Saturday 14 May 2022

BOC: Campbell Wrong, Poilièvre Right.

Kim Campbell doesn't seem to think too highly of the CPC. Admittedly, she has a lot of company, which is important for our party to remember. Sure, we're not doing enough on climate change and feminist advancement but we sure aren't codding authoritarianism. So, Campbell is definitely wrong on that.

As for the BOC and its legislated independence, well, they don't do squat unless it dovetails with what the so-called political masters want politically. Plus the lazy politicians tend to inevitably buy into the central  bank  foolishness  and  incompetence:  read  the  Keynesian  policies  of  easy  money  and          I-N-E-V-I-T-A-B-L-E inflation creation. Sure, COVID-19 and Ukraine are factors but only that. The main cause by far is the digitization of money. Look south of the border where The Federal Reserve has recently created 45% of the money supply. Insane idiocy.

What we need is continual rises in rates to at least past the unofficial inflation rate which is somewhere between 15 and 25% both in Canada and the United States. That's what Volcker did and it worked leading to a huge economic expansion and multi-decade boom.

So, on this issue, I'm almost 100% with Poilièvre. My proviso is that the Governor be allowed to admit publicly that the BOC was wrong to permit easy money to this extent and also indicate that further tightening by same will continue. That's Macklem's fig leaf out. Otherwise, he goes and Poilièvre would find us a new gov.

In short, it has absolutely nothing to do with someone growing up. What it has to do with is the verbal diarrhea coming out of Biden's mouth on this. For Christ's sake, he re-nominated this serial incompetent as Chair. Biden did that, and Trump did it before him. Fucking Powell, what a jackass. But I digress.

Macklem needs to be put on notice that things will be greatly different if the CPC ultimately forms government and I for one see absolutely nothing wrong with that. In fact, I commend Pierre for taking this on.

FULL DISCLOSURE: I support Charest's leadership bid.

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