Tag Archives: Mark Carney

Roundup: Hoping it won’t be that bad (but it will be)

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Because we’re in the middle of re-litigating the carbon levy yet again ahead of the Conservatives’ planned confidence vote, some familiar patterns are emerging, some of which are from the Elder Pundits who are, yet again, playing the “It won’t be that bad!” card, when in fact, yes it will be. Case in point was John Ivison reaching out to Ken Boessenkool, former Conservative advisor, to talk about the industrial carbon price, and Boessenkool (whose post-political career involves a lot of validating the Elder Pundits’ belief that it won’t be that bad) told him that the majority of those prices are provincially regulated, so they should remain intact. Which is not an assumption I would make because we have several provinces who believe that they can reach their reduction targets without any price (which is stupid), and they want to keep attracting investment, particularly in oil and gas, so they are likely to either greatly reduce their industrial price, or kill it altogether. This will in turn trigger a race to the bottom among other provinces, so the prices become useless. This is the whole reason why a federal benchmark and backstop were created—so that provinces couldn’t do that, and why the Supreme Court validated this as a legitimate exercise of federal powers. (Incidentally, Jenni Byrne disavowed Boessenkool after that piece went to print, which pretty much validates my point).

Meanwhile, other Elder Pundits are trying to write about the alternatives the Conservatives will use instead of the carbon levy, but even there, as they assert that while the levy is the best mechanism but there are others (because remember, they want to keep insisting it won’t be that bad), but that is a misread of what the Conservatives are actually promising, which is to tear up everything the Liberals have done, and rely on magic (in part because they don’t want to do anything, excuse themselves from doing anything by insisting that we’re only two percent of emission so what we do doesn’t matter, and any action they do take will only be “aspirational.”) For what it’s worth, the NDP also believe in the magic that they can only price carbon for corporations and it won’t be passed along to consumers, or that consumers won’t have to change any behaviour because corporations are evil. And it’s really, really depressing because the actions are having a difference, we have bent our emissions curve downward, and this is going to just upend everything for the sake of authoritarian populism, while the gods damned Elder Pundits tut-tut that the carbon levy must be bad because it’s unpopular, never mind that their refusal to understand of communicate it, or to refute the lies about it, have contributed to this situation. Good job, everyone. Enjoy your summers of wildfire smoke, and your melting icecaps.

Ukraine Dispatch

Russians struck an apartment building in Kharkiv, wounding 21 civilians, as Ukraine destroyed 71 out of 80 attack drones overnight. There were also air strikes on Zaporizhzhia that injured 13 civilians. President Zelenskyy is hoping for faster action from the Americans, ahead of his visit to the White House, given that Ukrainian drone strikes have hit Russian arms depots, destroying thousands of tonnes of weaponry.

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QP: Not Question Period, but Catty Bitch Period

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The prime minister was away, off at Rideau Hall to swear-in the replacement minister for Pablo Rodriguez, and while his deputy was supposed to be present today she was not. Pierre Poilievre led off in French, and he raised the concerns by the “premier of the Quebec Nation” about asylum seekers and “temporary immigrants,” and who said he wants the Bloc to not support the government next week. This wasn’t a question for the government, but Jean-Yves Duclos got up to answer it anyway, and he first thanked the new cohort of pages in the Chamber, and then said that Poilievre’s statements were laughable. The Speaker then stood up to remind MPs that it’s important that questions have to do with the administrative responsibility of the government. Poilievre got back up to decry this the Bloc were going against not only Legault but also the Parti Québécois position. The Speaker warned again that this was not a matter for government, but Pascale St-Onge got up regardless—which she shouldn’t have—and spoke about how Quebeckers did not appreciate when Legault endorsed the Conservatives. Poilievre got up again and decried the loss of the Quebec lieutenant, and asked something of Pablo Rodriguez, who is no longer in government, so the Speaker moved to the next question. Poilievre switched to English to decry the NDP and their “taping up” their agreement, but again it wasn’t a question for government, to the Speaker moved on. Poilievre made a second swipe at the NDP, calling Jagmeet Singh a “fake, a phoney, and a fraud,” which still wasn’t a question, but Singh got up, and moved into the aisle (which you couldn’t see on CPAC), saying something inaudible to Poilievre, and there was much noise for a couple of minutes. When it died down, the Speaker said that the questions were supposed to be for government for the sake of accountability, that questions should be pointed and tough, and the answers clear, but this required working within the rules.

Alain Therrien led for the Bloc, who declared that their priority was seniors, and demanded they rise OAS and GIS for seniors under 75. Karina Gould thanked him for asking a real question. Therrien again demanded the increase, and Steve MacKinnon reminded him that they voted against lowering the retirement age, enriching the GIS, and dental care.

Jagmeet Singh rose for the NDP, and with a hoarse voice, raised the Canadian Medical Association’s worries about privatisation in the healthcare system and a shortages of personnel, which is provincial jurisdiction, but blamed the federal government anyway. Mark Holland praised their work with the provinces, and took a dig at the NDP for capitulating to the Conservatives acting like Mean Girls. Singh got back up and in French, and demanded assistance of the Aging Well At Home programme in Quebec. Holland got back up and again called them out for caving to the Conservatives.

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QP: Won’t somebody think about the GDP?

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The first prototype-PMQ day of the fall sitting promised to be a caustic set of exchanges between the PM and the leader of the opposition, and it did not disappoint. Well, it’s always disappointing, but it went about as well as expected, though perhaps not quite as caustic as one might have assumed. Pierre Poilievre led off in French with a swipe at the Bloc for their plans not to topple the government, and listed a bunch of nonsense about what the federal government allegedly did—but it wasn’t really a question for the government. Justin Trudeau listed things they have done that the Conservatives would cut. Poilievre recited some slogans, and wondered again why the Bloc allowed it, which was again not a question for government, and the Speaker said nothing. Trudeau listed things that Poilievre voted against in his “thirst for power.” Poilievre switched to English to make the same swipe, but this time directed to the NDP, and wondered why they weren’t saying they would vote against the government, which again was not a question for government. Trudeau repeated that Poilievre voted against Canadians’ interests because he only cares about himself, and that he was in a bad mood because the economy was performing well. Poilievre recited a litany of slogans, and Trudeau said this was mere performance because he doesn’t care about Canadians and repeated the points about inflation coming down and that Poilievre can’t use his “justinflation” slogan anymore. Poilievre took this as an excuse to list the people using food banks or who are in tent encampments, and Trudeau said this empathy was false because he was using the vulnerable for his own gain.

Yves-François Blanchet led for the Bloc, and he lamented the remarks of the special advisory to counter Islamophonia, and wanted the government’s definition of Islamophobia. Trudeau spoke about the rise of it and antisemitism, but did not provide a definition. Blanchet noted this and accused the government of polarising Canadians, and Trudeau pointed out that he is a proud Quebeckers and there are more Liberals from Quebec than in the Bloc, and that they need to combat intolerance. 

Alexandre Boulerice rose for the Bloc, and decried the increasing privatisation of healthcare and demanded the government put a stop to it. Trudeau said that the NDP can’t deliver the goods on progressive policies, as shown by their backing out of their agreement, because they didn’t like it when things got hard. Alistair MacGregor took over in English to worry about grocery prices, and accuse the government of “caving to CEOs.” Trudeau accused them of taking a page from the Conservative playbook in choosing slogans over hard work.

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Roundup: Two percent ahead of schedule

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The big news yesterday was that according to August data, headline inflation returned to the Bank of Canada’s target of 2.0 percent, well ahead of schedule. It’ll bounce around for a while as the economy continues to rebalance, but it’s a sign that the Bank has essentially stuck the soft-landing. And before you repeat the Andrew Scheer line of “People are going to food banks, you call that a soft landing?” the answer is that the alternative was a recession, so yeah, this definitely beats that.

Things are still uneven, and yes, housing costs continue to drive much of the current inflation, and gasoline prices are a big reason why it fell as much as it did in August, so those will bounce around some more. Food is still running a little bit above headline, but nowhere near what it was before because supply chains have evened out, prices have stabilized from supply shocks (driven by climate change and the invasion of Ukraine), but seasonal price changes are also having an impact. (More from Trevor Tombe in this thread).

https://twitter.com/trevortombe/status/1836026950281744434

Meanwhile, I have seen zero discussion about how everything that Pierre Poilievre has claimed was causing inflation—deficit spending, the carbon levy, and so on—has all been proven false, to say nothing about the comparison between us and the US in terms of deficits and economic performance. Oh, but then they may have to actually point out that he’s lying, and they don’t want to do that. Not to mention, this is Canadian journalism, and we don’t like to actually talk to economists to understand what’s going on, we only need them to assist in both-sidesing bullshit talking points from the parties that paint a picture of doom (because there is “no such thing as a good-news economic story”). Is it any wonder Canadians have such a distorted view of the economy?

Ukraine Dispatch

Russians have once again targeted energy faculties in Sumy region, while shelling in Zaporizhzhia, has killed two people. Russians claim that they have captured the town of Ukrainsk in the eastern Donbas region.

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QP: Did you hear the good news about inflation?

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The prime minister had initially indicated that the would be present, but when the time came, he was not. His deputy was present for a second day in a row, in the wake of the by-election losses, but also in the wake of the news that the inflation headline figure has returned to target, and which I fully expected the Liberals to be insufferable about. All of the other leaders were present, unlike yesterday, and Pierre Poilievre led off in French, raised the by-election losses, falsely called the federal government as having been responsible for the largest expansion of government in history, and wondered how the Bloc could support them—which really wasn’t a question for government. Chrystia Freeland got up to praise the inflation numbers, as expected. Poilievre dismissed this as cold comfort for people, and again asked why the Bloc supports them (which is not a question for government), and Freeland again praised the inflation numbers while calling Poilievre economically incompetent. Poilievre switched to English to again raise the by-election losses and recited his slogans. Freeland repeated her good news talking points in English. Poilievre again called this cold comfort, called Freeland incompetent, and raised the fictitious “second carbon tax” as taking a huge hit on the economy. Freeland insisted that the inflation news was good news for Canadians and bad news for the Conservatives. Poilievre repeated his fiction of the “second carbon tax,” which is not a Thing, and demanded an election. Freeland recited good news talking points about housing, repeating the announcement she made yesterday on mortgage amortization.

Yves-François Blanchet led for the Bloc, and first addressed to Poilievre that they got fourth place in LaSalle—Émard, before demanding support for their bill on expanding pensions for seniors under age 75. Freeland recited talking points about supports they have added for seniors, particularly those most vulnerable. Blanched again demanded a royal recommendation for the Bloc bill, and Freeland would not indicate support for that bill.

Jagmeet Singh rose for the NDP and declared the Liberals “done,” then demanded price caps on certain groceries. Freeland hoped that they would set partisanship aside in order to congratulate Canadians for getting inflation back under control, before noting they have increased taxes on corporations. Singh switched to French to repeat his same declaration before demanding and end to “real estate giants” ripping people off. Freeland scoffed at the notion that the Liberals are teaming up with the Conservatives (earned Conservatives applause) and then slammed the Conservatives. 

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QP: Slogans after the summer

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The first day back from summer break, and nearly all of the leaders were present and ready to perform for the cameras. After the newest Conservative MP was introduced to take his seat, Pierre Poilievre led off in French, and he noted how many times the Bloc has voted in favour of the government, before reciting some slogans. Justin Trudeau said that if he had spent any time talking to Canadians over the summer, he would have seen a desire for solutions, not things in his own interests. Poilievre claimed that they had overseen the biggest expansion of the federal government in history (not even remotely true), and recited his slogans again. Trudeau praised the investments into Telesat and mocked the Conservatives trying to call up Elon Musk. Poilievre switched to English to recite come slogans that obliquely called for an election, and Trudeau repeated the line that Poilievre is only out for his own interests. Poilievre blamed the carbon price for child hunger, and demanded an election. Trudeau reminded him is that climate change costs money, and that Poilievre’s do-nothing plan would be even more expensive. Poilievre said that the carbon price hasn’t stopped any fires or floods, and took a swipe at Mark Carney before again calling for an election. Trudeau repeated that Poilievre’s do-nothing plan would help nobody and endanger the future.

Yves-François Blanchet rose for the Bloc, and raised the by-election in Montreal, and raised the “discrimination” that seniors over 75 get higher pension cheques. Trudeau noted that people over 75 have higher expenses and more depleted savings, and called out the Bloc for voting against dental care. Blanchet said that dental care encroaches upon provincial jurisdiction, and said that he misled people when he said that Anglophones in the province were getting poorer services. Trudeau said that the provincial government itself said that they were not clear but had not provided a clarification. 

Peter Julian rose for the NDP, and in French, named the two ridings with the by-elections, before reciting talking points about corporate landlords. Trudeau needled him for hiding once the Conservatives pressured them, while the government is doing the hard work of progressive policies. Julian switched to English to name the two ridings and accused the government of making people pay for healthcare. Trudeau needled them even more forcefully about how they turned tail when hard things got hard.

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Roundup: An economic “nuclear winter”

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The stupid season is about to begin as MPs return to Parliament today, and lo, Pierre Poilievre primed his caucus in a meeting yesterday with a speech that decried the carbon levy as creating a “nuclear winter” for the economy. It’s absolute horseshit, because the carbon levy is not the cause of inflation or the cost-of-living challenges we’ve faced (and in fact, climate change is a major contributor to it), but this is Poilievre, and truth doesn’t matter.

I will also add that it was incredibly disappointing that in writing up the story, The Canadian Press simply both-sidesed Poilievre’s nonsense with the talking points of the two other parties, instead of phoning up an economist who could say “That’s horseshit, you should stop listening to that man.” (Yes, it was a Sunday, but a service like CP should have enough contacts that someone would answer their phones who is NOT Ian Lee). But leaving Poilievre’s comments to stand like that, completely unchallenged, is irresponsible.

Meanwhile, as the Liberals try yet another round of trying to convince the public of the merits of the carbon levy and that the rebates exist, there have been a few suggestions of what they should have done from the start, but Jennifer Robson’s are among the most salient/best to implement.

https://twitter.com/JenniferRobson8/status/1835333573366210734

Ukraine Dispatch

A married couple were killed in a Russian strike on the suburbs of Odesa, while at least 42 were injured in an air strike on an apartment building in Kharkiv. There was another prisoner exchange over the weekend, swapping 103 POWs from each side.

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Roundup: Straying far out of their lane

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After their big song and dance about wanting the federal government to stay in their own lane, the premiers decided to start weighing in on defence spending—an explicitly federal jurisdiction—yesterday, trying to insist that Canada should meet its NATO spending target sooner than the outlined plan. I’m really not sure how this is exactly the premiers staying in their own lane if they expect the prime minister to stay in his, but they certainly made no shortage of ridiculous excuses for their demands, such as this being about trade with the Americans and so on, but come on. Justin Trudeau did write a letter in response to Tim Houston and Doug Ford, saying the federal government is only trying to help the provinces improve the lives of Canadians, and that maybe they should sign on rather than be obstructionist.

Also from the meeting, Manitoba and Newfoundland and Labrador expressed an interest in resettling some the asylum seekers who landed in Quebec, but that hasn’t stopped Doug Ford from demanding more money for resettlement, nor has it stopped David Eby and Danielle Smith from demanding money for “newcomers,” when the specific issue is just what obligation the federal government has for asylum seekers before their refugee claim is approved, at which point they genuinely become a federal responsibility. This isn’t about helping to settle economic migrants or other mainstream immigrants, which aren’t the federal government’s sole responsibility, but they want to pretend that it is because they want to whinge for more money when what they’re trying to conflate has nothing to do with the actual obligations of the federal government. Again, it’s not really that tough to understand, but these premiers are going to be obtuse and engage in sophistry along the way.

Meanwhile, because several of the premiers are talking equalisation again, I cannot stress enough how badly the CBC described the programme in their article today. Provinces do not write cheques for equalisation. Not province transfers money to another province. It is paid for out of the federal treasury from the income taxes collected from all Canadians, and distributed to those provinces who fall below the threshold of fiscal capacity to have equal programming. Even more to the point, while not raised in the CBC piece, fiscal capacity has nothing to do with whether or not a province is running a deficit, because that would be absolutely absurd and no province would run a surplus if they thought they could get equalisation dollars if they didn’t. Regardless, this was extremely sloppy journalism from the CBC and reads to me like the reporter just relayed how one of the premiers described how the programme works rather than actually looking it up or asking someone who has a clue (and that’s not any of the premiers). Hermes wept…

Ukraine Dispatch

Russia and Ukraine exchanged 95 prisoners of war each yesterday.

https://twitter.com/zelenskyyua/status/1813524697964823028

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Roundup: Target 2032

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The government’s slow rollout of NATO announcements continued apace yesterday with the formal announcement that their roadmap to meeting the defence spending target of two percent of GDP was expected by 2032, at which point that would include not only the submarines, but some other air defences as well. But because the details on that roadmap remain scarce, it allowed the usual narratives to carry on, while the Conservatives took to their socials to insist that the government had no intention of really following through on this promise, with no evidence at all (unless it was an admission that they have no intention of sticking to any of these plans, because they have already admitted that they have no intention of meeting the two percent target, merely “working toward it.”)

There was also an announcement that Canada and the US would work with Finland on icebreaker capability, with the details to be worked out in the next six months.

Ukraine Dispatch

Russia launched two missiles and six drones at Ukraine, mostly at the Sumy and Mykolaiv regions. US intelligence reports that Russian agents tried to assassinate the CEO of a German arms manufacturer sending weapons to Ukraine. And Ukraine’s former army chief, who clashed with president Zelenskyy, has begun his new role as ambassador to the UK.

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Roundup: New subs on the menu

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We all knew it was coming, but the day finally arrived—the announcement that yes, Canada is officially embarking on a new submarine fleet, that we’re planning for up to twelve (from the current four), and that they will be conventionally powered and not nuclear (so no, we won’t be getting into the AUKUS nuclear subs club).

This is going to push us past the two percent spending target for NATO, but it does amaze me that the government waited until this long at the NATO conference to announce it, after they spent the past two days being punching bags for American congressmen and senators who want to look tough and make a point, while also feeding the bullshit narrative back home that the Elder Pundits have decreed we must follow. You would think that the supposed communications geniuses that this government purports to employ would get ahead of the entire situation, but no, that is apparently beyond their capabilities. Hermes wept; this government is so gods damned incompetent at these kinds of things that should be absolute gimmes. Cripes.

Meanwhile, the CBC tried to pin down the Conservatives on their totally serious plan to both “move toward” meeting the NATO target (note the hedging language that does not say they promise to meet it—remember, the Conservatives love “aspirational” targets that they can pay lip service toward with no intention of ever meeting), while cutting the budget overall (that means cuts at defence because that’s the easiest target and most able to push back capital expenditures). Unsurprisingly, the Conservative wouldn’t actually give direct answers, nor would they say what they mean by restoring “warrior” and not “woke” culture in the Forces. Of course, that’s generally code for the culture of toxic masculinity that got the military into so much trouble in the first place, with both sexual misconduct and abuse of power, but these guys are up late watching bro culture videos on YouTube, so they know all about “warrior culture.”

Ukraine Dispatch

A Russian missile strike in the Mykolaiv region has killed one and injured eight including a local mayor. A combined drone and missile attack on Odesa has killed two and damaged port infrastructure. Russian forces also claim to have taken control of Yasnobrodivka in the Donetsk region, which Ukraine won’t confirm. Ukraine’s top prosecutor alleges that Russians killed two prisoners of war from the Zaporizhzhia region. Here’s a look at why the incoming F-16 fighters likely won’t have an immediate impact on the war.

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