Saturday, February 21, 2015

So Let It Be Written. So Let It Be Done.


Stephen Harper hasn't shown up to debate Bill C-51. He just announced it at a campaign rally. And he's letting Joe Oliver do the talking about the economy. Heading into a meeting of finance ministers last week, Oliver declared:

Our Government’s sound economic management and unwavering commitment to balance the budget this year — while creating jobs, growth and long-term prosperity for Canadians — has resulted in a resilient economic performance in a challenging global economy. 

But, given the facts, what Oliver has been saying is pure gibberish. Scott Clark and Peter DeVries write:

This government has adopted an austerity-led growth strategy. We got the austerity — we just didn’t get the growth. Annual economic growth has fallen in every single year since 2010. Forecasters, including the Bank of Canada, are lowering their growth forecasts for 2015 to below 2 per cent, a far cry from the almost 2.5 per cent they were forecasting only a few months ago. The Canadian economy is in a deep freeze, and the only thing Oliver and Prime Minister Harper can think to do is more of what they’ve done: cut spending.

The drop in oil prices has forced economists to revise down their outlook for inflation. Nominal GDP — the broadest base for calculating government revenue — is now expected to be significantly lower than the earlier forecast. In the November 214 Fiscal Update, Oliver forecast nominal GDP growth at 3.7 per cent for 2015. Now, most private sector economists expect it to be around 2 per cent. This will result in much lower federal revenues going forward.
Oliver says the government has an “unwavering commitment to balance the budget.” Trust us — absolutely no one in a position to know believes that Oliver can do it without some budgetary voodoo.

Apparently, Mr. Harper believes he is the New Pharaoh. Facts like these simply don't matter:

The unemployment rate is stuck between 6.5 and 7 per cent. The labour force participation rate is at its lowest level since 2002. In January, the increase in employment was due primarily to part-time and self-employment. Full-time employment actually fell. And we can expect things to get worse in the coming months, as we begin to see the direct impact of falling oil prices on employment.

Last year, the G20 agreed to boost spending on infrastructure "to raise global GDP by 2.1 per cent by 2018." But Oliver insists that balancing the budget comes first.

So let it be written. So let it be done.


Rural said...

Lets us not sully that picture of a fine leader in all his imaginary regalia with the fact that he is a grubby little man in little more than soiled underpants!

Owen Gray said...

There are two Stephen Harpers, Rural. The Harper we see -- and the Harper the prime minister sees in his dreams.

Pamela Mac Neil said...

You've got to suspend consciousness Owen in order to lie like Harper and Oliver. What's incredible is they lie with a straight face and to the whole country. Their like the kid who denies eating from the jam jar, but has jam smeared all over his face. I find the scope of their lying breath taking, They literally don't seem to be able to tell the truth on everything and all the time.

Hugh said...

Again, I think the pursuit of infinite growth is a mistake.

We should be shrinking the GDP.

Growth is only 'needed' to perpetuate the ponzi financial/banking system, IMO.

Owen Gray said...

And again, Hugh, I say it's about sustainable growth. There is such a thing as a virtuous cycle that respects limits.

Harperian economics is all about shrinkage -- shrinkage of employment, wages, government.

Owen Gray said...

When you believe you create your own truth, Pam, you can't lie.

Pamela Mac Neil said...

You're right Owen, but that also means they are more psychologivally demented than I thought.

Owen Gray said...

They are a deluded bunch, Pam. And they insist they have all the answers.

lungta said...

about 7% of canadians are evangelicals
over 50% of stevies caucus is evangelical
they have a book with all the answers don't they?
you know ....the one that starts with talking snakes
i have learned to just not engage those that start there

my only respect for stockwell day (stated the earth was only 4500 years old) was when over the rendition missions he had so much trouble lying he had to get out or maybe was asked to leave

Owen Gray said...

After Day declared that the St. Lawrence flowed into Lake Ontario -- not the Gulf of St Lawrence -- it became clear that his days were numbered, lungta.

Anonymous said...

They are liars the Harper-con clown show Owen. Hopefully their pants catch on fire prior to the election.

Mogs Moglio

Owen Gray said...

They have no clothes, Mogs. They could really get burned.

mogs moglio said...

Hope so Owen...