Time to pay attention. The Canadian dollar fell by more than 2 cents in a single day – the worst drop since the 1950s. The Toronto stock market crashed more than 400 points. Oil dropped five bucks a barrel. Gold prices crumbled by sixty dollars an ounce. The whiff of burning confidence thickened the air.
This came just one day after the US central bank dropped interest rates by a whopping three-quarters of a point. It came three days after Wall Street investment bank Bear Stearns was sold for pennies on the dollar. It came amid new global fears that the real estate-induced American recession will infect, well, everywhere.
And it all came a mere hundred days after the Canadian finance minister told us our economy was solid as the Canadian shield.
Actually that same guy was making new headlines this week by forecasting that Ontario, the engine of Canada’s economic growth, would be “a have-not” province soon. Just the kind of thing you want the world to know when billions in worried money is looking for stable, safe havens.
As fortune would have it, I spent a large hunk of my day talking to media people, in Toronto, Ottawa, Vancouver and Victoria, who are interested now in knowing what all this mans to Canadians who own houses. Will the American real estate contagion come here? When? How much? How long? How bad?
Toronto stock exchange, last 30 days.
I watched TD economist Don Drummond on television as I waited for one interview to commence. Just three weeks ago he was giving the feds a thumbs-up, sort of, on the most recent budget. Today he was saying all bets are off. The economy is in trouble and there’s no telling what the endgame will be. Drummond’s bank is set to release a report showing an economic slowdown is now gripping Canada just as severely as the States. The talk of ‘decoupling’ which was all the buzz in money circles six months ago is now utterly discredited. It never existed. The storm has hit.
This week there’s news about people in debt. “Homeowners rush to pay down mortgages,” the item said. A survey of recent buyers found that an unprecedented 84% of them are doing everything they can to accelerate repayment of their home loans. Smart people. But maybe, smart too late.
The clouds now gathering and the winds kicking at the door were scented almost a year ago. Many articles on this blog last summer, for example, detailed events likely to unfold, in the wake of the collapse in the real economy of the United States. Might be worth asking, if it was so clear to me, how could it have escaped the mighty minister of finance?
And let’s ask:
• Why did the government of Canada increase program spending to the highest level in history in the two years preceding an economic slowdown of perhaps mythic dimension?
• Was it so smart to take an historic budget surplus of $14 billion and chew through it all in just 25 months? How prudent was it to ride to the precipice of recession, with nothing in the tank?
• Why did the government cut consumption taxes as its economic centerpiece when we all knew consumer spending would fall, wiping away the benefit?
• Why have family income taxes not fallen a single dime since Stephen Harper become prime minister? How can those families cope now with higher energy and living costs, dimming job opportunities and whatever money is in RRSPs and savings at risk?
• How much sense did it make to destroy the income trust sector, which saw a raft of Canadian companies sold to foreign interests at bargain prices? Why did Jim Flaherty make such a move that decimated his own tax revenues, along with the savings of two million investors?
• Why did the minister of finance boast about our “strong Canadian dollar”, thereby pushing it higher and in the process destroying national competitiveness? Did he know think it through? Did he not know? Not care? Not understand?
Wednesday night, CBC national news carried interviews with experts warning this has all the hallmarks of being 1929 once again. The rapidity of the collapse in multiple financial markets earlier that day, they said, was nothing short of breathtaking.
And so it was. More to come, too. Hopefully it will be short-lived, countered by the joint action by central banks and the wise, steady guidance of political leaders. Sadly, though, the American president stays with a costly war, taking that country into unrepayable debt, even its middle-class families are entombed in their unsaleable, mortgaged houses.
And, sadly for us, Mr. Flaherty stays in office. History will remember him uniquely.
165 comments ↓
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I know your waiting for this to get obviously worse to get the advantage in the poll’s but really, I’d give my eye teeth to have an election today.
The cons and their trolls are destroying Canada. When will the average Canadian wake up and irrevocably see this?
Mr Garth TurnerMP,
I see the snow banks in my neighbourhood
are starting to go. It’s going to be easy soon to put up election signs!
It’s really to bad the economic dark clouds seem to be rolling in.
Not good news for anyone trying to earn a living to pay the bills and feed the kids!
If were exceptionally lucky the worst of the dark clouds will just miss us?
One can hope, but take cover!
Garth, I saw the Drummond interview too and was surprised to see someone who had been a cheerleader for this government, portend what he did.
The one thing that got me though, was his oft repeated supprt of the GST cut.
I know he’s never met a tax cut he didn’t love, but why would he support a cut that fly’s in the face of what he’s telling us is our new reality?
Garth..is there any chance that the Liberals will come out with a new Red Book prior to bringing down the government. Clearly laying out the Liberal policies might move the polls in your direction.
Garth,
I write to you from Alberta–the land of the walking, brain-dead voter. I want to ask: Why is Flaherty bashing Ontario?
I suggest, but I’d like to hear from a live brain or two, it’s premised on the idea that a lie told loud enough and often enough becomes what some people will believe.
Another factor may be Flaherty is whirling the wheel in his squirrel cage so it hums “Tain’t his fault, not him, not Jim.”
And sadly for us, Garth Turner and the LPC continue to make sure that Mr. Flaherty stays in office!
And for that, history will also remember them uniquely!
Not done yet, Philly. — Garth
Trust Tax: Dumb And Dumber
Posted: March 19, 2008, 6:03 PM by Diane Francis
There remains trouble in Toryland over finance minister Jim Flaherty’s non-sensical tax on energy trusts and the income trust debacle cost the party a byelection in B.C. this week.
Its candidate cited income trusts as the major concern in the election. It is an issue that simply will not go away because it should not. Prime Minister Stephen Harper, at Flaherty’s urging, reneged on a firm promise which is good leadership.
The issue is the single biggest reason why the Tories have not, and cannot, get a majority in the polls. Their foolish and flawed flip flop against trusts devastated and alienated their base. Some $35 billion in value disappeared overnight, affecting two million Canadian investors.
Taxing the energy trusts too, when other countries do not, has been a major policy blunder and Albertans are determined to prove how foolish it all has been with an initiative announced last week.
Energy trusts have joined the Liberals who have asked the Auditor General of Canada to investigate Flaherty’s claims that taxing the trusts was necessary to staunch tax leakage.
It was nonsense then and still is.
“$110 a barrel oil prices have camouflaged what is a big mistake in policy,” said Sue Riddell Rose in a phone interview with me last week. She is CEO of Paramount Energy Trust and the Coalition for Energy Trusts spokesperson.
Trusts used everywhere else
Trust structures are used, and recognized, around the world as a more efficient means of managing commodity companies which find planning difficult due to price fluctuations. Flaherty exempted real estate trusts but not energy trusts, a damaging inconsistency.
About 20% of the country’s 33 energy trusts (which pay considerably more taxes than all the foreign-owned oil companies combined) have been swallowed up by foreigners or other entities.
Ottawa’s attack has ruined the junior oil sector too since October 2006 despite soaring oil prices, she said.
“The junior oil sector is no longer vibrant. There is no exit strategy which was to sell oil and gas assets to trusts,” she said. Put another way, if oil prices had remained the same as when Flaherty made his tax announcement on Oct. 31, 2006, the oil patch would be in “dire” straits.
“They did not do their homework. They did not understand the industry and they have deceived the Canadian public,” she said.
Trusts tax really dumb idea
Flaherty’s leakage excuse was debunked in a report by accounting giant Deloitte weeks ago in a study that showed that the reverse has happened: where there was no leakage there is not massive leakage.
The mistake, or omission, made by him and Mark Carney – author of the scheme and rewarded by becoming Governor of the Bank of Canada — was to exclude the massive downstream income trusts flowed to unitholders who paid top taxation rates.
It was amateur hour and the harm has been ongoing and will worsen, Riddell explained.
“In 2006, there was no leakage at all and revenues were enhanced by the trust structure,” she said. “We’ve tried to get breakdowns from government as to the percentage of its cash surpluses that are coming from this but cannot get anywhere.”
She said a rough guess is that Flaherty’s folly has cost governments at least $1 billion in tax revenues, but only the Auditor General, with her special access, can do the analysis needed for taxpayers.
“It’s a big number,” she said. “There are two things we would like them to do: Go through their analysis re the actual, downstream revenue and then to analyze what has been foregone as a result of the changes.”
Why isn’t she and others giving up?
“We continue to believe a proper analysis was not done and that the wrong decision was made to enable the efficient recovery of resources for Canadians,” she said. “I personally feel deceived by them because they misrepresented information to Canadians. Something else is driving these decisions and I think Canadians should know. I don’t.”
I just do not get it.
If everything is as bad as you have stated then why did the Liberals support the Conservatives the past two years.
What are the Liberal solutions for all these problems you stated ?
Anyone can cite a problem but it takes an extra effort to come up with solutions.
When I was actively employed I discouraged individuals willing to present problems and dismissed them until they put some thought into it an came up with solutions.
What I hear on here are people crying out for some solutions to all these problems.
Governments conduct business based upon their own agenda not that of the opposition. I thought this is why we hold elections.
I think it is time to follow an old cliche. That is to Lead, Follow or get the Hell out of the way.
Read it again. Slowly. Cut income taxes, not consumption taxes. Do not destroy the income trust sector with no good reason. Do not increase annual spending by twice the rate of inflation. Heed the obvious economic warning signs and retain surplus. Do not talk up the currency. Be prudent and even…conservative. Do I need to repeat it again for you? — Garth
I like the idea of a new red book.. only calling it anything close to a ‘red book’ will have Harper’s crew jumping up and down foaming at the mouth shouting ‘not a leader not worth the risk’ while pointing out every tiny and not so tiny uncompleted promise in the last one…But for sure a complete and comprehensive listing of the liberals goals would go a long way, especially towards rebutting all the 62 billion in debt BS that they keep blathering on about.
The FACT is that Dim Jim Flaherty and his Boss Hog Deceivin’ Stephen are utter BUFFOONISH MORONS.
Flaherty has the financial depth of a child’s wading pool, while Harper swims in a shallow cesspool as an economic polliwog.
The job of the opposition is to oppose the govt. Harper wants desperately to have an election, Dion is doing his job and denies Harper an election.
Why criticize Mr. Dion for doing his job?
Well Happy Shock and Awe Day!
“Tain’t his fault, not him, not Jim.”
By No fool like an old tory on 03.19.08 10:04 pm
I think you’ve hit the nail right on the head!
Time to pay attention. The Canadian dollar fell by more than 2 cents in a single day – the worst drop since the 1950s. The Toronto stock market crashed more than 400 points. Oil dropped five bucks a barrel. Gold prices crumbled by sixty dollars an ounce. By Garth.
A while back you were complaining that Oil was going up and our dollar was going up. Garth make up your mind. Which is better for Canada? You are beginning to sound like someone who has no idea what he wants or doesn’t want.
Stability, not volatility, is what economic growth is based on. — Garth
Op-Ed Article By Dennis Bruce of HDR | HLB Decision Economics Inc.
Trusts Redux: Tax Policy Suitable for Halloween
October 31, 2007
As an economist I welcome Minister Flaherty’s October 30 announced intention to boost Canadian productivity and prosperity by reducing the general federal corporate income tax rate to 15 per cent by 2012. The measure should be embraced by all: It will position Canada favorably in the global economy for decades to come. But while I laud the strategic direction on corporate taxes, I continue to question the government’s consistency on tax policy in general.
A year ago today the Minister announced in his Tax Fairness Plan his intention to “restore balance and fairness to the federal tax system by creating a level playing field between income trusts and corporations,” to eliminate tax leakage and to remove distortions in investment decisions. To paraphrase the Department of Finance’s analysis, the avoidance of corporate taxes from entities after conversion to an income trust is not totally offset by the taxes paid on income trust distributions from individual unit-holders; therefore tax leakage. The Minister estimated that annual tax leakage was in the order of $500 million and stated that something had to be done “to restore balance and fairness in the tax system”. The Minister’s solution to create “tax fairness” and eliminate tax leakage was to implement a 31.5% Distribution Tax on trusts in 2011 and to not allow any new conversions to the income trust form. The market response to the “Tax Fairness Plan” announcement was very negative.
Having worked for the income trust industry and with the Department of Finance on determining the appropriate methodologies for tax leakage, I presented evidence on the tax leakage issue to the Parliamentary Standing Committee studying the issue. To be precise, I raised several concerns with the Department of Finance approach – all of which went to a “sharp over-statement” of tax leakage. The major flaw in the Department of Finance analysis was that it did not take a lifecycle view of the tax leakage issue but rather focused on a 2006 “test year”. By failing to account for the reality that corporate tax rates were legislated to be reduced to 19 percent by 2011, the Department took a short-sighted and punitive approach to the issue. Despite the debate and a dissenting Committee Report “Taxing Income Trusts: Reconcilable or Irreconcilable Differences”, the income trust provisions of the Tax Fairness Plan remain in place.
It is regrettable that the October 30 announcement did not occur a year ago. It would have all but eliminated the perceived tax leakage issue without the punitive distribution tax on income trusts. In fact, the Department of Finance’s own Tax Leakage Model would have given an estimate of merely $80 million in tax leakage when accounting for yesterday’s corporate tax cuts instead of the $500 million stated by the Minister at the time. The Department’s own analysis would not have supported a tax on income trust distributions. If the October 30 announcement had been made last Halloween, the billions lost by investors would not have occurred and the playing field would have been leveled by 2011 – all this according to Department of Finance methods of analysis. These losses cannot be recovered and one has to question the path that led us to this point and Finance’s tax policy strategy.
I believe that even the $80 million estimate sharply overstates the leakage. This aside, yesterday’s corporate tax cuts would now allow the abolishment of the income trust distribution tax all together without incurring federal tax leakage – this, again, according to the Department of Finance’s own model.
Dennis Bruce is Vice President with HDR Decision Economics and has studied the income trust tax leakage issue since 2003. He twice testified before the House of Commons Finance Committee on the question Income Trust tax leakage.
Dennis Bruce
Vice President
HDR | HLB Decision Economics Inc.
Ottawa, Ontario
Garth,
I agree with, as usual, 95%~99%.
To an old soul like me, that kind of 1929 talk is just like the 1998 Russian default crisis (this, after 10 months of living through Thai Baht hell).
If it turns out that 1998 is just like 1929…then we have a solid 36 months until our 1932 waterloo, right?
If it turns out like a 1998, then the good times roll until 2001?
Eerie how sometimes we see patterns in history repeating.
However, maybe this is just like a 1987? Wait 4 years and we’ll have our 1993 boom again? What if it’s closer to a 1947 eve?
The 5% where I disagree with you is that I’ve started to favor a strong dollar policy.
The personal events of the past 3 days have convinced me that I want to retire in Canada. A strong dollar policy over the next 50 years will benefit our country (and specifically, me and my generation) on a number of fronts.
First, I’ve reaped professional rewards by importing really skilled people from China and India. There’s a skillset that residents of Canada are not learning, and I welcome the direct competition (as I’ve said before: let’s take on the world. That’s who we’re competing against, let’s not shield ourselves against it.) If federal and provincial labour policy can’t keep up, import’em. Neocon trolls should refer to their Bible, Greenspan’s book, Chapter’s 22 through 24, before daring to challenge me. Looking at you Leasa.
Secondly, a high Canadian dollar will make foreign immigration to Canada, instead of the USA, more attractive. +1 advantage point to us. (And here, I’m talking in the 10 year run, as labour mobility is bound to take a hit regardless of who is hired, much to the USA’s detriment)
Thirdly, a high Canadian dollar will force better efficiency, I hope, a la Germany. For too long, we’ve had our old money commercial elite complain about Canadian productivity figures. I’ve pointed the finger back at them by saying that they were not modernizing machinery fast enough. They’d always yell back at me, strongly, that this was because of the high US dollar. Well – upper crust – time to put your money where your mouth is. Modernize now.
Fourth, I believe that a high Canadian dollar, coupled with a Liberal Government, will bring about a tectonic policy shift that we need in mobile technology policy. (The link isn’t supposed to be obvious). Current mobile policy, specifically data plans, are blunting Canadian competitiveness severely.
Fifth, a strong Canadian dollar makes it easier for me to stand shoulder to shoulder with the Eurozone, especially when it comes to our competitiveness in least developed and slowly developing third world countries…the last true frontier of high risk/high reward, and socially rewarding, investments. My clone-counterpart in the Netherlands, Norway, and Denmark are laughing at me because they think they their foot on my neck. We need a strong dollar to retain our influence in key economies.
In the long-run, I’m pro-strong Canadian dollar.
And that’s essentially where I differ with you Garth. To your credit, I don’t know your long run position, only your short term one.
Mathematicians Have Formulated New Equation To Calculate Flaherty’s Geometry Of Hypocrisy & Stupidity
A well respected scientific journal is reporting that Canadian mathematicians have formulated a new equation to calculate Jim Flaherty’s geometry of hypocrisy and stupidity.
The formula is expressed in the following equation:
a^2 = b^2 + c^2
where:
a = “asshole”
b = “bullshit”
c = “cock-and-bull story”
These mathematicians have tested their theory in the “real world” by inputting all statements uttered by Flaherty into the formula and have found the equation to hold true 100% of the time.
Of course, funding for the scientific study was not provided by the Conservative government.
“Time to pay attention.”
Maybe, finally, more Canadians will.
Being from Alberta I know from experience how hurtful it is when our Federal government “bashes” one of the provinces. We put up with it for years and years under the Liberals – not just bashing us for political gain but the NEP destroyed our economy and devastated thousands of families and businesses – many of which never recovered.
So, Ontario, the “bashing” you feel the conservatives are giving you – trying to get your government to do something good for your province is nothing compared to what we have been through out here.
Garth, I dare say that you have been into the Liberal Kool-aid too much.
If we are indeed we are going into this giant recession that you seem to want to ensure happens, then increasing Government spending is what classic Keynesian economic theory says that we should do. It is during the good times that Government spending should fall back, to save for the next recession.
Our problem is not increasing spending now, but rather that the Chretien Liberals insisted on spending more when times were really good. Your new party should have paid down more debt and reduced taxes more when they had the chance. Every year when it looked like a big surplus was on the way, they would rush to toss it out to try to bribe the electorate with their own money.
Absurb restating of facts. Every year from 1997 until this year, the federal government ran a surplus. Program spending did not increase at double the rate of inflation. Stop embarrassing yourself. — Garth
I echo the sentiments of Phil above:
“And sadly for us, Garth Turner and the LPC continue to make sure that Mr. Flaherty stays in office!”
I agree that the Tories have been increasing spending at far too rapid a pace, but what have we been hearing from the Liberal side of things? Yet more spending! They’re promising billions in infrastructure spending, an anti-poverty initiative, a daycare program, a manufacturing bailout . . . All of that means probably $10-20 billion (at least) in new expenditures. Stephane Dion has said that he’ll cut income & business taxes (a good idea — although over the last few months he’s hardly discussed any form of tax cut) and that he won’t increase the GST (which he should).
I’m not asking this as a rhetorical question; I’m quite serious, but nobody seems to be willing to answer — how will all of this be paid for? I went to the NS Liberal meeting two weeks ago, where a delegate asked Scott Brison, but as usual he fobbed it off. I really would like to know, but nobody is willing to say.
Spending is increasing much too fast, but I fail to see how an alternative government that would spend even more is the right way to go. I don’t expect Garth to answer this — he hasn’t when others have asked — but I thought I’d ask anyway. Claiming that the Tories have no credibility while in the same breath dodging the question of how to pay for your own promises is more than a little bit farcical.
Read it again. Slowly.
Okay, lets do that …
Cut income taxes, not consumption taxes.
Wouldn’t cutting income taxes reduce the surplus you espouse, even faster than consumption taxes? If we are headed into a deep recession, consumption will automatically decline, and the loss to the treasury will not be as drastic. However, to get out of a recession, there must be confidence to spend, and thus the GST cuts are positive measures.
Do not destroy the income trust sector with no good reason.
It’s gone and won’t come back under any government and you know it too. If Flaherty had not stopped the IT mess, a Liberal government and Goodale would have, and you know that too. But by all means keep on beating that drum of discontent for political gain.
Do not increase annual spending by twice the rate of inflation.
So what spending was imprudent, in your opinion?? Rebuilding the Armed Forces? Childcare benefits? Please provide a list of spending that you object to.
Heed the obvious economic warning signs and retain surplus.
But surplus is over-taxation on an ongoing basis. Do you advocate higher taxation during times of economic recession, like that of the province of Ontario??
Do not talk up the currency.
Currency levels cannot be talked ‘up’ .. and besides, the loonie has just dropped by over 2¢ and is now below 99¢. Should the government now talk it ‘down’ ??
Be prudent and even…conservative.
We now have a prudent Conservative government .. and an imprudent Liberal opposition planning an unwanted election in the shadow of a coming recession. I don’t think Canadians will have much faith in electing a sociology professor-led Liberal government, given their past track record during economic good times.
Do I need to repeat it again for you? — Garth
Just keep repeating your political calumny and hope it will swing Canadians around to voting for a Dion Liberal party .. whenever that is ..!!
I would like to see a long list of errors of omission and commission with a parallel list of reality checks. Or a list of truth and consequences would be good. These should be widely seen–maybe in 10 per centers or booklets.
I can’t understand how, if the country knew what was really going on, the polls wouldn’t reflect something better for the Liberals. There is a good enough team there to run the country with much more in-depth thought than Mr. Harper’s bunch of bench warmers.
Look at all the ministers who have been moved because they were inept and inefficient–defence, environment, culture and heritage,agriculture, Indian affairs etc.The Quebec political scene also motivated some of the moves but CIDA still lacks the talent needed to be more effective. And, bringing up the rear….it’s Feadlebaum…or, rather Flaherty, our snide, small minister of finance–and I’m not talking about his physical stature. The self-centred way in which he tried to run down the province of Ontario was akin to treason.
He, who left Ontario with a $5.6 billion
deficit, is blaming McGuinty for whatever might be befalling this province now and in the future. If he were a half decent finance minister, he would acknowledge the sad state he and the other ministers from Ontario (Baird, Clements et al.)left this province in. He doesn’t consider that the higher value of the dollar or the down turn in the U.S. might have had something to do with our recent problems, or the fact that the American car manufacturers didn’t get with the program sooner might have hurt their sales somewhat. The sad thing is, the Cons know a lot of people just listen to their sound bites and they can get away with this cowardly behaviour.
We need to give the people some reality checks to counter the Conspin.
It`s a good 40 years past it`s best by date so we need to upgrade to stay ahead of the curve globally.
Economic conditions will force the change, pity we can`t do it on a positive note but that`s not my call, it`s the call of the people.
By Rome Burns on 03.19.08 10:19 pm
Unfortunately, those 40 plus years of dilly-dallying have put us way behind the nine-ball, and now we’re starting to reap what we have sown.
We have to live with the economic consequences of what the feds. and ourselves (through greed, wanting more and more when most of it wasn’t necessary) have caused ourselves — we have become our own worst enemies.
As well, the immediate generation that will replace us are way over their heads, too involved with trying to stay afloat so they really couldn’t care less what happens to anyone else, let alone Canada.
These were once known as people; they’re sheeple now — they are more than happy to let someone else do their dirty work for them, as long as they can scrimp and save.
Guess we’ll just have to ride this out as best we can. It’s deja-vue all over again.
****************************************
. . . the US central bank dropped interest rates by a whopping three-quarters of a point. . . . Why did the government of Canada increase program spending to the highest level in history in the two years preceding an economic slowdown of perhaps mythic dimension?
Ever heard of smoke-and-mirrors, or the yo-yo effect? Or perhaps, along with Mark Carney’s appt., this whole thing was pre-planned, and simply needed the right people at the right time to set the wheels in motion?
The Dow went up a ton and a half Tues. after the cut was made — Wed. it was down by about the same amount, because some people now realize we’re in Shit St., not Wall St.
Why did Canada increase spending? ‘Howzabout to emulate dubya, who spends to please his masters? harpo, dimjim and others have to please their master (dubya) too.
Ultimately, there will be a select few who continually profit from these wars, and it sure isn’t the taxpayers of either country. Try Halliburton.
The Cons Creed
There is an old saying amongst lawyers that applies to this incompetent governing party.
“If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither is on your side, pound the table.”
Unfortunately, option 3 is all the cons are capable of doing.
I wonder what Stevie will pull off next to get an election going.
Great post, gets your mind moving, I’m not sure we’re heading to a depression, but a correction is or maybe on the horrison, although Many areas of the USA Real Estate Market are seeing activity, certainly in the lower price ranges. As for Real Estate here, in Victoria I see a soft lands with maybe a slight increase in values, we are a destination spot and will be for some time, our weather is the best in Canada during the Winter,and many canadian Now know! I think we hit a new record of 10 degree days this winterand No Snow! I do see pending sales at 40% of the total number of single family listings, however Solds are there so we’re still running at or near 50% of our listings are selling, in 30 to 40 days with some great choices available for Buyers. Prices are holding with some areas seeing an increase while others are off(down),
Cheers, no blood in the streets in Victoria
Garth: Jim was talking up the Canadian Dollar, so he and his rich Canadian buddies could all live more reasonably in their future American retirement homes. Oh yeah… also so the Alberta oilmen can afford more stuff down South, AND get more US$ for their black gold. In the words of many an Alberta Reformer-Con – “who cares about Toronto/Ontario (used interchangeably out here)…
Oh yeah… Why the Ontario bashing? Because Jim has to plant a “nest-egg” for when he gets defeated federally – which might be soon. What better way to start his leadership run at the Ontario Tory leadership than by slamming the Ontario Liberals from his nationally visible pulpit? Jim intends to run for the Ontario Conservative leadership, and the best way for him to bring up the Tories hopes there is to bash the McGuinty Liberals.
I originally got onboard the anti-Harper & Flaherty train as a disgruntled trust investor—-this was indeed a poorly contrived piece of legislation that was done for a number of reasons that had nothing to do with Mr Flaherty`s yak about “Tax Leakage”.
The lost tax revenue is just coming home to “papa Jim” now & it will only serve to enhance the disaster that is about to befall us.
I voted Progressive Conservative & Conservative for 37 years because they were the supposed conservative fiscal minded in society.
How wrong I was!!..
This government is no more Conservative from a financial standpoint than I am 20 again.
They have become dangerous & have to be removed ASAP.
Garth , anytime you pull the plug on this sorry lot , the income trust investors are easily mobilized & will be ready to go in a flash.
It has been 17 months since Mr Flaherty & Mr Harper decided to inflict irreparable damage upon our life savings—to us , it is like it happened yesterday & we will do everything in our power to remove these people from power whenever you decide the time is right.
So Say We All!!!!!!!
Dr Mike Popovich–former Conservative.
According to the ndp the liberals will have a chance to bring down the government right away.Chow is putting forth a motion that is a matter of confidence.
Why did Jim Flaherty do all this….. he’s incompetant! Common economic thinking is governments spend their way OUT of a downturn/recession, not spend your way INTO one. But his rationalisation of all the spending he did in his economic update, “We did all the right things before we had too!” CRAP.
But, I think his days may be numbered as CPC Finance Minister. As you point out, he has suggested that Ontario will become a have not province. We can debate later whether that has been his goal, first as Finance Minister in Ontario and now at the Fed level.
But then his boss, the PM, comes out and says “No, Ontario will always be the economic engine of Canada.”
Is this a case of bad cop, worse cop. Or could this be the first of many cracks appearing within the CPC?
Good morning all,
It is easy to slag Jim for the comments he made regarding Ontario. However, I think this is a criticism that Mr. McGuinty would be smart to listen to and learn. The mark of a good man, is what he does in the face of criticism, so far Mr. McGuinty is simply showing his arrogance and whinning ‘Jim is picking on me’.
Let’s not forget that in this last year, McGuinty’s government has only sat 2 weeks! No question period, no input from the opposition parties, nothing. No new ideas, no plan to deal with the new realities of today’s economy.
I know Mr. McGuinty would rather pretend that every-thing’s okay as he keeps telling us over and over. Seriously though, he would do well to listen to the criticism. Lower corporate taxes…they are way too high.
We must lower these taxes to entice business to stay, you can’t just cherry-pick a few…you must help across the board.
Leasa
Good grief – the west need to stop sulking about something that was over 40 years ago.
Also, I don’t ever recall a Federal government/finance minister/PM personally attacking a premier of any province.
The reason Flaherty’s doing this? Because Harper wants him to. I watched Steve Paiken’s – The Agenda, last week and the panel knows that Harper is doing this so that he can’t be blamed for not having any plan to help Ontario. It’s the preparation for the usual “Liberals” fault “BLAME GAME”. Also, on another panel discussion the conclusion was that economists are wrong 95% of the time.
This isn’t leadership – it’s the childish Johnnie hit me first.
Hi Garth,
While I agree with most of the economic principals you preach, especially cutting taxes that promote savings (income tax) versus ones that promote spending (Sales Tax), I am confused on where you stand on one issue. That is the value of the Canadian dollar.
It seems you were against the rather quick increase in the Canadian dollar and now you are blogging against the sudden decline. Is it the rapid fluctuation you are opposed (No Federal govenment can prevent ones like yesterday, which are bound to happen once in a while) or the value of the dollar itself? As well, what value would you like to see the Canadian dollar at today and in an ideal world how long would you like to see it take to reach that level? (Ex: steady decline to 95 cents by end of April)
Cheers,
joe
The sky is falling!The sky is falling!Sorry,I was listening to lieberal spin again.Shame on PRIME MINISTER STEPHEN HARPER for giving us back OUR money instead of overtaxing us and hiding our money till the end of the year,then declaring “surpluses”.Income trust changes have been said to be the right thing to do by almost all economists,and very few people have been “ruined” by investing in these questionable funds.Ontario isn’t doing enough to change their tax system and as our economic engine,they should be leading the way,not taxing and spending.If you have half a brain when it comes to pesonal finances,you will invest in realestate and pay your mortgage down,keep away from unnecessary creditcard purchases,and avoid 28% loans.It’s called conservative planning,or living within your means.It isn’t hard to do.
Mr Turner
NO !! You do not have to explain it to me again. I got it the first time. Income taxes have been cut. All one has to do is complete their 2007 tax form and it is evident. To state a few a rise in the personal exemption and pension deduction and 1/2 point drop in the basic tax to state a couple not to mention income splitting.
Okay !! maybe the GST should not have been cut but it has been done and people voted for it in the last election. It is time to get over it. If it had not been cut it would have raised more income from canadians. This would have meant more spending by government. So what is the point as the money has remained in the consumers pocket.
The increase on spending appears to be in the Defence Department which is long over due. I fail to see where spending has been increased other than that. What I am hearing from the opposition is to spend more on the auto sector and manufacturing sector. Then you read in the paper that one of these firms are on strike for more wages while the industry is clamouring for assistance. It does not make sense. In this case you cannot have it both ways !!!
The Income Trust has been beat to death. The question is will the Liberals return it to its initial state if they are elected. I think if my mine serves me correctly the Liberals were about to change this when Mr Goodale was in Finance. I do not think any government can return Income Trust to what they were initially. Sure there will be tinkering to give the impression that a change has been made. From what I am hearing from you it is back to what it was as nothing else will do.
As an individual I felt in these poor economic times it would have been prudent to keep some of the surplus to use if needed. I think to put that amount against the debt was nice but not necessary.
Here is the way I see this unfolding. I am not the brightest person in the world. But we will see up and downs in the market for a while yet. I believe the latter part of the third quarter we will see some positive movement in the economy.
As for talking up the dollar. I do not believe any one person has the ability to do this. The dollar moves with the market forces that are dictated in Chicago at the mercantile exchange. This is based upon comodities that drive the canadian economy. When oil is up the dollar is up and vice versa. The markets depict this.
When you look at our economy and conpare it to what is taken place south of the border I believe we have done fairly well. Sure there will be casualties along the way but for those who have jobs have not loaded up on too much debt and have a diversified portfolio will feel some effect but fair okay.
I find it better to show some optimism rather than being pestimistic all the time. This will reduce stress and hopefully bring an occasional smile.
You ask a lot of questions Garth. I’m almost scared of the answers. I don’t mind the odd conspiracy theory. It keeps life interesting, makes you question what the general public/media tells you. Open mind and all.
Do these events not make you go, HUH? I mean seriously, no one, no office, no party can be this dumb, this out of touch with reality. It feels so deceptively planned, so designed to do what it’s doing.
Like I said, I don’t mind the odd conspiracy theory, but this one makes me want to run and hide. Where the FUCK are we heading with this government at the helm?
It appears as though the minority are the only ones that can see, while the rest walk around blindly, thinking we live in a platinum covered candy land. I want that election so damn badly. But what for? To give them another minority? Or, god forbid, a majority?
My faith is still teetering with your party, but I’ll take the Liberals over this any day of the week. ANY day.
“The federal surplus will be virtually wiped out — finally, and as Conservatives have been arguing in favour of for years. After all, a government surplus means the politicians collected more in tax than they need to run the country. It is inefficient, punitive to the people, and hurtful to the economy.”
“But in my discussion with Flaherty and his people I know this: They get it. They are completely aware of the ability of the economy to turn on a dime or energy costs to throw projections off or a real estate problem to sap consumer confidence.”
“Given the love affair Canadians have had with real estate for the last eight years, this [the GST cut] is perhaps the best news new home buyers have had in all that time.”
You said all of this when the Tories brought down their first Budget two years ago. How exactly do you reconcile these words with your current positions? I didn’t get an answer on how Stephane Dion plans to pay for his new programs, but perhaps I’ll get one on this.
Again, this is not a rhetorical question or an empty gesture. I really do want to know.
Thanks Garth, It is so obvious, you had to be living in la la land knowing what has been happening within the Winds of War, couple that with Katrina and oil prices all couched in the raw raw neo con words or saving the world. Bin Laden said; “Hit America in pocket book and you will destroy them” how long must are we the people of the free world willing to put up with these neo cons? For those who say why has Dion not acted….the voters said time and time again they did not want an election! get it? ..politics is like law, you have to build a solid case to present to the jury. To-day there is still 32% who believe in Harper, and Alberta is busy counting their money they do not give a dam. Top this off with the Green the Bloc and the 40% who just do care to vote (But) they always have plenty to say over a beer or coffee and it is hard to get people energized to vote for the truth. Look south one man even under fire continues to stand for change and people get excited, will he win who knows but he soldiers on inching closer to the finish line, good change can happen perhaps it is our time. Canadians usually vote people out not in, could we once vote a team of people in that just might care about Canada and will look to the future, not their personal agenda.
Dr. Mike says “Garth , anytime you pull the plug on this sorry lot , the income trust investors are easily mobilized & will be ready to go in a flash.”
No not all IT investors. We got screwed….twice, first by Goodale, then by Stevie/Flaherty but since we’ve carried on. We were supportive of the Liberal plan but as more and more time goes while the Liberals sit, abstain, walkout, the trust sector continues to be privatized/bought out meaning we have less and less in the trusts and therefore the effect of the Liberal promises on IT’s mean less and less. Any possible damage control that might have occurred with the proposed Liberal changes will mean squat … but then they don’t seem to get that either!
Sit, abstain, walk out. Voters will just follow the Liberals lead in the next election and Harper wins again. Harper’s win will be the Liberals fault.
Leasa says ” The mark of a good man, is what he does in the face of criticism, so far Mr. McGuinty is simply showing his arrogance and whinning ‘Jim is picking on me’. ”
For a minute there I thought you were describing Harper!
Lawyers stand to lose big in fees fight
Lawyers involved in a landmark class-action lawsuit that won same-sex couples full access to Canada Pension Plan survivor benefits stand to lose millions thanks to an unexpected court development that blocks their ability to collect fees from pension funds.
A retainer agreement – approved by an Ontario court four years ago – called for the class-action lawyers to be paid 50 per cent of certain pension arrears to cover legal fees.
But in recent months, lawyers for the federal government came forward to challenge the arrangement.
Courts, aka, The Temples of Inflation. Yes, this is WHY we have so much ridiculous inflation…LAWYERS…Greedy, lieing LAWYERS!
We paid good money for legislators to write clear and concise laws to govern our society, and what do we get? Lawsuits in the millions and billions. Are they all illiterate?
Dollar’s one-day drop worst since Dief was Chief
The last time the dollar had fallen this much was in May 1962 when John Diefenbaker’s Conservative government pegged Canada’s currency at 92.5 cents US, plus or minus one cent, after dollar volatility raged amidst a recession.
Again, we see that Conservative is anything but! Thanks Bush and Harper for your long range foresight into the void.
As to the housing market. Face this reality. You OWE more than any sane person is going to relieve you of. Fortunately, most are seeking instant gratification without any reality check, so you will be able, for a little while longer, to get your ‘asskissing price’ and escape your silliness.
Suggestion to all the real estate agents…learn how to cook burgers and dogs, set up a stand, and be prepared to actually do some real work. Your heyday is OVER!
The Economic Groundhogs were just as wrong as the Weather Groundhogs. (sits humming ‘It’s Only Just Begun!”)
And for the piece de resistance Elite military unit’s blueprints for new HQ found in trash can
Plans showing the layout of a new building for a Canadian Forces counter-terrorism unit based in Trenton, Ont., have been found in a pile of garbage on Bank Street.
The 26 blueprints, stamped with Department of National Defence markings, show everything from the location of the security fence to the floor plan of the new home of the Canadian Joint Incident Response Unit at CFB Trenton.
The unit is the military’s main responder to a terrorist attack using a weapon of mass destruction.
See, Dim Jim used up all the Black Markers last October, and now what do we get?
Fools are aplenty, wise ones few!
Stability, not volatility, is what economic growth is based on. — Garth
Try using the word ‘Sustainability’ in place of ’stability’. The former denotes real change, the later simply maintaining the status quo of a failed economic theory.
We are destined to repeat the multitude of errors unless we have a new plan. Can we afford, as a society, to stay the course of severe economic storms every ten years?
The current one will be a Force 5 storm. expect things to getting terribly messy for quite a while.
Welcome to New Orleans where failure to deal with reality brings on the Mother of All Realities.
Fools are aplenty, wise ones few!
Count on it. He’s got a simple-minded canard and he’s not afraid to use it. Its called marketing for a reason.
These are days when “brighter than bright” is no longer an affront to common sense.
There’s no opposition days before the end of the month, is there? That extra $3M+ leveraged will probably come in handy. That limit isn’t party+candidates, is it?
Some of you act like Jim Flaherty has a history of poor financial management as a Finance Minister! What, did he mess up the biggest province’s economy or something?…………..
Please, let’s defeat this incompetent, arrogant, stupid bunch before they totally ruin this country. what are we waiting for???? I want an election ASAP!!!!!!!
Ah, a policy statment from the LPC…Finally!
Rae set to push for fresh approach to foreign affairs
Advocating a fresh approach to the way Canada conducts itself internationally and domestically, foreign affairs critic Bob Rae will deliver his first major address as a Liberal Member of Parliament this morning to the Canadian Council for the Americas.
Entitled “Constructive Engagement,” the speech will ask the kinds of questions that are swirling around European policy circles: What role do foreign ministries have in a century of globalization and what should they look like?
“We need to bring together more effectively the way we approach economics, development, the environment and foreign policy,” said Mr. Rae, who was fresh from his byelection victory on Monday and still formalizing his thoughts for the speech yesterday afternoon.
“We have to ask ourselves what is the best architecture to bring these themes together.”
While Mr. Rae said he will expand on this issue and focus on topics concerning the United States and Latin America, he will also touch on subjects such as China, India and the G8.
“The G8 is really too much of a club and it’s too narrow to deal with the challenges that we’re facing, such as Iran and the Middle East,” he said.
…more
Bob Rae may be our nearest version of Obama…A Thinker who can clearly articulate his thoughts to everyone (No translator required either)
Bye Iggy…The War Games are over!
“I voted Progressive Conservative & Conservative for 37 years because they were the supposed conservative fiscal minded in society.
How wrong I was!!..”
By Dr. Mike…
You were not wrong with your assumptions, it is just the CPC no longer represents Progressive Conservative values, you were fooled by dishonest representation, as was I. The question is where does one go with their vote, anything but Conservative sounds right but I don’t see anything on the horizon that is much better. Any system that allows the leaders to dictate MP’s votes, is not democracy. I am moving to Rope’s appointed Federalism, it seems to be a viable alternative.
By Harry S on 03.20.08 12:23 am
I can’t belive I’m responding to you but:
“Cut income taxes, not consumption taxes.
Wouldn’t cutting income taxes reduce the surplus you espouse, even faster than consumption taxes? If we are headed into a deep recession, consumption will automatically decline, and the loss to the treasury will not be as drastic. However, to get out of a recession, there must be confidence to spend, and thus the GST cuts are positive measures.”
You can only spend what you have. With the credit crunch coming – people will have less to spend. An income tax cut would give more people more money to spend – on both taxable items, and non-taxable items.
“Do not destroy the income trust sector with no good reason.
It’s gone and won’t come back under any government and you know it too. If Flaherty had not stopped the IT mess, a Liberal government and Goodale would have, and you know that too. But by all means keep on beating that drum of discontent for political gain.”
If the IT sector was a mess as you state – then show the proof. That’s all people have been asking for. You saying it was mess doesn’t make it so – nor does releasing 18 pages of balcked out info. As far as any reasonable can tell, the move was not necessary, ill timed, and devestating to the industry – and to investors – at a time when the economy tanked.
“Do not increase annual spending by twice the rate of inflation.
So what spending was imprudent, in your opinion?? Rebuilding the Armed Forces? Childcare benefits? Please provide a list of spending that you object to.”
$100 a month to everyone for “child care”, without creating any child care spaces was imprudent. Continuing to fight a war that had been declared by most reasonable people as unwinnable is imprudent. “Rebuilding” our armed forces with equipment they don’t want or need (i.e. heavy lift aircraft), while our Navy and airforce are grounded from lack of fuel is imprudent. A 1% cut in GST a full year before it was promised was imprudent.
“Heed the obvious economic warning signs and retain surplus.
But surplus is over-taxation on an ongoing basis. Do you advocate higher taxation during times of economic recession, like that of the province of Ontario??”
I’ll say it before, and I will say it again – as long as there is a $500 B National Debt there is no surplus. But since you don’t get it, I try this way:
If having a surplus is overtaxation – then have a deficit is under taxation. The reason we are overtaxed now is because of the undertaxation that occured in the ’70s and ‘80. At some point that debt needs to be paid. Ideally is should be paid before the generation that allowed that debt to come into existance is dead.
There is nothing wrong with running a reasonable “surplus” – it allows for debt repayment in good years, and relief funding in lean years – while keeping our tax levels stable. When we run a deficit this year – are you going to support an increase in taxes?
“Do not talk up the currency.
Currency levels cannot be talked ‘up’ .. and besides, the loonie has just dropped by over 2¢ and is now below 99¢. Should the government now talk it ‘down’ ??”
Currency levels can be talked up – by stating that our economy is as stong as the Canadian Shield – when it isn’t. Now – I don’t blame the Conservatives for the rise in the dollar – a lot of it was outside their control – but what we need is a stable dollar. A 2 cent drop in a day is just as bad a 40 cent gain over a year. Without stablity, one cannot plan.
“Be prudent and even…conservative.
We now have a prudent Conservative government .. and an imprudent Liberal opposition planning an unwanted election in the shadow of a coming recession. I don’t think Canadians will have much faith in electing a sociology professor-led Liberal government, given their past track record during economic good times.”
I disagree with your assessment of this government. They have been anything but prudent. They threw extra monies at the provinces “fixing” the so called fiscal imbalanced. They have allowed year to year operating costs to rise faster than inflation. And if anyone is pushing for an election – it’s been the Conservatives, thanks to their ill-thought out (but politically expediant) elections date bill. If they started to govern, instead of continually campaign I would agree with you – but every bills, statement, and word out of this government has been solely for the purpose of getting a majority. What they don’t get is that if they would govern reasonably, and for the best of the country they would get their majority.
I am certainly not advocating that the Liberals are any better. I’m tired of the sabre rattling, the vote abstaining and the waivering.
Defeat the goverment, or stop the complaining about how bad this government is for us. Every day that this goes on is another day that the Liberals are complict with the conservatives. I was ready for an election a year ago.
Seems Diane Francis and a few others see the error of Jim Flaherty’s ways.
http://www.nationalpost.com/opinion/columnists/story.html?id=b3f1bb6f-ecf7-458c-9ddd-ec968533bd31&k=39055
By No fool like an old tory on 03.19.08 10:04 pm
My opinion – The Conservatives know that they have lost Ontario. The only way that they can increase their votes (to get their majority) is to convince the voters that the problem with Ontario is because of the Provincial Liberals – and hope that the electorate cannot, or will not, distinguish between the Provincial Liberals, and the Federal Liberals.
What Harper and crew fail to realize, is that out of every province I’ve lived in (Manitoba, Saskatchewan, Alberta and now Ontario) – Ontarians are (for the most part) better able, or more willing to, seperate the Provincial parties from the Federal ones. Take Alberta as an example. 40 years ago, the Federal Liberals “screwed” Alberta with the NEP. That has basically destroyed the Federal and Liberal parties in that Province. When Mulroney gave the CF-18 deal to Montreal over Winnipeg in the 80’s – the PC goverment of Gary Filmon became an NDP goverment. In Ontario – people seem to get that Provincial parties are not Federal ones – so the plan is not working.
Now – I don’t like McGuinty. He’s, in my opinion, a liar and an opportunist. He’s got no real plan for Ontario, and the only reason he won was because Tory ran a horrible campaign. However, it’s not 100% his fault that the econopmy is tanking. It doesn’t help matter when Flaherty says on national and international news that Ontario is the last place anyone should invest, and that we will be a have-not province.
What the Feds DON’T get is that the issue in Ontario is more than “taxes” – which is a load of crap BTW – Ontario has the lowest taxes of the Great Lakes region ( – ie. lower business taxes than Michigan, New York, etc). It is going to require cooperation at a federal level and provincial level. The only party coming across as the one unwilling to cooperate is the Feds. They are the ones that started this war of words. And seriously, if Ontario became a have not province – it would spell disaster for the rest of the country – since equalization is based on Ontario. You really think Alberta wants to send money to Ontario? Heck- they don’t even want to sell us oil at market price.
Time to pay attention.
Canada’s New Government cannot afford to pay more attention! We spent all that money to buy votes and support, in vain!
A change of subject I know but isn’t this the weekend that Jim Prentice will give his decision on the sale of MDS to an American company. After all the taxpayers money that has gone into this company, as well as all the Canadian knowhow and expertise that went into Canadarm, Dextr and the new satellite, I don’t think it should be allowed to get into American hands. If the economy is going down as forecast, then it is even more important to keep all this expertise in CANADA. If you agree with this premise, then I ask you to e-mail Jim Prentice to voice your opinion. Public opinion got the Conservatives to move on the Brenda Martin case, I think we should use the same methods to stop this sale.
A look at the predictions of the last Liberal election campaign…
Remember these seemingly impossible premonitions?
See any resemblance to present events? Any that we should be concerned about?
>>>
The ads
These 30 second attack ads were produced and aired by the Liberal Party. All featured a close-up picture of Stephen Harper with the sound of war drums beating. The ads focused on some comments from Harper’s past and the Conservative platform. Most of these were denied by the Canadian public and media. Several articles, including one by Paul Wells of Maclean’s magazine, indicated that the Liberals were grasping at straws, and that not all of the comments could be proven.
* “Like Stephen Harper, Mike Harris had a right wing agenda. Remember the Common Sense Revolution? Remember the environmental neglect, the shattered social programs, the crumbling schools and hospitals, the huge deficits? Yeah, that Common Sense Revolution. Do we really want to go down that road again?”
* “Who paid for Stephen Harper’s rise to the head of the party? We don’t know. He refuses to reveal his donors. What do you suppose he’s hiding? We do know he’s very popular with right wingers in the U.S. They have money, maybe they helped him. We just don’t know. He just won’t say.”
* “Gilles Duceppe and Stephen Harper worked together to bring down the government. Lots of late night secret meetings. Apparently, they’re quite a team. Which is great. Because if Harper wins this election? He’ll have to work very, very closely with Duceppe. Unfortunately, their unity won’t do much for Canada’s unity.”
* “This is what Stephen Harper told his American friends: ‘Canada is content to become a second-tier socialist country, boasting ever more loudly about its economy and social services, to mask its second-rate status.’ When he said, ‘You won’t recognize Canada when I get through with it,’ he wasn’t kidding.”
* “Stephen Harper spoke to a secret, ultra right-wing American think tank. In a Montreal hotel, off limits to press and public, he said, ‘America, and particularly your conservative movement, is a light and an inspiration to people in this country and across the world.’ No. We did not make that up. We’re not allowed to make stuff up.”
* “Stephen Harper’s stand on public health care? ‘… Provinces have allowed private health care services in the past. Why should I care? Why should the Federal government care how they’re managed?’ Seriously, that’s what he said. Well, Paul Martin cares very much, Mr. Harper. And so do Canadians.”
* “Here’s what Stephen Harper told some of his American pals about Canada’s unemployed: ‘Don’t feel particularly bad for these people. They don’t feel bad about it themselves. Not as long as they’re receiving generous social assistance and unemployment insurance.’ Not exactly the kind of compassion we’re looking for in a Prime Minister, is it? A social safety net is a fundamental Canadian value, Mr. Harper.”
* “Stephen Harper’s view of Atlantic Canada? ‘Unfortunately, many people in Atlantic Canada feel that it’s only through government favours that there will be economic progress.’He called us ‘A culture of defeat.’And he said: ‘Atlantic Canada needs Quebec to stay in Canada because of our weak economy.’ Maybe we should choose someone who actually loves Atlantic Canada.” (This ad was often played after one of the previous ads in the Atlantic region).
* “From the Washington Times, Dec. 2, 2005: ‘Canada may elect the most pro-American leader in the Western world. Harper is pro-Iraq war, anti-Kyoto and socially conservative. Bush’s new best friend is the poster boy for his ideal foreign leader. A Harper victory will put a smile on George W. Bush’s face.’ Well, at least someone will be happy, eh?”
* “Stephen Harper has made a lot of promises to a lot of people. Apparently, he’s made a few too many. Now he admits he’ll have to either raise taxes, or run a deficit to pay for them all. Wow. He’s not even elected yet. And he’s already running a deficit.”
* “Get a load of this. Stephen Harper once said: ‘The Western ridings that the Liberals hold are dominated by either recent Asian immigrants or recent migrants from eastern Canada. People who live in ghettos.’ We’re not kidding. He actually said that.”
The ads ended with a voice stating the Liberal campaign slogan, “Choose Your Canada”. <<<
SLG – where have you been??? YOu have not seen a federal governmjent attack any province. For THREE Liberal Federal campaigns Alberta was painted as the boogy-man of federation by the Liberals; Premier Klein was trashed openly in Liberal ads that he and Alberta were going to single handedly destroy Medicare, for example – and even now the Liberals slag the oil sands mercilessly instead of Ontario’s smog and pollution producing coal plants and manufacturing plants.
Why do you think that the movement to separate from Canada was so hot during the 90’s and if there had been yet another Liberal government whose policies are to meddle in provincial and municipal jurisdictions this time around I think both Quebec and Alberta would now be well on their way.
Ontario people – you have no idea what Albertans have had to withstand from the Liberals and the Liberal media. But the effects are still felt when we still hear easterners speak about our beautiful province with disdain. The Liberal smear campagin aginst this province stuck. It was anbd is shameful.
I echo the sentiments of Phil above:
“And sadly for us, Garth Turner and the LPC continue to make sure that Mr. Flaherty stays in office!”
By David – Ontario on 03.20.08 12:00 am
And sadly, so must I.
On CBC’s the House this past Saturday, Mr. Goodale was sounding exremely lame with the excuse that the CPC were trying to force an election and that the LPC would trigger one at the time of their chosing. I’m sorry to say, he wasn’t convincing.
And the fact is, Mr. Harper will continue to try and trigger an election knowing that the LPC will continue with this excuse, leaving him free to continue his mismanagement ways.
The LPC excuse record is becoming as worn out as the Harper “the Liberals had 13 years” which we heard from Mr. Day last week concerning the stowaways in Halifax.
While Canada burns and Nero Harper watches on with glee, when will the straw break the camels back in the minds of the LPC and Mr. Dion pulls the plug?
As they used to say at closing time, “Time, Gentlemen, please!” Its time to close down Harper’s government.
What baffles me, is why did all ten Provincial Finance Ministers write letters of support for Flaherty’s Income Trust changes ?
Any Liberal brainiacs out there got an explanation for that ?
Letters of Support From Provincial Finance Ministers
I forgot to add … the NDP and BLOC were also both in agreement with Flaherty.
So, unless Dion gets a majority, it’s highly unlikely that any of the different IT changes that John MacCallum has proposed will get through Parliament.
I’ll bet Garth already knows these things. But hey, I don’t blame the Liberals for raising false hopes for IT investors. Especially if those same IT investors can be convinced to donate to the LPC.
The sky is falling! The sky is falling! At least that’s the message from those geniuses at BMO and the other large financial institutions. The same bunch that have missed their predictions on employment, economic output and the value of the dollar by a country mile every month for a year. The same bunch that kept assuring everyone that the asset-backed sub prime investments were as solid as GICs. The same bunch that wants to incorporate their stupidity so they can shaft the very people they gulled in the first place. All I have ever learned from this crowd is that they are great at predicting the past (and I just completed a course in economics which only showed me how to justify poor judgement!)
These clowns keep telling me that credit has dried up…yet my mailbox is stuffed with solicitations from banks to come in and borrow and credit card providers to sign up for an increased spending limit. In view of their sterling record of economic prognostication, the surest way to avoid a serious problem in this country is to ignore their advice and get on with our lives…of course with the caveat that we avoid investing in any of their latest sure-fire scams.
Any Liberal brainiacs out there want to try explaining this ?
Letters of Support From Provincial Finance Ministers over Flahery’s Income Trust Changes
samples …
Quebec: “In closing, I again salute the courage you have shown in addressing this issue.”
B.C.: “In closing, I would like to thank you for taking the necessary steps to address this issue.”
Ontario: “I would like the Committee to know that, in principle, the Government of Ontario supports the federal government’s efforts to ensure fair taxation through changes to the tax treatment of income trusts. “
Wow. Finance ministers who want to fleece taxpayers. What a revelation. — Garth
“Stability, not volatility, is what economic growth is based on.” says Garth
But it’s not easy establishing a One World Currency and continuous wealth transfer. For that you need major redestruction.
…you need volatility of commodititties bouncing up and down and velocity of currency to make your head spin. You need to eliminate the daily bread of “coupon clippers” and offer them only the solace of the stock casino. Most important is the creation of fear, pain, suffering and blood in the streets.
The people must call for a “solution”, for “change”.
In all of this, our elected government and economic masters excel. They are not running on empty, they are heading full speed
going forward 
I can’t understand how, if the country knew what was really going on, the polls wouldn’t reflect something better for the Liberals. There is a good enough team there to run the country with much more in-depth thought than Mr. Harper’s bunch of bench warmers.
***************
Pat, it’s pretty hard for the Liberals to gain strength when not only do they have the MSM blatantly working for the CPC but they have the likes of the NDP to deal with. It doesn’t help to have Layton playing footsy with SH either. He has become an opportunist & lost site of what his job really is & attacking the leader of the opposition party when he thinks he can score a few points isn’t doing him any favors either. What a dip stick has become.
Pat, people who don’t take an interest in politics’ get their news from television & reading the newspapers. It used to be that both were the watch dogs for the people to keep the governments on the straight & honest. Journalists would seek the truth at all costs. Not so now.
The Editors of newspapers made sure that anything they published was based on truth & not opinions. Not so now. Free advertising for politicians were a no-no. Not so now. They were not known to hand out favors to any political party. Not so now. In my view, they have lost the ability to be credible & by giving Harper free advertisements, that doesn’t help Dion either. When politicians are on Question Period, Duffy & Taber should be told to shut up & quit interrupting so that they can answer the question properly. Fife is a joke & about as transparent & credible as Dim Jim.
In my opinion, the Media has become nothing but smut magazines. They have lost the credibility they once were known for.
BTW, it takes “all” the opposition parties to bring any government down. Unless Dion gets their support, he can’t do it on his own. That’s a fact we should not lose site of that.
Have a great Easter weekend,
Cheers
Stephane, were you just leading me on? It’s not nice to treat a lady like that you know! A woman scorned….
Call me, you got my number. Yours truly, May.
Our life has become a sad cartoon:
Stockwell quick, tell them that the anti-terror unit plans were left there on purpose to catch the Ace terrorist who will not die – Bin bait. BBBBBbrrrrrrrrahahahahaha
Plans for Canada anti-terror unit found in garbage
Economics 101 by Leasa – repeat the rhetoric – isn’t that comforting.
Here’s a reminder (portion of a letter written to the editor of a local paper):
“Perhaps a little look back in Ontario’s history would shed some light.
Thirteen years ago this June, we elected a government in Ontario who cut taxes, including business taxes, largely by downloading reponsibilities to municipalities, regions and counties. We were promised great economic benefit.
Now, these donwloading costs are becoming more and more apparent as the county and municipal governments try to maintain the downloaded services by increasing taxes.
We appeal to the present provincial government for economic help but no one seems to put the blame for the lack of funding where it belongs.”
13 years ago the Ontario government elected in June was the Mike Harris government – included – Baird, Clement and Flaherty.
Good grief – we don’t want to go back to that.
Funny – Dion & the Libs are put down for not bring down the Cons. Yet the cons, who campaigned on an open, accountable, transparent govt, are anything but. As an opposition party, they said they’d do things differently, and I’m sure they got lots of votes to put them into a minority position because of their moral stance. And now, what do we see, they are far worse than the Libs. Of course the con trolls, who were so against the Libs 2+ yrs ago, are now supporting the con lies, bribes, and their anti-democratic actions. Hope you cons never say anything against your masters as they might take legal action against you.
The government should impose a flipper tax on people flipping real estate.
Garth … Premier McGuinty doesn’t agree with your doom and gloom economic forecast.
‘Don’t panic’ over economy, McGuinty says
The Ottawa Citizen – March 20, 2008
TORONTO – Federal Finance Minister Jim Flaherty is wrong to suggest Ontario is headed to “have-not” status in the next two or three years, Premier Dalton McGuinty said yesterday, as he countered yet another warning from Mr. Flaherty about the province’s economic prospects.
“I don’t think it’s helpful to panic,” Mr. McGuinty told reporters yesterday. “I think we need at all times to remain thoughtful.”
On Tuesday, Mr. Flaherty said Mr. McGuinty risks leaving a dubious legacy if he doesn’t quickly cut corporate taxes. If the economy continues to worsen, Mr. McGuinty will have taken Ontario from “the strongest economic province in the federation to a “have-not’ province” in two terms of government, he said.
Mr. McGuinty disagreed yesterday, saying even the most pessimistic economists are forecasting growth this year. He pointed out that job losses in Ontario’s manufacturing-heavy economy are part of a larger North American trend.
The sector has also suffered from the soaring dollar, which has made Ontario products more expensive on global markets.
While the federal Conservatives would like to see Ontario cut its corporate tax rates, currently at 14 per cent for most businesses and 12 per cent for manufacturers, Mr. McGuinty has all but ruled out that option.
“The federal government has a different view from ours,” he said. “I respect that view, but I don’t share it.”
He instead pointed to one of the more positive economic achievements of his government.
“In last four years, we’ve created 450,000 new jobs here in Ontario — that’s one-third of all new jobs created in all of Canada.”
More ….. http://tinyurl.com/2cxea9
What did you expect a premier to say? — Garth
Talk about WASTE of taxpayer money?
Ottawa urged to put $1-billion into official languages
The Canadian Press
March 20, 2008 at 11:31 AM EDT
OTTAWA — The federal government should pump at least $1 billion over five years into promoting Canada’s two official languages, the head of a federal bilingualism panel says.
It was among a variety of recommendations made in a 50-page report by former New Brunswick premier Bernard Lord — a document that was released two months behind schedule after being appointed in early December to head the commission.
Heritage Minister Josée Verner has said Lord’s work will serve as the foundation for the government’s next action plan on official languages.
The current plan, produced under the Liberals in 2003 and due to expire at the end of this month, had a cumulative budget of $810-million.
Our infrastructure is falling apart, our military is sent into Harm’s Way without proper equipment, and this schmuck wants to blow $1 Billion on making the French feel good?
The balance in the Treasury is how much after Dim Jim sucked it basically dry?
“Let’s not forget that in this last year, McGuinty’s government has only sat 2 weeks! No question period, no input from the opposition parties, nothing. No new ideas, no plan to deal with the new realities of today’s economy.” – Leasa
Gasp. Could you image if Ontario’s Liberal’s started acting like Alberta’s Conservatives?
Please.
Charles Oxley on 03.20.08 1:14 am,
What is really interesting about what is happening it that it is right out of Straussian philosophy.
To simplify the Straussian theory,, it was based on the concept that western society was becoming too comfortable and hence “weak.” There needed to be a correction in order to toughen society. One way to do this was to engage in unending warfare to undermine the public sense of security so they would not challenge what was happening.
In the initial stages the “gentleman” class would be used to sow the seeds of their own destruction by using their greed and arrogance against them. In the end only the “strong” would survive and the “weak” would perish.
Is it possible that the “true believers” in the philosophy that came out of Strauss’ teaching and the Chicago School have been able to intentionally engineer such a collapse?
Tim N on 03.20.08 9:57 am,
You are correct that taxation is not the problem. The problem is a globalized economy that demands wages below the level that would sustain life in a place like Canada. Even if corporate taxes were totally eliminated it would do nothing to change that reality.
A far more drastic solution is needed but with a federal government led by a Prime Minister that opposes government for the masses and adheres totally to the nineteenth century liberal ideology of individualism, laissez-faire economics, and globalism you will not see bold solutions. You will only get a government fixated on war and tax cuts just like the Bush Administration in the U.S.
To launch any big-ticket initiatives over the next few years a prime minister — whether Harper or a successor — would either need to risk political suicide or hope for an economic miracle.
“They’ve gradually re-engineered the system. I’m quite impressed with it,” said Flanagan, who ran the 2004 Conservative campaign and has been a longtime confidant and former chief of staff to Harper.
The Tories actually boosted spending dramatically in their first two budgets, often on conservative-friendly measures like tax credits for families, an equalization hike that went largely into provincial tax cuts by the Quebec government, and new military equipment.
While overall spending went up, measures were taken to deplete revenues. There were the GST cuts worth more than $11 billion annually, income tax cuts, corporate tax cuts, bigger provincial transfers and income-splitting for seniors.
Some other measures will accelerate over time, Flanagan says, like Employment Insurance reforms and tax-sheltered savings accounts from this year’s budget.
Now the economy appears to be slowing down and spending increases are being curtailed considerably to avoid a deficit. The budget surplus has shrivelled from $13 billion last year to projected surpluses of $2.3 billion, $1.3 billion, $3.1 billion, and $4.7 billion over the next four years.
That means Ottawa can no longer wade into provincial jurisdictions like education and health care — forcing it toward a more minimalist agenda if it wants to keep the books balanced.
Flanagan says that in the prime minister’s step-by-step approach, spending control was the last piece to fall into place.
How to bankrupt a nation in three eady steps .
“Harper really didn’t have the option of the cataclysmic approach because you can’t do that without a majority,” he said in an interview.
“So he’s made the incremental approach work — all the time having the insecurity of a minority government.
“It’s really quite a performance, I think . . . Over a period of a few years they’ve got all this in place and they never appeared — at any one point — they never appeared to be making a radical shift.
“But the cumulative impact of all these together is creating a new profile.”
Not only are the Conservatives boxing in the federal spending power in general, said Flanagan, “they’re also boxing in the Liberals from being able to campaign on expensive promises.”
The Tories are fond of pointing to John Diefenbaker and noting that federal revenues as a share of GDP will fall by 2010 to their lowest level since The Chief was in office.
In fact, federal revenues will drop to their lowest level since Lester Pearson’s early days in office. They were at 14.9 per cent of GDP in 1963-64, grew to a high of 19.5 per cent in 1974-75, and are now projected to drop to 15.3 per cent in 2009-10.
This tale is frightening, and as the Liberals are fully ware of this Machiavellian scheme , and totalitarian in its approach .
We must take back out our Government. Now !
Powell Lucus,
Yes….brilliant. Go on with you life. That outta work out just great.
Real estate collapse is ripe and ready. It’s almost here. 12-18 months tops and we should see at least 15% correction with the very real possibility of 30%.
But go on with you life. Spend spend spend. In the immortal words of George Bush…”everything will be fine as long as we all go shopping….”( something along those lines)….
The government should impose a flipper tax on people flipping real estate.
By Sims on 03.20.08 12:06 pm
There already is one. It’s called “Capital Gains.”
Is this a case of bad cop, worse cop. Or could this be the first of many cracks appearing within the CPC?
By James- Chatham on 03.20.08 7:37 am
Nothing is done without the PM’s parmission including going to the washroom!
G&M news item; Move on Budget Bill could force an election.
Garth, would it be possible to run a discussion on Immigration?
Thanks,
Straussian theory
Harper and some of his cronies at UofA are certainly Straussian along with Wolfowitz and others in US
Mr. Flaherty has it wrong.
Taxcuts hurt business, they don’t help. Taxcuts lead to an undersupply of the public economy, which results in an economy of scarcity on the one hand and excessive demands on the private economy, that doesn’t have the funds and logistics ready to build up all projects of public interest, on the other.
Business must pay its fair share. No business in Canada can succeed without the public infrastructure, e.g. financial, education, research, law, healthy employees, etc. that is built up through our tax dollars.
What Canada needs is a corporate tax structure that closes loopholes and requires all companies to pay their fair share. This would enhance Canada’s global competitiveness and allow government to pay for the public programs that benefit all Canadians and, in doing so, foster a healthier business climate.
Also, I don’t think we should be focussing so much on Mr. Flaherty’s shortcomings. The more we focus on his faults, the more we miss the real issue, the conservative’s guiding philosphy.
Tax cuts are conservative duct tape — they can solve any problem. Through their lack of vision and focus on tax cuts, conservatives are undermining the best of Canadian values and weakening our country.
We’ll lose more through conservative policies than we’ll ever gain through taxcuts. This is what the Canadian public needs to know.
-R
Garth:
Just got off the phone with my tax man and he told me he just finished his return and saw an extra $900 in saving from income splitting. I told him to tell others and remember it was Garth Turner who forced Fat Face Flaherty into it…to whit he said I know David. now how much better is than than all the brouhaha neo con GST crap, me still diving a 97 Toyota, no fancy van for this retired ode sailor. Thanks Garth….
How about we stop wasting money and lives on stupid wars and start paying attention to our country, our people and others in the world whom we can help?
From Robert Fisk at The Independent:
“And I will hazard a terrible guess: that we have lost Afghanistan as surely as we have lost Iraq and as surely as we are going to “lose” Pakistan. It is our presence, our power, our arrogance, our refusal to learn from history and our terror—yes, our terror—of Islam that is leading us into the abyss. And until we learn to leave these Muslim peoples alone, our catastrophe in the Middle East will only become graver. There is no connection between Islam and “terror”. But there is a connection between our occupation of Muslim lands and “terror”. It’s not too complicated an equation. And we don’t need a public inquiry to get it right.”
http://www.truthdig.com/report/item/20080319_robert_fisk_the_only_lesson_we_ever_learn_is_that_we_never_learn/
This headline says it all!
Jailed Canadian calls MPs’ visit a ‘dog-and-pony show’
A Canadian woman imprisoned in a Mexican jail says a visit by a pair of Conservative MPs was nothing more than a “dog-and-pony show.”
A tearful Brenda Martin says she thinks Tory MPs Jason Kenney and Rick Norlock met with her for political gain now that her case is garnering more media attention.
But she says she’s not optimistic she’ll be freed and begged Prime Minister Stephen Harper to “save my life.”
I hope they both got Montezuma’s Revenge!
Libs speak out on Brenda Martin. oops looks like Harper fibbed . . . again
For Immediate Release
March 20, 2008
Just Like His Ministers, Stephen Harper Fails Brenda Martin
OTTAWA – Prime Minister Stephen Harper must demonstrate that he is willing to fight for Canadian citizens by demanding action on the Brenda Martin case, Liberal Leader Stéphane Dion and Liberal Consular Affairs Critic Dan McTeague said today.
“The Harper government has been far too passive in handling this case,” said Mr. Dion. “It is my hope that the visit by Conservative MPs Jason Kenney and Rick Norlock was not simply a photo-op to limit the political damage to Conservatives from public outrage over Brenda Martin’s predicament. It’s time for this government to show some leadership and demand action on this file,” he said.
Mr. McTeague pointed out that the Mexican Embassy’s press release on Monday’s phone call says it was President Calderon who called Prime Minister Harper, not the other way around, as Mr. Harper has suggested. In fact, the call had been previously scheduled.
“The embassy states the call’s main purpose was to exchange points of view and coordinate strategies for the upcoming North American Leader’s Summit. The press release included a vague reference to a discussion on progress in the treatment of consular affairs that has taken place in the bilateral relationship, given the substantial increase in the number of visitors traveling between the two countries. It acknowledges the work carried out through the Early Alert Group in some highly visible consular cases to improve the quality of attention provided. There is no mention at all of them discussing Brenda Martin,” said Mr. McTeague.
The Prime Minister’s Office has declined to confirm if Mr. Harper did indeed raise Ms. Martin’s case. This leaves Canadians questioning the true level of Mr. Harper’s personal involvement in this matter and in bringing Ms. Martin’s case front and centre to the Mexican president. (LOL caught again Stevie)
Mr. McTeague described the entire affair as a travesty of justice that has led to a Canadian citizen being imprisoned for two years without being afforded fundamental and internationally-recognized legal rights.
“Mr. Kenny has joined the growing list of Conservatives who have repeatedly dashed the hopes Ms. Martin had about being released. If there was no public outrage over this case, the Conservatives wouldn’t even be trying to cover up their inaction and incompetence – they would merely continue to ignore her as they have for almost two years,” he said.
Mr. Dion said that the Prime Minister’s excuse that he can not intervene on her behalf is ridiculous.
“How, then, can he say that Canada will intervene with Saudi Arabia to spare the life of Mr. Kohail? How is it also possible for Canada to have legal assistance treaties with other countries – including Mexico?” he said.
“There are many examples where states can and do stand up for their citizens. When will Mr. Harper finally stand up for Brenda Martin?”
-30-
For More Information:
Glenn D. Bradbury
Office of the Honourable Dan McTeague, P.C., M.P.
613-995-8082
Stability, not volatility, is what economic growth is based on. — Garth
I agree with you about stability but i fell this constant ” the sky is falling” rhetoric sure doesn’t help matters very much. It is my belief that the government any Canadian government has no control over oil prices and has no control over the dollar rate or interest unless they beg the dollar was it hasn’t been for more years then I can remember.
So, my question to you Garth is. What would a Liberal government do that would prevent what you claim is about to happen which is a recession for Canada? I understand that the Bank of Canada sets the interest rate and the oil prices are set by OPEC and the speculators in the stock market. Personally, I rather am very doubtful that a Liberal government could do anything however, I am willing to listen to what you have to say.
In fact, federal revenues will drop to their lowest level since Lester Pearson’s early days in office. They were at 14.9 per cent of GDP in 1963-64, grew to a high of 19.5 per cent in 1974-75, and are now projected to drop to 15.3 per cent in 2009-10. By men,.,
So you are advocating the Liberals make massive tax increases. Sorry buddy, this just won’t fly. Even the Liberals are not that stupid. The NDP, well that is another matter.
Have no idea what you are blathering about. — Garth
Good morning all,
It is easy to slag Jim for the comments he made regarding Ontario. However, I think this is a criticism that Mr. McGuinty would be smart to listen to and learn. The mark of a good man, is what he does in the face of criticism, so far Mr. McGuinty is simply showing his arrogance and whinning ‘Jim is picking on me’.
Let’s not forget that in this last year, McGuinty’s government has only sat 2 weeks! No question period, no input from the opposition parties, nothing. No new ideas, no plan to deal with the new realities of today’s economy.
I know Mr. McGuinty would rather pretend that every-thing’s okay as he keeps telling us over and over. Seriously though, he would do well to listen to the criticism. Lower corporate taxes…they are way too high.
We must lower these taxes to entice business to stay, you can’t just cherry-pick a few…you must help across the board.
Leasa
By Leasa on 03.20.08 7:41 am
Spoken like a true neo-con. You lost all credibility when you claimed that Mike Harris was the best premier Ontario ever had!
The latest news from the Conference Board in the US regarding the US economy….the short version….recession is on the way.
Rise in jobless claims, drop in index suggest U.S. economy faltering
Eileen Alt Powell, THE ASSOCIATED PRESS
March 20, 2008
NEW YORK – A rise in jobless claims and a drop in a key forecasting gauge provided the latest evidence that the U.S. economy is faltering and may be slipping into recession.
The Conference Board, a business-backed research group, said Thursday that its index of leading economic indicators fell in February for the fifth consecutive month. The index, which is designed to forecast where the economy is headed in the next three to six months, dipped 0.3 per cent to 135.0 in February after slumping 0.4 per cent the month before.
In Washington, meanwhile, the Labor Department said that applications for unemployment benefits totalled 378,000 last week. That was an increase of 22,000 from the previous week and the highest level in nearly two months.
The four-week average for new claims rose to 365,250, which was the highest level since a flood of claims caused by the 2005 Gulf of Mexico coast hurricanes.
Ken Goldstein, labour economist at the Conference Board, said in a statement accompanying the leading indicators report that economic signals “are flashing yellow.”
He said the numbers indicate “the economy may be grinding to a halt” and that “a small contraction in economic activity cannot be ruled out.”
A Federal Reserve reading of business activity in the Philadelphia area showed contraction – but not as much as analysts expected. The news helped the stock market on Thursday recover from a drop the day before.
In afternoon trading, the Dow Jones industrial average climbed 158.02, or 1.3 per cent, to 12,257.68. Other indexes also were up.
The economy has been hard hit by rising gas prices, falling home prices and tightening credit markets, which have forced consumers and businesses to cut spending. As a result, the U.S. economy may have stopped growing in the current quarter and could continue faltering in the second quarter. That would meet a technical definition of a recession – two consecutive quarters of economic contraction.
Pessimism about short-term U.S. economic prospects was voiced by the Organization for Economic Cooperation and Development, which on Thursday downgraded its growth forecasts for the United States, the euro zone and Japan
The OECD, a Paris-based institution that supports global development, cut its forecast for first-quarter gross domestic product in the United States to 0.1 per cent and predicted that GDP would be flat in the second quarter.
Like the OECD, most experts expect any downturn to be relatively mild and probably short-lived. That’s because the Federal Reserve in recent months has aggressively lowered interest rates and made more funds available to banks and brokerages. And the Bush administration has been moving on several fronts to boost the economy, including the promise of tax rebates starting in the summer.
“It will take some time before the Fed rate cuts since January have an effect on the economy,” Brown said. And the rebates and other fiscal stimulus are likely to kick in to boost spending this summer, he added.
The economic weakness already is showing up in higher layoffs and weaker hiring numbers.
The Labor Department’s report said the total number of payroll jobs fell by 63,000 in February, an even bigger decline that the drop of 22,000 jobs in January, which had been the first monthly decline since mid-2003.
“We have no doubt that the trend in claims is upwards and is approaching the levels seen in the earlier stage of the recession in 2001,” said Ian Shepherdson, chief U.S. economist at High Frequency Economics.
The reading for the Conference Board’s index of leading indicators was in line with the 0.3 per cent decline expected by analysts surveyed by Thomson Financial/IFR.
The Conference Board said the leading index has declined 1.5 per cent since August, with eight of its 10 components showing declines.
In the latest month, the biggest negative influences were unemployment insurance claims, building permits, vendor performance and consumer expectations.
The coincident index, which measures current activity, was unchanged for a third consecutive month at 124.9. The lagging index was up 0.2 per cent in February after rising 0.1 per cent in January.
Nothing is done without the PM’s parmission including going to the washroom!
By pjw on 03.20.08 2:08 pm
So, its bad cop, worse cop!
Normally, I would agree. But this is Flaherty who, I think, lives in his own little world, far detached from reality.
I would really like to see him try and explain how, Ontario being the economic driver of Canada (That’s what his boss says) can become a have-not province (That’s what Flaherty says).
The two are mutually exclusive except… if the whole of Canada goes down the tubes under Flaherty and Harper’s watch. So is that what Flaherty really means?
By Bill-Muskoka on 03.20.08 2:49 pm
A dog and pony show? I’m glad she is sincere in wanting help. You would think she would be grateful for all the attention and hard work that is going into helping her. One thing this visit does do is ensure that she does not suffer abuse at the hands of the prison officials.
We have Canadians who are in foreign prisons all over this globe. People do not understand the limitations any government has in dealing with judicial systems of other countries. Some have been locked up for years and years.
A liberal government could not and would not have dealt with the Martin case any differently. If you think they would, you are deluding yourself.
WE have one CND rotting in a Chinese jail without due course that the current government has been trying to help for two years now. I don’t hear much about that one.
How about all these protesters that are being herded into wagons in Tibet by the Chinese army? Do you think any of them will ever see the light of day again? No, most likely they will go on the organ donor registry.
I feel for Ms. Martin just like the rest of you. I don’t think this helps anyone to use her case as a political football as Mr. Dion is so willing to do. He should be working cooperatively with the government on this, not putting out press releases like that one. It doesn’t help anyone. Leasa
By C. B. Innes on 03.20.08 1:01 pm
Hello, C.B.
I agree it will be an “intentionally engineered fiscal collapse”, as western society has now become far too “weak and comfortable”, enmeshed in the present “give me more because I want it” society.
This also follows the concept of doing away with the weak — as animals do — because they are too dependent on others for their well-being — they haven’t learned how simple it is to be self-sufficient.
A good lesson to teach children from an early age, is that the basics of life are pretty much all one needs to live happily.
In 1992, we went to San Diego to visit in-laws, Disneyland etc., for a couple of weeks. San Diego is a very affluent city, with plenty of wealthy people, but also had a crime rate combined with homelessness.
Across the border in Tijuana, it was a different ball game. Plenty of hawkers who bargained their wares, but there was little or no crime, and no one slept outside — there was always a place for someone to sleep.
Those are the folk who will be unaffected by any downturn anywhere, as they don’t have very much to begin with.
*******************************************
Why criticize Mr. Dion for doing his job?
By Larry on 03.19.08 11:08 pm
Precisely, and I have no doubt it is driving harpo and dimjim barmy.
Keep on keeping on — Dion will end up with a minority, and Rome said a change in ad agencies won’t mean much, but it will be a positive start for the Libs.; they can build on that from there.
Whether it makes any difference to the rest of the country is another matter.
****************************************
Tech Support, or . . .
A Canadian customer was calling to find out if there was a faster way to trigger menu commands than mousing up to the menus.
Agent: Certainly, sir. There are keyboard shortcuts for many of those commands. For example, suppose you want to trigger the Select All command…
Caller: Yes, I use that one all the time! How do I do it?
Agent: Well, you just press Control-A.
Caller (after a pause): Well, that’s not working for me.
Agent: Do you have a text document open in front of you?
Caller: Yes, I sure do.
Agent: OK, now press Control-A.
Caller: I am, but nothing happens.
Agent: The text isn’t highlighted?
Caller: No, there’s no change at all.
Agent: That’s odd. If you press Control-A, the whole document should be highlighted. Try it again. Press Control-A. Tell me exactly what’s happening.
Caller (nearing his Canadian breaking point): Listen. I’m pressing Control, eh? And nothing’s happening, eh?
By slg on 03.20.08 12:02 pm
Yes we do want to ‘go back to that’. Love Harris or hate him; he took Ontario from the brink of foreclosure, to where every Harris budget had surpluses and Ontario became the strongest province in this country. One budget under Ernie Eves had a small deficit, due to sars and BSE. It was a flutter, and now Mr. McGuinty is still enjoying the policies put in place by Mr. Harris.
*************
What did you expect a premier to say? — Garth
Exactly my earlier point Garth. He must get passed his ego and start thinking there might be some sound warnings in the criticism that is being directed his way. He has to get back to work, and make some changes.
Leasa
Rick Mercer is Mercerless on Harper’s Cadscam
http://www.youtube.com/watch?v=EuMl_J86zE0&eurl=http://www.liblogs.ca/
I feel for Ms. Martin just like the rest of you. I don’t think this helps anyone to use her case as a political football as Mr. Dion is so willing to do. He should be working cooperatively with the government on this, not putting out press releases like that one. It doesn’t help anyone. Leasa
By Leasa on 03.20.08 4:14 pm
Either does Harper calling Liberals Taliban supporters…but that is how business is conducted by both parties in Ottawa, shame you can only see one side of it!
So, my question to you Garth is. What would a Liberal government do that would prevent what you claim is about to happen which is a recession for Canada? I understand that the Bank of Canada sets the interest rate and the oil prices are set by OPEC and the speculators in the stock market. Personally, I rather am very doubtful that a Liberal government could do anything however, I am willing to listen to what you have to say.
By Van on 03.20.08 3:25 pm
Well, one thing they could do is remain silent concerning the value of the dollar and allow the Bank of Canada to make such statements, having been their broker at one time, that is something that was extemely rare. The Minister of Finance would always say that was the Bank’s business….not his or hers…
By Bill-Muskoka on 03.20.08 12:25 pm
I read this article earlier and was going to post it when I had some time. I think this is yet another clear example of how our self appointed aristocracy spends taxpayers money.
If a significant economic downturn is in the making for our country, it is these types of expenditures that have to go, and quickly.
Now, I thought Mr. Harper’s high praise of Bernard Lord a bit curious also. Mr. Lord might be a fine looking young man and a Tory, but that in no way reflects his abilities. During his watch as Premier of N.B. his government was wholly responsible for the Coleson Cove generating facility debacle, which was an impending environmental disaster. Look up Orimulsion and Coleson Cove if you want to see an environmental crime that was in the making. Oddly, it was the government of Venezuela that canceled the contract to supply the offending material.
Along with the double lane highway project patronage issues, Mr. Lord is also known in some circles in N.B. for having refused to swear allegiance to the Crown when he was to be sworn in as a Barrister. It is a requirement for everyone else, but apparently not so for Mr. Lord, as he was sworn in, in spite of his refusal.
He did manage to appease his principles when it was necessary for him to swear allegiance to be sworn in as Premier though. Curiouser and curiouser.
These wastes of taxpayer money is why I support GST cuts, wholeheartedly. This type of extravagance is what GST and like taxation goes to support.
And then there is the cost of Mr. Lord’s little study. How much was that? Does the Auditor General know? Who is watching the farm anyway????
This is just one more example of the gang swilling from the trough. Why does the likes of Mr. Lord get the goodies funded by taxpayers? Why can’t he get a real job??
The final tally based on his recommendations will be $190,000,000.00 higher than the previous tenure as well. This comes from whom? Is this Conservative finance methodology or a continuance of a Liberal party initiative? Or both?
Oh yes, and the Coleson Cove debacle cost N.B. Power Corp. $350,000,000.00 plus legal and associated costs. Guess whose power rates went up 14% shortly afterward and are due to go up again?
Very interesting video about Brenda Martin at Cherniak.DISGUSTING show by the conservatives.
http://jasoncherniak.blogspot.com/
http://www.youtube.com/watch?v=xkR06AVE-d4&eurl=http://jasoncherniak.blogspot.com/
Garth: You of all people (a real estate bear)should not be surprised, commodity prices needed correction. I am a long Gold bug, but reality is reality, it increased too fast. This has so very little to do with Harper.
Of course not, and you know that’s not what I stated. Rather, current failed Conservative economic policies have left us seriosuly and unecessarily exposed to volatile market conditions. This is a failure of Mr. Harper. — Garth
Love Harris or hate him; he took Ontario from the brink of foreclosure, to where every Harris budget had surpluses and Ontario became the strongest province in this country. One budget under Ernie Eves had a small deficit, due to sars and BSE.
By Leasa on 03.20.08 4:24 pm
Ok. except the small deficit under Eves, was when Flaherty was Finance Minister and, in his reality, he told everyone the budget was balanced.
But if we are to use your logic, we need to go back to the days of Cretien and Martin who took this country from the brink of foreclosures to multiple successive surpluses and paid off billions of our accumulated debt. Surpluses which Mr. Harper is now enjoying and spending.
Do you agree?
Didn’t think so. Likewise, a return to Harris, or his policies, is not on the cards.
Garth, is our small or non existent surplus still alocating billions to paying down our national debt or is there nothing or very little left now and no money that can pay off our debt?
Also I was a big fan of your MPTV. Is there going to be more comeing or has it been cancelled? This was a great way for myself to learn some of the inner workings of our parliament.
Governments have been chipping away at the debt since 1997. It continues. And so will my webcasts. — Garth
Leasa – you want some “real” facts on the Martin case? My riding MP is Rick Norlock. In “MAY 2007″, Paul Macklin, former Liberal MP set up a fund to raise money for Brenda Martin – to try to get her a quality lawyer. No response, no action by Harper/Norlock made Mr. Macklin come out in public in AUGUST 2007. Rather than deal with it, Norlock used the partisan anger snipes. Norlock only tried to look like he was doing something “last week” because of pressure from the people of our riding. That was last week – nearly a year since Macklin first got involved. Norlock stood in QP and read a PM approved statement saying he spoke to Harper the night before – that was “LAST WEEK”.
Norlock does the photo-op stuff at Trenton – oh, yes, he attends 50th anniversaries photo-ops and that just about it.
I live in Northumberland – I know what is going on and how badly Harper has handled this.
Don’t give me this getting lots of help – it was Paul Macklin, Dan McTeague and the citizens of my riding that got them to finally pay attention.
Don’t you dare try to put your views on this because you just don’t know what you are talking about.
Garth, if there are so many people who have the extra cash to pay down their mortgages, why do you think that there will be such a real estate problem here? I agree that we are likely to have a correction (markets never go up forever will some bumps along the way), but it will not be to the same degree as in the US…not by a long shot, unless it is precipitated by large job losses due to recession. But it won’t be caused by the kind of risky lending that took place in the US because it is not at all as prevelant here.
Accelerating mortgage payments does not mean extra cash. It normally means a change in payment frequency, the most common of which is from monthly to weekly. — Garth
Leasa: Hospital closures, people dying in ambulances, pitting teachers against parents, gutting funding for infrastructure: That is the Harris/Eves legacy to Ontario.
Love him??? Not even close.
And Flaherty continues to grind Ontario down. Sour grapes on his part? I think so.
Leasa: It was Paul Martin’s visit to Ms. Martin weeks ago that prompted Harper et al to finally work up some kind of phony empathy for her.
When real Canadians are in trouble send a Liberal, when oil barons, gas magnates and big bankers are in trouble send a Conservative with real Canadians tax dollars.
BULLSH!T ..!!!!!
In response to: By Ted on 03.20.08 5:33 pm … you Garth make the spurious assertion:
Of course not, and you know that’s not what I stated. Rather, current failed Conservative economic policies have left us seriously and unnecessarily exposed to volatile market conditions. This is a failure of Mr. Harper. — Garth
You make pompous, unsubstantiated statements and when challenged you say nothing in your defense as in: By Harry S on 03.20.08 12:23 am .. in which I respond to your related comments.
Then in my posting at: By Harry S on 03.20.08 12:11 pm re:
Garth … Premier McGuinty doesn’t agree with your doom and gloom economic forecast.
‘Don’t panic’ over economy, McGuinty says — The Ottawa Citizen – March 20, 2008
… you blurt out: What did you expect a premier to say? — Garth
………………
Perhaps all this useless gum-beating on your forum is all for naught because now we hear on today’s CBC Newsworld that the Quebec wing of the Liberal party is up in revolt because they are not even close to being prepared for any election and even attempting to unseat the provincial director …!!! Now we hear the CBC political pundits on Don Newman’s Politics program, who are usually chosen to be kind to the Liberals, were admitting that the Quadra and Quebec by-elections were a disaster for the Liberals and in particular, Dion’s leadership.
Adding to that .. Liberal organizers in Quadra determined that the Liberal vote went to the Greens .. which portends a grim situation for the Liberal party in any next election. Meanwhile the Conservative vote is holding steady and perceptively increasing outside of Toronto and Montreal .. and Montreal is now being questioned too.
So all your strident blather amounts to nothing much because it’s becoming apparent that you Liberals with Dion as leader are going for hard fall if you precipitate an early election that nobody wants. Better for Dion to gracefully abdicate, spare Canadians a useless $350M election, and chose a new leader who can effectively communicate with English Canadians and be adequately understood by francophone Quebecers … and prepare for an October 2009 election.
I was shocked to hear such unfavourable comments about the Liberal party and Dion on the CBC today … perhaps the election of Bob Rae had something to do with their change of tone and overtly biased reversal … ya think ..??!!!
(p.s. If you missed the earlier CBC program, you can see it again at 7:30 PM EDST .. with Don Newman’s Politics pundits panel filled mostly with Liberal-biased journalists.)
You done yet? — Garth
Leasa: Are you serious? Two years with only “consular” oversight? Not one visit, call by anyone in the Con government?
They had to be embarrassed by Paul Martin and Dan McTeague to actually feign interest.
I think she was right –the Cons are a little late with the concern.
Every year from 1997 until this year, the federal government ran a surplus. Garth
Since when is a 2.3 billion surplus not considered a surplus. Is this in only the Liberal handbook or are you using creative math to say or imply we have a deficit this year? I would have agreed with you if you had said that we have had obscene surpluses from 1997. Sorry but surpluses in the “teens” of billions is obscene in any rational person’s book.
By James- Chatham on 03.20.08 5:51 pm
Hi James, you are right…I don’t agree of course.
Harris pulled us out of the financial gutter all the while the feds were cutting transfers like there was no tomorrow.
Every year, Harris managed to INCREASE education (contrary to what the union said), yes education funds increased every year under Harris.
Paul Martin on the other hand, balanced the budget by taking the Employment Insurance account and adding the $45 billion dollars every year to the general coffers. He drastically cut all transfers including health. He swiped the CPP account. And above all, the Chretien government did not change one single policy of Brian Mulroney’s.
What Harris did took fiscal genius. What Martin did took a heart of stone and a monkey brain.
Got bananas?
O~ Leasa
Leasa is just like Harris/Eves/Flaherty. Give all the tax breaks to the elite, big profiteers and cut back on hospitals, schools and infrastructure. No thanks!!
Seeing as the last job boon was mostly based in Ontario according to Stats Can, we can thank our lucky stars that the Cons are out of business in Ontario.
Bob R.: The Cons did overtax you–that is why they have a surplus and that is why they are using your overpayment of taxes to pay down the deficit. You are paying for their overspending in other areas.
The Minister of Finance would always say that was the Bank’s business….not his or hers…
By pjw on 03.20.08 4:41 pm
Since when has our current Finance Minister said any different. The only one who seems to be saying that our Finance Minister should interfere with the governor’s business is Garth the finance wizard himself. But he is silent when he is asked how he or the Liberals themselves would handle it if they were in government.
Message from The Great Beyond . . . sooner or later, sheeple will finally arrive at the same conclusion — ObL is a little dead, and will not be returning to take any phone calls. Sorry!
Courtesy whatreallyhappened.com
The msm continually trots out the dead guy to threaten the Pope, only a couple days after Israel announces that “they who must be hated” will strike TWO targets, one inside Israel and one outside.
So, Sunday is Easter. An “Al Qaeda” (nudge nudge wink wink) attack on the Pope, together with a bombing at one of the Christian sites inside Israel, would certainly fire up fanatical Christian support for a new “holy War.”
http://tinyurl.com/24dbhx
I feel for Ms. Martin just like the rest of you. I don’t think this helps anyone to use her case as a political football as Mr. Dion is so willing to do. He should be working cooperatively with the government on this, not putting out press releases like that one. It doesn’t help anyone. Leasa
By Leasa on 03.20.08 4:14 pm
So, in your mind (alleged) it is now Dion’s fault? You are, if nothing else, a consistent DS Harperite. Unfortunately Leasa, it is currently Caesar Disgustus’s responsibility, and he HASN’T GOTTEN IT DONE!
Oh, and you mentioned abuse. Being illegally incarcerated for two years is DAMN ABUSIVE.
Oh, and if you actually read the story yesterday, the Canadian Consulate FAILED to act, and that was also under Harper’s pissant excuse for leadership.
No Leasa, this bag of CRAP belongs to Steve 100% as to Canada’s inaction. The real culprits are the corrupt little assholes in Mexico. What else is new?
By Greg on 03.20.08 4:41 pm
I could not agree more! Well presented!
I still haven’t heard an answer to either question; I agree with you, Garth, on most issues, and am disappointed with the Tories for largely the same reasons that you are, but I fail to see how the Liberals are any better — they’re rolling out new spending announcements constantly (without much of a credible costing provided) and neither Stephane Dion nor any of his front bench are short in the departments of self-righteousness, partisanship or ego. The Tories have moved way too far to the left as they hike spending (but not in any meaningful way), shrink the surplus and cut consumption taxes. A party that is even further to the left is not the answer, as far as I’m concerned.
I’m quite impressed with the new Rudd Labor government in Australia; Kevin Rudd call himself ‘an economic conservative’ at any chance he gets to reassure people that he’s not a Whitlam-style socialist, he’s increased the surplus target by 50%, he’s planning to cut and simplify taxes, and he’s reining in public spending. That’s the sort of government that I want to see, and I haven’t been seeing it from the PM and his Tories. However, I see the Liberals as no better, as they promise further costly programs and embrace zealous political correctness.
The federal government should take control of the health-care & education system, thereby eliminating a great deal of squabbling & unnecessary paper-pusher jobs. A good system of schools and universities is essential to a good economy, but the provinces that are struggling lack the necessary money to fund those systems; it’s becoming a vicious loop. Such a reform will never happen, though — Ontario & Alberta won’t like it, although their voters could be persuaded to support it in a referendum. Quebec would never go for it, though, and no government would want to anger them by even attempting such a change.
If only a political leader actually showed some guts; Stephane Dion has a rubber spine and has behaved like a complete coward on every major issue — without exception — and whenever the PM is able to pluck up some courage the issue blows up in his face and he goes back into hiding (politically speaking). Oh well. I can at least dream, can’t I?
If your spin isn’t rubber, run for office. — Garth
By Judy.Paul Martin’s visit to Ms.Martin weeks ago prompted Harper?Who the hell are you kidding?Martin was the BIGGEST disappointment in recent canadian politics.13 years of stabbing Uncle Jean in the back till he finally got the big chair…only to crash and burn through his constant dithering and bumbling.That man has zero credibility,and I doubt PRIME MINISTER STEPHEN HARPER even pays attention to that clown.As a strong steady leader,he is doing what should be done.Trying to help a citizen that was caught up in a dubious scheme in a foreign country.No one yet has proven she is innocent,although we all know Mexico is rife with corruption.We should all start taking our vacation dollars elsewhere.But I degress.Mr.Dithers did nothing for the poor woman,except get his picture in the paper.His absence in the HofC tells us how much importance he puts in our country after we swiftly booted him from office.
Remember that this sort of thing has happened before; in 2000, the federal surplus was $20 billion, but an economic slowdown combined with too much belt-loosening resulted in a surplus of only $6 or $7 billion the following year. That’s roughly the level of depletion that’s happening now, but I don’t think that a deficit is on the horizon. In 2004, the federal government ran a total surplus of only $1.6 billion (the smallest since the budget went back in the black), and in 2005 predicted that the budget would barely be in balance for four or five years — it didn’t end up happening, and instead there were two surpluses in a row of over $10 billion. The same thing is happening now; the government is predicting that money will be tight for a few years, but next year they’ll announce that the 2008-2009 surplus was actually huge, they’ll brag about what a great job they’ve done, and they’ll dish out some more spending increases and tax cuts in time for the fall election. It’ll be just like Paul Martin and Ralph Goodale used to do it: deliberately forecast a tiny surplus so that you can boast about it when it turns out to be big.
The current situation reminds me of the market downturn of 1987-1988; governments all over the world thought that, like 1929, it was signaling a recession and they loosened their belts (fiscally & monetarily), cutting taxes & increasing spending at unhealthy rates, as well as big interest rate cuts. It turned out that the economy wasn’t headed for a serious crisis, but the actions of governments had over-corrected the situation and inflation rose dramatically, resulting in a sudden interest rate spike — this radical swing back again did help to push the economy over the edge and we all suffered. I think that we’ll all teeter on the edge of recession for a while longer, but as long as nobody splurges on too many big-ticket measures we’ll probably pull through. Of course, economics is so inexact and unpredictable it can hardly deserves to be called a science — I may be completely full of it and the world may be heading for the rocks as we all watch. I just don’t think it’s likely.
In 1987 the American stock market crashed. This time it’s the real economy. You will soon see the difference. — Garth
In reference to your last comment, Garth — and I can’t help but notice that you still haven’t answered my original question — I must admit that I do have ambitions to do that some day. At the moment, though, I’m a university student in one of the most left-leaning ridings in the country. I wouldn’t give much for my chances if I were to give it a go now, but someday I’d very much like to do it. I do help out on campaigns, though; the provincial Grits are going to pick a candidate in my riding in a few weeks, and I’ll be there.
(It was too bad that you couldn’t make it to the AGM in Halifax — I was looking forward to hearing you — and instead we got treated to a largely anti-US diatribe from Carolyn Bennett.)
What Harris did took fiscal genius. What Martin did took a heart of stone and a monkey brain.
Got bananas?
O~ Leasa
By Ms. May on 03.20.08 6:57 pm
I could go into Walkerton and how Harris’s cut backs without the required forethought resulted in what happened up there.
But, here’s one that I had first had experience with, Hospital Restructuring.
The idea was sound, why have identical facilities essentially staffed by the same physicians only a stones throw away from each other?
However, what happened was this. The Hospital Restructuring Commission stated, both hospitals on one site in 18 months.
The first job I had in Canada was facilities manager at a local hospital.
Just renovating a radiology suite took the best part of 9 months to obtain MOH approval. So imagine bringing two facilities together, building and renovation projects, 18 months, not a chance.
But Harris in his infinite wisdom, not, decided he would then fund the combined hospitals as though they were on one site with all the cost savings that would occur, before the MOH had even given approval for the necessary renovations. That’s why nurses and other staff were laid off, why patients were being left in the halls and why waiting times in emergency room were so long; hospital boards had to wrestle with making required renovations while being completely underfunded.
Then I could also point out municipal restructuring. But I’ll leave that to the folks in Toronto, except to say that after his first few experiments, he pulled the plug on the rest.
Yes, the fed Liberals slashed and cut to stop foreclosures on the country, but Harris’s mismanagement was still very quick to slash programs while at the same time slashing taxes.
BTW. Where is Mike Harris now? Is he one of the nameless faces working for the PMO or someother right wing “thick” tank?
Leasa,
The rest of the country , plus the poor woman herself disagree with you .
The cons are full of it and once again look like LIARS and fools.The PM was on the phone with the Mexican President and it Brenda Martin did not come up.
Jailed Canadian calls MPs’ visit a ‘dog-and-pony show’
Mar 20, 2008 08:53 PM
THE CANADIAN PRESS
OTTAWA–A Canadian woman imprisoned in a Mexican jail worries she’s become a political pawn now that her plight has garnered international attention.
A distraught Brenda Martin said today that her meeting this week with Conservative MPs Jason Kenney and Rick Norlock was a stunt to curry public favour back home.
“It was a photo op for them for political gain. And I am not a political pawn, and I don’t care to be a political pawn anymore. My life is at stake,” she said in a telephone interview with The Canadian Press.
“I believe that the dog-and-pony show that showed up here yesterday did it specifically for their own personal, political gain.”
http://www.thestar.com/News/Canada/article/349081
Dion calls on PM to help Canadian in Mexican jail
Mexican president called Harper, may not have discussed Martin’s case
Charles Rusnell, Canwest News Service
Published: Thursday, March 20, 2008
http://www.nationalpost.com/news/story.html?id=389343
You done yet? — Garth
Not by a long shot and you can chew on these bitter facts about Liberal chances in any next election:
1. Dion took responsibility for the Outremont and Quebec byelection debacles, and promised to reorganize the Quebec federal wing. Now we see that Dion has NOT managed Quebec, and he is certainly NOT a credible national leader.
2. It’s acknowledged that the Greens stripped the Liberal Quadra vote as well as the Toronto byelection voting. Dion has provided May with a safe haven in Central Nova and is now pleading that the ‘green’ voters should vote ‘red’ … how pathetic ..!!!
3. Dion now must avoid any election because he is virtually guaranteed a devastating loss. I suppose he and you will declare that you are victorious by denying Harper an election soon. Also pathetic.
4. With the coming recession will Canadians prefer a sociology professor leading the nation .. or an economist who has taken the proper steps to mitigate a recession, i.e. lower taxation and reduce surpluses.
5. If Dion is unable to reorganize the Quebec wing of the federal Liberal party, how can we assume he can manage the federal government??
Dion: Not a manager .. NOT a leader .. and NOT worth the risk ..!!
Did you read that on a milk carton? BTW, Stephen Harper is not an economist. — Garth
Garth,
Hold it….hold it. You said accelerating payments does not equate to having excess cash because it generally means moving from monthly to weekly payments( Something like that).
But essentially that IS the same thing as having extra cash is it not?
As an average canadian income earner, I certainly do not have an extra “month” worth of cash to pay per year. That is what moving from monthly to weekly is.
If people can do that…then they are not REALLY cash strapped sir.
If you can’t come up with one month’s extra mortgage payment a year, in order to save yourself tens of thousands, maybe hundreds of thousands of dollars, then you need to reassess a few things. — Garth
A report on the lack of fresh drinking water worldwide.
In the OK Valley and points north, a “Pineapple Express” is needed, except it would have to come from California.
The Coast Range Mountains break up storms coming directly from the Pacific Ocean, so by the time storms reach us, we get a few showers, and that’s it.
As nice as it is, one cannot drink sunshine.
http://tinyurl.com/32zxqu
****************************************
Thursday’s Wise Words from the Kelowna Daily Courier: –
“A bank is a place that will lend you money if you can prove that you don’t need it.” — Bob Hope
How many banks — and other financial companies — have brought their own demise upon themselves, by virtue of their reckless borrowing / lending vices?
I must admit the CRAP are getting slick.
Have you ever seen more Dippity Do Hair Gel used at the Hill?
BTW, Stephen Harper is not an economist. — Garth
And you’re not a journalist .. and neither is Dion a leader nor a manager … but he does have a ‘Dream Team’ surrounding him.
Beware of the Ides of April, May, June …!!!
. . . Now we see . . .
By Harry S on 03.20.08 9:10 pm
Define “WE”.
Do not include me in any definition you may come up with.
Tricia:
I just heard on the news that Prentice got a thirty-day extension to review the sale of MDS to the American buyer so now we will all have time to let our M.P.’s know, emphatically, that we would consider this sale a sell-out of our military secrets to a foreign country and because we, Canadian taxpayers, have invested over a half a billion dollars in it, we want our investment in a future industry and in the talented employees of MDS to remain absolutely Canadian.
This should be a no-brainer to anyone really interested in Canada as a sovereign country. Mr. Prentice said he would be governed, in his decision, by what the “net benefit” would be to Canada. That could be construed to mean a number of things and Harper is great at construing things!
Keep the faith.
C. B. Innes:
Further to your post on Straussian philosophy, this is a link to anyone who would like to read how Harper became introduced to it:
http://thetyee.ca/Mediacheck/2005/11/29/HarperBush/print.html
Let’s stop beating around the bush about Brenda Martin. If those dumb-assed Mexicans won’t adapt their nation’s laws to suit us, I say declare war on them right now!If they’re too stupid to realize how superior we are then they’re better off being put out of their misery.
Garth,
You dodged. Sorry…but you did.
I am a supporter of yours Garth but the notion that coming up with an an extra mortgage payment should be easy really caught my eye.
If you think it’s easy for an average income earner with two young kids to support to come up with 1200$ NET(after taxes)….than you being a supporter for the middle class is a bit strange in my opinion. Because you don’t get it.
I could break down expenses for you( I keep a journal….I am VERY particular). It’s not that easy.
Even if it were easy Garth….then your argument that average Canadians are cash strapped is WAY off.
Perhaps a measly $1200 is pennies in you eyes Garth, but to average Canadians, it’s a sizable amount(this is not meant to be a slight against you but really, I think you slipped up on this one Garth).
Of course it is not easy. But $1,200 in one year is not a lofty goal for the average middle-class family, when the return is astronomical – paying off a mortgage in just over 12 years, instead of 25 years of payments. If you are that close to the edge, you need to make changes. Otherwise, how will you ever send those kids to college, or pay off your home, or have a retirement income? You need a plan. — Garth
Irene: 03.20.08 11:43 a.m.
I am disappointed in our MSM too. IOt seems they could do much better in revealing what goes on under the radar and make enough of these issues so people will take notice. Scandal, they get. Philosophy is harder to headline.
Layton, to use a metaphor, gave a good pail of milk at one time, but he has kicked it over in a desperately partisan attempt to replace the Liberals as the centrist party.
Duffy, especially, is so tiresomely partisan.His smirky smile and nudge,nudge, wink, wink moderating is stomach-turning. And Jane Taber loves anything titillating–not much depth there!
Someone posted on this blog, the other day, that Chantal Hebert goes out of her way to slag Dion and I’ve noticed this too. I wonder what the history is behind this.
Anyway, it seems to me some of us grass-roots people would do a decent job of getting out the message if we only had a few million dollars to air a few documentaries on the Harper government and the harm they are doing. 30-second clips can’t cover much.
We can donate to our party though. And we can lay it on the line with our M.P.’s. (Mine is Mike Wallace…puppet with a purpose).
It is depressing to think that Harper has won. He has spent the whole wad so the Liberals can’t come up with much to help people in time of trouble–financial, environmental or social. The Cons say. as they take their seats in Q.P., “We’re getting the job done.” Each time I think, “and we’re getting jobbed!”
For the sake of our families and all the poor people who don’t even suspect what their futures hold, we have to fight this fight with whatever honourable ways we can. Canada is being taken over without a shot being fired or even much of a whimper.
Have a happy Easter and then we must seize whatever opportunities we can to make a change.
Someone on this blog, ,
Funny, what comes out when you make a change and then don’t proof-read your message, eh wot?
Bob R. 03.20.08 7:57 a.m.
I was going to write a long piece to answer your post but read the post by Man with Hats. It covers a lot.
Man with Hats:
How do we get this on TV? Do the Cons let you post this kind of thing on their blogs?
Chin up!
Garth,
Thanks for the concern. But I save within an RRSP….I could steal from that.
I save for my girls education within an RESP….I could steal from that.
In 10 years I have never missed a mortgage payment.
We have a paid off 12 year old Honda civic and a lease on a second car( I work 30mins away thus the need for a “beater” car).
Anyway Garth, I am far from being close to the edge. But if you want middle class people to follow a plan of saving within RRSP’s etc, pay property tax, save for children eduction, pay child care expenses, food, keep up with escalating energy costs, repairs and upkeep on a home, cloths etc etc etc….and still chuck in a “spare” $1200 to pay down that mortage faster….then I think you have a skewed view of what it might be like to live on $60,000.
And again, if it’s not a lofty goal for middle class Canadians to locate $1200( NET, then I fail to see how you feel so many are cash strapped.
It just does not make any sense.
Bob: When exactly did Mr. Harper, Ms.Guergis, Mr. Bernier, et al decided to give a rats ass about Canadian Ms. Martin?
AFTER former P.M. Paul Martin visited her.
Your leader doesn’t have an ounce of empathy in his body. And that is frightening.
Another bad P.R. moment for the Cons.
They are a pitiful bunch.
Leasa,
When I read this, I must assume that you are using this definition of genius (the “ill” branch):
If I ignore your absolute reluctance to ever critically question anything emanating from Harper and Harris, I can only conclude that you did not have children in primary school during Harris’ time in government. I did and still do, and I can tell you first hand that there is marked improvement from the time of Mike Harris, ex-gym teacher, versus Dalton McGuinty, husband of elementary school teacher. Under Harris and the same school that we still use, I was asked each year to purchase school supplies and provide several boxes of Kleenex and even hand soap for the washrooms so the kids could wash their hands. Families were asked for a monetary donation at the start of each year, and were constantly engaged in fund raising – bake and craft sales, hot dog and pizza days, used book and toy sales, selling magazine subscriptions and gifts, etc. – to purchase books for the classroom and library. The morale amongst teachers was sad, angry and despairing. Under McGuinty, ALL of that has stopped. It is peaceful. It is as it should be, working in the background and not constantly in your face. It subscribes to what should always be the maxim of Canadian politics: Peace and Good Government.
The good thing about the legacy of Harris is that a generation of Ontarians will not soon forget and will not let anyone that has the remote whiff of him rule this province again. His name is synonymous with persona non grata.
Garth: We needed to cut consumption taxes for three reasons.
1. It helped our retailers with cross border shoppers.
2. It gives consumers the cash in its hand, not the greedy federal government.
3. It eased up on the underground economy, I see it first hand, as I am in the trade sector.
Man with Hats:
How do we get this on TV? Do the Cons let you post this kind of thing on their blogs?
Chin up!
By Pat. G. on 03.20.08 10:31 pm
Dear Pat :
I don’t know I’ve never tried . I find the intellectual level too low for most of the Blogging tories to understand .
I feel more comfortable with Garth and his cadre .
And you’re not a journalist .. and neither is Dion a leader nor a manager … but he does have a ‘Dream Team’ surrounding him.
Beware of the Ides of April, May, June …!!!
By Harry S on 03.20.08 9:33 pm
Harry bashing Dion again…lol….I just love credible sources! A wee bit partisan?
By Dube on 03.20.08 11:13 pm
Hi Dube, Yes I did and still do have a child in the school system. My daughter is 27, my son soon to be 17. So I’ve run the gauntlet under both governments.
Harris increased the ed. budget every year and tried in vain to move the dollars from the bureaucracy to the classroom. More and more got sucked up by the boards and admin. and less and less was available for the classroom. This explains even today with the lack of supplies for schools.
What I liked about Mike’s changes is the fact that he insisted that kids actually learn to read. Wow! I had a nephew who had a highschool diploma, yet could not read a newspaper prior to the election of Mike Harris.
I know several teachers. They told me in private that they actually loved the new curriculum under Mike Harris.
Mr. McGuinty promised smaller class sizes in the first few years of school. Sounds great eh? Did you not notice that there was no great ‘hiring’ of teachers? They simply moved more teachers into the younger grades, and have fewer for grades four and up. In grade four, a teacher can have up to and sometimes above 30 kids to deal with, including special ed. Quite the pony trick eh?
You would be amazed at how much teachers spend today out of their own pockets for their classrooms. They buy everything from art supplies to tissues.
Under Harris we had in our small area two new beautiful schools built.
My son’s tech & manufacturing classes have zero supplies.
Right now we have qualified young teachers who remain without full time jobs for years and years and years. Why? Because the hiring promised by the McGuinty government never happened. Five years and two university degrees and no job.
Just because the union isn’t making noise does not equate to a decent education system. Mr. McGuinty keeps meeting raise in pay at contract time and all is quiet.
Leasa
Leasa
By Ms. May on 03.21.08 7:39 am
So, is it Leasa or Ms. May?
Expertise in farming and education, not to mention all the history of everything in Ontario! McGuinty has been at the helm for how long? The problems began when?
I am no big fan of McGuinty, but he deserves to be treated fairly.
You need a plan. — Garth
By Glen on 03.20.08 10:14 pm
Yes you need a plan. Not being one to harp about Income Trusts, I think I can use this as a good example. Those folks had a plan.
Lot’s of small business owners had a plan, only to have it scuttled by political patronage, grand plans and schemes like NAFTA and GST.
The ever-changing flow of government policies, economic and social, along with technological and workforce changes can have quite the effect on a plan.
The one that cooks my grits is the arrogance of the Feudal Lords who feel it their right, especially in the area of patronage. The reality is they believe their supporters and financiers have a right to be compensated, sometimes royally, no matter how this makes others suffer.
Then there is the small-minded bureaucrat with the big power. The power of bureaucracy. Never admit a mistake, and most likely they will have been promoted before anyone has to answer for the mistakes. If it comes to that. Most give up long before.
The problem with a plan is, most are based on things remaining somewhat constant. They don’t, and that’s not necessarily by accident.
Rick Mercer is Mercerless on Harper’s Cadscam
http://www.youtube.com/watch?v=EuMl_J86zE0&eurl=http://www.liblogs.ca/
By Brent Fullard on 03.20.08 4:29 pm
Mercer nailed it, especially the part about Harper suing the opposition, with our tax dollars. This is absurd at so many levels. What’s happening with that lawsuit anyway?
Garth insists that his erudite doom and gloom is worthy while Mr. Flaherty is irresponsible when he warns on Ontario’s competitiveness and lack of action to address the structural issues it faces. Hmmm.
Me thinks Garth has a messianic complex. No one else knows what Garth knows. He sees all, knows all, and predicts the future fearlessly. He assembles facts as if at a smorgasborg and thinks his cuisine is the only possible outcome.
I could be wrong. But that would be so utterly out of character. — Garth
I did appreciate Mr. Turner taking the time to respond to my query.
The non response to my last entry I hope is because Garth did not read it.
Or is the non response that he did not have an answer?
I have been a supporter of Mr. Turner’s apparent crusade for the middle class. But his notion that moving from monthly to weekly mortgage payments does not reflect “cash flow” is laughable. Almost disturbing.
Makes me seriously question how much true insight Mr. turner has when it comes to the plight of the middle class. I am one to always believe the best in people but when evidence presents to the contrary….I ask questions.
And so far, I think Mr.Turner appears to be motivated more by political agenda then any true understanding of the economic situation faced by millions of middle class.
I’ll always lend my support to someone who at the very least outwardly suggests middle class families need some breaks….but does he truly “get it”?
I’m left wondering after this.
First, this blog is not a personal finance self-help forum. I will add a comment when I believe it is useful, but not answer every question for obvious reasons. Second, I have worked had for middle-class families, and will continue to pursue issues like income-splitting and income tax reform. Third, if you can’t reorganize your life to find 25 bucks a week, then I can’t help you. That’s your job. — Garth
“I know several teachers. They told me in private that they actually loved the new curriculum under Mike Harris.”
Leasa…
I worked in a H.S. during the Harris years and he destroyed the staff and had good teachers who volunteered their own time so annoyed that they withdrew. It was Snobelen, sent by Harris, to destroy the teacher’s union. We had teachers fighting teachers, students being the losers. It could have been done on a negotiation basis but confrontation was their method.
I am certainly no fan of lying McGuinty but Harris was no better.
I am no big fan of McGuinty, but he deserves to be treated fairly.
By Bill-Muskoka on 03.21.08 9:10 am
My dear Billy…you are missing my point. The problems in education began about 30 + years ago, when the boards grew too large and too all consuming in my opinion.
When I give opinion, it is from experience. You have the choice to agree, disagree or ignore me completely, just as that is my choice to do the same with others.
I support our teachers completely. I know how hard they work, the hours they put in and the total commitment they have to our children.
Mr. McGuinty has been at the helm now going on to five years. All he has done is shuffled the deck and moved the problems to other areas. Yes, we have smaller classes in K-3, but the class size has grown in grades 4 and up.
I have said for years, we need to have a clean sweep in education. We need to have a total forensic audit, cut the bureaucracy, hire hundreds more teachers and put the resources back in the classroom. Even Mike Harris didn’t have the courage to go that far and I don’t see any government that will in the future. We spend more in Ontario per student than anywhere in the country, I’d even go so far as to say in N. America.
Well, Bill that is my opinion on education. BTW…I am an expert in my sector of agriculture.
Leasa
Leasa:
Do you deny that Snobelen even said that in order to make the changes in the education system that the conservatives wanted to make, that they would have to create a crisis?
Gosh! You sure are a dyed-in-the-wool Conservative but you are only kidding yourself!
Leasa, you are so full of BS. I am a teacher, this is my 20th year in elementary schools. I lived through the Harris years. He was and still is an incompetent idiot and so were his ministers. Harper is the same as are his ministers. They are an embarrassment to my wonderful country. Why don’t you stick to blogging with other neocons? They will actually believe everything you say as you seem to think you’re an expert on every topic that comes up on Garth’s blog. What exactly is it you do for a living? You have no idea what you are talking about as usual from every post I’ve read of yours. It’s one thing to express an opinion but to pretend you actually know what those years were like for a teacher, oh, and for a parent, as my son was in elementary school at the time is something else. You might be better respected on this blog if you’d just stop being such an arrogant know it all. Patricia
Leasa, are you getting enough attention yet??? That is obviously why you spend so much time BSing on this blog. Patricia
By Pat. G. on 03.21.08 4:11 pm
Read my 3:32 post. Snobelen didn’t go far enough. I agree they went about it the wrong way. They should have just called the forensic audit flat out…then cleaned up the bureaucracy…followed by hiring hundreds more teachers…and put in laws that would ensure that only a certain percentage of all future education spending could go to administration. I’m sure the screams would be heard on the moon. Leasa
By Patricia on 03.21.08 4:16 pm
amen!
It appears “education” is in a perpetual state of “crisis”. Not enough teachers, class sizes of more than 20 kids (When did our teachers lose the ability to handle more than 20 kids effectively?), not enough EAs, etc. I think the system will forever suck up every penny and still say it needs more.
It would be useful to know what Snobelen said before and after the infamous “create a crisis” sound bite.
One of my profs once said that large, bureaucratic organizations don’t normally change of their own accord, until a “crisis” occurs and forces it to. Would this be what he was referring to?
Anyone…?
It appears “education” is in a perpetual state of “crisis”. Not enough teachers, class sizes of more than 20 kids (When did our teachers lose the ability to handle more than 20 kids effectively?), not enough EAs, etc. I think the system will forever suck up every penny and still say it needs more.
By John L on 03.22.08 7:51 am
About the same time as parents stopped backing discipline administered at the school level and allowed their kids to run their homes…
Given the millions of “parents” in Ontario I don’t imagine such a sweeping comment covers even a relative handful of them. On the other hand chopping classes to 20 or less created a “need” for thousands of new teachers at a time when the number of kids is declining by tens of thousands. I’d say it was mostly about Daltie paying off a few political debts.
John L. Another supposed expert on education!!! Wow, try teaching then we’ll talk. Patricia
By John L on 03.22.08 11:15 am
Then I suggest to you John that you sit in on some parents/teacher evenings and listen to the parents responses when their child behaviour is brought to their attention. Have you been in a classroom lately?
By John L on 03.22.08 11:15 am
Oh btw John, I am no supporter of lying McGuinty!
You’re paid to teach so stop whining about how tough it is, although you do sound like the real item
I have no intention of joining in your p#ssing contest here; find someone else to play with.
You’re dismissed.
By John L on 03.22.08 11:15 am
By John L on 03.22.08 1:19 pm
You were quite willing to join it with your first post John…in fact, I think you came in to incite…lol….
You would last about 10 minutes in a classroom, and I am not a teacher, so I am not being paid…except by my pension fund which is not a teacher’s pension.
John L. I’m sorry, were you referring to me when you said to stop whining? Please back up and read my message to Leasa/know it all. At no time was I whining. I’m very good at my profession and I’ve been at it for a long time, through, Bob Rae, Harris the idiot and now McGuinty. I’ll take McGuinty any day of the week. When Leasa has taught for 20 years, or you for that matter then we can sit and have a discussion based on facts and not opinions. That was my point in the first place. Patricia