Monday, October 6, 2008

Economic Fundamentals

What a Monday morning: it's full of good news all around. Scotiabank is predicting a recession for our economy and so is UBS. This, of course, should come as a surprise to none considering what's happend to the US and Europe.

But all of last week, we heard Harper say everything's ok. I hate to quote Jack Layton, but I'm afraid he was bang on when he said to Harper, "Either you don’t care or you’re incompetent, which is it?"

Of course the economy in Canada is better regulated than the US so we won't implode like they will, but I beg to differ Mr. Harper -- everything is not ok.

The saddening part of all this is Harper's approach. Of course government can't fix the economy, but government and business are always and will forever be linked. The role of government in these situations is to alleviate shocks that will be felt mostly by middle income taxpayers. To do that there are things like EI and other employment programs from the worker level, but there also needs to be some kind of assistance on the corporate level. Harper doesn't show this kind of understanding, and this is why he's shown to be unfit to help the economy. Regardless of what whichever stripe of government does, we're in a downturn, but choosing Conservative is seems will make average Canadians a little more blue (unzing?).

Anyway, enough with the partisan jabbing.. you can find some interesting reading and podcasts vis a vis the current economic climate here sent to me by an unnamed source (see i'm pretending to be Jane Taber with all these unnamed sources...)


dennisn said...

Mr. m5. I am clearly not getting through to you AT ALL. We do not have a simple disagreement about what our ideas of a government's duties are; we cannot simply agree to disagree.

Why? Because whereas my view doesn't force anything on you, your views DO! You are perfectly free to promote whatever insurance plans you want, but you have absolutely no right to enforce them on EVERYONE.

What is going on, and probably has been going on forever, is legalized crime. It is absolutely unconstitutional, but since the majority wills it, since the majority (including you apparently) is complicit in it, you look the other way. There is no way you can deny it's wrong. There /is/ something you can do about it. (Vote Conservative this election. Libertarian the next.)

ALW said...

Am I missing something here? What precisely is the Liberal plan?

m5slib said...

income tax cuts, speeding up infrastructure investments to create jobs (in construction etc), injecting money to save/create jobs in the central canada manufacturing centre like the premiers of on/qc asked, as well as meeting with the bank of canada/such orgs within the first 30 days to make sure the right provisions are in place to protect the economy...

dennisn said...

In other words, more government instrusion in "the market".

It was government intrusion that created this mess in the first place (Clinton et al's government monopoly in mortgage loans (FRD/FNM)), and you communists still haven't learned your lesson :|.

dennisn said...

And, it's REALLY misleading when the Reds use the words "tax cuts". Firstly, they are only cuts to /some/ people, and these cuts will only be received once a year, AFTER people have already been forced/taxed to pay more for pretty much everything. I really doubt that the tax deductions will cover all the imposed cost increases. I would also feel REALLY dirty and bad knowing that other people are being forced to subsidize my tax break. It's a dirty evil scheme.