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TheStreet Open House

The 'New Normal': Don't Blame Us, It's All Your Fault

VANCOUVER, Canada ( Bullions Bull Canada) -- In our Orwellian, 21st century world, euphemisms abound. Some are merely inane. Some are slippery and deceptive. Some are plainly malicious.

The abominable euphemism "the New Normal" satisfies all of those descriptions.

This time it's different. Utter that expression in a sarcastic tone in any corporate boardroom and one will likely elicit a chorus of sympathetic laughter. State it seriously and one will be the subject of scorn and derision.

What is the inevitable response of seasoned executives when some boardroom novice attempts to peddle the line "This time it's different"? The more things change, the more they remain the same. Context changes. Principles are immutable.

Yet, what is the literal translation of the New Normal? This time it's different. The euphemism constructed by the corporate media and parroted by every politician, banker and media talking head as the Ultimate Wisdom of the 21st century is, in fact, a tired and pathetic cliche discarded by the same corporate world decades ago. It can't get any more inane than that.

Obviously, when the corporate media takes an old and ridiculed cliche, re-packages it and peddles it as Ultimate Wisdom the question must be asked: What is the agenda here?

Fortunately, the media are transparent. We can determine the agenda behind this media lie simply by examining the various contexts in which it is used.

Massive, permanent unemployment? It's the New Normal. Endless crime and corruption perpetrated by our largest financial institutions? It's the New Normal. Gigantic-and-growing government debts? It's the New Normal.

In the 1980s when Canada's debt-to-GDP ratio soared above 70%, it was deemed to be having a "debt crisis." Today, with Canada's debt-to-GDP ratio over 80% it's the poster child for "fiscal prudence" in the West. How can this be? It's the New Normal, silly!

The New Normal is a mantra of failure. Our governments first created massive unemployment and then have done nothing about it since. But it's not their fault.

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