Yes, the fundamentals of the economy are sound (in Canada)

We’re still having an election in Canada, though you would never know it from reading this Canadian’s blog! The vote is on Tuesday.

(Note to American readers:  Canadian election campaigns, from beginning to end, last 35 days. That doesn’t include the selection of party leaders, who are chosen between elections, usually years in advance of an election campaign. Even if we included the selection of leaders, the whole process would take only a little more than two months.)

Prime Minister Stephen Harper seems to have done real damage to his prospects of a majority government by echoing John McCain:

Remember, Canada is not the United States. The fundamentals of the Canadian economy are sound.

At the time, the Conservatives were polling at about 38%-39%. Now they’ve dropped to 31%-32%.

(Note #2 to American readers:  the vote is being divided between five parties. As a result, a party that gets 32% of the vote almost certainly will form the government. Which is Not Good for Democracy, but that’s a post for another day.)

I’m not a big fan of the Conservatives, but facts are facts. It seems to be true that the fundamentals of the Canadian economy are sound.

Andrew Coyne has written a series of posts in which he points out:

Maybe Prime Minister Harper was right:  Canada is not the USA; the fundamentals of the Canadian economy are sound.

The opposition parties beg to differ, naturally! And Canadians are understandably anxious:  they want the Prime Minister to appear to Do Something.

Sometimes stating the facts makes for very poor politics.


2 Comments (+add yours?)

  1. Ilona
    Oct 11, 2008 @ 09:54:42

    Woo! Go, us!


  2. Bill
    Oct 14, 2008 @ 10:55:24

    The problem has little to do with the soundness of our banking system that has developed over many years of LIBERAL leadership, it has more to do with the fact that most in the financial industry believe that even the soundness of our system may not be enough to stave off disaster. The other parties want one more log placed against the door or at least a pile of logs at the ready. Harper is being naive in thinking that he can sit on his laurels and do nothing and the whole thing will go away.

    It seems that both parties are hanging to a consistent approach, as they have on Global warming. (see attached link, but change the title to the economic Crisis)


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