Friday, April 29, 2011

On consistency

Jim Flaherty, speaking as Canada's Minister of Finance, declares that low interest rates are to be preferred, or that interest rates have nowhere to go but up. Response from commentators to the fact that a politician is commenting on the Bank of Canada's monetary policy: zero.

Jack Layton, speaking as a leader in an election campaign, suggests that interest rates ought to stay low while confirming that he won't interfere with the Bank of Canada's discretion. Response from commentators: "ZOMG!!! THE SKY IS FALLING!!! THE SKY IS FALLING!!! GET THE SHOTGUN SHELLS AND EMERGENCY RATIONS AND MEET ME IN THE DIEFENBUNKER!!!".

Not that we should expect anything different.

[Edit: fixed label.]

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