Tuesday, December 16, 2008
Spin The Wheel Steve
Well, the PM has changed his mind again. First, the downturn was "a good buying opportunity" and now it "could be" a depression. Does anyone else get the sense that Steveo is not a "steady hand" at the wheel of the ship (maybe the kind of "steady hand possessed by Edward Smith?--ed.)? Meanwhile "sources" have told the Globe that Flaherty is safe because he "is compliant with the Prime Minister's wishes." Does that fill anyone with confidence?
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although it was quite brash for a Prime minister to say back then and would be even more so today, a depression is still a very good buying opportunity.
ReplyDeleteMany companies that are in good financial positions are using the down turn to buy back their stock.
This was the case back in the 30s as well.
We will only focus on the hard luck cases (which out number the good by many)
But nevertheless many people with equity are able to profit from this situation.
because Canada compared to many other countries is doing "better", we as a whole could end up coming out ahead in the long run.(note this does not mean that times are not tough for many)
Canadian companies that have a healthy bottom line can buy back stock from foreign investors thus putting more control back in the hands of Canadians.
I don't think that Harper has changed his mind, and if you were to ask him if it is still a "good buying opportunity", I am pretty sure that he would answer yes.
I don't think that Harper has changed his mind, and if you were to ask him if it is still a "good buying opportunity", I am pretty sure that he would answer yes.
ReplyDeleteSadly, I think you are probably right. The point is however, his first statement was a rhetorical downplaying of the seriousness of the situation, whereas today, he is in "the sky is falling" mode.