Thread by @timethief

🧵1. There is no #coalition as the NDP MPs are not in the Liberal cabinet., instead there is a supply and confidence agreement to provide stability and an environment to get important work done #supplyandconfidenceagreement

2. During a time when transitions from a pandemic financing to normalcy must take place Canadians will benefit from what the supply and confidence agreement provides. Federal #COVID19supports expired on May 7th. cbc.ca/news/politics/…

3. Finance Minister Chrystia Freeland says Canada's surging job growth and record-low unemployment rate is evidence that ongoing pandemic support will not be needed. Those applying for workers' benefits have 60 days to submit their claims, while businesses have 180 days.

4. An ambitious growth plan for building a sustainable and innovative economy is found in the #Budget2022. The Budget is projected to trend -0.50 percent of GDP in 2023 and -0.30 percent of GDP in 2024, according to our econometric models. tradingeconomics.com/canada/governm…

5. #EconomicProvincialRankings - How Canada Performs. #cdnfinance #cdnpoli #cdneconomy
conferenceboard.ca/hcp/provincial…

6. Unfortunately, Canada's Official Opposition's focus on "getting Trudeau" distinguished itself by failing to deliver on its secondary parliamentary role, which is to provide substantive & actionable alternatives to proposed govt policy that would better benefit Canadians.

7. While CPC candidates for party leadership have been focused on distributing emotional and misleading propaganda meant to stimulate votes from their base. the Conservative Party of Canada has been spelling the false narrative that Trudeau is responsible for rising gas prices.

8. Gas prices have nothing to do with the Liberals & NDP & Canadice Bergen interim leader of the CPC knows that but chooses to lie. The world over the single biggest factor influencing changes in gasoline prices changes in the price of oil. forbes.com/sites/rrapier/…

9. Energy giants such as Shell, BP and Exxon all pulled out of Russian energy deals, the US administration announced a ban on importing Russian oil and other petroleum products, which represents about 8% of U.S.-bound crude shipments.

10. Our rising gas prices due to a) Putin's war on Ukraine, b) supply and demand issues, and c) the weaker Canadian dollar point toward gas prices going up an additional five cents per litre this week. And those factors cannot be laid at the feet of the Canadian Liberal govt.

11. Supply-chain disruptions have slowed but not arrested Canada’s economic recovery. More persistent supply constraints could, however, mean that inflation stays higher for longer and delay a projected acceleration in trade and consumer spending.

12. The pandemic highlighted the weakness of the Canadian social safety net for the unemployed & those living in poverty. The gender wage gap remains & Indigenous peoples and the disabled remain under-privileged in socio-economic terms.

13. Building a more resilient & inclusive economy requires strengthening social policy. That's what #Budget2022 and the Supply and Confidence between the Liberals and NDP is aimed to do. Don't let theatrics by an Official Opposition that has filed to meet the muster distract you.

14. The #BankofCanada hiked the interest rate to 0.5% & more small rate hikes are expected as the central bank tries to rein in inflation. Read about Canadian #monetarypolicy and the operation of the #BankofCanada bankofcanada.ca/wp-content/upl… #cdnpoli

15. The Bank of Canada has no ability to set spending or taxation priorities for any level of government in Canada. Nor does it have the ability to directly regulate labour or product markets. It plays a limited role in the regulation & oversight of parts of the financial system.

16. When the government borrows from the #BankofCanada, the Bank of Canada can either print paper money, or it can borrow it from another source. Either one is a liability on the Bank of Canada’s balance sheet. bankofcanada.ca/rates/banking-…

17. In truth, comparing govt debt to household debt is laughable & all economists say so. All countries have deficits that will be paid by future generations. So which part of their base do you think leading #fearmongering #CPCleaderwannbes are playing their Pied Piper tune to?

18. a) Former Bank of Canada governor David Dodge is strongly disputing Conservative Party MP and leadership candidate Pierre Poilievre’s claim the central bank is “financially illiterate.” ctvnews.ca/politics/forme…

18. b) On another Poilievre stance -- that cryptocurrency allows people to “opt out” of inflation -- Dodge said “he has no idea what he’s talking about.”

19. Don't forget Pierre Poilievre, a member of the political elite & the elite of millionaires has sat in the HoC for nearly 2 decades. Parliament approves gov spending but that reality is missing from his narratives on our economics. All he's learned is how to spin-doctor facts.

20. Banks are financial intermediaries. They make it easier for a complex economy to execute an extraordinary range of transactions that occur in goods, labour & financial capital markets. Imagine what the economy would be like if all payments had to be made in cash or bitcoin.

21. Keep that image in mind when you hear the Pied Piper tune of putting banking into the hands of the people. The CPC is the home base for a) Christian Dominionists, who advocate for less freedom of choice & for b) Libertarians, who advocate govt should have less control cont'd

22. over people and more free choice, as well as for c) for believers in debunked Trickle-down Economics & for d) believers in Bitcoin crypto-currency as doomsday insurance. Know that PP is a right-libertarian, who supports free-market capitalism believing govt should cont'd

23. have little or no have little or no regulatory control over corporations. And #Bitcoin is seen by many libertarians like Pierre Poilievre as a kind of #doomsdayinsurance" a hedge against instability. Five myths about cryptocurrency brook.gs/34bAa3s via @BrookingsInst

@threadreaderapp please "unroll" this thread.

https://twitter.com/timethief/status/1523793014505713664

https://twitter.com/timethief/status/1523793014505713664

https://twitter.com/timethief/status/1523799355135643648

https://twitter.com/timethief/status/1523800042376622080

@threaderedrapp please "unroll" thread with additions

a) Moreover, #rightwingextremisim ie. #fascism is a threat to our Canadian democracy and the support for the same was demonstrated by some CPC MPs during the #FreedomConvoy during the #OttawaOcupation.

https://twitter.com/timethief/status/1494867934484709380

b) The desecration of our flag during the #FreedomConvoy and the hateful Nazi depiction of our Prime Minister on signage means understanding the meaning of #hatesymbols and #hatememes has become important to Canadians as well.

https://twitter.com/quintal_etienne/status/1517896564840222721

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