Ron Butler Profile picture
Dec 23 6 tweets 2 min read Read on X
The Prime Minister Must Go But So Far He Won't: He Puts Himself Above His Country

I am old & I have NEVER seen a Canadian Prime Minister cling to the job in the face of an overwhelming need to step down in my life

Never before have I seen all these reasons to leave

2/
- All 3 Opposition Parties agreeing to Vote Non-Confidence & bring down the Government
- So Many Ministers have quit
- So incredibly low in the Polls
- His own Party hiring lawyers to figure out how to remove him
- So many members of his own caucus voting for him to leave

3/
I have never in my life seen anyone cling to power in Canada when Canada wants him gone

The fact he hasn't resigned or at least set a date for Liberal Party Convention & suspended Parliament is absolutely unacceptable

Consider how much his inaction is harming Canada

4/
All the Government staff people in Ottawa who are political appointments (there are thousands of them) know they are finished

Naturally they're spending their time looking for new jobs

The Civil Servants who work on policy know have no reason to work: the laws won't pass

5/
And on January 20th the Trump Tariffs may come into effect, certainly some version of the 25% Tariffs even if it's selective will begin

And we won't have a strong, effective Prime Minister to manage the biggest potential trade / economic disaster in Canadian history

6/
All to satisfy one man's ego & one woman's (Katie Telford) desire to keep her PM in power

In all my 67 years I have never seen such a horrible example of a man putting himself ahead of his country

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More from @ronmortgageguy

Dec 16
A Government In Chaos: The Wheels Fall Off In Ottawa

Freedland RESIGNS
Fraser RESIGNS

WTF is happening?

It's obvious that when the Prime Minister started calling his Ministers late last week about a proposed Cabinet Shuffle a couple of them told him to fck himself

2/
And why wouldn't they? The Prime Minister is running some of the highest negative impressions in the history of the polling industry

The polls also indicate his party would lose at least 115 seats if an election were called today & would likely be third behind the BQ & NDP

3/
And his own party is so tired of him

An endless series of party organizers & operators beg him to quit

His own former Finance Minister called his most recent policy ideas "Gimmicks"

It is hard to imagine how much more chaotic & flailing this Ottawa disaster can get

4/
Read 5 tweets
Dec 15
What's A "Low Knowledge Voter"? It's Everyone That Doesn't Vote For Leftest Candidates

I just read a post that everyone who voted for the Ford Brothers in all their different elections was a Low Knowledge Voter

Same for all Trump Voters, all Poilievre Voters

Low Knowledge

2/
High Knowledge, well educated voters would NEVER vote for those candidates

Almost all leftist politicians & their political operatives deeply believe this

It's not a mean spirited, arrogant attitude, it's sincere

Leftists believe voting for other than Leftist Candidates

3/
Is just a failure to be wiser, better educated & more aware of the truth as they perceive it

And that's fine actually, the beauty of a Free Democratic country is believing whatever you want

What's happening today with more & more people in democracies all over the world

4/
Read 6 tweets
Dec 12
Just How Bad Could Residential Construction Starts Get In Ontario Next Year? REALLY BAD

The simple facts are that Hi-Rise Construction which has been 80% of all new Construction in Ontario since 2018 has effectively halted

There are still cranes in the air in the GTA

2/
But those cranes are FINISHING projects that started years ago

The GTA has led the North American Construction Crane list & often had more cranes than the next 5 cities COMBINED

In a few more years that will be over

There's just no business case to build Condo Towers today

3/
The Investment Condo Market is in a state of disaster

As many as 100K New Condo Units reach completion in Southern Ontario in the next 30 months

And the Investment math of those units is destroyed

Sure, a small number of Buildings were designed to be owner occupied

4/
Read 6 tweets
Dec 11
50 BPS RATE CUT!!

The Bank Of Canada says it loud & clear: The Canadian economy is in trouble

There is no clearer message a Central Banker like Tiff Macklem can send that the Bank's view of Canada's Economy is entirely negative as a 50 BPS cut

The new rate is 3.25%

2/
Which is awfully close to most Economist's original suggestion of a 3% rate when the cuts started over 6 months ago

What happens next?

Because all the parsing of every boring word at today's BoC news conference is pointless

No matter how much analysts love to study it

3/
It's meaningless now

The correct approach is to think about the next moves which will be driven by EVENTS

One event just happened

The US inflation numbers came in with zero upward movement which sets the stage for the US Federal Reserve to cut their rate 25 BPS

4/
Read 6 tweets
Dec 10
Rate Cut Tomorrow: May Be 50 BPS May Be 25 BPS But Does It Really Matter?

Because if it's only 25 BPS tomorrow it will be 50 BPS on January 29th

The path for Tiff Macklem & the Bank of Canada is clear: Get to a 2.5% Rate by late Spring

The cuts must happen & they will

2/
But...... THE CURRENCY!!!

Yeah, I've been hearing about the Canadian Dollar's slump against USD for over a year now

And the Canadian Dollar IS down against the American

So is almost every other currency in the world

Will the fall of the Dollar reignite inflation?

3/
Maybe, we are going to find out

But let me tell you an ABSOLUTE CERTAINTY

The Canadian Economy is in a tailspin, a Recession lead by Ontario is well underway, it will gradually spread across Canada to different degrees in different Provinces

And Tiff Macklem knows it

4/
Read 6 tweets
Dec 6
Lousy Employment News = Good Mortgage Rate News But The Future Of Canada's Private Sector Economy Looks Awful

The Unemployment Rate in Canada rose to 6.8% sending 5 - Yr Canada Bonds down (over 40 BPS drop in 10 days)

Will the Bank of Canada cut 50 BPS next Wednesday?

2/
It's more likely a 25 BPS cut but this reality of crappy Private Sector Canadian economy is really getting locked in

The combination of record breaking Immigration & massive Public Sector job growth that has distorted the Canadian economy for 3 years has run its course

3/
All of the crap policies that various levels of Government have developed have finally sunk Canada

- Destroy Canada's Energy Industry
- Destroy Mineral Extraction
- Add endless new Regulations
- Totally foolish Housing Initiatives
- Endless Deficit Spending & Money Printing

4/
Read 6 tweets

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