Quote:
Originally Posted by BoLevi
Carney is a strong animating force behind the policies adopted by the Liberals in terms of carbon taxation, etc. We now know these policies are not practical because they are unsustainable (heh) in the face of any economic headwinds. They are far too inflationary to ever be practical. Encouraging their deployment in climate-change-irrelevant jurisdictions like Canada is exactly the type of virtue signaling but ultimately pointless exercises that are the signature of Trudeau and the modern Liberal party. He has been a close advisor to Trudeau (officially and unofficially) for the last 4 years, as the country has rung up deficit after record deficit. He is not a beacon of fiscal responsibility.
Carney is a keynsian and oversaw monetary, and often ultimately fiscal, policies through the GFC and since that have driven up asset prices and financial assets in the name of "stability". This is effectively a wealth transfer from the poor to the rich, and we have seen the results in wealth inequality. The financial systems capturing the state have been responsible for wealth inequality, and this setup has been wrongly described as "capitalism". He's one of the global authoritarian elite technocrats that people should insta-hate. The fact that progressives see him as some great new hope against the the current national and global shift towards anti-authoritarian policies is fascinating.
Central bankers should not be running for office, and convention has generally been that they don't. It is instantly obvious that this creates a conflict of interest for the banker. There are some institutions which should not see cross-over. We wouldn't want a supreme court justice to run for the PM job for the same reason.
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I think you just wrote a paragraph saying Carney managed the economy well through the GFC.
I fundamentally disagree that the bank causes wealth inequality. Instead that is a government function of taxation.
But inject that central banker globalism in my veins.
(I agree with you it is ironic that in terms of economic policy the progressives became conservatives and the conservatives became progressive)
Bankers holding power should be conservative cat nip.