Friday, June 22, 2012

Stephen Harper and the Economic Meltdown

Oh no. How embarrassing. Just a few days ago he made a spectacular entrance at the G20 Summit, declaring that the whole world should follow Canada's economic model.

Because he's a real economist eh?

But tonight he's riding the burro backwards, as all around him the model crumbles. 

The latest economic measures paint a picture of a global recovery that has slowed to an alarming degree, and raise fears that commodity prices have further to fall, setting the stage for more volatility ahead – particularly for Canada’s commodity-sensitive benchmark index.

The stock market is tanking because the Cons put all our economic eggs in one oily barrel. The Governor of the Bank says our debt-fuelled economy is running on fumes.

“Our economy cannot … depend indefinitely on debt-fuelled household expenditures, particularly in an environment of modest income growth,” he said in notes of the speech released in Ottawa.

After doing nothing to seriously discourage Canadians from getting into hock up to their necks.

So much for the stability of our banking system.

And so much for little Jimbo Flaherty's attempts to deflate the housing bubble.

“We believe that these measures are coming too late and that the housing market and household debt are already over-stretched,” Charles St-Arnaud, an economist at Nomura Securities International Inc., said in a research note. “Moreover, changes to the amortization period have the risk of providing a very powerful negative dynamic in a housing market that is already showing signs of slowing.”

Too little, too late.

But that's the Cons eh? They never see it coming, they don't know what they're doing. Because the only thing they are interested in is destroying government, and turning Canada into a repressive right-wing petro-state.

The good news is most Canadians won't be fooled again. Nobody will ever believe that Stephen Harper is a real economist. And once the Cons lose their fraudulent reputation as good money managers it's all OVER.

The bad news is that we may be going into a brutal recession, and the Cons are destroying the safety net.

Con times are hard times.

The nightmare is only beginning...

Watch out for the Big Bad Wolf.

Who fooled so many...

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Kev said...

Hi Simon, As a devotee of neo-liberalism Harper's actions have been entirely predictable, sadly the only thing more predictable are the ruinous consequences of those actions

While it is vital that we rid ourselves of Harper we mustn't lose sight of the fact that neo-liberalism will endure beyond his tenure and in the end is our true enemy.

Merely changing parties and PMs will not bring about the required change (see McGuinty) We need a new system and a new way of thinking. We have the power to do so,it's time for us to exercise that power.

Kirbycairo said...

@ Kev - What I find remarkable is that liberals and conservatives alike (everywhere, not just in Canada) have embraced neo-liberalism and that are always at pains to suggest that the only alternative is an ultra-radical socialism or something. An yet, just a concerted effort on the part of many countries to return to some more sane form of Capitalism would probably be enough (at least for now) to significantly return us to a more stable and progressively prosperous future. It is funny, it used to be the left that said we can't have capitalism with a human face while the right said we could. Now its the right that says we can't bother to even try to have capitalism with a human side. In the long run (as it always seems to be) the very people who are benefiting most from the system are going to be the ones that kill it.

@ Simon - It is amazing that anyone still thinks Harper has any credibility on the economy. This is the guy who said publicly that no recession was coming when everyone in the country knew it was coming. Even if it was just spin on his part, you'd think that would have been enough for people to lose any faith they might have in the economic abilities of this guy.

mizdarlin said...

I sincerely hope that you are right about the Canadian voters not getting fooled again, but somehow, experience makes me doubt it..all one has to do is look at the provincial ploitics of places like, oh, say, BC, to realize that voters have short memories, and the past will be repeated here, ad nauseum..
The so called Liberals, after wiping us out for their right-wing agenda, will finally be broken in the next election, with the NDP inheriting their economic mess, and being later castigated (by the ones who really caused it) for not doing enough for the economy, and people will believe them, and the NDP will go down in flames, etc etc. Sound familiar?
And so it seems to always's hoping we will break some bad habits in the voting booth in 2015, if we are still in a position to even vote once Emperor Steve is through with us...

Simon said...

hi Kev...I agree with everything you say. I wanted to add something about how our corrupt system encourages people to get into debt, and then punishes them for it, but I ran out of space. And you're right, the battle for a better world will not end when the Con regime is finally defeated. But in the meantime, watching Stephen Harper being exposed as a fraud gives me the strength I need to continue... ;)

Simon said...

hi kirbycairo...I don't think anything has frustrated me as much as the way the Harperites have been able to fool so many Canadians into thinking they are good money managers. When in fact Harper would have de-regulated the banks, didn't see the recession coming, had to be forced to stimulate the economy, did a lousy job of that, and is now pursuing policies that will make us even more vulnerable to a global recession.
Unfortunately in this country too many people were fooled, and now we're all going to pay for it.
But the good news is that hopefully now more Canadians will finally realize that the emperor has no clothes...

Simon said...

hi mizdarlin...I understand how you feel. As I said too many Canadians have let themselves be fooled for far too long. They have been willing to let Harper get away with murder because he promised not to raise taxes, even though that's just part of his plan to destroy government and turn our country into an unregulated jungle. But hopefully now that they see where he is leading this country economically they will finally wake up and do what is necessary to defeat the Cons and give us back our country...

Anonymous said...

Please don't say BC people have short memories. Ex BC Liberal Premier Gordon Campbell, twice lied to be re-elected. When politicians use lies, deceit, dirty tactics, dirty politics and, cheating to win is permissible. What can we do about it? Campbell forgot to tell the BC people, he was working for Harper. We BC citizens, remember every dirty rotten thing, Harper and Campbell did to BC. Campbell's theft and corrupt sale of our BC Railroad....we are still fighting to get Campbell in prison, as well as all the other corrupt lot of them. We haven't forgot about Harper and Campbell's treachery, of forcing the illegal HST onto the BC citizens either.

Tell me, how do we get rid of Harper then? He is no different than his partner in crime Campbell. Just try and get rid of that s.o.b. Harper.

William Corbett of Elections Canada, suddenly resigned. Harper installed his, good old boy Yves Corte in Corbett's place. Harper has desperately tried to quash, the robo-call cheat election fraud investigation. What do you think Harper's odds are, of quashing the robo-call cheat investigation?

Harper is appointing two new Conservative judges. The Etioboke Center election, was declared null and void. What are the odds, one of Harper's new judges, will hear Moritz' appeal?

The BC Liberals, still work for Harper. The BC Conservatives, support Harper's Enbridge pipeline. The BC citizen's have to battle, Harper and his Conservatives, the Campbell/Clark BC Liberals, the BC Conservatives and big business. BC is a province where everything of value, has been thieved and sold. We haven't stopped fighting, one single day. BC citizens are 80$ supporting the stop the atrocities of the Enbridge pipeline and the dirty tar tankers, that will destroy the F.N. food sources. The F.N. people and the BC citizens, have fought this on our own, with no support from anyone. Don't think Spiteful Stevie, hasn't struck the BC people many times, because he has.

The NDP have now stepped up to the plate, and have taken a stance against the Enbridge pipeline. The BC NDP will most certainly win the next election.

I feel sorry for what ever party takes over this province. Everything in BC has been thieved and sold. There is nothing left to recover with.

Anonymous said...

You guys should read this book by a Swiss historian, when you do you realize the secret war never ended, it merely shape shifted. Stephen is a general in this global secret war. Daniele Ganser is the historian, I read it and came to the conclusion that the brit's invented terrorism and the american's were their best pupil.

"NATO's Secret Armies: Operation GLADIO and Terrorism in Western Europe,"

Here is a general google search, have at it: