Wednesday, January 28, 2009

A plausible update required from Mark (Pollyanna) Carney

Mark Carney made statements in advance of Harper’s budget that Canada’s recovery would be quick. This was before the budget details were known. As such, we need an update from Bank of Canada Governor Mark Carney that:

(1) Outlines the incremental effect of Harper’s stimulus measures on Carney’s forecast, if any, in light of Harper’s $83 billion deficit budget

(2) Takes into account the contrary view taken today by the IMF:

IMF darkens outlook for Canadian economy

Updated Wed. Jan. 28 2009 12:13 PM ET

The Canadian Press

OTTAWA -- The International Monetary Fund is darkening its outlook for the Canadian and world economies, throwing into question some of the projections made by the Harper government in its budget Tuesday.

The new global outlook, released Wednesday, sees the world falling much deeper into recession than previous forecasts, but also projects a more feeble recovery than either the Bank of Canada or the budget assumes.


Dr Mike said...

Carney must be living in a mushroom farm.

The bond crisis has not begun to rear it`s ugly head as yet---once it does everyone better be ready to duck because it may not be pretty.

Dr Mike Popovich.

Truth in Trusts said...

Flaherty is Harper's stooge.
Carney is Flaherty's stooge.
Flaherty gave Carney, the Goldman Sachs boy the reins to the Bank of Canada.
Goldman Sachs and the other bandits south of the border have created this world wide financial crisis with their greedy utilization of derivatives, SIV's, CDO's etc. etc.
Carney imposed the tax on the income trusts so that his financial buddies would get the money that was forced out of the trusts. The tax leakage argument was Carney's bogus creation.
The fox is in charge of the hen house. Heaven help us all.