Just Maybe: Good may come from this

All of the economic malaise -- nice way to put a recession/depression -- and all of the sordid stuff that accompanies bad times might lead to better stuff. That's what I am hoping. You might have noted that DoSomething.org is the talk of Davos this year, along with PhilanthroCapitalism. People are trying to figure out how to use the crisis in capitalism along with the needs of philanthropy. Excellent idea.

Perhaps people will go beyond their own personal reach and really work to establish a better community. We have not seen that kind of thinking on a wide scale in decades. People liked Obama's message during the campaign. They loved the messages of hope and change. Regardless of country,we now turn to neighbourhoods and cities and we start figuring out how many things need doing.

Challenges have come along before, and people have often united to make things better. We are coming out of a vacuous period in which people saw their own personal wealth rocket, only to watch the same wealth evaporate. Time to shift gears, and build something real. Help the community. Eradicate poverty. We talk about this great country of ours -- let's all make it as great as it can be. And then, just maybe, we will really be wealthy!

When is Enough Enough??

I don't know about you, but everywhere I go people are concerned and downright confused about the proposed stimulus packages here and south of the border. We need something, something big. But then, hey, I don't want to pay for all that stuff, especially paying for stuff to beautify the nation's capital. And then, what about TARP? What about TARP? Sounds like it could end up as a Trivial Pursuit question in years to come. Sad.

So people think something needs to be done. They want help in their own personal life. Cut taxes. Help with expenses. Help with credit. And if they have lost jobs, help getting employed.

There is one overwhelming concern: Exactly how much is enough? That said, Treasury in the U.S. and Finance in Canada are hearing from all sides on how they are failing to do enough, and that they are meddling way too much.

Perhaps people are just a wee bit fatigued at this point, and starting to get cranky. South of the border we had one long primary season that under normal circumstances would have led to an inaugural high and levity for a good hundred days. We could just enjoy the Obamas and their style. Canadians feel the same way, having been totally invested in the US election. We just want to enjoy the culmination of a fascinating race. We have Barack. We have Hillary. And, we no longer have Bush. Yes, this was our hour to sit and enjoy.

But the economy has spiralled down. Yesterday looked downright spooky in the US when more than 50,000 people lost their jobs. Canadians have had a look at the American economy and thanks, but we just hope Canada doesn't go there.

Which brings me to the central question: how much stimulus should be given. I haven't a clue, but I do think everybody else is trying very, very hard to get it right. That at least merits a thank you.

Canadian Budget: Friend or Foe

Say Goodbye to the Surplus Years

All it took was a look at the potential Coalition Government waiting in the wings and the Tory Government were away to the races, drafting a new Budget designed to erase all thoughts about the nasty Economic Update that threw the Commons into an uproar. Prorogued members of parliament have returned, Flaherty is on his feet, and the Budget has been announced.

Question: Will Canadians be heading to the polls over this Budget? Is it a good budget? And given our demographics and lousy economic fortune, how long will it take before we see a surplus again? Paul Martin isn't the happiest guy to hear that all of his hard work has gone up in smoke -- you can hardly blame the former finance minister. On the other hand, and it is a big on the other hand, the economy needs a hand. Canada is currently relatively strong and we want it to remain that way.

Interesting to note how stocks rallied ahead of the Budget.