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Let’s Listen to Stephen Harper

Posted by Larry Doyle on March 18, 2009 11:22 AM |

canadian-flagA month or so ago, I introduced former Australian Prime Minister and Treasury Secretary Paul Keating to our readers here at Sense on Cents. Keating offered a wealth of piercing and insightful perspectives on the world of global finance. He forecasted the likely shift of global financial power toward the surplus countries in Asia. While I have never seen nor heard Keating’s views broadcast here in the United States, I appreciated his sobering analysis.

In a similar vein, Canadian Prime Minister Stephen Harper is not exactly a household name in the United States. We were provided the political strappings of President Obama’s initial foreign trip when he traveled to Ottawa to meet Harper 6 weeks ago. The pomp and circumstance along with the Royal Canadian Mounties made for some nice theatre.

Let’s revisit the Canadian leader and see what he has to say. Last week, he provided a rather scathing review of the United States consumer, the Obama administration’s stimulus plans, and the Obama proposal of a carbon tax. 

Harper presents a very balanced review and approach. I specifically appreciated his definition of conservatism. Rather than my highlighting it here, I will allow you to discover that gem embedded in the attached article on your own.  Canada is one of the few countries in the world that is successfully weathering this global recession. Harper can teach us more than a few lessons on fiscal discipline, prudent lending, personal consumption, excessive taxation, and government budgets.  The truth often hurts, but is there any doubt about Harper’s assertion that amongst other factors Reckless U.S. Consumers Caused Recession

Prime Minister Harper, I thank you!

LD

  • fiscalliberal

    Brad Seter has further comment about forign non interest in us.

    Headline is:A bit more to worry about; foreign demand for long-term Treasuries has faded.

    link is:http://blogs.cfr.org/setser/

    He has charts, last sentence in the article is:

    It is also striking that — for all the talk of safe haven flows to the US — foreign demand for all long-term US bonds has effectively disappeared.

    • Larry Doyle

      Fiscal…Thanks for that link. It is interesting that foreign demand does not appear to have diminished but the cash looks to be parked in bills.

      If that persists we should look for our longer term rates to move higher.






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