Monday, September 22, 2008
They just can't seem to keep from lying.
I just listened to Flaherty and McCallum on Don Newman's Brooooaaaadcast, and the discussion turned, naturally, to income trusts. Flaherty insisted, on at least two occasions, that the income trust sector had rebounded, showing a 14.5% increase since September 2006. According to him, the only people who lost money in the income trust fiasco were "people that lost early on when they panicked and they sold". McCallum called him on it claiming that he (McCallum) had checked the figures this very morning and the sector had not rebounded. He was promptly told he was "wrong" and "totally inaccurate".
Then I find this chart posted at CAITI-ONLINE-MEDIA that clearly shows an 11.1% DROP in the income trust index since September 2006.
I'm beginning to think they really just cannot help themselves. It's pathological.