If I was Paul Martin, Canada’s Minister of Finance, or David Dodge, Canada’s Governor of the Bank of Canada, I would be so pissed off at Canada’s new Deputy Prime Minister, for his sheer stupidity, that I would want to put my head in my hands and cry.
John Manley, Chrétien’s new fair-haired boy, literally screwed all of Canada yesterday with his big mouth; after telling everyone who would listen, including those who wouldn’t listen, that Canada’s manufacturing and industrial sector is only as strong as our low dollar.
In effect, what Manley said, was that once the Canadian dollar starts to rise to perhaps $0.80 US, Canada’s industrial sector would no longer be able to compete, and would probably collapse. In other words, the only thing keeping Canada solvent is a low Canadian dollar.
This “might” be true to some extent. But, to tell the world that Canada’s economy and strength is based on a pathetically poor performing currency is something you might expect from a competitor. But; certainly, not from our number two leader.
If Manley’s speech was designed to be a pep rally for Canada’s industries, it turned out to be a fiasco in terms of confidence in Canada’s business community.
After hearing that Canada would be on the skids if we ever improve the standing of our dollar, who the hell would be willing to invest in our economy?
The other thing which makes absolutely no sense about what John Manley had to say was this: if Canada would be able to move our dollar up, by as much as $0.20, wouldn’t that mean that our economy would be sound and growing? If so, where’s his logic?
John Manning is the same genius who went to the Middle East and said that you can’t call people who kill Israeli Jews terrorists, the same as you can call people who kill Americans terrorists.
Chrétien has saddled Canada with yet another real winner. Even Paul (I love Meech Lake) Martin is starting to look real good. How pathetic is that?