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Originally Posted by Red
Well the Cons were trying to deregulate banks, USA style. Thankfully that didn't pass or we would have had a US style crash.
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Please expand on how they were going to de-regulate 'USA style'
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Harper and Flaherty did bail out the auto industry. They sold those investment last year to show a surplus in an election year. From what I read, they sold at a loss.
They kept the housing market afloat by extending mortgages to 40 years and 0 down payments. They have since been reversing those changes as they realized what bubble they created.
They lowered the interest rates to boost the economy. The public has since gotten themselves in highest levels of debt ever. We read about new highs every month or two.
So yup, we did alright in the short term.
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They didn't lower interest rates, that's up to the BOC. And personal debt is at all time records largely because, with low interest rates, housing prices are high, relative to incomes. This has nothing to do with the Conservative gov't. And how much of an issue it is is largely debatable.