Harper is right that the fundamentals of the Canadian economy are strong; however, he is totally wrong in downplaying what is happening in the financial world right now. Canada has for a long time been justly proud of the strength and integrity of its banking system, especially compared to the system in the USA. But right now our banking system is under pressure, and we have a prime minister who seems to be unable to comprehend the threat.
Harper has been in charge of the country for the past two years, and has boasted that he and his government are the best people to govern Canada. Fair enough. But we, as voters, can expect a few questions to be answered by our Prime Minister, about things that have happened, and more importantly, not happened, on his watch.
First, let’s start with one essential trait of a good leader: foreseeing problems, and taking preventative actions.
As our prime minister, we have a right to expect that Harper and his motley crew would have watched over developments in the financial industry, and considered taking steps should things worsen.
You don’t have to be a rocket scientist to have expected trouble in the financial industry once the rot in the subprime mortgage market became apparent, starting roughly 18 months ago, while Harper was prime minister.
Why did the Tory government not anticipate the meltdown? Why did they not prepare plans to stop the liquidity crisis?
One possible reason is that Harper does not believe in the federal government taking action. He has been very clear in his earlier writings and speeches about his belief that the central government should be a much reduced one, with fewer powers and less money to spend.
But what Hands-off Harper does not get is that we expect our federal government to protect our country, economically as well as militarily. We expect our prime minister to behave in a ‘muscular fashion’ with respect to protecting our economy. We expect our Prime Minister to stand on guard for Canada.
So, where has Harper and his cabinet been these past one and a half years?
Where are the tighter regulations of off-balance sheet products, such as derivatives?
Why did they not come up with contingency plans to protect our banks from any runs by nervous depositors? Look at the response some of the major European governments are taking, to guarantee ALL deposits, as a clear message to the citizens not to panic.
Remember what President Roosevelt said in the great Depression? We have nothing to fear but fear itself.
That was leadership.
That was a leader standing guard for his country.
That was not the action of a man who believed that a ‘hands-off’ stance in the economy was the best way to restore confidence.
Why on earth should Canadian voters elect Harper as prime minister when he has shown in the past month or so that he is standing, eyes wide and panic-stricken in the face of the financial meltdown headlights, and bereft of any foresight regarding the protection of our banking system, and of our citizens?
Harper and his cabinet are a clear and present danger to the economic security of Canada.
We can not afford them becoming the government, not in these perilous times.
