Day Nine:
On the side of the country’s busiest highway, on a morning when financial Armageddon threatened to wash over, we stood and waved signs about taxes and the middle class at passing cars.
This did nothing to stem losses on the markets, but it was not without meaning. As hundreds of vehicles passed, full of commuters about to enter the gridlock of the 401 at 7 am, people honked, waved and smiled. At least, in the split second they saw us on the eastbound ramp, it may have given them hope.
And that was the point. We have a paucity of it. The middle class is under siege, and the people who run this country right now are simply making the hole wider, deeper and more impossible to scramble out of. We need change. Badly. Soon.
The carnage on Wall Street breathlessly reported on car radios will not be contained at the border, of course. As Lehman Brothers and Merrill Lynch join Fannie and Freddie and Bear Stearns, a credit crisis of global proportions is brewing. It may have been born in lousy lending practices, greed, junk securities and Flip-This-House excess, but it’s now the stuff of Main Street.
Here’s what’s coming: Increased qualifications for mortgages, and sharply lower real estate values. I forecast this over a year ago, and pressed Finance Minister Jim Flaherty to acknowledge the danger, and act. He did not. Now it’s here.
Today the country’s realtors revealed that the average house price in Canada fell 5% last month from a year ago, the third monthly decline. That may not sound like much, and it isn’t. But it’s on it’s way to 15%, which is a hell of a lot – $90,000 on a Vancouver bungalow and $60,000 on homes lining the Burlington street I canvassed this afternoon. For recent young buyers sucked in by zero-down and Mr. Flaherty’s toxic 40-year mortgages, this is a disaster. They will owe more than they own.
The crash on Wall Street – just the latest in a stack of falling dominoes – means a longer, sharper American recession. This impacts us, of course, especially when the government has done so many wrong things. Income tax cuts should have replaced the GST cuts. Record government spending should have been reined in. Our high-dollar policy should have been trashed. Help to the auto sector should have come before it was on its knees. Family finances should have been helped with income-splitting and tax-deductible RESPs.
Instead of offering any hope today, all the prime minister could do was mutter platitudes and then start attacking Dion. This was little assurance as RRSPs were melting away, and post-hurricane gas prices were emptying wallets. Surely after being in control of the country for three years, he could have done more than attack the opposition leader.
If nothing else, he might have pledged to do better, if he gets another mandate. Stop telling people to avoid investing in Ontario. Reverse the disastrous investment-robbing income trust decision. Better regulate the mortgage industry so people without money don’t buy homes. Cut income taxes and at least give lip service to the plight of the middle class. Stand behind Canadian corporations and jobs.
After all, this is just the start. But Mr. Harper knows that – it’s the reason we’re at the polls now, rather than in October 2009. He wants this election behind him, well before those commuters in their minivans and crossovers discover their homes can’t sell and their retirement funds laid an egg.
By standing on the side of the road, which I will do many more times, I am giving a signal that hope is possible and the status quo is not. I’m telling my constituents, should they send me back to Ottawa, they can expect my fight for income-splitting, better child care, income tax cuts, mortgage reform and sane spending to continue.
Without a vibrant and hopeful middle class, Mr. Harper can turn the lights out when he leaves.
Unless he leaves first.
35 comments ↓
the middle class was under attack when trudeau came in. most older people tell me it was pearson that started it.
libs pretending to be looking out for average canadians is a sick joke. the cons are not much better. both are killing the golden goose. it is called globalism and that is why both parties have sold us down the river! that is the bottom line.
“sharply lower real estate values’?
Does that mean the prices will decline from the wild runup we’ve been seeing the last little while to something where they’re more in line with incomes. As a general rule there should be a link between what houses cost and what workers earn so I’d say the Liberals shouldn’t come out as advocating anything that’d discourage housing prices finding a more appropriate level. You’re not saying the Liberals are advocates of inflated real estate are you, Garth?
Another Harper Lie
http://www.liberal.ca/story_14592_e.aspx
Harper claims National Citizens Coalition was self-owned and operated “business”
Stephen Harper pointed to his own experience of “running a business” as an example of the need to allow self-employed Canadians to voluntarily pay to receive access to Employment Insurance.
“You know, I’m from a household where before I got back into politics, both my wife and I were running small businesses. I was running, I suppose better to say a medium-sized business, and she was running a small business, and we’re aware of these difficulties.” (Stephen Harper, CTV NewsNet, September 15, 2008)
I cannot believe this man. He has got to be a sociopath to blatantly lie like that. Absolutely no conscience. The NCC is a rather secretive organization started to stop our universal health care so just guess what else it is about. –Not caring for Canadians for sure.
Here are some descriptions of sociopath
Contemptuous of those who seek to understand them
Does not perceive that anything is wrong with them
Authoritarian
Secretive
Paranoid
Only rarely in difficulty with the law, but seeks out situations where their tyrannical behavior will be tolerated, condoned, or admired
Conventional appearance
Goal of enslavement of their victim(s)
Exercises despotic control over every aspect of the victim’s life
Has an emotional need to justify their crimes and therefore needs their victim’s affirmation (respect, gratitude and love)
Ultimate goal is the creation of a willing victim
Incapable of real human attachment to another
Unable to feel remorse or guilt
Extreme narcissism and grandiose
May state readily that their goal is to rule the world
I seem to remember Harper had all the pictures of previous PM’s removed from a room in the House and replaced them with photos of him.–grandiose? I could go on with matching up some of these characteristics with Harper.
Teck Cominco Ltd. says its $14-billion US bid to buy the Fording Canadian Coal Trust is still on and set to close at the end of October despite speculation to the contrary that caused Fording units to plummet Monday.
More fallout from the Income Trust fiasco. Just remember folks who will have to pick up the tax slack due to these off shore sell outs.
Does that mean the prices will decline from the wild runup we’ve been seeing the last little while to something where they’re more in line with incomes.
By Simon on 09.15.08 10:40 pm
That is an incredible amount of arrogance. Your flippant remarks can`t even be compared with every event we come closer to a global depression or WW3.
“Does that mean the prices will decline from the wild runup”
We wouldn`t have had the wild runup without the 40/0, now we`ve got hundreds of thousands of homeowners saddled with bankruptcy or a 40 year debt that might take 20 years to break even or be paid off before housing reached the levels we`ve just seen. That`s what the numbers say.
All this was evident when it was created and yet a minority government passed it.
So when Harpo blows this electon who will be the new CON candidate to replace him? Back room talk from out West says that some influential people are ready to start a revolt if nothing changes after this election….
I really think we are sliding into another depression. I just sold my home, and we are renting for the next while, and I stuck a good portion of my money in Gold and Silver. At least I know Gold and Silver doesn’t go to zero.
“Regulation to reduce greenhouse gases and air pollutants will inevitably come at a cost–and those costs will be borne, at least in part, by individual Canadians and their families.” (Source: ‘Manageable costs’, Conservative government’s EcoACTION policy manual, April 26th, 2007.)
It is a slippery and fast slide to fascism. Think about it the next time you are “taken down” for a parking violation.
Every psychopath has his own magazine these days. Sixty years ago, my father crossed and ocean to fight and defeat people who think like the Neo Con Party.
Evidently, we are now about to welcome them to “do what’s best for Canada” because we’re better off with Harper”
fnord
“. . . We need change. Badly. Soon.”
There is no doubt that Canada needs change, and we may get change, although it won’t be the kind of change anyone expects.
Has anyone ever really thought of why harpo called an election? There must be a clear-cut reason, and so far, I haven’t seen this possibility discussed.
Parliament certainly wasn’t dysfunctional — I seem to recall MPs were just about at the end of their summer holidays when all this mumbo-jumbo talk began.
Consider a ‘false flag’ on the US; it is not carried out by terrorists, but an economic tsunami, the likes of which has now spread world-wide, and we are only a little into this monster of a wave.
This allows dubya to stay where he is, powers to suspend the US election, declare martial law and because we are in the throes of an election when there shouldn’t have been one, harpo would follow his mentor to a T, and impose the same upon us.
Cdn. citizens would have no choice but to watch CRAP destroy our country, so it may end up being merged with the US.
After all, dubya has absoutely nothing to lose by this, as well as starting wars across the globe and blaming others, such as Russia.
Just a thought for the night.
Is that Esther holding the “Save Middle Class” sign … and you in the red jacket with the “Cut Income Tax” sign ???
You know you could be hauled away by the OPP for creating a dangerous distraction standing on the shoulder of a ramp to the 401 … so watch out and don’t attempt that again.
Standing by the side of a road mightn’t be all that great an idea. The only casualties I care to see is H. and Co.
Sedum
Bonnie L was “spot on” for accuracy in describing PMSH by using the defining characteristics of a sociopath. Every Canadian should read that list before voting for him … or for any of his minions deployed to the constituencies.
A trip down memory lane:
“Notice how when bad economic news or just other bad news for the Conservatives happens, one of the following instantly follows:
-Blame previous Liberal government.
-Harper railling about high gas prices when in opposition; then when PM, telling everyone to “get used to it”.
-?Ignore basic economic principles and issue misinformation about downturn.
-?Cherry pick talking points that are clearly wrong when seen in their full context.
-?Have private press conferences for select media.
-?Simply refuse to talk.
BY STEPHEN SMITH 04.29.08
[April]Nearly 6 months since that observation, and three years in power..
No progress, no plan, nothing but broken promises, spending like drunken sailors, massacred social programs, muzzled MPs and a vast blanket of non-stop lies.
Courtesy of Harper & his Constant Con Machine. Had enough of them?
Newfoundland Premier Danny Williams’ newly launched Anything But Conservative website.
http://anythingbutconservative.ca/
You’ve got to applaud Danny Williams for this excellent and impressive effort!
A premier with the balls to tell it like it is!
Here’s hoping it has the intended effect – countrywide!
You’re getting very bad press in French – and getting misquoted again.
http://blogues.cyberpresse.ca/journet/?p=69#comment-231
Way to go Garth—who else would stand by the side of the road & wave signs to give us hope.
Thank God someone will do it.
Dr Mike Popovich–former life-long Conservative.
May I suggest that all income trust investors, and indeed everyone else, send an e-mail or letter to Premier Danny Williams, praising him for his efforts in regards to his new Anything But Conservative website.
http://anythingbutconservative.ca/
See sample e-mail/letter below.
———————————–
September 16, 2008
Dear Mr. Danny Williams:
I would just like to offer my personal gratitude to you and your government of Newfoundland and Labrador for this excellent and impressive effort.
Please forgive the blatant accolades, but you are truly one of a kind and the only Canadian premier with the mettle to tell it like it is.
As a fellow Canadian from Ontario who has also been a victim of one of Stephen Harper’s broken promises – specifically the one concerning income trusts – I soundly applaud and wholeheartedly support your determination concerning this matter.
Here’s hoping it has the intended effect – countrywide!
Many regards and thank you.
Sincerely,
Robert Gibbs
If nothing else, he might have pledged to do better, if he gets another mandate. – Garth
That’s the problem with the Harper government. In the world of Harpernomics, the mediocrity of the economy and the incompetance of Ministers, namely Baird, Flaherty and Lunn to name three, are seen as good.
By James- Chatham on 09.16.08 7:20 am,
Harper, at this point, has no where to go but denial of the economic situation. The Bush Administration has put the U.S. into a financial situation, through tax cuts and out of control spending, that they are incapable of cushioning the blow for the American public.
Harper does not want to admit that he has been moving in the same direction by removing the ability of government to cushion the blow. We were in a much better position to cushion an economic downturn before Harper drained the surplus with ineffective tax cuts and increased spending.
Our only advantage that we have over the U.S. is that we have not had eight years of the Harper agenda as they have had in the U.S. He would never admit that.
Governments may not be able to do much to affect the economic downturn once it has taken place (they could have taken steps to prevent them from being so extreme) but they could have been prepared to cushion the blow for those most negatively impacted.
Interesting comment on CTV after article with Baird saying that the Green Shift plan will be good for the Oil sands.
John
To: What happened to Canadians?
I don’t really see what the problem is with the Green Shift plan. I’m on board with you. If I pollute I should pay. If I continue to support polluters by buying their products, I should pay and they should pay. If I reduce pollution I should be rewarded. Many Canadians many not embrace the Green Shift plan now, but we’ll have a plan similiar to it whatever party is in power whether we agree or not. Such a plan will be essential in a few years and Canadians will have no choice but to live with it. Energy conscience companies is where the economic wealth will migrate. My investments are already moved to stocks in these companies and there are big bucks to be made while doing good for our envirnoment. I don’t see where Green shift is going to do anything but help me and the envirnoment. If anyone reads the plan I don’t really see how they could be against it. However, if you listen to the politicians for your opinions you’ll go merrily along in ignorant bliss.
No offense but how do you and your colleagues intend to save middle class when you’re all upper class? Maybe if an MPs salary was around $50,000 a year instead of $150,000 you’d have a better idea of what to do.
I’m not saying you won’t have any good ideas but I think everyone in parliament would have a better idea if they were living through the problems. It kind of sucks when not-so-average people are supposed to represent average people.
If you want liberals back in office campaign with the promise that all liberal MPs will take a 66% pay cut if elected.. I’ll vote for Liberal if you do that.
Has anyone ever really thought of why harpo called an election? There must be a clear-cut reason, and so far, I haven’t seen this possibility discussed.
By Charles Oxley on 09.16.08 1:26 am
Charles, google 2012, which will be the next election year for Canada and the US.
ps: I’m not an end-timer but I suspect we have MP’s that fit the description. I’ll leave it at that.
If you want liberals back in office campaign with the promise that all liberal MPs will take a 66% pay cut if elected.. I’ll vote for Liberal if you do that.
By Dan on 09.16.08 11:11 am
You must be very upset to have learned that the PC prov gov’t of stelmach gave all MLA’s a $50,000 raise.
The decision was made within hours of it being recommended. WE the public never had a chance to question the raise.
No offense but how do you and your colleagues intend to save middle class when you’re all upper class? Maybe if an MPs salary was around $50,000 a year instead of $150,000 you’d have a better idea of what to do.
I’m not saying you won’t have any good ideas but I think everyone in parliament would have a better idea if they were living through the problems. It kind of sucks when not-so-average people are supposed to represent average people.
If you want liberals back in office campaign with the promise that all liberal MPs will take a 66% pay cut if elected.. I’ll vote for Liberal if you do that.
By Dan on 09.16.08 11:11 am
Are you giving the CON ARTISTS or the NDP’s or the blocs or the Greens the same ultimatum Dan? I am curious.
Cheers,
Interesting comment on CTV after article with Baird saying that the Green Shift plan will be good for the Oil sands.
John
By Bonnie L on 09.16.08 9:25 am
Baird is right. You won’t reduce emissions without a cap so how are the Liberals going to live up to the Kyoto protocol if they get back in office? Collect 25 billion a year from Canadians and industry and buy carbon offsets abroad?
So when Harpo blows this electon who will be the new CON candidate to replace him? Back room talk from out West says that some influential people are ready to start a revolt if nothing changes after this election
BY SMOKINGJOE 15.08 11:32 PM
Voters in Anders Calgary West riding are dazed. Hopefully that translates into enough brave & sharp souls to strategically vote him out. Even if voted out though, he’ll show up again, like Bob, in the movie What About Bob.
If you want liberals back in office campaign with the promise that all liberal MPs will take a 66% pay cut if elected.. I’ll vote for Liberal if you do that.
By Dan on 09.16.08 11:11 am,
Of course, you would not expect the elitist Conservatives to do the same.
Most MPs earn the money they make.
No offense but how do you and your colleagues intend to save middle class when you’re all upper class? Maybe if an MPs salary was around $50,000 a year instead of $150,000 you’d have a better idea of what to do.
By Dan on 09.16.08 11:11 am,
What is your definition of “middle class” and “upper class”?
I believe Statscan broke it down in 2005 as the bottom third of households had an income of up to $35,000/year, the middle of $35,000-$69,999 and the top third of $70,000 plus.
No idea what that’d translate into today but that’s a ballpark breakdown according to Statscan.
So when Harpo blows this electon who will be the new CON candidate to replace him? Back room talk from out West says that some influential people are ready to start a revolt if nothing changes after this election….
By Smokingjoe on 09.15.08 11:32 p
I saw one TV commentary several weeks ago that Jim Prentice is the one they are grooming to be the next Regressive Preservative leader.
..allows dubya to stay where he is, powers to suspend the US election, declare martial law and because we are in the throes of an election when there shouldn’t have been one, harpo would follow his mentor to a T, and impose the same..
Just a thought for the night.
BY CHARLES OXLEY ON 09.16.08 1:26 AM
Charles,
Your entire post is well thought out as usual, very interesting, and quite plausible under the circumstances, even a little too likely. The closely knit networks of the Neo Con Parties both sides of the border has successfully disguised a fringe element that took over both the Republicans and the Progressive Conservatives, and they intend to serve the military industrials and keep themselves in power in any way they can. Too bad the general population still fantasizes that the neocons could possibly say anything truthful.
Hope all is well with you.
Are you giving the CON ARTISTS or the NDP’s or the blocs or the Greens the same ultimatum Dan? I am curious.
Cheers,
By Irene on 09.16.08 1:24 pm
Damn straigth!
I also realize that many MPs (such as Garth) earn every penny they make since they work around the clock. Other MPs have a staff to talk to the people and just kind of sit in the background until the next election. My MP never answers my emails and I have absolutely no clue what it is he actually does.
To answer another question, I believe a middle class family has an income of around $40,000 – $70,000 per year. Upper class would be above that. At least that’s what I got from a little google search
Are you god??
You must be because you (and apparently only you) know what is best for me. Thank you for showing me the way to bliss and harmony under the liberal banner of inclusion and fairness. Oh wait that is what a conservative is…I am so confused…..
Give me a break Garth.
Bless you. — Garth