If there were Aliens watching our news casts from a high above, they may think that the people of the Earth exist in a perpetual state of short term memory loss and suffer from a need to look at and collect shiny things.
Within our corporate media, there is little effort to connect anything from a year or two before, let alone even a month before.
Our news lives in the now, the past is blase' and old hat?
Those who forget history, are truly fucked.
Here is what can reasonably be said about Canada’s experience since 2008. Canada avoided bank failures and a generalized financial meltdown – primarily thanks to banking rules and practices in place for many years. Countries that did experience bank failures and financial crises endured massive economic consequences. Countries that didn’t performed much better; Canada, thankfully, is in that group. Yet among the countries that avoided bank failures, Canada’s performance has actually been subpar.
In his first budget as Harper's finance minister, Jim Flaherty invited "new players" -- that is, U.S financial corporations -- into Canada's mortgage insurance market and doubled the amount of government money available to back up private insurers from $100 billion to $200 billion. Flaherty's 2006 budget states that "These changes will result in greater choice and innovation in the market for mortgage insurance, benefiting consumers and promoting home ownership."
In response to a pessimistic Merrill Lynch report on Canada's housing market, for example, Harper said "We don't have the same situation here with the mortgages as was the case in the U.S. with the subprime mortgages there. So, therefore, I think that our market is in a much stronger position."
And of course, it brings me to this one. I shall brush the cobwebs off for you....
We bailed out the banks. BIG time.
The 64 billion dollar budget deficit should come as no surprise.
It is directly related to a 75 billion dollar bank bailout program for Canada's chartered banks, announced, virtually unnoticed, four days before the October Federal election.
The bank bailout received close to no media coverage; its budgetary implications were not analyzed.
In a statement by Prime Minister Harper on October 10, the bank bailout was casually presented as a commitment by the Federal government to purchase an initial $25 billion in "secure" bank mortgages from the Canadian chartered banks. The transaction would be implemented through Canada Mortgage and Housing Corp:
According to the Harpercons, they are the only ones who can save us from the global fiscal economic crash. Aw.
Considering they had us into deficit territory before the global fiscal economic crash to start with, that takes chutzpah.
But, considering the average attention span of Joe Canuck, which is fed by the media, it's not so surprising.
Oh, Look, a SHINY thing.
Shutting down parliament, twice. Because it was more convenient than answering questions.
Contempt of parliament?
Only 35% of Canadians voted for them, but they think they can keep the elected MP's of the other 60 some percent in the dark.
Slander, smearings, politically motivated firings. -Defunding groups that advocate for women or minorities, etc. You know, the left wing fringes....
It was ok when it was Steve, apparently. Now that he's not doing the invites, its Bad.
CBC actually covered the coalition deal the other night and concluded that Harper is not being forthcoming. So polite and all.
Liar, is the correct terminology.
Funny though, adscam lives on, while Harper and his crony laced government have wasted and squandered far more than $100 million.
Ah well. Ignorance is bliss, and as a country, we sure got plenty of that. Or collective amnesia. Or we are just a society with a penchant for shiny things. Or all three.
Keeping it simple? We are fucked.