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Whltby Free Press, Wocknesday, March 8, 1995, Page 7 .. *. ... .**.............. w~w ........ . .......... ...*.*. . . .*. . . .. .. . .....-..-.. ..... . .. . .. . .. .. . .. ..... . .. .. ... ...w. . ... ..... .. . i(jh OurZ successionWI Thank you. Given the lack of civility i the modem world, one doesn't always expeet to be greeted with politeness. However, the remarks I feel compelled (note the stress on the word compelled, so that if one were given ýte underlining words, that would be one) . .. where was I?. . . oh, right, feeling compelled te write about Paul Martin, the federal budget and the money markets. Hang in there. You've read, or seen on televIsion, ail that wonderful analysis about the budget. About how Paul had no choice:- that like a laimb at bay, he had te run from the snarly wolves of the money markets. Had he not sought refuge in the shelter of budget slashing, why the wolves would have cornered him, savaging bis fluffy white fur i the fray. ___________________________ Ghastly picture, that. Along with that, one hears the shibboleths: how the. market has no morals, no heart, no soul. The market bears only interest. Money goes where it is appreciated. Moneuy bas this, what is it you say? .savvy about where it will go, wbat bonds it floats, wbat countries it cuzzles up te. Why, money has- a genius ail itsown! The money, the A market, the purity of it ail. It is, we have been teld, the money market making us face the reality of our sinful ways. It is a world which bas declared God dead, thenla points te our new divinity: In Money We Trust. Which would ail be a fine littie fantasy. If it were true. If the people wbo dreamed it Up actually bolieved it. Let' have a look at where we're goig. Remembor the Baring's incident? How a bright young up and comer, Nick Làeeson, 28-year-old money trader, bringa down a staid British bank witb losses i the billions. You heard right. Billions. Not M', as in millions, but'B' as billions. A freak happening? Good grief no! We heard yards and yards of stories which boasted about the macho world of the money t-orars. How they'd ot nonanything for the t1hrill of the Picture this: after Paul Martin sweats blood (yours and mine, not his), preparmng a rigorous budget, hundreds, 35 YEARS AGO thousands of Nick Leesons bot billions on how other from the Thursda-y March 3, 1960 edition of the thousande, hundredei of Nick Leesons will bot billions on WBf"Ir WEEKLY NEWS Canada. For the edge of a tenth of cent overnight. In 9 Mayor Stan Martin says Whitby will flot form part of a Metro government unless the quick, ak you ~ andtown has full autonomy.wie quick, out qik ae yu profits and in. 0 VWhitby Arena will close for a week hl roof repairs are made. Then, . . .oops, sorry, thirty six hours later the bottem 0Witby Pblic Sehool Board has a deficit of $13Y500. starts te fail out of the American dollar. After ail that, 0 Helen Marshall, wife of Bey. David Marshall of St. Andrew's Presbyterian Church, Paul Martin's budget didn't matter a doubleloonie. died on Feb. 25. Madness sweeps it down another hall cent, cent, maybe more just because ites similar te, the American dollar. And if li their madness they take a country te the edge 80> yBA AGO of bankruptcy? Ah, not te worry. Established banks, the from the Thursday, March 3 1915 edition of the G7, the world economy, cant let any country default. wH[B GAZETTE AM)b CHRONICLE Everything is propped up once again like a cardboard (tlus issue is missing) cutout. What's a few billion? _____________________________ If's a bingo hall world, girls and boys. ________________________________ 1