No doubt the rich and powerful have been cracking up with laughter for decades over their ability to peddle "trickle-down economics" to a trusting public.
But a surprisingly strong report just released by the prestigious Organization for Economic Co-operation and Development (OECD) may cause the public to regard these wealthy snakeoil salesmen more skeptically in the future.
Essentially, the OECD report reveals the immensity of the trickle-down scam, which the report shows has not only failed to foster economic growth as promised, but has proved to be an overall killer of economic growth.
Luck plays a part in any political career. Napoleon famously asked of a general recommended to him for his military prowess: "so he is good -- but is he lucky?"
A barrel of oil that was selling in the US$110 range last summer, now sells for less than US$70. That was not the future Stephen Harper and his ruling Conservatives expected when the party leader touted Canada as an energy superpower, based on massive petroleum reserves -- the world's third largest after Saudi Arabia and Venezuela -- locked away in the bitumen sands of Alberta.
But there is good news for the Conservatives in the bad news.
Lower gasoline and heating oil prices will put money into the pockets of strapped Canadian workers, helping to drive up consumption and employment.