Cyberwanderer’s Blog

March 17, 2008

Stock dropped after U.S. rate cut

Filed under: Canada,Politics — cyberwanderer @ 12:03 am
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The stock market is in a very delicate situation right now. Hope people don’t panic as stock market opens here on Monday morning. As of now there are huge drops in the Asian stock market and U.S. dollar continue to fall. This comes after JP Morgan bought Bear Stearns on the cheap at $2.00. Bear Stearns was at one time trading at about $150.00 last April and recently fell to about $30.00. So it is a shock that it’s now being sold for $2.00. That means it is pretty much gone. I guess the bail out is a necessary move because allowing it to collapse would create panic among investors. Scene like depression era comes to mind when people were rushing to the banks to withdraw money which only worsens the situation. I doubt that would happen but with online trading now, people would probably be transferring their money out of stocks and into the safer bonds. Whether the Bear Stearns buy out would be enough to ease concern remains to be seen.

Asian stock as of this time:

Hang Seng fell by 932.52 points (~ 4% dropped)

Nikkei 225 fell by 439.20 (3.59% dropped)

Related article:

Bloomberg – Asia Stocks, U.S. Futures, Dollar decline after Fed Cuts rate

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March 12, 2008

Election likely in spring

Filed under: Canada,Politics — cyberwanderer @ 12:22 am
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There are signs that Liberal might be preparing for an election. It seems like they are now talking along the same line. John McCallum said:

We have said that we would not bring the government down at this time before Easter but come April or May or later in the session, circumstances might have changed… Later on in the session, all options are open.

Stephane Dion said:

If they (Tories) do something that we Liberals consider aggravating the situation they have created . . . we may decide, indeed, to trigger an election,

Toronto Star considered Flaherty’s bill to scuttle the RESP bill, voted for by all three opposition, as a possible aggravating situation.

Liberal strategy seems to be to delay it until spring. So they won’t vote this initial bill down. They would instead vote down the budget implementation bill so that election will happen on spring. By that time, the weather have improved and by-election is done (possibly giving them some momentum).

McCallum said Liberals will vote against the motion “but not in sufficient numbers to bring down the government.”

However, he said Liberals might yet bring down the government over the budget implementation legislation that will flow from the motion. That legislation, which also includes the provision to kill the RESP bill, will take some weeks to wend its way through committee before coming to a final vote in the Commons. ….

He said the party could choose to defeat the government over its decision to kill the RESP bill or, more generally, over the government’s failure to plan for a sufficient budgetary surplus to cushion the blow of such an unexpected development.

I think the fact that government practically emptied the treasury, leaving no cash for rainy day while claiming to be aware of an economic slow down, would be a good reason to go to poll with. Flaherty’s constant screaming of deficit on every opposition’s plan would only come back to bite him on his rear.

Source, related article and blog : – Liberal threaten election over budget (March 11, 2008)
Flaherty criticize his own tax savings account (March 11, 2008)
Is Flaherty hiding a deficit already? (Feb. 26, 2008)
Conservative fear mongering on budget (Feb. 17, 2008)

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March 11, 2008

March 10, 2008

Conservatives continue to dodge question about Cadman

Filed under: Canada,Politics — cyberwanderer @ 6:18 pm
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It is really hard to give a straight answer when you are lying. There are signs that the Harper’s Conservative have difficulty giving straight answer when it comes to the Cadman bribery scandal.

Harper’s communication director Sandra Buckler says she categorically deny any offer was made to Cadman. But when Globe and Mail asked Buckler to confirm that “no representative of the Conservative Party at any time offered Chuck Cadman a financial benefit in exchange for his vote [understanding] ‘financial benefit’ to mean anything but help with a possible election campaign.” She refused twice.

The same thing happens when Ryan Sparrow, Conservatives spokesman was asked to deny financial offer were made.

Ryan Sparrow, a Conservative Party spokesman, declined in six e-mail exchanges with The Globe and Mail to state that no Conservative official had ever offered a financial inducement of any kind to Mr. Cadman.
closequote.jpgThe Globe and Mail

The key in both statements were “at any time” and “had ever offered” which would cut through their scripted reply that there was only one offer made. Their refusal to make statement to that effect means this issue will linger on.

Related / previous blog:

Harper’s tape contradict his denial of bribe – summary and links to audio tape of Harper and Chuck Cadman

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Baird gets an F; China doing more than Canada

Filed under: Canada,Politics — cyberwanderer @ 12:43 am
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Baird got a failing mark on environment. His reply was they want to do a better job on the environment. What about by starting to act. His other argument was that they have only been in power for two years so change takes time. But if you don’t have plan for the future, change won’t happen on its own. Unless it’s the decaying kind of change. It’s been two years of talk and rhetoric with little action. He even joined Bush team in trying to obstruct negotiation in Bali and boycotted environment ministers meeting at the crucial hour of negotiation. It’s really pathetic if people are praising China for being more dedicated, and having plan in place that is better than Canada. Not to say all things are well in China but…

No gasoline-powered car assembled in North America would meet China’s current fuel-efficiency standard. Even vehicles produced under California’s proposed, and much praised, efficiency law – being fought tooth and nail by the U.S. and Canadian governments and the auto industry – wouldn’t come close to the Chinese mileage limits….. And any hope of getting the troubled Kyoto Protocol negotiations back on track comes in large part from China.

To be sure, China faces massive environmental problems: For evidence, look no further than photos of Beijing’s impressive Olympic venues, their dazzling architecture obscured by thick smog……It’s opening new coal-fired generating stations at the rate of about one a week. Still, it is doing far more than Canada, the U.S. or just about any other place to clean up its act. It has begun to impose regulations and targets for car emissions, renewable fuels, carbon storage, forest renewal, energy efficiency and industrial pollution. It’s investing heavily in new technologies, including “clean” coal and alternative power sources. In many ways it’s putting us to shame.

Remember Harper’s talking point at Bali? They claimed China was not doing anything so we should not do anything also? At that time, CTV rips the person they were interviewing for suggesting China is doing more. An act more in character with tabloid style partisanship of U.S. Fox News.

Here’s a captioned picture of Baird from ledaro’s blog. Funny but sadly true.

Links used in this post: – Gov’t gets failing grade… – Ottawa wants to do ‘better job’… Dec.15, 2007 – Baird a no-show – China’s green leap forward
Is CTV going the Fox news way?
(previous blog)
LeDaro’s blog

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