Stephen Harper guarantees no recession in Canada

[Francesca R]

Pretty bold move . . .

http://www.bloomberg.com/apps/news?pid=20601082&sid=aEE0fC5RZcOg&refer=canada

"This is a close election, it can go either way," Harper said yesterday in Quebec City. "If you don't want a carbon tax, and you don't want tax increases and you don't want a deficit and you don't want a recession, the only way to ensure that is the case is to vote for the Conservative Party"

 

[Gord_in_Toronto]

Pretty bold move . . .

http://www.bloomberg.com/apps/news?pid=20601082&sid=aEE0fC5RZcOg&refer=canada

Don't judge on a single "sound bite". The election here in Canada (we vote tomorrow) has a number of complicated and complicating issues. However, the Global Meltdown is not a major issue by any means. The Canadian banking system has protected the country from the direct effects of the mortgage "backed" securities fiasco in the US but there is a considerable amount of spill over in the economy because of globalization.

Try Googling for "Canadian banking system" on the Web and in Google News to gain understanding of why this is so.

 

[WildCat]

Try Googling for "Canadian banking system" on the Web and in Google News to gain understanding of why this is so.

I'll take a wild guess and say that the Canadian regulators didn't pressure banks to make loans to poor credit risks under the guise of fighting discrimination.

 

[Corsair 115]

I'll take a wild guess and say that the Canadian regulators didn't pressure banks to make loans to poor credit risks under the guise of fighting discrimination.

Banks here are rather heavily regulated (the big five are not permitted to merge, for example). They are also just more financially conservative in their banking practices (as are the citizens who, overall, have considerably lower levels of consumer debt than Americans).

None of this has stopped the banks from making healthy profits, however. Indeed, when the economy was going well, the big five banks routinely posted annual profits in the one billion dollar range.

 

[Madalch]

I don't think he's promising a lack of recession so much as promising that electing for the other guy will result in one. Not so much gutsy as typical- what's a Canadian election without promising that the other guy will tax you to death, take away your guns, give control of the country to the USA, and cause a recession?

And our banks may be among the most stable banks in the world, but I'm not sure that will help us much if the States are in an economic catastrophe, being that our economy is tied so firmly to theirs.

 

[gtc]

I don't think he's promising a lack of recession so much as promising that electing for the other guy will result in one. Not so much gutsy as typical- what's a Canadian election without promising that the other guy will tax you to death, take away your guns, give control of the country to the USA, and cause a recession?

And our banks may be among the most stable banks in the world, but I'm not sure that will help us much if the States are in an economic catastrophe, being that our economy is tied so firmly to theirs.

Same in Australia*. Afterwards, when the government does have to raise taxes or explain away a recession they pretend they mean that things would have been worse if the opposition was elected.

*Except they pretty much did take away the guns.

 

[Damien Evans]

Same in Australia*. Afterwards, when the government does have to raise taxes or explain away a recession they pretend they mean that things would have been worse if the opposition was elected.

*Except they pretty much did take away the guns.

Just to be clear on this point, that was pretty much a bipartisan idea.

 

[blobru]

standings at|CON|LIB|BLQ|NDP|GRN|OTH|vacant
DISSOLUTION|127|95|48|30|1|3|4
PREDICTIONS|131|89|51|35|0|2|-

So barring a centrist stampede to the Grit banner (and I think thanksgiving's market cornucopia nixed that) or somesuch, looks like there'll be a shift of about a dozen seats out of 308.

God, we're boring. (beauty flag though, eh?)

 

[Madalch]

God, we're boring.

If I wanted exciting, I'd move to Rwanda.

(beauty flag though, eh?)

Very. Particularly when it's made in accordance to the official dimensions, instead of a cheap knock-off that's 3 x 5.

 

[blobru]

If I wanted exciting, I'd move to Rwanda.

(even the flag's too exciting -- looks like a pack of jujubes)

Very. Particularly when it's made in accordance to the official dimensions, instead of a cheap knock-off that's 3 x 5.

right u r, red...

http://www.mymanmitt.com/mitt-romney/uploaded_images/canadian-flag-773872.jpg

 

[stilicho]

(even the flag's too exciting -- looks like a pack of jujubes)



right u r, red...

http://www.mymanmitt.com/mitt-romney/uploaded_images/canadian-flag-773872.jpg

Vexillologists generally agree that our flag ranks among the Top 10 or so. The US flag is generally thought of as "too busy"--sort of an emblem of the violation of the rule of three.

Watching the returns now, it's interesting that early ones suggest that the polls might have been wrong by up to 4%--certainly in Corsair's neck of the woods.

 

[Walter Wayne]

Looks like the "we won't tax and we won't spend" message is working somewhat. Harper's currently 5 seats ahead of the Ekos research final seat projection.

Walt

ETA: I know the message was "we won't tax, we won't spend and there will not be a recession", but I think most canadians mentally edited out that last bit.

 

[blobru]

standings @|CON|LIB|BLQ|NDP|GRN|OTH|vacant
DISSOLUTION |127|95|48|30|1|3|4
POLLS CLOSED|143|77|49|37|0|2|-

Ho-hum. Another Tory-NDP coalition gov't (not so bad).

Harper's Tories had a decent shot at a majority, the eleventh hour market recovery seeming to reaffirm the status quo. He's still seen as an outsider east of Ontario, though; the 'arts' gaffe just the latest in a long line.

Almost certainly Liberals will dump Dion for Ignatieff or Rae (or Trudeau jr?) Wonder if there's a deal to offer E_May a seat asap in return for a party merger: the Green Grits? Eventually, they'll have to to compete, imo.

... Watching the returns now, it's interesting that early ones suggest that the polls might have been wrong by up to 4%--certainly in Corsair's neck of the woods.

Montreal environs?

Looks like the "we won't tax and we won't spend" message is working somewhat. Harper's currently 5 seats ahead of the Ekos research final seat projection. ...

ETA: I know the message was "we won't tax, we won't spend and there will not be a recession", but I think most canadians mentally edited out that last bit.

"Vote for us and we'll cross our fingers" trumps "here come the green thumb."

 

[Corsair 115]

[Almost certainly Liberals will dump Dion for Ignatieff or Rae (or Trudeau jr?)...

I hope not the bracketed fellow. Can't stand him. If there was ever a case of someone living off his daddy's name, Justin Trudeau is it.

Montreal environs?

416 area, Parkdale-High Park specifically. The incumbent NDP candidate (Peggy Nash) was unseated in favour of Liberal Gerrard Kennedy in one of the more high profile races.

 

[stilicho]

standings @|CON|LIB|BLQ|NDP|GRN|OTH|vacant
DISSOLUTION |127|95|48|30|1|3|4
POLLS CLOSED|143|77|49|37|0|2|-

Montreal environs?

I thought it was all Toronto environs once you get east of The Soo but it's probably just my perspective.

Very low turnout too. No issues.

I still so very much despise that smirking buffoon Peter Mansbridge. "Maybe Harper will have his leadership position challenged." "Big disappointment for the Conservatives in Quebec." Stuff like that all night. And as much as I like Rick Mercer, he's a flippin' comedian. (So is Rex Murphy but only in an unintentional way). And what was it with that cantankerous bilingual transsexual? (I can only presume s/he was a transsexual.)

Big fail, again, as always, for CBC's abhorrent election "coverage".

 

[gtc]

What happened with the NDP candidate who was linked to the truthers? I forget her name.

 

[Horatius]

So, it's been most of a day now, and still no recession?
















I guess he was right!

 

[Fitter]

What happened with the NDP candidate who was linked to the truthers? I forget her name.

Bev Collins was defeated in Cariboo-Prince George.

 

[blobru]

I hope not the bracketed fellow. Can't stand him. If there was ever a case of someone living off his daddy's name, Justin Trudeau is it.

Brief's skimpy... which is why my mom's in love with him.

416 area, Parkdale-High Park specifically. The incumbent NDP candidate (Peggy Nash) was unseated in favour of Liberal Gerrard Kennedy in one of the more high profile races.

Oh, didn't even notice your username. (I was thinking the airliner that flies in & out of PET (Dorval) alot.)

I thought it was all Toronto environs once you get east of The Soo but it's probably just my perspective. ...

T.O.'s perspective west of The Soo too.

 

[Francesca R]

Jim Flaherty says that Canada has the soundest banks in the world, but that the state needs to bail them out anyway because everyone else is doing that.

This sounds a bit odd. I guess the truth is that they will look relatively unsound to lenders compared with banks in countries where bank debts have been guaranteed. The hubris meter is twitching a bit though.