The elephant in the room: Nobody really has the answer
Canadians would love nothing more than to hear a party leader put forward an iron-clad way for our country to avoid the economic carnage that is happening south of our border.
Sadly, there is no such perfect plan. It does not exist because we are in uncharted territory.
So all the voter can do is weigh the options and put a lot of trust into whichever platform they end up selecting.
But a having a ‘plan’ doesn’t necessarily ensure that it will work. We only have to look at the situation in Europe to see that there are no simple solutions.
All we can really hope for is that whoever ends up leading the country doesn’t make things worse. That is why I am concerned about the thought of Stephane Dion becoming Prime Minister.
People are worried about their stock portfolios - especially the wave of Baby Boomers nearing retirement. Then when Stephane Dion starts musing about taking away income splitting for pensioners, and a Liberal MP has to quickly recant, seniors have cause for concern. Who is telling the truth?
If Dion had to find more tax money for his social programs, would he ever consider revoking the pension splitting in the future?
And what about that carbon tax ? Dion points to Europe as an example of how well being green merges with economic policy, but as Lorrie Goldstein points out today, Europe really shouldn’t be used as the poster child. It just isn’t working.
But election hopefuls are trying to pretend that they have all the answers, when in reality nobody truly knows how Canada will fare over the next several months, and what policies are necessary to cushion the blow. Some experts even suggest that running a deficit might be a reasonable plan in an emergency situation, but that we are not in any immediate danger right now.
So it all boils down to trust and competence.
Who are you willing to put your money on? The economist or the professor?
* * * *
Related: Wudrick Blog - The No-Plan Part ll
Canadian Business - It’s the economy.
The Record - Market turmoil has stress levels on the rise.
Globe - Where did all my money go? (Margaret Wente.) Great comment by ‘General Wolfe’ following Wente’s column:
General Wolfe from Wolfe Island, Canada writes: Don’t worry, you’ve just suffered unrealized losses of your unrealized gains. Somehow if you think of it that way it doesn’t seem so bad.
* * * *
Update - Harper: Tories will act on banks if needed. (Globe)
Jonathan Chevreau - Live Q & A (Financial Post)
CBC - Financial crisis hows wealth a ‘house built on sand’: Pope.
October 6th, 2008 at 9:13 am
It gets so frustrating when they say the polls are going down for the Conservatives. We are very fortunate to have an economist running our Country at this time, if people would just realize this.
Just wish the people of Toronto would wake up and for once vote for the economy and let the Professor return to teaching.
October 6th, 2008 at 9:33 am
My mind was made up a long time ago as to who I would be voting for this election. PMSH has been doing a stellar job running this country while putting up with the assinine antics of the loony left.
I don’t need more taxes and I don’t need more government intervention in my life.
I’ll choose the person who is the most qualified, most dignified, and most easily related to of the bunch.
In actuality, I will be voting for the candidate in my riding who is running for the party headed by my choice to be Prime Minister.
It would be nice if we could have a seperate vote for who to lead the country and who should represent us in Ottawa but our form of government makes that impossible. In my case, I would still be voting for the same local representative this time, but there have been times I would have liked to make a different choice.
Maybe it’s time to explore changing to our having an Executive branch as well as a Legilative branch of the government. (Might be a topic for another posting)
October 6th, 2008 at 9:35 am
Sorry, Legislative . . . . dang spall chekar
October 6th, 2008 at 9:36 am
Why didn’t Harper counter the environment attacks with information like this during the debates? It’s not anything new as I’ve been reading about the European problems for weeks now.
As as aside. Did the Prime Minister just minutes ago finish up a live news conference about the economy?
I caught part of it on CBC but they cut away when he was asked about senate reform. I switched to CTV but they had nothing so I checked CPAC (always a last resort because their audio is almost non-existant on all the tv’s in my household) and they were showing it.
If it was live, and I’m assuming it was, then I’m floored that the other two national stations wouldn’t broadcast it.
Aren’t we all concerned about what is happening to the south of us and how it affects Canada?
Don’t we all want to hear what the Prime Minister of Canada has to say about the Scotia Bank news release suggesting that Canada is about to go into recession?
Are these stations that partisan that they’d not carry such a news conference?
NeilD
October 6th, 2008 at 9:37 am
It is interesting that everyone is screaming for the government to tell us their “plan” for the economy. Have they all forgotten that last year - at the time of the mini budget - the government announced this slowdown and that the cupboard would be bare for a while.
I left this post at Wudrick’s blog and because I don’t feel like typing and pasting and cutting, I have repeated it here. Maybe we need to get the word out - (not that the media or the opposition are interested in hearing it) or acknowledging that they are late to the party and the government HAS actually been “doing something” for the last year.
Remember that fall budget last year - it was - if everyone would just remember - a response to the upcoming economic slowdown that the Tories predicted would be happening.
So all the cries of do something should turn and look at the current government who has actually “done something”
Here are some “forecasts” made well before the economic slowdown train left the station
from CTV Tues Feb 26 2008
“Federal budget forecasts big economic slowdown”
from Free Republic
“Conservatives announce tax cuts (Canada - mini budget speech)
Canadian Press via Sun Media ^ | 2007-10-30 | Julian Beltrame ” where the finance minister said
“But there are lurking threats to Canada’s prosperity, the finance minister warned.
There is some slackening in Canada’s exports, a sagging U.S. economy due to a collapse in the American housing market and a challenge to Canada’s manufacturing sector because of the rapid rise of the Canadian dollar. ”
Perhaps those interested in seeing what plans are ALREADY implemented should go here
http://www.fin.gc.ca/access/ecfisce.html
I will assume that the media and the opposition have no interest in checking any of these out - because that would point out the lies they have been spreading to the Canadian people
October 6th, 2008 at 9:39 am
“If it was live, and I’m assuming it was, then I’m floored that the other two national stations wouldn’t broadcast it.”
And that Neil, is the problem in a nutshell. PMSH HAS been reassuring Canadians - the media in this country are not interested in covering it because it doesn’t fit their agenda - that being - get rid of Stephen Harper because he won’t talk to us.
October 6th, 2008 at 9:40 am
Harper’s dead-on in his message re: the economy. The experts that have been dragged on to talk shows and tv spots all say the same thing. We’re doing ok and we just need to be prudent and steady and take some care in the immediate future.
Ironically in my town, where just last Tuesday Volvo announced it was moving to a non-unionized Pennsylvania plant, the message of hope being delivered by our municipal leaders here, by the Chamber of Commerce, and BIA, and neighbouring municipalities, is also Stephen Harper’s message. It’s not the fear and despair message Dion, or Layton are pitching.
Oh, and by the way, Harper is also right in something that he said in one of the debates about Canadians not being in the same boat as the Americans and worrying about losing their homes etc.
Sure, like my town we have pockets of folks in turmoil at the moment. Our whole town’s worried, BUT,
at a social gathering in my town this weekend I spoke with several Volvo employees who saw this move coming and planned ahead for it….saved their money and hunkered down, spent less so they could get through it.
Surprise!! Even in my town folks are using their heads about this.
Message to Stephen Harper!! My riding is currently held by gun-toting, hard right Liberal Paul Steckle, if you show up here this week you’ll be guaranteed a win.
October 6th, 2008 at 9:52 am
Although it seems the monetary crunch comes from the US, it’s end effect is worldwide as the economic engine of the planet is still the USA. Europe has been sputtering for the last decade and this could well be it’s final blow before an acute recession (I will keep the word “depression” out by counting(hoping?) on the fact that systems have better regulatory and insurance apparatus than pre WWII). Canada is not immune to a slowdown (Recession) but in a lot better shape vis-a-vis it’s monetary institutions; although it worries me our own banks lending money to other banks in trouble around the world.
A slowdown/recession has been artificially kept in check for at least the last 20 years with insessant reductions in interest rates and a combined effort in the real estate markets where banks and investment institutions and many citizens have been speculating and putting their investments to grow instead of manufacturing and commodities market(Stock exchange) because of the period for those markets moving to Asian/Chinese/India for higher profits/cheaper consumer goods demand.
Socialism which made way to greed is what is killing us all and it might now be too late. Do some research on the banks meltdown because of the subprime market and you will find that it was under the Carter administration that the trouble originated (30 years ago!) for “social justice”: Giving mortgages to risky borrowers (The poorer class). This social justice was further pushed and the floodgate opened wide under the Clinton admin.
California, the most socialist state of the US is now broke and needs a bailout otherwise Government jobs might be at risk…I say let them fall. It is time for Governments around the free world to start shedding and reducing their size. There is simply too much of it and it’s killing us all.
October 6th, 2008 at 9:59 am
What has been done:
Last week the Bank of Canada injected $20 Billion into the banking system, so as our banks can lend out money to people and businesses.
That way, exporting companies can borrow money to stay afloat, while their US customers secure enough credit to pay their bills.
The US bailout will take months to get credit circulating again. With the BoC injection, our exporters can wait it out.
The only other thing our government could do is set up some sort of guarantee fund for Cdn export businesses.
Where, once exporters have supplied the goods, the gov’t garantees their receivables. feasible????
The evil oil & gas industry will save our butts from devastation.
Many of the drilling projects about to be undertaken this winter are actually filling paid for commitments.
October 6th, 2008 at 10:21 am
Blue Sweater, that’s such a good description of my MP Paul Steckle. He really is a gun-toting Liberal and always was more Conservative than Liberal.
October 6th, 2008 at 10:41 am
When I heard that Mr. Liberal Craig Oliver was travelling with PM Harper this week on the campaign trail I became very worried. From all appearances so far, he is in lock step with BOB Rae . I quess he will bash Harper until BOB says enough. For we all know the game is for Dion to loose in this election by just enough for Bob Rae to take over. The MSM is playing a dangerous game here. Will Craig Oliver over play the message and elect a Dion minority government. Craig Oliver and CTV do not care about the wellbeing of Canadians and the economic survival of our country. Their mission is to please Bob Rae and the Liberal party.
October 6th, 2008 at 10:56 am
“Their mission is to please Bob Rae and the Liberal party.”
Are you telling us that CTVGLOBEMEDIA is owned or partly owned by Paul Desmarais’s Power Corp? NO!?
October 6th, 2008 at 11:16 am
I saw Harper on CPAC answering a question from Fife about the comments from Scotia Bank. PMSH answered him and had a long response about the economy and the pesimistic remarks from Scotia bank etc. I switced the channel and neither CBC or CTV were covering his news conference. Saw Julie Van Dusen reporting on it with pictures UPCLOSE and at a side angle of Harper(non flattering) and a few sentences. It was more of her comments than the PM’s. She wanted to talk more about..”HIS BUBBLE HAS BURST”…and repeating words out of the mouth of Duceppe.
CBC spends more time on the Listeriosis story. They had a big coberage from DON DRUMMAND just now.
As far as income splitting…I heard PMSH ask Dion in the English debate if he supported it and Dion said”We have better tax cuts.” NOW McCallum on Goldhawk said..”WE SUPPORT INCOME TRUSTS”. Whatever gets the votes…the Liberal way. Remember the RED BOOK?
October 6th, 2008 at 11:54 am
Anyone seen this website before? Another ABC campaign.
October 6th, 2008 at 12:26 pm
I think Julie VanDussen is leading a CBC ABC plan also. She was just doing a report on PMSH going to Quebec today and her comment was…Harper in Quebec? Well poles report that he can ” KISS HIS CONSERVATIVE MAJORITY GOODBYE”. Nice huh?
CBC showed coverage of Layton as long as he was bashing Harper and talking Bush & Big oil…then when the reporters were really nailing him on what HE WOULD DO they cut it off. He looked like a bumbling idiot. He has no sensible answer…just the BLAME GAME. Noticed CTV covered it almost intirely.
Oh…there’s Liberal Don Drummond on AGAIN.
CBC & CTV & MEDIA are really out with blazing guns.
I feel sorry for PMSH having to deal with this sorry state of affairs. LIES, SMEARS, GOTTCHA….Nancy Wilson is pathetic..with her leading questions and assumptions all in favor of the Liberals.
October 6th, 2008 at 1:19 pm
But election hopefuls are trying to pretend that they have all the answers, when in reality nobody truly knows how Canada will fare over the next several months, and what policies are necessary to cushion the blow
I seem to recall that it was Jack Layton that suggested that the leaders of the parties have a meeting to talk about the crises …I can also recall that it was PMSH that said there was no need …whats up now?
October 6th, 2008 at 1:56 pm
a meeting with Jack Layton? whats the point? Nobody needs to hear “George Bush” or “big oil” being the cause of all the worlds problems fifty more times
October 6th, 2008 at 2:07 pm
I missed the PM’s press conference this morning, which was apparently quite early, so went looking for it on the CTV videos. Nothing. Turned on Newsnet and caught about 10 seconds of Harper announcing indexing the Child Care cash, and then about a minute or more of Layton ranting about US-style melt-downs, etc. The headline at the bottom was about the economy tanking.
Then I read Neil D’s piece about the press conference on CBC being cut short when the PM started discussing the economy, and nothing on CTV.
Is this a new media policy to completely shut down the PM ? Sure looks like there is a deliberate change from the last three weeks coverage. The only consolation I can take from it is that this is desperation personified, and things must therefore be better for the Tories than the polls are reporting, particularly in Quebec.
For instance, does anyone take Nanos’s Quebec numbers seriously ? Conservatives at 16, and the Liberals at 28 . Gabby from Quebec, any thoughts on the ground ?
October 6th, 2008 at 3:20 pm
Layton is busy with giving Punjabi official language status…his thoughts on the economy when pressed by reporters was the IBM charges and Dion wants to make Canada “FUN AGAIN”.
Now CBC is on the DOOM & GLOOOOM and Listeriousis and how bad HARPER is….scary bad Harper. Layton can’t get off the sweater …it’s “UNRAVELING”…and Bush & Big Oil and the kitchen table not the board room table..Bla Bla Bla…Now he’s back on him being the PRIME MINISTER..LMAO..guess Dion is tanking again.??
Now CBC is saying Pesident Bush’s brother is a DRUG LORD…???
OUT OF CONTROL media and Liberals and the rest of the pack means only one thing…Harper is in majority territory?
October 6th, 2008 at 3:22 pm
Then we have Thane Benett from Sun Media saying…Dog owners are better leaders and Poiticians with cats tend to be more “ALOOF”.
October 6th, 2008 at 3:27 pm
Joanne, I just sent you an e-mail regarding something I have uncovered regarding a high-profile figure and plagiarism. Please look it over. Thanks
October 6th, 2008 at 3:40 pm
WHOOPS….make that President Karzia’s brother…he said it’s just political smears…LOL
Layton is on again…full coverage by CBC. He is really going STRONG on Harper bashing and the economy and job loses across the country and savings and pensions and mortgages….oh the sweater is unraveling. Time to throw Stephen Harper out. If you pull one thread the whole sweater unravels.
Now he’s quoting from the GLOBE & MAIL.
Click.
October 6th, 2008 at 3:57 pm
Thanks, Paul. Just replied.
October 6th, 2008 at 4:14 pm
And notice Nancy is wearing a red sweater vest.
October 6th, 2008 at 4:31 pm
What we have today folks is more proof that the MSM is driving this election and last time I checked no one voted for them.
Perhaps, a vote for Harper is also a vote against shabby journalism and biased reporting? Nothing folks hate more than being taken for idiots and played like fools by the media.
The spin is rather nauseating from the CTV - really, really bad!!! I’ve stopped listening or watching the CBC long ago, so saved myself that headache.
October 6th, 2008 at 4:46 pm
The National Press Gallery is in a war against Stephen Harper. They don’t care about qaulity of life for Canadians. They just care about winning the war.They do not care about Canada at all just their own petty grudges.
October 6th, 2008 at 4:48 pm
Trusty Tory will have a post up shortly in regards to what I have Uncovered. Feel free to do so as well Joanne.
I’ve contacted Stephen Taylor and Steve Janke with the information, and encourage all Blogging Tories to get this story out so that the MSM is forced to cover it.
October 6th, 2008 at 4:49 pm
I do believe that you are 100% correct Fay. I also believe that this election is the best proof positive of the kind of bias journalism that wouldn’t be tolerated anyplace else.
October 6th, 2008 at 4:57 pm
Polls are even stupider than economists trying to predict the future. Do these people expect me to believe the Tories are down below their core support (36%) having done nothing wrong and done well in the debate… while the liberals magically went from 21% to 30% doing nothing right; when Dion was terrible in the debate (I watched all four painful hours) and Dion’s big plan is to propose a huge new tax on all forms of heating fuel and transportation for trucks that will affect everything under the sun (including food!) in a time of global economic recession? Yeah right! They also say no change for the NDP and based on their performance I know they’ve gone up (Layton did well in the debate). These are based on this ridiculous “rolling” polls that only do 400 people a night for the whole nation! They expect to get an accurate look from that? Absolute bull. The percent error is so high for these polls there is no point bothering. In addition it’s only the people who answer the phone and don’t hang up when they hear “we’d like you to take a 20 minute survey.” It’s not random at all. Forget the polls. On my street I have some people who used to have liberal lawn signs that they’ve taken down. One guy a few houses down from me took his off his lawn and put it in his garbage pile. There are more and more blue signs in my riding (some more orange too). I live in liberaltown (Dartmouth N.S.) and the liberal incumbent (Mike Savage) has held this riding for years. I see way more blue signs than two years ago and way fewer red ones.
Nobody knows what will happen next week but I know I am very worried about the economy. If the Tories don’t get a majority we are in deep freaking trouble and I will be scared; because in these circumstances a minority would barely last 2 months. I know the other parties would be trying to pass some stupid take hike on business (hi Layton) or worse; blocking vital legislation in the Senate. Then there is the whole crime issue but even I admit I’m so worried about the economy that even crime has fallen off my radar.
October 6th, 2008 at 5:02 pm
By the way have you seen the new Tory ad last night? I was driving home Sunday thinking about the economy and how frightened I am of more uncertainty if we get a minority; and soon after getting home I saw the ad. It’s great and it’s a positive one; I’m happy to see they’ve stayed away from negative ads. It’s Stephen Harper talking about how we need certainty and stability and the last thing we need is reckless new tax initiatives or spending schemes. I’m actually quite impressed because it’s like they read my mind. It was exactly what I wanted to hear. In this ad he’s wearing a suit since certain bullies are relentless about the sweater… God I hope Canada shows those so called journalists that we the people choose our government NOT THEM!!!). It’s not on the website. Anyone have a link?
October 6th, 2008 at 5:03 pm
Steve Janke is the first out of the gate with what I found. Trusty Tory should have his post up in a few minutes. Do explain Stephane.
http://stevejanke.com/archives/274965.php
October 6th, 2008 at 5:06 pm
I should make a correction: I’m happy they’ve stayed positive in their ads. There are a few factually correct “gambling” adds that can be called negative; but as long as there are no attack ads it’s still taking the high road.
October 6th, 2008 at 5:30 pm
Thanks, Paul!
October 6th, 2008 at 5:31 pm
paulsstuff Says:
October 6th, 2008 at 5:03 pm
Steve Janke is the first out of the gate with what I found. Trusty Tory should have his post up in a few minutes. Do explain Stephane
I am sure as a politician he would be able to come up with some sort of a explanation …
October 6th, 2008 at 5:36 pm
Paul, has anyone contacted NNW yet?
October 6th, 2008 at 6:07 pm
Did anyone see J. Belavance on MDL a just now? As far as the slippage in the polls for the CPC, especially in Quebec he said that a lot of conservatives are being quiet right now and not telling pollsters they are voting CPC. Just like the Provincial election, when the ADQ was a little down and ended up with about 5or6% higher on election day. He also said that many are poll fatigued and just not answering at all. J B thinks that there is still time for the CPC to turn things around.
Graham Richardson said that in Ontario that the 905 area still looks pretty promising for the CPC to pick up seats.
They also talked about a new book out by Paul Martin and how he pummles Chretien in it. There apparently is still an on going feud in the Liberal family eventhough they want to portray unity.
October 6th, 2008 at 6:11 pm
Oh, BTW, a little reason to feel a little more optimistic now.
Anyone who is religious pray and pray hard. I am. We still can pull it off. A larger minority or a small majority.
October 6th, 2008 at 7:46 pm
Bloggers matter. As evidenced in this thread. Keep up the great work.
The Finance Minister has put out a statement and PMSH has been addressing things all day to various media. We can help make a difference and may even change someone’s vote. I noticed the Preston Manning article just after my suppertime and good to see that Joanne was already on it. Sandy from Crux-of-the-Matter reminds us of earlier voting days and Trusty Tory puts a personal touch, street level view, on mortgages and how he is feeling economically.
Go PMSH Go…we still have time to go up in numbers.
I do really believe people are keeping their votes quiet. I do not see a lot of lawn signs out. People do not want to take flack…I agree with frmgrl…I watched MDL too–
October 6th, 2008 at 8:53 pm
Small Dead Animals has captured another Dion copycat moment.
October 6th, 2008 at 8:53 pm
I was yelling at the TV on MDL late edition when the journalists were on there telling us that Harper has not done anything on the economy and is just now today starting to say he is worried.
Bull Sh*t!!!!!
“http://www.canada.com/globaltv/national/story.html?id=f5ec9cef-6654-4acc-9164-9e468011b18e”
How can the media blatantly lie like this. Then they sit around and wonder why Stephen Harpers numbers are down. Maybe because it is all liberal all the time, how can the liberals get their mo-jo back, how can they win, will the book by Paul M. hurt them - on and on and on and on. They maybe mention Stephen Harper’s policies once - but then right back to the liberal.
I am sick of it and wrote Mike Duffy with the link of Harper actually doing something about the economy way back when the media were wondering why he was being so pessimistic.
It doesn’t matter how many economists come on and say we are in good shape, we don’t need new taxes - it is right back to the same old same old.
I am so p-od right now.