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Follow The Fall Of The Canadian Government Live
The no confidence vote in Prime Minister Stephen Harper's Canadian government is expected to start momentarily. Just like two days ago when Portugal fell, this event will likely be seen as a buying opportunity of both the USDCAD and the CADUSD. After all - there are trillions in excess liquidity sloshing around which must be put to use even if in mutually offsetting trades. Follow the event live at the following webcast from CTV.
As a reminder, from CBC.CA, here is what is going on in the northern neighbor.
The federal government is expected to fall from power Friday afternoon, with opposition MPs saying they'll vote to show they've lost confidence in the Conservatives.
The Liberal Party gave notice earlier this week they'll put forward a motion of non-confidence in Prime Minister Stephen Harper and his government. If it passes, the government will fall and Canadians will head to the polls.
The motion says the House agrees with a committee report tabled earlier this week that found the government in contempt of Parliament, "which is unprecedented in Canadian parliamentary history, and consequently the House has lost confidence in the Government."
It comes after Liberal Leader Michael Ignatieff, NDP Leader Jack Layton and Bloc Québécois Leader Gilles Duceppe said their parties wouldn't vote in favour of the federal budget tabled Tuesday. The government can fall if they lose either vote.
Ignatieff will kick off the debate on the motion at 10 a.m. The NDP hasn’t decided yet whether Layton will speak to the motion, although Layton and Duceppe said Wednesday their parties would vote with the Liberals on their motion.
The vote is expected to come around 1:30 p.m. ET. If the government loses the vote, Harper will go to Gov. Gen. David Johnston some time over the weekend to ask him to dissolve Canada's 40th Parliament, something that’s expected to happen Saturday morning.
Just before the vote, the procedure and House affairs committee is scheduled to meet behind closed doors from 12 to 1 p.m. They're debating whether to find International Cooperation Minister Bev Oda in contempt of Parliament after she couldn't explain how the word "not" ended up on a funding recommendation from her agency's staff. The committee is supposed to report back by Friday, but debate on whether the House agrees with the report wouldn't come for at least two business days.
Earlier this week, the procedure and House affairs committee tabled a report that said the government is in contempt of Parliament for refusing to supply enough information on the cost of the F-35 fighter jets, their justice system reforms and their projections for corporate profits and tax rates. The Conservative MPs on the committee attached a dissenting minority report. Debate on that report has started, but the Conservatives control when it will continue. They have until Wednesday to allow debate to finish, and can put off the vote on the report until the following Wednesday.
All four parties in the House have engaged in procedural wrangling as they march closer to voting on a confidence motion that could bring down the government.
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Leo...wats this?
WTF, we were supposed to annex Canada for all the good they will bring to the US. /sarc
In order to ensure that the CDN did not skyrocket relative to the USD the Canadian Gov't became one of the world's biggest subprime lenders AFTER the US housing bubble had burst. Canada WAS in a very strong financial position at that time, but gov't policy was actually designed to undermine the strength of the economy, hence the currency.
It really is criminal, and the only ones who benefit are Multinationals buying Canadian commodities.
Check out the latest from the Capital Research Institute (based in Canada!) "The Day The Standards Died":
http://www.capitalresearchinstitute.org
We have spent a lot of time discussing the Gold standard and what it means to have the world reserve currency here at the Capital Research Institute. But today we want to look at something a little different, but just as crucial: the importance of accounting standards. OK, OK, I am hearing the yawns already, just bear with me! When the Financial Crisis hit in late 2008 not only did Capitalism die, when the Government decided bankrupt firms (of their choosing) should no longer be exposed to the risk of failure! The history books are going to be speechless on that one, and will simple relate: “It seemed like a good idea at the time!?!?” But what may have slipped under a lot of (non-accounting) people’s noses was that accounting standards were also effectively removed at that time. The most important of which were mark-to-market accounting rules.
more importantly
Canadian general to take NATO command of Libyahttp://www.forbes.com/feeds/ap/2011/03/25/general-cn-canada-libya-nato_8...
(I thought canucks were a peace loving bunch)
"Canadian general to take NATO command of Libya"
That's what happens when the commander in thief can't find a way into his own house.
it's just a middle management position. that brigadier general isn't commanding anything.
Yeah, I know. I just can't help but reference Obummer trying to get into the house. So funny. I think someone was effing with him. Probably his kids. Or Joe.
He's what's known as a fire break.
I do hope Canada's participation in this "not a war" does become an election issue - ridiculous that we signed up for this with no discussion at all.
I hope he fares better than the last Canadian who was put in charge and then hung out to dry. Roméo Antonius Dallaire was the poor chap that got stuck with Rwanda. That didn't turn out to well.
It's a buying opportunity for Chinese solars
BTFD
Loss of confidence bitchezz
Seriously, that's a man in that screenshot above, right? I can see the adams apple i sh*t you not.
looks like what's her face from CNBS carusso cabanera
I was wondering who would pick that up. Yeah, it is important be able to identify your ladyboys when bar-hopping in Canada.
+1. Yes, also the bone structure. This is a man (or was a man).
Strong words for a non-event.
The US gov sure didn't fail despite numerous marches, tea parties, Ron Pauls, etc. Am i biased, sure maybe a bit. Im also realistic though, as much as the current gov sucks, it won't get any better soon.
x2...isnt it like the 5th time the liberals pull this shit, just a huge waste of time
CANADA'S GOT OIL ... INVADE, INVADE!
Or at least a No-Fly zone!
forget oil, canada has righteous salmon. wild, no coloring added. LAUNCH!
Yeh, they had clean water befo yo USA polutshun came over the Falls.
Oh, shit. Really, we ruined Canadian Salmon? Ok, who's got good salmon...Alaska! Hurry up and get that Palin woman in office so we can invade Alaska. Palin can call the shots from her bedroom window. Kill two birds and keep an eye on Putin, too. I'm looking for a position as a strategist, btw.
Don't forget about Arctic Char.
We'll take the Char!!
Finally
Vote's taking place at 2 EST. Set your clock. I've bought some VIX calls. Bring on the volatility.
One step closer in forming NAU.
This is George Bushs' fault
-Nancy Pelosi
Not another one! Will someone please slow this merry-go-round down a bit. I want to get off and colonize some tropical world off planet. Perhaps I can use some of that excess hydrogen being produced by the Fukushima disaster to achieve escape velocity.
When does America get a chance to have a "no confidence vote"? I feel left out. Why is it that every other country seems capable of tossing out corrupt politicians and we can't. I'm like TOTALLY jealous:-(
Yeah. Why do they get all the fun?
However my mother always reminded me that the grass is always greener........ :>)
Bet she would never realize that in the land of Iceland, the grass is indeed greener.
from personal experience I can say that greener grass is always better...especially if the buds are well formed with a slight hint of red/orange hairs...
Don't bogart that joint my friend. Pass it over to me.
http://www.youtube.com/watch?v=EvGJvzwKqg0
LOL!!!! oh the memories associated with those words.
We could try and bid Discovery now that it is retired. The cargo area should be enough for the gold/silver bars :)
LOL
Who invited you? Unless you're a hot young blond who loves older balding men, this old fart's fantasy is closed to newcomers. :>)
ah fuck, a bid war for the only available space ship... What is another bubble?
Good point. OK, let's pool resources and dump this place. But don't tell anyone else. :>)
Is this the asshole that decided to tax the energy trusts after campaigning on a promise not to, and wiped out $100K of my wealth in a day?
Fool me once, shame on you. Fool me twice, shame on me.
Because it's classic.
http://www.youtube.com/watch?v=eKgPY1adc0A
Agreed, it was a classic.
Confirmed: Horatio Beanblower is not a lurking George Bush, Jr.
;-)
It's not real wealth until you convert it from the ether...
do they need a new goobermint to "merge" w/ us? go long the amero? why tf isn't the amero being traded, anyhow? it's imaginary? so what? if the banks can do it, why not the currencies?
with Gilles Duceppe on his ass, Stephen Harper is t-o-a-s-t!
Viva le Quebec libre`
where the fuck did this come from?
The Black Swan factory of the IMF and World Bank.
it's been brewing for a week or so now.
holy crap.. I go binary deep into my code for a few days and Canada tanks. Never saw that one coming..
this is not as big an event as it sounds. It's been years and years of minority governments with the constant threat of non-confidence votes and several elections (only to see a minority government in place each time). Side show.
The benefit of a multi-party, parliamentary system... the House (of Commons) may take any government down with a simple majority non confidence vote (not the insane 60% required to even pass a bill in a two party Senate). In five weeks (and only a few million $s) they have a new government (House), and likely a new Prime Minister... a democracy with an option on gridlock!
Canada: Americas Toupee. WTF is going on up there eh?
And when do we get to vote 'no confidence' in the US?
You can vote with every Fed note by exchanging them for PMs.
Then there's always NOTA.
Nigel Farage's latest musings...
Nigel Farage: 'Bombings, bailouts - what on earth are we doing?' - http://www.youtube.com/watch?v=AqKdDNM7jpQ&feature=feeduMy government is falling?! Fuck, this is what happens when you go out to get more coffee.
Relax folks, it's all part of the parliamentary system. We've been stuck with this douchebag Harper forever, but the only alternative is other politicians (douchebags).
Ignatief is a fucking idiot! This guy has caused more trouble than any other opposition leader in Canadian history.Lets get this vote over with and kick him out for good. http://www.canadafreepress.com/index.php/article/7495
And Harper is a corporatist... a bit more dangerous me thinks.
Ignatief will never get elected, he has about as much personality as...Stephane Dion!
....but seriously, they're all fucking douchebags.
This could even blowup in Ignatief's face, since the Conservatives are ahead in the polls. Imagine Harper with a majority! Fuck me.
Pick the douchebag that will do the least amount of damage.
the goobermint that goobers least is the goobermint that gooberz best!
long live QEII!
get Leo Kockupalotis in, he'll sort this Canadian shit out with his well-worn management winning mantras; centralise, monopolise, legislate, regulate, reward crones with higher defined benefits and triple the pensions by increasing taxes on the private sector.
Nothing works like lots more red tape and a lot less free market eh Leo?
harper's another shameless zionist joo toad, good riddance,
http://www.henrymakow.com/stephen_harper_christians_zion.html
More alarmist garbage from ZH! If you know anything about the parlimentary system you know this is purely a political. Conservatives form a minority government. This kind of stuff happens all the time and means nothing.
Canada has never had a non-confidence vote based on "contempt of parliament" (by Harper) in the history of the country... hardly a non event.
Canada is rejecting corporatist conservatism (Harper and his cronies)... and they have power to do so (unlike the bought and paid for US government... on both sides). Yes, in Canada when they say "throw the bums out" they can actually do it... real democracy at work.
"real democracy at work"... Canada?!! ....democracy doesn't work anywhere (look around the world right now) and never has, never will ..because Gov is a monopoly power structure, not a competitive one ..whichever muppet you put up there only faces competition every 4 years come election time whereas a private company can get 'turned over' and sent packing every day by the consumer ...Govt is a bankrupt system (un-responsive, monopolistic, un-democratic, slothful, dumb, corrupt, wealth destroying and delivers crap whatever it does)
even at the best of times Govt delivers the worst of times. As a means for delivering democracy there's not a snowball in Hells chance with this monopoly structure designed for a mass of people to vote (how novel!) every 4 years. You'd design a free market model that gives power to the people 24/7. So Govt is truly a crap model and another shit liberal idea and in practice nothing but a colossal parasite on society
Canada is rejecting nothing. The underlying mechanism of theft (currency system) survives all the changes in window dressing. Canada is bought and paid for just like every other country.
I am from one of the 2 have provinces in the country. If you want Jack Layton to lead this country in conjunction with a separatist party that won't swear allegiance to the flag, then you can have it.
We will take our province, corporate conservatism, and our single supreme court seat and leave. Thanks.
I wish the US had a parliamentary form of government becuase things we would be a lot different. We wouldn'r be able to bash the Italians for changing goevernment leadership so often. In fact Odumma would be standing in front of the parliament at this moment getting jeered and laughed at.
It's more exciting at least. You treat the president like he's the pope or something, all this respect and decorum.. in parliament the Prime Minister stands with everyone and gets the jeers!
good for you, doc! i haven't been able to take my eyes off that ass for 2 days!
The balkanization of Canada has been set in motion. When the sheeple find out they have been chernobyled, there will be blood in the streets.
The only thing balkan around here is my yogurt. I'm betting this will end up being a non event.
Annnnd cue loon calling video...
Canada has the population.. in total... of California.. big, huge land mass with no one living there..
It's kinda nice.
Minus the accent, of course. Why every sentence must sound like a question, I will never know (nor be able to stand).
..and here I thought the world's most annoying accent was the women from New Jersey.
annoying in a different sort of way, I suppose. The whole voice inflection going up at the end of every sentence is maddening to me for some reason. Maybe it's just because I hate people... if weren't one thing, it would be another :-). By the way... I love your handle... I chase my son around the house saying, "evil Dr. Porkchop... wha-ha-ha" daily. Sometimes I'm Xurg, but usually Dr. Porkchop.
Yo dick weed - is this clear enough for ya.
fuckin moron , there's a reason your fag army doesn't invade us. They tried and we completely kicked their ferry asses. The only fuckin pimple left after we were done was your hooker mother.
There is a saying in the US army, you gotta fucking crazy to fight a Canadian. In fact in war games last year the women you call men in yoru army were begging for fuckin mercy.
Bring it on zit head. Come on up we'll show what they are worried about. The reason you have technological weapons is because your pussy army are butt plugging each other while pressing the easy button.
next
The accent of which you speak is not typical, but is a caricature that many Americans seem to want to think is typical. Sort of equivalent to thinking all Americans sound like Jethro Bodine ... or George W. Bush.
Whycome we cain't vote no confidentials and boot them bums out, dadgummit!?
Americans wear their ignorance of other peoples like a badge of honour. And then, when they travel abroad, try to pass themselves off as Canadians.
I grew up in Michigan... and have lived and worked with Canadians my whole life. The company I work for now acquired a Canadian company 2 years ago... of course what I say is a bit of a generalization... but is far from unfounded. Perhaps this is an Ontario thing and not a Canadian thing... but the voice inflection going up at the end of sentences... sorry... a very real phenomenon.
80% of the Canadian population lives within 100miles of the US border. Standing on guard and waiting to serve thee.
Canada / US Secret Cross Border Military Deal http://www.canada.com/topics/news/story.html?id=403d90d6-7a61-41ac-8cef-902a1d14879d&k=14984
"Canada has the population.. in total... of California.. big, huge land mass with no one living there.."
Leo can be our leader. "Leo the Leader" has a nice ring to it. Not too authoritarian. i could get behind this.
OT: I suggested on an earlier thread that members of ZH and their affiliates send a fruit basket to a person of interest, all coordinated to send on the same day. Bernanke comes to mind, since he is so close to "mission accomplished". A way of saying thank you. Thoughts? I currently have a commitment from myself and snowball777.
I am in on whatever ya'll wanna do! count me in, I volunteer and I wanna do anything, everything and all of it!
I am right now pushing for a local civil rights case, that I would like to see go class action.. and I am spending some time on twitter as of late trying to drum up some support for us here..
Other than watch the Lobby Whores get richer and the poor get poorer / watch Rome Burn.. what else is there? until the populace as a majority gets to feel some hunger pains.. nothing will change, but might as well have some fun in spite of the ocean of ignorannce we swim in, right?
Sorry, venting! yes! I am a fruit, basket, crazy.. yes I want to do whatever!count me in!
Awesome. I'm thinking some formal way of tracking those who would like to participate in this "thank you" gesture. Perhaps Tyler could throw up a thread entitled "say thank you with fruit" or something and that would be the launching point. Tyler? "Say thank you...with fruit"??
Is there anything really wrong with sending fruit? For those who are concerned about "exposure" perhaps we could run it through a pay pal donation to ZH in conjunction with a company who does fruit o' grams, and have a portion of the proceeds go back to ZH. It's a win-win, people.
CREDIBLE ACTION ALERT!!
I'm sorry guys. Can somebody explain this to me? How can it be both a time to buy USDCAD and CADUSD? My broker doesn't even have CADUSD. Please don't laugh.
Thanks in advance.
Typo AUDUSD obviously. Perfect absoluto tick by tick with stockmarket and perfect tool for the chairsatan the AUD is.
Nobody here worried about the Canadian miners?
Maybe they could elect "Rush of the north" Don Cherry. He knows all. Just ask him, He'll set you straight.
LOL.. fill out a ballot at your participating Tim Horton's.
Motion carried/Canadian conservative govt defeated.
Elections to be held Monday, May 2nd.
long live Gilles Duceppe!
Free Tibet!!!
This is typical Canadian politicking, where the three left wing parties can't get their act together, but we don't trust harper enough to give him a majority so this shit happens. Not that exciting, though the specific circumstances that triggered the no confidence vote are unusual.
The latest polls:
A new poll suggests the Conservatives hold a commanding lead in public support heading into the campaign. The Conservatives command 43 per cent support among decided voters, putting them well within reach of a majority, according to an Ipsos Reid commissioned by Postmedia News and Global National. The Liberals registered 24 per cent support, the NDP are at 16 per cent, the Bloc at 10 per cent, and the Green Party at six per cent.
These numbers suggest that Harper's Raiders may have orchestrated this whole scenario (or at least pressed it to the limits as it arose) to take another shot at winning a majority. I don't know what Iggy is thinking. He's toast. Maybe he just wants to get it over with and let the Libs see if they can find a leader that can be a viable alternative.
Don't worry, Yanks, it's all part of the cut and thrust of Parlimentary Govt. What were ya'll thinking when Gordon Brown was being dumped in the UK? It was The Wars of the Roses or something?
How did the rest of those Harvard elites do running Wall St? Iggy probably still has tenure there..so come up to Canada, try to get a leadership post by locking arms with the separatist party...if it doesn't work back to Harvard. Pretty nice gig.
Here we go again. Tyler does have a way of making it sound so cool though. And I thought all the interesting stuff happened in other countries. Now I have to endure listening to the CBC navel gazing at our own shitty political scene. Not a single soul at work even mentioned this vote. Ho hum.
ya honestly this is such a non-event, btw is there a zero hedge equivalent of sorts to follow the canadian markets and economy?
I've been poking around for the same. Not much out there aside from Leo and Garth.
Agreed. A few bloggers (interim) and bnn and that is all I have found. The Financial Post sucks (I can't believe how many articles they lift from businessinsider) except for the occasional Rosenberg article. Though they did have that fantasy stock game a year or two ago - that was fun.
.*
More of the same here in Canada. I wrote somewhere else that this was a smart move by the Conservatives who see a small window of opportunity to gain a majority and decided to present a budget that they knew would not get approved by the other parties. They also know that the Liberals are weak now (no money) and that their leader isn't widely popular. But there was a discussion yesterday of a coalition gvt between the Bloc, Liberals and the NDP. Who knows what will happen. This election period is short (5 weeks) so we'll find out soon enough. All I know is that Canadians are seriously fed up of spending millions for elections. The folks in Ottawa need to get on with governing our country. One word of advice to whoever wins the elections, stop centralizing and vetting everything through Ottawa. Give your regions more autonomy and trust them!