The “Nonpartisan” Bank of Canada

18 Replies to “The “Nonpartisan” Bank of Canada”

1. It has nothing to do with planning. It has everything with the Liberals trying to buy off the electorate, to still the growing anger being projected by the population. We have been and are being hosed by the federal government and it must be stopped. Everyday brings new revelations of tawdry behavior loosely covered by obscured data and lies. Every single day.

   1. And Richard “Tiffany” Macklem is aiding and abetting the tawdry sleaze.

      1. Remember it was Poloz who aided and abetted Trudeau in 2020 taking the Bank of Canada balance sheet from $120 billion in 2019 to $550 billion by the end of 2020. That is one hell of a printing press! He then quit and Macklem has presided over the BoC over unwinding the shit show. BoC at Mar 31, 2024 had $7 billion more liabilities than assets and this will get worse as the position continues to unwind.

2. They don’t actually have an economic plan.

   Their plan is to line suitable pockets.

   Everything is going according to plan.

3. “Canada is the first G7 country where interest rates have been lowered. Our economic plan is working and that is really welcome news for Canada.”

   Heh. It’s because we have a weaker economy. Holy crap! Maybe their economic plan is working.

   1. And our productivity is heading down fast

4. Canada is in recession, no growth in 3 quarters and their “plan is working”. Yeah right.

   1. Recession is only half the problem. The other half is an out-of-control inflation rate. Curbing inflation requires higher interest rates. So whatever the government or BoC did, Canadians were screwed. Justatwit and Jughead cannot and will not slow down the rate of government spending and growth in deficits. The result of all this is the value of the Canadian dollar circling the bowl.

      Art is entirely right that productivity is disintegrating. Hence, investment is tanking and capital is fleeing Canada. Canada has been a net loser of $225 billion in capital since 2016. So yes, Justatwit and Jughead have been bad for business in every way possible for the past decade.

5. 0.25% isn’t going to save anyone

   1. No indeed, it’s only a desperate hope by Justatwit that it will cut into PP’s overwhelming lead in public support. This is window dressing to try to improve things for the next election in 2025. Without some recovery in his political fortunes, Justatwit is likely to be responsible for a political collapse even worse than Kim Campbell’s in 1993.

      1. Did you mean ‘Kim Who” ?

6. Here in America … Poopy Joe Biden released the rest of our strategic oil reserve in order to drop gasoline prices in CA from $5.65/gal. to $5.15/gal.

   Yes. These moves should be illegal. As election interference. But alas … the FBI fights election interference by spying on Trump and claiming the Hunter laptop is Russian disinformation.

   We’re all doomed by the entrenched leftist bureaucracy

7. It is a dumbest thing that Baked Potato could do. Lower interest rates will only put pressure on housing prices and give Potato’s critics more ammunition.

8. .25% decrease …… wow, kind of sounds like the band playing a tune while the Titanic was sinking.

   Wake the hell up GTA!

   1. I always get excited when the bank gives me a quarter of point cut in my modest investment income.

      1. A point that a depressingly large percentage of our electorate just never seems able to contemplate.

9. What would be really cool…is that at the end of every single politician’s time in office (especially long-serving ones)–the people of Canada get to vote whether or not that person is actually allowed to receive the pension and benefits of a retiring MP. The problem today is that politicians can destroy our country economically–and we’re stuck paying him/her retirement benefits until the day they die. Or, we can vote to euthanize them–I’d prefer to do that.

10. https://youtu.be/WTIP3IhG3Xo?si=5OcWV7JG9Rm-2X2J

    You’re welcome.