Canada’s Economy Trying To Dig Out From Commodities Hole

[mentalfloss]

Canada’s Economy Trying To Dig Out From Commodities Hole

It is unlikely that Fed Chairwoman Janet Yellen would have postponed an interest rate hike just based on the direct China-U.S. trade relationship. But China trades extensively with Mexico, and particularly with resource-rich Canada.

And if our neighbors’ economies are hurting, the U.S. will be affected. Mexico accounts for 15% of U.S. exports and Canada accounts for nearly 20%.

As Yellen noted during the press conference following the Fed’s September meeting, Canada is “an important trading partner of ours that has been negatively affected by declining commodity prices, declining energy prices.”

Woe Is Canada

In fact, Canada is in its first recession since 2008. In the first quarter of 2015, the economy shrank 0.8%. The second-quarter gross domestic product shrank by 0.5%. A recession is defined as two consecutive quarters of negative economic growth.

The Bank of Canada cut interest rates twice this year in an effort to stimulate the economy. Canada’s key rate now stands at 0.5%.

But that only accelerated the downward move of the Canadian dollar. Nicknamed the loonie, it’s down 14% so far this year. More importantly, the loonie is now at an 11-year low versus the U.S. dollar. Its travails can easily be seen by a glance at the performance of the CurrencyShares Canadian Dollar Trust ETF (NYSEArca: FXC).


And thanks to the continuing drop in commodity prices, Canada’s economy is still sputtering. That’s because energy and mining make up about 17% of the country’s economy.

One needs to look no further than the oil-rich province of Alberta. It is projecting an all-time high budget deficit of CA$5.9 billion. That could grow to CA$6.5 billion if oil prices remain low.

Alberta is emblematic of Canada’s dilemma – oil is its largest export. In March, Bank of Canada Governor Stephen Poloz described the oil price as “atrocious.” With prices even lower, I wonder what adjective he would use now.

http://etfdailynews.com/2015/10/08/canadas-economy-trying-to-dig-out-from-commodities-hole/

 

[darkbeaver]

Canada: The Cover-Up and Steal of Another Election. The Harper Corruption of Canada and Opposition Fear to Name It



The Memory Hole of Continuous Proven Fraud over Nine Years
Canadians are within a few days of stopping or allowing the Harper regime to continue to destroy the democracy and life fabric of Canada. But the dots are taboo to connect. The PR-led opposition has joined the corporate media in a public stage ritual of forgetting. The endless lies, election cheats, and bullying abuses through nine years of PMO civil destruction go scot free.
The Harper regime has cheated or stole every election. Yet not even the Conservative robo-call fraud to deprive up to 500,000 citizens of their votes in the 2011 election has been raised in the official campaign. No-one on stage remembers any of it


From Fraud, War against Science and Dispossession of the Poor to tthe Niqab Sting
Fraud, war against public knowledge, and dispossession of the poorare the hallmarks of the Harper regime exposed in many forms off stage from an aroused Canadian public. But they are amnesiac in the official campaign. They continue with impunity and the tacit support of official opposition silence. The clear majority of citizens loathe the man destroying Canada’s common life substance and identity. But the pathological meaning is taboo to name on the public stage.
In the turning point

Thus a total diversion to a sectarian demand in citizenship oath itself succeeded. It completely switched the life-and-death of the 2015 election to an unconscious visceral plane where emotional knee-jerk was guaranteed – the master psych-op of the Harper regime. The fact that the issue is still before the courts known to rule against Harper over-stepping laws of every kind was ignored. But Harper rule won again by appeal to the knee-jerk unconscious of the masses.
This is in fact the crypto-fascist key of all Harper public appeal. Play the primeval fear card and step up PMO command to stop the fabricated danger to the country. Transnational attack dog Lynton Crosby, “master of the dark arts of dirty politics”, was on hand to orchestrate the diversion in the midst of a losing election. Simultaneously Harper’s-re-jigged Election Commission overrode the Election Act that says no non-Canadian may “induce anyone to vote” one way rather than another. Anything goes in this regime of corruption all the way down.
The Underlying Grammar of Amnesia and Illusion
The underlying d


The deciding force is private money, but this too is taboo to speak on the public stage. So is is the predictable result. Those who control more money more fund the party that wins even it cumulatively destroys the collective life capital of society and world.



This is the design of Harper’s Orwellian ‘Fair Elections Act’, excluding all those without an official identification resident address – in short, the poor and native citizens. Buttressing this fix of the election, Harper rule redefines electoral boundaries at the same time so that his party picks up an extra 22 seats, compared to the NDP and the Liberals adding six and two seats respectively. The riggings and frauds never stop. In the dominant value system, the underlying formula is that more money in private pockets is the final good. Worship of riches that contribute no life function and increasingly pollute and deplete the world are kept out o


This is one way in which the Harper regime reduces the country to a looting basin for borderless corporate market vehicles. His “economic record” never deviates from this outcome, but this again is taboo to say in the campaign. Mass ignorance rules along with absolute power to command. But no-one names the game. What distinguishes the Harper regime, from prior administrations is its war on public knowledge and democracy at every plane – its market-fascist logic. But who thinks through the meaning of every step? None is seen or connected on stage. Aan Orwellian propaganda field is the ocean to the voters and citizens surrounded by it.



he Harper Corruption of Canada Spreads by the Taboo Against Naming It. Even the official opposition with the most progressive tradition of the three major parties has played the corporate-ad game instead of naming the proven despot, liar, and fraud in the PMO. As in BC in 2013, the NDP snatches defeat from the jaws of victory by empty advertising logic with no life substance. And as with Jack Layton who first let the fanatic Harper in the door by attacking only Liberals in the 2006 debates, the NDP is too busy going after Liberals to expose the usurper destroying the country.
A narcissism of small differences prevails, with the Liberals now outflanking the NDP to the left. The NDP






Consequences follow. The Harper regime has not only torn up the Kyoto Protocol. It has closed down scientific monitorings of everything from freshwater fish and contaminants to unique carbon load detectors, fired 2000 federal scientists, shut down and destroyed public archives of fisheries and oceans, prohibited any public communication of scientific information by those remaining, and abolished habitat-protecting laws 99% of Canada’s waterways.


Tracking the Beast Not Named
We need to recall out of the memory hole of all that has been forgotten in the 2015 election what d


As for foreign affairs, Harper’s attack-dog regime has been by far the most war-mongering administration in Canada’s history. It has declared without any evidence Iran as the “greatest threat in the world” while applaudingd the continuously war-criminal actions of the Israel state. It has led the NATO bombing of once thriving Libya to irreversible ruin. It has jumped to recognise the violent and neo-Nazi-led coup in Ukraine and blame Russia for the resulting civil war and failed state. It has constructed endless false claims of Islamic terror threats and rushed to bomb in the Middle East to “stop ISIS” in ignorance of its Saudi-CIA funding, arming and creation. It has completely reversed Canada’s tradition as a peacemaker nation, voted off even the UN Human Rights Commission.

The Cover-Up Not Seen
Marketing elections run by private money for private money can override or silence all that a society needs fo


Do You Trust this Man?
The electoral opposition to the Harper regime’s decade of society destruction and transfer of public wealth to the rich has one more big lie to consider. Just 12 days before the election, it was announced that the TP

Masked in the absurd slogan of “free trade” which is free for none but transnational corporations – and why they always love it – no media challenges this deranged mind-set any more than its big advertisers. And

ust as Brian Mulroney did before him with NAFTA promising “jobs, jobs, jobs” when 500,00 secure manufacturing jobs with living salaries and benefits were soon destroyed in fact. The Harper regime has already lost 400,000 jobs under its watch. But the TPP will disemploy more than that when race-to-the-bottom Asian wages, safety, financial and environmental regulations are available to transnational corporations and banks to feed on at the eCanada: The Cover-Up and Steal of Another Election. The Harper Corruption of Canada and Opposition Fear to Name It | Global Research - Centre for Research on Globalization

 

[Walter]

Another utter crap thread.

 

[Locutus]

well certainly his usual Canada-hating troll variety anyway.

like I said, this spaz must be hoot at parties. or beat up a lot. :lol:

 

[darkbeaver]

well certainly his usual Canada-hating troll variety anyway.

like I said, this spaz must be hoot at parties. or beat up a lot. :lol:

Nobody hates Canada like Harper and his mindless goons.

Another utter crap thread.

Would you like to do some fact checking? I don't think so. You'll be surprised how fast Harpler can get your children into this blooming war Walter. I hope that never happens to your kids by the way. But it will happen to hundreds of thousands of young Canadians and we can thank all the faux capitalist like you who supported this deviant piece of work.

 

[Cliffy]

Nobody hates Canada like Harper and his mindless goons.

Would you like to do some fact checking? I don't think so. You'll be surprised how fast Harpler can get your children into this blooming war Walter. I hope that never happens to your kids by the way. But it will happen to hundreds of thousands of young Canadians and we can thank all the faux capitalist like you who supported this deviant piece of work.

Wally and Loc can't handle the truth about their hero. That is why they try so hard to discredit those who speak against him. Harper is destroying this country for his international puppet masters.

 

[darkbeaver]

Wally and Loc can't handle the truth about their hero. That is why they try so hard to discredit those who speak against him. Harper is destroying this country for his international puppet masters.

Well these IPMs I suppose could have the best interests of the whole of humanity in thier hearts and perhaps they truely do know how to preserve and protect our species, perhaps we are wrong to be suspicious, maybe we have been poorly educated. We should give them the benefit of doubt. Oh look over there, it's that damned unicorn at my flowers again.

 

[Locutus]

Nobody hates Canada like Harper and his mindless goons.

 

[darkbeaver]

Stop you'll get my strings in a knot.

 

[Locutus]