Revolutionary Moderation

Running out of ammo

Perhaps it's just as well that the Prime Minister convinced the Governor-General to let Canada sit out the entire financial crisis, because meanwhile, the United States is quickly running out of ammo to throw at it. Reducing the prime rate to one quarter of one percent is a desperate attempt to encourage spending, because your rate of return through saving on US treasury bills is now a little lower than the rate of return through adding the change you find in your couch to what you already have hidden under the mattress.

No wonder Iggy seems cool to the prospect of a coalition - who the hell wants to govern during the next couple of years?