Bruce Dowbiggin
How Retirement Money Now Funds The Radical Movement
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.
Sign up today for Not The Public Broadcaster newsletters. Hot takes/ cool slants on sports and current affairs. Have the latest columns delivered to your mail box. Tell your friends to join, too. Always provocative, always independent. https://share.hsforms.com/16edbhhC3TTKg6jAaRyP7rActsj5
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
How The NFL Grinch Bought Xmas: Drowning In A Sea of Football
After rummaging about for two months to no great effect the NHL has now embarked in its traditional Xmas break. Under the NHL’s collective agreement, no one plays any games from Dec. 24-27. This comes after a roster freeze that forbids trading a player during said holiday season. The annual World Junior champions, too, doesn’t crank it up till Boxing Day.
It’s a throwback to a more tranquil time when most of the Western world went home to eat too much and fall asleep on the sofa for three days. Then go shopping. So props to Gary Bettman’s NHL for keeping to their family stance. In such frenetic times there’s something to be said for pausing to sniff the frozen roses.
But catching your breath in the sports world is now an anachronism, driven by the massive dollars paid by networks and digital providers to sports leagues. In a time when the NFL rakes in $105 B ($2.1 billion a year) from its broadcast partners while the 32 teams collect a tidy $300 million each it’s no wonder the equity in NFL franchises has soared of late.
And that means using every minute of the calendar to schedule games— especially on days like Christmas when hundreds of millions are sitting at home after opening the prezzies, itching for something to watch besides It’s A Wonderful Life. So the Xmas break this year features two games on the day and another on Boxing Day. Followed by a full weekend of games on Saturday, Sunday and Monday.
In doing so it big foots the NCAA CFS’s new 12-team playoff and bowl-game format which also uses every day but Sunday this time of year. On the past Saturday FS games were given a head start before the NFL stole eyeballs with its own games an hour later. Tough luck college boys. It’s unlikely to change as the CFS is eager to expand the playoffs in the future.
The NFL is not the first to exploit this previously virgin calendar break, of course. Th NBA broached the prohibition against Xmas Day in 1947, first placing a single high-profile game that day. Later it expanded to an all-day menu of games. Anything sacred about the family day went bye-bye as folks either went to the TV or the kitchen for the rest of the day.
The reason that pro sports is creating also many windows for their product is the sudden arrival of so many new outlets for games. Where legacy TV/ cable networks had exclusive dibs on buying rights for decades, cable cutting has now exploded the bidders. As GTM expert Rhys Dowbiggin told us in our July 29, 2024 column the model was UFC. Yup. UFC. “ESPN+ (Disney) has been working directly with the UFC for a number of year and packaging their events on the streamer.
And let’s not ignore the monkey in the room: YouTube, which dominates all the streamers for eyeballs – YouTube (Google) has more live sports than any of the other streamers. Just for context, there is a massive amount of money in these deals: the recent NBA media rights deal is going to be 70B+ – split across a number of media partners. All the streamers took a similar GTM strategy – and they’ve led us back to 2001.”
Disgruntled consumers dumping cable/ satellite carriers sought other outlets for their spots viewing for NFL, NBA, NHL and NCAA. Leagues responded so we now have special placement games for YouTube, Amazon Prime, Apple, Disney and Google. And the Xmas season cornucopia of games. Watching whatever you wanted. The strategy was to compete on bidding for original content to bring in the subscribers.
Then a funny thing happened. It was now only some of what you wanted. The expansion of carriers pissed off viewers just as much as the arbitrary cable companies. the magic solution of cable cutting is now the tragic solution. Explains Dowbiggin, “The original product fit for streaming was the promise of all the content you could need was in a single place, on-demand. You only needed Netflix (in a sense) and you never had to wait or choose what to watch. Once the market fragmented into multiple players, the fit evaporated. Half the problem that was solved by streaming was now gone:
Watching whatever you wanted. It was now only some of what you wanted. The streamers GTM strategy was to compete on original content to bring in the subscribers. But creating content and not consolidating content exasperated the issue.”
The latest strategy is to bundle services across outlets to give consumers easier packaging. Says Dowbiggin, “Will bundling partnerships change things? It can’t hurt. But unless it drastically shrinks the numbers of players at the top to 2-3, the problem of ‘watching whatever you want’ won’t be solved, because I’ll still need Disney for my Star Wars.
All I know is, I’ve kept my library card for years, because I always saw this coming. And I don’t plan on getting rid of it anytime soon.”
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. His new book Deal With It: The Trades That Stunned The NHL And Changed Hockey is now available on Amazon. Inexact Science: The Six Most Compelling Draft Years In NHL History, his previous book with his son Evan, was voted the seventh-best professional hockey book of all time by bookauthority.org. You can see all his books at brucedowbigginbooks.ca.
Bruce Dowbiggin
Hero Or Villain: How Chrystia Freeland Wears Both Masks
“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.”
This Ernest Hemingway gem from The Sun Also Rises has gotten a workout in this time of progressive economic policy. But it’s worth repeating in the case of Justin Trudeau’s Canada where the F word is fiscal. The “gradually” part of Liberal fiscal policy has now passed. Leaving the “suddenly” of $60 B deficits with no plan for recovery
You’d think that missing your deficit estimate by $40B might have cost the finance minister Chrystia Freeland her job. But no! In Trudeaupia it was the failure of Freeland to embrace even more wack-a-doodle spending plans by the prime minister and his brain trust of former groomsmen and climate acolytes. Yes, the cratering of finances is the ideal time to award a GST holiday and $250 cheques to much of the nation. It has been noticed.
You know how Canadians are always bitter that America pays no attention to Canada? (Doug Ford appeared Tuesday on @CNN which identified him as Premier of “Ontaria”.) Well, the Collapse By The Canal in Ottawa has brought much attention to the nation. Specifically, president-elect Donald Trump, the Shecky Green of presidents, has noticed the chaos. ““The Great State of Canada is stunned as the Finance Minister resigns, or was fired, from her position by Governor Justin Trudeau,” Trump wrote, using his barb that Trudeau is not a PM but a lowly governor.
Adding for good measure, that Freeland’s “behavior was totally toxic, and not at all conducive to making deals which are good for the very unhappy citizens of Canada… She will not be missed!!!” Three exclamation points if you get that far.
Certainly no-one with a memory longer than two weeks will miss the deputy PM who gleefully wiped out the personal finances and freedoms of the Freedom Convoy truckers. Or the cabinet minister who promoted a standing O in the Commons for a former Nazi soldier. Or the senior government official who demanded legal restrictions against voters shouting at her in public.
Or the feminist who stood aside while her boss Trudeau expelled an indigenous female finance minister for allowing the RCMP to investigate PMJT’s nefarious activities on behalf of his donors. Or who… never mind. Just look up Blackface.
No, the current version of Freeland is the plucky woman who was fired on a Zoom call by a man. A woman of integrity who then sent off a stinging letter of resignation in which she revealed she was being pushed aside for a Trudeau buddy Mark Carney. A fiscal warrior who resisted going $60B in the red (she was cool at $40B, however). And, BTW, could she please deliver the government’s financial statement before she’s fired?
See how it works? She’s now a victim. “She didn’t just quit. She said ‘f**k you’ to Trudeau on the way out.” This is another case of somethingvblogger Melissa Chen calls Schrödinger’s Feminist, defined as a woman who is simultaneously a victim and empowered. Until something happens and she collapses into one of either states, whichever is politically expedient for her circumstance.
Chen expands on the notion. “A major component of the angst that characterizes much of the modern dynamics between men and women today comes down to the fact that women have demanded equal rights but also wish for preferred treatment.” A week’s viewing of The View will serve to illustrate this concept.
One of The View’s textbook cases of Schrödinger’s Feminist was Kamala Harris. The treatment of the defeated Democratic Party presidential candidate was guard-railed between her brave quest to become America’s first menstruating president and, on the other side, her victim status as a woman, the unfair way she was treated. It was enough to make Joy Behar’s head spin.
Forget that everyone in the mainstream media from pollsters to networks to Hollywood stars was all-in on Kamala as a “joyful “warrior. Even though they knew she was losing they cooked the polls the whole way for her. She was a victim, the kind Hillary Clinton meant when she said all women should be believed if they’re trying to destroy Justice Kavanaugh. Or, like serial fabulist E. Jean Carroll, waiting 30 years to bankrupt Trump and disqualify him from the presidential race, with a Law & Order script. How could a woman ever invent a story about getting trapped in a change room at Bergdorf Goodman with Trump?
Oh, Kamala played the brave front as she blundered to her record defeat. (Still called “a perfect campaign” by her apologists.) But underpinning it all was her status as a woman, a woman for whom her followers on The View demanded a double standard. In the end, only the Schrödinger feminists in the Dems coalition stayed loyal to Harris, (Kamala Harris Did A Good Job!) explaining away her failure to tell the world that Joe Biden was koo-koo for Coco Puffs as her innate decency.
And so Freeland, too, is being gifted with Schrödinger’s Feminism. Having Justin Trudeau, the Trust Fund twit, as your antagonist sure helps. So does the Woke media corps now in Ottawa painting sympathetic portraits of your sacrifice. Your dubious resumé since donning Liberal colours is forgotten. You will receive the get out of jail free card .
Hell, even the leader of the opposition will give you a tongue bath. “Instead of taking responsibility, the prime minister told her that she should take all the blame,” Pierre Poilievre said. “The good old boys in the back room would protect themselves and make the then-finance minister take all the blame.” Trudeau, who rejects bankers in favour of poets, will take the fall.
Which summons up this nugget from F. Scott Fitzgerald. “Life is a comedy for those who think and a tragedy for those who feel. Show me a hero and I will write you a tragedy.”
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, his new book Deal With It: The Trades That Stunned The NHL And Changed hockey is now available on Amazon. Inexact Science: The Six Most Compelling Draft Years In NHL History, his previous 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 brucedowbigginbooks.ca.
-
armed forces2 days ago
Canadian military deployed ‘gender advisors’ to Ukraine, Haiti at taxpayers’ expense
-
Health2 days ago
Dr. Malone: Bird flu ‘emergency’ in California is a case of psychological bioterrorism
-
Business2 days ago
Rand Paul Releases Report Detailing $1,000,000,000,000 In Gov’t Waste. Here Are The Worst Offenders
-
Business2 hours ago
Global Affairs Canada Foreign Aid: An Update
-
Alberta3 hours ago
Alberta’s Massive Carbon Capture and Storage Network clearing hurdles: Pathways Alliance
-
Business3 hours ago
Canadian health care continues to perform poorly compared to other countries
-
espionage2 hours ago
Chinese spies arrested in California