Friday, October 03, 2008

"Panic"= Recognizing Reality And Acting

It's frankly one of the most absurd arguments I've heard in a long time, but it's really a testament to nothingness and deflection. Since when is outlining a plan to deal with fast changing economic circumstance an indication of "panic"? We've just seen two separate days this week, which showed the BIGGEST drops in stock market history, economic veterans with 30 years experience saying they've never seen anything like it. An American problem? No, actually I was referring to OUR stock market, our savings, our liquidity, people's investments, trivial matters of capital and profit.

Things are happening so quickly, OUR own Scotiabank has now uttered the R word for Canada, predicting that will we be in recession. That's not news to any of us in central Canada, and much of that has little to do with the past week, in fact we've seen erosion for MONTHS. Maybe an added factor, potash is in the tank, analysts are now predicting the party is over in Saskatchewan, expect a major housing market correction. Yes, yes, good news everywhere, the fundamentals are strong.

It's is debatable how much influence government can have on the economy, but no one disputes that the tenor of said government can really influence consumer confidence. When faced with a crisis, it is imperative that people have the impression that all oars are in the water, the government focused like a laser beam, doing everything in it's power to mitigate the damage. That, in a nutshell, is what leadership is all about... well, except in Canada apparently. No, in Canada, if a person outlines an action plan to bring together all our top minds, economic and political, to develop a coherent path forward, it's called "panic", it's a flip flop or some other asinine characterization.

And yet? The same character, who all week repeatedly told us all is well, now suddenly has a PLATFORM. Presto, it just appears and the nation will be better for it, a steady hand at the helm. Hypocrisy, double speak, intellectually dishonest, you name it, that's our Conservative government. Sounds to me like somebody is reacting to events on the ground, or more correctly somebody is in damage control mode.

How any rational person can criticize Dion for denoting the seriousness, for advocating swift response, is more a testament to their own partisan nonsense, than any fair judgement on the wisdom. When the populus is worried, they want a sense that you RECOGNIZE REALITY AND ARE ACTING, they don't want the "fundamentals are strong", don't worry, particularly when we can all see that those pillars are wobbling by the DAY.

The only panic I see, the Conservatives scrambling to cobble together a couple tertiary ideas for the sudden platform. A little behind the curve, don't you think?


ottlib said...

I cannot argue with you Steve.

It is a testament to the silliness of the politics in this country that the guy who is not reacting to the current economic situation is receiving good press while the guy who is receives bricks.

Anyway, if Dalton McGuinty ever wanted to help out his Federal brothers here would be a good opportunity.

All he would have to say is "I would welcome a first ministers meeting on the economy, regardless of who is the Prime Minister". Or at least something to that effect.

He could endorse the idea without endorsing a particular political party.

Frankly, I believe it is a good idea. Too often in this country we have different levels of government pulling in different directions so a meeting to coordinate a response to the current economic troubles would be a welcome change.

The Mound of Sound said...

Government can only exert a limited influence on the economy but it can do a great deal to protect its people from the harshest consequences of a rough landing. Of course that means having financial reserves which Harpo has whittled away through his GST cuts. Paul Martin was right when he called our so-called economist and prime minister "clueless."

Acknowledging what is happening - today - here in Canada - would invite scrutiny of when the government ought to have foreseen this and what measures it might have taken to cushion the blow for the Canadian people.

Harper ought to have foreseen this a year ago, back when Angela Merkel was sounding alarms and yet he has done absolutely nothing to prepare us for it.

Acknowledging reality would be a damning admission of incompetence. Hence an election without issues.


Gayle said...

Yeah, but everything here in Alberta is just tickety-boo, so why should the Harper party care about you losers?


WC Macdonell said...

You obviously don't invest money... if you did, you realize that the wishy washiness of Dion doesn't instill a great deal of confidence.

Harper is steady, and that's what the market likes to see.

Hearing a guy like Layton literally sends chills up the spine of your average investor or market.

Socialism is a dangerous enemy to capital investment.

In the end, Harper is right, you don't change your plans mid stream, but you do adapt to a changing situation.

In business, there is no such thing as a bad decision... merely one which might need tweaking.

JimmE said...

Perhaps the press have been influenced by Harpo's other vid

Steve V said...

"Harper is right, you don't change your plans mid stream"

Sorry, you're just a boring drone on auto pilot. Change plans? Like getting people together to adapt to WORSENING economic conditions. Yes, why don't you ask the "market" if they "like what they see", or how the PROJECTIONS look for that matter.


Anonymous said...

MacDonell is full of it. Harper has acknowledged seeing this coming a year ago - and what has he done to shore up our institutions and our society? Zip. How much ought he to have done? A great deal. Investors usually don't place a lot of trust in people asleep at the switch - except in the United States.

Anonymous said...


Are you suggesting some theme music for the CPC juggernaut?

Be careful what you wish for.

If Canadian's listen to McFerrin's song and associate it with Harper, he just may get his majority.


burlivespipe said...

I'm just wondering, with a dearth in Liberal advertising, is there going to be a big push on TV for those swing voters? I'd have thought we'd have pulled out those 'RCMP holding open the doors and helping Elections Canada hauling out boxes from CON headquarters' ads by now.
I know we said we'd take the high road, but this stuff is gold.

Anonymous said...


Too true. Where are all the Liberal TV ads? I thought they had packaged a whole bunsh of negative stuff?

The least they should do is remind voters about the Chalk River firing, the dud ministers, Chesty McBoob, a dying Cadman, and the old "in-out".

I noticed the CPC has got a new warmer and even fuzzier ad. This time Harper in snoozy tones sans the sweater.


Demosthenes said...

One good thing about all this. Steve-o has showed, time and time again, that he's really not good on his feet. Neither are his staffers, even if their ranks weren't depleted by scandal, outrage, and (in one case) taking the fall so that he can get away with stealing Howard's words. Flanagan's gone too, as far as I know.

If they really are cobbling something together--which isn't their strong suit--it could be a goldmine for both the Liberal war room and the Liberal blogosphere.

Demosthenes said...

As for the random commentator there: steadiness is only valuable if it's wise and acknowledges the situation at hand. Otherwise, it's denial.

And we've all seen how well denial works in a national leader, haven't we?

(And since when does Harper have a "plan"? Isn't that the whole problem here?)