how to pronounce this "Toronto."

Whatever. Sometimes the place names are the biggest giveaway that we're in the fever dream of fiction. Here on earth, every credible thinker in economics will tell you there's no free lunch, that wealth is the reward of manly risk -- and, ergo, ever-greater and ever-manlier risk is the only path to wealth -- and that trying to restrain banking with rules is like trying to keep dogs from barking, and therefore, we must reduce the tax burden on the richest people and stop making private enterprises follow rules.


Reuben said...

Well Dale, as difficult as this may be for you to hear, I will vouch for the existence of the magical fairyland in question, being one of its residents. But you are not the first to suffer confusion over its name, as indicated by one of the "Part of our Heritage" commercials that sometimes runs over here in Neverland.

Dale said...

Reuben, thanks for adding to the idea that large numbers of people share, namely, that there's this "Canada." Maybe it's a form of psychological self-defense. I'm not going to undermine it.