Collegial Governing

Sentiment among market prognosticators this week is that all things economic are on the rebound. It doesn't appear conducive to one's political career in Washington right now to speak ill of Obama's policies and plans. Hence; I see trouble brewing. Rarely, have we seen such dramatic growth in government in such a short time span. Not only have we witnessed a gargantuan increase in the size of U.S debt but we've seen the federal U.S government become a large stake holder in banks and auto companies which must gnaw at the ideals of market capitalists. The ABC - This Week's round table this morning was all punditry and spin with respect to a political appointment but lacking in candor on the merits of taxpayer bailouts and equity stakes in corporations. Governor of the Bank of Canada, Mark Carney, this morning exclaimed that the Canadian bank rate will remain at 0.25% until mid 2010 which leads me to wonder about the confidence economists have in Canadian business to exert risk capital efficiently in an environment of government prolificacy.