While John Ivison starts out with a sensible premise, that the Trudeau liberals are sending the Canadian economy off the rails, he can’t seem to resist sending his own op-ed off the rails by attempting to associate a discredited Keynesian nostrum with libertarian Argentinian President Javier Milei.
At the same time, Milei’s invocation of the animal spirits of wealth creation is all but absent from the collectivist capitalism pushed by Freeland and Justin Trudeau.
It gets even worse when Ivison blames the 2008 financial collapse not on inept monetary policy driven by a failing fiat currency system but rather on the leftist boogeyman of “deregulation”.
What about the crash of 2008, which was the product of too little regulation, rather than too much?
John needs to watch The Big Short and then read Reckless Endangerment by Gretchen Mortenson.
“Come invest in Canada,” she said on Thursday, touting the billions of dollars in subsidies available.”
There’s your problem.
After his NP article jacking off the WEF a couple weeks back I didn’t think there was much lower on the presstitution bed he could really go. He proved me wrong. His conclusion there on WEF was that it was just a bunch of rich do-gooders trying to settle their differences for the sake of everyone. While In this article he attacks PP for taking advantage of the Turd’s despicable and moronic carbon tax to attack the liberals.
nuff said, stop reading Ivison.
Funny, I didn’t read that into this article at all. Ivison’s last paragraph sets it pretty straight.
As someone with a 12th Grade education (from the 80s before it truly rotted), we had to pass an economics course. I wrote this three years ago, with very few edits required. Why does someone with a single high-school course 40 years ago still know about the M1 money supply and what happens when it increases:
https://tradingeconomics.com/canada/money-supply-m1
1) there is no threat of inflation due to the government borrowing then “spending” a trillion dollars
2) there is no inflation, like we said
3) there is some inflation, but not everywhere, and its not bad, so point 1 stands, please ignore point 2
4) there is some inflation in some minor areas such as fuel, housing and food, but its manageable
5) its only for a short time, just like two weeks to flatten the COVID curve, remember then?
6) inflation is actually good, Colbert says so, and who would know better than a celebrity millionaire?
7) the government has a plan for inflation if it ever really becomes a for real problem for real people
8) you’ll love wage and price controls…
9) its corporate greed that somehow didn’t exist two years ago, just started overnight
10) no, increasing taxes isn’t inflationary either
11) did we mention the inflation that isn’t happening, but would be great, is Putin’s fault?
12) overturning Roe will damage the economy
13) CTRL/H inflation/stagflation
14) CTRL/H stagflation/recession
15) CTRL/H recession/New Great Depression
Note: blame the Republicans is taken for granted for being 1a), etc.
Oh, and this is always a good reminder:
https://www.businesspundit.com/sub-prime/
Regulations, to be effective, have to be enforced. Fairly and consistently.
I have no faith in the fair enforcement of regulations when i see the biased enforcement of criminal laws and the blatant two levels of justice happening here in America. I have no doubt politically favored corporations and industries are getting favorable treatment in exchange for their political support.
In Canada? Compare and contrast the treatment of Rebel News and the CBC.
Using Regulatory Power is just another way of corrupt government can corrupt businesses.
Ivison should read more than just Adam Smith, since there have been a number of later economists that expanding on his work, and corrected his assumptions that later turned out to be inaccurate.
“The sweet spot is somewhere between Milei and Freeland.”
One would hope that Ivison means closer to Milei who wants limited government, and is eliminating whole government departments, rather than close to the Fascist Freeland.
Ivison, the Liberal’s secret double agent…..what should one expect from an imported Scottish media socialist?
2008 fiscal BS, was intentionally created, just to install the illegal gay black communist, who they could easily control, bc he didn’t qualify, he was/is gay, and is an actual communist.
2008 primary was rigged.
Ivison still believes the media narrative of the Truckers Freedom protest that was conjured up in Ottawa at that moment. Back when I listened to cjme, Gormley would have him on every few weeks. He never seemed to believe any of the corrections about the Truckers or/and didn’t seem to accept any new proven facts, that cleared Truckers from the false accusations.
I don’t doubt, he still believes the Truckers placed that incendiary, in that appt building doorway, (or was it elevator).
I also don’t doubt he still believes the Truckers are dirty, nasty, bigots, and nazeees.
I believe the primary cause of the 2008 crash was the feds’ insistence on making banks write mortgages for people who were obviously incapable of paying them, and on allowing those mortgages to be bundled into mortgage-backed securities as if they were not subprime trash. Seems like that’s too much regulation, rather than too little.