Jack

There’s a point where politics intersects with your money. We crossed it last night. In case you missed it, the latest polling shows that seven days from now Jack Layton will be prime minister.

Well, almost. Here’s the scenario, according to Ekos Research – Harper 131, Layton 100, Ignatieff 62, Duceppe 14. To govern with a reduced minority, the Conservatives would need the support of either the Libs or the Dippers, since the Blocheads are now a spent force. But, of course, Stephen Harper’s already had a five-year-long chance, so kiss that goodbye.

Infinitely more likely, Iggy eats his ego in return for Liberal cabinet seats in an NDP-led government. The guy with the stick and the stache gets the corner office on the third floor of Centre Block.

A month ago this was unthinkable. A week ago it was merely absurd. But in the wake of abysmal, bereft-of-testosterone, wooden campaigns by the main parties, Layton suddenly smells like the only choice for a lot of people. Especially in Quebec, where separatism’s fini.

But credit where it’s due. Jack Layton, recovering from hip surgery and prostate cancer, has looked like a prizefighter compared to his opponents. He’s connected with younger voters by knowing what a hashtag is, run a far superior campaign to Ignatieff’s and is now benefiting immensely from being the target of attack ads from both the Libs and the Cons. Besides, he’s the little guy – just perfect for a pissy nation.

But what would a Layton-led government do to the economy, housing, jobs and the markets?

Well, here is the NDP platform. As of 8 pm last night, it’s required reading. The Dippers plan to increase federal spending by $9 billion in the first year, then $12 billion and up to almost $15 billion by 2014-5. Big ticket items would include giving $1 billion to small businesses that create jobs, another billion to family caregivers, a billion for childcare, $700 million in removing federal taxes off home energy, $1.3 billion extra for education, and a host of other initiatives.

The green agenda would cost $3.5 billion extra in the first year, and be paid for entirely by a cap-and-trade system. This imposes a tax on emissions, through establishing emission limits by industry. Companies which achieve or exceed targets can sell credits to those who don’t. So, you either comply with stricter pollution guidelines, or you buy your way out of them. This is expected to raise $3.6 billion in year one and $7.4 billion in 2014.

Of course, those cap-and-trade billions have to come from somewhere. That’s corporate earnings. Economists think that will gut job creation. Market watchers think it’ll suck off earnings and crash stock prices. Environmentalists say, thank God. Or Jack. Whatever.

As for those non-green expenditures of $9 billion and up, the NDP would pay for them in two major ways: Raise corporate taxes to 19.5% (that’s an increase of about 18% from current levels), plus end subsidies to oil producers. Together those would bring Ottawa another $8 billion.

Of course, people in the Alberta patch will tell you it would virtually shut down the oil sands. Combined with the emission targets on existing heavy oil producers, they say, it would be lights out for companies like Suncor. At least then this blog would be spared emails from 30-year-old engineers making $170,000 a year in desperate Fort Mac.

So, in summary, the Dippers have promised – if elected government – to spend about $13 billion a year more than now, and to pay for it with $12.6 billion in new taxes in 2011-12, rising to $15 billion in taxes by 2014-5.

Now if this is what most people want, that’s what they’ll get. I’m not being judgmental, because both the Libs and the Cons have let people down dramatically, not only in this campaign but over the last two do-nothing years.

But Prime Minister Jack Layton, even tempered a bit with Liberal partners, would send a signal to the world that Canada has flipped. At a time when governments are trying to cut spending, unshackle business investment, tackle obese deficits, lower taxes and desperately create jobs, we’d suddenly turn into a giant Denmark with too many beavers. And Tims.

Likely results: a big drop in the dollar and a big jump in interest rates. Alberta could be a wilderness park while Ottawa could swell to be a province. And just imagine how all those house-horny Chinese in BC would feel about escaping communism to enter Laytonism.

Oh, and we could all stop bitching and moaning about the date of the real estate bust.

It’s Monday.

340 comments ↓

#1 North of Milton on 04.25.11 at 9:49 pm

Wow – first one!

#2 Chappy on 04.25.11 at 9:57 pm

NDP get elected with a minority government, start the Alberta Separatist Party. Unlike Quebec, Alberta will not sit quietly through another government that cripples the oil patch.

#3 S.B. on 04.25.11 at 9:59 pm

Wow this a political blog ;)

Hopefully in top 5 tonight…

#4 Joe Q. on 04.25.11 at 10:01 pm

There’s a world of difference between a minority and a majority government in terms of platform implementation.

#5 martin on 04.25.11 at 10:01 pm

very educative!! greate political view

its good sometimes to put a blogg other then real estate mr turner

regardz

#6 Patiently waiting on 04.25.11 at 10:04 pm

Sorry Garth, but wont increased spending by NDP mean more jobs short term therefore more money for people to pay of debts delaying any property correction?

#7 drawstring on 04.25.11 at 10:04 pm

I remember the NDP Rae days in Ontario. Labour killed him over that, I thought it was a good idea to reduce spending. I worked in construction long enough to know that having one or two days off isn’t the worst thing in the world.

I’d like to give Jack a chance.

#8 ontheshoreline on 04.25.11 at 10:06 pm

Holy crap,Batman!
All I can say is federal politics will be irrelevant in the long emergency.local will rule.no globalization.grow your own.

#9 Not a SUN up the rear puppet on 04.25.11 at 10:06 pm

“the NDP would pay for them in two major ways: Raise corporate taxes to 19.5% (that’s an increase of about 18% from current levels), plus end subsidies to oil producers. Together those would bring Ottawa another $8 billion.”

Bravo NDP…..Wow the Corporate Conservatives are all about taxes cuts for the RICH corporations/oil companies and NDP is all about working families. I don’t know about you people but I am working class and I vote for my best interest. The corporate media? the sunsine of propaganda paper will tell you CONservatives are better since they serve CORPORATE interests. Wake up you brainwashed SUN up the rear reader and learn to think for yourselves. ANYONE but the CONs

#10 Boombust on 04.25.11 at 10:06 pm

NDP?

Hell, why not? I’m fed up with all the other morons out there. Let’s give them a chance.

ANYTHING/ANYone but Harper. Pleeeeze.

#11 roy.stacey on 04.25.11 at 10:07 pm

WOW a political opinion. Not knowing Canadian politics, I’ll just say many of our politicians don’t perform as advertised once the campaigning is done.

A refreshing exception to this habit is our current WI governor. That SOB has performed EXACTLY on par with his campaign rhetoric. Seems more than a few who voted for him are now rather peeved.

I voted for the opposition.

Careful of what you wish for…or vote for.

#12 Marie on 04.25.11 at 10:08 pm

I’m not a fan of Layton at all, and I don’t want an NDP government. But you forgot to mention that any scenario that votes out Emperor Harper will also signal to the world that Canada is back from the fringe.

We, of all people, are the last democracy in the world with an evangelical neo-con government. The Americans got rid of Bush/Cheney, the Australians got rid of Howard.

Harper isn’t a conservative, he just stole the name.

#13 Mr. Lee on 04.25.11 at 10:09 pm

From what I have seen over the last decade, the left right dichotomy means less and less when it come to the policy of governing. Right wing and left wing parties become mirror images of one another. Look at Mr. Obama, change we can believe in.” Yet El Presidente is more out of step with Americans’ wants that George W whatever his name is.

Layton will toe the line if he makes it, and if he wants to keep it. Remeber Jurassic Clark.

#14 ayn rand on 04.25.11 at 10:09 pm

The Ontario Provincial NDP won a majority in 1990; so yes anything is possible when people are not definitive about who they want in. When the electoric has poor choices, the NDP looks like an interesting option – as they don’t want the others in.

I personally like Jack; he was in my riding back when I lived in Toronto 5 years ago. Him and Steve Page from Bare Naked Ladies, were very hopeful; idealistic.

Personally, when I first got passionate about federal politics I was 16 (and Joe Clarke got the boot with his 16 cent gallon gas increase). Was equally passionate during the University years (and yes, woefully worked with Brian M and his brother Gary in Sept Iles, Quebec in 1984). Now, I really don’t see much of a difference; the Tories brought in the GST; Liberals kept it, yada yada yada. Now we have the provincial Libs in Ontario who endorsed the HST.

Parties do what they must do, regardless of their affiliation – would you agree Garth? Now I vote for the most interesting candidate, irrespective of their party. If I even vote at all. ….

#15 The Phantom on 04.25.11 at 10:12 pm

Evening Garth:

Wow! They say that timing is everything (both for me and Layton; although I won’t be first tonight because I have a few words more to enter than those ones that type those five letters before hitting “Submit”.

I am going to refrain from making a judgement on those contenders to the position of power except to say this: It is a curious irony that the party that depicts itself as the fiscally responsible choice ran record deficits in the mid to late ’80’s (Mulroney) and then again the same party (transformed and resurrected from the ashes of the PC and the Reform) took a budgetary surplus once in power and turned it into another record deficit…Granted however they did this within the context of a minority government so there is plenty of blame to go around…

I know they are different entities (the PC and the Conservative Party of Canada) but each one occupies a position on the right of centre…I also know they embrace the path of “starving the beast” but my belief is that there are better ways to make government smaller than by overspending for a few years to justify cuts to the public service…simply paying down debt and instituting a hiring freeze would intuitively seem the most constructive approach…then again what do I know as I only have my BA, my teaching Certificate and my Commission to offer as credentials…weak endorsements in the worlds of national finance.

I voted through an advance poll last week but back home where I live, the ballot means little one way or the other. I vote because then I believe that allows me the right to complain a little here and there or grumble from time to time. Democracy and the right to choose our governments are an entitlement many have fought and died for and we do their memory justice when we exercise that right regardless of the sentiments we may feel about the futility of it all. Have a great week, all…

The Phantom

#16 Игорь on 04.25.11 at 10:14 pm

Я первый!

#17 Signpost in the bushes on 04.25.11 at 10:15 pm

The number one country, as best place to live…Denmark! Perhaps it’s not the best place for individualistic, gun owning Hummer drivers(?).

#18 Don't Believe The Hype on 04.25.11 at 10:16 pm

Scary stuff. Nothing against Layton personally, but if such an agenda becomes reality, it would cause Canada to fall off the cliff both fiscally and economically on so many levels, it’s not funny. I wonder how much the mainstream media has to do with Layton’s “sudden” surge though. Isn’t it human nature to go with the winner?

#19 Fellow Calgarian on 04.25.11 at 10:17 pm

CalgaryRocks – A couple blog posts back, you made a comment that “only losers want to trade with a salary”. I challenge you to defend that statement. My personal salary is more than the median FAMILY income in Calgary, and my bonus each year has never been less than 20% and some years in excess of 100%. Many I work with come from places like Goldman, Bear, etc. Roughly 15% of the traders on our floor have had at least one year where they were bonused over 7 figures.

The trading mentality that comes with financial security is very different than the trading mentality inherited by someone at Swift who has to make the mortgage or else. If their quarterly bonus doesn’t cut it, they’re hooped. You make far better trading decisions when your house isn’t on the line.

What gives you this insight that I’m a loser for trading on a salary? That doesn’t exclude me from trading at home for 100% of my gains after I’ve been bonused out for the year, and I’m damn good at what I do.

#20 LB on 04.25.11 at 10:17 pm

Well so much for your restraint in avoiding politics on this blog during the election,Garth.

I’m hoping Harper gets an even smaller minority government, with the NDP holding the balance of power, just so he has to be accountable for his party’s actions to date, doing what it intended to do all along – ie following its masters’ bidding to empty the public coffers of its nice fat surplus in order to benefit and bail out corporations,business,the financial sector and CMHC,resulting in a massive deficit that will now be addressed in one way, by ANY incoming government.That is, through attempts to raise taxes and cut benefits and services to the masses.

I want to see Harper have to personally face Canadians who,as their standard of living is decimated, take to the streets around Parliament Hill, just as citizens of England, Ireland,Europe, the Middle East and the US are now doing in similar circumstances.

“Cause, Effect,and Restitution” is a necessary and righteous concept,particularly when it is applied to individual politicians.

#21 Cranky Dad on 04.25.11 at 10:18 pm

Promises, promises, election promises. When have they ever been honoured? Still, it is a worry, something like: what will the engines for the new fighter jets cost on top of the announced cost of the aircraft, and how the heck did they really spend that billion dollars on a weekend G20 meeting? How fortunate parliament shut down just before that report from the Auditor General was to come out. Excuse me, I’m Cranky.

#22 watertower on 04.25.11 at 10:18 pm

It’s just been so bad, the picture you paint seems pretty good. Besides I aspire to a Canada more like Denmark and where social and environmental benefit can be part of a strong capitalist economy. We are smart and imaginative beings are we not? We are capable of thinking of more than one thing at one time right? It’s called the triple bottom line. a good triple bottom line.

#23 Horse race on 04.25.11 at 10:19 pm

… And Smitherman and Ford were neck and neck according to the pollsters, too.

#24 dd on 04.25.11 at 10:21 pm

,….Of course, people in the Alberta patch will tell you it would virtually shut down the oil sands….

BS. It is all talk. Shut down oil and shut down the fible recovery in Canada. Like all pols … talk until you get elected. Then do nothing.

#25 S.B. on 04.25.11 at 10:21 pm

“So, in summary, the Dippers have promised – if elected government – to spend about $13 billion a year more than now…”

13 billion? Sheesh that won’t even buy a few F-35 jets.
Chump change. 13 billion will maybe build a few jails to cope with our crimewave.

13 billion is like a rounding error to the Feds. However I do not support this cap n trade greenwashing stuff.

#26 Makes Cents on 04.25.11 at 10:22 pm

Here’s one Alberta girl who will be on Mr. Layton’s side May 02. Hope there are major changes to the CRTC. As for the oil sands, no party is going to shut down oil.

#27 JohnnyBGood on 04.25.11 at 10:22 pm

Ontario had Rae Days. Canada will have Lay Days! As in, we’d all be f*!K’d!

#28 Andrew on 04.25.11 at 10:24 pm

A rise in interest rates AND a drop in the dollar? Huh?

#29 buy real estate in US on 04.25.11 at 10:24 pm

well, there is still a week left and that’s a lot of time for things to change. in the event of a NDP-liberal victory, one would hope that the liberal fraction of gov would water down the proposed spendings. Also, Jack might be running from the left but will probably end up governing from the centre.

#30 Aizlynne on 04.25.11 at 10:24 pm

All the choices suck Garth .. each and every one of them.

I am personally voting for my cat Reggie. He hates it when I pay more in taxes as it cuts into his toy and treats budget!

BTW … can anyone tell me exactly what gets people so frickin excited about being “first”? Is it the lack of a full life or what exactly?

#31 Joseph [original] on 04.25.11 at 10:25 pm

An NDP government – not a chance. If anything the NDP surge will split the left vote down the center giving numerous Conservative candidates the ability to squeak in victories in previously unwinnable ridings, possibly giving the Conservatives the majority government they are looking for.

#32 Glasnevin on 04.25.11 at 10:25 pm

Garth
Love the blog! Your thoughts are very well directed in these times of turmoil.
NDP-led government? Running a deficit of an additional one or two billion according to your numbers?
Bring it on!
Harper and Flaherty have proven their incompetance over the last five years. Too many examples.
But what will unhinge Canada is Nafta version two. SPP. The NDP are the only party to speak against this further attrition of Canadian sovreignty.

#33 dd on 04.25.11 at 10:27 pm

…Likely results … Alberta could be a wilderness park…
”””””””””””””””””””””””””””””””””””””””””””””””””””
Garth is back with his best fear mongering. Good to see that you are trying to get everyone worked-up.

#34 Aizlynne on 04.25.11 at 10:27 pm

All of the choices suck … that’s why I am going to vote for my cat!

BTW Garth … why do certain people on your blog wet themselves over being first? Are they missing out on a full life or something???

#35 byder on 04.25.11 at 10:29 pm

When the NDP created their platform they didn’t really expect to form a government. Who would have thunk it? They can blame the Liberals for later having to indefinitely postpone these unaffordable promises. Nobody thinks Mr Layton is stupid after all.

#36 Fade To Black on 04.25.11 at 10:30 pm

It smells like summer 1972 in BC when the old Social Credit guard was turfed by the fresh NDP. It worked for about 6 months and then a grim sense of ‘what have we done set in.’
If Layton wins, he may make some good changes but… we taxslaves may pay off the bill in two future generations.

#37 Special-K on 04.25.11 at 10:31 pm

Wow, Canada might actually have a future. I feel all fuzzy now.

#38 realinvestor on 04.25.11 at 10:33 pm

Great post again Garth. A little different from your usual real estate. Keep up the good work with your blog

#39 Cash is King on 04.25.11 at 10:35 pm

Was this not tried in Ontario a decade or two ago?? Or in BC after that???

“Layton Days” does not have the same ring as Rae Days

Agreed that the BIG 2 have failed miserably in promoting their message

#40 not 1st on 04.25.11 at 10:35 pm

Those poll results have to be whack, Jack. Layton looks like an aging porn star on a revival tour. If those socialists get that kind of support, then I know Canada is really off the rails.

#41 The InvestorsFriend (Shawn Allen) on 04.25.11 at 10:40 pm

Fine then, let the NDP form a government and tax and spend.

I don’t really care. Why?

Mostly because my economic well being does not depend of the economic health of Canada. I will do just fine come what may.

I’d like to vote Conservative to help prevent an NDP government. But I don’t trust Harper and he does not deserve my vote.

I may just go ahead and spoil my ballot. After all, there is no “None of the Above” Box. A spoiled ballot may send the right message.

It’s all amusement to me.

Maybe I will help elect the NDP just for a laugh.

#42 Tim on 04.25.11 at 11:38 pm

Garth,
are you on crack? How could Alberta become a wilderness in the park, when oil is at $111 a barrel and will continue to rise? What other oil producing nation has the stability of Canada? OK, I know we have a dishonest, neo-con PM, who has no respect for democracy, and has cabinet members facing legal charges, and has stacked the senate, has contempt for the law, his cabinet members are facing jail time…
http://www.oyl.org/2011/03/10/harper-has-no-respect-for-democracy-or-for-you/

#43 bsallergy on 04.25.11 at 11:39 pm

Damn! My party of choice might win. I was hoping for a bare selfservative majority if only to see them in power when the nonsense they have wrought came home to bite them. Would be a pity to see someone else in power when the hosing (crap meant housing) bubble popped and we joined the rican/can’t happen here/we’re so much better/we’re more responsible selfservative housing bubble popped . . .

#44 Tim on 04.25.11 at 11:40 pm

The NDP will never form a government, no matter how corrupt and distrustful the current PM is.

#45 The InvestorsFriend (Shawn Allen) on 04.25.11 at 11:41 pm

INDIVIDUAL CANDIDATES ARE IRRELEVANT

Sadly, it does not matter who runs in your riding.

We are governed by Party not by backbenchers.

Even Cabinet Ministers must tow the Paty Line.

Therefore we should vote by Party and Party Leader.

Then again none of the Partys and leaders appeal to me.

#46 AxeHead on 04.25.11 at 11:42 pm

What the heck is wrong with this country? Why have all the socialist mellon heads gravitated to this web site. Socialism, in all of it’s ugly forms, especially communism is a failed political system. It is based on pilferage, whereby money earned is distributed to others who do not earn as a means of attempting to make everyone equal. It doesn’t work, has never worked, and becomes a nightmare.

Jack is getting sympathy votes, that’s all. He still holds a socialist platform that will destroy this country – the NDP almost destroyed Ontario, have held Saskatchewan back for decades, and is a breeding ground for creeps in BC, and the lack of which has made Alberta an economic success.

The picture Garth has painted is scary indeed…God help us.

#47 Cato on 04.25.11 at 11:42 pm

Hope the socialists win, let em run the country off the rails – might finally wake people up to fact our prosperity is not the result of authoritarian government regimes passing out goodies to the masses. A lesson for future generations that freedom & liberty is what drives prosperity & opportunity.

I’ve had both local NDP & Liberal candidates knocking on my door espousing need for tax hikes, of course they know exactly how to grow the economy without ever having owned a business or worked a job where pay is based on merit. In their little world the economy revolves around gov’t.

Here’s the counterpoint. The country is in far worse shape then anyone realizes. Most millionaires in Canada are self-made, but that fact is deceptive. Dig a little deeper and you’ll find the US influence behind that wealth. A Canadian with a good idea usually ends up seeking capital investment from US investors, or if the business was able to bootstrap itself domestically it usually only grows into profitability with access to US markets. The currency debasement the US is now undertaking has two purposes – deflate an unsustainable debt and put the american worker on a more competitive footing. The net effect will be to poach Canadian entrepreneurs and talent for US benefit, and sap tax revenue & jobs from the country.

Proponents of big gov’t conveniently forget the law of diminishing returns. Tax removes the incentive to earn. We live in a world of global capital markets. Why make the personal sacrifice, put up with the frustration of endless red tape & take the financial risk running a business entails when you can make a better rate of return with the click of a mouse and instantly deploy capital around the globe.

Canada has reaped the benefits of a free market economy that was likely not deserved thanks to simple geography & currency manipulation. Finally get to see if the country really has what it takes to make its way in the world. Its not looking good.

#48 Timing is Everything on 04.25.11 at 11:44 pm

And Bernard would know one when he sees one….

“Mr Madoff, who at the height of his wealth had numerous homes, a plane and a boat, also describes the reform of Wall Street since the financial crisis as a “joke.” The whole government, he said, is a “Ponzi scheme.” ”

http://tinyurl.com/3eezwru

#49 The InvestorsFriend (Shawn Allen) on 04.25.11 at 11:45 pm

YOUR VOTE WILL NOT MATTER

It’s politically incorrect to say it but it is mathematically obvious that the vote of any one individual is extremley unlikely to decide the outcome in a single riding let alone the outcome of which party wins the country.

We need people to vote.

Yet each single one of us, if we are honest must conclude that our own vote is largely a waste a time. It will make us feel good but will not change the outcome.

It’s paradoxical. It’s uncomfortable. But it is mathematically undeniable.

#50 josh on 04.25.11 at 11:46 pm

the effects on layton getting in would crush Alberta…..unless the americans have some serious pull. yikes,

#51 mel on 04.25.11 at 11:52 pm

Hey listen now, what do we have to loose. We already did. The last five years with Harper was a experience I do not wish to put up with anymore.

Let’s try something new, shall we? Lower dollar, higher interest rates, sounds good to me. I have been loading up on the usd. Maybe all that us dollar collapse will be replaced by our own.

At the end of the day, they all become the same recycled newspaper.

#52 CalgaryBoy on 04.25.11 at 11:53 pm

I’m actually very excited about this news! Maybe we should give Layton and the NDP a chance! We all don’t trust Harper. Ignatieff has been a let down and couldn’t control himself during the debate. Everyone thought Layton won the debate. He’s got a great platform! I’m highly considering changing my vote from Liberals to NDP next week!

And I agree with the increase in corporate taxes! Why should the rich get richer?

#53 epimetheus on 04.26.11 at 12:00 am

Garth,
Would an NDP-led government (improbable as it still seems) cause *that* much havoc with its fiscal policy, especially when our southern cousins have such a head start down that path?
If demand for commodities remains half-decent, and the situation in the US remains dire, it would be difficult to see that many companies moving away.

And if the Canadian dollar drops in value due to insane fiscal policy… wouldn’t that actually have the perverse likelihood of creating jobs by making our exports cheaper and thereby diminish our cost-of-manufacturing?

Just wanting to get a sense of the probable relative effects of capital flight vs. currency depreciation. Thanks.

#54 islander on 04.26.11 at 12:00 am

A corporate tax rate of 19% would still put the Canadian rate 16% lower than the current US rate. The problem is not so much the nominal rate, but rather the fact that most large companies marginal rate approaches zero and so taxation in Canada falls on individuals instead of corporations. I’m not an NDPer, but anyone but Harper.

#55 Flyfisher on 04.26.11 at 12:04 am

I tend to sway between the Libs or the Cons, but I actually trust Jack. First time NDP voter!

#56 Jane on 04.26.11 at 12:06 am

#32 Fade to Black I’m with you. History repeats itself time and again. There ought to be a ‘none of the above’ box on our ballots.

#57 Kitchener1 on 04.26.11 at 12:08 am

LOL, jack offered boomers a huge rise in pensions.

I dont know about jack getting 100 seats, Quebec would have to totally switch over for that too happen.

On a personal level, Jack connects with the populace.

Come on, Harper is running a “bubble campaign” only answers 4-5 questions a day, never goes onto to a street, he only talks in arean;s that already have a pro con crowd– that guy is starring in his own mini movie version.

Iggy at least hits the streets but he has got no chance, he is too much of an elitist to ever connect with average joe’s on the street.

It will be interesting. One thing is for sure, the libs and ndp will get their vote out. the Con;s will not be able to get a bigger vote out then last time.

I can say that Kitchener Center and Kitchener Waterloo, both riding went Conservative by 250 and 60 votes last time around are going the be Liberal.

#58 Tim on 04.26.11 at 12:08 am

I’m not for Layton or Ignatieff, but I cannot in good conscience vote for the Conservative-Reform-Alliance-Party. The C.R.A.P. leader is a poorly animated zombie, driven by the will to power and ingrained malice, not by a desire to govern responsibly.

I wish I could vote Bloc Quebecois here in BC. Then we could separate and form a pleasing union with like-minded knuckleheads and make mistakes that make perfect sense to our regional sensibilities.

#59 Timing is Everything on 04.26.11 at 12:08 am

#38 Timing is Everything

Calvin Hobbs…I thought I’d let Bernie Madoff define a ‘Ponzi’. Mostly posted 4 U.

#60 Jane on 04.26.11 at 12:08 am

Garth, regardless of your opinions, your writing is fantastic! Thanks for the laugh!

#61 Ralph Cramdown on 04.26.11 at 12:09 am

It seems rather unfair to blame Jack as the trigger for a housing correction you’ve been predicting all along.

I certainly wouldn’t look forward to an NDP government, even with the compromises I know they’d have to make, but I’d enjoy both the Liberals and Conservatives getting sent to the woodshed and having to find new talent within their ranks.

I would like to watch Harper try to govern with the support of the NDP — Jack driving the bus, on pain of Steve switching sides of the house with him. It’s what the Liberals should have been doing all along, but they were so weak they didn’t dare threaten an election.

#62 BROMANCE on 04.26.11 at 12:09 am

Rearranging the chairs on the Titanic while the World Wide FIRE economy ponzi scheme sears a black debt hole in our future. Let the artery clogging Olive Garden, politics and sports be our bread and circuses. We wouldn’t know what to do if a politician wasn’t lying to us. In fact, we demand to have billions spent on political campaigns so that the falsehoods can be disseminated to every corner of the Globe. The blasts of BS, lies and hot air can drown out the sounds of the foundation cracking and the walls creaking, straining to hold back the inevitable consequences of our blindness and indifference.

#63 nonplused on 04.26.11 at 12:12 am

I hate talking politics! It’s like talking religion, only we can’t all agree what God provides. At least with religion, you know whatever it is, it’s good, and you won’t see it in this life, so you don’t need to worry about anything but whether you have the right God. I personally subscribe to 3 to “diversify my portfolio”, and one of them is the Jewish-Christian-Muslim God so it’s actually 5 subscriptions in total (sneaky rent seeking bastards). I feel like a US banker who has to offer unlimited campaign money to both sides of the political spectrum, only there are 5 sides.

But if we are going to talk politics, Garth, I have no quarrel with your doom and gloom scenario if Layton can form a government. But to play devil’s advocate, there are 2 reasons why this might not happen: 1. The twofaced Bloc and the Liberals might go with Harper anyway out of sheer fear of the NDP agenda, and 2. There is still a week to go. The prospect of a Layton government might scare the voters enough that we end up with a small Conservative majority. Lots of stuff still to come, should be an interesting week.

But on the other hand, a shift to the NDP shouldn’t be that surprising given demographics. The boomers, who wanted lots of government benefits but didn’t want to pay in full for them, are nearing retirement. So now they want even more benefits and they don’t want to pay for anything. So anything can happen.

There should be a rule in politics that you are not allowed to be PM unless you are under 50. The idea being that you have to live with your decisions for at least 30 years. 40 might not even be a bad number. The problem is, to translate the French, “after me, the deluge”. People don’t care what happens after they get their share of the swag.

IQ testing wouldn’t be a bad idea either. And math. If you can’t describe the long term effects of an exponential process, you shouldn’t be allowed to make financial decisions. That last criteria leaves Harper the only choice, whatever you think of him.

Garth, there is another outcome of a Layton government you forgot to mention because you live in the center of the universe Ontario. If Canada elects an NDP government, Alberta will separate using the Quebec clause, and we’ll have it done in one provincial election cycle, which is already underway. Good bye national union. The Wild Rose party is gaining in popularity already just based on Farmer Ed’s lack of education and economic prowess. Put Layton in charge of Canada and therefore Alberta, and the consent of the governed is gone baby gone. This time we won’t ask BC and Saskatewan what they think, although Sask might come with us anyway. We don’t want BC this time. Bankrupt socialists every one of them. We’ll leave the rest of you to get by without your transfer payments. Oh wait! No transfer payments??? Alberta’s budget is in surplus for the next 1000 years! Yeah!!!

Of course Layton will declare war but we have all the planes and tanks here already, what’s in Quebec they don’t have the money to fuel up for a sortie over Alberta and won’t ever.

#64 Crazy on 04.26.11 at 12:13 am

Garth’s Brother: BOB

http://www.youtube.com/watch?v=Cr-cWGbGeFI

#65 Kate on 04.26.11 at 12:14 am

#15 Игорь
You forgot the hyphen.

#66 Caron on 04.26.11 at 12:16 am

What’s not to like about Denmark, Sweden or Norway? Norway has less oil than Alberta yet has a heritage fund thousands of times larger than Alberta’s.

Denmark has a state of the art smart electrical grid and renewable generation while Alberta is wallowing in coal fumes and stipping landowners of basic property rights going back to the Magna Carta all so the crony capitalists can build more coal fired electricity at public expense.

Oh, and a lower Canadian dollar would suit those of us in the export sector, including the oil sands, just fine thank you.

I’m not worried about Jack or the NDP.

#67 $froma$ia-The mother of all Bubbles on 04.26.11 at 12:19 am

Garth,

Your next thread should be titled:

“Doggy Style”

“The Missionary”

“Full on frontal”

“two in the pink and one in the stink”- Our Polititions Harpo, Iggy and Lil’ dipper.

Hope you get a laugh!

$$$$$$

#68 tkid on 04.26.11 at 12:20 am

If Layton gets in he will do to Canada what Bob Rae did to Ontario, only Canada already has one helluva national debt. This will tank the Canadian dollar, tank jobs (is anyone insane enough to think any business out there MUST operate out of Canada and will pay far too much in taxes when they can shift operations elsewhere in the world and save a major amount of $$$), and generally leave Canada vulnerable to anyone offering pauper rates for our natural resources (the Chinese have already stockpiled all they want).

Layton gets in, I get my savings the hell out of the dollar and the hell out of the country. I will break open the RRSPs, take the damn tax hit, and run. It’ll be a safer bet than let money I worked damn hard for be devalued to the point where it is worth nothing.

#69 nonplused on 04.26.11 at 12:21 am

Plus I forgot to mention if Eastern formerly Canada attacks Alberta all we have to do is hint that it might impact oil exports to the US and Ontario and Quebec would look like Iraq in a week.

Vote Layton if you like, but one man’s aspirations can divide a country. You won’t like that.

#70 Aussie Roy on 04.26.11 at 12:21 am

Aussie Update

The March quarterly figures show Unley Park prices fell by 49 per cent, with the median price dipping from $3 million, to $1.5 million, based on five sales over the same period this year.

http://eastern-courier-messenger.whereilive.com.au/news/story/time-to-buy-in-east/

THE increased cost of living and high house prices have resulted in first-home buyers delaying the biggest investment of their lives.

http://north-west-news.whereilive.com.au/news/story/house-buyers-hold-off/

Real Estate Institute of Victoria figures show that in the past year the clearance rate for Broadmeadows has dropped more than a quarter to 58.3 per cent.

http://hume-leader.whereilive.com.au/news/story/hume-house-price-dive/

SYDNEY’S great property divide is being turned on its head, with the wealthy Eastern Suburbs suffering a shock 15 per cent slump in property prices.

http://www.dailytelegraph.com.au/news/sydney-nsw/property-sales-are-heading-west-as-the-east-slumps/story-e6freuzi-1226044682715

As always of course this is not the start of any correction just a GREAT time to buy – LOL..

#71 Nostradamus Le Mad Vlad on 04.26.11 at 12:22 am


As long as it’s Liz (Green) and Jack (NDP), that cancels Iggy and Harper out, but I’m still voting Libertarian here, just for the hell of it. At least the candidate has never lied while in public office before.
*
#32 Fade To Black — “. . . we taxslaves may pay off the bill in two future generations.”

Taxslaves is a good choice for a new word, because whichever party takes the reins with a minority, we’re in the crapper regardless, mostly due to these stupid wars which Harper keeps telling us we have to fight. No, we don’t.

#37 The InvestorsFriend (Shawn Allen) had the best response — be self-sufficient, not too much nor too little, just enough to pay one’s own way in life.
*
Economy This will be a good time for China to tell the US to either shit or get of the pot. It may also be when China calls 2/3 of its loans back in cold, hard cash.

Talking Heads The politicos are certainly doing their level best to upset the applecart.

Into An Abyss runs the western fiscal system, and Jack, unknowingly, will play a major part in it.

Losing It The US and Japan have both lost, or are losing, to China. Gold, Silver and the US$ Two are rising; one is falling. What happens if all three tank to zero or shoot past the moon? The US$ — Why is anyone waiting to sell it? As Dad (Nostradamus Jr.) says, the US is in the process of bankrupting TROTW through continuous wars, and Here.

6:38 clip It appears Fukushima is in worse shape than Chernobyl.

AfPakLibyastan The west, by its own incompetence, has created another Af’stan. That turned out well for the USSR.

Drugs seem to have some positive side effects.

Endgame “If the US were a company, it’d already be in Chapter 11.”

Construction in Germany and Spain headed in opposite directions.

#72 Timing is Everything on 04.26.11 at 12:25 am

#169 The American

Agreed 100%. John Candy was super. I remember watching his movies with our kids when they were little. We all laughed a lot. His movies were really great for families to watch together.
Hell, we still love watching them.

p.s. Hope you guys won’t start a ‘cold’ war with Canada if the NDP form a Government. Canadian Bacon. ;)

#73 Vankouver on 04.26.11 at 12:27 am

Ah this brings me back to the dismal NDP Rae Days – where Rae was the most surprised person that he’d won the ON election. Those days were the worst economic times Ontario ever experienced when I was growing up …

#74 Ron on 04.26.11 at 12:28 am

You are dreaming in technicolor if you believe (or suggest) that the NDP will win 100 seats. Hello….credibility???

#75 meggie on 04.26.11 at 12:30 am

God help us if the NDP form the next government. Socialism NEVER ends well. Just look to Greece as just ONE example of how radical tax and spend politics destroys an economy.
Think that one through very carefully at the ballot box.

#76 Cherry Picker on 04.26.11 at 12:34 am

Devalue the Canadian dollar – about damn time. Sounds like a job creator to me.

#77 Timing is Everything on 04.26.11 at 12:35 am

Is there a ‘None of the above’ choice yet?

Aizlynne’s cat looks pretty good to vote for, at the moment.

#78 Blobby on 04.26.11 at 12:36 am

@#36 “not first”

You DO realise that our government is by definition socialist dont you? The ministers are paid out of our tax dollars.

And even under the conservatives – we live in a socialist country… If your wife has just been murdered but the police refuse to help as your insurance doesnt cover it. And if you go to the beach and need to pay an entrance fee, etc etc.. THEN we’re not living in a socialist country. Until then, we are.

But yet you’ve been busy watching fox news and have gotten wind of “socialism” being a bad word havent you?

Gawd i hate to see what it’s going to be like when sun tv starts…

#79 scottyd on 04.26.11 at 12:39 am

Marie @ #11 “The Australians got rid of Howard”.

And we are now sorely wishing we hadn’t.

#80 Gary in Alberta on 04.26.11 at 12:42 am

Fantastic and very sobering post Garth.

I think you (we) will way underestimate the fiscal effect of an NDP/ Lib government by miles as these guys have a real history of spending recklessly and discouraging investment in aggregate.

No need to look farther than Ontario, P.Q., and B.C. amongst others to see the kind of fiscal damage done at the Provincial levels over the years by the Libs/ NDP axis.

Nonetheless, bring it on. Harper isn’t trustworthy imho and i have supported the Conservatives for years and years on both levels.

I’ve already got out of my businesses for the most part and have been putting funds in precious metals so they can do what they want.

My introduction to Alberta was a direct result of one Dave Barrett, the first NDP Premier of B.C. and i did leave there because of that goverment and don’t regret it for a second.

Volatility is a real market maker and market changer and these guys will certainly bring volatility on in spades and perhaps even break the housing Ponzi Scheme big time if we are lucky enough.

Maybe if we are lucky enough, Layton could grant citizenship to one Gordon Brown from the U.K. and get hime to be our new Finance Minister, that way they could change the design on the Loonie to something like a Toombstone and rename it accordingly.

I hadn’t planned on voting and likely still won’t but if i did i would likely toss my vote to the Greens as one way or another it seems time for a serious change.

Good luck to all.

#81 Makes Cents on 04.26.11 at 12:43 am

#13 Shame on you if you do not vote. There are people who literally kill for this right.

#82 geogar on 04.26.11 at 12:43 am

lol… you’re funny Mr. Turner. You had your chance to join a winner back in ’07. Got fired from the Blue subsequently respectfully declined the Green and joined the Red team. You would make one handsome Orange minister of finance…. excellent blog seriously thanks for the insight..

#83 Devore on 04.26.11 at 12:43 am

#11⁠ Marie

Except no one outside Canada thinks we are some kind of fringe. Get outside your bubble, and get some perspective.

Corporations do not have the power to print money. Raising corporate taxes ultimately results in higher retail prices. I am sure everything will be fine for a while, the supply chain can absorb some increases, just like they have done with the recently increasing commodity prices.

So higher taxes will be passed on to consumers. To believe otherwise is to believe in voodoo economics. It will be passed on through higher prices in the stores, a hidden tax. Ironically, the worst kind of tax, a consumption tax. A regressive tax, bleeding heart liberals anathema. These taxes hit the poor and on fixed incomes the hardest. But I’m sure they’ll get it back eventually in tax credits, so it’s probably no big deal. Only the rich will pay.

Hey, don’t forget to vote, eh?

#84 Morry on 04.26.11 at 12:44 am

“Well, almost. Here’s the scenario, according to Ekos Research – Harper 131, Layton 100, Ignatieff 62, Duceppe 14”

I hope that comes to pass!

#85 vomitingdog on 04.26.11 at 12:44 am

Bears: you now know what you must do. Vote for Jack. You’ve nothing to lose but your stainless and granite.

#86 skip on 04.26.11 at 12:47 am

aaaawww, poor capitalists can exploit the working class and the earth as effectively with a NDP lead government. My hearts all broken up about it.

Surplus value (aka profits) expropriated by exploiting the working class, slightly taken back and going towards building a greater society sure sounds like a bad thing there Garth.

You have such humanitarian tendencies. No wonder why most Canadians don’t like Conservatives.

#87 Debtfree on 04.26.11 at 12:54 am

State Secret … seems a little MI5 . How about ….Beyond The Bubble .
Nice to see you got your sense of humor back.

#88 Chris on 04.26.11 at 12:55 am

The most interesting politics I’ve read today (no offense Garth) were in the Debt Trends article on http://canadianmortgagetrends.com

Don’t get me wrong. The election is thrilling as well. Hearing Rob McLister capitulating on the coming correction was more interesting to me though.

#89 Utopia on 04.26.11 at 12:56 am

Early tonight I read the latest results from the Ekos poll as reported by the Globe and others. I paused for a moment, looked at the charts and then burst out in laughter.

What bullshit!

Nobody worth their salt believes those numbers. There is not a hope in hell that Jack Layton will really best the Liberals, let alone form official opposition [let alone see Jack as Canada’s Prime Minister].

The Crack-Jack joke was good humour for a few days but now it is wearing thin. Unless…unless….Canadians have collectively lost all their marbles and sanity and actually think he can run the country.

Maybe we have become idiots up here in this cold country.

I have no doubt he will pull a few extra seats though from select ridings but a new aggregate total of 100 is absolutely out of the question and Ekos should know better than to weight the numbers that way.

I am completely confident in my own seat counts and Jack will not therefore take more ridings than the Liberals in this election. Won’t happen except in Jacks fantasy dreams (although I do expect he will exceed the Bloc’s count this time around).

#90 JB on 04.26.11 at 1:02 am

If NDP gets in…

My business will come to a screeching halt, I’ll have to try to get a Government job… I’ll be a stiff dammit! But hey, I’ll get a cheap(er) house out of the deal… Brad Wall must be sweating bullets…

#91 race against time on 04.26.11 at 1:06 am

Who would have thought that the majority of the followers on a seemingly conservative real estate/economy blog would lean Left?

Maybe this country has a chance after all.

Or maybe people are finally seeing Harpers agenda for what it is and it scares the pants off them.

#92 skip on 04.26.11 at 1:18 am

Garth you just don’t get it do you?

People don’t buy a house because they are trying to get the upper hand on someone else. They don’t go into it thinking buy low, sell high.

They are not dumb, or house horny, or property virgins or any other derogatory term you can muster up from your ignorant reactionary tendencies.

They are ordinary kind people just looking for a nice place to enjoy their life, a place that resembles the social norms they see so they can live in dignity.

But no, people like you and the other sociopathic Capitalists turn the whole experience into a pathetic exploitative hell whole. Were these ordinary nice people get the fuck over.

If it’s not the latest Capitalist recession, or the latest Capitalist rise in food and energy prices., or maybe an imperialist war, then it’s the drudgery of being forced to go to work and be exploited by Capitalism to pay for it all.

No Garth, you just keep on think these people are stupid and you just need to explain it one more time for these people to catch on.

#93 eddy on 04.26.11 at 1:22 am

it’s over for west coast real estate-

http://www.youtube.com/watch?v=H2wLbwuJeMM&feature=share

http://www.youtube.com/watch?v=TMXvpWoHzeE&feature=player_embedded

#94 skip on 04.26.11 at 1:26 am

Look do, it does not matter which bourgeois party leads the government.

World capitalist is ending one epoch and entering a new one.

America and it’s currency as the world power is over and Asia is taking over.

Only question is will the west peacefully step down?

No I think not, we see how the west is handling the problem. Bail out the banks, pick and choose which monopoly will survive and force the working class to pay for it all with higher prices, forced lower wages and Government imposed austerity measures and new imperialist wars such as Libya.

No we see the working class revolt to this in Greece, Iran, Italy, France, England, USA, Tunisia, Egypt, Libya, Syria, Bahrain, Yemen, now China.

So what do you think the out come will be?

Well what did the west do when England ended it’s rule and either Germany or USA was going to take over?

#95 Thetruth on 04.26.11 at 1:30 am

#27 joseph

makes one wonder whether the mainstream media (corporate interests) is purposely pumping up the NDP in order to split the ‘left’ vote, thereby ensuing you know who of a majority. just a thought…

#96 TaxHaven on 04.26.11 at 1:46 am

What’s the difference, anyway?

All three (or four) parties have “promised” to borrow and spend yet more money we don’t have, on “services” that the loudest interest groups want…

All Canadians are deciding on is the speed of the inevitable big government collapse.

Has any party – or, indeed, any candidate – promised to cut the deficit, cut spending and shrink government?

To hell in a handbasket…

#97 tran,Calgary on 04.26.11 at 1:55 am

The limit on America’s national credit card may have been reached.

http://www.thenewamerican.com/economy/markets-mainmenu-45/7249-chinas-central-banker-we-own-too-much-us-debt

#98 blase on 04.26.11 at 1:55 am

Why is it that Norway, Sweden, Denmark, Netherlands, Germany, France, Switzerland, and others can be successfully socialist, but for some reason our tiny nation, with virtually limitless natural resources and highly educated workforce has to give super-low corporate taxes and incentives to the oil business?

I think the rich have been playing from the republican playbook for years in Canada, and it’s about time the rich and corporations paid their fair share.

I hope Layton is our next PM.

#99 ruraldude on 04.26.11 at 2:05 am

Just remember this all you millionaire wannabes. Jack may play Robin Hood and there will be rejoicing in Sherwood forest. But when the rich have taken there money and jobs out of Sherwood, Robin will be without a job and the wannabes will be poorer than when Robin rode in.

#100 Dusko Jocic on 04.26.11 at 2:13 am

You think Jack Layton becoming the Prime Minister is a shocker just look south of the border. Donald Trump is preparing to become the next president of the United States and he doesn’t have a clue about energy issues. He wants to take the oil from Libya, Iran and other OPEC nations. He says Americans are being abused.

http://www.youtube.com/watch?v=TrfItXXn9Xk

I’d hate to see this guy fumble the nuclear football.

#101 smartalox on 04.26.11 at 2:26 am

And what happens when Jack’s remission goes into remission, guess who will take over? Libby Davies, mp for east Vancouver, and Palestinian apologist. Look, Jack Layton is a nice guy, (though I can’t shake the images of him drawn as a bunny by Donato in the Toronto Sun years ago), but the rest of the NDP lack depth, let alone the experience to form an effective government.

It’ll be just like when bob rae’s NDP were elected in Ontario: the morning after the election, nobody was more surprised than Bob, and what followed were years of amateurish scandals and gross mismanagement. It was so bad that in the following election, even the unions voted conservative!

This, by the way was the Mike Harris revolution, that foisted Jim Flaherty, John Baird, and Tony Clement, and Guy Giorno and made their careers on Canada’s political stage.

Do you get it now, the danger of voting NDP?

#102 betamax on 04.26.11 at 2:41 am

#22 Makes Cents: “Hope there are major changes to the CRTC. As for the oil sands, no party is going to shut down oil.”

I never thought I’d vote NDP, but apparently they’re the only party against the CRTC’s insane sanctioning of UBB (Usage-Based Billing) by internet providers. Once again, Canadians exhibit a bizarre complacency through which we get royally reamed and our only reaction is to politely murmur “thank you” afterward.

I might actually vote for the NDP, even if they’ll likely screw things up worse and be tossed out in one term, because I’m so pissed about the UBB.

Someone check the weather May 2. Hell just might have frozen over.

#103 Bill Grable on 04.26.11 at 2:44 am

The look GilleS Duceppe’s eyes today said it all. I can imagine how long I would last as a Campaign mgr. As Separatism died at a greenhouse.
Iggy sucked from day one, and Harper is tired.
The Americans will freak with a Marxist in Ottawa. Taxes will nail crippled Canadians. Gad, I am shocked at this turn of events. NDP did a great job here in BC.

#104 Onthesidelines on 04.26.11 at 2:50 am

” Likely results: a big drop in the dollar and a big jump in interest rates”

Don’t know anything about Canadian politics, but you don’t seem to be making much sense in your economic analysis. A rise in interest rates generally pushes a currency higher… the carry trade is still very much alive and well.

#105 Daystar on 04.26.11 at 3:00 am

#27 Joseph [original] on 04.25.11 at 10:25 pm

I quite agree. NDP surge means a split vote. The Cons never really had much traction in Quebec and they came short, what, 8 seats from a majority 3 years ago? All the Conservatives need to do to gain a majority is to come a seat or two from a sweep in Alta/Sask which will happen, take half of the seats or more in BC which they will do again, repeat in Manitoba and hold the seats they had in Quebec. Even if they lose a few seats in Quebec, it won’t matter. Harper gets his majority from winning what I think will be 15 to 20 more seats than before in Ontario, and adding a half a dozen seats or more in Atlantic Canada, all at the Liberals expense.

40% is majority territory in Canada. Harper has been floating between 35 and 43% with most polls now. Nanos has the Harper party at 39%. I hate to say this, but its shaping up to be another 5 years of Harper rule, only this time ’round its absolute. The only real question that remains is if any Conservative MP’s defect if/when (for me, its when and if I was Harper, I’d go after the prize right away. Remove all foreign restrictions of ownership, especially with our domestic banks, privatize the CBC while opening the door wide for media concentration to get greater media market share support of his policies with CTV globe media benefiting the most and then end the wheat board) Harper begins to destroy the status quo. From there, privatize the rest of our federal crowns and dismantle healthcare to “fight the deficit” created through tax cuts, a housing bubble collapse and ballooning defence spending, most naturally.

Seriously, would any one of us really be all that surprised if Harper tried? Just as seriously, with a majority government in the house and senate, what could stop him? A revolt from within… maybe but it would come awefully late in the game I’m afraid, too late for saving anyone’s career if they tried, I would think.

Canada has its lumps coming I’m afraid and maybe we are due. We really do take too many good things for granted in this nation. Canadians may have to lose essential services outright before realizing how lucky we’ve had it and why.

#106 ken on 04.26.11 at 3:11 am

The bloc might be dead but the parti quebecois is the only one that counts when it comes to seperation and their leader just got 93% approval not since rené lesveque had we seen numbers like that and the movement is also radicalizing,the youth don`t have much patience for royal bullshit…SEND WILLIAM AND HIS BITCH PACKING THIS SUMMER!CANADA should join QUEBEC in getting rid of our colonial masters!Quebec is not giving up on separation Garth you once conservative little troll…It is coming together to get fight the dark lord himself…

#107 blase on 04.26.11 at 3:36 am

Also, don’t forget, the Conservatives are only conservative socially, not fiscally. Just look to Alberta to see what a majority Con govt looks like. Absolutely dreadful.

#108 almitra on 04.26.11 at 4:02 am

Layton has gone to school on the Manitoba NDP government. We work very well with business,including reducing corporate tax on small business to zero. People seem to be waking up to the neo-con snow job. You can fool all of the people some of the time, some of the people all of the time, but you can’t fool all of the people all of the time. It was Tommy Douglas who brought fiscal discipline and medicare to Saskatchewan. In that order.

#109 Brian1 on 04.26.11 at 4:49 am

Moneta hasn’t been around because of Garth’s last comment I think. So, she’s working on it. It will happen to me. It will happen to Garth. That’s probably why I come here. It keeps me honest. Thanks American, Utopia and to those who just read.

#110 rsen on 04.26.11 at 4:55 am

Don’t we want a drop in the Canadian dollar?

#111 MortgageFree on 04.26.11 at 5:05 am

This post should’ve been titled “You got Jack” :-)

#112 pixelwhiplash on 04.26.11 at 5:08 am

So, the Stick wins or is asked to form a government. The sulking Bully leaves or is forced out. Unibrow tries to position himself as the king maker and fades away or is forced out. People see how feckless all of the choices were and clamour for another “unnecessary” election. Only to be presented with another assortment of blowhards and their bagmen. The change we need is online voting on all bills that come before parliament. That way, in effect, we are parliament. As it should be. These gomers we elect do not do any of our bidding and do not have our interests at heart. With the exception of Garth when he did his turn. I just don’t understand why we put up with it. Surely this travesty of governance is not how we would like to live our lives. Or maybe it is.

#113 HappyPlace54 on 04.26.11 at 5:39 am

Sure glad I don’t own property in Canada with the spectre of an NDP government on the horizon. I like the flexibility to be able to leave.

#114 BL on 04.26.11 at 5:55 am

comments about never shutting down the oil patch!
does no one remember “National Energy Program “

#115 DBL on 04.26.11 at 5:59 am

Hi Garth : Very interesting post today and interesting responses as well. I suspect that if indeed Jack in the box ends up leading a government , the first hing he’ll do is audit the books. We’ll then be told things are in much worse shape than we imagined. Taxes will go up and services will go down. I don’t think this will differ much regardless of who forms the next government , except of course for H&F, who will just keep buying more jets without engines.

I think whoever will bring our troops home should have a shot at the top. Just think of the $ and lives that would save.

#116 T.O. Bubble Boy on 04.26.11 at 6:31 am

Or, looking at this differently…

Layton/Ignatieff: 162
Harper: 130
Duceppe: 14
Elizabeth May: 1?

I hope that we don’t get some kind of united left party (NLDP? “new liberal democratic party”), because the whole “us vs. them” crap is just a way to make elections 100% about fear and personal attacks – like our neighbours to the south. We’re already way too far down that path, with both the Cons and Liberals wasting millions on ads that simply promote lies about the other party’s leader.

#117 Dave M on 04.26.11 at 6:31 am

“Likely results: a big drop in the dollar and a big jump in interest rates.”

So, even you’re supporting them now?

#118 T.O. Bubble Boy on 04.26.11 at 6:41 am

Back to real estate… in case you weren’t aware, buying a house is *NOT* a financial decision. You should always just go with your gut:

http://www.canada.com/business/fp/money/thrill+buying+house/4655339/story.html

Best quote from this article:
“Home ownership is a cornerstone of our culture, with 70% of the population owning properties and many of the other 30% looking to join the majority.”

“Cornerstone of our culture” is owning houses? If the U.S. (formerly the #1 country in terms of promoting home ownership for all) has learned its lesson, why can’t we?

#119 Northern_dirt on 04.26.11 at 6:43 am

#77 Blobby
……………………………………………………………………………..

I think you need to take a politics 101 course. Having public utilities doesn’t make a country socialist.. Even having some industry owned by government is a mixed economy by definition at best.

#120 Northern_dirt on 04.26.11 at 6:44 am

#112 HappyPlace54
Sure glad I don’t own property in Canada with the spectre of an NDP government on the horizon. I like the flexibility to be able to leave.
…………………………………………………………………………………

For sure.

#121 Evangeline on 04.26.11 at 6:52 am

((Garth: Oh, and we could all stop bitching and moaning about the date of the real estate bust.))

the real estate bust plus the added bonus of a stock market bust?

Tumult, but a bust is unlikely. — Garth

#122 Utopia on 04.26.11 at 6:59 am

#25 S.B.

“I do not support this cap n trade greenwashing stuff”.
————————————————————

Neither do I and it should be deep sixed. It is nothing more than a form of tax on business earnings with a fancy name to cloud it’s real intention.

If it was not a tax then just explain how in the world the NDP would actually acquire those billions to re-invest (er, waste) elsewhere.

Cap and Trade my ass.

#123 pbrasseur on 04.26.11 at 7:04 am

As a rather socialist country I find it natural that Canada would end up with a left leaning government. I mean this is bound to happen sooner or later.

And frankly if the RE market goes (as it should) and if the Canadian middle class begins deleveraging I’d rather have it happen under a left wing government which will get blame for it…

I don’t know if a Layton-Ignatietf gov. would be as radical as you imagine it but even just the proposed hike in corporate taxes could be a severe blow to our already problematic productivity.

Anyways, take a good look at Canada today because five years from now it could be a very different place…

#124 PTDBD on 04.26.11 at 7:10 am

yea, right
spin us another one
just like the other one
we’ll bite

#125 Utopia on 04.26.11 at 7:18 am

#35 Fade To Black

“It smells like summer 1972 in BC when the old Social Credit guard was turfed by the fresh NDP. It worked for about 6 months and then a grim sense of ‘what have we done set in”.
_______________________________________

You would think people in BC had learned.

But then along came Clark with a brilliant idea to make work and fire up our shipbuilding industry. He spent well over a billion dollars financing 3 fast ferries that slowly took shape in North Vancouver.

They ran one or two of them for awhile to much bitching and complaining and then finally mothballed the lot. In the end they sold them for scrap.

Brand spanking New aluminium hull fast-ferries…….sold for scrap value. Unionism at one its finest pork-belly moments. Gotta love the NDP, eh?

#126 House on 04.26.11 at 7:24 am

I don’t see this as a likely outcome as I am sure the two separatist parties the Bloc and the Cons will combine if they need to do so.

I guess your right by the way capitalism doesn’t work. I was always taught the if you had to pay a $2 Billion subsidy to an industry it wasn’t an industry it was welfare. Since the flow of light oil has declined sharply, Alberts has been a welfare state.

#127 Love this Blog on 04.26.11 at 7:28 am

#16,

I couldn’t have said it better!!

#128 T.O. Bubble Boy on 04.26.11 at 7:32 am

David Lereah’s Real Estate Books (pretty much the anti-Garth of the U.S.):

http://www.ritholtz.com/blog/2011/04/amazon-reviews-david-lereahs-boom/

“Lereah, on behalf of his employer, Realtors.org, just wanted to teach people more than how to lose money in residential real estate; he wanted to show how to lose money across different phases of the boom and bust cycle”

#129 Utopia on 04.26.11 at 7:40 am

#60 Ralph Cramdown

“It seems rather unfair to blame Jack as the trigger for a housing correction you’ve been predicting all along”.
___________________________________________

As I recall, the last time we had an election in this country the world spun completely out of control, stock markets crashed, US banks went under and there was a global financial crisis by voting day………coincidence?

What impact could Jack have?

http://www.youtube.com/watch?v=-b5aW08ivHU

#130 S.B. on 04.26.11 at 7:43 am

#114 DBL on 04.26.11 at 5:59 am

The troops are not coming home any time soon, not here nor for any NATO country. US built a $20 billion embassy in Iraq. This is for keeps.
“We come as liberators not as conquerors”.
“We know he has WMD”?!
“They will throw flowers at our feet, their children will sing songs of praise”!?
“It’ll be a cakewalk”?!
Remeber those? What we fight for?

#131 S.B. on 04.26.11 at 7:47 am

Reminder: the US FED’s announcement today is at 12:30pm EST (not the usual 2:15pm). I guess they will hold firm on interest rate levels?

#132 dave in calgary on 04.26.11 at 7:52 am

“Infinitely more likely, Iggy eats his ego in return for Liberal cabinet seats in an NDP-led government.”

Barf. At least we won’t have to worry about that coalition lasting very long. Who in the Liberal party is going to keep all (62) Liberal MPs in line with voting pro-NDP on all confidence votes?

And just ask anyone from Ontario, like myself…. If you go to the ballots and vote NDP just for the hell of it, you might have to wake up the next day and deal with an NDP government (which isn’t what you were thinking the night before). That’s a whole lot more difficult to deal with than voting for them.

#133 Willa on 04.26.11 at 7:53 am

Nice try, Garth.

In the history of liberal and conservative govts in Canada and the States, fiscal responsibility has ironically been more the domain of liberals than conservatives. In Canada, Conservatives have only once ever balanced a budget. Liberals have done it seven times.

The same is true for the Dems and Republicans in the States. With a Republican govt, the public coffers run dry. George Bush is only an extreme example of a long pattern.

Ontarians bemoan the deficit of the Rae government a few years back. But the deficit of the conservative Harris govt that followed it was many times bigger and deeper.

Yes, Jack is promising programs. But Harper is spending billions on fighter jets (lying about the price) and expanded prisons (hiding the price) and has put Canada more in the hole than any previous PM, despite inheriting a surplus. Fiscally responsible the current Cons are not.

For some reason, despite the record of history, we still believe that righties take good care of the purse strings and lefties can’t do math. So then righties get away with spending us into poverty.

Jack’s a sensible guy. He’d have a coalition government, not a majority. He’d be constrained by an economy that’s quietly tanking.

Give him a chance. Put it this way – He can’t do any worse than the last guy who had the job.

#134 Incubus on 04.26.11 at 7:57 am

Nanos poll: The Tories have the support of 39.2 per cent of Canadians, while the Liberals are clinging to a slim lead over the NDP with the backing of 25.6 per cent of decided voters. The NDP have 23.6 per cent

http://www.cp24.com/servlet/an/local/CTVNews/20110425/110425_nanos_poll?hub=CP24Home

#135 jerry on 04.26.11 at 8:13 am

Hey…wait a minute……..was Jack Layton born in Canada?

#136 Robert Dudek on 04.26.11 at 8:13 am

Wow, if only we COULD become a giant Denmark!

BTW, separatism is not fini in Quebec, merely dormant for a generation or two. It always comes back.

How about just bump the GST back to 7% (it should never have been cut). Surely that would bring in some fed dollars. After all, do we really need to encourage more consumerism?

Given a choice between consumption tax and income tax, consumption tax is preferable. Even in Ontario, HST of 13% is low by the standards of most industrial nations.

Our corporate tax rates are low too – no harm in bringing them more in line with rich world norms.

#137 Robert Dudek on 04.26.11 at 8:15 am

“NDP get elected with a minority government, start the Alberta Separatist Party. Unlike Quebec, Alberta will not sit quietly through another government that cripples the oil patch.”

Try it and we’ll send in the army and expropriate your wealth.

#138 Utopia on 04.26.11 at 8:17 am

#104 Daystar wrote a bunch of crazy shit and then added this…..

“Canada has its lumps coming I’m afraid and maybe we are due. We really do take too many good things for granted in this nation. Canadians may have to lose essential services outright before realizing how lucky we’ve had it and why”
—————————————————–

WTF? Did you go crazy over the last weekend or what Daystar? I am not voting for you that’s for sure.

#139 DARLENE on 04.26.11 at 8:27 am

Nice fear mongering Garth! You know it’s not over yet and Ontario has not jumped on the orange wave. You might of shed off the Liberal coat but many like myself have not.

Here’s my favorate Liberal quote:

At a morning campaign stop at a Newfoundland and Labrador coffee shop, Ignatieff rejected suggestions from a patron that the industry must be shut down.
“Whether we need them or not, we got them and they employ Canadians,” Ignatieff said.
“We can’t get out of fossil fuels tomorrow. Look at all those cars out there. What do you think they’re going to run on?”
But Ignatieff said it will take longer to make that transition.
“Let’s be in the real world here,” he said. “We’re going to be in the fossil-fuel future for a least a couple of generations,” he told reporters, after speaking to a few other customers about other issues.

Read more: http://www.canada.com/news/decision-canada/Ignatieff+defends+oilsands/4563408/story.html#ixzz1KdN8uTPU

Keep it real people. Vote Liberal!!!!

#140 Ex-Cowtown on 04.26.11 at 8:30 am

The whole world’s goin’ Crazy!

Crazy, Crazy, Crazy, Craaaaazyyy!

Hey Baby, Ya wanna go Crazy with Meeeee!

(Apologies to April Wine, for those of us old enough to remember the band)

Glad I’m headin’ off to work in the U.S. Canada is a nice place to live in, but there won’t be any jobs here.

#141 john m on 04.26.11 at 8:39 am

Personally i think Layton’s spending plans are quite modest compared to herr harpers plans. We all know from past history the Harper group is the largest spending government in Canadian history with most of it going to his corporate backers.At least Jack Layton will be giving it back to the people.As far as the oil companies pulling out of Alberta–not a chance….in fact its about time the taxpayers stopped making the rich get richer while they screw us for more.

#142 Fellow Calgarian on 04.26.11 at 8:40 am

#51 CalgaryBoy – When was the last time a poor person gave you a job? When was the last time somebody you know had an increase in expenses and just ate it? No, doesn’t happen. Either you get laid off to cut costs of producing the goods or services your employer depends on to pay you when sold, or you pay more for the same damn goods and services. Raising corporate taxes will simply be economic suicide.

#143 stealth on 04.26.11 at 8:41 am

Since we are buying new stealth fighters which will now cost triple the original estimate I think we might be getting ready to start “acquiring” new resources elsewhere just like our friends do, and get to claim amortization costs on the fighters in the process. (30% of 200 million tax deduction is huge)

This way we don’t need to raise corporate taxes to pay for our indulgences we can simply help save threatened natural resources somewhere in the world through some kind of humanitarian effort.

#144 MikeT on 04.26.11 at 8:48 am

So, it’s better to have 35 billions taken from us taxpayers for some toys-in-the-sky that will not even be used to protect us, but fight somewhere far away for the interests of uncle Sam and his NATO allies, than have 13 billions taken from corporations to fund better care of us taxpayers?
Corporate taxes are lower in Canada than in the US, so it still has to be calculated how advantageous would be for companies to move their production south of the border if their taxes go up by 18%. It will be a hit to them, but will it make all of them move out of Canada?

#145 Tom from Mississauga on 04.26.11 at 8:49 am

Well when you have 30% borrowing for monthly bills, 40% of seniors entering the workforce and 50% with no savings it really is not a surprise.

#146 The American on 04.26.11 at 8:54 am

At #132: Willa, I do agree with you. If you review history, Democrats have almost always been more fiscally conservative than Republicans within the U.S. For, example, of the $14+ Trillion deficit we currently have in the U.S., did you know over $10+ Trillion of it was under Republican Presidency and Republican majority in Congress? Of the remaining $4+ Trillion, a little over $3+Trillion was borrowed from ourselves. About $1 Trillion of it was from a Democratic President along with Democratic Control in Congress.

The conservative fiscal theory SOUNDS great, but in practice it creates financial ruin for most while the top 2% get the most significant concentration of wealth. Of course, its clear why deficits would would run up in this scenario… Cutting of taxes means less revenue stream for the government to do its business, but it sure as hell secures votes, right? But, when the top are getting richer and richer, meaning it is at the expense of middle American, there’s less money for people to pump back into the economy in way of consumer spending. Republicans are absolute geniuses at pandering to this fear that is scientifically proven to be an inherent genetical quality of the human brain. Trickle down economics NEVER has worked in the history of the world. The rich cling to those pennies as if their life depends on it. Keep in mind, I was once a Republican myself.

#147 AG Sage on 04.26.11 at 8:55 am

>plus end subsidies to oil producers.

Oh the irony of which party actually enforces capitalism upon the market.

I’ll be sad to see Harper go because whenever I meet someone here who says, you know I should just move to Canada, I get to tell them about Bush III. Great fun.

>#91 skip on 04.26.11 at 1:18 am
Garth you just don’t get it do you?

You have valid points in your rant, but I don’t think Garth is the enemy, except perhaps that he doesn’t spend much time advocating for structural reforms such as strong consumer protection that would allow home buyers to be only as engaged with the process as you describe. Unfortunately, the process IS run by wolves. Buyers are sitting ducks if they aren’t as sharp as a river boat gambler. Garth is teaching by holding examples up for criticism. That is the only way to teach this stuff. The average human doesn’t pay attention to unsensationalized general advice. Don’t confuse the method with the purpose.

#148 Calgary Illusion on 04.26.11 at 8:55 am

@#9

An 18% percent tax increase on major corporations along with massive penalties for pollution will absolutely kill large corporations – especially in the mining, and energy sector. The result will be massive investor losses, and corporate layoffs (remember the national energy program?). These layoffs will do NOTHING to stimulate small business….in fact it will be the opposite effect. #2 is correct in saying that Alberta would like launch a separatist movement and likely with great effect. And excuse me….why does the rest of the country have to support your working class expectations (get yourself out of the rat-race).

#149 David B on 04.26.11 at 8:59 am

You are 100% correct our MSM has failed Canada there is another media out their it’s called the Social Media and here is a taste … and do not let small # full y’all because has been cut pasted over a million times …

http://www.youtube.com/watch?v=SlaZJlrdr6M

Times are a-changing …. listening over a coffee at Second Cup …. young professionals said” what’s the difference between the Libs and Cons? and south of the border …. most now agree there two party systems sucks … and we know what happened in England.

Time will soon tell …. and this morning at Tim’s an older man said to me he was not pleased some young pup was going cancel out his vote …. to whit I told him …. why not? It is there world to-day .. how many elections to you have left?

Good for youth …go for it !

VOTE, VOTE and VOTE for Change!

#150 eddy on 04.26.11 at 9:01 am

After you watch the Layton add, watch this, and compare the background music.

http://www.youtube.com/watch?v=81Ety3-1ZgU

#151 April Showers on 04.26.11 at 9:04 am

At #17: Signpost in the bushes, it depends on which publication you read. According to International Living, the U.S. took #1 spot for 2011 for highest quality of life. Look, we can hate it all we want, but we need to face the fact that quality of life overall is still pretty good here in Canada and the U.S. This is one of the highest rated publications for this kind of index. And, the Yanks were able to pull it off all in the face of a huge recession.

http://internationalliving.com/2011/01/u-s-claims-top-spot-in-ils-quality-of-life-index-2011/

#152 Paindu on 04.26.11 at 9:08 am

CONS sucking immigrants blood and not letting their parents join them in Canada. Can anyone with parents believe that it is taking 10 years to process parent sponsorship application!

Bravo ABC (Anyone but Conservatives) Campaign!!!

#153 Junius on 04.26.11 at 9:08 am

Like many posters I have been thinking that Harper should be tortured with another minority and have to live through the coming recession that he helped to cause. So long as he doesn’t get a majority.

If a left wing politician gets in now it will be just like Obama in the States inheriting the Republican mess and having them blame him for it.

On the other, I am so sick of Harper, his cronies and his undemocratic approach to leadership.

What the hell. Why not Jack? At least he is honest and decent along with being naive. Can’t say that about Harper.

As for Iggy. Back to Harvard you go.

#154 Luke Imcamp on 04.26.11 at 9:15 am

@47 Timing is Everything:

So happy to see you are taking your information from a now imprisoned man who defrauded thousands of people for Billions of dollars. What a reliable source! Yeah, I would sure trust what he says too. Sheeeeesh.

#155 Daisy Mae on 04.26.11 at 9:16 am

“But Prime Minister Jack Layton, even tempered a bit with Liberal partners, would send a signal to the world that Canada has flipped.”

I remember all too well what the ruling NDP have always done in BC as the pendulum swings — damn near destroyed the province every time. It always takes the BC Liberals a full term in office to get BC back on the right track….

#156 Fuzzy on 04.26.11 at 9:18 am

Suncor going bust? … Whatever. Peak Oil and instability in MENA will keep the price of a barrel of oil in the $100. Canada (stable & developped country) is the #1 oil exporter to the US, and increasingly to Europe, even China. An increase of taxes from current 16.5% to 20% is not going to change that and kill the oil sands …

Nor a cap-and-trade tax .

#157 fancy_pants on 04.26.11 at 9:19 am

Anything that pushes rates up will work just fine. It rewards those who live within their means.

Bring it on

#158 Dean on 04.26.11 at 9:21 am

I’m not certain Cap and Trade would shut down the Oilsands. The oilsands are amazing marvels of technology to do what they do. I suspect that if there was a profit motive to polute less, there would be rapid improvements in doing so.

The reality is, that until we create some kind of dis-incentive to pollute that affects a company’s or people’s bottom line we won’t see meaninful reductions in pollution. Is Cap and Trade the answer? Not sure, but if shareholders start to see their profits dry up because of pollution, I suspect suddently that reducing pollution will be high on the corporate agenda.

Regulating the oilsands out of business serves nobody, but neither does ignoring their environmental impact.

#159 Alberta Ed on 04.26.11 at 9:28 am

Where are the Rhinos when you need them?

#160 Daisy Mae on 04.26.11 at 9:28 am

“….RICH corporations/oil companies and NDP is all about working families…”

Working families don’t make the world go ’round. It’s rich corporations, oil companies that do. NDP scares investment away — they’ve done just that in BC in the past. Companies moved south in droves.

#161 Nemesis on 04.26.11 at 9:29 am

Say what you will about Jack&Plan, but his team knows good creative when they see it… (excellent PV, too)…

PS – to FadeToBlack (love!ThatHandle); ’72 & aftermath weren’t so bad (by comparison with prior & subsequent administrations) – and did you know that PremierDB’s denouement, after being tossed ‘into the wilderness’, was to teach @ Harvard’s Kennedy School of Government (how many other Premiers [or PM’s, for that matter] could make that boast!?). Davey’s Dad was a WW1 vet who knew (at great personal cost) what Mustard&Phosgene tastes like (and who passed away @ LouisBrier, his son, a frequent visitor; both in and out of office/now that’s Character)…

PPS – to Nostra (&jr)… your links are MischievousGoodSport! thank you.

#162 UK Love Calling on 04.26.11 at 9:35 am

I have a question for everyone here. Is it fashionable to be paranoid and uneducated with and antiquated and narcissistic twist on real world events in Canada? In all the blogs I read, Canadians sound very ignorant and stuck in mindsets that are at least a decade old. No offense, it is only an observation. Or, do Canadians do it to convince themselves to feel better about their huge inferiority complex by constant spoon feeding of deceit, creating an overall euphoric delusion? Just curious. Cheers!

#163 Daisy Mae on 04.26.11 at 9:39 am

“But I don’t trust Harper and he does not deserve my vote. I may just go ahead and spoil my ballot. After all, there is no “None of the Above” Box. A spoiled ballot may send the right message.”

That’s exactly what I intend to do. If there are enuf deliberately spoiled ballots maybe, just maybe, it’ll send a message. No one can say I didn’t care….because I DID voice my opinion.

Will the Liberal party EVER get their act together and elect a decent leader…?

#164 prairie gal on 04.26.11 at 9:43 am

The NDP don’t scare me as much as a CON majority. I’m a fiscal conservative, but I’d much rather see tax dollars spent on energy efficiency and a strengthened social safety net than fighter jets.

As for cap and trade, this is long overdue. I suspect resource companies will miraculously ‘discover’ plenty of old new technologies like combined heat and power systems that will allow them to easily meet and exceed emission targets. As a governmnet, we’re far too easy on industry and swallow every line they feed us regarding how ‘hard’ it is to reduce emissions. Problem is they haven’t even tried. Voluntary measures don’t work. Cap and trade will inject some innovation into the moribund productivity performance of Canadian companies and we’ll all be better off for it.

#165 Mikey the Realtor on 04.26.11 at 9:45 am

Layton will destroy Canada, I read some of his ridiculous promises that he will never be able to deliver. It looks like he sang and danced and now many want to take him for a whirl. What a disaster it will be if it comes to light.

#166 The American on 04.26.11 at 9:46 am

At #71: Timing is Everything, HA! I agree 100%. I am going to bet we would never find ourselves in a cold war with Canada, regardless of NDP or not. Don’t ask.

#167 Daisy Mae on 04.26.11 at 9:46 am

“I’m hoping Harper gets an even smaller minority government, with the NDP holding the balance of power…”

That might be interesting and even possible…but nothing would ever be accomplished! LOL

#168 Lorne on 04.26.11 at 9:49 am

#124 Utopia
Is that the best you can do….Fast Ferries??? Sure, it makes much more sense to do what the “Liberals” in BC have done….get new ferries built in Germany (so our tax dollars go to German workers) and then have the new ferries sit at the dock most of the winter as they are too expensive to run….see attached chart. Interesting how this info is hidden by Hahn.

http://www.saveourferries.com/vessel%20comp.html

#169 C on 04.26.11 at 9:51 am

My PM wish list:

-get out of Afghanistan ASAP
-eliminate CPP
-cut income taxes for everyone
-eliminate the GST
-shrink the size of the Government
-cut Government spending

The only way for Canadians to stop paying through the nose regarding taxes is to cut excess perks and waste.

#170 Eric on 04.26.11 at 9:51 am

Wow, Canada is really filled with a bunch of foolish idiots nowadays!!

Fighter jets at 30 billions will last 30 years +
Big Jails (9billions) will help keep criminals behind bars longer instead of them living as your neighboors for 100 years+

While the NDP 18 billions spending is gonna be needed EACH f*****g year! And that doesnt count the principle that all governement programs always doubles the initial cost .
So 18 billions x 2 = 36 billions
36 billions each year x 50 years (we can’t cut social programs each 4 years, right?) = 1800 billions or 1.8 Trillions
Taken out of what makes the country’s jobs, wealth, productivity and ingeniosity.

Wow!
Really, wow Canada!

#171 Daisy Mae on 04.26.11 at 9:53 am

“Agreed that the BIG 2 have failed miserably in promoting their message…”

They’ve skirted ALL the important issues. I’m so disgusted I won’t even listen….

#172 Timing is Everything on 04.26.11 at 9:58 am

#82 Devore – said “Corporations do not have the power to print money.”

Canadian Tire Does.

http://en.wikipedia.org/wiki/Canadian_Tire_money

http://tinyurl.com/42yclx2

http://coins.shop.ebay.ca/Canadian-Tire-Money-/27442/i.html

http://www.thetoque.com/010717/cantire.htm

#173 Mackie on 04.26.11 at 10:02 am

I thought my fellow Cdns were smarter than their US counterparts, or at least, more open minded when it comes to politics. Come on guys. The NDP is not going to cause havoc in our economy any more than the Conservatives or Liberals. And, not only are our corporate taxes lower, but we have govt health care paid for by us, so Cdn corporations save big time there too compared to US corporations. We can only dream of being Denmark!!!

#174 The American on 04.26.11 at 10:02 am

At #109: rsen, YES!, you want a drop in the CAD. The CAD is killing the Canadian economy where it stands today. And, believe me, a lower valued CAD is coming because the politicians are closely dialed into this little matter. I’ve been saying it for six months. LOL

#175 Herb on 04.26.11 at 10:03 am

Forget the hype and horseshit, people. The practical difference between “capitalism” and “socialism” is that capitalists take your money and keep it, while socialists take your money and spread it around. Take your pick on where you want your money put.

I can’t work up any enthusiasm for this election. Normally I vote for the government or the party that could replace it. This time, both ruling and replacement parties are impossible. The “Conservatives” have been a sham from day 1, and the Liberals have demonstrated nothing but incompetence for five years. So I will vote NDP to put as big a ball-and-chain on Harper as possible. The NDP candidate is the best of the lot in my riding (Ottawa Centre) anyway and deserves another term.

We’ll get the government we deserve again. We will do continue to do so until we earn better by voting on the basis of facts vice smoke and mirrors.

#176 TS on 04.26.11 at 10:07 am

But what would a Layton-led government do to the economy, housing, jobs and the markets?
I hope people come to their senses before voting. I would hope they would at least vote Green before Orange.
Of course keeping Elizabeth May out of the news is backfiring. The group think thing.
This just shows how people do not trust Harper or like Ignatieff.
Seems to be a personality contest. This election just shows how weak the Liberal and Conservative platforms combined with leaders that do not relate to the average citizen.
A NDP majority or even a minority would initially rock our economic markets for quite a while.
The dollar would drop which is a good thing but investment would also move on. Interest rates would rise thanks to the added risk of a socialists agenda.
The only way Jack is going to pay for his programs is through tax increases.
He can try and place his tax increases on business but will fail. We will be wondering where all the entrepreneurs went and watch is union friends move in.
The working families will be the ones that ultimately pay through job losses and higher taxes. Same as it ever was.
Canada is not Denmark!!!!
Reminds me of people who like to compare Toronto to New York…

#177 doctore on 04.26.11 at 10:10 am

The thought that a far left wing gov with layton at helm would be devastating to canada. Look at the mess that NDP in Nova Scotia has done. We need a Con majority no more minority govs.

#178 $froma$ia-The mother of all Bubbles on 04.26.11 at 10:16 am

All Harper needs to do is adopt a new hairstyle and he’ll win a majority for sure!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
$$$

#179 The American on 04.26.11 at 10:17 am

My call is this… The Conservatives will, by design, lose this election. Of course, they will demonstrate how they gave it their best shot in the eyes of the public. But remember this… It is easier to hand the inevitable and forthcoming economic and real estate collapses to another party and then later blame them for the mess that they, the Conservatives, created themselves. We see this today with the Obama administration in the U.S. The Republicans in the U.S. had NO INTENTION of winning the 2008 campaign. It almost ensures another victory for the Conservatives after the Libs have had their one term trying to clean up the crap the Cons left behind. Its been done time and time again. Politics at its best!

The Republicans in the U.S. KNEW the collapse was coming while they were in control and they were doing EVERYTHING in their power possible to keep it together. Unfortunately, they missed it by a year as everything started to go into the shitter in 2007. Unfortunately, people forget all too soon with the timeline of events. Watch and learn. The Democrats are going to be blamed, which ensures a Republican victory in 2012. I guarantee it.

#180 The American on 04.26.11 at 10:22 am

If I had it to do over again, I would have placed my vote back on the Republican party to ensure a win for them (even though Palin and McCain are idiots). I would have done this as a strategic play to MAKE people remember just how lousy Con leadership really is. Instead, we ALL wanted change and we voted for the Democrats, not fully understanding that this entire economic mess was truthfully completely out of the Democrats control. It is like trying to turn the Titanic*1000 on a dime. It cannot be done in such a short time (4 years in the U.S.). Hence, Republicans will win again in 2012. When that happens, watch what they do to rob Peter to pay Paul, only prolonging the mess.

#181 kilby on 04.26.11 at 10:22 am

We don’t think Steve, Michael OR Jack make credible leaders, don’t like them, don’t trust them. We just want to keep Harper from getting a majority. Why not give Jack Layton a chance, our national debt is the highest it’s ever been and Harper keeps saying he is the only option…what bullshit!

#182 Ralph Cramdown on 04.26.11 at 10:24 am

“All [women] ask of a cave beyond its shelter is that it be a degree more ostentatious than that of a neighbor’s wife” — Cicero

#183 Mark on 04.26.11 at 10:24 am

Ah, I love listening to some people in here speak about politics when they haven’t a clue. Layton for the middle class? Hah…He would cripple the economy and then some. He’s a good speaker and may be a nice person but that’s where the line should be drawn. But Canadians have shown their stupidity and gullability time and time again, so who knows…

#184 tkid on 04.26.11 at 10:25 am

#63 Nonplussed, I agree totally. I estimate Alberta stands for their oil fields being shut down by yet another never-balanced-a-set-of-public-books-twerp-from-Ontario for less than a year and they’ll leave Canada and form their own country.

Quebec goes next, followed by the Atlantic provinces. The Arctic will not stay. That leaves Ontario with freewheeling BC and a bunch of diamond mines up north.

I’m moving to Alberta. If I was already there I would have voted to secede years ago.

#185 Xnilo on 04.26.11 at 10:26 am

I can’t believe you ppl are falling for this poll/scam. The idea of an NDP surge in this political and economic platform is purely absurd. Ever since the english TV debate, the MSM has been infatuated with Layton and his marvelous performance. He stank big time! Now they are telling you that NDP might form the next minority government, what a crap.

The idea is simple – create enough buzz around Layton to drive potential Liberal votes away from Iggy, giving the Harper the edge closer to the majority. Mark my word, come election day you will see all those NDP votes disappear into the thin air and Harper will clinch his coveted majority, and then the sky will fall!

As for you Mr Turner, I can’t believe you are gullable enough to buy into the Ekos poll/hype.

I gather this is all a conspiracy, then? Elaborate. — Garth

#186 VICTORIA TEA PARTY on 04.26.11 at 10:26 am

VOTE NDP? YOU’LL GET JACK

Voters should be careful what they wish for if this Ekos poll is confirmed by other pollsters, and an NDP federal government morphs on Parliament Hill after May 2, thanks to the aforementioned voters.

A friend of mine in the business community tells me that an NDP-led federal government “will be the end of the end” for us.

Remember as you contemplate your future when you’re at the polling booth, that the NDP is a tax and spend beast pure and simple. That’s it.

It’s message beguiles: “something for free!”

But shortly after you vote them in you begin to feel that you’ve just been financially screwed, because you have! And you brought it on all by yourself. You believed in snakeoil…

ON THE SUBJECT OF SNAKEOIL: THE FAILED OBAMA

For a peak into our future under a socialist PM, look at the Obama administration in the US, an NDP-style outfit if ever there was one, until last November when the Republicans regained control of much of Congress.

It’s been total partisan confusion and rage ever since.

And that state of affairs will be part of Obama’s legacy; the rest?

Piles more debt and Congressional gridlock going into the 2012 election cycle. Obama has been a total disaster. The American Empire is sick and getting sicker by the day.

Apparently Jack likes Obama; at least I think that ‘s what he was yapping about back in 2008 when Obama was elected. Mais oui!

A BRIEF PRIMER: SOCIALISM’S TERRIBLE HISTORY

Socialism emerged as a counter-weight to the Industrial Revolution’s various, sometimes cruel, excesses in the 18th Century.

By the mid-19th Century socialism had a spokesman, Karl Marx and later others.

By the early-20th Century it became clear that socialism (Communism and National Socialism, they’re all the same) was pretty much wreaking havoc just about everywhere.

Socialism created millions of victims who lie in unmarked mass graves around the world, giving silent testimony to its endless cruelties.

The other victims are those who were/are left behind to suffer under huge taxes and government mandated rationing: to wit Venezuela and, soon, maybe Canada?

If Jack wangles the prime ministership, then watch out for a huge kickback from Alberta.

Like it or hate it Alberta is Canada’s meal ticket. Don’t forget that. Oil sands is our salvation and Jack wants to screw that up. A Western Canadian revolt will look bad everywhere, but count on it happening. Remember Trudeau’s NEP in 1980.

If you want jack out of this election then vote Jack.

#187 Kitchener1 on 04.26.11 at 10:27 am

Its all a numbers game.

Harper didnt want to give in to NDP demands that were really quite reasonable so we have an election.

Then, all of a sudden he finds 11 billion in cuts???

Quebec and Ontario will never give Harper his majority.

Sooner or later we are going to have a NDP or Liberal federal govt. Probely a minority of some sort.

Boomers are getting old and getting ready to retire, when they hit 65 its going to be all about them.

The Conservatives will never be able to match what the NDP or Liberals promise and actually deliver. Ever.

The best thing about this election is that it means the end of political careers for Harper (will never get a majority) and Iggy (will never get great numbers). For Layton, this is going to be his last campaign–im guessing here but I dont think that guy has the health or desire to run again.

So, next time around maybe we will get new leaders with new ideals and that might change the dynamic again.

As a voter, I know that we will never again have a balanced budget in Canada. I know govt will spend like money grows on trees. Harper talks a lot of smack about the NDP but his planes are the same thing, 35 Billion(that will double btw) plus maintenance for said planes etc.. is the same as Jack offering higher CPP, for Canadians.

#188 prairie gal on 04.26.11 at 10:31 am

@ BL: the idea that the National Energy Program shut down the oil patch is a myth. The NEP happened to come along during a time of hgh inflation and high interest rates, which plunged oil prices. To think that the NEP could have a profound effect on oil prices is ridiculous, but its a convenient horror story for western politicians.

#189 Ex-Cowtown on 04.26.11 at 10:35 am

To all the people who think a cap and trade system will help reduce global warming:

1. Man made global warming is BS.
2. Using tax money to solve a non-existent problem is more BS.
3. Killing jobs to solve a non-existent problem is BS.
4. Campaigning to raise taxes and kill jobs to cure a non-existent problem is BS.
5. All of the above make it an ideal NDP strategy.

Now, what part of the NDP platform did I miss? Oh yes, free unicorn rides and Cap’n Crunch cereal for everyone!

Climate changer deniers for Harper. Unite! — Garth

#190 Gwinegarden on 04.26.11 at 10:37 am

“the NDP would pay for them in two major ways: Raise corporate taxes to 19.5% (that’s an increase of about 18% from current levels)”

Corporations get to deduct evry expense that you can think of and many that you could not, and the pay 19.5%?

In the mean time, we can deduct almost nothing and pay double.

Guess where the jobs come from? — Garth

#191 rory on 04.26.11 at 10:37 am

I cannot believe the # of people on this site that think cap & trade, bigger .gov and increasing taxes are a good thing. Unbelievable! Are you not the same ones that bemoaned the Harper deficits?

As for the socialist states of Europe, excluding Germany, they are one mini-disaster away from bankruptcy in that they cannot afford their standard of living.

Lastly, the NDP will drive a wedge between east and west and just speed up the separation of Canada. Goodbye Quebec and Atlantic Canada. Good luck funding your lifestyle with all the ‘have’ provinces’ gone.

All of coures, IMHO.

#192 Mackie on 04.26.11 at 10:39 am

Victoria tea party Can I suggest you stop listening to your Business friend. He has his hand in your pocket. Start thinking for yourself instead of listening to the BS that is big business.

#193 goldenfox on 04.26.11 at 10:44 am

Rather then let the NDP and Liberals destroy Alberta what if Harper gets Duceppe to join him to form the government, with the inducement that they draft legislation to allow Alberta and Quebec to separate. What are Ontario and the rest of Canada going to do then, twist in the wind?

#194 Steven Rowlandson on 04.26.11 at 10:47 am

It might become obvious to some after monday that real estate will or is crashing but infact I think the process of decline might have started at least 2 or more years ago. The election of any party to form a government will not change the decline of real estate and the economy. To change things for the better requires debt reduction and real estate price reduction and that really isn’t on the political or personal agenda.
Canadians have to find out the consequences of their actions the hard way.

Steven

#195 Ex-Cowtown on 04.26.11 at 10:48 am

#188 Prairie Gal:

Were you even around when the NEP hit? I was, and I lived hand to mouth until when it hit until 1994. Out of work, a series of crappy jobs, no future. This was my lost decade (and a half). I don’t want to ever see another one nor would I wish it on my worst enemy.

Sorry, this was not theoretical. I lived it and so did far too many of my colleagues.

#196 AG Sage on 04.26.11 at 10:49 am

>#165 Mikey the Realtor on 04.26.11 at 9:45 am
>Layton will destroy Canada, I read some of his ridiculous promises that he will never be able to deliver. It looks like he sang and danced and now many want to take him for a whirl. What a disaster it will be if it comes to light.

I don’t know Layton from Adam. Can’t vote in Canada (obvs). But all of a sudden, I like Layton a lot.

#197 Alex on 04.26.11 at 10:50 am

Well, they printed my Cam Good rebuttal.

http://www.vancouversun.com/business/Vancouver+renting+better+option+than+buying/4674158/story.html

My thanks to Garth for turning me into a blatant pimper of the dark side. I only hope I got all my facts straight.

Problem is: How will I win my Global CRTC complaint now that the mainstream media is being so much more neutral? :-)

#198 Milkman on 04.26.11 at 10:54 am

#66 Caron.
Bad comparison. Norway (population 5 million) keeps all its oil revenues. Alberta (population almost 4 million) makes transfer payments to Ottawa and so does not keep all revenues.

As for the elections…it will be business as usual no matter the outcome.

#199 Grim Weeper on 04.26.11 at 10:55 am

I just finished reading this Joseph Stiglitz article in Vanity Fair and wonder if ordinary Canadians are beginning to realize that opportunities enabling them to prosper have been shrinking. If so, they might be inclined to turn out in droves to vote for Jack.

I’m hoping for NDP/Liberal coalition and the eventual merging of both parties. We need a Party with a keen social conscience and responsible fiscal management.

http://www.vanityfair.com/society/features/2011/05/top-one-percent-201105

#200 American Werewolf on 04.26.11 at 10:57 am

Let’s all take it easy with the disgusting hyperbolic demagoguery (ie, a Layton government is the end of business!!1!!!).

This is Canada–not America. Ridiculous political drivel (and housing bubbles) cannot happen here. We’re different.

#201 David B on 04.26.11 at 11:09 am

Ric Mercer is a powerful voice and could not be silenced by King Steve …. he told young Canadians to vote and we shall see come next Monday …. As far as a coalition … Canada was founded on a Coalition of two cultures English & French who had fought for years and the proud people of Quebec vote for change that could once again rock this nation ….

#202 Christopher on 04.26.11 at 11:14 am

http://www.youtube.com/watch?v=2C-oHhU3D2Q I hope this can be viewed it is funny

#203 fancy_pants on 04.26.11 at 11:16 am

Since this thread is filled with 2¢ opinions worth about as much I’ll add another as it all adds up to a cup of mojo in the end…

…rates forecast is up and RE values forecast is down. and realturds shouldn’t bitch b/c there will be a crapload of activity along the way

#204 GregW, Oakville on 04.26.11 at 11:17 am

If I had waited until ‘May’ 2 to vote , my sub-conscience may have voted ‘May’, it was my 2nd choice anyway.
Funny how ‘May’ gets mentioned every time you talk about the election day this time round.

ABC-H was my 3rd choice, H is a non-choice for me because I want to keep having a choice that has as much value as your choice!!

Thankfully the person running for Garth’s old job seems to be as smart or smarter that him.
And IMO much better looking too.

That’s just my two cents.

#205 Robert Dudek on 04.26.11 at 11:19 am

I laugh at all the right-wingers who support the corporate agenda. Unless you are part of the top 10% of the population in net worth, you are voting against your interests by voting neocon. You must be either stupid or brainwashed.

Garth asked, where do the jobs come from. Answer: from small businesses growing into medium-sized businesses and medium-sized into large. Large corporations shed jobs – they’ve been doing it for decades. They’ve even got a nice euphemism for it: downsizing.

Cudos to Layton for talking about helping ordinary people, which includes the small business community.

By funneling ever more wealth from the middle to the top, we’ve seen the middle class under pressure in Canada. Time to change that suicidal policy.

#206 [email protected] on 04.26.11 at 11:22 am

How about a progressive tax rate on corporations and a fixed flat 19% tax on individuals?

That sounds more fair. Will see how that goes over.

#207 Utopia on 04.26.11 at 11:23 am

#197 Alex on 04.26.11 at 10:50 am

“Well, they printed my Cam Good rebuttal”
————————————————————
Nice work Gord. Get the word out. There are still a few property virgins who can yet be saved at the 11th hour. (Or is it already 3 minutes to midnight perhaps?)

#208 kenneth on 04.26.11 at 11:23 am

The end is is not near..it is here if Jack becomes PM.

#209 Form Man on 04.26.11 at 11:24 am

# 198 milkman

Alberta does not make transfer payments to Ottawa. All Canadians pay federal income taxes, some of which are then transferred back to the provinces under an ‘equalization’ scheme. You may disagree with the scheme, but the fact is Alberta doesn’t ‘transfer’ any more than any one else. I might also point out that the much hated NEP was conceived when oil prices were high and was signed by Conservative Premier Lougheed. When the world price for oil collapsed, Alberta entered a recession ( as did Texas, which had no NEP ), along with most of the rest of the world. Canadians have been subsidizing Alberta’s oil sands since the 1960’s. The Alberta Conservative provincial government of late have proven to be hopeless money managers who have squandered the proceeds of a geological windfall.

#210 Ex-Cowtown on 04.26.11 at 11:26 am

To all the people who think a cap and trade system will help reduce global warming:

1. Man made global warming is BS.
2. Using tax money to solve a non-existent problem is more BS.
3. Killing jobs to solve a non-existent problem is BS.
4. Campaigning to raise taxes and kill jobs to cure a non-existent problem is BS.
5. All of the above make it an ideal NDP strategy.

Now, what part of the NDP platform did I miss? Oh yes, free unicorn rides and Cap’n Crunch cereal for everyone!

Climate changer deniers for Harper. Unite! — Garth

++++++++++++++++++++++++++++++++++

Garth, you are such a putz. Nobody says that climate change isn’t real. It has been a continuous process since this planet coagulated from a swirling mass of blazing crud. Sometimes it’s warmer, sometimes it’s cooler.

When it gets hot or cold it doesn’t automatically mean people are responsible. Or Harper lovers. Or Harper haters. Or mean anything at all.

Pick up your game. I expect more from you.

#211 prairie gal on 04.26.11 at 11:29 am

Ex-Cowtown: yes, there was a plunge in oil prices, but it was due to rampant inflation and sky-high interest rates that made it uneconomical for exploration and destroyed demand. It was a coincidence that the NEP was introduced at this time. That is all. I believe the energy economists and other experts over crass hyperbole.

Cap and trade would do no more to hurt the oil industry than the Alberta carbon tax, which has been in existence since 2007.

#212 prairie gal on 04.26.11 at 11:31 am

@ Milkman: Ottawa keeps the oil revenues, as does Norway. Alberta is not its own country. You don’t see the Norwegian provinces whining about this.

#213 GregW, Oakville on 04.26.11 at 11:45 am

Hi #71 Nostra, Thanks for the links, I often find one or two of interest. The Japan ongoing issue is very troubling indeed.

#214 realpaul on 04.26.11 at 11:46 am

Jack has gone from being a serious joke to a serious threat. What kind of an idiot with a mortgage could ever think that an NDP government would be a good thing? If you think you can’t afford KD right now….just wait until your new tax assesment comes in to pay for nonsense like daycare and big raises for the civic parasites.

#215 malbadon on 04.26.11 at 11:47 am

This boring election has turned out to be anything but, I can’t believe the roller coaster this election is. We can rest assured that no matter who gets in we can be pretty sure the housing market has gotten to the point where there are no more magic bullets that can save it from falling.

Now a Conservative created dossier of every politically explosive quote ever said by Harper has been leaked? Talk about handing your opponents liquid gold.
http://www.cbc.ca/news/politics/canadavotes2011/story/2011/04/25/cv-election-harper-dossier.html
Why on earth would you even create such a thing?

Roller. Coaster.

#216 Get Real on 04.26.11 at 11:47 am

# 189 Ex-Cowtown

Amen.

Same as charging 5c for a plastic bag (that only lines retailers pockets) in the name of environment when everything else in the store is wrapped in six layers of plastic and then some.

Same goes for selling carbon credit or paying money to reduce “carbon footprint”.

Enough!

#217 CanSpeccy on 04.26.11 at 11:51 am

Garth,

NDP proposals for raising corporation tax seem dumb, since this is a tax on business investment. As a former revenue minister, you must be aware of studies of the alternatives.

What about a capital tax such as they have in Switzerland? Maybe with a high personal exemption, to exclude most of the population and perhaps an exemption on investment in Canadian businesses. Would this not raise a useful amount and achieve a better balance of taxation between income and capital, without depressing productive investment?

#218 stage1dave on 04.26.11 at 11:52 am

Gee whiz, it seems as if some peeps on here are just as scared of the words “left” & “socialism” as some of my US buddies are…does anyone seriously think Mr. Layton could make a larger mess of finances than some of our preceding governments?

Socialism for the “rich” is perfectly acceptable, as much recent history (politically & financial) substantiates; potential socialism for the “poor” (that’s anyone who’s not “rich”, btw) turns the masses into a throng of chicken littles…

The 800 lb. gorilla in the room is always the spectre of the “rich” taking their business & jobs somewhere else because of the threat of increased taxes…an undiscussed horror is that corporate chieftans may find their calls to the PMO not returned as quickly. Or maybe the “rich” would decide that such an ungrateful population voting in a left-leaning government didn’t deserve their affections & would decide to teach us all a lesson…

OMG, I’m petrified…wonder what I should do? Don’t wanna PO these powerful people with their shiny toys & all the promises of “better” things to come! Someone might put a contract out on my career! After all, everythings gotten SO MUCH better in the last 20 some years…for the majority of the population…

I flushed out my headgear a long time ago; elected governments turned from being a conduit for the electorates desires & hopes into being a pipeline for corporate aspirations decades ago. Implementing boardroom concensus while making it palatable to the great unwashed seems to be their principal function lately.

Anyway, I’ll be in business the day after whatever new government is elected, just like I was over the last dozen or so elections. My customers will still be the RICH & POOR. My concerns will still be the same; clean streets, good schools, opportunities for my children, blah, blah, blah…NONE of which concern the “rich”; they can buy all that themselves.

I seriously doubt Layton will wind up as PM, but it would make for interesting political theater. Who says Canadian politics is boring?

#219 prairie gal on 04.26.11 at 11:53 am

To everyone blaming the NEP for the collapse of oil prices: correlation is not causation. Look at the bigger picture – the inflation, the recession, the astronomical interest rates. The demand destruction that these factors was the cause of the oil patch decline, not some Ottawa-generated public policy.

The NEP-as-boogeyman myth that has been conveniently repeated over decades needs to be, for once and for all, put to rest. Its myopic thinking like this that has kept the prairie provinces in the dark ages, politically, and resistant to any sort of productivity and innovation-inducing measures that will benefit ALL (as opposed to the petroleum industry).

Joe Bageant should write a book about the self-defeating prairie province voters. We’re just as hick and backwards (in the rural areas) as the hillbillies in the Appalachians. Its embarrassing to see people swallow such garbage from ignorant politicians who cater to self-interested millionaire oilmen.

#220 Ex-Cowtown on 04.26.11 at 11:59 am

#212 prairie gal on 04.26.11 at 11:31 am

@ Milkman: Ottawa keeps the oil revenues, as does Norway. Alberta is not its own country. You don’t see the Norwegian provinces whining about this.
++++++++++++++++++++++++++++++++++++++

Our constitution says that natural resources are the property of the province. Please come up with something that isn’t illegal.

#221 DJH on 04.26.11 at 12:01 pm

Garth, Relax. You’re starting to sound like Harper. The NDP-Liberal coalition government will be refreshing political air. We’ve had a number of superb Provincial NDP governments, and Layton (with or without the help of Liberals) can do the same thing at the federal level. And let’s take the inevitable anti-NDP scaremongering for what it’s worth – not much. What a great country!!

#222 AG Sage on 04.26.11 at 12:05 pm

#197 Alex on 04.26.11 at 10:50 am
>My thanks to Garth for turning me into a blatant pimper of the dark side. I only hope I got all my facts straight.

Good rebuttal and congrats! I did notice one factual error. The Chinese in the helicopter were local Vancouver realtors, not foreign buyers. (I’m pretty sure anyway.) That doesn’t change your argument, it’s mostly a missed opportunity to point out that the stunt was pure staging.

#223 Daisy Mae on 04.26.11 at 12:05 pm

“Give him (Layton) a chance. Put it this way – He can’t do any worse than the last guy who had the job.”

Yes…he can.

#224 Barf Bag Ready on 04.26.11 at 12:09 pm

Oh How we all forget – Bob Rae’s NDP in Ontario – it was in the best interest of this province to open that Constitution that good ole Pierre rewrote and Affirmative Action was now Law! And guess why in years later, the Harris Conservatives ousted the NDP.. ….BINGOOOOO – affirmative action is reverse discrimination and the white males weren’t gonna take it anymore – Jack Layton’s wife (asian) probably is whispering the very notion in his ear … (a racist thougth ? .. likely, but the truth is what it is).

Yes – if it isn’t Stevie as those in here claim wants to personally destroy Canada – We need a Socialist government that will sprinkle fairy dust and everyone will be happier and richer – LOL…

If the NDP win – I gotta change my last name to a more ethnic sounding one – change my religion and pray that future employers have met the quota on desired members of our society and be the lucky one out of 100’s of white males to land a job –

Yeah, Harper will destroy Canada – of course, why not – and good ole Jackie will enrich us all …. the End of Canada as we know it –

#225 Mister Obvious on 04.26.11 at 12:12 pm

#197 Alex

I don’t even know you Gourd Goble but I am extremely proud of your accomplishment. You did more than bitch on a blog. You managed to publish the voice of sanity in bubbletown’s MSM. Most impressive. Hat’s off to you… twice.

#226 Daystar on 04.26.11 at 12:14 pm

#63 nonplused on 04.26.11 at 12:12 am

You do realize how your post must sound. Its not uncommon for people to fall into the “superiority” trap based on the simple reality that they are “have’s” instead of “have nots”. We humans are by nature, incredibly flawed after all. Couple this with the discovery of flaws within the rest of us combined with the complete lack of self introspection within one’s self, and its like this:

If one wants to find flaws within humanity and its systems, one will find it. If all one wants to do, upon discovery of such flaws is to say to themselves, “I am better than, I am superior to, because I don’t possess the same set of flaws or disadantages”, it is safe to say that that same person/group will forever end up in divorce, united only with those who think exactly alike in the same… flawed… fashion.

In other words, if you aren’t quite grasping what I’m saying, its simple. Assessment of a situation or person or group or belief or ethnic culture is one thing. To pass judgement on it, is quite another and where we all fail in judgment, I assure you non plused is that we never look at the entire timeline of a person/group(s) existence. In essence, we never factor in the dynamic of change (especially so, change that is permanent). The independent person/group one day, is dependent the next. The have’s one day (or year, decade, century if that suits what I’m saying here), are the have nots the next. This my friend, is called karma.

In short, beware the superiority complex. Beware the narcissistic tendacy driven by pride. As soon as one thinks they are better than others, simply because they have oil under their feet, the one and same become worse off. Thats just how it is. Be careful with what one considers to actually “own” for I assure you, its all on loan and as such, the test of possessing “gifts” are no less challenging than the test of going without.

Some are quick to unite, others… quick to divide. Some are quick to forgive, quick towards peace, others are quick towards war with no peace in sight. In judgment/assessment, does one not look for the motives as to why? Some are humble, others proud. Some seek the truth/reality, others run from it. Who is more inclined to march to war or peace? It is those who believe that nothing changes… that nothing can change when in fact all things do including and often especially so ourselves, that are destined to realize the foolishness in judgment that makes no room for redemption/healing.

http://www.youtube.com/watch?v=ykIj190mJek

#227 ANONYNUS1 on 04.26.11 at 12:15 pm

delusion and lies are the Conservative excuses, the NDP will inherit more loss of government revenue that one can believe and be forced to come to a Liberal compromise.
Harper is dead meat.

#228 Ex-Cowtown on 04.26.11 at 12:15 pm

Prairie Gal:

As to whether a cap’n trade will or will not affect the Canadian economy, look no further than Alberta’s Special Ed Stelmach’s tinkering with the oil and gas royalty rates a few years ago. Capital dried up and left Alberta like there was no tomorrow. Now imagine doing that on a national scale.

Only Quebec would be happy. Wait a minute…. Layton…Cap’n Trade. …..Happy Quebec….

Coinicidence? I think not.

#229 Mister Obvious on 04.26.11 at 12:16 pm

Re Jack:

Clearly, the cane is more powerful than the piano.

#230 John on 04.26.11 at 12:16 pm

This is all just fear-mongering to get the Conservative base vote out. Conservatives vote on emotion, they are scared of left-wingers — even “lefties” that believe in balanced budgets, free markets, and scrapping the gun registry.

People who think rationally will see Stephen Harper, John Baird, Jason Kenney, Bev Oda, and Vic Toews for the malicious assholes they are.

Here is Saanich I am thrilled to be able to vote for Elizabeth May and not have to choose one of the big three. Hopefully Mr “Nuclear Without Safety Pumps” Lunn won’t get away this time.

#231 Scandinavia Rocks on 04.26.11 at 12:21 pm

“Of course, those cap-and-trade billions have to come from somewhere. That’s corporate earnings. Economists think that will gut job creation.”

“Economists think” huh, Garth? Good one.

I love to see all the economic libertarian knickers being twisted today.

It would be interesting if someone with more free time than me did a “Garth Blog Response Poll” – I’m thinking it might just show the pulse of the nation…

#232 prairie gal on 04.26.11 at 12:24 pm

sorry, Get Real and Ex-Cowtown and all the other climate change deniers. Flat-earthers such as yourselves are what is keeping Canada way behind the curve on productivity and economy-boosting innovation. If we continue to focus on short-term gain, we will see the rest of the world erect barriers to trade with us, collect tariffs and Canada will continue to be a low-performing pariah on the world stage, 100 per cent dependent on exports to countries who become increasingly self-sufficient both energy and food-wise. Canada is a latecomer to the global stage and we are notoriously backwards compared to everyone else.

The best thing we can do as a country is open our borders to foreign companies who can actually generate new ideas, processes and products within our borders, because clearly Canadians are neither smart enough nor up to the task.

We must, however, implement real environmental performance benchmarks with actual consequences for non-compliance, or we will be raped both economically and environmentally by all industries, foreign and domestic.

#233 pjwlk on 04.26.11 at 12:26 pm

It’s the Greatest Financial Scandal of Our Time, and the U.S. Government’s Triple-A Rating Is the Most Scandalous of All.

#234 jen on 04.26.11 at 12:26 pm

“we’d suddenly turn into a giant Denmark with too many beavers.”

Well its no insult being compared to Denmark!

#235 An Cat Dubh on 04.26.11 at 12:30 pm

Cap and trade is one of the biggest money swindels ever created. Envisioned by Ken Lay of Enron and Al Gore at the White House in the late 1990s. Carbon dioxide is one of the four elements of life and is not a toxic greenhouse gas. It only makes up slightly more than 3% of the atmosphere. We had more CO2 years ago. Search Medevial warming period. Al Gore and Obama are heavily invested in “carbon trading in Chicago”. Even if CO2 was proven to be the “cause”, wouldn’t it make more sense to have the factories in North America where we have higher environmental standards? Remember Climagegate, which the lame stream media seems to bypass. 2010 was not the warmest year on record. The IPC is a UN political organisation. Read the Copenhagen agreement. They want a world bank which you pay your “carbon taxes” to, and if you go further down the rabbit hole you will see they will bring in the Trojan Horse of world govt. Carbon Trading is a big Ponzi Scheme. I, BTW, do agree we should reduce pollution, etc, not to buy gmo food, and drive less when possible. I could go on, but people should do research and follow the $$$. I used to think global warming was man made, but not anymore.

#236 pjwlk on 04.26.11 at 12:31 pm

It’s the Greatest Financial Scandal of Our Time, and the U.S. Government’s Triple-A Rating Is the Most Scandalous of All.

http://etfdailynews.com/blog/2011/04/25/a-financial-atom-bomb-tbt-gld-ewz-fxa-xlf-skf-faz-fas/

#237 moloko on 04.26.11 at 12:34 pm

Ales #197
” Well, they printed my Cam Good rebuttal.

http://www.vancouversun.com/business/Vancouver+renting+better+option+than+buying/4674158/story.html

My thanks to Garth for turning me into a blatant pimper of the dark side. I only hope I got all my facts straight.

Problem is: How will I win my Global CRTC complaint now that the mainstream media is being so much more neutral? :-)”

Thanks Alex, fantastic article, I can’t believe they printed it! :)

#238 CalgaryRocks on 04.26.11 at 12:41 pm

#212 prairie gal on 04.26.11 at 11:31 [email protected] Milkman: Ottawa keeps the oil revenues, as does Norway. Alberta is not its own country. You don’t see the Norwegian provinces whining about this

Learn some history before you vote. Wow, seriously. Are you even qualified to be a Canadian citizen?

Does Ottawa also get to keep revenues from Hydro-Quebec? Yeah, I didn’t think so.

#239 Daisy Mae on 04.26.11 at 12:45 pm

“Large corporations shed jobs – they’ve been doing it for decades. They’ve even got a nice euphemism for it: downsizing.”

The first cutbacks are always top-heavy administration. Administration doesn’t produce a service or a product. They just manage — often, badly. A good example is Chrysler — producing cars no one wanted, remember?

#240 Devore on 04.26.11 at 12:45 pm

#102⁠ betamax

I don’t understand what is so bad about usage based billing. Every service and good you consume is billed per usage. Don’t like it, go with someone who charges you a flat fee. If there is such huge opposition to it, there will be dozens of choices sprouting up in no time to satisfy this enormous demand.

Oh, Garth, this year it is “climate disruption”, please get with the times and use the correct buzz word.

#241 Mister Obvious on 04.26.11 at 12:49 pm

#162 UK Love Calling

“In all the blogs I read, Canadians sound very ignorant and stuck in mindsets that are at least a decade old.

We’re spending most of our time preparing to enjoy the thrill of the royal wedding. Kate gives most of us red-blooded Canucks a woody and that dreamboat William,well… ’nuff said. Nudge-nudge, wink-wink.

Later big guy. I’m off to watch ‘Coronation Street’.

#242 CalgaryRocks on 04.26.11 at 12:51 pm

#209 Form Man on 04.26.11 at 11:24 am# 198 milkman

Alberta does not make transfer payments to Ottawa. All Canadians pay federal income taxes, some of which are then transferred back to the provinces under an ‘equalization’ scheme. You may disagree with the scheme, but the fact is Alberta doesn’t ‘transfer’ any more than any one else.

Wow, this site has even more financially clueless people than usual. We must be in the new NDP era already.

http://www.freealberta.com/transfer_payments.html

#243 Debtfree on 04.26.11 at 12:54 pm

@vtp thanks for the laugh .” alberta is canada’s life line ” your calculator needs a new battery .

this should be iggies theme song.
http://www.youtube.com/watch?v=nNIdqu7crW8&playnext=1&list=PL903B4C1E330779B4

#244 Keith in Calgary on 04.26.11 at 12:54 pm

Let the fear mongering begin……….heh.

I voted for the NDP candidate at the advance poll last night.

All my life I have been (and still am) a due hard capitalist, and my politics lean so far to the right of Ghengis Khan that I sometimes walk in circles. I originally said on this blog that I had given up on democracy and would not vote again, as I am leaving “Kanaduh” anyways in a few short years.

Having said that, the conservatives are no longer conservative in ideology, nor can they be trusted to tell you the truth about anything. They are the party of the banksters and the big businesses of this country……and neither of these vampire groups are the backbone of a strong and prosperous nation. The liberals, well, they are just F-in brain dead sewage IMHO………always have been.

We’re going down as a nation regaredless of who is elected. We are broke and out of gas. At least the NDP has stayed true to their ideology from day one in that you know what you are getting if you elect them because they are not running around lying and conniving behind our backs to hide their true colors like the liberals and PC’s are. Each of those idiot parties are goign to blow billions regardless, the PC’s on propping up the banksters and oil companies, the liberals on propping up Quebec and eastern Canada. But the NDP is going to blow billions trying to prop up you and me.

My money is out of the country…..has been for years now……so I have nothing to lose here. I want the great unwashed masses of house horny 20 and 30 somethings, as well as the rest of the morons who brought us into this mess thru their stupidity to experience the great cataclysmic experience of a depression so fierce and unbridled that it permanently changes their psyche regarding money and their belief system to their very core.

Bring it on……..

#245 Herb on 04.26.11 at 12:59 pm

#186 VICTORIA TEA PARTY,

your views seem awfully familiar, Sir or Madam.

Got it: you’ve strayed from Small Dead Animals!

#246 Vancouver_Bear on 04.26.11 at 1:06 pm

I visited a local White Spot restaurant over the weekend for a New York steak and a glass of wine. And guess what, they removed steaks from their menu, because ppl stopped ordering them…..This shows very well that majority of the BC residents are now in a worse financial situation then in 2008 and can no longer afford even a freaking steak. HAM and helicopter realturds will not save it, it has already started crumbling.
I will need to drive a little further to a different restaurant, but the main thing that I am not a mortgage owner and I can still afford my steak and a glass of wine at a restaurant.

#247 Heloguy on 04.26.11 at 1:06 pm

This cap and trade idea has me wondering if there is a way for me to buy credits and then sell them to companies that need them. I think I’ll start a website, call it Pollution traders.ca and then begin buying credits at ridiculously low prices for sale at a later date. I might even offer loans to others that want to invest in credits, at reasonable interest rates of course. Remember that you heard it here first unless someone else has come up with this plan. If so disregard this post entirely.

Cheers

#248 Form Man on 04.26.11 at 1:20 pm

#240 calgary rocks

I am supposed to believe a website dedicated to Alberta’s separation from Canada ? the whackos are still alive and well in Alberta it seems. In any case the website proves my point; Alberta does not ‘transfer’ payments to Canada, they simply receive less. It was notable that you did not respond to my point about Alberta squandering their geological lottery winnings ( all the while patting themselves on the back for their supposed financial intelligence). If not for oil, Alberta would be a backwater province with long winters and mosquito-ridden summers.

#249 David on 04.26.11 at 1:22 pm

My family have been CCF/NDP since the 1932 get together in Calgary, yep Calgary, AB when a small group of Progressives, farm and labour activists, Social Gospel Methodists and Eastern European immigrants tried to put forth a vision of a better and more fair Canada.
McKenzie King no less, nearly lost the election to the CCF in 1944. Secondly, the NDP have held the balance of power in Parliament on several occasions, so the alarm bells seem a bit overstated.
Harper and his empty suit cadre are a far bigger threat than any thing to this country. The Conservatives are not a nice bunch of decent Burkean Tories. Harper was judged in contempt of Parliament, which is something very unconservative and deemed unfit to govern in most people’s minds.
Peter Lougheed is no left wing activist and he warned of the dangers of rampant and unbridled development of the tar sands.
An overvalued Loonie is not going to help exporters, including Alberta, no less.
The Martin era deficit was in large part caused John Crow’s high interest rate policy and diminished corporate tax receipts. But hey, when yer only tool is a hammer everything looks like a nail and why let a good crisis go to waste.
Mr Harper also believes in tax and spend. Your tax dollars will be spent on uncosted Martin Lockheed F-35’s, expanded prisons full of mandatory minimum guests and providing gainful employment to his entourage of ethically challenged cronies.

#250 Ex-Cowtown on 04.26.11 at 1:27 pm

#245 Heloguy

Love your post. Oddly enough with my background and education, I could become a carbon trading auditor. I even looked into it a couple of years ago. Talked to some people at the IPCC. That was an eye-opening experience. They had no clue about what was going on, or how to audit anything, but wanted everybody to sign up anyways.

Problem was that I couldn’t swallow my bile long enough to aid and abet something that was such an unscientific and blatantly political scam.

Unicorns and Cap’n Crunch for everybody!

#251 BrianT on 04.26.11 at 1:28 pm

#234Cat-Lots of people are idiotic on this transparent scam-example-look at all the money Gore and Goldman have already banked on this grift, while China CO2 levels continue to soar.

#252 johndot on 04.26.11 at 1:29 pm

So…why DO we subsidize the oil companies?

#253 BrianT on 04.26.11 at 1:30 pm

#232Prairie-OK then to be fair we are going to have to label you as a “fraud and grift denier”.

#254 Another Albertan on 04.26.11 at 1:35 pm

I thought the western secession party essentially made up a large portion of the current “ruling” government?

#209/Form Man:

At least someone knows that Lougheed was involved in the negotiations and was a signatory… hallelujah! Everyone blames Trudeau outright. Nobody pins Mulroney with an unwind that took over two years to play out.

I have had numerous discussions over the last two or three years with oil patch veterans who have continually pointed out that “the behaviour of Joe Citizen is eerily like it was in the late 70 and early 80s”.

Regardless of the election outcome, there will be scads of people looking at politicians and policies of all banners as the scapegoats for their own actions and inactions.

Everyone else’s mileage may vary.

#255 BrianT on 04.26.11 at 1:38 pm

#164prairie-Jeez girl-who is pumping out global CO2? China is a toxic dump-I wonder why the grifters aren’t calling for global tariffs on Chinese goods until environmental damage is ended. Answer: they can’t make as much money that way. I am surprised you cannot see through this scam-it isn’t even a complex one IMO.

#256 prairie gal on 04.26.11 at 1:39 pm

To Ex-Cowtown: the federal government can legally glean income from resource extraction activity in ways other than royalty payments. Fact is they’ve been subsidizing Alberta industry for years with massive tax credits, soon to be removed. Too bad for Alberta.

As for Alberta’s tinkering with royalties driving out the oil industry, that is another convenient myth propounded by the oilmen shills. This coincided with new lower royalties and other goodies offered to industry for exploration in Sask from the newly elected Sask Party, which saw a boom in exploration as a result. The provinces should really start working together to maximize revenue AND economic development in an environmentally and socially responsible fashion, rather than undercut each other in a race to the bottom. Alberta is no longer the only place in Western Canada to get oil, and Sask’s reserves are superior in quality to the bitumen sands and much more economical to access (without the federal government support the bitumen-diggers receive, of course).

To Keith in Calgary: I’m right behind you. Have been calling this country “Cana-duh” for years now. I’ve witnessed a gradual dumbing-down of the masses with great distress. My exit strategy is well under way. Just need to be near family for the next few years and watch my nieces grow up a bit so they will enjoy visiting me on a certain Caribbean island with no income tax. Being a professional has its privileges.

#257 Alex on 04.26.11 at 1:42 pm

Except they initially published my name as “Gourd” (you know, like the pumpkin), instead of “Gord.” Curses!

#258 prairie gal on 04.26.11 at 1:44 pm

@ Heloguy: check out what happened to the Chicago Climate Exchange. Its gone. Why? Nobody wants to buy bogus credits. Lots of cowboys were looking to game the future cap and trade system and were sorely disappointed by the level of regulation and checks and balances that a regulated program will require. No more phoney baloney credits for farmers to do what they’ve always done. No more credits for trees never to be planted in the future.

There is an entire industry developing around quantification and auditing of GHG emission assertions. The time to defraud the system is gone, thank God.

There are plenty of GHG project ‘aggregators’ that purport to act as brokers between buyers and sellers of carbon credits in Alberta. I know many of them. Its a cutthroat industry.

#259 Mat on 04.26.11 at 1:51 pm

Check out this article from Gord Goble @ Vancouver Sun. He must be a fan of your blog.

http://www.vancouversun.com/business/Vancouver+renting+better+option+than+buying/4674158/story.html

He is our Star Blog Dog of the Day! — Garth

#260 Hell in a Handbasket on 04.26.11 at 1:54 pm

The only candidate in our riding that is talking about the issues and it isn’t the NDP.

http://www.jamiescott.ca

#261 Hell in a Handbasket on 04.26.11 at 1:58 pm

Vote independent. Have your independent introduce popular bills and when the other MP’s try to vote it down get the media involved and get the bill tried in the court of public opinion. The longer the party MP’s vote against the people’s wishes the more likely they are going to be thrown out in favour of an independent.

#262 AG Sage on 04.26.11 at 2:01 pm

>#234 An Cat Dubh on 04.26.11 at 12:30 pm

Since when is CO2 not toxic?

http://en.wikipedia.org/wiki/Carbon_dioxide#Toxicity

#263 Maxamillion on 04.26.11 at 2:02 pm

Family Guy episode about undecided voters.

http://youtu.be/0YOh-rpvjYg

#264 betamax on 04.26.11 at 2:09 pm

#197 Alex: “Well, they printed my Cam Good rebuttal.”

Good article, well written and argued! Congrats!

#265 Debtfree on 04.26.11 at 2:17 pm

@244 vb ppl stopped eating beef not because of the dollar price but because of bse and the fact that inspection of beef in canada is a joke . The feed lot beef/pork is so full of antibiotics and hormones that no one should trust it and few do . The proof is in the fact that the national herd is at all time low levels.
I read fast food nation years ago … you can’t trust the restaurant industry . Their margin is worth more to them than your health.
I love seeing harper at all the bbq’s choking down hamburgers this election cycle . Gives me hope and makes me laugh .

#266 betamax on 04.26.11 at 2:18 pm

#238 Devore: “I don’t understand what is so bad about usage based billing. Every service and good you consume is billed per usage.”

It’s a blatant money grab, and we already pay far too much in Canada for bandwidth. Wait till it’s implemented and your bill skyrockets.

#267 betamax on 04.26.11 at 2:28 pm

#244 Vancouver_Bear: “This shows very well that majority of the BC residents are now in a worse financial situation then in 2008 and can no longer afford even a freaking steak.”

It only shows that White Spot customers aren’t ordering steaks. (a) White Spot isn’t a place renowned for steak. (b) Tastes have changed; most people in Vancouver don’t order steak.

#268 Aaron on 04.26.11 at 2:29 pm

Holy Hyperbole, Garth! I’m not a huge fan of the NDP platform, but the outcomes you predict from a potential NDP-led coalition gov’t are analogous to a “dipper” claiming that a Harper minority gov’t will lead to a dystopic NeoCon republic where our corporate overlords privatize the air we breathe and make it mandatory for everyone to carry an unregistered firearm. Its foil-hat stuff, Garth, but still fun to read.

cheers.

#269 skyrider on 04.26.11 at 2:37 pm

#162 UK Love Calling
“Or, do Canadians do it to convince themselves to feel better about their huge inferiority complex by constant spoon feeding of deceit, creating an overall euphoric delusion?”

What does this sentence mean? Please clarify.

#270 betamax on 04.26.11 at 2:42 pm

Devore — the UBB is particularly insidious because the data usage costs the ISP’s nothing — they have gobs of idle bandwith.

The big players also want to sell you their own video streaming services, which will be exempt from the UBB caps (natch, because the data flow costs them nothing). The entire UBB enterprise is a scam designed to rip off consumers (twice, as we were already ripped off previously) and kill competitors like Netflix.

#271 patience on 04.26.11 at 2:45 pm

RE: Alex on 04.26.11 at 10:50 am

Well, they printed my Cam Good rebuttal.

Hi Alex, thank so much for doing this! My husband and I have been wondering if the Sun would print your article, and they did, so cool! Awesome piece :)

#272 Hoof - Hearted on 04.26.11 at 2:50 pm

Good post Garth…one I never would have assumed, let alone expected.

The NDP is not used to power, it will be like a sackful of cats.

They will pay back favours as their first agenda… and set up rules and legislation that will be almost impossible to amend and/or rescind.

Layton will rape and pillage Alberta….may even do another NEP….

Harper does look exhausted.

I don’t know what to say , is this some karma ? as when the NDP gets in power its always been a disaster. Is NDP mentioned in Revelations ….perhaps cryptically

#273 bigrider on 04.26.11 at 2:58 pm

Garth- Want your opinion on those Incomeplus, income replacement type deals offered by Manulife and the rest.

I think that they are heavily fee laden and basically a ripoff to the buyers. People are under the impression that they are making a minimum of 5% a year when really it is an increase of 5% on a guaranteed amount of a proposed annuity type payout.

These products are highly restrcitive, no access to your capital without losing guarantee and fees upon fees which can clearly be increased at the discretion of the provider.

Stay away ? Right?

Right. Why do you need me? — Garth

#274 UK Love Calling on 04.26.11 at 3:02 pm

Skyrider, thank you for proving my point. Absolute stupidity.

#275 Renting in Sherwood Park (Sold in Edmonton) on 04.26.11 at 3:02 pm

I’m not that big of a fan of the amount of money the oilsands keeps relative to what it pays in taxes but it does creat a lot of wealth for Alberta AND Canada and Quebec since they like being called their own country.

Saying that i came over from a communist countries so i am in the opinion of less government control. I strongly believe that the NDP must raise taxes to achieve any of their promises. The cap and trade promise is theoretic only and is not in place. In fact, Layton is shying away from promises of what the cap and trade system will bring into government coffers.

#276 Ex-Cowtown on 04.26.11 at 3:03 pm

Prairie Gal said:

There is an entire industry developing around quantification and auditing of GHG emission assertions. The time to defraud the system is gone, thank God.

++++++++++++++++++++++++++++++++++++

Your naivete is showing.

There’s an entire accounting audit industry surrounding Bernie Madoff that is infinitely more sophisticated and transparent than the CO2 trading industry could ever be and it still didn’t stop him.

#277 Gord In Vancouver on 04.26.11 at 3:06 pm

#197 Alex

Congratulations and well done!

#278 skyrider on 04.26.11 at 3:08 pm

UK Love Calling

you’re very welcome…proved my point, too.

#279 CalgaryRocks on 04.26.11 at 3:11 pm

#246 Form Man on 04.26.11 at 1:20 pm
#240 calgary rocks

I am supposed to believe a website dedicated to Alberta’s separation from Canada ? the whackos are still alive and well in Alberta it seems. In any case the website proves my point; Alberta does not ‘transfer’ payments to Canada,

Proves you don’t know how to read and you’re dumb as bricks.

#280 Victoria on 04.26.11 at 3:16 pm

Alex,

Well done. I am so glad you did this!

#281 Diffrent on 04.26.11 at 3:18 pm

#197 Alex :

Well done, my friend.

#282 Coho on 04.26.11 at 3:20 pm

13 billion is like a rounding error to the Feds. However I do not support this cap n trade greenwashing stuff.

Thinking people would never support the emissions trading schemes, which are driven by the ruling class. Throwing money at such things never seems to solve the problem. All it does is create another money sucking machine. Yes, this tax would go to government coffers which pay for services, but the push ultimately is for a global entity to collect carbon taxes. If Layton is “Green” then he becomes a friendly leader in the eyes of those pushing for the ETS.

If my recollection is correct, Harper was against the ETS, so this recent surprising and unexpected surge for Layton is not so surprising in the bigger picture. This new found popularity is also appearing to weaken the BLOC, which suits very well, people in high places.

#283 Nemesis on 04.26.11 at 3:21 pm

[email protected]

NiceOne!!! Accordingly, a special treat/and visual retort to the Hon. GT’s disparaging commentary on Scandanavian lifestyles (“a giant Denmark with too many beavers” – and what’s worse, GT says that as it though it were something bad!)…

The following is ‘too saucy’ (by Ontario standards) to link here… but if you enter the search string “The BEST ever commercial – Fleggaard” into youTube you’ll find it. And in the interests of equal-opportunity prurience, ladies may enjoy performing the following youtube search, “Fleggard – For the Girls”.

#284 Nick on 04.26.11 at 3:24 pm

The separatists will destroy Canada!!
Er, No, wait : NDP will destroy Canada!!
I think I like this blog better when it makes fun of house porn.

#285 D from London, ON on 04.26.11 at 3:28 pm

I always like to hear the extremists ready to burn their crops and hitch up the Conestoga wagons the minute they hear something outside of their comfort zone.

A few weeks ago the extremist Albertans who post here (N.B. to be clear, I am not saying that Albertans are extremist) were telling Central Canada to bend over and prepare to receive the goods from a Harper majority government. Now that wheel has (temporarily at least) turned, they are running around saying that the sky is falling. Get a grip.

I have never been one to support the NDP, but if (a huge if) the NDP govern Canada I doubt they will be governing more from the left than the current Conservative government governing from the right. All politicians talk big, but when it comes time to deliver there are way too many special interests in place to make sure that real change occurs only around the margins of our society.

Relax. People who are predicting the end of the world need to put down their newspapers/computers and go out and polish the chrome balls hanging under their pick-ups. Spring is here. Go and vote on Monday night and we’ll all be back here Tuesday to puzzle over the results together.

#286 Caleb on 04.26.11 at 3:29 pm

EKOS polls are notorious for being left leaning.. just like Ipsos Reid and Strategic Council tend to be right leaning.

Nanos tends to be the most accurate.. and he paints an entirely different picture.. in fact according to Nanos the Tories are cleaning up everywhere but Quebec.

#287 prairie gal on 04.26.11 at 3:33 pm

@ ex-cowtown: calling me naive is not an argument. You know nothing about me, little man.

This has nothing to do with Bernie Madoff (who, by the way, was caught and prosecuted).

The fraud in CO2 markets is despicable, which is why the better route is a carbon tax. Less administrative burden, little to no opportunity to game the system, and industry internalizes its damaging environmental externalities, thus righting a massive market failure.

In a regulated cap and trade, there will need to be strict auditing and prescribed quantification protocols, which is great for the professionals that conduct these services, but more costly overall to government and business. Of course, the industry wants a carbon tax. Its the governments that want cap and trade. Go figure.

Alberta is way ahead of the rest of Canada on a carbon system. Its not perfect but it hasn’t exactly decimated their petroleum industry, has it?

#288 Dan in Victoria on 04.26.11 at 3:39 pm

Wow this is great a good lively discussion.
Lots of pros and cons.
I’m really enjoying reading this for once.

I won’t step in though politics and religion debates I steer clear of.
Also any comments about the wifes newest hair doo and do these jeans make me look fat.

Off Limits for Dan.

#289 VICTORIA TEA PARTY on 04.26.11 at 3:41 pm

#192 Mackie

NDP: RAIDING OTHER PEOPLES’ POCKETS

When I deal with the so-called business community it is as an investor buying and selling various securities, listed on stock exchanges, in the hopes of receiving dividends and capital gains. When I take part in such enterprises I do so willingly and not as an indentured victim.

Taxation. Ah yes. Victimhood for so many with little or no recourse. Taxation is mandatory. Investing in the markets is elective. There is a BIG DIFFERENCE, Mackie!

The federal Tories have been much easier on my wallet since Mr. Harper first became Prime Minister and that is why I voted for the Tories in the advanced poll last weekend.

As a long-time resident of BC, I have experienced two NDP-government eras in which my back pocket was picked, and picked, and picked again.

I don’t want that to happen anymore. I trust Jacko about as far as I can throw him. He has a lean and hungry look.

At this stage of the federal election campaign, I find it perplexing, but not too surprising, that the NDP is picking up support from younger and old voters, apparently.

The younger voters obviously want government jobs, so they’ll vote for their future masters, while the old geezers just want a further top-up of their pensions.

In other words these louses want to pick my pocket more than I wish for it to be picked!

To Hell with them!

They need to take more responsibility for their own behaviors, aims and objectives.

Enough from the entitlement classes already. All of them. And that includes Big Oil.

#290 In europe on 04.26.11 at 3:44 pm

Devore, not sure if you have ever stuck you head out of canada, but Marie was right on. Canada, over the past 5 years has managed to erode it good international reputation.

While we canadians have always benefited from an incredible wealth due to natural resources, it is only recently that we have decided not to share with anyone else. One only needs to compare Norway and Canada and the % of GDP they contibute abroad.

The end result, negative image abroad, and a huge Dutch curse, where in the extreme the Canadian dollar increases, and kills any
industry other than resource extration.

thankfully the majority of Canadians do not, and have have never supported the current government. My only regret, if Harper losses, someone else will be required to clean up his mess in housing/economy.

#291 Industrial Guy on 04.26.11 at 3:51 pm

NDP Government? ..sure ….I guess anything is possible. I would prefer to have the social-democrats who are running Denmark right now though.
Their unemployment rate is 4% Their GDP is growing at +2.9% Denmark is also net exporter of manufactured good and oil. Inflation is a concern …2.7% but, interest rates are at .75%.

If the NDP could provide the same economic numbers for Canada, I think we all would be happy.

“Denmark is the most taxed country in the world with a tax-to-GDP ratio of 48.9%.” — Garth

#292 R on 04.26.11 at 3:56 pm

‘At a time when governments are trying to reduce spending’

I hope you don’t count the US in that group. They’ve proven that they are entirely unwilling and unable to produce any kind of spending in the face of multi trillion dollar deficits, despite the comedy of the faux government shut down drama.

#293 Bruce on 04.26.11 at 4:11 pm

Damn these emission control schemes. Surely if we just ignore a big issue long enough it will just go away, right? Kind of like ignoring unsustainable housing prices?

#294 Ex-Cowtown on 04.26.11 at 4:14 pm

Prairie Gal:

I don’t mean to insult you. If I did, I might have slapped you on the bum for calling me names. But enough idle chit chat; I’m simply stating facts.

CO2 trading in every jurisdiction has so far resulted in massive fraud. Are you telling me ” It’s different here”?

There will be no bum-slapping on this blog. Unless it’s mine. — Garth

#295 Johnnie on 04.26.11 at 4:23 pm

Quebecers aren’t voting for NDP because separatism is fini, it’s because the NDP is not hostile to separatists, in fact many of the NDP Quebec candidates are separatists who still advocate it.

The NDP has sent the message that it will defend the french language more rigorously than the cons and liberals and will allow separatists into their party. Just look at Thomas Mulcair who acted as a lawyer in Quebec’s Ministry of Justice; Commissioner of the Appeals Committee on the Language of Instruction (1986); was President of l’Office des professions du Québec (1987 to 1993) and as a board member of the Conseil de la langue française.

#296 An Cat Dubh on 04.26.11 at 4:27 pm

AG Sage on 04.26.11 at 2:01 pm
>#234 An Cat Dubh on 04.26.11 at 12:30 pm

Since when is CO2 not toxic?

http://en.wikipedia.org/wiki/Carbon_dioxide#Toxicity
.
I know CO2 by itself is toxic. We had a few deaths years back in the wine industry due to CO2. I support no political party. They all work for the same people, ie The Bilderbergers, etc. Will be nice when the blog gets back to real estate and investing again. :)

#297 EX-CONSERVATIVE on 04.26.11 at 4:37 pm

I don’t Think Canadians can deal with madman harper. Harper is anything but a true conservative which is why conservative voters are turning away. I will be voting liberals and maybe ndp but I will have to Think hard on that one. Harper must go.

#298 Steven Rowlandson on 04.26.11 at 4:41 pm

If Stephen Harper is a king he’s not very good at it.
I think a successfull king would show a profit to reduce debt and also set the right example in the interests of public morality. I don’t think Kow towing to other countries and going to war to defend political correctness would be on the agenda either.
By that yard stick king stephen and his fellow travellers are total failures. High debt, poor moral policy, sucking up to other countries and war for political correctness is not my idea of the right thing to do.
We do need a new government but I don’t see any viable choices on the ballot…. I guess I am against all of them.

Steven

#299 KIM on 04.26.11 at 4:42 pm

The conservatives are all about corporate interests and those interests are for those who are rich. I am working class liberals or ndp.

#300 Enlightened on 04.26.11 at 4:49 pm

#197 Alex on 04.26.11 at 10:50 am

Alex, Congrats & Thanks! Well done!

I forwarded it to my friends (a couple) who told me that they are considering a 6-bedroom million dollar home in Langara (because buddy did it) (in Vancouver). They can rent out the rooms to students. Their original budget was <$800K.

#301 KIM on 04.26.11 at 4:53 pm

Conservatives equals corporate socialism. Bailout for corporations? I would rather have that money spent on me the working class.

#302 Coho on 04.26.11 at 4:55 pm

Canada has its lumps coming I’m afraid and maybe we are due. We really do take too many good things for granted in this nation. Canadians may have to lose essential services outright before realizing how lucky we’ve had it and why.

We’re paying for those essential services. They are not gifts from the goodness of the governments’ heart. And we are not “lucky” to have them. They are deserved because they are being paid for by citizens of this country who work a forty hour work week (if they still have their jobs) and pay total taxes of over 50% until early July when it becomes “tax free day”.

Our buying power has been diminishing for decades now. Single family incomes have become dual income earners to keep up a middle class lifestyle and even that isn’t enough because we must take out HELOCS and rack up credit card debt to maintain a reasonably comfortable lifestyle even with two household incomes.

Why is it that working people who generate real wealth which gets funnelled into the hands at the top are being told they are lucky to have had it good for so long when if fact in real terms, we’ve been going backwards for decades. The gap between the haves and have-nots is widening.

The subtle implication that we are lucky we are not starving Africans gets tiresome not to mention annoying. If Africans (and others) were left alone and not invaded by multi-national corporations which have disenfranchised them from their land and resources and thus a decent living, they’d be much better off. If the wealth in this world was even remotely equally distributed, every person on this globe would enjoy a middle class existence. Instead we have to expect ever less so big business, big banking and the ruling class continue to collect more.

What people deserve but take for granted is our freedom and liberty which gets chipped away at with every crisis or emergency, whether real or fabricated. Yes, we are sleepwalking and paying the price, but we haven’t had it “lucky”.

#303 AKatz-Oaville on 04.26.11 at 4:55 pm

Do you know this Buy/Rent Calculator?

http://www.nytimes.com/interactive/business/buy-rent-calculator.html

For me buying is never better than renting after 30 years even if the house price appreciates by 1% per year (not exactly what we expect… )

#304 ballingsford on 04.26.11 at 5:03 pm

You have really touched a nerve today Garth. I used to think 150 posts were a lot when I got home after work to read your blog, then I was amazed that it had grown to 230 posts (on average) when I got home.

Now it’s at 292 posts when I opened your blog.

Anyway, my hood in the MLS is full of red dots and a lot of the homes for sale have pictures with the leaves on the trees and nice lush lawns and they haven’t lowered their asking prices. Currently, in this area, the trees only have buds and the grass is just starting to turn green, so the pics are from last summer or fall.

Doesn’t look good for sure.

BTW, with Layton doing very well in the polls, it’s hard to know who to vote for, the Libs or the Dippers. Just need to cast my vote the right way so that Harper doesn’t get his majority.

#305 Abitibidoug on 04.26.11 at 5:07 pm

Did I hear Garth say that the NDP winning the election could crash the stock market? Great, that would create a buyer’s market, so those of us with some cash still in the orange guy’s shorts can buy some good stocks (or funds that invest in them) at cheaper prices! While I’m not sold on the idea that an NDP government would be the best outcome, I would be glad to take advantage of a buying opportunity it might present. It might also be a boost to renewable energy companies.

#306 Kaganovich on 04.26.11 at 5:10 pm

Wow…quite a lively thread of comments already! Looks like the business types are in a tizzy over the prospects of a potential surge in NDP popularity. Its amusing to listen to them predict the outright destruction of the economy if the NDP gains some political power chances……… on Garth’s blog of all places! Isn’t it on this site that we get regaled every morning with the mistakes and crippling economic decisions made by the conservatives? Are there still people who subscribe to archaic neoliberal ideas such as trickle-down theories of wealth movement? Cutting taxes is a deflationary move, and building more prisons is the natural correlate to that, for where will we stick all the able-bodied and unemployed men and women after the economy is further gutted by the neoliberals? One poster and Garth were right, the majority of our jobs come from small and medium sized enterprises, and the NDP isn’t out to hurt this sector as far as I can tell. When these businesses thrive, demand is strengthened, which should provide for a more hospitable investment climate…mitigating capital flight/speculation. Anyways, the American is right. The seeds of destruction have already been sown by our ‘prudent’ conservatives…the only question now is who will be blamed for it. We already have a hunch who will pay for it!

#307 Derek on 04.26.11 at 5:51 pm

#303 Kaganovich on 04.26.11 at 5:10 pm wrote:

Cutting taxes is a deflationary move

Whoah there! I agree with most of what you say in your comment but I can’t let that go by. Cutting government taxation is an inflationary move because it ends up leaving more money in people’s pockets. It’s cutting government spending that is the deflationary move since it returns less of that tax money to people’s pockets.

So, in the absence of private banking, if the gov wants to cause inflation, it cuts taxes and increases spending. If it wants to cause deflation it increases taxes and cuts spending.

Since we have private banks it’s not quite so simple since the banks can do the same with money as the gov does. It’s just that the banks call their money flows loans and repayments instead of spending and taxes. They have the same effect on inflation/deflation though.

Lastly imports and exports have an effect too. Imports are deflationary and exports are inflationary.

So that’s why it’s so difficult to control inflation/deflation: lots of players in the money game.

#308 Increasing that 1% on 04.26.11 at 5:55 pm

“…no bum-slapping on this blog. Unless it’s mine. — Garth”
>Trying to recover from the visual
————————————————–
>Since the ‘Conservatives’ -or C.R.A.P. -approve the term ‘The Harper Government’ they’re basically saying to voters it’s the leader that is the main factor in what one is voting for.
So, if that’s what they’ve made the focus to be, and of all the leaders, Jack Layton is the one most people trust, then why couldn’t Layton be ‘elected’ per se.
——————————————–
>It’s interesting the times when your site goes down, (last night) ie: whose toes may have been stepped on
——————————————–
>Lots of fear- and fearmongering- being displayed here. There’s always an argument for both sides of the fear, though
——————————————–
>As healthcare is always in the top two issues, again we hear about Nurses and Doctors from the Politicians during election time.
Glad Layton says things as ‘we will hire more…’ vs trying to act as though there is a shortage and there is a need to subsidize those special few to go to places that are supposedly understaffed because no one wants to go there
——————————————-
>BTW, Actor Michael Douglas’ throat cancer was caught here, by a Canadian ENT Doctor, after 9 months of him seeing some of the best (I’m sure) Doctors Hollywood money could buy

#309 Alister on 04.26.11 at 6:25 pm

Let me get this right.

All the lefties were in the NDP. When they weren’t getting their way, they moved to the LIBs.

Now the Libs are toast, so they want to all run back to the NDP.

Does anyone remember when Bob Rae discussed with Buzz Hargrove about defaulting on Ontarios debt? That would have been a disaster.

#310 Future Expatriate on 04.26.11 at 6:26 pm

Can you send one of those south of the border, asap?

Thanks!

#311 jess on 04.26.11 at 6:37 pm

“It was a sweet deal for the bankers. They received interest payments on the government securities that were up to 12 times greater than the Fed’s rock bottom rates, according to a Congressional Research Serviceanalysis conducted for Sen. Bernie Sanders.

“This report confirms that ultra-low interest loans provided by the Federal Reserve during the financial crisis turned out to be direct corporate welfare to big banks,” Sanders said. “Instead of using the Fed loans to reinvest in the economy, some of the largest financial institutions in this country appear to have lent this money back to the federal government at a higher rate of interest by purchasing U.S. government securities.”

The Federal Reserve claimed at the time that the emergency loans were needed so banks could provide credit to small- and medium-sized businesses that desperately needed money to create jobs or to prevent layoffs. “Instead of using this money to reinvest in the productive economy, however, it appears that: JPMorgan Chase,
Citigroup, and
Bank of America

used a large portion of these near-zero-interest loans to buy U.S. government securities and earn a higher interest rate at the same time, providing free money to some of the largest financial institutions in this country,” Sanders said.”

http://sanders.senate.gov/imo/media/doc/sanders-bankholdingsofsecurities.pdf

#312 Alister on 04.26.11 at 6:37 pm

#211 Prairie girl

Your 100% right, how people can’t see something so obvious, like the price of oil went down ALL OVER THE WORLD at that time, yet still blame the NEP.

The public is so stupid they believe anything.

Nice try Garth.

#313 BrianT on 04.26.11 at 6:39 pm

#291Bruce-Actually, yes. Contrary to the MSM pap you have been fed, we do not have an unlimited supply of stuff to burn and once it has been burnt it is pretty well gone for good.

#314 Derek on 04.26.11 at 6:40 pm

#83 Devore on 04.26.11 at 12:43 am wrote:

Corporations do not have the power to print money. Raising corporate taxes ultimately results in higher retail prices. I am sure everything will be fine for a while, the supply chain can absorb some increases, just like they have done with the recently increasing commodity prices.

So higher taxes will be passed on to consumers. To believe otherwise is to believe in voodoo economics.

Hmm. The question of what gets passed on to consumers and what doesn’t is a bit more complicated than you seem to think. And all economists are pretty much agreed on the way it works, not just the voodoo ones.

It all comes down to supply and demand. Basically if a good is in horizontal or near horizontal supply, (something like liquid nitrogen perhaps), then you are right: Any increase in tax on the good will be passed straight on to the consumer.

But it’s a different story for goods in vertical or near vertical supply (something like broadcasting spectrum rights). With these goods the supplier is already charging as much as the consumer can afford, so if the supplier tries to pass on the tax, the consumer won’t be able to buy. As a result the supplier has to pick up the whole tax tab.

Most goods fall in between these two extremes, so the supplier will be able to pass on some of the tax to the consumer by raising prices but not all of it.

The lesson which governments should take away from this is that only goods with a near vertical supply curve should be taxed. That way the taxes would hit profits on goods in vertical supply but they wouldn’t have much effect on consumer prices. So the point that Devore makes about regressive taxes becomes irrelevant.

Regressive is one thing that taxation on goods in near vertical supply ain’t.

#315 Jack Layton next PM on 04.26.11 at 6:47 pm

#292 Ex-Cowtown on 04.26.11 at 4:14 pmPrairie Gal:

I don’t mean to insult you. If I did, I might have slapped you on the bum for calling me names. But enough idle chit chat; I’m simply stating facts.

CO2 trading in every jurisdiction has so far resulted in massive fraud. Are you telling me ” It’s different here”?

There will be no bum-slapping on this blog. Unless it’s mine. — Garth

============

I will also introduce a Bum Slapping tax.

( Ass – Kissing is another matter).

#316 Jack Layton next PM on 04.26.11 at 6:57 pm

Yep…I am on a roll, victory is assured.

I think we’ll have the blog tax next. Free speech is really not free….

Then I will situate the shipbuilding industry in Saskatchewan, so BC and Newfie SOBs quit fighting.

Alberta?
I think we’ll just expropriate the resources….and the Liberals via Bill C-68 already took away their guns…so no problem there.

Quebec ?
Tough one. I think we should turf the Non Withstanding clause , cut their subsidies and dilute their voting base by telling all immigrants they have to live in Quebec for 2 years. Tabernac !!! (maybe reduce the bum slapping tax as compensation ?)

Ontario ?
Being green, I can see a resurgence in the Horse and Buggy industry there.

#317 Frank on 04.26.11 at 7:01 pm

It’s only one poll of many more to come.

#318 S.B. on 04.26.11 at 7:09 pm

320th!!? busy day on the Blog, alpha dog Garth threw a juicy morsel to us! :) Let’s chew on it.

#151 April Showers on 04.26.11 at 9:04 am

Maybe you should read this, first.

http://theeconomiccollapseblog.com/archives/american-hellholes

#319 Q on 04.26.11 at 7:09 pm

young ppl love Layton, have you seen that vintage photo of him? HAWT!

He’s just on the wrong team.

I cringed when I saw him promoting the NDP on the multicultural channel bc he promised to make immigration a breeze to your family of seniors back home. Yes! Come leech off of our health care and pension!

#320 S.B. on 04.26.11 at 7:12 pm

Possible titles of Garth’s next book:

– Making out like a Bandit: how my dog taught me financial lessons

– Bust, Boom, and Bust: how an entire generation blew it

Blog Dog Power!!!

#321 Timing is Everything on 04.26.11 at 7:16 pm

Garth, Did Jack Layton pay for that NDP Ad spot or is it a ‘donation’ on your part?

#322 Kaganovich on 04.26.11 at 7:18 pm

Derek

Yes, I should have been more specific. I think cutting taxes for the wealthy results in demand destruction since the growing concentration of wealth (exactly which people have more money in their pockets?) finds the allure of quick and healthy returns through speculation and other FIRE sector paper shuffling procedures more appealing than chancing an investment in the real economy. It is a class thing. Stiglitz makes a strong case in his latest vanity fair article which he discussed in an interview with A. Goodman on DN. Anyways, what I am getting at is shift the target for taxation up a bit, and don’t spend the revenues on prisons and fighter jets (are the latter imports?).

#323 Kaganovich on 04.26.11 at 7:21 pm

Attention Dawgs!

Some context by an informed writer:

http://www.alternet.org/story/150697/chomsky:_is_the_world_too_big_to_fail_the_contours_of_global_order/?page=entire

#324 Jack Layton next PM on 04.26.11 at 7:22 pm

I will confiscate all homes that are assessed/listed over $1 Million.

After I pay back all the political favours I owe, I will put the rest on the open market.

I will put a moratorium on retro-active taxes on granite countertops and hardwood floors. If you are not happy with bees-waxed plywood floors, you are not the apartchiks I will demand.

I will then declare war on the US….by first invading Hawaii with my cabinet on a time share ie kick the tires.

We will use the Cuban health care model , as endorsed by Michael Moore.

#325 Canayjun on 04.26.11 at 7:38 pm

Wow, the NDP sunk BC when they were elected, wasting so much money on those fast ferries that were only used for a year or two and then sold at a great loss.

#326 VanCity Girl on 04.26.11 at 7:44 pm

Garth, I’m shocked as to how many lefties read your blog. After all, this blog is about smart investing and finance. About capitalizing your gains. Why on earth are socialists reading this blog? Do they not understand what NDP is all about?

#327 S.B. on 04.26.11 at 8:29 pm

A bearish market opinion. I don’t know…but a 2000 point pullback on the Dow (yes yes that average of only 30 stocks) would not be out of order at this point.
Let’s see what the US Fed brings, tomorrow. I mistakenly posted it as occuring today. :oops:

April 26, 2011, 12:01 a.m. EDT

2008 crash deja vu: We’ll relive it, and soon
Commentary: New bubble is hotter, bigger than the last one

http://www.marketwatch.com/story/2008-crash-deja-vu-well-relive-it-and-soon-2011-04-26?link=MW_story_featcomm

#328 maxx on 04.26.11 at 8:59 pm

#99 Ruraldude- cute that you borrowed from the golden book format, however, most of the money’s now offshore and decent jobs are going,going….gone… so the threat’s hollow and most people know it.

We need a PM who actually gives enough of a damn to show up for work.

Go Jack!

#329 Citizenman on 04.27.11 at 12:57 am

Raising royalties on the oil patch may slow things down but it will not stop the oil patch. There is a shortage of oil in the world with the amount of production being very close to the amount of consumption. Raising the royalties received will be a benefit to Canada.

#330 Poppa G on 04.27.11 at 2:02 am

Canada is the only country that dodged the bullet of the worldwide economic meltdown. Layton as PM should give us lots of new chances to share the fate of Iceland, Portugal, and Greece.

C’mon Canada – suicide is a sin, isn’t it?

#331 fly on 04.27.11 at 3:31 am

We need a PM who actually gives enough of a damn to show up for work.

#332 UK Love Calling on 04.27.11 at 9:27 am

@327 Poppa G, Canada hasn’t dodged a bullet at all. This is the problem with Canadians. Canadians really do believe it has been superlative with its banks, lending, and consumer spending. It hasn’t. Its banks have been the worst and its people are clueless. Clueless. That is just they way your government wants to keep it. Your day is coming and the consequences will be grand. Once I had sympathy for Canadians, and I believed you would skirt the melt. All I had to do was take about two hours to follow the money and discover just how irresponsible your banks and government are. Now, the world is viewing you as awash with stupidity and utter ignorance, yet you want to claim superiority with snide rhetoric. Canadians have a very difficult time admitting when they’re in the wrong, which is why you would be looked upon as childish. Everyone outside your country recognizes the economic melt that is already happening in Canada. Why can’t you come to terms with it and accept it? You’re making fools of yourselves. Please see my post at 162. It sums it up in rhetoric quite well.

#333 Morry on 04.27.11 at 9:28 am

best thing for democracy in this country is to spank harper. by monday his numbers will be down under 100 seats.

#334 Bruce on 04.27.11 at 9:57 am

310 BrianT

Your sarcasm detector is broken. Read my post again

#335 Caleb on 04.27.11 at 11:30 am

and the new nanos poll is out showing the same trends. Jack is going to be PM.

#336 Christian Laurin on 04.27.11 at 11:56 am

The “Blocheads”? Why don’t you go fuck yourself, you pretentious little federamoralist? You think we’re mentally deficient because we choose to support this cause over the Canadian dream? You just turned a fan into a pissed off Montrealer.

My term was disrespectful of a political party, not the sovereignty movement. BTW, I am a federalist. Your cause sucks. — Garth

#337 rental monkey on 04.27.11 at 1:12 pm

I have a feeling the youth vote is going to shock this country this time around, much like ’08 in the US. It will be very interesting to see the final #’s. I did the advanced poll and was quite shocked how many were there. If those numbers are indicative of voter turnout, this may be our highest yet. I hope so. Too many countries worldwide, don’t get the privilege many Canadians take for granted.

I think one thing the majority agrees on is “Bye-bye Harper”

#338 Vancouver_Bear on 04.27.11 at 2:20 pm

#265 betamax on 04.26.11 at 2:28 pm

Yep, you are right Vancouverites switched now to fish rich with Iodine-131 and Caesium-137 from Fukushima. This is the only explanation for the local insane mentality.

#339 Jamie Scott on 04.27.11 at 5:07 pm

There is one candidate in this country with a platform to legislate honesty.

#340 Dan W. on 04.27.11 at 5:31 pm

I hope Jack wins, I’m tired of the Communist Conservatives. Under the Cons, only the rich will get richer and the poor will continue to become poorer. If the Cons were to win, this country would turn into a dictatorship. The NDP will find a balance and lead this country in the right direction.

How is it that the richest 100 people in Canada control 95% of this country’s wealth? It’s not right!!!! The Conservatives are out, the NDP are IN!