Friday, June 11, 2010

C'mon, everyone else is doing it!

Canada is in full finger wagging mode on the "issue" of government debt. If one read today's Globe online, they would find themselves confronted with a column about how France is "afraid" to make massive public sector cuts, presumably because they did so badly in World War II or some other reason, while all these other countries have jumping off the cliff because some investors may, at some point think that all this debt it a problem, you know, the debt that's in part there because of governments giving money to a bunch of banks who are now concerned about government debt...

And then there's this. I'm not really sure how this guy gets away with this - if countries don't cut spending on whatever it is they spend their money on (read poor people) then the markets will react angrily. This lecturing comes from a man who reminds us that Thomas Jefferson was a Republican.

With this kind of historical sense, who could possibly bet against him? Note to the rest of the world - Canada got lucky, please stop listening to us now on this issue, although feel free to continue to listen to us about gay marriage and other things.

No comments: