10.16.2013 08:34 AM

My optimistic view on today’s Speech from the Throne

I don’t have one.  In fact, I don’t give a rat’s ass, and I plan to say so on Sun News in an hour or so.

The so-called “consumer focus” that everyone’s buzzing about, North of the Queensway, could not possibly be more irrelevant, as we are now hours away from the first-ever default by the United States of America.

The U.S. Treasury Department says a default would be catastrophic, and it would be – there and here.  Credit markets will freeze, interest rates will soar, (sluggish) economic growth will fully stop, and our close trading relationship with the U.S. will ensure we are thrown back into recession. A worse one than the last one.

Remember Lehmann Brothers in 2008? That single firm’s default commenced a downward spiral that led to a global recession.  So if the U.S. government defaults, the consequences will be a lot worse, wouldn’t you say?

Today’s Throne Speech is fiddling while Rome burns. It’s a joke.

Train your eyes South of the border. Washington’s the only capital that matters, today.

23 Comments

  1. Bill From Willowdale says:

    U.S. mutual funds are forbidden from holding securities in default. All U.S. bond holdings would have to be liquidated in mass.

  2. james curran says:

    Ya, but, our cell phone bills will be cheaper W. Er……..most likely NOT. Nevermind.

  3. Steve Simpson says:

    It’s Obamacare or bust for the US economy and government. Now let’s watch as Obama throws his ghetto constituents under the bus to save his presidential neck and legacy.

  4. Paul says:

    Warren – I agree whole heartedly with the US situation – nothing is more important than the standoff there…. And yes they may overcome current issue but there has got to be a day of reckoning at some point in the future.. the US cannot continue to print money to pay debts … there will not be a safe place for your money…I say we go into a depression ..it will not be pretty…

    • Steve Simpson says:

      A global economic crisis and subsequent depression would be good for the left-leaning political parties because that is where the electorate will cast their vote to save their sorry mortgaged arses.

      So who has a better chance in Canada; Liberal Trudeau or NDP Mulcair? I’m betting Canadians would go full monty for the crypto-socialist dippers and throw Harper and Trudeau under the bus. Or maybe a minority NDP government supported by a Liberal rump.

  5. Paul says:

    oops …I agree whole heartedly with you on the US……

  6. PeggyW says:

    I don’t know, unbundling cable and capping roaming fees…. that’s pretty visionary stuff; it’d have to overshadow the U.S. debt ceiling crisis!

  7. Elizabeth says:

    Not watching it either, could not care less. Grandstanding and fuss over reporters not getting into caucus meeting is just like – is this what Canada has become? An ego trip for a controlling fathead? I’ll read the SUN and other things.

  8. doris says:

    “I don’t know, unbundling cable and capping roaming fees” The best thing that could ever happen to the opposition. The greedy bastards at the cable companies and telcos will unbundle for sure but the price per channel will be more than the previous bundles, thus the ensuing clamour from confused and ripped off consumers will envelope the Harpercryts in disdain and umbrage – looks good on them.

    • PeggyW says:

      It’s true, these corporations always get their pound of flesh out of the consumer one way or another, but the Harper government has done a lot of dumb shit with negative ramifications that hasn’t stuck to them in the eyes of the general electorate: eventually there has to be a cumulative effect/tipping point (I hope…)

  9. Brad Young says:

    Good paying IT jobs are flying out of this country by the 1000’s. Companies are not required to report it, they are just layoffs. Nobody really knows the extent of the problem. One day every job that can be done remotely will be and Harper is concentrating on TV channel bundling.

    He disgusts me.

  10. Ronald O'Dowd says:

    Warren,

    Let me get this straight — they have been the government for seven years. They have studied the country and found out what makes Canada tick. And THIS is Harper’s Grand Canadian Vision? Pierre Burton had The National Dream. Harper exhales a National Yawn…I draw great comfort in Harper’s complete inability to set national priorities of any great significance. Obviously, someone dozed off in nation-building class.

  11. Adam says:

    My prediction concerning the so-called balanced budget law is that it will be precisely as effective as the fixed election law. From the sound of it, they have already planned enough wiggle-room in it that it could be ignored even before it is repealed.

  12. ottawacon says:

    Thursday morning, the US is done their kabuki theatre nonsense. The Throne speech priorities remind me of the GST reduction, bad policy and good retail politics. I can’t help but think most of the dismissals of it are from people with a very slim chance of being Conservative voters. Lower consumer prices versus legalization of marijuana is going to break only one way in the 905.

    • JH says:

      Watched the commentary from the opposition leaders afterwards and both seemed weak. Had a hard time mustering any real passion against the policies as outlined. They better find some things to really object to in Conservative government policies, that they can fight an election on. Don’t think MJ and the Senate will do, especially if Harper promises a referendum on the Senate and he might.

      • Ronald O'Dowd says:

        JH,

        Hum. Senate referendum, now that should be another voter turnout record!

        • JH says:

          If he was smart and there’s no proof he’s lacking in that department, he would make the promise of a referendum an election plank, guaranteeing to hold one 6 months after the federal election.
          Not only would it be an attention grabber, but the results would certainly give any PM quite an edge when dealing with the provincial premiers. It would be worth the cost to be able to show them what their own citizens want. I personally believe even in Quebec they would vote to abolish.

          • Ronald O'Dowd says:

            JH,

            Interesting point but it risks cutting one way or the other — either it promotes the unhelpful view of the tyranny of the majority (a la Quebec Values Charter) and projects further negative impact on the government or it could actually increase the legitimacy of the governmenr, if voters had a high level of confidence in Harper in the election.

            But given the government’s tenure going into 2015, my money would be on the former as a possible political outcome surrounding abolition.

  13. Ronald O'Dowd says:

    Warren,

    As I’ve said elsewhere, Senate reform is easy. It can be done by anyone in a matter of months. But it necessarily requires a quid pro quo — horse trading to get it done. It’s all in the art of the deal and the premiers love making deals.

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