Liberal (Minority/Majority) Government 2025 - ???

[Altair]

And that's equally (or more) moronic.

I wish people here would separate the internet as a whole versus what is said here.

People here aren't blaming harper for anything, or dragging harpers kids into conversations, yet because some idiot on facebook or twitter does it people feel like they are justified doing likewise here.

I think the stated goal of this section of milnet is to be better than those cesspools

 

[brihard]

Central bank governors in the British or Canadian models have very few tools in their toolbox. By and large their entire existence revolves around periodic adjustments to the ‘overnight rate’ of interest charged by the central bank on loans to commercial banks to float liquidity. This is the benchmark interest rate for the country’s financial system.

This interest rate is basically a throttle on inflation. When inflation is low - which usually means the economy is lagging - a decrease in interest rates spurs access to credit, and spending increases, heating up the economy but also increasing inflation. Conversely if the economy is running too hot and inflation is deemed too high, increasing interest rates tightens borrowing and slows everything down a bit.

That’s most of it right there. The central banks can increase or decrease interest rates to stimulate or sedate the economy and the keep inflation within a desired range. They cannot, however, do anything directly about tons of other economically relevant government policy. A government making poor choices can torpedo the economy no matter what the central bank does to interest rates.

 

[ArmyRick]

Moving on from Brexit and British issues (whether Carney is to partially blame or blame free is a different and separate topic).

We all know I am a biased Conservative (at this time) ands I still support Pierre as leader, lets get that out of the way.

I see nothing encouraging from PM MC for the near future and the last year has been just as discouraging.

I still see big promises and very little returns. Even getting called out by main stream media for lackluster results. The sovereign wealth fund? Its not.

We all know the dog pile of issues going on here, don't need to list them. We have discussed the floor crossing issue and we can all agree its legal but we each have an opinion as to whether its ethical or not.

First thing Liberals do is move to get a majority in committees and then start shutting down committees immediately (or going "in camera" which means the public is not entitled to know what is going on). And the Carney messiah worshippers are ok with this? This is beyond alarming. The Liberals greatest weapon is the political ignorance of the Canadian public.

 

[YZT580]

Please site a country that exited the EU like the UK and has been able to rebuild its trade network successfully?

they didn't get in in the first place. GB was johnny come lately. And yes there were advantages to join but there were lots of negatives as well. But the biggest problem GB has is that the costs for heating and power have gone ballistic as have taxes. Plus a number of the expensive modifications they had to make to conform to the EU standards were never repealed after BREXIT which left them with the worst of both worlds

 

[YZT580]

Genuinely curious what exact policies you think he should have implemented as BoE Governor but failed to do.

First and foremost his encouraging of wind and solar power put England at a huge disadvantage. According to statistics and projections by the end of this decade balancing the network will cost them almost 8 billion pounds, up from 2-7 last year. They are spending 80 billion to improve the distribution system which will reduce the costs back to 2.9 billion in 2031. Carney's influence is all over their current power problems. Now I am not a banker, nor are any of you I suspect, but I do know that if you live on borrowed money eventually the cost of that money will exceed your ability to re-pay it: welcome to Britain, with us following right behind. The feds spent 40 billion less than they expected last year but a paltry 1.2 billion is all they channeled into debt payment. The rest was re-designated to other destinations. Since Carney is now in charge it is safe to assume that this is his attitude towards a nation's economy. As head of Britain's bank he should have identified their expenditures on power as being non-sustainable. That by itself would have kept their factories running.

 

[Altair]

they didn't get in in the first place. GB was johnny come lately. And yes there were advantages to join but there were lots of negatives as well. But the biggest problem GB has is that the costs for heating and power have gone ballistic as have taxes. Plus a number of the expensive modifications they had to make to conform to the EU standards were never repealed after BREXIT which left them with the worst of both worlds

If the plan was worse of both worlds, they should have stuck with the EU

The problem that the UK found out is they are no longer an empire. They couldn't even strike a deal with Canada because we, as canadians, didnt see them as big or wealthy enough to strike concessions with. The UK struck very few trade deals after brexit, and none with who they needed.

The only reason we have trade deal with them is because they joined the CPTPP due to some liberal interpretation of 'Pacific'

How much of this you can pin on a central banker who controls exactly zero of this is questionable.

 

[Altair]

First and foremost his encouraging of wind and solar power put England at a huge disadvantage. According to statistics and projections by the end of this decade balancing the network will cost them almost 8 billion pounds, up from 2-7 last year. They are spending 80 billion to improve the distribution system which will reduce the costs back to 2.9 billion in 2031. Carney's influence is all over their current power problems. Now I am not a banker, nor are any of you I suspect, but I do know that if you live on borrowed money eventually the cost of that money will exceed your ability to re-pay it: welcome to Britain, with us following right behind. The feds spent 40 billion less than they expected last year but a paltry 1.2 billion is all they channeled into debt payment. The rest was re-designated to other destinations. Since Carney is now in charge it is safe to assume that this is his attitude towards a nation's economy. As head of Britain's bank he should have identified their expenditures on power as being non-sustainable. That by itself would have kept their factories running.

Even of that's true, it falls on the government at the time for listening to him.

In terms of what carney did for his actual job, within what he had control over, by all accounts he did fine.

 

[ytz]

First and foremost his encouraging of wind and solar power put England at a huge disadvantage.

Again. Central banks don't determine energy policy. And his advocacy for climate finance was after his time as Governor of BoE. Notably setting up GFANZ at COP 26 in Glasgow in November 2021. Again, a reminder, he departed the Bank of England in March 2020.

Now I am not a banker, nor are any of you I suspect, but I do know that if you live on borrowed money eventually the cost of that money will exceed your ability to re-pay it

I am not a banker. But I did learn the difference between fiscal and monetary policy in OAC Economics three decades ago. Central banks are responsible for monetary policy. Not fiscal policy. Maybe your criticism should be directed at the politicians running the UK at the time.

 

[ytz]

How much of this you can pin on a central banker who controls exactly zero of this is questionable.

The guy was hired by two Conservative governments in two G7 countries to lead both of them during times of crisis. He was the first non-Brit to lead the BoE in centuries. If he's supposedly that bad, what does it say about the politicians who hired him?

 

[QV]

If no past bad economic situation can be laid at MC feet because he wasn't the decider then, and he is just that good, then now that he is PMMC of Canada, we should see some rapid turn-a-arounds in the Canadian situation. I look forward to seeing major improvements to the 13 metrics here:

The 13 charts that prove the lost Liberal decade

Trudeau promised 'sunny ways' but delivered stormy waters. Just how much worse have things got?

nationalpost.com

 

[YZT580]

Again. Central banks don't determine energy policy. And his advocacy for climate finance was after his time as Governor of BoE. Notably setting up GFANZ at COP 26 in Glasgow in November 2021. Again, a reminder, he departed the Bank of England in March 2020.

humbug. By his very position he could have and should have outlined the perils of following the path they were taking. Since you are a lover of all things modern, here is the AI comment: Mark Carney has been advocating for green energy and climate action for over a decade, including during his time as governor of the Bank of England and as a UN special envoy for climate change. As Canada's prime minister, he has continued to emphasize the importance of transitioning to a low-carbon economy.

 

[YZT580]

The guy was hired by two Conservative governments in two G7 countries to lead both of them during times of crisis. He was the first non-Brit to lead the BoE in centuries. If he's supposedly that bad, what does it say about the politicians who hired him?

not very good at picking bankers.

 

[ytz]

humbug. By his very position he could have and should have outlined the perils of following the path they were taking. Since you are a lover of all things modern, here is the AI comment: Mark Carney has been advocating for green energy and climate action for over a decade, including during his time as governor of the Bank of England and as a UN special envoy for climate change. As Canada's prime minister, he has continued to emphasize the importance of transitioning to a low-carbon economy.

He undoubtedly has an interest in the topic. But you've yet to provide evidence that it dictated policies he put out as Governor of the Bank of England and that these policies specifically impacted the UK substantially. Going to conferences and talking doesn't crash the economy.

 

[Altair]

Again. Central banks don't determine energy policy. And his advocacy for climate finance was after his time as Governor of BoE. Notably setting up GFANZ at COP 26 in Glasgow in November 2021. Again, a reminder, he departed the Bank of England in March 2020.



I am not a banker. But I did learn the difference between fiscal and monetary policy in OAC Economics three decades ago. Central banks are responsible for monetary policy. Not fiscal policy. Maybe your criticism should be directed at the politicians running the UK at the time.

Carney is catching flak for breaking the cardinal rule of being a central banker.

Dont make it political.

Politicians dont like the idea of making central bankers national figures, they want them to be boring stiffs who drone on about stuff that makes most peoples eyes glaze over until they just say the benchmark rate.

Since carney has broken said unwritten rule, his entire body of work is fair game. And since his entire body of work is kinda boring competence, people are lumping in stuff he had zero control over.

Its like PP recent attack that Carney is poorly educated. There is a narrative forming, or trying to be formed that Carneys education, experience, and body of work isn't as rosy as it seems, and to be fair, I see why people are trying.

PP and his accomplishments are kinda lackluster in comparison.

 

[Haggis]

Some fresh social media posts today are talking about a possible cabinet shuffle. Some Liberal insiders believes that Nathalie Provost has been "underused" in her current portfolio. Read into that what you want, but it's likely not good.

 

[ytz]

Its like PP recent attack that Carney is poorly educated.

It's kinda hilarious in its brazenness. I'll give them that. But it's also kinda hard to take somebody seriously who resorts to this kind of attack. Imagine somebody saying this about somebody you knew personally. You'd think that person a clown.

 

[ArmyRick]

Some fresh social media posts today are talking about a possible cabinet shuffle. Some Liberal insiders believes that Nathalie Provost has been "underused" in her current portfolio. Read into that what you want, but it's likely not good.

Me thinks Lena Diab (Immigration minister) is most likely on the way out if cabinet shuffle happens

 

[ArmyRick]

It's kinda hilarious in its brazenness. I'll give them that. But it's also kinda hard to take somebody seriously who resorts to this kind of attack. Imagine somebody saying this about somebody you knew personally. You'd think that person a clown.

Aside from that, Pierre also went on to list many things Carney has been incorrect on or incorrectly predicted. That doesn't change. Tangible results matter which Liberals shy away from big time.

 

[Altair]

It's kinda hilarious in its brazenness. I'll give them that. But it's also kinda hard to take somebody seriously who resorts to this kind of attack. Imagine somebody saying this about somebody you knew personally. You'd think that person a clown.

Objectively, its false.

But even worse, and I say this as kindly as I can muster... Who the hell is PP to say this?

Career politician, held one cabinet post and didnt exactly cover himself in glory during that time.

The CPC needs to find itself leaders that had real jobs. The last one who can say that is O'Toole, and even then it can be argued his job was off the public teat.

 

[ArmyRick]

Objectively, its false.

But even worse, and I say this as kindly as I can muster... Who the hell is PP to say this?

Career politician, held one cabinet post and didnt exactly cover himself in glory during that time.

The CPC needs to find itself leaders that had real jobs. The last one who can say that is O'Toole, and even then it can be argued his job was off the public teat.

Why do people attack Pierre for being in politics for so damn long? He got ELECTED by his old riding 7 times and once by his new riding. Why do people make a stink out of this? Is there a limit to how many times a person can be elected? Career politician? So what? Liberal MP Heidi Frey been an MP for 33 years.

And on making cabinet. How many MPs EVER make cabinet. And if you really want to compare experience, Carney has been an MP for barely over a year while Pierre been one for over 20.