tag:blogger.com,1999:blog-2698310242602729439.post3301136274972753288..comments2024-03-10T00:29:26.833-08:00Comments on Aberhart and Harper on Crusade: Tony Panayi Continued: Ontarians for Responsible GovernmentEmily Deehttp://www.blogger.com/profile/08354341672810615468noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2698310242602729439.post-47444125397287553072010-07-28T20:41:48.622-07:002010-07-28T20:41:48.622-07:00The Rae deficits and the Mulroney deficits were ca...The Rae deficits and the Mulroney deficits were caused by the same thing - the zero inflation policy of the Bank of Canada implemented with very high interest rates. This made interest payments on the debt much larger than they should have been and also caused massive unemployment and bankruptcy, reducing the tax base and increasing the number of people on social assistance. <br /><br />Mulroney tried to control the federal deficit by slashing transfer payments to the provinces.<br /><br />Mulroney appointed John Crow to head the Bank of Canada and Mulroney's Finance Minister Michael Wilson supported the zero inflation policy. It deliberately caused massive unemployment which has yet to be fully solved to this very day. This created a new structural deficit situation that would be "remedied" by slashing services to those of lesser means. All of this served to create what one economist has called the Great Canadian Slump.<br /><br />Bob Rae when he took over Ontario had no chance against this onslaught. Some say that his policies helped contain the damage. That he was blamed for the trouble, and not Brian Mulroney and the right wing apparatus that supported his destructive policies, shows the evil of this apparatus and its ability to lie to the people and to be believed through its financial resources - the power of such groups and of the super-rich in general was boosted by these destructive policies and that of its victims was curbed substantially as intended.<br /><br />Bob Rae is owed an apology. One can say that he lost his nerve and that's possible, but again, he was like most Canadians victims of a most destructive scheme hatched by the right wing section of the Canadian elite.Mr. Rhttps://www.blogger.com/profile/02030162032320092724noreply@blogger.com