AngryFrenchGuy

How Do You Say Wall Street Crisis in French?

with 37 comments

Banks are going bankrupt, credit has disappeared, worldwide markets are falling, the Russians have halted trading, China’s communist government is about to buy Morgan Stanley and the American government is bailing out firms that less than one week ago were considered Wall Street giants.

All of the sudden recession is a happy word and the word you don’t say out loud starts with a D.

The Wall Street Journal calls it the “Worst Crisis since 30’s, With No End in Sight“.

Feeling a little bit anxious?  Need to get your mind off your retirement savings and stock portofolio for a while?

Easy.  Just pick up a copy of one of Québec’s French-language newspapers and travel to a world where the crisis hasn’t arrived yet.

Two out of Montreal’s three French-language dailies managed to fill their front pages on Thursday September 18th 2008 – after the US government’s bailout of AIG failed to stabilize panicked markets –  without printing a single word about the unprecedented upvheal currently rocking the financial world.

Québec’s biggest daily, le Journal de Montréal leads with an exclusive poll revealing that voters – shock! – don’t believe politicians’ promises and Le Devoir remains convinced that their series on ‘Succeeding in Life’ is what is on readers minds right now.

La Presse has a small teaser on the front page sending readers to inside pages for more about the markets.

Only The Gazette printed a front page article on the crisis.

Of Gesca’s seven dailies, only La Presse, Québec City’s Le Soleil and Ottawa/Gatineau’s Le Droit published a secondary headline about the crisis.  Gesca’s papers have a monopoly on daily newspapers in Québec, except in Montreal and Québec city.

In the ROC, Toronto’s National Post and Globe and Mail are covering this story extensively while smaller dailies of either the Sun or CanWest chains seem to believe that this historical economic event will somehow pass Canada by…

Written by angryfrenchguy

September 18, 2008 at 2:39 pm

37 Responses

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  1. Good article, AFG first time, very objective, congrats…..

    You almost have a real understanding the Quebec media

    Here’s the next step….

    Remember how the Quebec media has informed you about that thing about the Quebec promised land thing and all those bad folks that keep ruining all your plans.

    How glorious it will all be someday!!!

    Well, think again

    Angryphone

    September 18, 2008 at 3:04 pm

  2. “Remember how the Quebec media has informed you about that thing about the Quebec promised land thing and all those bad folks that keep ruining all your plans.”

    Could you please send a link to one of these articles? I’ve never read them.

    angryfrenchguy

    September 18, 2008 at 3:21 pm

  3. or perhaps I should have said what they haven’t been telling you all these years ….. just like you mentioned in your article

    Angryphone

    September 18, 2008 at 3:23 pm

  4. As for links, the internet only goes back to the year 2000 thoroughly
    and we do not have access to the Quebec press archives from 1900-1999. So there is no link of which you speak. But the truth is out there. All we have is Wikipedia where people like yourself and the st-jean baptist types go on all day long and revise the truth.
    Shhh… wink wink….

    Angryphone

    September 18, 2008 at 3:41 pm

  5. eureka.cc

    All of Québec’s newspapers archives.

    Available for free if you are a member of La Bibliothèque Nationale.

    angryfrenchguy

    September 18, 2008 at 4:05 pm

  6. Why should economic collapse worry quebecers? they have been living it for decades already!

    randy

    September 18, 2008 at 4:48 pm

  7. Guys! Stop bla bla bla! We need to save our Great Leader Duceppe. He is sinking. He représente nos valeurs, nos convictions! Who will protect us if he will loose? Who will protect our Great folk language and the culture? Did you see the conservative’s banners? They dared to put English slogan of the same size like French! They outraged the Bill101!
    I told you many times that we Quebecois’s are not interested in economy. Economy is our weak point. But soveri…. sorry I forgot the right spelling of this word, let say separatism is our strong point! Honestly, nobody knows what happens after, I mean economy. But economy is our…

    new quebecois

    September 18, 2008 at 5:25 pm

  8. It is truly interesting that the economic situation was not covered by the french newspapers. The net effect will touch everyone including all Canadians including Quebecers. I guess they dont want everyone rushing out to check their RRSP portfolios to discover the bad news. Might be bad for the sale of advertising.

    Good post and observation AGF.

    ABP

    ABP

    September 18, 2008 at 8:13 pm

  9. “Guys! Stop bla bla bla! We need to save our Great Leader Duceppe. He is sinking. He représente nos valeurs, nos convictions! Who will protect us if he will loose? Who will protect our Great folk language and the culture? Did you see the conservative’s banners? They dared to put English slogan of the same size like French! They outraged the Bill101!”

    http://communities.canada.com/montrealgazette/blogs/onthetrail/archive/2008/09/07/oh-say-can-you-see.aspx

    About Gilles tour bus…check out the links….You want small minded sarcasm and silliness, here you go.

    ABP

    ABP

    September 18, 2008 at 8:27 pm

  10. AFG, given your Black Flag philosophy, shouldn’t you be welcoming the collapse of capitalism?

    hoo-boy

    September 19, 2008 at 2:22 am

  11. eureka.cc

    All of Québec’s newspapers archives.

    Available for free if you are a member of La Bibliothèque Nationale

    AFG I guess you got a lot of reading ahead if you

    Angryphone

    September 19, 2008 at 7:23 am

  12. “About Gilles tour bus…check out the links….You want small minded sarcasm and silliness, here you go.”

    Sure, but it wouldn’t be that difficult to spin this back the other way. You know the line… French is so endangered in Quebec that even the Bloc Québécois leader can’t find a Quebec-made motorcoach with inside markings in French, yadda yadda yadda…

    Acajack

    September 19, 2008 at 8:49 am

  13. My take on the bloc. What started out as a protest vote with one seat soon became the official opposition and now is job security for most of these bloc members. If Quebec would have separated in the 1990’s most bloc members would have quit and joined in on the action in the new banana republic of Quebec. However Quebec remained in Canada and all those bloc members now have mortgages, wives, husbands, kids, private schools hence their job as the member of parliament is a means to an end to pay the bills. It would make no sense for them to pack their bags for an independent Quebec. At this point they are preaching Quebec libre to get suckers like the AFG types to lick their envelops but in the back of their mind are praying that day of independence never comes. the pension they get of 31,000 is no where near their base salary. Eyes wide shut

    Angryphone

    September 19, 2008 at 9:11 am

  14. I am not sure that bananas can be grown in Quebec. But everything is possible in Quebec. We are distinct. Maybe something like “distinct bananas” in the south of Quebec?

    new quebecois

    September 19, 2008 at 9:59 am

  15. “My take on the bloc. What started out as a protest vote with one seat soon became the official opposition and now is job security for most of these bloc members. If Quebec would have separated in the 1990’s most bloc members would have quit and joined in on the action in the new banana republic of Quebec. However Quebec remained in Canada and all those bloc members now have mortgages, wives, husbands, kids, private schools hence their job as the member of parliament is a means to an end to pay the bills. It would make no sense for them to pack their bags for an independent Quebec. At this point they are preaching Quebec libre to get suckers like the AFG types to lick their envelops but in the back of their mind are praying that day of independence never comes. the pension they get of 31,000 is no where near their base salary. Eyes wide shut”

    Angryphone, whether we agree with their goal or not, the Quebec independence movement is not a bluff. They mean business. Trust me.

    People who, for whatever reason (wishful thinking, arrogance, etc.) persist in seeing it as a bluff are doing themselves (and Canada) a great disservice.

    Acajack

    September 19, 2008 at 10:09 am

  16. On a personnel note I don’t care if Quebec separates. I am not a partitionist. I don’t care about the languages laws. I don’t care how many English schools close or how many people leave. The Quebec-Anglos have done it to themselves. If the English would have stood up for themselves like the French did none of this would have happened. In life you get what you deserve and the Anglos deserve nothing

    Now just because I do not care about the outcome does not mean I will not point out the reality. The reality is this the bloc is using the separatists volunteers so they can have a soft job that they never want to let go off to pay for their fancy lifestyles meanwhile they are educating their kids in maudit anglais. The reality is Quebec will be partitioned by the feds after separation like it or not. The reality is Quebec could not hold it’s own in the short term in the global market place for at least 30 years and will turn into another washed up state. The reality is 1 million tax payers will leave. So if you are 35 years old the next time you see the good years might be when you are 70.

    And yes bananas will start to grow in Quebec .

    If you think this will not happen then I suggest you take an introductory course in economics, accounting, investment and sociology

    Angryphone

    September 19, 2008 at 1:26 pm

  17. “all those bloc members now have mortgages, wives, husbands, kids, private schools hence their job as the member of parliament is a means to an end to pay the bills. It would make no sense for them to pack their bags for an independent Quebec. At this point they are preaching Quebec libre to get suckers like the AFG types to lick their envelops but in the back of their mind are praying that day of independence never comes. the pension they get of 31,000 is no where near their base salary. Eyes wide shut”

    Couldn’t you say the exact same thing about Liberal, Conservative and and NDP MPs?

    angryfrenchguy

    September 19, 2008 at 3:39 pm

  18. Considering what happens now on Wall Street, it seems to me that Canada ( the home of the Brave….the Land of milk and honey Quebec couldn’t breathe without…) will soon grow bananas on the beaches of Toronto. Beware not to slip on it though…

    Kriss

    September 19, 2008 at 3:43 pm

  19. “If you think this will not happen then I suggest you take an introductory course in economics, accounting, investment and sociology”

    Wow! Angryphone. All that’s missing are the seven plagues of Egypt!

    I am not in favour of independence but your scenario is, er, just a tad over-the-top in its pessimism.

    Perhaps I could suggest that you take an introductory course in history?

    Acajack

    September 19, 2008 at 3:43 pm

  20. I disagree with Kriss! Bananas should grow in Quebec! Not in Toronto beaches. ( Seems he wants to sell my idea to the ROC!)

    new quebecois

    September 19, 2008 at 4:14 pm

  21. Ontario’s growth last year was smaller than Québec’s (2.4% v. 2.1%), it’s about to become a equalization receiver, its financial services sector as we know it is about to be completely overhauled in the wake of what just happened on Wall Street and the Auto industry will probably be one of the major casualties of the impeding recession.

    Oakville and it’s SUVs were built on borrowed money and now that money evaporated…

    Guess who’s going to get the blame? The separatists…

    angryfrenchguy

    September 19, 2008 at 4:29 pm

  22. The fear of economic catastrophy was always used against our project of independance. If North-America is in recession for many years, sovereignty might be economically more advantageous for us. Actually Quebec is a society by itself with a strong identity. That will help to pass through a recession. On many aspects, ROC is only the outskirt of USA. It will suffer more because its identity is fragile. It might be economically better for many provinces of ROC to be part of USA. The future is now. Everything changes.

    Kriss

    September 19, 2008 at 4:55 pm

  23. AFG and Kriss like Karl Marx and Friedrich Engels! Two big Quebecois economists! I am proud of them. Of course independent Quebec will pass through recession. No economy – no recession. Socialistic economy – no recession either. Take a look at North Korea – there is no recession. Recession – where economy is. I understand that Ontario is getting worse this year. Lots of problems, high gas prises, stupid American banks, silly government , bad people etc. Economy goes up and down. In Quebec it is impossible!!! Nothing to go up and down. We do not have serious economy, instead we have good social programs Now our Great Leader G.D. is claiming for the extension of a pilot project that grants temporarily unemployed workers an extra five weeks of insurance payments in high unemployment regions. I want to mention: not to create new jobs and attract investors (French speaking of course), but extension. Our Great Leader P.Marois demand welfare indexation! And you people from the ROC want us to be involved in your recession. Impossible! We have another problems

    new quebecois

    September 19, 2008 at 5:45 pm

  24. “The reality is Quebec could not hold it’s own in the short term in the global market place for at least 30 years and will turn into another washed up state. The reality is 1 million tax payers will leave. So if you are 35 years old the next time you see the good years might be when you are 70.”

    Is this what bankers and economists who did such a wonderful job with the US economy and markets this week are telling you?

    angryfrenchguy

    September 19, 2008 at 8:08 pm

  25. Economy is a pseudo-science. Only a reflection on a trouble water.

    Kriss

    September 19, 2008 at 8:20 pm

  26. I was right. These two guys (AFG and Kriss) are the really economist genius. In two short words they explained everything about our economy.

    new quebecois

    September 19, 2008 at 8:29 pm

  27. NQ…you could be a genius too if you just read and think before balbling. No need to be Marx or Engels…just think by yourself.

    Kriss

    September 19, 2008 at 9:58 pm

  28. Angryphone: “On a personnel note I don’t care if Quebec separates.”

    Yet almost everything you posted after this statement suggests the exact opposite.

    You are clearly a propagandist/polemicist who has mistaken himself for an analyst.

    Acajack

    September 19, 2008 at 10:15 pm

  29. The recent events from Wall street and the world capital markets have extreme consequences for both Quebec and Canada (or sorry Quebec is part of Canada…too use to the Quebec and ROC thing I suppose).

    I would think you would consider the “big picture” an not the smaller issues of langauge..or culture…or Quebec vs Ontario.

    As I have said before, it doesn’t really matter in which language you say “I dont have a job, I am bankrupt, etc etc)

    Think about it.

    ABP

    ABP

    September 19, 2008 at 10:42 pm

  30. I fail to see the relevance of that to the theme of the website. That some newspapers have front pages that do not reflect accurately the problems of the world, especially if they are not from big city (Montreal, Toronto) ? That canadian newspapers are doing a bad job of informing us (because contrary to what the federalists here say, AFG post point that most of canadian journals do not put it in front page) ? That canadian, and in particular quebeckers, are not terribly interested by economic matters and do not understand what the subprime crisis and its consequences are ? It’s true that Quebeckers are a bit uneducated compared to americans. And it’s foolishness not to be educated on these matters when the barbarians are out there trying to convince you that yes, the world is flat, and that we were so much better before all these socialists messed with the economy.

    A problem is that often people who are interested in economy are right-wing, but the facts having a left-wing bias, economical discussions have a way to degenerating in rambling about taxpayers money, the benefit of the freedom of the market, Marx/Engel, and how pekiss-syndikaliss are so ignorant of the laws of economics and how we will be so well under a Harper-Dumont regime of small government (the ADQ was still giving Lafer-style arguments for tax-cuts… a couple of decades too late, but nice try). There is a lack of a Krugman-like columnist here in Quebec.

    Anyway, the same day (September 18th 2008) La Presse was giving a full 6 pages coverage in its “Affaires” section, beginning with a full black background on the front page of the section with the main numbers and the titles, and the headline “Wall Street poursuit son déclin” in big bold fonts. So the information is there if you want to read it. If you don’t, then blame yourself.

    Tancrède

    September 20, 2008 at 11:57 am


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