Stephen Gordon (among others) took the time to point out that Jim Flaherty's attacks on the Bank of Canada are both unwise in general, and wrong in terms of economic theory. But even setting aside those critiques, the mot important message to be taken from Flaherty is that he's once again seeking to benefit the rentier class at the expense of workers - signalling that he'll happily trade off a decline in employment for higher returns on capital.
Of course, that was a dubious enough set of priorities at the best of times last weekend. But this week's added news that the Cons are failing miserably on the jobs front already only emphasizes the need for a stronger public policy focus on making better employment available to Canadians. And the more the Cons make clear that they're once again determined to make matters worse, the more obvious it'll be who bears the blame when Flaherty's influence on fiscal and monetary policy alike have their predictable effect.
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