Tuesday, December 16, 2008

Dion & Layton - The Destruction of Canada’s Economy at the Hands of Opportunists

Markets do not love uncertainty. They do not gravitate toward it. In fact, they abhor it. At the beginning of this decade, the Western world watched on in horror as Argentina collapsed under a series what seemed to be Governments of the Week. When stability returned, so did much of the Argentine economy, though of course the previous instability still took its toll. Now, as we head toward the close of this decade, Canada's economy may well become undone, not because of underlying economic factors (as was partially the case with Argentina), but because of a climate of political instability brought about by a small group of power hungry individuals who in the past week have shown just how little they care for the welfare of the nation.

Canada’s economy is diverse and heavily bolstered by natural resources that are true staples of economic activity. Canada, as a nation, has the potential to be resilient even in times of worldwide economic crises. Diverse regions of the country are, in turn, an energy powerhouse, a prime resource of pulp and paper, a plentiful bastion of vital food supplies and a warehouse of precious metals. If political stability continues, Canada can be a rare light during what may be dark financial years for the West. That’s if other countries have faith in the stability of the government that they are trading and negotiating with.

The Liberals, NDP and the Bloc originally spoke of establishing their proposed junta for a minimum of two and a half years. The Bloc then decided to sign on for only 18 months. If history is to provide any true indicators, as history so invariably does, of such a coalition’s longevity, six months should be considered an optimistic stretch. After all, it won’t take much for the Liberals to resort to the arrogant tactics that so alienated the NDP from them in the past, Jack Layton is hardly a bedrock of stability and the Bloc may last mere weeks, if not days, with Dion before it decides that his Maytime replacement can’t come soon enough.

At the height of absurdity is he Liberals’ claim that the Conservatives ignored the demands of the economy. How? By asking all federal parties to forego taxpayer subsidies, a move that would have hurt their own party the most?! And in case anyone has any doubt as to the nature of this blatantly Machiavellian grab at power, the Conservatives were willing to meet all of the Liberal economic demands to avoid what will no doubt be the ensuing economic chaos. The answer they received: “Sorry, no thanks, we’re power hungry!”

Political turmoil doesn’t bolster the value of a nation's currency, it ruins it, causing mass inflation at home. Political turmoil isn’t conducive to the negotiation of needed treaties, it precludes them from coming about. Political turmoil doesn’t strengthen Canada’s voice in international affairs, it all but renders it impotent on the world stage. And as is always the case during an economic meltdown, the damage will be most felt by the middle class. Canadians must ask themselves: Is all this worth going through just to give Dion his coveted title of Prime Minister and Liberals their coveted “entitlement” to power?

Stephane Dion has been openly musing about bringing down the government since Oct. 14th and Jack Layton spent part of this summer attending dirty trick seminars hosted by Howard Dean, a fact that we were recently reminded of in a piece by Judi McLeod. Their plans are not in Canada’s interest and Canadians should not be forced to pay the price.

Today, Judi McLeod and Arthur Weinreb wrote a Canada Free Press op-ed on why the Tories must call an election. They make a compelling case. It is also vital to Canada’s economic interest that this suggestion be acted upon.

Please Write to The Governor General and your MP

(Canada Free Press, Dec. 2)

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