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Jim Flaherty, Canada's Former Finance Minister, Has Died

Tyler Durden's picture




 

It was less than a month ago that we reported on the surprise resignation of Canada's finance minister which while officially attributed to a wish to begin "another chapter" in his life, we said "there is rife speculation that it was indeed his health that was the reason for this unexpected resignation." Sadly, today it was proven that it was indeed Flaherty's health that had forced this surprising decision, following news that the former finance minister has passed away.

 

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Thu, 04/10/2014 - 14:40 | 4644256 Pladizow
Pladizow's picture

Im sooooooo Sad, Eh!

Biggest SARC Ever!!!!

Thu, 04/10/2014 - 14:53 | 4644340 Skateboarder
Skateboarder's picture

World crude death rate: 8.3 per 1000 per year = 58,100,000 per year for a population of 7 billion.

That means ~160K people die every day. This guy is another one of them.

The end.

Thu, 04/10/2014 - 15:05 | 4644387 cifo
cifo's picture

He was one of the few men I trully respected. RIP.

Thu, 04/10/2014 - 15:11 | 4644416 Algosaurus Rex
Algosaurus Rex's picture

Never trusted him (or Harper) after the income trust fiasco...

Thu, 04/10/2014 - 15:14 | 4644438 Looney
Looney's picture

Would a NAILGUN be considered as "natural causes" ? ;-)

Looney

Thu, 04/10/2014 - 15:22 | 4644499 Mark Carney
Mark Carney's picture

He was a good man, one of few.

Thu, 04/10/2014 - 16:10 | 4644679 alangreedspank
alangreedspank's picture

Of course that had to come from Mark fuckin' Carney LOL.

Thu, 04/10/2014 - 19:30 | 4645537 TheReplacement
TheReplacement's picture

I don't always see you post but when I do, I give you an up vote.  Funniest avatar ever.

Thu, 04/10/2014 - 20:37 | 4645747 alangreedspank
alangreedspank's picture

Hypnotizing to say the least! :)

Thu, 04/10/2014 - 15:20 | 4644477 aVileRat
aVileRat's picture

Trusts were being abused, tax leaks aside they were the proto irish double tax gimmick. If they had not been killed it, then the economy would have been perverted further into a warped Irish bubble (and Canada would have looked much similar to Ira & Spain). Anyone who is sour grapes over the loss of one (!) of the many ways to make a cash on cash yield vehicle is just talking their book and is willing to overlook the obvious governance & model issues with TrustCo's (SIFT-double shield/management co models) for weaksauce 5 to 9% yields on badly constructed promote shells.

Faux commentary is to be expected, but as a point to note; he really did fight the fed non-stop for 9 years. He also actively lobbied for breakup of banking cartels & was a cockblock for foreign takeovers of bank assets by leveraged US peers. He also believed in hard physical settlements vs. more ABCP/subprime trade gimmicks.

So... with that in mind, he was a good friend to the Fight Club. Even if he did not post much in last 2 years.

 

Thu, 04/10/2014 - 15:27 | 4644528 DDDingo
DDDingo's picture

Amen brother.

Thu, 04/10/2014 - 16:12 | 4644689 alangreedspank
alangreedspank's picture

He did dare to speak about a housing bubble when it was too late to do anything about it. That's more than most pols dared to do.

Thu, 04/10/2014 - 17:31 | 4644994 Algosaurus Rex
Algosaurus Rex's picture

Debating appropriate policy is one thing. Blatant lying and shameful politics are entirely another.

https://www.youtube.com/watch?v=2qvKZO0d0Ps

Thu, 04/10/2014 - 17:03 | 4644900 emersonreturn
emersonreturn's picture

+1000 algoRex

Thu, 04/10/2014 - 15:05 | 4644388 foodstampbarry
foodstampbarry's picture

Douche

Thu, 04/10/2014 - 14:32 | 4644259 youngman
youngman's picture

Why not just say it then.....why hide behind another chapter in your life...

Thu, 04/10/2014 - 14:38 | 4644277 Pladizow
Pladizow's picture

Politicians and Bankers are liars to the END!

Thu, 04/10/2014 - 14:53 | 4644337 CharlieMike
CharlieMike's picture

Well, atleast he wasn't a squid.

Where is fukmeister to tell us how much better canada would have been if he were enriching all his buddies at the expense of the candaian tax payers?

Thu, 04/10/2014 - 14:38 | 4644281 seek
seek's picture

When you have a month to live, the last thing you want is to be reminded by the press about it on a daily basis.

Thu, 04/10/2014 - 14:49 | 4644316 nuclearsquid
nuclearsquid's picture

how long does polonium take to do its work?

 

Thu, 04/10/2014 - 14:45 | 4644294 Village Idiot
Village Idiot's picture

Death could be construed as another chapter.  A very short one.  Or long, depending on one's belief in a god.  Yeah, short chapter...

Thu, 04/10/2014 - 15:28 | 4644536 Intoxicologist
Intoxicologist's picture

"The End."

Thu, 04/10/2014 - 15:37 | 4644563 blackbeardz
blackbeardz's picture

one can hope and pray there beliefs in afterlife are correct, I hope & pray that what happens after has nothing to do with those beleifs.

http://famouspoetsandpoems.com/poets/mary_oliver/poems/15793

When Death Comes by Mary Oliver

...When it's over, I want to say all my life
I was a bride married to amazement.
I was the bridegroom, taking the world into my arms.

When it's over, I don't want to wonder
if I have made of my life something particular, and real.

I don't want to find myself sighing and frightened,
or full of argument.

I don't want to end up simply having visited this world.

 

Thu, 04/10/2014 - 15:03 | 4644375 GooseShtepping Moron
GooseShtepping Moron's picture

Well, to be technical about it, and pace what the Tylers wrote in the OP, the fact that he passed away shortly after retiring does not in fact prove that his decision was based on health reasons. That is a case of affirming the consequent, a post hoc ergo propter hoc fallacy. It does however provide strong inductive evidence for the claim that health reasons led him to retire; and in ordinary life people usually have no trouble proceeding on the basis of such inductive evidence, so we don't often fault people for reasoning like this. It renders the opinion probable and a probable opinion may be followed. We just have to recognize that in order to make the argument formally valid, one additional premise is needed. We would have to know what Mr. Flaherty knew about his health, and how that factor weighted in his decision making process.

The upshot of all this is that it is possible Mr. Flaherty retired for reasons altogether unrelated to health and that his death shortly thereafter was just a coincidence. This is consistent with his statement, and is one possible explanation thereof.

It is also possible that he was just dissembling in order to avoid making a private health concern into a public spectacle. Public opinion seems to favor the latter explanation in these circumstances.

Thu, 04/10/2014 - 18:43 | 4645344 SilverIsKing
SilverIsKing's picture

After he retired, he lost his health coverage and died trying to figure out how to sign up for Obamacare.

Thu, 04/10/2014 - 21:05 | 4645804 zerohedgejjxxzz12
zerohedgejjxxzz12's picture

Canadian Politicians have what the news called a Platinum Pension Plan they pay a meesly $12/ month for coverage, If I remember correctly.

 

Thu, 04/10/2014 - 14:35 | 4644264 lolmao500
lolmao500's picture

Pro-bank bailout, pro-housing bubble, pro-GM bailout, pro-Ukraine bailout finance minister... yeah fuck him, eh.

Thu, 04/10/2014 - 15:03 | 4644356 ChanceIs
ChanceIs's picture

He did something especially totalitarian back in the '05 timeframe which handed me a pile of losses.  You would think I could remember.  I will get it in another 10 minutes.  Best I recall is that it had to do with the Canadian Royalty Trusts.  It might have been the tax exempt status of the royalty payments.  I think i had bought them on a dual currency/oil play.  They were going great until he did his socialist wealth seizure.

So yes - condolences to the family, but.....well......nah - I won't write it, but you know what I mean.

Edit:

Ah yes - here it is.  I will retract my earlier polity and say it....f*&k him.  Cost me big time.  Lying prick.  Glad I remembered it as well as I did w/o hitting the web first.

Saturday, March 17, 2007

Monday Mar 19: Judgment Day for CanRoys?

Ok, I may be exaggerating, but Monday is crucially important as it is when the Canadian parliament reconvenes and the budget is to be tabled. First a little background: last October, Finance Minister Jim Flaherty surprised investors (and contrary to campaign promises made by his party) by proposing a new 31.5% tax for Canadian Royalty Income Trusts (CanRoys). The ensuing loss of 20-30% in many CanRoys as well as Cdn $35 billion in total market capitalization has been dubbed the “Halloween Massacre”. Early this year, I wrote about political developments in Canada that may induce change in the tax proposal as it now stands. On Feb 28, The Finance Minister promised to include this legislation in the upcoming budget.

Thu, 04/10/2014 - 14:34 | 4644265 Canucklehead
Canucklehead's picture

Condolences to Jim's family, friends, and the people of Canada.

Thu, 04/10/2014 - 15:17 | 4644461 crazzziecanuck
crazzziecanuck's picture

I despised this whole government from the very start but I'm hard pressed to express now what I used to say about him all the time.

Thu, 04/10/2014 - 14:34 | 4644267 DownByTheRiver
DownByTheRiver's picture

Fuck him

Thu, 04/10/2014 - 15:06 | 4644390 medium giraffe
medium giraffe's picture

If you're quick he might still be warm.

Thu, 04/10/2014 - 15:30 | 4644543 DownByTheRiver
DownByTheRiver's picture

Harper beat me to the punch and I don't do sloppy seconds.

Fucking statists are out in full force today! Bring on the red, bitches. 

Thu, 04/10/2014 - 16:38 | 4644805 Jack Sheet
Jack Sheet's picture

succinctly stated.

Thu, 04/10/2014 - 14:35 | 4644268 NoDebt
NoDebt's picture

From the previous article last month:

"a noted deficit hawk and proponent of paying down government debt"

He was dead before he hit the floor (so to speak).

Thu, 04/10/2014 - 14:40 | 4644282 James_Cole
James_Cole's picture

Wth?? 

http://en.wikipedia.org/wiki/Canadian_public_debt

 

It surpassed $100 billion in 1981, $200 billion in 1985, $300 billion in 1988, $400 billion in 1992, and $500 billion in 1994. It peaked at $563 billion in 1997, before then declining to $458 billion by 2008.

With a recession, and an increase in federal spending from 2008, the federal debt grew by $5.8 billion in 2008-09 and is expected to grow by $55.9 billion in 2009-10. >>Large annual deficits since 2008 has Canadian debt surpassing the $600 billion mark by November 2012, making it larger than the 1997 peak.<<

 

Thu, 04/10/2014 - 15:31 | 4644545 Dubaibanker
Dubaibanker's picture

Dear James...Please refer below..

GDP of Canada

1981 USD 355bn

1985 - USD 477bn

1988 - USD 605bn

1994 - USD 747bn

1997 - USD 856bn

2008 - USD 1,424 bn

2012 - USD 1,777 bn

The GDP has grown 5 times while the debt which has grown by about 6 times between 1981 until 2012. I am pretty sure from US to Japan and to EU that the debt has grown much more during the same period versus the nominal GDP.

We should not look anything in absolute terms. While the debt may have risen but the prosperity in Canada has been well spread throughout the population. Aside from the completely insane and stupid separation of Quebec issue that arises about every decade, we do not hear nary a murmur from the Canadian fellows who keep on growing happily. It must be the Maple syrup....

Thu, 04/10/2014 - 15:57 | 4644586 James_Cole
James_Cole's picture

The GDP has grown 5 times while the debt which has grown by about 6 times between 1981 until 2012. 

Your point (though generally correct) is totally irrelevant to mine. 

http://jugglingdynamite.com/wp-content/uploads/2012/11/Cdn-debt_GDP-2012...

There's also this nifty little trick:

http://theeconomicanalyst.com/sites/default/files/article_inside/2011/07...

Which involves comrade Carney...

...and I didn't downvote you.

Fri, 04/11/2014 - 00:49 | 4646398 Dubaibanker
Dubaibanker's picture

Point taken. But don't you believe that with the entire world on this massive QE binge, Canada also would have had to do some mini stimuluses perhaps stealthily? After all, they are one of the rare countries, perhaps the only one, with no declines in real estate prices thus far, banks are doing phenomenally well and have expanded robustly into US in the past 5 years and are now having more business and branches in US than in Canada, for example at TD and mostly also at RBC. Some car factories closed but immigration has been stable and tourism also is just fine.

Forget the downvotes, everyone has a right to a a opinion based on data, though most people here just talk stuff that does not contribute to each other, whether right or wrong.

Please also see the debt to GDP chart here: http://www.tradingeconomics.com/canada/government-debt-to-gdp. Do expand this to 15 or 20 years.

Although Canada is running a higher debt to GDP than 5 years ago, but it is far better than Japan, US, Portugal, Ireland, Italy, Singapore and the US. I am surprised at two countries, one is Russia at just around 8% and other is Singapore at 98%. With global trade slowing, Singapore will feel the heat being one of the largest ports globally and they already have inflation issues around real estate and unemployment etc.

I am reading these 2 articles that seem to be fascinating: http://www.wto.org/english/news_e/pres13_e/pr688_e.htm

http://www.un.org/en/development/desa/policy/wesp/wesp_current/2014Chap1...

I do believe with slowing global trade, economies are doing all they can for their own stability and self survival to increase consumption by Govt spending or whatever it takes which has caused increase in some debt in Canada. In countries like Canada and China, I do believe there is good debt, at least for now, since it is productive debt and helps the country remain growing, remain stable and has the capacity to be repaid in the near term. After all, the rating agencies have not yet downgraded Canada but they have downgraded all the countries who have larger debts than Canada that I mentioned above, with Singapore being an exception. And China, they have been upgrading since 2004.

Although a bit off topic, and this is with respect to China and its debt etc, I encourage you and others to have a look at a research note I prepared back in Oct 2013 that still remains pertinent and continues to play out as expected by me and some others.

http://www.slideshare.net/mnathani/understanding-the-coming-domination-o...

Thu, 04/10/2014 - 14:39 | 4644285 Two-bits
Two-bits's picture

"another chapter"

 

Yes NoDebt, you hit the nail on the head.

 

Hospice calls it "Transitioning".

 

Thu, 04/10/2014 - 14:45 | 4644292 Grande Tetons
Grande Tetons's picture

I can not speak for the man. However, he seemed like one of the good guys playing for a corrupt team.

 

Manulife Bank pulled its new discount mortgage rate off the market after hearing the federal finance minister was unhappy about it, both parties confirmed Tuesday.

The move led opposition critics in Ottawa to accuse federal finance minister Jim Flaherty of interfering in the free market and effectively boosting Canadians borrowing costs.

Flaherty, who has been concerned Canadian households’ record high debt levels, confirmed he was unhappy with Manulife’s rate cut.

“I had one of my staff call them and indicate my displeasure,” Flaherty told reporters in Ottawa.

Thu, 04/10/2014 - 14:35 | 4644269 sudzee
sudzee's picture

The Toronto Sun lists the article on Flaherty's death under " entertainment".

http://m.torontosun.com/2014/04/10/former-finance-minister-jim-flaherty-...

Thu, 04/10/2014 - 14:38 | 4644276 Dr. Richard Head
Dr. Richard Head's picture

Finally some truth in media?

Thu, 04/10/2014 - 14:38 | 4644280 fonzannoon
fonzannoon's picture

speaking of entertainment

http://www.cnbc.com/id/101573688

Thu, 04/10/2014 - 14:44 | 4644302 Dr. Engali
Dr. Engali's picture

I like Marc Faber....but.... I don't know what to say.

Thu, 04/10/2014 - 14:49 | 4644317 fonzannoon
fonzannoon's picture

my lord CNBC is talking about dividends like they just discovered a new livable planet full of oil and fresh water.

Thu, 04/10/2014 - 14:51 | 4644332 Dr. Engali
Dr. Engali's picture

That's scary.

Thu, 04/10/2014 - 14:36 | 4644271 QQQBall
QQQBall's picture

Anyone remember his lying relatde to the Canadian Trust - RIP you POS

Thu, 04/10/2014 - 14:40 | 4644283 oddjob
oddjob's picture

Yeah, I remember he closed the window for Americans collecting those income trust payouts with little or no tax, Good work Jim.

Thu, 04/10/2014 - 14:45 | 4644305 QQQBall
QQQBall's picture

Yeah, right after he said he wouldn't. Like I said - RIP you lying POS.

Thu, 04/10/2014 - 15:09 | 4644386 paint it red ca...
paint it red call it hell's picture

That's bullshit shill, valuations were impacted dramatically overnight and Canadian investors were furious. I paid a max 15% Canadian tax prior to dividends hitting my U.S. brokerage account, then paid federal tax on the earnings and then was on the hook for dividend gains within my state of residence. Let me repeat, Royalty Trust valuations were flushed for ALL trust investors OVERNIGHT........

Flaherty was the political face of the halloween flushing given to all holders of Canadian Royalty Trusts in a BAY STREET screwing. If I remember correctly trust holders including myself took a 35-50% bath overnight. Heaven fucking forbid any but insiders and gubermunt prosper from the resources sector in any country......

from Investopedia
"Income trusts, which were permitted to make distributions to unit holders on a pretax basis under old Canadian income tax laws, were a popular investment vehicle in the early 2000s, especially in Canada. The Canadian energy sector was hardest hit by the change, and suffered an estimated loss of about $35 billion to investors, giving rise to the term "massacre"."

Thu, 04/10/2014 - 15:14 | 4644437 oddjob
oddjob's picture

Encana shelved plans to convert to an income trust just weeks before, selling on that news would have been a good idea.

Thu, 04/10/2014 - 16:30 | 4644768 paint it red ca...
paint it red call it hell's picture

Like I said, a BAY STREET inside job........

Anybody needing a BAY STREET primer on it's historical criminal element should pick up a little kiss and tell book by Alex Doulis, 'Lost on Bay Street'.

Thu, 04/10/2014 - 18:11 | 4645176 oddjob
oddjob's picture

So knowing all that you know, and being so well read, you went ahead and invested on Bay Street anyway. Who's to blame there?

Thu, 04/10/2014 - 20:44 | 4645769 paint it red ca...
paint it red call it hell's picture

Lets just say the lesson on sociopaths was driven home by that little episode. Shame those of your ilk haven't the capacity to empathize at all with the rest of humanity.

Just a game with rules auctioned to the high bidder. Games won at the cost of anyone else, retirees, widows, orphans, nursing home residents as was the case of my parents whose diapers were bought on Royalty Trust dividends.

How did you spend that years bonus; vacation home, beemer, whores and coke, a little pedophilia maybe?

Thu, 04/10/2014 - 14:38 | 4644275 Bill of Rights
Thu, 04/10/2014 - 14:57 | 4644357 asscannon101
asscannon101's picture

Yee GADS!! Its The Cheshire Scat!!

Thu, 04/10/2014 - 14:40 | 4644290 Disenchanted
Disenchanted's picture

re: "a wish to begin "another chapter" in his life"

Obviously the last chapter...Did he jump off a building, then roll down an embankment all while shooting himself with a nailgun?

Thu, 04/10/2014 - 14:44 | 4644300 lolmao500
lolmao500's picture

Now if Geithner could do the same thing and DIAF already...

Thu, 04/10/2014 - 14:52 | 4644333 GolfHatesMe
GolfHatesMe's picture

Soros too

Thu, 04/10/2014 - 14:45 | 4644306 Bill of Rights
Bill of Rights's picture

U.S. March budget shrinks more than expected
| Reuters

The U.S. government last month posted a budget deficit of $37 billion, down from $107 billion in the same period last year, the U.S. Treasury Department said on Thursday.

Analysts polled by Reuters had expected a deficit of $78 billion.

The current deficit was affected by the monthly calendar timing. If adjustments were incorporated, Treasury said, the monthly deficit would have been $77 billion

Thu, 04/10/2014 - 14:47 | 4644311 lolmao500
lolmao500's picture

And even that 77 billion figure is probably BS.

Thu, 04/10/2014 - 14:48 | 4644312 WhoMe
WhoMe's picture

Under Jim Flahertys watch, Canada went both feet first into our current massive housing Bubble. He (the PC's) raised the debt limit of the CMHC multiple times(Canada's version of Fannie Mae/Freddie Mac) from a "manageable" level of a couple hundred Billion to the huge 600 Billion it is currently at. That would be equivelant to 6 Trillion if compared to the US GDP. He also bought back over 100 Billion of mortgages from Canadian banks which allowed them to lend mortgages with reckless abandon once again all insured by the CMHC aka the Canadian Tax payer. This massive Canadian housing bubble was being blown at the very same time that the US housing bubble was exploding and this made me very suspicious. Why was a Canadian Bubble manufactured at the very same time the US Bubble was imploding? Now today Canadian household debt makes US househo,d debt look like childs play. Again, why was this allowed under his watch?

Thu, 04/10/2014 - 14:50 | 4644325 Rising Sun
Rising Sun's picture

Shall we consider these your condolences?

Thu, 04/10/2014 - 15:06 | 4644391 walküre
walküre's picture

Well, his watch has ended and Canadians will never be able to point fingers and blame a dead man. Call me a sick, twisted bastard because that is exactly what I am. Otherwise, how does one survive in this world?

Thu, 04/10/2014 - 14:55 | 4644345 Fuh Querada
Fuh Querada's picture

Death is a bit like sex, except you can't have a pizza afterwards.

Thu, 04/10/2014 - 15:04 | 4644383 walküre
walküre's picture

You need to work on your dating skills

Thu, 04/10/2014 - 14:55 | 4644347 Philalethian
Philalethian's picture

Although it is sad when anyone dies, it is also not worthy of giving much more recognition to these criminals and corrupted politicians that pass on. What most people wonder about is, how long can the cheny, bush, brezinski, kissenger, sorros, dinosaurs continue on? Days to celebrate ahead that many hope to see when they make the crossover to those scales of justice (Ma-AT) they seem to have escaped on this side, but will NOT escape there.

Still, it is strange they outlive the good folks, and somehow continue in the world domination and constant world war for profits and racist population elimination agendas. In fact, any of the criminals or corrupted govt puppets that are involved in any kind of business that is hurting people, the environment, or the planet, are all guilty of racism.

Ponder that!

Thu, 04/10/2014 - 14:56 | 4644352 tony wilson
tony wilson's picture

 

Sadly, today it was proven that it was indeed Flaherty's health that had forced this surprising decision, following news that the former finance minister has passed away.

 

 

thanks for that it gave me a good ole chuckle.

this was not a rothschild thing taking out the trash no sir ree bob.

move along now.

 

Thu, 04/10/2014 - 15:09 | 4644402 Fuh Querada
Fuh Querada's picture

the avatar- Robert Shaw? or Michael Caine?

Thu, 04/10/2014 - 16:42 | 4644820 tony wilson
tony wilson's picture

a young rock hudson looking kind a like a young michael caine,robert shaw.peter otoole,albert finney,george lazenby : )

Thu, 04/10/2014 - 17:32 | 4645001 emersonreturn
emersonreturn's picture

tony, a young cary grant :)

Thu, 04/10/2014 - 14:58 | 4644361 yogibear
yogibear's picture

What, no nailgun?

Thu, 04/10/2014 - 14:58 | 4644362 bardot63
bardot63's picture

Nail gun?

Thu, 04/10/2014 - 15:04 | 4644385 ebworthen
ebworthen's picture

I'd guess prostate cancer.

Thu, 04/10/2014 - 16:01 | 4644643 walküre
walküre's picture

his rare skin disease was disclosed months ago

http://en.wikipedia.org/wiki/Bullous_pemphigoid

the treatment with heavy duty steroids killed him apparently

just shows what weird diseases are out there and that every day could either be your last or the beginning of your end

there's no escaping that for any of us

Thu, 04/10/2014 - 15:10 | 4644408 f16hoser
f16hoser's picture

Odious Mother-Fucker! Happy trails...

Thu, 04/10/2014 - 15:11 | 4644414 taketheredpill
taketheredpill's picture

He died of a broken heart because they didn't cut Corporate tax rates as much as he wanted.

Thu, 04/10/2014 - 17:47 | 4645070 robertocarlos
robertocarlos's picture

Dude, the corporate taz rate should be zero. They pass every dollar of it unto the consumer.

Thu, 04/10/2014 - 15:19 | 4644478 tony wilson
tony wilson's picture
The City" is an international financial oligarchy and is perhaps the most arbitrary and absolute form of government in the world. ... That the British people and the British Parliament have little to say in the foreign affairs of the British Empire.

 

 

 

 

The Empire of "The City": E. C. Knuth
Thu, 04/10/2014 - 15:39 | 4644573 tradingdaze
tradingdaze's picture

Condolences to Jim's family.

He guided Canada well through the 2008 financial collapse. Much better than the idiots south of the border.

They caused it.

Thu, 04/10/2014 - 15:46 | 4644595 JEHR
JEHR's picture

As a Canadian, I am here to tell you that Jim Flaherty was a good man (although a member of a bad political party).  I wrote him a number of letters and, first, he acknowledged by snail-mail or e-mail the receipt of the letter, and then, he sent either a snail-mail answer or an e-mail answer.  He explained clearly the financial decisions he made.  He is probably the only member of that party who deserves unfettered accolades.  When he disagreed with Harper about income-splitting for families with children, he was being an honourable man.  I respect him for the work that he did and for his being his own man:  one did not hear the ideology of Harper issuing from his mouth.

May he Rest in Peace.  We Canadian appreciate his hard work on our behalf!  We will miss him.

 

Thu, 04/10/2014 - 16:23 | 4644740 paint it red ca...
paint it red call it hell's picture

I am willing to bet many a Canadian fixed income investor has been wishing for nearly a decade for the opportunity to miss him.

Wish granted.

Thu, 04/10/2014 - 15:54 | 4644617 Manipulism
Manipulism's picture

silenced forever

Thu, 04/10/2014 - 16:05 | 4644655 bluskyes
bluskyes's picture

May the gates of Hell swing open, and her occupants greet him merrily.

Thu, 04/10/2014 - 16:17 | 4644715 paint it red ca...
paint it red call it hell's picture

May I add, "with Phallus in hand."

Thu, 04/10/2014 - 16:24 | 4644750 Let them eat iPads
Let them eat iPads's picture

Why couldn't it have been Harper instead?

Thu, 04/10/2014 - 16:28 | 4644762 J_jade
J_jade's picture

For all you who are sick of the Harper gov't, let me ask you this, do you really think that Trudeau will be any different.  The problem with Canada is the gov't runs too long with no term limits and after 12 years they become riddeled with scandals and leave hated. It happens everytime.  Frankly i'd rather see Harper continue then see that little faggot Trudeau go up.  Trudeau is little more then the Canadian version of Obama.

Thu, 04/10/2014 - 16:41 | 4644816 victor82
victor82's picture

Which, btw, is why Canadians will now get the Callow Young Lad:

He's easily manipulable, like Obama.

He's got a gift for gab, like Obama.

He's quite willing to be a stooge for the Banksters, like Obama.

Bay Street and Wall Street have obviously turned on Harper and are quite willing to put someone in the PM's office that they can more easily control, an ambitious, unprincipled little scrunt who is willing to sell his soul to the banks, suck Satan's cock, and do as he's told.

Just like Obama!

Thu, 04/10/2014 - 17:04 | 4644907 paint it red ca...
paint it red call it hell's picture

Even the lesser of two evils is evil just the same.

Thu, 04/10/2014 - 18:28 | 4645286 Radical Marijuana
Radical Marijuana's picture

Yeah, good cop vs. bad cop, but still both cops. The choice is tough, since the good cop shall probably betray worse in the end, while the bad cop is more obviously evil. As far as I can tell, the ONLY choice one ever gets in politics is between the lesser of evils. However, between the good cop vs. the bad cop, it is hard to tell which is which, since the good cop may end up a worse betrayer in the longer term.

Thu, 04/10/2014 - 17:40 | 4645028 emersonreturn
emersonreturn's picture

J-Jade

 

left, right, blue, red or green are all corrupt.  trudeau unfortunately is his mother's son.  air head, the dad was smart, unlike most politicians.  vote for the son and you can expect margaret and the rolling stones.  there are no choices but bankster run tricks.

Thu, 04/10/2014 - 18:39 | 4645325 Radical Marijuana
Radical Marijuana's picture

Indeed,

"there are no choices but bankster run tricks!"

To emphasize that, I repeat the point that during the Liberals' last convention, the keynote speaker, before Trudeau, was LARRY SUMMERS, who is being touted as having great influence over the emerging Liberal economic policies, which are mostly rationalizations for why is would be O.K. for Canada to go deeper into debt.

Justin Trudeau's father, when he was Prime Minister, took some the really big steps towards destroying Canadian "democracy," and enslaving Canadian economic policies to be directed by the international bankers. Since then, Canadians have transferred trillions of dollars in interest paid on "money" made out of nothing, as debts, to private banks.

Paradoxically, since Canada is relatively more comfortable, because of its better ratio of natural resources to population size, Canadians are still more mentally amenable to being a colony. Although, from a more absolute point of view, the USA is thousands of times worse than Canada is, from a subjective psychological point of view, Canadians are worse mental slaves than even Americans.

IT IS AN OBJECTIVE SOCIAL FACT:

CANADIANS ARE ZOMBIE SHEEPLE!

Thu, 04/10/2014 - 23:26 | 4646240 J_jade
J_jade's picture

Well guys, i for one will take Harper and want too see him continue until the Liberals can find someone better then that little prick Trudeau.   The Debil I know over the Devil I don't want to know lol

Thu, 04/10/2014 - 16:54 | 4644843 tony wilson
tony wilson's picture

hey germany they stole your gold it's gone you fucking zombies

hey aussies you have been ass raped by the jewish brits you are borg cattle.

hey cannucks you are a royal experiment in child rape and kidnap and mass murder by the brits.

you are another fucking active experiment

new zealand get in city of london line or you will be earth quake weaponed again.

your bees must monsanto die you will be jew borged.

 

and in other news

 

adjudication in the The Case of the Pope: Global Child Trafficking and Murder

http://itccs.org/2014/04/10/adjudication-in-the-the-case-of-the-pope-glo...

Thu, 04/10/2014 - 17:57 | 4645128 thorgodofthunder
thorgodofthunder's picture

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Thu, 04/10/2014 - 18:02 | 4645158 robertocarlos
robertocarlos's picture

Tony Wilson tells it like it is.

Thu, 04/10/2014 - 18:22 | 4645255 Radical Marijuana
Radical Marijuana's picture

Facts are facts. Canards about "antisemitism" and "racism" do not refute those facts. Of course, since the real world is actually controlled by lies, backed by violence, in which the paradoxes are practically perpetual that the best organized gangs of criminals control civilization, there is no reasonable chance for any rational political debates. There is nothing but different systems of organized lies, operating robberies, which are in dynamic equilibria which enable those who temporarily become the best at doing that to promote the bullshit that they are the "good guys." All one has to do is look at how big and how long-lasting any social organization may be, in order to tell how well did it promote its kinds of lies, in order to benefit from the feedback of its robberies.

Fri, 04/11/2014 - 07:58 | 4646764 PhilofOz
PhilofOz's picture

STFU!

Thu, 04/10/2014 - 16:55 | 4644877 hangemhigh77
hangemhigh77's picture

Sadly?? Really?? Fuck him. Just another bankster butt buddy crooked paid off politician. I hope Satan is frying his cock and feeding it to him everyday. I wonder if he thinks it was all worth it now?? Fry motherfucker

Thu, 04/10/2014 - 18:03 | 4645026 Radical Marijuana
Radical Marijuana's picture

As James_Cole already posted above:

http://en.wikipedia.org/wiki/Canadian_public_debt

That Minister of Finance of Canada just another puppet for the international banksters, performing for the masses of muppets who did not understand the monetary and taxation systems, because they had been conditioned to not want to understand. The overall indebtedness of the Canadian government rocketed back up after the 2008 financial crises, when the government of Canada transferred about 120 billion dollars to the biggest banks, to save them, while those events barely made the news, and never became an election issue, because it was mostly deliberately ignored by the mass media and the vast majority of the public. Generally speaking the mass media and the public only focus on relatively trivial things, but deliberate ignore the big picture important things.

Since some of the previous comments referred generally to "death" itself, I will add some of my kind of transcendental poetry bla, bla, blah on that topic:

We ARE the unknowable infinite. We subtract parts, as experiences. Our ability to know ourselves is another relative subtraction of a part from the unknowable Whole. Meanwhile, our society is dominated by the biggest bullies' bullshit social stories, which deliberately project a Bizarro Mirror World view of reality, which frauds are enforced, so that the illusions and delusions are regarded as The Absolute Truth.

SUBTRACTION IS THE FUNDAMENTAL PROCESS, AND THE ONLY ONE WHICH DOES NOT ACTUALLY EXIST, ALTHOUGH EVERYTHING THAT APPEARS TO EXIST RELATIVELY DOES SO DUE TO THAT SUBTRACTION PROCESS. One of the most important philosophical mistakes was made when an arbitrary minus sign was inserted into the entropy equations of thermodynamics and information theory. Basically, what that did was continue to uphold the Bizarro Mirror World view of reality promoted by the biggest bullies.

All power and information have inherently negative values, because they are all based upon subtracting parts from the Whole, which is relatively so, but is treated by the biggest bullies as being absolutely so. All private property is based on staking claims and backing those up with coercion. All money is based on measurements backed by murder. That operates through regarding subtraction backwards, which means that we are taught by the biggest bullies that dominate our civilization to regard both evil and death backwards, along with everything else.

Energy is spirit, which is too transfinite to be able to experience. Time and space are relative illusions, which enable the relative subtractions of experience to play through. The individual is always made of infinite loops of energy (& matter) through the environment. The individual actually IS the environment. Evil is the relative subtraction regarded backwards. Death is the relative illusion which never truly happens. The whirlpool IS the ocean of energy. The axis of imagination, which is the idea that that whirlpool "exists," is the relative separation of the part from the Whole. However, the one place where there is no water is through the axis of the whirlpool.

Our society is dominated by the biggest bullies, which do their best to make everyone perceive and believe things to be as backwards as possible. Cutting the Whole living world up into pieces of private property is killing it, and does so the more we regard that as having been absolute, rather than relative. Hence, the grand paradox of social survival through systems of organized lies, operating robberies: the ways that we developed to survive are now killing us. Of course, that too is not absolute, but only relative, but nevertheless, despite that these paradoxes make sense regarding how and why they worked, the more that people are unable to understand the processes of subtraction, and mistake the part for the Whole, then the more that they behave in ways which end up being insanely contradictory of their own survival.

It is not possible to exaggerate the importance of understanding entropy backwards, because that means that we understand ALL general energy systems backwards, including the individual human being, as well as their collective civilization. In particular, it is not possible to exaggerate the degree to which the history of successful warfare was based on deceits has enabled there to be made and maintained a fundamentally fraudulent financial accounting system.

In the context, of course, Jim Flaherty, Canada's Former Finance Minister, was another professional liar, and immaculate hypocrite, whose career success was due to working with and for other bigger groups of such liars and hypocrites. His life and times were another one of the tiny stepping stones towards our globalized civilization's systems of organized lies, operating robberies, acting in ways which enjoyed the maximum short-term success for the ruling classes, while preparing the path towards the longer term consequences of mad self-destruction for those systems.

Jim Flaherty worked to spread the Grand Canyon Paradoxes to get wider. Canada is one of the few countries that are still only in a state of debt slavery, whose bubbles have mostly not yet popped. Canada is one of the few countries in the world that has not quite reached the point of debt insanity. However, Flaherty's budgets were pushing Canada that way. In order for the whole world to be dominated by systems of debt slavery, heading over the cliff of debt insanities, (while the bottom of that cliff can not yet bee seen) the vast majority of people have to be brainwashed to believe in bullshit, and to see their world as backwards as possible, while being kept as unaware as possible that they are looking at everything as a Bizarro Mirror World, in which everything they see is as backwards and distorted as it could possibly have been made to be, due the triumph of death controls based on deceits, enabling the triumph of debt controls based on frauds.

It is impossible to exaggerate the deeper degrees to which people in our civilization are taught to perceive their world in as backwards of ways as possible. Although, of course, the vast majority of people do not have the slightest clue about that situation, our entire civilization is being directed through a hyper-complicated processes of looking at mirrors, while driving, where each level of mirrored reflections inverts what is seen one more time. That has become so extremely hyper-complicated now that there appear to be no more drivers who can keep track of the levels of lies enough to know whatever the truth may still be ...

The most profound expression of that was when an arbitrary minus sign was inserted into the entropy equations, so that people continued to understand energy systems backwards. Therefore, as technologies became trillions of times more powerful, due to basic progress in science, the overall uses of those technologies continued to be directed through social pyramid systems which were based on being able to back up lies with violence. Every Minister of Finance, or their equivalent, all over the world, primarily operates through fundamentally fraudulent financial accounting systems, which systems are driving them to hit the wall of debt slavery as fast as they possibly could, and then bounce off of that, over the cliff of debt insanity, whose bottom is not yet visible. Meanwhile, better understanding of the deeper nature of that problem, and how and why it manifested, is almost 100% absent, because nobody fully comprehends the degree to which they have been taught to believe in bullshit.

In that context, Jim Flaherty was probably just another spear carrier for the international bankers, mostly doing what he was told to do. However, in that context, I feel it is surely the case now that the international banskters have themselves lost count of how many levels of frauds they are currently operating through. In my opinion, we are ALL now lost in the Bizarro Mirror World Fun House, Folks! Furthermore, in my view, the way to pick up Ariadnie's Thread through that maze has to be to pick up the idea that we understand all energy systems backwards, because our mathematical physics inverted the meaning of the concept of entropy, by arbitrarily inserting a minus sign into those equations, therefore, we are now regarding ALL power and information backwards.

Of course, I recognize that, from a practical political point of view, that is ridiculous to seriously propose, since it obviously ain't going to happen! The vast majority of people can not even recognize that private banks making money OUT OF NOTHING as debts violated the most basic laws of nature, because that is actually a privatized fraud, enforced by the public power of governments. Furthermore, those who do begin to understand that almost always stay on the superficial levels of that understanding, rather than penetrate more deeply into the philosophical sources of that collectivized delusion. But nevertheless, theoretically, we need a profound intellectual scientific revolution, within the philosophy of science itself, which then would apply throughout all other areas, including politics, and the budgets of governments, in order to cope with how those governmental budgets operate as manifestations inside of a Bizarro Mirror World Fun House, where everything is almost as distorted and backwards as it possibly could be.

Of course, I repeat, Jim Flaherty was merely another typical Finance Minister, preaching the established State Religion of Debt Slavery to people who had always been drowning in so much bullshit for so long that they took that almost totally for granted. Although I would recommend that we should learn to swim, before we sink ... I see no reasonable grounds to not think that we are going to end up drowning under that deluge of bullshit, rather that recover our senses enough to survive ??? In the real world, as it actually exists today, governments can almost totally take for granted that "democracy" is already practically dead, and that it is not going to recover ... Therefore, my proposal for intellectual scientific revolutions to cope with that prognosis are merely my own kind of clutching to irrational hopes, in order to hold on to any "hope for change" whatsoever. Of course, I already had to admit that "hope for change" too has been stolen, and sold back to people as yet another lying promise.

In the Canadian context, the Liberals, that might form the next government, are also bankster puppets, (who had Larry Summers as their keynote speaker at their last convention.) Canada is set up to swing back to dupilictee from duplicitdum, like in the USA, switching from Democrats to Republican, as Canada might swing back to their Liberals from their Conservatives. Obviously, they are BOTH sock puppets for the banksters, with merely one in blue, and another in red.

Jim Flaherty was a sock puppet in blue for the banksters. He was able to give the biggest banks more than 100 billion dollars, while the overwhelming vast majority of Canadians barely noticed, since the mass media almost totally deliberately ignored those events. Hence, from any adequately objective overview, our society is almost terminally sick, and already too insane to recover, since it is so deeply dominated by bullshit and controlled by lies, which the vast majority of people take for granted, and do not want to question, that there are no reasonable grounds to doubt that we are going to bounce off the wall of debt slavery, and fall over the cliff of debt insanity, without having an insight regarding what happens when we end up doing that. ...

However, so far, Canada has not yet had its bubbles popped as much, but rather, Canada is one of the last few countries that is only in a state of debt slavery, rather than already into a state of debt insanity. But nevertheless, there is no doubt that Jim Flaherty, when he was alive, as the Canadian Minister of Finance, took several big steps towards driving Canada into debt insanity, as Canada followed the rest of the world, as directed to do so by the biggest gangsters, the international banksters.

Thu, 04/10/2014 - 17:40 | 4645030 robertocarlos
robertocarlos's picture

He was a good guy. RIP.

Fri, 04/11/2014 - 01:03 | 4646420 MeelionDollerBogus
MeelionDollerBogus's picture

did one good thing for me. The TFSA brokerage account. No matter what I never pay tax on anything made from it though since it counts as a savings account the typical 1% interest on it means that 1% is to be claimed as "income" to add to your other income sources for taxation. My strategy on that: when what's in it is removed there's no 1% to apply, after successful trades.

Thu, 04/10/2014 - 17:56 | 4645123 robertocarlos
robertocarlos's picture

He was a 5 foot 5 hockey player at Princeton and he wasn't afraid to go into the corners. He said he learned more driving a cab to finance his law schooling than he lean=rned in law school.

Thu, 04/10/2014 - 18:00 | 4645143 robertocarlos
robertocarlos's picture

He forced people at gun-point to buy over-priced POS houses.

Thu, 04/10/2014 - 19:03 | 4645416 zerohedgejjxxzz12
zerohedgejjxxzz12's picture

Yes We as Canadians were lied to. We were told, that our Canadian Banks did not suffer from the same losses that the US banks suffered from.

I beg to differ, I have had many discussions with other Canadians telling me that our Banks were sound. NOT TRUE

Watch the following clip.

https://www.youtube.com/watch?v=9K_N0uOXkQA

The cost of borrowing

5.41 The cost of borrowing is the third area that affects the annual deficit. In 1991-92, the interest on the debt was $41 billion. This cost of borrowing and its compounding effect have a significant impact on Canada's annual deficits. From Confederation up to 1991-92, the federal government accumulated a net debt of $423 billion. Of this, $37 billion represents the accumulated shortfall in meeting the cost of government programs since Confederation. The remainder, $386 billion, represents the amount the government has borrowed to service the debt created by previous annual shortfalls.

 

 We must rain on and bring in our Politicians to stop this debt, due to the high cost of interest payments.

Politicians our not one of us they have back room deals. If you screw your People, We will make it prosperous for you!


Thu, 04/10/2014 - 19:11 | 4645461 d edwards
d edwards's picture

Any relation to "Cat" Flaherty from KISS?

doubtful

Sat, 04/12/2014 - 19:41 | 4646360 Radical Marijuana
Radical Marijuana's picture

Jim Flarhety also promoted the government of Canada passing ominous ONNIBUS BUDGET BILLS, which included many different amendments to many different laws, all of which were rubber stamped at the same time.

‘Not a bailout’: the great Canadian bank caper

By Ralph Surette, June 19, 2010.

You know how wonderful Canadian banks are. They didn’t fail when others did, and didn’t need to be bailed out. We are standing tall among nations in that regard, and the Harper government can stick out its chest and preach the Canadian model of prudence and caution to a profligate world. Even the Americans are agog at our fiscal virtue.

Plus, our economy has been recovering from recession faster than others just in time for the G20 meeting in Toronto. It’s wonderful, fake lake and all.

Does this sound too cute? Here’s the inevitable other side of the story. The banks were actually "bailed out" to the tune of about $125 billion just before and after the 2008 election — in the form of a massive purchase of questionable mortgages and other "rotten paper," in the words of one economist, held by them. This was done through the Canada Mortgage and Housing Corporation, a federal agency. The taxpayer is now on the hook for these mortgages, 40 per cent of which are considered at risk, with more to come if interest rates rise and the economy dips again.

But the kicker is this: Hardly anybody noticed. It wasn’t an issue in the election, and the financial press said nothing. A few tried, and are still trying, to raise the alarm. Michel Chossudovsky, a retired University of Ottawa economist and head of the Montreal-based Centre for Research on Globalization, pointed out that Finance Minister Jim Flaherty had announced a $2.3-billion surplus in the offing before the election, then quickly changed it to a $64-billion deficit. He argues that the entire deficit was for the first installments of the bailout, which the prime minister described as "not a bailout" but a "market transaction."

Some other economists give the government more leeway, saying it was doing what others were doing — injecting "liquidity" into the banking system at a time when credit was threatening to seize up. But the sheer scale of the amount, plus the continuation of the banks’ excessive lending practices (despite their image of prudence relative to the Americans), have led to something else. Remember that government money was supposed to stimulate infrastructure projects. What we got instead looks like a housing and consumer credit bubble — and the illusion of economic growth while other countries faltered.

Alarmed, last winter the government and the banks clamped down on lending with new rules. The May figures show a nearly 10 per cent drop in housing values across Canada. Did they move too late and pop the bubble — and the "recovery" with it? Just in time for the G20?

That’s the economics, and we’ll wait and see on that. What’s more disturbing is the politics — this business of nobody noticing. Here’s a related story for you. Laugh or cry, as you wish.

It’s apparently just dawning, but in the 2007 budget, Parliament unwittingly gave away its right to oversee government borrowing. That’s right, it didn’t know. For 140 years, government had to bring borrowing bills before Parliament. Now it doesn’t have to. "Shame on us" for not catching it, says Senator Lowell Murray, who has introduced two private member’s bills to reverse this to no avail. Tough luck, says the government. Parliament voted and that’s that.

The fact that the Harper government has taken to presenting budgets in huge U.S.-style omnibus bills with everything but the kitchen sink in them, and daring the muddled opposition to vote them down and trigger an election, is considered the trick that led to the oversight. I have another theory. Opposition and media are so addled by scandals and other shenanigans — Mulroney/Schreiber, Guergis/Jaffer, Maxime Bernier and the biker lady etc. — that everything crucial is passing them by. Stephen Harper loves this.

As for the banks, here’s the rest of the story. Bank profits have boomed after the "not a bailout." The Big Six have made some $5 billion in each of the last two quarters. Last year, the banks gave their top dudes over $8 billion in bonuses. This year, they’ve put away $5 billion so far for this exercise in legalized theft. Meanwhile, the Harper tax cuts — which will have Canada with the lowest corporate tax rates in the G7 by 2012 — is giving the banks a gift of some $200 million per quarter at present rates of profit.

Voices in the wilderness call for banks to be regulated like a public utility, which is what they are, in order to stop this "wealth by stealth" operation. Others call on the federal government to resume borrowing, on its own behalf and that of the provinces and municipalities, from the Bank of Canada, bypassing commercial rates — as it did before 1974. With Harper in power and nobody noticing anything, good luck with that. ...

EVERYTHING WRITTEN BACK THEN IN 2010 IS FAR WORSE NOW, SINCE 2012. AFTER THE HARPER GOVERNMENT GAINED A "MAJORITY" GOVERNMENT POWER, THE PARLIAMENT OF CANADA NOW QUICKLY AND ALMOST AUTOMATICALLY RUBBER STAMPS EVERY STEP TOWARDS A BIGGER FASCIST POLICE STATE, BACKING UP A RUNAWAY FASCIST PLUTOCRACY JUGGERNAUT. THE MAJORITY OF THE CANADIAN POPULATION DOES NOT KNOW ANYTHING ABOUT THOSE SOCIAL FACTS, AND DOES NOT WANT TO KNOW. THERE IS NO REASONABLE BASIS TO BELIEVE THAT GLOBALIZED SYSTEM WILL NOT TURN THE VAST MAJORITY OF PEOPLE INTO ITS ROAD KILL.

Thu, 04/10/2014 - 19:14 | 4645465 americanspirit
americanspirit's picture

A Rob Ford look-alike if I ever saw one. Don't any of these porkers understand anything at all about the relationship between diet and health?

Thu, 04/10/2014 - 19:51 | 4645617 Incubus
Incubus's picture

He was a fat fuck

 

and then he died.

 

 

Requiescat In Adipem

Thu, 04/10/2014 - 20:59 | 4645791 zerohedgejjxxzz12
zerohedgejjxxzz12's picture

 Every Newborn Canadian Get slapped on the ass by the CRA (Canadian Revenue Agency) and handed the debt that they are responsible for Approx $20,124.33 oh but that does not include the Provincial or municipal debts. Welcome to the world!

Fri, 04/11/2014 - 17:00 | 4649015 solgundy
solgundy's picture

Let me ask you one question
Is your money that good
Will it buy you forgiveness
Do you think that it could
I think you will find
When your death takes its toll
All the money you made
Will never buy back your soul.

And I hope that you die
And your death'll come soon
I will follow your casket
In the pale afternoon
And I'll watch while you're lowered
Down to your deathbed
And I'll stand over your grave
'Til I'm sure that you're dead.

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