Monday, September 15, 2008

Harper Unfazed by Market Crisis

The headline really says it all. TSX and DOW both down OVER 500 points, but he's not fazed? Just what does faze Stephen Harper? I guess just like he didn't seem to care about the millions of dollars in savings that were lost because people believed his income trust promise, it doesn't faze him when other regular Canadians see their savings go up in smoke as many of them may have experienced today. Someone who isn't fazed by this is NOT the steady hand we need for these troubled economic times. “U.S. experts were ominously calling the events its worst financial crisis since the 1929 crash which ushered in the Great Depression.” And Harper is not fazed? His economic credibility is in tatters. There are obviously serious warning signals on the horizon and Harper's approach is "don''t worry, trust me things will be fine." Well Mr. Harper your word is worth so little these days and you've shown terrible economic management so Canadians have zero reason to trust you to manage the economy any longer. Harper has no plan for the economy or to deal with the challenges ahead so he deceives (even when his own government reports contradict him), spins, and scare mongers about his opponents non-stop.

Enough. Canada needs a NEW Prime Minister, Harpernomics isn't working for regular Canadians.

The Liberals gave us the best economy we've ever had and Harper has utterly squandered what he was given, so we need to remind Canadians that WE are the ones best equipped to manage the economy. This ad out today is definitely a good start.

Good to see others like the message too: here, here, here, and here

Recommend this Post


JimBobby said...

Economic trouble was predicted and predictable. Harper called the election, in part, to get it over with before the brown stuff hit the fan. Too bad about his luck. Now, he's covering his ears and putting lipstick on the pig. It won't work.

Interestingly, it was speculated that Dion's crew sat o their hands because they knew economic trouble was due and wanted to wait until it arrived before going to the polls. The economies bad fortune may turn into Liberal good fortune.


tedhsu said...


Actually, I'd say I am unfazed by the stock market drops. It's good for the truth to come out and some of the truth about the financial condition of the US financial sector was revealed over the weekend. The more you hide the truth, the bigger it's going to bite you in the future.

What Harper should be fazed about is what problems haven't been revealed. Are more financial companies close to failing? How big is the systemic risk in the financial system? What is going to be the effect of the latest news on corporate investment, earnings, and jobs down the road? Are there any hidden problems with Canadian banks?

Is this going to affect the election? Yes I think so, but it's not clear who it's going to help. It's possible Harper will use the market turmoil to his advantage (by using scare tactics). I think Dion can help himself, if there is a market event with the potential of generating panic, by playing prime minister and re-assuring Canadians with the fact that Canadian financial institutions have pretty sound balance sheets compared to some of their US counterparts, the Canadian government's balance sheet is stronger than the US government's, and the Canadian currency is relatively strong. Previous Liberal governments can take a little credit for these. After all, George Bush has had 7.5 years to do damage to the US economy while Stephen Harper has only had 2.5 years.