Three months of double-talk, flip-flops, evasions and excuses
To no one’s surprise, the shoe has dropped. Uncontrolled spending has damaged our credit rating. Trudeau and Morneau cannot escape the consequences of overindulgence in debt.
The downgraded credit rating has profound effects. Borrowing becomes more expensive as risk increases. Worse, as old debt comes up for renewal, interest rates on that portion debt will increase. The end result is a steadily increasing cost of servicing debt and less government income available for services and programs.
Kitchen table economics are inescapable. The pretense that our government is taking care of us is a farce. We are governed by elitist ideologues with no understanding of the real world the people of Canada live in. The nonsense we hear repeated endlessly that “we are living in unprecedented times” has grown stale and stinks from overuse.
What is different is the arrogance, blindness and stupidity of the people we elected to represent us. There is nothing about the coronavirus epidemic that was not predictable. The decision to quarantine the entire population and to shut down all but essential services had immediate and predictable repercussions.
Businesses and individuals had no income, but basic expenses continued. Rents, mortgages, utilities, insurance, food, clothing, medications, credit card payments, equipment leases all had to be serviced from savings or new loans.
Over 90 days into this government-created disaster, we have no coherent plan on how we are going to engineer a recovery that will allow people to resume earning a living and recover from the economic hardships thrust on them.
Our governments cannot escape culpability. A few nations recognized the impending economic disaster that would result from a closure of non-essential services and chose not to follow the lead of those who held that a complete quarantine was essential.
It is embarrassing and sobering to realize that those nations did not suffer the dire virus spread and mortality predictions used to justify a complete quarantine.
Instead of leadership, we have been on a three month diet of double-talk, flip-flops, evasions and excuses while tens of thousands of us are increasingly desperate or starving.
We have a rudderless PMO in obvious disarray. The emperor stands exposed for the fraud he is. That is disgusting.
If you don’t think our situation is dire, take 5 minutes to review this VIDEO