Thursday, March 04, 2010

We Saw This Coming

From Jim Flaherty's budget preamble:

A year before the crisis, we saw the risk of a slowdown. It originated outside our borders, but we knew it would eventually affect us.

I guess you just had to read between the lines:

September 15, 2008: "My own belief is if we were going to have some kind of big crash or recession, we probably would have had it by now." - Stephen Harper

September 26, 2008: "All the fundamentals of the Canadian economy are good. It's not the time to do anything new, wild or stupid." - Stephen Harper

October 10, 2008: "This country will not go into recession next year and will lead the G7 countries." - Stephen Harper.


  • He's psychic, except when he's not.

    By Blogger Jacques Beau Vert, at 8:39 p.m.  

  • Stephen Harper drinks too much.

    By Anonymous Anonymous, at 9:37 p.m.  

  • And doesn't smoke enough, let's face it

    By Blogger Jacques Beau Vert, at 10:16 p.m.  

  • He doesn't smoke enough what?

    I don't know he alway's seems like he's in his own little world.

    Complete and total control

    Oh wait a minute that's what he think's he has with Canada.

    By Anonymous Anonymous, at 11:30 p.m.  

  • *cough*

    'Challenging year' ahead, Harper warns in year-end interview

    OTTAWA — Prime Minister Stephen Harper has a sobering message for Canadians this holiday season: Enjoy the eggnog and candy canes while they last, because the party could soon be over.

    The prime minister is warning the public to expect a "challenging year" as a global economic slowdown looms and the federal government prepares to introduce climate change regulations on industry.

    "The Canadian economy’s fundamentals are very strong. We’re very well positioned," Harper said in a year-end interview with CanWest News Service at 24 Sussex Drive.

    "That said, we are an open-trading economy in a world where there is increasing economic uncertainty — in the United States economy in particular, but (also) some other parts of the globe. We are not immune to that."

    PM worried about economy, but not national unity

    When asked what troubles him about the year ahead, Stephen Harper said he's concerned about the slowdown in the American economy and how it could impact businesses north of the border.

    "I believe 2008 will likely be a challenging year in terms of the economy," he told CTV News' Chief Anchor and Senior Editor Lloyd Robertson, and Ottawa Bureau Chief Robert Fife.

    While Canada's unemployment rate is the best in 30 years and inflation is low, the prime minister said the soaring loonie is hurting Canadian exporters. Last September, it eclipsed the U.S. greenback for the first time in more than three decades.

    If the U.S. economy continues to be sluggish in 2008, Harper said Canadians will feel the pinch.

    "There is no way we can be completely insulated from what is going on in the United States or in the global economy," he said.

    By Anonymous The Invisible Hand, at 12:21 a.m.  

  • Check out page 10 of Ekos poll:

    By Blogger Eugene Forsey Liberal, at 1:42 a.m.  

  • Well played Dan.

    By Blogger James Bowie, at 2:12 a.m.  

  • Invisible Hand - Fair enough, but Harper and Flaherty have been all over the map that it's hard to give them credit for actually predicting this.

    Especially if you look at Flaherty's budget projections.

    By Blogger calgarygrit, at 9:33 a.m.  

  • Invisible Hand: you do have a point there but I think it's telling that those notes of caution were sounded in late '07 and the hubris-laden pronouncements which CG quoted are from the time of the '08 election.

    Apparently Harper is capable of at least saying the right sort of things about the economy but only when he's not trying to get re-elected.

    By Blogger saphorr, at 11:10 a.m.  

  • If you'd like, I'm sure we can find some quotes from the Liberal Party from the '08 election.

    Such as these ...

    But is that really the game you want to play?

    By Blogger Paul, at 5:07 p.m.  

  • Paul

    Go suck an egg

    By Anonymous Anonymous, at 4:39 p.m.  

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  • Well said by Stephen
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