I can't resist to poke fun at easy targets like Happy Raymond, he reminds me of a kid in high school who thought communism was the solution to all problems. We challenged him for the fun of listening to his incoherent speech and obscure references to early 20th century Russia, and then we threw a paperback copy of Animal Farm in his backpack.
The Grand Master of Smoke & Mirrors was proud to announce yesterday that the 2009-2010 deficit is only $3.1B instead of the earlier $4.2B forecast. Man, that is excellent news, I feel much better. But wait a minute, how can your forecasts be off by $1.1B? When Wall Street guesses our earnings, there are not off by 9 or 10 figures, don't they?
Happy Raymond has an answer for everything, that's what makes him a so talented politician. "The economy growth was much stronger than expected" he said. That was easy! So when Quebec's deficit will dip a billion south of forecasts, Joyful Raymond will answer "The economy proved to be weaker than expected".
Do you realize now that any smiling retard with a union background can act as Finance Minister in this province?
Now the good part. The debt will go from $163B in 2010 to close to $200B in 2014-15, and this beloved administration has raised its burn rate by a whopping 5.2% this year alone! That's like sinking at warp speed. Or bleeding 2 gallons of blood a second. Blissful Raymond was quick to provide a thorough analysis. It is a serious situation. Thanks Ray, it's good to know you have things under control.
I'm calling a few buddies over at Moody's and S&P, it's time for the circus to end and close the curtain. If anyone can convince these guys to lower the credit rate of Quebec and stop the ongoing party, it's me.
Roach out.
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