To all the people who laughed at PMSH’s statement that now is perhaps a good time to pick up some bargain stock: you think this is a party leader who is “out of touch” with the electorate and doesn’t know what the electorate wants to hear. I tell you this: these words came from a Prime Minister who holds a Masters’ Degree in Economics. These words did not come from a party leader who wants to be re-elected (although that is naturally what he wants). Mr. Harper is an economist first, politician second. As an economist AND PM you have to avoid panic in the stock market at all cost. In times of economic uncertainty, when stock markets are crashing, the best thing to do is to try to get people to BUY stock, not SELL them. Selling your stock will just increase the rate the stock market will go down. The only way to reverse a massive sell off of stock (ie: the market going down) is to BUY stock (ie. market going up). This is BASIC ECONOMICS. Shouting doom off the rooftops saying “We’re tanking!” is extremely irresponsible for a Leader of a country (and isn’t that what our Opposition ‘leaders’ strive to be?) It just creates panic resulting in a massive sell-offs of stock which in turn will make them worth even less. If the opposition leaders would set aside their desire to be elected for a minute, and take into account the well being of all Canadians, they’d have to conclude the same thing: saving this economy is more important that any one individual’s election. Harper is doing what it takes to save this economy, even if it means lower polling numbers. He says it would be irresponsible of him to create a panic even though that is what the electorate wants to hear and would improve his standings.
The fundamentals of the Canadian economy are very strong. They only thing going wrong with our economy currently is that the stock markets are going south (no pun intended). The Canadian People want to hear Harper say what he is going to do about it. Well, the only way to stop a stock market from going down is to MAKE PEOPLE BUY STOCK. Isn’t that what he is saying? If any of the opposition ‘leaders’ had any formal training in economics, and not a week long crash course on it, they would know that. I think they do know that, however, they’ve put their own selfish election chances over the fortunes of the Canadian People. They shout doom and gloom, creating a panic resulting in economic woes, in order to get their own behind into the PM’s chair. PM Harper has done the exact opposite!
If the opposition ‘leaders’ were serious leadership material, they’d realise the PM’s first and foremost responsibility is the stabilizing of the economy.
And that, ladies and gentlemen, is what Harper has been doing for the past year and a half. That is why we don’t have bail-outs for banks and big investment firms. That is why our inflation is still below 4%. That is why we have a job gain of 87,000 jobs in 2008 so far. That is why the IMF projected Canada to lead the G7 in economic growth next year. And that, is why we have to continue with his successful strategy.