ArcticCrusher Posted May 14, 2020 Share Posted May 14, 2020 58 minutes ago, frenchy said: once again Harper nails it.... https://www.wsj.com/articles/after-coronavirus-government-will-have-to-shrink-11589302337 Big spending on COVID-19 now should mean smaller government later, Stephen Harper argues in essay The former PM forecasts that if Trudeau's government doesn't figure out a way to balance the books, the country could default on its debt Brian Platt May 13, 2020 12:34 PM EDT In a rare newspaper column, former prime minister Stephen Harper argues that the massive public spending — and the subsequent massive public debt — in response to COVID-19 right now must lead to smaller government action so the economy can recover and debt levels can recede. If spending doesn’t go down as soon as possible, governments could face a debt crisis down the road that requires “brutal” austerity measures, he says. “What has happened in this crisis so far is not an indicator of the future,” Harper writes in the Wall Street Journal. “A new era of big government in the economy is unlikely, undesirable and far from inevitable.” Harper was prime minister from 2006 to 2015, including during the 2008/09 global financial crisis when he brought in a major economic stimulus package in response to the recession. He now runs a consulting firm called Harper & Associates. In the column he takes aim at “leftists” who see the pandemic measures as a sign that bigger government spending should be the new normal, and that taking on high levels of public debt will be easily manageable down the road. The social distancing measures brought in by governments around the world may be necessary now, he writes, but they are “economically ruinous,” and the “underlying assumption — that the economy can be restarted later as quickly as an idle automobile — is dubious.” Another problem, he says, is that public-sector balance sheets will be an “unholy mess,” exacerbated by the fact public debt levels were already “dangerously high” before the pandemic hit. Canada’s parliamentary budget officer recently estimated that the deficit this year could top $252 billion; by comparison, Canada’s biggest deficit during the financial crisis was $55.6 billion in 2009/10. “‘Modern monetary theorists’ will prattle on about how with low interest rates and monetary expansion this does not matter,” Harper writes. “Their core belief — that governments can never really run out of money — is nonsensical.” DEFAULTING ON DEBT He notes that Mexico faced default and Canada came close in the 1990s due to public debt, and many countries faced major debt problems in the 2008/09 financial crisis. “This time will probably be much worse,” he writes. “Governments began this episode with poorer balance sheets, and central-bank actions effectively nationalized much corporate debt…If they fail to practice mild austerity proactively, a brutal kind will be thrust on them.” Harper concludes by warning that governments will face pressure to keep spending levels high without raising taxes, particularly as those on public sector salaries have been spared the devastating effect of COVID-19 on their incomes. Because of that, he says a smaller government response may not happen regardless of the evidence in favour of it. “Governments that resist restoring free enterprise and fiscal responsibility will experience recession and stagnation,” Harper says. “Those that do the right things will lead their countries to a far more prosperous future.” Ahem, cough, cough. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 14, 2020 Share Posted May 14, 2020 Good job Truetard. https://www.blacklocks.ca/says-old-cannon-are-banned/ Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted May 14, 2020 Share Posted May 14, 2020 8 hours ago, irv said: No thought voting?? Are you fucking kidding me?? Who hasn't seen that your hero is the most stupidest, corrupt, incompetent and idiotic PM this country has ever seen? Never mind the fact that he is destroying it every chance he gets. Oh yeah, that's you, the person with those same qualities. I'd elect a conservative understudy at this point and I'd have no doubts they'd be 10 x the leader than your imbecile idol. if you simply vote for the same party time and time again it doesn't take a thought other than how to get to the poll I voted Harper twice you know that and Yes I voted Trudeau for good reason something you still don't understand (OAS) and legal weed What has any other party offered? tell me? why are you simply going to vote for whoever leads the CPC what have they offered? I am going to say NOTHING SO FAR due to not having a party leader never mind being able to run the country - how ridiculous you stating you would vote CPC no matter the platform \ no thought voting many do it Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted May 14, 2020 Share Posted May 14, 2020 8 hours ago, frenchy said: once again Harper nails it.... https://www.wsj.com/articles/after-coronavirus-government-will-have-to-shrink-11589302337 Big spending on COVID-19 now should mean smaller government later, Stephen Harper argues in essay The former PM forecasts that if Trudeau's government doesn't figure out a way to balance the books, the country could default on its debt Brian Platt May 13, 2020 12:34 PM EDT In a rare newspaper column, former prime minister Stephen Harper argues that the massive public spending — and the subsequent massive public debt — in response to COVID-19 right now must lead to smaller government action so the economy can recover and debt levels can recede. If spending doesn’t go down as soon as possible, governments could face a debt crisis down the road that requires “brutal” austerity measures, he says. “What has happened in this crisis so far is not an indicator of the future,” Harper writes in the Wall Street Journal. “A new era of big government in the economy is unlikely, undesirable and far from inevitable.” Harper was prime minister from 2006 to 2015, including during the 2008/09 global financial crisis when he brought in a major economic stimulus package in response to the recession. He now runs a consulting firm called Harper & Associates. In the column he takes aim at “leftists” who see the pandemic measures as a sign that bigger government spending should be the new normal, and that taking on high levels of public debt will be easily manageable down the road. The social distancing measures brought in by governments around the world may be necessary now, he writes, but they are “economically ruinous,” and the “underlying assumption — that the economy can be restarted later as quickly as an idle automobile — is dubious.” Another problem, he says, is that public-sector balance sheets will be an “unholy mess,” exacerbated by the fact public debt levels were already “dangerously high” before the pandemic hit. Canada’s parliamentary budget officer recently estimated that the deficit this year could top $252 billion; by comparison, Canada’s biggest deficit during the financial crisis was $55.6 billion in 2009/10. “‘Modern monetary theorists’ will prattle on about how with low interest rates and monetary expansion this does not matter,” Harper writes. “Their core belief — that governments can never really run out of money — is nonsensical.” DEFAULTING ON DEBT He notes that Mexico faced default and Canada came close in the 1990s due to public debt, and many countries faced major debt problems in the 2008/09 financial crisis. “This time will probably be much worse,” he writes. “Governments began this episode with poorer balance sheets, and central-bank actions effectively nationalized much corporate debt…If they fail to practice mild austerity proactively, a brutal kind will be thrust on them.” Harper concludes by warning that governments will face pressure to keep spending levels high without raising taxes, particularly as those on public sector salaries have been spared the devastating effect of COVID-19 on their incomes. Because of that, he says a smaller government response may not happen regardless of the evidence in favour of it. “Governments that resist restoring free enterprise and fiscal responsibility will experience recession and stagnation,” Harper says. “Those that do the right things will lead their countries to a far more prosperous future.” does he realize the debt he incurred is second all time pretty funny as Scheer daily take all credit for relief funds Harper should run again instead of being a tool sitting at home with all the answers he never did Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 14, 2020 Share Posted May 14, 2020 18 minutes ago, 1trailmaker said: does he realize the debt he incurred is second all time pretty funny as Scheer daily take all credit for relief funds Harper should run again instead of being a tool sitting at home with all the answers he never did Fail Trudeau is going to own it all. Are you following along? Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted May 14, 2020 Share Posted May 14, 2020 3 minutes ago, ArcticCrusher said: Fail Trudeau is going to own it all. Are you following along? sure once Scheer stops rambling and CPC has a leader The Shut down is Doug's so all affects are Doug's to own - simple Feds are paying out billions due to Doug's shut down how do you see it? Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 14, 2020 Share Posted May 14, 2020 3 minutes ago, 1trailmaker said: sure once Scheer stops rambling and CPC has a leader The Shut down is Doug's so all affects are Doug's to own - simple Feds are paying out billions due to Doug's shut down how do you see it? Doug is Ontario, thank God for him. Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted May 14, 2020 Share Posted May 14, 2020 1 minute ago, ArcticCrusher said: Doug is Ontario, thank God for him. yup go doug 44 billion and counting should bounce back to his 14 billion he was going to have anyway - double the deficit in 3 years sweet Quote Link to comment Share on other sites More sharing options...
frenchy Posted May 15, 2020 Share Posted May 15, 2020 14 hours ago, 1trailmaker said: does he realize the debt he incurred is second all time pretty funny as Scheer daily take all credit for relief funds Harper should run again instead of being a tool sitting at home with all the answers he never did he handed Trudeau the keys to an economy that was breaking even. Trudeau promptly added $80B in new debt in a time when the economy was humming along nicely before this even happened. Brain dead mush mouth. Quote Link to comment Share on other sites More sharing options...
frenchy Posted May 15, 2020 Share Posted May 15, 2020 (edited) 18 hours ago, 1trailmaker said: yup go doug 44 billion and counting should bounce back to his 14 billion he was going to have anyway - double the deficit in 3 years sweet Who to believe. A Postie who is high 24/7 or the Ontario AG? Edited May 15, 2020 by frenchy Quote Link to comment Share on other sites More sharing options...
irv Posted May 15, 2020 Share Posted May 15, 2020 2 hours ago, frenchy said: Who to belief. A Postie who is high 24/7 or the Ontario AG? Imagine having to work alongside this guy, or worse yet, Trail being your boss! Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 15, 2020 Share Posted May 15, 2020 Next stop 65cents. Go Trudeau. Quote Link to comment Share on other sites More sharing options...
smokin george Posted May 15, 2020 Share Posted May 15, 2020 9 minutes ago, ArcticCrusher said: Next stop 65cents. Go Trudeau. Somebody gave me this back in change mistaking it for a quarter. Somebody was saying that 1979 coin might be worth $30. There's a guy in town that'll know and we're dropping some stuff off to him today. Quote Link to comment Share on other sites More sharing options...
irv Posted May 15, 2020 Share Posted May 15, 2020 4 minutes ago, smokin george said: Somebody gave me this back in change mistaking it for a quarter. Somebody was saying that 1979 coin might be worth $30. There's a guy in town that'll know and we're dropping some stuff off to him today. It's hard to tell from your pic George, but I'd look into things a bit more before passing this off or selling it? https://www.youtube.com/watch?v=pzeIl0IzUfM https://www.youtube.com/watch?v=76Mo3ZSb1kQ Quote Link to comment Share on other sites More sharing options...
smokin george Posted May 15, 2020 Share Posted May 15, 2020 1 minute ago, irv said: It's hard to tell from your pic George, but I'd look into things a bit more before passing this off or selling it? https://www.youtube.com/watch?v=pzeIl0IzUfM https://www.youtube.com/watch?v=76Mo3ZSb1kQ I looked it up and something to do with a clear S on it or the blob on the S. Apparently it's $30-38 and if mint much higher. I'll take to our friend that's a coin guy to see 1 Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted May 15, 2020 Share Posted May 15, 2020 6 hours ago, frenchy said: he handed Trudeau the keys to an economy that was breaking even. Trudeau promptly added $80B in new debt in a time when the economy was humming along nicely before this even happened. Brain dead mush mouth. ; 7.8% unemployment 12k stockmarket in massive decline both turned into record results not seen before I know this is bad n your eyes but that is okay just imagine if we today had the grace of very high oil prices we improved without it something again Canada hasn't done before. Imagaine if Alberta wasn't pulling the country stats down in their oneway job province Just vote CPC doesnt' matter who the leader will be I am sure you will love them no matter how bad their stats are like Harper Quote Link to comment Share on other sites More sharing options...
toslow Posted May 15, 2020 Share Posted May 15, 2020 16 minutes ago, 1trailmaker said: 7.8% unemployment 12k stockmarket in massive decline both turned into record results not seen before I know this is bad n your eyes but that is okay just imagine if we today had the grace of very high oil prices we improved without it something again Canada hasn't done before. Imagaine if Alberta wasn't pulling the country stats down in their oneway job province Just vote CPC doesnt' matter who the leader will be I am sure you will love them no matter how bad their stats are like Harper so i guess the PC can't be counting on your vote this yr? Quote Link to comment Share on other sites More sharing options...
irv Posted May 15, 2020 Share Posted May 15, 2020 41 minutes ago, toslow said: so i guess the PC can't be counting on your vote this yr? Trail will try and tell you different, but he's the biggest Liberal fanboi there ever was. Now, if Trudeau were to step down, that may change slightly because Trail can't get enough of him, but I highly doubt it. 1 Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted May 15, 2020 Share Posted May 15, 2020 (edited) 1 hour ago, toslow said: so i guess the PC can't be counting on your vote this yr? they don't have a leader or a platform so not sure how anyone could say they will vote CPC unless they do so every time. I voted Harris and Harper and Mulroney - how about you I am going to say yes Also Preston Edited May 15, 2020 by 1trailmaker Quote Link to comment Share on other sites More sharing options...
mtnloverxtreme2 Posted May 15, 2020 Share Posted May 15, 2020 2 minutes ago, 1trailmaker said: they don't have a leader or a platform so not sure how anyone could say they will vote CPC unless they do so every time. I voted Harris and Harper and Mulroney - how about you I am going to say yes Also Preston i dunno man. seeing you running to lil potatoes defense like one of pavlovs dogs? i dont understand how you can see anything in this dolt. and fwiw as a good tory, i voted for martin back in the day.lol Quote Link to comment Share on other sites More sharing options...
irv Posted May 15, 2020 Share Posted May 15, 2020 7 minutes ago, mtnloverxtreme2 said: i dunno man. seeing you running to lil potatoes defense like one of pavlovs dogs? i dont understand how you can see anything in this dolt. and fwiw as a good tory, i voted for martin back in the day.lol It's Trudeau's hair and brutal handsomeness that Trail is smitten and blinded by to all the idiocy Trudope and the liberals do. There is no other explanation that I can think of? Quote Link to comment Share on other sites More sharing options...
1trailmaker Posted May 15, 2020 Share Posted May 15, 2020 1 minute ago, mtnloverxtreme2 said: i dunno man. seeing you running to lil potatoes defense like one of pavlovs dogs? i dont understand how you can see anything in this dolt. and fwiw as a good tory, i voted for martin back in the day.lol we will see when a leader is elected, if it is Mackay I don't see him offering much and don't see him helping on the world stage which is important to the job at hand - the OAS thing Harper did really pissed me off.. Saying taking 15k from seniors is the only way to save Canada The top ministers in liberal party are pretty good at what they do. Fortunately over the decades our Finance Ministers have been very good for the most part. Trudeau gave a huge gift for the other leaders to win the last election, really only an idiot could have lost that one - Scheer managed that quite well a good example of ONEWAY is Alberta with 44 years of PC control and the cupboards are bare and they still are voting PC and crying for Trudeau to do what Harper didn't do .. Truly amazing how Alberta thinks Quote Link to comment Share on other sites More sharing options...
ManOnManOral Posted May 16, 2020 Share Posted May 16, 2020 One issue voter....weed. Steve puts weed above all else. He is addicted to it. 2 Quote Link to comment Share on other sites More sharing options...
Sksman Posted May 18, 2020 Share Posted May 18, 2020 So the tragic Snowbirds crash and death of one team member raises 2 questions for me. 1. How does flying jets around the country help to reduce our carbon foot print? 2. With such a high death rate among the team members and potential injury to people on the ground due to a needless flights will this program be completely shutdown? Justin Trudeau is a hypocrite if he does not stand up today and completely shutdown this program that creates very high carbon footprint and kills citizens. For the safety of our population we need it shutdown. Higher death rate then assault rifles among users. And if that plane crashed into an apartment or house what would have happened? Quote Link to comment Share on other sites More sharing options...
ManOnManOral Posted May 18, 2020 Share Posted May 18, 2020 12 hours ago, Sksman said: So the tragic Snowbirds crash and death of one team member raises 2 questions for me. 1. How does flying jets around the country help to reduce our carbon foot print? 2. With such a high death rate among the team members and potential injury to people on the ground due to a needless flights will this program be completely shutdown? Justin Trudeau is a hypocrite if he does not stand up today and completely shutdown this program that creates very high carbon footprint and kills citizens. For the safety of our population we need it shutdown. Higher death rate then assault rifles among users. And if that plane crashed into an apartment or house what would have happened? Just shut the fuck up. Quote Link to comment Share on other sites More sharing options...
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