{"id":10427,"date":"2015-07-27T07:01:14","date_gmt":"2015-07-27T12:01:14","guid":{"rendered":"http:\/\/olduvai.ca\/?p=10427"},"modified":"2015-07-27T07:01:14","modified_gmt":"2015-07-27T12:01:14","slug":"forget-politics-here-is-what-the-economy-needs-don-pittis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=10427","title":{"rendered":"Forget politics, here is what the economy needs: Don Pittis"},"content":{"rendered":"<div class=\"story-headline\">\n<h3 class=\"story-title\"><a href=\"http:\/\/www.cbc.ca\/news\/business\/forget-politics-here-is-what-the-economy-needs-don-pittis-1.3166265\" target=\"_blank\">Forget politics, here is what the economy needs: Don Pittis<\/a><\/h3>\n<\/div>\n<p class=\"story-deck\"><strong>Try seeking a recovery as if Canada weren&#8217;t in election mode<\/strong><\/p>\n<p>If Prime Minister Stephen Harper could wave a magic wand and\u00a0make the Canadian\u00a0economy boom, you&#8217;d think he would do it now.<\/p>\n<p>It&#8217;s well-known that one of the main barriers for an existing government to get re-elected is a sagging economy. And despite Conservative Finance Minister\u00a0<a href=\"http:\/\/www.cbc.ca\/news\/politics\/joe-oliver-says-quantitative-easing-not-on-the-table-despite-recession-fears-1.3162968\">Joe Oliver&#8217;s boasts<\/a>\u00a0on job creation\u00a0and growth, there are plenty of signs that Canadians are\u00a0hurting.<\/p>\n<p>Oil and the loonie are plunging. And while Bank of Canada governor Stephen Poloz would prefer us not to use the word &#8220;recession&#8221; because it is\u00a0<a href=\"http:\/\/www.cbc.ca\/news\/politics\/bank-of-canada-s-stephen-poloz-calls-the-r-word-unhelpful-1.3153061\">&#8220;unhelpful,&#8221;<\/a>\u00a0it\u00a0seems clear that Canada is in or close to\u00a0that.<\/p>\n<ul>\n<li><a href=\"http:\/\/www.cbc.ca\/news\/politics\/recession-talk-looms-over-federal-election-campaign-plans-1.3161691\"><strong>Recession talk looms over federal election campaign planning<\/strong><\/a><\/li>\n<li><strong><a href=\"http:\/\/www.cbc.ca\/news\/politics\/bank-of-canada-s-stephen-poloz-calls-the-r-word-unhelpful-1.3153061\">Bank of Canada&#8217;s\u00a0Poloz\u00a0calls R-word &#8216;unhelpful&#8217;<\/a><\/strong><\/li>\n<\/ul>\n<p>The fact that governments cannot snap their fingers and fix the economy is in some ways reassuring. It shows that the conspiracy theorists who think the world is being controlled by powerful cliques\u00a0in smoke-filled rooms really are just wacky.<\/p>\n<p>Part of the problem is that politics is complicated. Despite his government&#8217;s\u00a0ability to pass practically any legislation, in so many ways, Harper&#8217;s hands are tied by external forces and those created by his own party.<\/p>\n<p>That is why an imaginary government that did not have to worry about politics might do things differently.<\/p>\n<p>One of the most obvious things to do when an economy is weakening is to spend. While it may be smart to run\u00a0surpluses when the economy is booming, you don&#8217;t have to be a fanatical Keynesian to think it&#8217;s good\u00a0to spend that surplus when the private sector economy is shrinking.<\/p>\n<p>In this case, Harper\u00a0is partly restricted by his own ideology. Switching from a\u00a0balanced-budget, small-government\u00a0focus\u00a0to Keynesian largesse would seem like a flip-flop and could alienate a\u00a0neo-conservative core.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Forget politics, here is what the economy needs: Don Pittis Try seeking a recovery as if Canada weren&#8217;t in election mode If Prime Minister Stephen Harper could wave a magic wand and\u00a0make the Canadian\u00a0economy boom, you&#8217;d think he would do it now. It&#8217;s well-known that one of the main barriers for an existing government to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[103,6315,3544,3000,4936,2285,1264,749],"class_list":["post-10427","post","type-post","status-publish","format-standard","hentry","category-economics","tag-canada","tag-canadian-economy","tag-cbc","tag-cbc-news","tag-don-pittis","tag-joe-oliver","tag-recession","tag-stephen-harper"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10427"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10427\/revisions"}],"predecessor-version":[{"id":10428,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10427\/revisions\/10428"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}