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Originally Posted by Ronald Pagan
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Yeah except BMO is one of two "Big five" banks that are a serious going concern. They would love deficit spending if it was buying equity stakes in Canadian banks much like the TARP program is doing in the US. When unemployment levels are still low and government right now is bloated after years and years of good times creating government jobs and departments that serve little purpose, I'd argue it's more prudent to dig deep than borrow money to spend on even more inefficient measures to pump money into the economy. While this certainly isn't a normal time in the economy the "depression doomsayers" are really just people that either haven't lived through a serious recession or have forgotten after 20 or so years.