Quote:
Originally Posted by Thunderball
Agreed. Somewhere along the way, Klein, Stelmach and co. demonstrated a clear lack of understanding, boosted by lack-witted rural masses conned into believing any government debt is bad. Only they are incompetent enough to suggest cutting programs at this stage. That is most definitely the way to a prolonged recession.
However back to the other side of the coin, I do think Canada's inferiority complex is showing a bit. Are we in a bad situation? Sure. Is it in the same ballpark as the US, or the UK, or much of the rest of the world? No... but spending and cuts to this magnitude suggest we're on the verge of nationalizing banks, or bailing out mortgage companies like other countries forced into multibillion dollar spending sprees.
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Agreed...outlawing a government deficit? s-m-r-t Klien. Farmer Ed may have to adjust this legislation.
I haven't heard anything about Canada's banks being anywhere close to being nationalized...relatively speaking Canada's banks are in better shape than most. What pisses me off is hearing that the majority of money given to US banks was kept for M&A or improving their balance sheets (to ensure that they can ride out the recession)...not much made its way into improving access to credit.