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| quote: | Originally posted by The Ear
The key determinant of the current economic situation is the freeze up of the overnight money markets and balance of payments systems, aka the credit system, or to use the common vernacular, the credit crunch. The reason we didn't see it as bad as other nations is b/c of the fiscal policy meted out by the administrations in the 1990's. The manufacturing sector fell on it's face b/c it's tied to a malformed & poorly administrated US auto sector and economy dependent on such short term loans and credit. So, in effect, the only thing Harper has done is help bail out American companies that are engaged in Canadian industries dependent upon said involvement. The only reason why the Canadian manufacturing sector is receiving said stimulus is to prevent the hemhorraging created by US leadership, and in effect cowing to those companies' failures.
Therefore, the only thing Harper has done is prolong the inevitable — the eventual collapse of the Ontarian manufacturing and auto sectors, as that is exactly what will happen the day that things turn protectionist in US foreign economic policy, or the day the unions are broken & the big 3 move their operations to Mexico where things can be made for a fraction of the cost thanks to NAFTA. If anything, Whoreper & McGimpy shoud be spending stimulus dollars on policy that re-tools the manufacturing and auto sectors away from cross boarder hyper-dependency.
/policy discussion for me |
Just remember that the other parties formed a coalition in a bid to topple the CPC because they were not going to provide any stimulus to ailing sectors. The CPC merely propped up (in conjunction with the ontario liberals) the US autos, because it had to, or it would have been turfed out of power earlier this year.
I absolutely hated the idea of proping up those losers, but I can see why the CPC did it, to protect their own asses. If they had not provided the stimulus, the liberals and NDP would have, and it probably would have been a lot larger.
PS - pardon me if somebody already said this, some of the rants were long, and I didn't want to sift through them.
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