December 14, 2008 / 03:12
Another poll, also published in the Star - http://www.thestar.com/news/canada/article/553317
This one shows the Liberals trailing by only six points, with both the Conservatives and NDP losing ground. I think these numbers are going to fluctuate quite a bit over the next few weeks as we all learn more about Ignatieff, and see how well Harper works with others.
The Star also put up a PDF of the poll: http://multimedia.thestar.com/acrobat/45/1a/1bd5618d44248283b51e367191d2.pdf
There are some numbers there that I find fascinating. They asked the respondents nine questions regarding the traits of the current party leaders. I don't think you can take Ignatieff's numbers too seriously because he's so new to the leadership role. But everyone's favourite whipping boy, Jack Layton, scores better than Harper in six of the nine traits. Considering how much Layton's been slammed these past couple of weeks these results are pretty stunning, but I think it's a great sign people are starting to catch on to Harper's divisiveness.
But again, this too is just a poll.
December 14, 2008 / 03:40
Here's the full results of the poll: http://www.angus-reid.com/uppdf/2008.12.13_FederalScene.pdf
December 14, 2008 / 12:16
Come January the Cap E tan and his first mate will be steering the SS Titanic, other wise known as Canada knowingly through uncharted waters as they have in the past. Hold your nose.
http://www.theglobeandmail.com/servlet/story/LAC.20081213.MORTGAGE13/TPStory/National
December 14, 2008 / 21:30
Sorry Fred, you blocked my post! (or your system did, no matter)Have to back up post with reason. Not everyone's cup of tea though.
At least four times last week I was contacted by a young reporter from the Globe and Mail who told me he was writing a story about the coming of 40-year mortgages to Canada. He had heard I’d been the only MP to object to changes in the regulation of mortgages when they were proposed, then passed, by the Harper government in 2006. Why, he wondered?
It is compelling evidence Jim Flaherty was instrumental in destroying the Canadian residential real estate market, allowing a sudden drop in lending standards to turn a healthy and strong housing market into an unsustainable bubble.
This will not be news to regular readers. Two years ago I went public about the potential chaos that would ensue from allowing borrowers to extend repayment periods from 25 years to 40 years, and also sanctioning zero-down real estate transactions. After all, it was very clear that allowing people who had no money to buy houses would end badly. In addition, 40-year amortizations did nothing but drop monthly payments and let people borrow more on the same income. That fuelled higher real estate prices, and quickened the death spiral of debt.
One year ago, in December 2007, I sat and wrote the book, “Greater Fool” which spelled out in detail my problem with these Canadian subprime mortgages, and predicted the outcome – a US-style real estate contagion which would sweep Canada. Unfortunately, I was right. It is now infecting every city. It will grow more virulent as the economy weakens and unemployment spreads. By the time the real estate market bottom in perhaps a year, maybe longer, values will have dropped by up to a third more.
As you can tell from the Globe story, the advent of Canadian subprimes started almost immediately with the election of Stephen Harper. Conservative lobbyists representing US financial companies found fertile ground with an inexperienced, naive and uncaring finance minister. In Flaherty’s first budget, the way was paved for a relaxation of lending standards which would contain the seeds of disaster. At the time I raised the reality of the rapidly-devolving US housing market and the apparent destruction of the American middle class as a result.
And while I was correct to do so, I did not foresee the massive implications which would ensue for Wall Street, the entire global financial system or the industrial base of North America. Today we stand within the valley of a massive downturn, and perhaps on the edge of a deflationary spiral which will make recession seem quaint.
The immediate disease was greed leading to debt. But the defense against excessive debt should have been government vigilance. In Canada, as in the US, the elected failed us.
As the Globe story also points out, I was among the elected. And while I raised concerns about the mortgage changes, and caused the House of Commons finance committee to hold a hearing into them, at the end of the day I (and every other MP) allowed them to pass.
But in this we have a concrete example of how our system fails us.
In May of 2006 I was already in deep shit with Stephen Harper, having objected to his hypocritical appointment of David Emerson and his weak environmental stance. I had also defied him by continuing to write this blog. When, as a Harper MP and finance committee member, I objected to the mortgage changes, I thought it would be the last straw, and lead to my being thrown out (that was not to happen for five more months).
And while I caused the hearing to take place, and continued to raise concerns about the lending letdown, I did not vote against the budget provision. Apart from being warned of the consequences of holding out by two senior government members, I knew a negative vote would finish my time in caucus, remove me from the committee and still not prevent the budget from passing. So I acquiesced and decided to continue to lobby against the new mortgages through my online writing, the media, speaking out and in a book.
The blame is mine for not having done more. But so long as political parties tell MPs what to do, say, think and how to vote, the outcome will be the same.
This underscores the need for independent members of Parliament who are able to support their colleagues, but also have the right and duty to speak out on behalf of their constituents and the greater good of Canada at all times.
When will we have a leader who understands this?
I posted this WITHOUT PERMISSION!
December 15, 2008 / 10:48
Well, at least the weasels didn't run and hide this time.
December 16, 2008 / 22:37
I don't ever hide mE dear, system goes down and I can't just wish....to connect...
August 2, 2010 / 14:50
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August 3, 2010 / 18:17
Lenen Zonder BKR Toetsing Lenen zonder BKR toetsing stijgt in populariteit op het Internet. Veel mensen met een zogeheten BKR notatie, die toch geld willen lenen zijn op zoek naar ...
August 29, 2010 / 18:21
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September 15, 2010 / 14:56
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September 21, 2010 / 14:45
It's hard to believe how much interest one pays during the first
October 1, 2010 / 04:02
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November 1, 2010 / 20:17
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November 2, 2010 / 19:48
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November 4, 2010 / 07:07
Centro in August reported a narrower fiscal full-year loss after writedowns on its properties shrank. The shortfall was A$652.7 million in the 12 months ended June 30, compared with a loss of A$3.5 billion a year earlier. Centro wrote down A$487.9 million on its properties, down from A$2.7 billion a year earlier
November 25, 2010 / 23:06
I really enjoyed the article. It's nice when you read something that is not only informative but entertaining. Excellent!
I'm sure it was with great reluctance and pain that the Toronto Star had to print today's headline - Strong Tory Majority - Poll.
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