Thank you, Mr. Chair.
Just briefly, I'm really perplexed and frankly disturbed that we have not learned the lessons from our mistakes in the seventies and eighties. I think Mr. Cross mentioned—or someone mentioned—the John Crow disinflation, which was extremely painful. We had that in Canada. The U.S. had fixed their problem by that point.
The kinds of ideas being talked about—wage and price controls and so forth—only make the problem worse. Again, it's the simple.... The ideas really are simple. We have to have sensible regulation that protects consumers, obviously, but doesn't stifle business; sound monetary policy, which has been sorely lacking—and now we're paying the price for a decade or more of loose money; and sound fiscal policy. We've had reckless fiscal deficits, so it's not that hard to figure out.
I'm afraid that we seem to have unlearned the lessons of the seventies and eighties. It's really quite perplexing.