Leading economist warns of possible Depression - Macleans.ca

Leading economist warns of possible Depression

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A few more points from the Prime Minister’s obviously satirical interview with ATV.

1. Asked if a Depression could be in the offing, the Prime Minister responded, “It could be.” This new projection comes three months to the day after he assured Canadians that if we were going to experience a Recession, “we probably would have had it by now” and just over two months after he told Canadians the stock market was rife with “great buying opportunities.”

Non-rhetorical question: Would you let this man manage your personal finances?

2. He says now that he’s “very worried about the Canadian economy.” This comes after Mr. Harper argued during the election that a) the Canadian economy was on “solid footing”; b) opposition parties were “talking down” the economy when they warned of potential problems; and c) Canadians were “not worried” about losing their jobs or their homes.

Non-rhetorical question: Does the Prime Minister’s empathy make you feel any better?

3. On the subject of economic stimulus, the Prime Minister says there was some in the fall economic statement, he wishes Parliament had passed that, since it didn’t he’ll reintroduce it in January, waiting another month won’t hurt the economy and, indeed, the government needs the extra time to make sure it applies the stimulus correctly.

Non-rhetorical questions: If what the government needed after the October election was three months to consider its options, why did it bother convening Parliament in November? Was the stimulus provided in the economic statement thoroughly thought through? Has the apparently agreed-upon auto bailout been properly considered? 

4. The Prime Minister continues to insist the opposition parties are plotting to “overturn the results of the election.”

Non-rhetorical question: Is there a single, reputable constitutional scholar in this country who would agree with the Prime Minister’s use of the word “overturn?”