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Bruce Dowbiggin

How Retirement Money Now Funds The Radical Movement

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The middle class has reportedly never been so educated, so informed. At the same time, the same middle class has never been so blissfully ignorant. Case in point: Much of this adult cohort have their retirement savings invested in IRAs, Registered Retirement Savings Plans, mutual funds and other institutional vehicles.

Where, as shareholders, they earn a consistent return from, among other things, dividends, stock increases and share splits. The Rule of 70 says that a few decades of growth will double your money and will render enough money upon which to retire.

This process is all overseen by benevolent CEOs, boards of directors and investment experts boosting shareholder value. So why should anyone lose sleep or attend shareholder meetings? After all, Bank of Montreal has only missed issuing a dividend twice since its founding in 1817.

Actually there is real cause for urgency. Shareholder value, the bedrock of these investments, is now a piggy bank being robbed by outside players who use ESG, DEI and other nefarious acronyms to intimidate said CEOs, boards of directors and investment experts into doing their bidding.

That bidding is portraying the traditional shareholder model as evil capitalism despoiling society. So now we see corporations such as Disney, Amazon, Coca-Cola, Starbucks and Alphabet (among many) diverting funds from shareholders to causes obsessed by racism, sexism, climate change and a host of other grievance issues.

For many in the middle-class this all seems like a corporate bun fight, a diversion for the Scrooge McDucks of Wall Street and Bay Streets. Even as the Left bleed shareholder value from the RRSPs and IRAs of citizens, deluded citizens cheer on the progressives who are impoverishing them— as if this were an episode of The West Wing instead of The Big Short burning through their savings.

They see hedge fund BlackRock as Robin Hood, redistributing the unseemly wealth of elites to the poor and downtrodden. Little understanding that they are funding this klepto-progressivism. If it wasn’t so sad it might be funny. But the wine moms and the Boy Scout liberals seem clued out on the real agenda.

What’s ironic is that corporate wealth has long resisted the impatient demands of bad actors. It was their resistance in the 1960s that ultimately stopped the revolutionary fervour of the Left from toppling the system. Well, those fanatical forces are back again, but this time they’ve found the keys to the vault.

Here’s how: Liberals and their far-left allies have always been thwarted in their glorious dreams of class revolution by the inconvenience of the electorate. Voters consistently have denied radicals such as AOC or Bernie Sanders the levers of power to activate their pet grievance issues. So they aligned with media and culture industries who portrayed the cruelty of them being denied ultimate power. Class warfare became a Hollywood staple— even as Tinseltown became a blank cheque for radicals.

In Canada and the U.S. the social-credit gambit also meant working the game through sympathetic Supreme Courts who’ve sought to make whole what the citizens want no part of. But the transformation of SCOTUS under Donald Trump scuttled this game. Suddenly the door to legitimizing unlimited abortion, admission quotas, election changes and student-loan forgiveness was slammed shut.

What to do? The solution for the politicians on the Left was to employ large money fund managers such as BlackRock, Vanguard and others to do what the electorate refuses to allow them. Going around the democratic process, these companies created social-credit scores such as ESG and DEI, ranking corporations on their wokeness. The rankings are used to judge their response on every progressive grievance aired by NPR, MSNBC, the Washington Post, CBC and the Toronto Star.

A bad social-credit score from Larry Fink at BlackRock has become a death sentence for executives or boards who balked. Employing their trillions in investments to buy up shares, the hedge funds then used shareholder meetings to whip boards and CEOs into line on the proper mix of social-media expenditures and political propriety. Next thing we saw CEOs saying that maybe shareholder value wasn’t the prime purpose of corporations.

Thus, Disney Corporation, once a bedrock of capitalist certainty under its founder and his family, transformed into trashing its history and brands to satisfy far-left agitators. See: the current iteration of Snow White in which the heroine is brown, the dwarfs look like car jackers and the prince is a ponce.

There is hope that some of these middle-class people have awoken from their coma and are using the market to slow this trend. Anheuser Busch’s disastrous foray into trans politics, celebrating a flamboyant influencer on 365 days as a trans woman, collapsed the mighty Bud Light brand and sunk the stock price. Target, too, blundered in its cloying response to pressure for progressives. Its brand and share price are in free-fall.

Meanwhile, Disney has admitted that tangling with Florida governor Ron DeSantis over Disneyworld was a losing proposition. It has replaced its CEO and fired a number of Woke executives responsible for Snow White. This may also have produced an unintentional outcome. Comedian Dave Chappelle’s prediction last November that Donald Trump was far from dead is suddenly looking prescient, as #orangemanbad leads the GOP polling by 30 points.

For now, however, the middle class snoozes along, content in its self-image as a caring, enabling society. While the investment managers drain their savings to fund windmills in the sky. Politicians are silent, reluctant to challenge the giant. And the media divert attention to shiny objects like Clarence Thomas’ friends. It’s go along to get along. And say bye to your savings.

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Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster  A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, he’s a regular contributor to Sirius XM Canada Talks Ch. 167. Inexact Science: The Six Most Compelling Draft Years In NHL History, his new book with his son Evan, was voted the seventh-best professional hockey book of all time by bookauthority.org . His 2004 book Money Players was voted sixth best on the same list, and is available via http://brucedowbigginbooks.ca/book-personalaccount.aspx

 

BRUCE DOWBIGGIN Award-winning Author and Broadcaster Bruce Dowbiggin's career is unmatched in Canada for its diversity and breadth of experience . He is currently the editor and publisher of Not The Public Broadcaster website and is also a contributor to SiriusXM Canada Talks. His new book Cap In Hand was released in the fall of 2018. Bruce's career has included successful stints in television, radio and print. A two-time winner of the Gemini Award as Canada's top television sports broadcaster for his work with CBC-TV, Mr. Dowbiggin is also the best-selling author of "Money Players" (finalist for the 2004 National Business Book Award) and two new books-- Ice Storm: The Rise and Fall of the Greatest Vancouver Canucks Team Ever for Greystone Press and Grant Fuhr: Portrait of a Champion for Random House. His ground-breaking investigations into the life and times of Alan Eagleson led to his selection as the winner of the Gemini for Canada's top sportscaster in 1993 and again in 1996. This work earned him the reputation as one of Canada's top investigative journalists in any field. He was a featured columnist for the Calgary Herald (1998-2009) and the Globe & Mail (2009-2013) where his incisive style and wit on sports media and business won him many readers.

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Bruce Dowbiggin

It Gets Late Early These Days: Time To Bounce Biden & Trudeau?

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“Take out the papers and the trash, or you don’t get no spending cash.”

Whether you’re in the stock market or real estate the question of when to sell is paramount. When to dump a tanking investment or sell a house in a bad market is an art form. Hence the expression, Timing is everything.

For the incumbent governments in Canada and the U.S. the time has come to make that risky decision of when to fish or when to cut bait with their respective leaders.

In Canada the federal Liberals, still shacked up with the NDP in a common-law embrace, have been doing denial for an extended period since they used the Covid-19 lockdown to sneak out a minority government in 2021. As soon as voters awoke to the lockdown hoax they’d lived through— courtesy of Justin Trudeau— they began to abandon him as a marketable product.

With five years to procrastinate, however, they indulged their radical agenda of climate and culture rather than address how they might be re-elected with Trudeau and his Quebec-dominated cabinet. They blew black holes in Canada’s debt load. There was a PR strategy to label Pierre Poilievre as a mini-Trump. And to buy up the floundering legacy media sources before there 2025 vote.

But for the most part the Liberals still saw Happy Ways where the mainstream saw an intellectual lightweight tilting at every Woke windmill. Since 2021 the polls have shown a steady erosion to the point where they see a Conservative majority— maybe even super-majority— if an election were called today.

Now all governments get tired over time. The biggest complaint about Stephen Harper from the talking classes in 2015 was the sense of fatigue he projected to Canadians who want their PM to be a rock star. But the collapse in Trudeau’s support has come via other very serious underpinnings from corruption (Lavalin, ME Charity, Chinese influence) to entitlement (the Carbon Tax, deficit).

However you see these issues they have led to the point where Liberals, more than half of whom will lose in the next election, must decide if they want to go to Davy Jones locker on the HMCS Skippy. Many of them will qualify for federal pensions if they hold on to the bitter end with Trudeau in October of next year. So he has that assurance of support. But if he is punted by the party he resurrected in 2010, who will succeed him? The taint of Trudeau on his most loyal sycophants will disqualify anyone in cabinet from being taken seriously for the top job.

Outside the immediate junta, names like Mark Carney— former Bank of Canada head— and deposed justice minister Jody Wilson Raybould have been put forward. The problem for anyone aspiring to replace Trudeau is they will have to face his fanatical loyalists in the PMO who’ve slapped down any pretenders so far.

The most recent forlorn hope for Trudeau was that the Federal Budget might calm the waters. Running up the deficit to perilous numbers with a menu of profligate policies to slake the restless NDP was going to force Poilievre on the defensive. So were limp attacks such as this from Trudeau cabinet pal Marc Miller.

For a brief fortnight the polling seemed to stabilize. But now more recent polls show that Trudeau’s popularity bottom was not a bottom at all, just a transfer station en route to the Marianas Trench of politics. Leaving the question of who and when as the only measurables in the equation. How much runway does he deserves and how much his successor gets are the operative problems when Liberals spend the summer in their ridings.

Meanwhile Joe Biden’s faint hope of putting his opponent in jail before the November election has done nothing to move his polling. If anything the prosecution of Donald Trump as he runs against Biden in 2024 is seen as a distinctly underhanded tactic by many outside the MSNBC mouth breathers.

While polls are a mugs’ game, the news that Biden trails Trump in all seven of the swing states he needs to be re-elected has sent shock through Team Obama, which runs the Democratic Party at the moment. There are a lot of sinecures and cushy salaries at risk here. The addition of Robert Kennedy Jr. to the presidential ballot in key states like California is further diluting the DEMs base. While RFK Jr. draws from both parties it’s expected he’ll hurt Biden most.

As if that wasn’t enough the recent pro-Palestine occupations by students and paid agitators is seen as a referendum on Biden’s support for Israel among the fanatical left-wing base of the DEMs. And polls indicate the effect has been disastrous.

Unlike the Liberals who have time to effect a palace coup, the DEMs are up against the clock with their convention coming in July. While he still plays to the Hollywood and Wall Street donors, the general public sees Biden getting more decrepit by the day. His persona as a pleasantly dazed crossing guard has worn thin.

While replacement scenarios have dogged Biden since his election (saved only by the utter dislike for his VP Kamala Harris) the party pros are talking about one last pierce of theatre: letting Biden take the nomination in July, replace Harris with a star candidate like Michelle Obama or Tom Hanks and have Biden then take a knee for health reasons.

Let the untainted replacement take on Trump, who produces a puke-in-your-mouth reaction with half the American electorate. A squishy Obama/ Bill Clinton replacement could rout Trump in a debate and bring single white women and blacks/ latinos back home to the DEMs. Seems like a longshot?

This is the party that orchestrated at least four separate legal assaults on Trump, coincidentally in the year of the election. Don’t under-estimate their chicanery. And while they  didn’t pay off the media as Trudeau has done, they don’t need to. They get the love for free.

Give them credit if they do, because doing nothing is a ticket to four years of The Don.

Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster  A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, he’s a regular contributor to Sirius XM Canada Talks Ch. 167. Now for pre-order, new from the team of Evan & Bruce Dowbiggin . Deal With It: The Trades That Stunned The NHL & Changed Hockey. From Espo to Boston in 1967 to Gretz in L.A. in 1988 to Patrick Roy leaving Montreal in 1995, the stories behind the story. Launching in paperback and Kindle on #Amazon this week. Destined to be a hockey best seller. https://www.amazon.ca/Deal-Trades-Stunned-Changed-Hockey-ebook/dp/B0D236NB35/

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Bruce Dowbiggin

In Toronto The Leafs Always Fall In Spring: 2024 Edition

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Who knew when we tuned in Saturday night to Hockey Night In Canada that we would be witnessing playoff history. Nay, not just playoff history but hockey history. According to what we saw and heard on HNIC just ONE TEAM played on Saturday. And they lost. It goes without saying that the team was HNIC’s beloved Toronto Maple Leafs.

Those of us who’d stuck with the telecast all evening could’ve sworn there was another team on the ice in black and gold. Rumour has it they were the Boston Bruins, but don’t quote us on that. Also, take it as a rumour that Boston’s 3-1 win gave them a 3-1 lead in games over Toronto heading back to Boston for what most expect will be the  coup de grace for the blue and white. Again.

But when time came to discuss the game afterward the Toronto-based panel told us that the Leafs had beaten themselves. Yes, in some hockey version of metaphysics Toronto had transcended the third dimension. The Bruins were like The Fugitive, lurking far out of sight. Brad Marchand had had nothing to do with breaking up Toronto’s neutral-zone speed nor Charlie McAvoy clearing the front of their net. Jeremy Swayman, who he?

Instead the talking heads dissected the loss in shades of blue.

For those who were washing their hair or another vital task on Saturday, the Leafs had more story lines than a season of Curb Your Enthusiasm (insert your joke here), They finally got their migraine-afflicted star William Nylander back in the fold before a delirious Scotiabank crowd who’d probably paid about a $1000 a ticket to attend. But their star sniper Auston Matthews (allegedly) had food poisoning or a gall stone or a tee time next week back home in Scottsdale. Hard to say.

There was also a goaltending controversy, a Mitch Marner controversy and a Keith Pelley controversy (more on MLSE’s new CEO in a moment). And the, you know, 1967 thing. Despite the hysteria of their long-suffering fans at puck drop, postgame analysts hinted the Leafs seemed to be disinterested. Or, to those who actually watched the game, they were schooled by a better Boston team.

By the middle of the second period, despond and a 3-0 deficit had settled on the Leafs. Despite being the ONLY TEAM on the ice their well-compensated stars were bitching at each other on the bench. While Matthews looked glumly at his pals, Marner had a hissy fit throwing his gloves to the floor. Nylander lip-synched a rebuke to Marner along the lines of Grow up, this ain’t junior hockey. Did we say the crowd booed them off the ice after the second period? Yeah, that too.

Which led mild-mannered Kelly Hrudey to scold Marner for a bush-league behaviour in the break. Remember, Hrudey’s the nice guy on the HNIC panel. Where others see an alligator chomping on their leg Kelly sees a chance to get up-close with nature. So the rebuke for Marner was incendiary. By the time they dropped the pick for the third period you’d have thought Bob Cole wasn’t the only person to pass away this week. Gloom.

Making matters worse, Matthews was nowhere to be found. (According coach Keefe, the doctors had pulled him from the game. Whatever.) When the contest ended with a Toronto loss, the postgame chatter was once more obsessed with Toronto’s failings, as if another team were not having its way on the ice. Where was the effort? Where was the intensity promised when Leafs management spread dollars like Easter candy among its Core Four?

Kevin Bieksa, typically the most salty one on the panel, reminded everyone there was a Game 5 Monday and that 3-1 leads have been overcome. But with Toronto’s success in comebacks being nil he sounded like a guy trying to sell you a penny mining stock.

The dressing-room afterward was mint. “You know what, that’s just the way we are,” Nylander said. “I mean we expect a lot from each other, and we love each other.”

“I don’t think there’s any (frustration),” Marner added unconvincingly. “We’re grown men. We were talking about plays out there that we just want to make sure we’re all 100 percent on and know what we’re doing… We’re not yelling at each other because we hate each other.”

Chris Johnston of The Athletic called it the end of the Maple Leafs as we know them. “They’re making more mistakes at five-on-five, they’re soundly losing the special-teams battle, and they’ve transformed from being one of the NHL’s best offensive teams in the regular season to one that can’t score more than two goals per night in the playoffs. Wash, rinse, repeat.”

Coach Sheldon Keefe, whose shelf life has about 60 minutes left, was enigmatic in the face of cruel destiny. “You can question a lot of things; you can’t question the effort,” he said.

He’s right about one thing. When this first-round ends in ignominy there will be plenty of questions from Pelley, newly installed at the top of the MLSE pyramid. Such as, why should I keep this management team that teases Waygu beef in-season but delivers ground chuck in the playoffs? It’s long been said that the league the Leafs have been built for doesn’t exist in the postseason. So why keep pretending it does?

For those not in the know, Pelley has spent the last few years dealing with the Saudi’s LIV golf enterprise in his role as CEO of what used to be known as the European Tour. (Insert your barbarism reference) So he’s used to dealing with nasty situations.

Maybe his first act on the Leafs file is reminding everyone that two teams play each other in the playoffs, and it might be a good idea to learn from what the winners are doing.

Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster  A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, he’s a regular contributor to Sirius XM Canada Talks Ch. 167. Now for pre-order, new from the team of Evan & Bruce Dowbiggin . Deal With It: The Trades That Stunned The NHL & Changed Hockey. From Espo to Boston in 1967 to Gretz in L.A. in 1988 to Patrick Roy leaving Montreal in 1995, the stories behind the story. Launching in paperback and Kindle on #Amazon this week. Destined to be a hockey best seller. https://www.amazon.ca/Deal-Trades-Stunned-Changed-Hockey-ebook/dp/B0D236NB35/

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