Carney, in his final campaign conference, ruled out any prospect the U.S. would use military force against Canada, but he said Trump is intent on subjugating the country in a

“My question to Canadians is simple: Is Pierre Poilievre the person you want sitting across the table from Donald Trump?” Carney said, referring to the Conservative leader he disparaged as a career politician.

“I have managed budgets before. I have managed economies before. I have managed crises before,” added Carney, who served as head of Canada’s central bank during the 2008 financial crisis, as well as the governor of the Bank of England when the United Kingdom voted to leave the European Union.

“This is a time for experience, not experiments,” he said.

  • leftytighty@slrpnk.netEnglish
    172·
    20 hours ago

    It’s easy to miss but there are other words in the quote where he talks about his experience, get an adult to help you sound them out.

    • Damage@feddit.it
      221·
      20 hours ago

      “I was a banker” might not be the strong point you think it is… Especially if we’re talking about 2008, but it’d take an adult to remember that time.

      • considerealization@lemmy.ca
        17·
        19 hours ago

        Uh… do you know what contribution he made to 2008? Or are you just free associating “banks” and “2008”?

        Carney’s actions as Governor of the Bank of Canada are said to have played a major role in helping Canada avoid the worst impacts of the 2008 financial crisis.

        The epoch-making feature of Carney’s tenure as governor remains the decision to cut the overnight rate by 50 basis points in March 2008, one month after his appointment. While the European Central Bank delivered a rate increase in July 2008, Carney anticipated the leveraged-loan crisis would trigger global contagion. When policy rates in Canada hit the effective lower bound, the central bank combated the crisis with the non-standard monetary tool “conditional commitment” in April 2009 to hold the policy rate for at least one year, in a boost to domestic credit conditions and market confidence. Output and employment began to recover from mid-2009, in part thanks to monetary stimulus. The Canadian economy outperformed those of its G7 peers during the crisis, and Canada was the first G7 nation to have both its Gross Domestic Product (GDP) and employment recover to pre-crisis levels.

        • Dearche@lemmy.ca
          1·
          16 hours ago

          While I do agree that he did help, he wasn’t very instrumental in saving Canada from that meltdown. It was the policies that were already in place at the time that prevented Canadian banks from being overleveraged, which made fixing the issue in Canada far easier than it was in the states.

          Carney did help prevent a major disaster, but he also started from a far better position when doing so.

          Unfortunately Harper removed all the safeguards that prevented the 2008 meltdown, so we’re as vulnerable to it now as the US was back then.