Friday, May 29, 2009

Why did Jim Flaherty, the $35 billion Income Trust Fraudster, miss all of these signs?

"None of these economists, I can tell you, predicted this recession. And none of these economists predicted the depth of this recession. I have to deal with the reality of it — not the speculation surrounding it — and that's what we're doing,"
Jim Flaherty said on May 28, 2009

So these 9 economists do not exist:

Nov. 19, 2007 (Bloomberg) -- The number of economists forecasting the U.S. will slip into recession almost doubled over the last two months, according to a survey by the National Association for Business Economics.

Nine of 50 economists pegged the odds of a contraction over the next 12 months at 50 percent or higher, according to a poll taken from Oct. 22 to Nov. 6. Just five of 46 held a similar view in September.

The spillover from the biggest housing slump in 16 years, turmoil in financial markets and higher energy prices will cause growth to slow to an annual pace of 1.5 percent this quarter, less than the survey participants previously forecast. More than two-thirds of those polled said the chance of recession was at least 25 percent.  

and these 54 forecasters do not exist:

"In the latest monthly survey, economists put the chance of recession at 42%, up from 38% in December and 23% just six months ago. On average, the 54 forecasters who participated see the economy expanding at less than a 2% annual rate in the first and second quarters. Last month's survey estimated 2007 growth at 2.5%." WSJ January 11, 2008

and Goldman Sachs does not exist:

"The investment bank Goldman Sachs yesterday predicted a recession is on the way." January 10, 2008

and Swiss Re's economists do not exist:

"Swiss Re's economists predict a severe recession until mid 2009 in industrialised economies, including the United States and Europe" December 9, 2008

and economists at RBC, CIBC, BMO, TD and National Banks do not exist:

"Economists from Canada’s Big Five banks say they expect little or no growth in the near future and they warned today that the domestic economy’s current gloom will likely deepen into something worse than a recession." October 6, 2008

and these 34 economists do not exist:

"Two-thirds of the 52 economists polled said the U.S. economy is in recession. Add those who believe the economy will be in recession soon, and 79% believe that the economy will contract at some point in 2008." April 29, 2008
So Jim do you still believe that "none of these economists...predicted this recession" ?  Why did you not hear them? Or do you simply not understand Finance 101 or Economics 101, the two courses you skipped in university while on a hockey scholarship at Princeton?


Anonymous said...

It's pretty hard to hear when his own gums are flapping.

If he actually shut up and listened to people who really matter, not the financiers and CEOs , but the people who form this country things just might be a bit different.

Who knows , but his way sure isn't.

Rick D.

Anonymous said...

Because Jim just can not tell the Truth!!!!!!!!!!


Big Winnie said...

He missed all the "signs" because he's too short.

penlan said...

"Big Winnie said...
He missed all the "signs" because he's too short."


Trust Man said...

Gems from the Fraudster Flaherty
(duhhh which way did they go?)

"I want to make sure we keep the budget in surplus." Jan 14, 2008

"No deficit – balanced budget [...] There are other ways that governments can balance budgets, of course, we can always restrain spending if that becomes necessary." April 10, 2008

"We will not run a deficit." Oct
9, 2008

"None of these economists predicted this recession." May 28, 2009 except for the 100 economists listed in the article including the economists from the 5major canadian banks prediction almost 8 months ago.

Dump the $50 billion man.

Anonymous said...

Just a theory ... Jim Flaherty suffers from the old ostrich syndrome.

His words and actions represent a counter-productive denial of reality - akin to the Ostrich defense mechanism.
The Ostrich Syndrome is based on the urban legend, that Ostriches bury their heads in the sand when in danger.

This diagnosis of Ostrich Syndrome has been very applicable for Jim on too many occasions.

Also like the theory that perhaps Jim was hit in the head, hard, too frequently with hockey pucks. The lost brain cells could explain his lack of comprehension when it comes to accounting and economic matters.

Dr Mike said...

Hey wait a minute , maybe Jim just doesn`t know what the hell he is doing & never did.

He left us in a mess in Ontario when he exited stage "right".

He is going to leave us in a correspondingly large mess when he exits politics for good.

Maybe his wife Christine can find something for him to do around the office.

Dr Mike

Anonymous said...

He missed it because he has absolutely no background in economics, finance, or business.

He’s a personal injury lawyer.

Giving someone a title is not the same as giving someone an education or experience.   


Anonymous said...

Yep - all of the above answers are correct. And what he's done all along is be a bully to hide his incompetence.
He can pack his bags, with his wife and get out of this country - and take McSquinty with him.