Today we learn from Lima Peru that Stephen Harper is promising "unprecedented action" to calm the state of fear. Please somebody, put this guy on a leash. What is he up to now? Stephen Harper is the main source of Canadians' fear and Canada's economic undoing. This is the guy who increased spending by 14% per annum while reducing the GST by 2%? This is the guy who promised us in the last election that Canada's fundamentals were strong and encouraged Canadians to invest in the stock market. Those who followed Steve's advice will have lost 21% of their investment. This is the guy who encouraged Canadians to invest in income trusts in the 2006 election and promised to protect seniors nest eggs. That sucker punch advice cost these Canadians $35 billion of their life savings.
No, the only thing Canadians have to fear is Stephen Harper himself. My advice: Put a sock in it Steve, we don't need any more of your "unprecedented actions".
Harper promises 'unprecedented' action to calm 'state of fear'
David Akin ,
Canwest News Service
November 21, 2008
LIMA, Peru - Prime Minister Stephen Harper, speaking here on the eve of the APEC leaders' summit, said markets "remain in a state of fear" and vowed to take "unprecedented fiscal actions if they are necessary" to stimulate economic growth and ease tightened credit conditions.
Harper was to have a one-on-one meeting with U.S. President George Bush on Saturday morning before giving a speech to CEOs and leaders from the 20 countries that make up the Asia Pacific Economic Cooperation (APEC) forum. He will also be meeting with the leaders of New Zealand and Peru on Saturday.
Following the G20 leaders summit last weekend in Washington, stock markets in Canada and around the world suffered one of their worst weeks ever.
"The markets remain in a state of fear," Harper said at a news conference here after he and Colombian President Alvaro Uribe signed a free trade deal between the two countries. "Those fears aren't always rational, but they're very real."
Analysts attributed some of the losses to tightened credit conditions, even though the world's governments have pumped billions of dollars into the world's banks.
"There remains considerable fear in stock markets and other markets around the world," Harper said."These markets are from time to time not rational."
Though the benchmark TSX Composite Index regained some ground on Friday, it was down more than nine per cent for the week following the G20 summit.
"This government's made clear, all major governments in the world - and I think we'll see the same thing this week - they're determined to take whatever financial, monetary or fiscal actions that are necessary to sustain growth in the global economy."
Harper said lowering trade barriers through agreements such as the one he signed Friday with Colombia will be an important component of protecting and encouraging economic growth.
"We will take, as well, in Canada, unprecedented fiscal actions if they are necessary. We will do whatever is necessary to sustain the position of the Canadian economy," Harper said.
© Canwest News Service 2008
Saturday, November 22, 2008
Posted by Fillibluster at 9:13 AM