Friday, October 10, 2008

Whatever Happened to "The Economy Is Strong?"

So Flaherty's opening bet is $25-billion to buy "insured mortgage pools" in order to keep Canada's credit pipes from gumming up.

But, it's not a bank bailout. No it isn't. No really, you need to understand that the fundamentals of the Canadian economy are strong. That's straight from our Fuhrious Leader.

Let's just do a little math. Yesterday we were told that the Afghanistan mission bill will come in at $18-billion (excluding buried costs) which means about $1,500 per household. That would put the bank bailout at about $2,000 per household. Now if you're watching your retirement investments melting at the same time, those figures look even larger, more dismal.

But what happens if the bailout turns out to be as ineffective at unclogging the credit drains as the American bailout? Are we going to be throwing more of the Canadian taxpayers' money into this and, if so, how much more, Mr. Flaherty?

And what have you got in mind for when the Canadian public - not the banks, the working people - take the trade hit that's coming our way out of the south? Have you got a cash cushion tucked away for them or is it just the banks who'll get bailed out?

Now I know you don't want to talk about this, not with an election just days away. Too bad because we certainly deserve a little openness, a little transparency, a good dollop of accountability from this government right now.

5 comments:

Anonymous said...

Canada created 107,000 NEW jobs last month and that included over 19,000 jobs in the manufacturing sector.

Yep, the economy is going to hell in a hand basket.

Please Mr. Dion, tell us about your great plan to save us from this hell hole.

I'm sorry, let me rephrase the question. What are your plans to help us?

OK . . . ONE LAST TIME . . . What are you going to do about our "tanking" economy????

Oh . . hold a meeting?

BRILLIANT . . . JUST BRILLIANT!!!

Oxford County Liberals said...

Uh, check your StatsCan facts. 97 000 of those jobs were PART-TIME... hardly an indicator of how great the economy is doing.

Oxford County Liberals said...

Check out the The Progressive Economic Forum to see how this report is nowhere as near as rosy as the Cons. supporters are trying to make it out to be.

The Mound of Sound said...

Thanks Scott. I think PK probably has a prairie idea of what's happening to the manufacturing sector in canada. The guy has had a blog since April, 2006 and is still waiting for the right issue to post something. But good points, thanks. And, PK, if you want to ask questions of Mr. Dion, don't pose them to me because I really have no means of passing them on.

Anonymous said...

Michael Kane on CTV this morning.

"We've been so used to seeing the manufacturing jobs disappear and there in one month almost 20,000 manufacturing jobs created. That is an extremely encouraging sign and with the Canadian dollar slipping the way it has been below 89 cents; this is good news," Kane said.

These jobs weren't created with holding meetings. They were created with a clear direction, not by a bumbling mumbling wannabe leader like Dion.