Home Forums Hunting & Shooting Hunter's Campfire MSM really hates Joe the Plumber

Even Europe is getting in on the act!

Not quite.

Look in the "Canada" section. Read about our banks. They are rated as the safest banks on the planet. Even during the great depression - Canada's banks remained solvent.

Why?

"Leftist" "big-government" rules and regulations. Lot's of 'em.

How are the free-enterprise, minimially regulated banks doing in the USA right now?

Time for more government involvement perhaps?

"Liberal" and "Progresive" economic theory seems to be doing damn well in Canada - it is not our economy that is "consistantly and catastrophically failed", or is failing - now - or ever - in our history.

So much for the idea progressive or liberal thinking has hurt our economy.

How has "liberalism" hurt our economy - compared to America's?

Who actually knows what your voting population theories are? You just had your most empathetic and lame, voting turn out in your history!

Fairly shameful!

Joe the Plumber asks Obama a real authentic human question, and his life gets splattered all over the media. Sick and wrong. His life is an American life and he is a real live American person.
Media scum and Obammy campaigning slandering scum, are 2 entities that deserve some real karma moments.

Isaac,

Look at it this way. Without trolls, life would be boring. Nothing to get your passions up.

I hope the attack on Joe continues.

Great for McCains numbers.

The MSM has trouble camping out at Ayers home or Wright's new mansion but no trouble at all setting up shop at Joe's home. Let them have at it....the MSM is dead after this election!

Could you address the question - how has Canada's "big-government" rules and regulations hurt our economy - particularly our banking system?

Sometimes more government involvement can prove to be a good thing.

It sure doesn't appear to have hurt our banking system - or our economy.

So much for the statement it has "consistently and catastrophically" failed everywhere. Check out Scandinavia too - while you are at it.

It sure doesn't appear to have hurt our banking system - or our economy.
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Just it's taxpayers.

Actually - Canada - and Canadians - right now - are doing pretty damn good.

Compared to some places...

OH....OK


Future of Canada's economy comes into question as TSX ends week of panic
Oct 3, 2008

TORONTO � Questions about the future of the North American economy and mixed emotions by investors following the passage of a U.S. bailout package for Wall Street banks dragged the Canadian stock market to its biggest weekly loss in years.

The Toronto Stock Exchange tumbled 11 per cent over the trading week - a loss of more than $150 billion in value - a shocking drop that reflected economic worries about how deep the U.S. recession will bite in Canada, Europe and elsewhere.

A dismal report from the U.S. Labour Department only seemed to add to fears, reporting that American employers slashed payrolls by 159,000 in September, the highest in more than five years and well above expectations.

"It's not just about the consumer, it's now more broadly based in terms of weakness in the U.S. economy. That has significant implications for Canada," said Patricia Croft, chief economist and vice-president of Canadian money manager Phillips, Hager and North.

"We are seeing some signs of fraying around the edges for the Canadian economy."

The Toronto market, which was swamped by huge daily losses followed by moderate bouncebacks all week, continued to be volatile Friday as investors kept a wary eye on the situation south of the border.

The TSX recovered about 400 points lost until shortly before the U.S. House of Representatives voted again on a bailout package for the American financial industry. Then it began a gradual descent into negative territory and ended the day with a 97-point loss.

On Wall Street, the Dow Jones average was up about 290 points until shortly after the bill passed, when the early gains all but vanished. The Dow closed the session down about 157 points.

"It's not like we're going to turn a switch on, come to work Monday morning and the financial system is going to be all well and healthy once again," said Croft.

"It's going to take some time to go through this process, and in the interim there could be some more mergers or bank failures in the U.S. and Europe."

Chyanne Fyckes, chief investment manager with Stone Asset Management in Toronto, called the earlier TSX rally a "dead cat bounce" - a short-lived uptick that follows a major drop.

"There's lots of cash on the sidelines, everyone knows that," said Fyckes. "You're going to get these rallies in here, but I still think you're going to see further downside."

On Monday, the Canadian market had its biggest point drop ever - 841 points. The next day, the S&P/TSX composite recovered about half that loss. Thursday's 814-point drop was triggered by a major Wall Street firm's warning that commodity stocks are overpriced.

The recent economic turmoil has reinforced worries that Canada's resources-based economy will suffer from a worldwide drop in demand for oil, metals, fertilizer and grains. Worries also persist that the global financial crisis is squeezing the availability of credit in Canada.

"I don't see what's going to make the Canadian economy very strong in the short term," said Ian Nakamoto, director of research at MacDougall, MacDougall and MacTier Inc.

"It used to be the commodity story, but you can see what's happening to our commodity prices. Though the Canadian dollar has fallen a little bit, it's not enough to get the manufacturing sector revving up."

In trading Friday, oil prices lost nine cents to US$93.88 a barrel on commodities markets. The Canadian dollar fell marginally to $92.46, its lowest closing level in more than two years.

Next week, investors will be awaiting the latest Canadian employment which analyst expectations generally expect will show flat job growth.

In a move to loosen up Canadian credit markets, the Bank of Canada said Friday it is pumping another $12 billion or more into money markets to ensure Canadians have access to loans.

The central bank move expands total credit to $20 billion available to the markets by Nov. 6.

The economy has become the main issue in the campaign for the Oct. 14 Canadian federal election, with all the opposition parties attacking the federal Conservatives for what they say is a do-nothing approach to slowing economic growth.

Prime Minister Stephen Harper and Finance Minister Jim Flaherty continue to insist the economy is fundamentally sound and the financial crisis and housing slump that have battered the U.S. and spilled over into Europe isn't nearly so severe in Canada.

"The Canadian economy has continued to create jobs - it's slower than it was, but it continues to grow," Harper said during campaign event Friday in Saint John, N.B.

"In Canada, we had a fairly stable mortgage sector and obviously our banks are in a stable situation."

In London, Ont., Flaherty said the "tragic" consequences of Americans losing their homes in the U.S. housing market meltdown won't befall Canadian homeowners.

Speaking to students at the University of Western Ontario, the finance minister said Canadians can afford the mortgages they have and he added that the domestic housing market is stable.

"There are some very significant changes between our two economies and that makes day-to-day life in Canada rather different, where people in Canada don't have to worry about losing their homes, whereas many Americans are right now," Flaherty said.

"Our fiscal fundamentals are solid, our banks are well-capitalized, our insurance companies are well-capitalized. Households are well capitalized."

Despite criticism at the televised English-language election debate Thursday night that the Conservatives aren't doing enough to avert a financial crisis at home, Flaherty said there's no need for sudden changes and that stability and steadiness will take Canada through the financial crisis.

Both Harper and Flaherty have said that while growth is slowing, the government's corporate and personal tax cuts announced last fall have helped companies and consumers deal with economic uncertainty.

The worsening U.S. economy has also spilled over into Europe, where France has called an exceptional weekend summit to come up with a common European response to the spreading U.S. financial crisis.

On Friday, Jean-Claude Trichet, head of the European Central Bank, called for European unity in responding to the global financial crisis.

Trichet warned that European "growth is weak and there are risks of it being even more so."

He said this "exceptional period" of financial turbulence requires Europe to be "as united as possible."

Canada's liberalism has made dunces and morons out of its people. You Brian, are exhibit #1.

Just imagine how much more prosperous you'd be if your government didnt have their sticky fingers into every possible facet of everyone lives, or their business.

Maybe your happy with gobbermint all over you, that's cool if you are. But there is a reason for the saying "it's never worked anywhere it's been tried" (socialism and the like) becuase it's rooted in truth.

Much like all other leftist ideas, it goes against human nature.

Lets start with the registry, which is straight out of lefist liberal handbook 101. Who'd that help? WHO DID IT HURT?

Bazzilion dollar$ blown, for absolutley [bleep] nothing.

It is truly embarrassing how slanted things have become and they have likely lost all remaining credibility. I think a 4yr old could spot the bias these days.

Holy Christ y'all were piling on while I was typing

Brian, there's a good reason why leftist liberals often get labeled commies or Hitler like. Truthfull similarities.

They TRUELY believe moreso in government, than in the free human spirit of the people.

Class dismissed.

Thanks to the ignore button, I can read GPA and BCBrian if I want to. Less stress is always a good deal.

Canada is a nice place to visit, been there once, but the socialist structure of the country is not conducive to my happiness.

Too bad we didn't take over the entire continent of North America during our Manifest Destiny phase in the 1800's. We wouldn't have an immigration problem on our southern border plus a ton of great pike & muskie lakes in the north. So, what else does Canada have to offer besides some great hunting and fishing locations?

Brian, tell me again why you get so irritable when I refer to you as a socialist.

I never said that socialism hasn't had individual successes. The Soviet Union won WWII (single-handedly if you believed their account), and western socialist democracies have maintained generally high standards of living. The Canadian and Euro style socialism have had the advantage of outsourcing their collective and individual national defenses to...guess who? The Sovs probably wouldn't have muddled through their 74 consecutive droughts without massive shipments of US wheat.

To the extent that socialism succeeds at all, it does so by being subsidized by private capital. Entrepreneurs tend to prefer the rough and tumble of free markets and laissez fair capitalism. Once they've made their $billions--see Arthur Blank, Warren Buffett, Barry Diller, Michael Eisner, David Geffen, Charles Gifford, Jeffrey Katzenberg, Norman Lear, Penny Pritzker, Goerge Soros, Steven Spielberg, Steve Tisch, and Oprah Winfrey.....others, like the apolitical Bill Gates, don't generally support individual candidates, but do favor nanny-state gov't programs like nationalized healthcare--they tend to favor socialism or socialism-lite as practiced in the West. Western style socialism may limit the growth of their personal fortunes, but it also protects them from foreign and domestic competition. To someone who already has more money that he could spend in several lifetimes, this is a very attractive trade off.

If capitalism collapses in the US (ironically, as a result of gov't meddling in markets) you Canadian socialists won't be feeling smug for long. It will become painfully obvious how having the world's largest market in your backyard has impacted your standard of living. Be careful what you wish for--and yes, I'm pretty sure I know what you are wishing for.

Some great people. There are many on this site.

+1 Ricky D


good post wuzza as well

Now the MSM is really going after Joe, saying he's not really a plumber, he's a Rove plant, he's a mythical being, ad nauseum.
What crap!

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McCain - Palin Our only hope

The question was - about our BANKS.

They have huge amounts of rules and regulations - and are rated the WORLD'S safest.

Why is that? If government intervention in the economy is bad - we should be in bad shape - instead, our banks are rated #1.

Check the Canada thread for the facts.