Monday, April 6, 2009

Apparently this guy thinks he's an economist? Could have fooled me.

View the economist at, er um work here, on you know, YouTube

Asked on CNBC whether he would like to see a different global reserve currency from the U.S. dollar at some point in time, Stephen Harper had this to say (April 2, 2009)

“I’m torn on that issue. Um, I’m torn on that issue. It’s a tough issue. You know as we see — um, as we see, uh, uh… the strength, a greater global spread to demand and to, uh, economic wealth, there may be to some degree an eventual inevitability of, of you know, other economies’ currencies becoming also, of playing some role in the reserve currency. But look, my view is that, as I’ve said before, the United States is our, err, closest neighbour and, um, friend and ally, and, uh, you know, in the short term I’m, I’m happy to see, uh, the United States being a reserve currency because I, I think American leadership is good for Canada and good for the world.”

Also asked on CNBC whether he has any hard evidence to support his contention that income trusts cause tax leakage, Stephen Harper had this to say:

“I’m torn on that issue. Um, I’m torn on that issue. It’s a tough issue. I’ve been on both sides of that issue. You know as we see — um, as we see, uh, uh… the strength, , uh, economic wealth, there may be to some degree an eventual err, closest and, um,, uh, you know, in the short term I’m the Prime Minister and that this um is an issue that uh, uh, I might lose my er, um job I think we’ll um respond with a new set of, um err attack ads against um, you know Michael Ignatieff rather than , um er admitting we basically um err, you know, fabricated er that argument for reasons, err well, because I , I think the CCCE and Corporate Canada are a force of good for Canada and good for, you know, my future job, er prospects.”


Anonymous said...

If Steven Harper had been a real economist or a knowledgeable individual he would have referred to the attempt in the late 1960s amd early 1970s to introduce a new reserve currency by the International Monetary Fund. The First Amendment to the IMF Articles of Agreement since Bretton Woods introduced the Special Drawing Rights (SDR). The SDRs issued to the IMF member countries were supposed to progressively replace the US dollar as the main international reserve instrument. Controlled issuance of SRDs by the IMF was meant to regulate the creation of international liquidity in a non-inflationary way. While billions of SDRs were issued and held in the international reserves of central banks SDR issuance of new SDR stalled due to disagreement among IMF member countries about the need to increase international liquidity over and above what was readily available through expanding world capital markets and sovereign borrowing. The USA was also quite happy to sabotage what would have become a rival to the US dollar and the end of the American exorbitant privilege to flood the world economy with US dollars to pay for their massive balance of payments and budgetary deficits. The ongoing economic crisis and the resulting sea of red ink spilling out of the US as well as the increasing unease in China to keep buying American IOUs has resurrected the idea of a new international currency.

If Harper had been so a real economist he would have alluded to the above events and say that maybe the IMF should re-examine the issue.

Yves Fortin

Kephalos said...

Why is Harper pandering to the UD media?

He wants a new skin-tone. He wants to bask in the tawny golden hue of reflected glory. He knows the world feels good about Obama.

An NY Times op-ed by AM√ČLIE NOTHOMB of France says:

"Envy is a complex passion. It engenders both love and hate. Many French intellectuals hate Barack Obama because they feel that too many people adore him, and with too much ardor. But by and large, the optimism and excitement that the majority of French people felt during Mr. Obama’s presidential campaign and at the moment he was elected have not diminished.

"We had a chance to appreciate Mr. Obama’s spirit of cooperation with Europe at the G-20 summit meeting. It came almost as a surprise, for we are no longer accustomed to such things after years of George W. Bush’s isolationism. Mr. Obama’s position on Iran has provoked a more-than-favorable reaction all across Europe, and particularly in France, and nothing seems to be clouding the blue skies of the old continent’s love story with President Obama. Mr. Obama’s anger is portrayed here as something holy. And when he laughs, we laugh.

"When our president, Nicolas Sarkozy, gets angry, on the other hand, we laugh. When he laughs, we wonder why. We feel that Mr. Obama confers dignity on his country and its people. We, too, would sorely like to feel dignified.

Does Harper's making it up as he gropes and flops along dignify Canada? No, green is the color of envy, and Harper is looking green around his gills.

Anonymous said...

Brent you are getting very good at translating "Harper speak".
This nonsense with all the "um's, uh" and general meaningless babble is very difficult for Canadian English speakers to understand.
Maybe he is better in French?