It feels like we're in a tangled ball of string right now, doesn't it.
While the CUSMA trade discussions are getting underway, we're also hearing about the "recession" data figures plus a revival of Trump's "51st State!" talk while the US economy is likely going to spiral downward as the pointless Iran War and Hormuz closure affects stock markets and world trade. Not to mention the atrocities in the Ukraine Russia War, and the Gaza and Lebanon Wars, and the ICE Gestapo in US cities. And of course the separation referendums in Alberta and Quebec, plus doom and gloom about this summer's fire season and supercharged El Nino weather and horrible heat waves in India and ...
Oh, its all just too much to keep track of.
I think Canada need another Carney
Forward Guidance video right quick, just to get through the summer.
At
Routine Proceedings, journalist
Dale Smith is concerned that Carney is ceding too much of the "recession narrative" to Poilievre:
....prime minister Mark Carney has been wholly silent on it since the data were released on Friday morning. He made two separate media appearances yesterday but took no questions at either one, and he has avoided Question Period yesterday and he’s avoiding it today, and it really starts to look like he’s ceding the ground to Poilievre, who keeps bellowing his ridiculous narratives while Carney, who is supposed to have the economic gravitas as a former central bank governor, remains absent. And there are important things we should probably be talking about with this data, such as the fact that in periods of slow growth, these indicators dipping below zero are less important than the overall picture, and that overreacting and panicking can lead to greater problems or damage in the longer term. But we’re not having this conversation because, again, Carney is ceding the field, and given that Poilievre seems to enjoy this unearned economic credibility, it’s frankly arrogant to think that his bogus narratives can’t gain traction because they absolutely can, and that will spell trouble overall.
Carney actually did respond to questions today: