Scoring Cheap Political Points from Market Slowdown
As the economic slowdown in China signals what could be a rocky ride in the upcoming months for North American stock markets, political leaders are scrambling to gain political advantage from the sell off.
Although most financial experts point to weak growth in China, a poor U.S. jobs market and anxiety over whether the U.S. Fed will start raising interest rates, that didn’t stop the NDP and Liberal leaders from pinning the blame on the Conservatives. To recap:
- Tom Mulcair got the blame game started by saying: “Don’t forget that the reason we’re in such a precarious situation in Canada right now is because Stephen Harper made a huge bet on one number — oil and gas.”
- Then Justin Trudeau piled on by adding: “Canadians are sitting around their kitchen tables today and are understandably worried about their investments and their retirement savings, given the news across the markets. But meanwhile Conservatives are scrambling to take political advantage of it and point fingers.”
- To which Stephen Harper responded: “I think we want to stay the Conservative course that has, in a troubled global economy, consistently made this country an island of stability.”