Thursday, November 13, 2008

Jim Flaherty: Stand up comic

I don't know whether to laugh or cry at this point. Flaherty's latest brilliant idea, shared with the media in what appears was an impromptu discussion, is to sell off some of the remaining federal real estate assets in order to avoid a deficit. I had to post the following as a comment to the Globe's article:
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Flaherty, and the rest of this government, is a joke himself. Let's say your house is worth $100 but loses 50% of its value because a housing market bubble has just burst. Now, you could borrow 75$ from the bank (you're still in good terms with them) to pay for this unexpected bill that just came in through the mail, or you could listen to Flaherty: sell the house for 50$, still have to borrow 25$ to pay the bill, and sleep on a park bench for the next little while as winter approaches.

Personally, I'd rather borrow the money and pay it back back with my house when it is worth $100 again. At least I can enjoy a little extra $25 for a few nights at a good hotel....

Anyway, the guy seems to be improvising every step of the way and so far, he's a pretty bad act.
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Just for kicks, I love to read the comments others leave behind. Here's a stellar example:

D Peters from Alberta, Canada writes: I have an idea, lets sell all that dead weight east of the ON-PQ border? That's a lot of land we can download. Well, maybe w should just sell all the have-not provinces and keep the rest. After all they don't seem to be generating much of anything.

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