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Overseas markets continue to tank; Harper says “don’t worry be happy”

The Nikkei Market as of this morning has suffered its worst drop since the 1987 Stock Market crash. 250 billion $ in shares were lost (so far) today.

But hey, according to Prime Minister Harper, Canadians shouldn’t worry. as that plunge will result in great buying opportunities in the stock market as a result of all that panic.

Don’t worry, be happy, Canadians!

UPDATE @ 8:20 am: Great bit of snark from one of the folks at the Globe and Mail today over that “buying opportunities” line Harper used yesterday:

Because you see, as an economist, Stephen Harper knows that if you have just lost half your retirement savings, […]

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Another new Liberal ad: Harpernomics and Bush

BushHarper.ca by the way, is going to be interesting to watch to see if they add any more such ads that show how much Steve is copying his American Idol, when he isn’t busy copying what John Howard has to say.

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Parallel universes.

Another American bank fails in the US:

Washington Mutual, the giant lender that came to symbolize the excesses of the mortgage boom, was seized by federal regulators on Thursday night in the largest bank failure in American history.

So another bank fails and gets nationalized by the US government, on top of what’s gone on down there already. Since all of these failures that have occurred, Barack Obama’s fortunes have risen and John McCain’s stock has fallen. In addition, polls have shown the American public blames the Republicans for this economic mess, and believe Obama and Democrats in general would be better at managing the economy.

Meanwhile in Canada, we have a Conservative Government that has managed to squander a 12 billion $ surplus down to almost nothing in less then 3 years, with warning signs that our own economy is going to get worse, and yet not only does Harper make the astounding claim only he and his Conservative party are the only ones that can be good economic stewards on the impending economic crisis, the Canadian public is somehow buying that line, if you read polling on the issue.

In my opinion, the counter-message to Harper’s claims on the economy on this isn’t being sent out enough or properly. The one Liberal ad going after Harper on the economy is a good start, but in my opinion, we need a lot more of those.

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“The fundamentals of our economy are strong” Sound familiar?

That’s what Harper was airing in those pre-election election ads about Canada’s economy. Did any of you think it sounded like a familiar refrain? Well it should, and Progressive Blogger affiliate A Creative Revolution points out at their site and at Youtube WHY it should sound familiar – because it’s what conservatives and their allies use as a line when the economy is going downhill:

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Exposing the “Conservatives are good for the economy” as a falsehood.

The Gazetteer asks a very good question over at his blog over why Conservatives are being perceived as good economic stewards in times of economic trouble:

Stephen Harper turned a $12 billion dollar surplus into a deficit in the BEST of times. And now that things are going sideways and he’s telling us that, in these times of ‘uncertainty’, that he’s the best man for the job? And we’re believing him!?

The answer is that the Liberals and others are not drawing enough attention to this. This falsehood needs to be hammered home by them in stump speeches and in ads; they shouldn’t be counting on the media to point […]

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