Explain yourself, governor - Macleans.ca

Explain yourself, governor


Mike Moffatt explains his concerns about Mark Carney and the Liberals.

The problems for Mr. Carney and the bank now reach beyond recent monetary policy decisions. A month before Mr. Carney had announced that he would not run for the Liberal leadership – famously retorting: “Why don’t I become a circus clown?” – he gave a speech in Calgary critical of Tom Mulcair’s position that Canada is suffering from Dutch Disease. He called Mr. Mulcair’s position “overly simplistic and, in the end, wrong.” It is unusual, though not unheard of, for the Governor of the Bank of Canada to weigh in on policy debates. His remarks were in all likelihood an independent attempt to stifle a stale talking point that had turned into a political football. That some will now almost certainly go back and parse his comments in an attempt to uncover even the slightest taint of partisanship is a major problem for the bank.

If the allegations are untrue, Mr. Carney must refute them as quickly as possible in order to protect the bank’s reputation. If not, the bank must distance itself from Mr. Carney as quickly as possible and request his immediate resignation.

According to the iPoliitcs morning brief, Mr. Carney feels “stung” by the criticism he has taken and he and the Bank will be addressing these accusations today.


Explain yourself, governor

  1. First of all, if that’s a “major” problem do we have technology significantly advanced yet to be able to detect a “minor” problem? (“Mounting horror” of a certain Macleans scribe


    Secondly, now that a few days have passed, has any journalist had the time to look into what the rules or laws are dictating when and how a party may approach a civil servant to run for office, and if they were berached?

  2. “His remarks were in all likelihood an independent attempt to stifle a stale talking point that had turned into a political football.”

    Is Moffatt arguing that it’s acceptable for Governor to speak out as long as Moffatt agrees with them?

    I believe Dutch Disease is nonsense but many others believe it is a real problem and economists are divided, there is no unanimity about dutch disease. It is not up to Governor to decide what is a ‘stale talking point’ and what isn’t, so Governor should keep mouth shut. NDP quite like Dutch Disease theory, as do many of their supporters, Carney was taking a partisan position when he gave speech in first place. It is not less partisan just because Moffatt agrees with Carney.

    Economics is social science, there are no correct answers, so Governor should stay out of debates about economics in order to avoid partisanship allegations.

    • Dude, it’s freaky when your posts are more reasonable than not.

  3. Seems to me to be along the lines of “I know we can’t prove it, I just want to hear him deny it!” reasoning.

  4. I’m pretty sure Carney did refute the allegations when they first appeared. Seems certain members of the media just don’t want to listen.

  5. Hard to follow Moffatt’s line of logic…Guv’nor doesn’t want to become clown and or liberal, says so publicly.

    He then gave a speech panning DD.

    Now he is leaving the country for a bigger job.

    If i’m following MM perfectly a man who has repeatedly and publicly denied interest in running for the libs now[open question in ’18, which is hardly a crime, except in Harperland]
    has potentially tainted the banks reputation by giving a speech that some might construe as pro liberal, and then turned around and taken another job. All this from some media speculation. I guess hearsay evidence is admisable in the banking world.

    So, the speech went over badly? This is an awfully slender rope to hang a man from.