Bank of Canada lowers rates; CBC anchor makes up news to make it sound worse

Taxpayer-funded news anchor Nancy Wilson, just now, on the state-owned, state-run, taxpayer-funded news media in Canada, the CBC: 


“The Bank of Canada is lowering interest rates “saying the recession is far worse [her emphasis] than previously predicted.”

And here’s what Bank of Canada actually said in their statement, which includes nothing like the words “far worse”, proving that Nancy Wilson just put that in there to make things sound “far worse” than they really are, for her own purposes.  (Her own purposes, I think, include the words “capitalism is dead!”)

“…measures to stabilize the global financial system have taken longer than expected to enact. As a result, the recession in Canada will be deeper than anticipated, with the economy projected to contract by 3.0 per cent in 2009. The Bank now expects the recovery to be delayed until the fourth quarter and to be more gradual. The economy is projected to grow by 2.5 per cent in 2010 and 4.7 per cent in 2011, and to reach its production capacity in the third quarter of 2011. Given significant restructuring in a number of sectors, potential growth has been revised down. The recovery will be importantly supported by the Bank’s accommodative monetary stance.” […]

While the Bank of Canada consistently and properly errs on the side of calm, conservative outlooks and projections, expert economist, news anchor and journalist Nancy Wilson and the socialism-reliant CBC always default to the most egregious and most negative sounding scenario when it comes to our ostensibly free-market capitalist economy, which they have been trying to convince us is in or is sure to be in “the R-word” for the past two or more years.  This negativity will of course cease when our ostensibly free-market capitalist economy is finally nothing like that any more, and a Soviet-style socialist planned economy Utopia is realized. 

All I can think of is that if the economy is in fact “far worse” than previously thought, it should be “even more obvious” to the common taxpayer-paid news anchor and part-time expert economics analyst that the government should cut the utterly useless CBC of its taxpayer funding.  And of course publicly ask the question: What kind of government competes against its own citizens in business—particularly during a recession?  Moreover, state-owned and state-run media should of course be banned in this country, and that notion enshrined in our constitution. 

The next anchor on shift repeated the “far worse” mantra, so it’s obviously a CBC-mandated agenda at play here, rather than an anchor-specific one.  Which is indeed, far worse.

Anchor Sandie Rinaldo at CTV Newsnet reports that the Bank of Canada says that “things are worse than expected”.  Not “far worse”. 

CORRECTION:  In her later reporting, Rinaldo reported as follows:

“The central bank says the recession is FAR WORSE than originally thought”. 


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