Thursday, April 23, 2009

The Bank of _ _ nada? Carney's Bong Philosophy.

car·ney - n. Informal Variant of carny.

also car·ney
n. pl. car·nies also car·neys Informal
1. A traveling amusement show; a carnival.

Mark Car-ney
Christian name
Governor of the Bank of Canada (present)
A source of amusement?

The Bank of Canada's Mark Carney has admitted that, in order to figure out how this economy really works, one has to get "down in the weeds". However, we can only hope the repressed tall foreheads at the Bank of Canada have learned their lesson - - To wit; while it may be fun to try and divine the future using a crystal ball during a Gonzo-esque bongathon - in the end, it is but folly. How else can we be expected to reconcile the following?

January 22, 2009 - "the bank sees a rebound to positive activity by the third quarter of the year, when it forecasts two per cent growth and 3.5 per cent expansion in the last three months of the year. . . . .
'We are comfortable with our forecast, he [Carney] told reporters at a news conference in Ottawa."

April 22, 2009 - "Bank of Canada Governor Mark Carney says the recession likely will persist longer than he previously thought, . . . [and in a different article] . . . Governor Mark Carney, ... blamed the faster-than-expected economic collapse on the failure of U.S. President Barack Obama's administration to stabilize the banking industry and the deterioration of demand for exports." [* guess it always nice to have someone to blame?]

And today? Well, on April 23, 2009 we hear Carney now saying the Bank of Canada may have to devise a plan that will see it buy up "private-sector debt in credit markets that are "temporarily impaired."

"Temporarily impaired"? Ha, ha, ... sounds like a freaking Cheech & Chong euphemism. Mr. Carney, if you and your bongathon directors are really thinking of giving more money to this nation's banking oligarchy, be aware, it will do nothing to alleviate this mess. Our e'ffn banker's have enough of our money already! Further, the only thing that is really "temporarily impaired" is your sad, misguided, belief that the status-quo of wealth diversion in this country should be allowed to stand. To adopt any new measures that would see you give over even more of this nation's wealth to the Royal Bank (etc.,) so they may continue to report monstrous profits would be obscene. The banks in this country don't need anymore help.

How about seeing if your "toolbox" and our Tory government will allow you to give some of the country's money to those most in need - the people?


  1. Totally agree with you. Jim Cotton also has something to say about Mark Carney :

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