For all the leftists, socialists, "moderates" and neo-con fascists: no need to worry about the Global Depression. Simple Minded Opportunist/Finance Minister Jim Flaherty and Goldman Sachs Terrorist/Bank of Canada Governor Mark Carney said they'd devalue the money to "save" the economy. No need to get all crazy over debt crisis', Jimmy and Carney are IMF hacks. When the time comes, both men will pull down Canada's pants and let the IMF fuck the shit out of our assholes.
Just ask the Greeks.
The Toronto Star:
Canada’s participants in the IMF-World Bank meetings — Finance Minister Jim Flaherty and Bank of Canada governor Mark Carney — repeated assurances that Canada is in position to react if the situation deteriorates.
Carney told CBC radio Saturday that Canada ... [has] a sound fiscal position that would allow Ottawa to mount a new rescue package of the economy.
“We have every tool we had in the 2008 (recession),” he said.
If things turn sour, Flaherty suggested he is not adverse to reversing course on the spending restraint program he embarked on in the 2011 budget.
“If the global situation deteriorates, we’ll be pragmatic and we have the flexibility to adapt,” Flaherty said, suggesting a second stimulus package could be in the offing.
The recession is a result of previous stimulus to the economy. Once we begin to understand that, then we can understand what happened (or is happening) to the Canadian economy.