HST to blame for drop in GDP…But where was that headline in the local news?
Nowhere, because it simply doesn’t jive with all the hoopla being shoved down the throats of British Columbians by the local propaganda floggers…
However, Ian Reid rides to the rescue with this outstanding mention:
Earlier I posted about the important role the HST has played in the slowdown of the Canadian economy. Statistics Canada reported this morning that the Gross Domestic Product fell over the last quarter, the first time since August 2009.
I noted that the TD bank was blaming the HST for the drop. Now, Mark Carney, Governor of the Bank of Canada, The Royal Bank and Federal Finance Minister Jim Flaherty have chimed in and they all agree – the HST carries a big part of the blame. It seems like we have a bandwagon.
There are two things about that.
The HST impact is concentrated in two provinces, BC and Ontario. That suggests the slowdown is much greater in our province and in Ontario. In other words ‘the greatest thing we can do for BC’s economy’ is turning into the greatest thing we can do for lost profits and jobs.
Here’s the second. You’d think this would be a big story in BC, front page, top of the broadcast news. It seems to meet the criteria of a story. It’s current, it affects every British Columbian and it’s not just speculation, there’s proof. Plus there’s the little thing that BC and Ontario are dragging the entire national economy into negative territory. Add it all up and it seems big to me.
But I’m a blogger. What do I know about a real story…
Go read the rest of this post , Reality used to be a friend of mine, now.