I've finally figured it out, Jim Flaherty is operating with a three week lag time. Flaherty speaks or releases, but for some reason it takes that much time for the news to make to the outside world. We've seen this lag pattern since the election, wherein everyone is taking about one scenario, but Flaherty is speaking in outdated language, only to catch up later, about three weeks.
Think I'm crazy, well consider the following:
1)Yesterday, Flaherty revises his economic forecasts in line with private forecasts, available to him three weeks ago when he released his economic update.
2)Today, the Flaherty announces that we will have a deficit of 5 billion next year, which happens to be quite similar to Budget Officer Page's assessment, released exactly three weeks ago.
3)Today, Flaherty announces a economic advisory council, which seems strangely similar to a concept floated by the coalition almost three weeks ago.
4)Remember, during the last week of an election, Flaherty said deficits were unacceptable and then three weeks later, he argued that they might be necessary.
5)Remember when Flaherty was arguing that Canada could avoid a recession, while economists were suggesting a "technical" recession. Three weeks later, when Flaherty was talking about a "technical" recession, economists were talking about a real recession. Now, three weeks later Flaherty is talking about a real recession, while economists are talking about a deep and long recession. Look for Flaherty to concede a deep recession in the second week of January.
There's more, namely on stimulus, but you can see the pattern. I'm no expert on worm holes, time continuum's and what not, but I bet Jim Flaherty thinks today is November 28th. Can't wait until he learns Ignatieff is the new Liberal leader.