Skip to main content

Canadian Federal Elections in five weeks?

Last night the Conservative federal government presented its annual budget, it was not really an austerity program.  The 2010/11 federal government deficit is pegged at $40 billion, while the 2011/12 is $29 billion. There was one massive change, the minister of finance announce that many tax loopholes would be closed generating additional revenues of $3/4 billion per annum.  It was widely anticipated that the Conservatives would try to buy-off the NDP (Canada's "far left" party -- which puts them at the right of the U.S. Democratic party) but it turns out that there was not enough  "give aways".

The other segment where the government has been generous was in the accelerated depreciation for capital assets -- which is a good idea insofar as the CAD is so strong (and going stronger according to virtually everyone) that capital expenditure on plan and equipment is essential -- in fact the National Bank of Canada wrote a sensational piece on the productivity of Canada's manufacturing sector -- well worth a read.

Bottom line we were going to have election within the next 12 months (there has to be election after every 4 parliamentary session -- 'tis the law of the land), the Conservative government has been running "How good we are" adds for the past three months, since no one wants election in the summer, or risk the autumn (this is Canada -- snow storms are always around the corner!) late April or early May 2011 were seen that the optimal time to have elections, by all involved.

In fact, the only party that could cause problem with this picture is the Block Quebecois -- they have not shined much over the past few months (oblivion is more like it) and they may enjoy screwing with everyone's time table (they are the only party that has no pretension to power!).

N.B.  Election would normally take place 5 weeks after the vote of no confidence.  This has yet to be scheduled and there are some procedures which relate to the budget debate (if such debate does occur)

Popular posts from this blog

The end of Tesla?

 it takes a special kind of idiot, to think that he can antagonize his entire customer base, and think that it will not impact his business. When Elon Musk went to work for Donald Trump, and created the doge department, he antagonized every liberal, and these people represent 90% of his client base.That’s not a brilliant move. Now Elon Musk is worth hundreds of billions of dollar, so he shouldn’t care a great deal, however, he needs to care because of several other issues. The cyber truck has been a disaster, most have had to be recalled because of defective glue, it’s not a truck, it’s not a car, it’s noisy, relatively uncomfortable, but great as a development platform. What Tesla has learned in making car manufacturing more seamless is truly amazing. The problem was that Elon Musk was so pissed with the Democrats, and with Joe Biden, in particular because of some slight, which were just plain stupid too. By the way, that he decided to support with hundreds of millions of dollar, ...
Post a Comment
Read more

Donald Trump‘s bad bargain

 The entire of 2023 and 2024 when Donald Trump was running for the White House, his mantra was no war, that the Ukraine conflict would be resolved in a day, and that he would do everything not to involve America and war. How the world has changed! He finds himself facing three conflicts; Ukraine, still going on almost 5 months after he became president. Gaza, an unspeakable crime against humanity, is obviously going to go all the way to its bitter end. And finally, Israel’s attack against Iran. It’s important to note, that Benjamin Netanyahu first indicated at the United nation that the Iranian were 3 to 5 years away from having the nuclear bomb. He made that statement in 1995. Therefore, no one is surprised that he uses the same two lines every so often. It’s entirely possible, that 30 years after he first announced it, that Iran has finally developed the bomb. It’s also remarkable that Iran, local power has been destroyed, from Yemen, to Syria, via Lebanon and Gaza to small exten...
Post a Comment
Read more

TACO again, but worst!

 Donald Trump got the rare earth metals that he had thrown away on April 2, liberation day as he called it. What did the Chinese get in exchange? The whole deal, is on the wrap right now. But let’s be clear. It’s the Chinese that have the upper hand.Some of the materials made by the Chinese, are simply unavailable anywhere else. suspicions are that the Chinese got the high-end chips that they lost under Biden. Tariffs will probably return to the level of April 1, and in the end Donald and his friends got nothing for it. It gets worse, Chinese exports to United States are down 40%. The Chinese have found new markets, I probably never gonna buy American grain again. Once again, Donald Trump proved he’s a great negotiator. He got absolutely nothing for his Showmanship. He told the world, that everyone would come and kiss his ass, instead they’re laughing At him. There’s no joke about Donald Trump, a 25 and inherited a huge fortune and proceeded to make it a small one. Bottom line, the...
Post a Comment
Read more