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Global Oil Bust Claims a Neocon Scalp: Canadian PM Stephen Harper Resigns as Conservatives Lose, Son of Late PM Pierre Trudeau to Become Canadian Prime Minister

The global oil bust that has hit Alberta’s oil sands industry and all petrocurrencies hard — including the Canadian dollar or looney — has cost Stephen Harper and his Conservative Party the Prime Minister-ship in Ottawa. While a Canadian once told me that Americans probably could just as easily name coffee and donuts chain founding hockey player Tim Horton as to correctly identify Harper as her country’s PM, the fact is Harper’s downfall is a clear sign of the times. As is the family name of his likely successor, Liberal Party leader Justin Trudeau, son of the (in)famous socialist-leaning and Moscow-friendly French-Catholic 1970s and early 80s PM Pierre Trudeau (who liked to use the Russified nickname for Justin’s brother Alexandre “Sasha”).
https://twitter.com/RLause/status/656306225005506560

https://twitter.com/_sarahkirk/status/656318748480028672

Of course, there is little reason to think Prime Minister Harper’s foreign policy, with its macho posturing about taking on the Russians in the Arctic or dispatching Canadian troops to train Ukrainian National Guardsmen how to kill Donbass native rebels played much of a role in his downfall. It’s far more logical to assume as in most modern Western elections economics was the main issue.

The decline in the price  of oil, driven in part by Saudi refusal to cut OPEC production and the real global economy being in recession if not depression in most importing nations, took the wind out of Mr. Harper’s sails in his electoral stronghold, the western part of Canada — particularly in the petro-region of Alberta.

Over the past generation, a growing wave of South and East Asian immigration has changed the demographics of Ontario, Canada’s most populous province, and made it more socially if not economically liberal since the 1990s. British Columbia, with most of the population clustered in Vancouver and on nearby Vancouver Island north of Washington State’s Seattle-Bellingham I-5 corridor, has also seen an influx of Chinese property buyers living up to its nickname ‘Hongcouver’, despite the economic slowdown in China. Unfortunately for the Chinese and other foreign investors pouring money into a bloated Canadian real estate market, it looks like the property bubble is about to burst and it’s already popped in the Albertan oil industry hubs of Calgary and Edmonton.

As we mentioned at the start of this piece, just as the ruble has suffered from the oil price drop, so too has the Canadian dollar or looney has depreciated from 87 cents to a measly 77 cents versus the greenback in the last twelve months. That might not seem like a big deal. It might even appear to be a boon for American tourists who want to go skiing in Whistler or visit other parts of Canada this winter. But the fact is Canadians import a massive amount of stuff from their huge neighbor and top trade partner, and 75 percent of Canadians live within 100 miles of the U.S. border. Which means consumer inflation in Canada is acutely sensitive to CDN depreciation to the USD, and as in the U.S. cheaper gasoline hardly makes up for the quality job losses in the depressed oil and gas industry or inflation.

Nonetheless, some currency traders seem to think the looney can rally if oil prices creep back up, especially if there’s more turmoil in or around Saudi Arabia in the Middle East. As always when trying to day trade currencies especially squeezing bips out of the most traded pairs like CDN-USD or USD-JPY USD-EUR, consult the experts before wading in (especially check out hour two of the October 13, 2015 Guerrilla Radio show on Forex).

The Canucks are coming, the Russians are really scared! Canadian wartime newsreel style propaganda, April 2015

Canadian PM Stephen Harper in Kiev, Ukraine getting pestered by Petro Poroshenko for weapons in June 2015

While Harper did his best to antagonize Russia, if one searches for any foreign origins of his political defeat, it would be found in Canada’s fastest growing trade partner, China.

The @CanadaNATO twitter feed has been a particularly obnoxious shill for the ‘democratic’ US-backed Kiev regime

Speaking late Monday night to a dual passport holding Canadian-American acquaintance who has followed Ottawa politics and the oil sands boom/bust for many years, we inquired about whether the Chinese (setting aside the so-called ‘White Dragons’, simply looking at the overt economic influence) may have played a role in knocking down Harper, who pursued a policy of confrontation toward Beijing’s leading Eurasian ally Russia.

Our source, who has in-laws in Lebanon, was mainly buzzing about the stunning geopolitical repercussions for the U.S. and the Greater Middle East from Russian President Vladimir Putin’s intervention in Syria. However, he did state that many Chinese and South Asian immigrants, particularly the highly educated and entrepreneurial whose incomes often exceed those of native Canadians, were angered by PM Harper’s restrictions on family reunification. That is, a common immigration practice that one would think famously immigrant-friendly Canada would have no problem with, particularly when the U.S. doesn’t place very many restrictions on the ability of permanent residents and naturalized citizens to sponsor their relatives.

Why Harper would antagonize such an affluent and influential Asian voting demographic while constantly pandering to the greater Galicia nationalists (like Prof. Taras Kuzio) among the Ukrainian diaspora in Canada, we do not know. Our knowledge of Canadian politics is very limited. Suffice to say though, PM Harper’s political demise is yet another casualty of the oil price collapse accompanying the power struggle for market dominance in Eurasia and the global economic meltdown. And we don’t expect the incoming Trudeau government to prioritize a new generation of Canadian icebreakers to compete with Moscow’s nuclear powered fleet above the Arctic Circle.

All the same, we don’t expect any sudden or dramatic thaw between Ottawa and Moscow, just because a Trudeau will be moving in to 24 Sussex Drive (the Canadian equivalent to Number 10 Downing in London or 1600 Pennsylvania in Washington D.C.)

 

 

13 thoughts on “Global Oil Bust Claims a Neocon Scalp: Canadian PM Stephen Harper Resigns as Conservatives Lose, Son of Late PM Pierre Trudeau to Become Canadian Prime Minister Leave a comment

    • Joyann — I will look into the monarchy thing again, especially in the context of retired KGB/SVR Lt. Gen. Leonid Reshetnikov’s hints last spring about a new ideology for Russia that would combine ‘the best’ of the old ideologies. I have another post coming up about Reshetnikov whom I regard as Putin’s true ‘Grey Cardinal’ and the face of the siloviki (security service aka ex-KGB guys) ‘brain trust’ board (not contrary to alt media and Glenn Beck myths ideologue Alexandr Dugin) in a week or so. I don’t think Reshetnikov is Putin’s top adviser but he certainly like Sergey Glazyev who has extensive contacts with the LaRouche movement/Schiller Institute in Germany is the face for a faction that holds significant sway.
      I did not intend to publish something above V’s Guerrilla Report and if he should choose to move his post up to Tuesday I have no problem with that. Also everyone please see my reply to a comment left earlier asking if I am bigoted against immigrants, Middle Easterners, or Muslims. I think I’ve made myself very clear that I do not have a problem with Muslims coming into the USA who wish to assimilate or as families, but I would have a big problem if I were German with taking in huge numbers of them in a very short period of time with the majority being military age males. Also I make it very clear I do not blame the migrants for coming, particularly the Syrians with families, I blame those who opened the floodgates and those who created the wars in the first place.

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      • James,
        Speaking of monarchy, there is Kate, 33, dressed in red for the China State visit. Interesting symbols.
        http://www.dailymail.co.uk/news/article-3280557/The-Queen-David-Cameron-greet-Chinese-president-Xi-Jinping.html
        As for immigration, US created the monster and these immigrants are part of the “Plan” to break down boundaries and create chaos. We can’t blame the victims for the problem. I know that not all of these immigrants are “innocent”. This is also part of the confusion. The powers that be have to create sympathy with genuine immigrants who are now homeless. This is all part of stoking the flames of religious war ( WWIII the masonic-NWO plan). We will see more and more divisions in our society because the planners are doing this deliberately whether black on white, muslim v.s. Jew, muslim v.s. Christian, Christian v.s. Jew, atheist v.s. everyone …
        The good part is if believers see God as sovereign they will share the gospel with these immigrants. In their countries hearing and responding to the gospel is harder. In the West there is a little less social pressure for the moment. There are communities of Iranian converts to Christianity in places like LA, Kurds, etc. These immigrants were there because of various wars and overthrow of the the Shah of Iran etc. We will experience more terrorism in the West because of immigration, but at the same time moderate Muslims are getting fed up with what they see. This could be a blessing.
        If we think of these Muslims as prisoners of Islam and realize that Yeshua can set them free, we will see this as an opportunity in spite of the many negatives of being overrun by immigrants. Muslims are people, who are enslaved by a religious system that uses 7th century Arabian culture to control them.

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      • “As for immigration, US created the monster and these immigrants are part of the “Plan” to break down boundaries and create chaos. We can’t blame the victims for the problem. I know that not all of these immigrants are “innocent”. This is also part of the confusion. The powers that be have to create sympathy with genuine immigrants who are now homeless. This is all part of stoking the flames of religious war…If we think of these Muslims as prisoners of Islam and realize that Yeshua can set them free, we will see this as an opportunity in spite of the many negatives of being overrun by immigrants. Muslims are people, who are enslaved by a religious system that uses 7th century Arabian culture to control them.” Agreed!

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      • We can hope. The Middle East was a nicer place before Islam overran it and told women to dress up like the Black Mass of Death.

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  1. Thanks James, what a busy couple of weeks you’ve had.
    Your insights are much appreciated.
    I for one am glad to see Harper go. We just had a similar result here in OZ, not through the ballot box, but a palace coup!

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    • Hoppers — just got an email a few weeks ago from an Aussie who worked with me in Moscow, has a Russian wife and daughter. He describes Australia as a monumental commodity bubble bursting followed by grim results in the property and small to mid size biz economy. He is in what has been a fairly prosperous town in NSW. With little demand for his business journalism/editing skills in Oz, he is seriously considering moving back to Moscow with his family. I love Australia and Aussies but for the life of me can’t understand how the gun laws were pushed through — must’ve been a British Empire legacy sort of thing.
      Thank you for the kind words. Though our audience is not Zerohedge sized, it means a lot to me knowing that our articles are read all over the world and the odd hours I sometimes post are no barrier to people reading in Oz, NZ or China.

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  2. Hi James, We in Aussie have a new ex Goldman Sachs CEO in Malcolm Turnbull, as Prime Minister. Leadership spill on the Feast of Trumpets 14th September, 2015. He signed us up for the TPP on 6th Oct. Our previous PM stood strongly against ‘gay’ marriage bills and was strongly supporting family values.On another note I am taking my adult children to Russia in the future and doing some research. I have never been before and I would love to contact you privately. How could that be arranged? Rogue money will have my email if you could contact me through that I would really appreciate that. Margot Crossing

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  3. THE FUTURE OF RUSSIA AND THE END OF THE WORLDhttp://www.sfaturiortodoxe.ro/orthodox/orthodox_advices_seraphim_rose_the_end_of_the_world.htm
    A Lecture given at the Youth Conference
    of the Russian Orthodox Church Outside of Russia,
    San Francisco, August 3, 1981
    by Blessed Hieromonk Seraphim (Rose)
    Schema-monk Aristocleus, not long before his death in August 1918, said that “now we are undergoing the times before Antichrist, but Russia will yet be delivered. There will be much suffering, much torture. The whole of Russia will become a prison, and one must greatly entreat the Lord for forgiveness. One must repent of one’s sins and fear to do even the least sin, but strive to do good, even the smallest. For even the wing of a fly has weight, but God’s scales are exact. And when even the smallest of good in the cup overweighs, then will God reveal His mercy upon Russia. Ten days before the end (of his life) he said that the end would come through China. There will be and extraordinary outburst and a miracle of God would be manifested. And there will be an entirely different life, but all this will not be for long” [Orth. Russia, 1969, #21, p. 3].
    Elder Nectarius of Optina in the 1920’s prophesied: “Russia will arise, and materially it will not be wealthy. But in spirit it will be wealthy, and in Optina there will yet be seven luminaries, seven pillars” [I.M. Kontzevich, Optina Monastery and its Epoch, Jordanville, 1973, p.538].
    Interestingly, St. John of Kronstadt also prophesied that the deliverance of Russia would come from the East [I.K. Sursky, Father John of Kronstadt, Belgrade, 1942, vol. 2, p. 24 — Excerpts from this work are in preparation for publication by the St. John of Kronstadt Press].
    mcrossing writes[These are interesting prophecies considering when they were written and what is happening now. This conference was 1981 – before the wall came down. Interesting Russia was in captivity to Communism 70 years 1919 to 1989. Same as the Israelites in Babylon BC]

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  4. James,
    Sorry for being off topic. Just found this Russian version of the Donald Cook incident. I couldn’t find an english subtitled version. Since your Russian is better than mine, could you summarize this in english for the RMers?

    Like

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