Monday, October 22, 2007

U can't Dodge this

So Jim Flaherty, federal Minister of Finance, an elected representative of the Canadian people, can publicly beg retailers to recognize the tremendous rise in the value of the Canadian dollar over the past five years by lowering their prices and giving consumers due value for their money, and they can scarcely look up from guzzling the cream long enough to tell him to get bent…

Meanwhile, David Dodge, Governor of the Bank of Canada, the appointed head of an arm’s length Crown Corporation, nominally responsible to the government in the form of the Minister of Finance — that very same Mr. Flaherty — can muse darkly in public that the Canadian dollar has appreciated in value “abnormally quickly”, and the thing instantly plunges 1.6% in value.

Now somebody tell my why the hell this can’t work the other way around.

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