Financial Post: ‘Petro-currency’ limiting Canada’s economic growth
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That government floor worker likely makes more than the average joe, don't 'cha think?
Oh ****..
Canada's Great Economic Divide
Canada no longer knows how to sell anything to the world except oil and gas.
Okay, that’s an exaggeration, but if things keep going the way they are, it won't be for long.
StatsCan’s latest numbers on Canada’s trade balance, released Thursday, look positive on the face of it: Exports and imports both grew, and Canada’s trade deficit with the world shrank by more than half, to $435 million.
But dig a little deeper into the data, and what you see is a story of two different export sectors. As BMO chief economist Doug Porter put it in a client note Friday morning, “there is energy (doing just fine) and there is everything else (doing anything but fine).”
While energy exports have seen a $63.6-billion surplus for the past 12 months, everything else has seen a $72.9-billion deficit.
Check out this chart of Canada's trade balance for energy (blue) and everything else (red).
In a report this week, BMO's Porter called Canada’s stagnating export sector the country’s biggest economic challenge.
“Since 2000, Canadian exports have suffered through their own version of the lost decade, with volumes essentially unchanged over that spell,” Porter wrote.
“To put that in perspective, the next slowest 13-year stretch for real exports over the past half-century was 42 per cent growth from 1970-83.”
Porter notes that manufacturing employment in Canada — which is heavily dependent on exports — has shrunk by 20 per cent since 2000, even as jobs in the rest of the economy grew by a bit more than 20 per cent.
http://m.huffpost.com/ca/entry/4283794
Canada's Great Economic Divide
Canada no longer knows how to sell anything to the world except oil and gas.
Okay, that’s an exaggeration, but if things keep going the way they are, it won't be for long.
StatsCan’s latest numbers on Canada’s trade balance, released Thursday, look positive on the face of it: Exports and imports both grew, and Canada’s trade deficit with the world shrank by more than half, to $435 million.
But dig a little deeper into the data, and what you see is a story of two different export sectors. As BMO chief economist Doug Porter put it in a client note Friday morning, “there is energy (doing just fine) and there is everything else (doing anything but fine).”
While energy exports have seen a $63.6-billion surplus for the past 12 months, everything else has seen a $72.9-billion deficit.
Check out this chart of Canada's trade balance for energy (blue) and everything else (red).
In a report this week, BMO's Porter called Canada’s stagnating export sector the country’s biggest economic challenge.
“Since 2000, Canadian exports have suffered through their own version of the lost decade, with volumes essentially unchanged over that spell,” Porter wrote.
“To put that in perspective, the next slowest 13-year stretch for real exports over the past half-century was 42 per cent growth from 1970-83.”
Porter notes that manufacturing employment in Canada — which is heavily dependent on exports — has shrunk by 20 per cent since 2000, even as jobs in the rest of the economy grew by a bit more than 20 per cent.
http://m.huffpost.com/ca/entry/4283794
Slowing the energy sector will drop the value of our currency. It's directly linked together.
Every other sectors will be at a advantage since we can sell directly to the USA.
One of the worlds biggest market, since our currency would be low, and where right next to them,
We can compeat against other lower value currency markets like China. That need to ship everything Very far.
Without a doubt he makes more than almost anyone else in the city doing the same job or any other Mcjob. THe good workers and many of the not so good have fled to the oifields and mines where they too can make over a$100G a year. WHich is the problem for manufacturing, they depend on low pay to compete. They can get workers, just not many worth having.
You must have got that right out of Tyee snooze. The only thing paying for all our social programs is the taxes generated by boil and gas. Artificially lowering our $$ will make everything you buy that much more expensive.
Can't the gubmint just stop all mining, oil/gas, forestry an fishing and just get a loan to pay for the social programs?
Funny how.
Our rising currency never dropped the prices of anything.
As for our social programs? Are you retarded? They where being payed by all the other sectors before energy totally took over, and flatlined the rest of the economy.
If energy sector is up 69% and every other sector is down 72%
Explained to me how this is the best progress for Canada.
In my example our economy has slowed by a total of 3%
How is that progress for Canada as a whole country?
It's not. Period, and it's the perfect example why we need to split our country in two to benefit both parts.
Actually our social problems were being paid for by debt for decades. You need to learn a bit about economics before you go swallowing claptrap produced by people with their own agenda.
May for sure... Shiny pony will have to host a bunch of ladies-only cocktail parties before he states a position.
btw - Forgot to ask you earlier, what's your favorite virtue?
Canada can buy foreign produced goods (which Canada relies on) relatively cheaper with a stronger dollar.
You want a weaker dollar, you'll definitely see the ticket prices go way up in the retail environment
Take a look at the health of those 'other' sectors... Don't tell me that you are of the opinion that they would have remained static in terms of their economic health relative to global trade and economics
That happens during a recession
Compare that # to other (Western) nations and see where the median is at
Shiny Pony already stated his position on resources. It's the same position Harper carried over from Martin.
Ok then don't sit there and lie to us and say the energy sector is paying for our scotial programs. Cause we still paying them with dept today.
*** for tat.
I say split canada in two different currency. West/East Problem solved end of discution.