Quote:

 

"He stepped into the worst downturn in 70 years," Mishel said. "The economy was declining at a really rapid rate in the six months before he took office, and six months later, the economy was growing again. So, you could give him some credit for that."

campy

Jan 25 2014, 08:00 PM

Quote:

 

"He stepped into the worst downturn in 70 years," Mishel said. "The economy was declining at a really rapid rate in the six months before he took office, and six months later, the economy was growing again. So, you could give him some credit for that."

It might be true but you can't use the "It's not my fault" clause when you are president.

You wanted the job. You made promises. So deal with it. That's all people care about.

For some reason the Canadian dollar is taking a kicking now against the American dollar.

I paid .12 cents on the dollar lately.

Quote:

 

NEW YORK (MarketWatch) — The U.S. dollar surged against the Canadian dollar Wednesday after the Bank of Canada left interest rates on hold and stressed that inflation could be weaker than expected.
While the central bank left the target for its overnight rate at 1%, as expected, the wording of the statement “clearly signaled” a change in priority toward inflation risks, said Alessio de Longis, portfolio manager of the Oppenheimer Currency Opportunities Fund.

“Inflation is expected to remain well below target for some time, and therefore the downside risks to inflation have grown in importance,” the bank said in its statement. The Bank of Canada is “clearly indicating that it wants to err on the dovish side,” said de Longis.

The bank also raised Canada’s growth forecasts as it expects stronger U.S. demand and the recent depreciation of the Canadian currency to increase exports.

Meanwhile, the U.S. Federal Reserve is expected to further reduce its monetary stimulus at its next meeting, scheduled for next week. The Fed in December determined that the U.S. economy was strong enough to withstand a small withdrawal of stimulus, announcing a $10 billion cut in its monthly bond purchases effective January. The bond purchases are part of the Fed’s efforts to stimulate the economy.

Trotsky

Jan 26 2014, 12:59 AM

I guess when prominent Canadians say they expect a devalued currency to spur on trade, those listening want to be the first to get rid of that currency.

Quote:

 

The steep decline has invited speculation that the country’s new head banker is purposely driving the value lower in the name of economic growth — a pick-up that would specifically be led by the business sector. Since the economic recovery began in 2009 (also the last time the loonie was more than 10 cents cheaper than the U.S. dollar), it has been led by consumers.

The Canadian government has repeatedly called on businesses to pick up the slack on investment, and the falling loonie could be the kick that corporate Canada needs.

And likewise with consumers: The government has been warning households to reign in their debt, which has been hitting record highs in recent years, and a softer loonie may be just what Canadians need to reign in the borrowing binge.

campy

Jan 25 2014, 08:00 PM

Quote:

 

"He stepped into the worst downturn in 70 years," Mishel said. "The economy was declining at a really rapid rate in the six months before he took office, and six months later, the economy was growing again. So, you could give him some credit for that."

It might be true but you can't use the "It's not my fault" clause when you are president.

You wanted the job. You made promises. So deal with it. That's all people care about.

For some reason the Canadian dollar is taking a kicking now against the American dollar.

I paid .12 cents on the dollar lately.

margaret

Mar 2 2014, 12:13 AM

Maybe we need an advocate like Charles Dickens, to show how the poor are treated

Daniel

Mar 1 2014, 02:31 PM

It would be up to the President to shift the tax burden to the top 1% (at least) to ease the wealth disparity. His own inaction will definitely be his fault.