Terence Corcoran: It’s Twilight for Detroit and the U.S. economy
Monday, December 8th, 2008
Massive centralization of power in the name of government control of the economy to result in stimulus – but not of the desired sort. As Mr. Dylan wrote, it’s “Sundown on the Union”.
Terence Corcoran, Financial Post
December 8, 2008
When it comes to governments sinking their teeth into the economy, the words ‘blood infusion’ don’t naturally come to mind
U.S. president-elect Barack Obama, in comments over the weekend, signalled his priorities: Never mind deficits, we need more government spending. “We’ve got to provide a blood infusion” to the U.S. economy, he said. “And that means we can’t worry short-term about the deficit.” He promised public works projects on a scale not seen since the U.S. interstate highway spending in the 1950s. Washington may also soon end up owning major chunks of Detroit’s auto industry, on top of its current banking stakes and controls. With politicians everywhere, Mr. Obama aims to promote economic activity and growth by increasing government control and by providing vast injections of what is now familiar to every citizen of the world as “stimulus.” Even stock market analysts appear to be caught up in the effectiveness of government stimulus, quickly concluding yesterday that Mr. Obama’s comments prompted a sharp rise in the Dow Jones and other market indicators. Lord help us.
A Red Deer, Alta., man who died after police zapped him three times with a stun gun had a pre-existing heart condition, a fatality inquiry heard Monday.
OTTAWA–Michael Ignatieff could be crowned Liberal leader in a matter of days.
GUANTANAMO BAY — The five captives accused of the 9/11 terrorist attacks and jointly charged with 2,973 counts of murder have said they want to quickly confess to the crime and stop the “drama” of the war crimes trials here.
General Hamid Gul, the former head of the Pakistani ISI, told CNN yesterday that both the Mumbai attacks and 9/11 were “inside job