http://www.ctv.ca/servlet/ArticleNew...tories&s_name=
Quote:
Flaherty, who's visiting New Brunswick for the launch of his pre-budget consultations, says acting too quickly and making the wrong choices would not help Canadian families or businesses.
"We know what we are up against -- worldwide economic slowdown, volatility in financial markets, sharp drop in commodity prices -- we are living in extraordinary times," he said.
"We also know that panicking and making the wrong choices would be devastating for the Canadian economy."
...
After the speech, Derek Oland, chairman of the board for Moosehead Breweries, warned there is a need for action from Flaherty to ease the economic pain that is coming.
"Despite the fact that he says Canada is in the best shape, we are going to go through some very tough times and he has to realize that despite some of the good news he talked about that they've done, they are going to have to do more," he told CHSJ radio.
....
Flaherty said the federal government is listening to a range of economic opinions on a financial stimulus package, but he didn't give any specifics on the approach he will take.
"There is no uniformity of opinion by various economists," he said.
He said he is meeting his provincial counterparts in Saskatchewan next week and the Liberal finance critics on Monday in Toronto.
The Bank of Montreal says Ottawa should move decisively on a fiscal stimulus package of as much as $16 billion next year to arrest the economy's slide into recession, but Flaherty wouldn't say if he is ready to commit the government to that kind of spending.
Flaherty said he will avoid spending that leads to permanent deficits.
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Very interesting article. I agree that panicking isn't the way to go, as fear and hype can cause more problems, but I also agree that something more has to be done. The quote "There is no uniformity of opinion by various economists" shows how tough this situation is.
Is there a right answer? I don't really think so....