It is now approximately day sixty-one of Russia’s invasion of Ukraine, and after saying that they would blockade the remaining Ukrainians trapped in Mariupol, the Russians have instead tried to storm the steel plant where they are holed up. As well, over Orthodox Easter weekend, they have shelled residential areas of Kharkiv, and fired missiles at Odessa, so that’s concerning. As well, President Volodymyr Zelenskyy had a meeting with two US cabinet members, where Zelenskyy is expecting more arms and security guarantees.
https://twitter.com/ZelenskyyUa/status/1518192560816201728
I can confirm via Ukrainian administration source that Secretary of Defense Austin & Secretary of State Blinken have met in Kyiv with President Zelensky, the first visit by US officials since Russia’s full-scale invasion. No media was present. Now we await details of the meeting.
— Christopher Miller (@ChristopherJM) April 24, 2022
Closer to home, as the narratives around inflation get more ridiculous the longer they go unchallenged, remember that this both undermines the ability of the Central Bank to do its work, and ultimately it undermines its independence because they have to fight political narratives about them without actually fighting them, which is a hell of a thing to try to do.
If you think that inflation is caused by the machinations of a secret cabal, you are not a serious person.
Why the blame placed on supermarkets for inflation is 'absolute economic nonsense' https://t.co/haA41vsOWh
— Stephen Gordon (@stephenfgordon) April 24, 2022
I posted this on August 31, 2021, and the risk of a catastrophic financial, economic and political crisis has only increased. https://t.co/1zhyiM50lI
— Stephen Gordon (@stephenfgordon) April 24, 2022
Employment fell 15.6% between February and April 2020.
In comparison, employment fell by 9.8% between 1928 and 1932.
I'm astounded there are so many who think that the govt overreacted. How did they know *at the time* things would turn around so quickly?
— Stephen Gordon (@stephenfgordon) April 24, 2022
If the government of the day is going to publicly second-guess the Bank's judgment, then we're going to relive the perils of dynamic inconsistency on the conduct of monetary policy.
— Stephen Gordon (@stephenfgordon) April 24, 2022
Monetary policy is forward-looking: its effectiveness depends on a central bank's credibility. A Bank of Canada whose credibility is subject to the whims of politicians is worse than useless.
— Stephen Gordon (@stephenfgordon) April 24, 2022
And the longer the nonsense goes unchallenged, and my media colleagues try to be cute about “heehee, everyone is a little bit right!” as they both-sides the nonsense, the closer I’m getting to this particular Effin’ bird:
Every day writing about #cdnpoli. https://t.co/N5y2VSodZ8
— Dale Smith (@journo_dale) April 25, 2022
Good reads:
- Mélanie Joly says that the use of sexual violence by Russians in Ukraine isn’t getting the attention that it needs to.
- The Star delves into the decision to approve Bay du Nord, and how this has turned Steven Guilbeault from an activist into a pragmatist.
- While governments point the finger at foreign speculation in the housing market, the truth is that domestic speculation is just as big of a problem, if not more so.
- CSE is having a hard time recruiting new codebreakers, given how tight the labour market is and how exacting their security requirements are.
- Experts say that the pandemic has proven that we’re completely unprepared in the event of a biological weapon being used. No kidding.
- Documents show the government consulting on how to better protect the country from economic security threats.
- Here’s a look at how Indigenous traditional knowledge is being used to help reintroduce bison to Banff national park.
- Senator Ratna Omidvar wants her bill on seizing Russian assets fast-tracked (though the problem is our lack of expertise in pursuing financial crimes like these).
- The Ontario Office of the Independent Police Review Director deemed most of the complaints about the Ottawa police in the occupation to be not worth investigating.
- Heather Scoffield draws connections between the distrust around the freezing of accounts under the Emergencies Act and Poilievre’s discourse around inflation.
- Supriya Dwivedi calls out the falsehoods around the “truck tax” as more of the ongoing attempt to erode the norms of political discourse, and the effects that has.
- Chantal Hébert sees some parallels between Poilievre’s leadership campaign and that of Justin Trudeau, but also cautions about expectations based on crowds.
Odds and ends:
New episodes released early for C$7+ subscribers. This week I talk to @JenniferRobson8 about how the federal government might implement dental care, given the jurisdictional considerations. #cdnpoli https://t.co/SZteHo3Wsb
— Dale Smith (@journo_dale) April 25, 2022
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