Friday, July 24, 2009

Some 'Big' Recession, Eh?


Not in Harper's Conservative Canada.

And Liberal Leader Michael Ignatieff was DEAD WRONG to irresponsibly fearmonger that our economy was in as dire straits as any other. See, Ignatieff was wrong, and he proved that he doesn't know what he's talking about, unlike Harper, who's actually a trained economist and understood what was going on.

Worse, Ignatieff actually indicated that he was considering demanding a second "stimulus" budget! What kind of imbecile is Michael Ignatieff, anyway?

See, Conservative Prime Minister Stephen Harper was right all along, right from the get-go in the televised election debates, that Canada was well-prepared to weather the global "great depression" thanks to his policies, especially the tax cuts... and we now see that he was right.

I knew all along that the perceived need for billions and billions of dollars in deficit-financed "stimulus" spending was all a big propaganda scam perpetuated by the Left and the Old Media in the name of socialism.

And the Harper Conservatives knew that, too, as they intially indicated that there wouldn't need to be any monster Keynesian government-intervention plan, which isn't doing anything for America, who's haemmorhaging millions of jobs despite all the multibilliondollar corporate bailouts and many other billions being blown all over the place on all kinds of pork (literally; oink, oink). Socialist Obamerica is an economic basket case compared to Conservative Canada.

But what choice did the Conservatives have? They faced an unwanted-by-Canadians overthrow by the Socialist Three Stooges Triangle for not being crazy Obama-copycats.

If the Socialists had overthrown the government in a coup, just imagine what they'd have done to ratchet up the deficit way further and what they'd have done to deepen and prolong the recession, not to mention the devastating social reengineering they'd impose fast and furious with their supermajority in Parliament and their desire to march in lockstep with Herr Fuhrer Obama.

Now that the need for "stimulus" is proven to be a pile of road apples, how about pressuring the government to cancel as much of it that they can? It's our money, after all, and we have every damned right to demand that they reverse course and slash, chop, topple the projected massive deficit IMMEDIATELY. It's far easier to cancel an unnecessary deficit than to spend the whole thing.

Cancel the deficit!

Save the hard work we did on paying down the debt over the years!

(...) If consumers and businesses are already responding positively to economic conditions, including low-interest rates, the economy probably could be allowed to recover on its own without creating future tax burdens that will depress future growth.

The new official version of the state of the economy, whatever is really happening, raises many issues. If growth is quickly returning, either we've had a remarkable turnaround brought on by Big Government, or the economic crisis was never heading for depression in the first place.

I say that we were never heading, domestically, for recession, in the first place. The problem was external, and we caught a bit of the rain and wind on the edges of the storm, but, hey, look, we weathered it well. In fact, in a couple of provinces, formerly basket cases, Saskatchewan and New Brunswick, there was no recession at all and they actually added jobs! Myself, I saw business at work actually boom, and the company continue to expand!

It won't even go down in history as The Great Recession. Based on the Bank of Canada's latest forecast, the 2009 recession trough -- happening right now -- will have dragged Canada's official "output gap" to 4.3% below capacity, and it will have recovered from the trough within about 10 quarters. In 1991, the output gap hit a trough of 3.8%, and stayed down for 14 quarters. Eric Lascelles, chief economics strategist at TD Securities, provided these numbers, and he said he's surprised by how they show that the 2009 recession looks no worse than the 1991 recession. It might even be better than 1991.

It's clearly better than 1991. I recall 1990-1991 very well, having already begun my economic-and-political-awareness education by then and saw the deleterious consequences of the recession back then. This recent one, in my neck of the woods, didn't have any noticeable impact at all, save for many Old-Media-inspired irrational fears of the worst.

Like the saying goes...


As for the hopelessly clueless Liberal "Leader" Michael Ignatieff, seen below in Toronto having a gay old time and celebrating his socialist idol, Trudeau, I guess it's back to Harvard... Maybe Obama will appoint the famous descendant of Russian royalty as Czar of something...

Too bad for Iggy he didn't get lucky. Or did he? With plenty of other "gay"-looking fellows walking around with him, you don't suppose he did? At least he looks happy amongst those lovely folks, doesn't he?

Below: You're not afraid of a little pussy, are you, Iggy?