Masthead graphic based on a painting by Gudrun Thriemer.

Friday, December 19, 2008

Garth Turner, "Adrift," The Turner Report, December 19, 2008.

[It's worth the trouble to enlarge the graphic enough to read the quotations. -jlt]

Thanks to Toronto lawyer and chartist Ted for sending me this vibrant and visual reminder of the influence an errant, make-it-up-as-you-go leader can have on investor confidence during a time of financial volaility.

Both voters and markets have been misled, miscued, deceived and dismayed by the ramblings of pseudo-economist Stephen Harper. He called an election saying Parliament was dysfunctional, and after the election shut Parliament down. He campaigned vowing never to run a deficit, and is now on the verge of ushering in the biggest moneypit in almost 15 years. He said there’d be no recession in Canada, and just weeks later was comparing current events to 1929. He brought in an economic statement which he disavowed three days later. He won the election and scant weeks later almost lost his government over economic incompetence.

  In fact, this week new evidence confirms views expressed here over a year ago that Ottawa’s own actions in creating Canadian subprimes played a big part in digging the hole we now stare out of.

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