Posted: Wed Sep 26, 2007 6:47 pm Post subject: Canada's PM takes shot at Bush over trade , foreign policy
At times, Canada's dealings with the U.S. seem to strained. For instance, just recently, a U.S. law or regulation was enacted that promotes favoritism toward U.S. suppliers of transit equipment. Its like they forgot about NAFTA, which prohibits this.
For many years, we've had the trade fight over soft wood lumber.
Now, the U.S. seems to be going backward on deals made to include Colombia as a new free trade partner.
Prime Minister Harper came out against these today, see Toronto Star: "Focus on nationalism hurts economic ties"
"Canada's relationship with the United States is stalled thanks to an "unhealthy" trend in the U.S. toward nationalism and away from deeper economic ties, Prime Minister Stephen Harper told a prestigious foreign policy think-tank here yesterday.
He said he was "deeply concerned" that the political discourse in the U.S. had been infected by "populism, protectionism and nationalism in an unhealthy sense."
His candid comments came in an analysis of the Canada-U.S. relationship, one that Harper said is "the closest ... probably of any two countries in history."
The Prime Minister delivered a speech and took questions for more than an hour from the members of the Council on Foreign Relations, a non-partisan organization and resource for foreign affairs discussion.
In his speech, Harper emphasized the "shared values" of Canada and the U.S. ...
Harper said the U.S. focus on "national sovereignty and national borders" have limited the prospect of deeper trade ties. On issues like the U.S. law requiring passports to be presented at the border with Canada – one that MPs say puts the country's economy in jeopardy – Harper said he would continue to put up a fight to ensure "that we don't go backwards."
"Any talk of deepening NAFTA or strengthening trade relationships on this continent is not gonna happen in the immediate future," the Prime Minister said.
He used Colombia as an example, noting that the U.S. Congress recently blocked a free trade agreement proposed by Bush because of concerns over the country's human rights record. Harper travelled this summer to Colombia to meet President Alvaro Uribe and formally launch free trade talks."
It just seems to us as Canadians, that our interests are often ignored, despite the NAFTA accord. I think the European Free Market works better for participants, perhaps as there is an over-riding body, an umpire, as it were.
Joined: Oct 18, 2004 Posts: 1927 Location: kiwibush
Posted: Wed Sep 26, 2007 10:48 pm Post subject: Re: Canada's PM takes shot at Bush over trade , foreign poli
Shared values....hahaha. Why is it that thieves who have so much in common have to parade their love affair. _________________ Bugger me, I hear oil's runnin out mate!
Posted: Wed Oct 24, 2007 6:03 pm Post subject: Goldman Sachs Bank of Canada Takeover
Congratulations to Goldman for it's takeover of the Bank of Canada.
Paulson is a Goldman man.
Mark Carney is a Goldman man.
"Carney, 42, will be only the second outsider to run the central bank since it was formed in 1934. Most economists surveyed by Bloomberg News expected Senior Deputy Governor Paul Jenkins, a three-decade veteran of the bank, would get the job. Finance Minister Jim Flaherty made the announcement today."
Posted: Wed Oct 24, 2007 10:04 pm Post subject: Re: Goldman Sachs Bank of Canada Takeover
Set up for the amero? I wonder if they don't care how much the US dollar drops, they'll just replace it and tell everyone its necessary to save their economy.
Posted: Thu Oct 25, 2007 10:36 am Post subject: Re: Goldman Sachs Bank of Canada Takeover
FireJack wrote:
Set up for the amero? I wonder if they don't care how much the US dollar drops, they'll just replace it and tell everyone its necessary to save their economy.
Replacing the loonie with the amero will not go over well with canadians if its to save the US. First the Canadian dollar will have to be massively debased so that it will be necessary to "Save our economy"
The fact that this guy is rubber stamped in after Harper stacks the board of directors is very telling at how much there is going on behind the scenes to force the North American Union into place.
All just more reasons why I should make sure my PO future is not on this continent.
edit---
btw, its nut just us PO nutbars that are noticing this setup. I was surprised to see Jim Willie make comment about it in his Latest Financial Sense post which was not even about Canada or Carney's Assention _________________ Angry yet?
Posted: Tue Dec 04, 2007 3:01 pm Post subject: Canada Cuts!
Competitive currency devaluations? A race to the bottom? Goldman has their man in the US treasury, and Goldman has their man in the Central Bank of Canada.
Joined: Sep 25, 2004 Posts: 4542 Location: Boston, MA
Posted: Tue Dec 04, 2007 3:43 pm Post subject: Re: Canada Cuts!
mattduke wrote:
Competitive currency devaluations? A race to the bottom? Goldman has their man in the US treasury, and Goldman has their man in the Central Bank of Canada.
Don't forget that more than 80% of Canadian exports go to the USA.
A rapid increase in the value of Canada's currency wrecks havoc with their economy. _________________ "www.peakoil.com is the Myspace of the Apocalypse."
Joined: Sep 29, 2004 Posts: 2330 Location: Pennsylvania, USA
Posted: Tue Dec 04, 2007 7:46 pm Post subject: Re: Canada Cuts!
It appears that the fed strategy is starting to work. However, Canada isn't the target, the EU is. The US wants the EU to quit trying to challenge the dollar for reserve currency status and get back on board with what is in the best interest for an export driven economy; a cheap currency. _________________ "That's the problem with mercy, kid... It just ain't professional" - Fast Eddie, The Color of Money
Joined: Feb 20, 2005 Posts: 2786 Location: Uppsala, Sweden
Posted: Tue Dec 04, 2007 9:26 pm Post subject: Re: Canada Cuts!
Kingcoal wrote:
It appears that the fed strategy is starting to work. However, Canada isn't the target, the EU is. The US wants the EU to quit trying to challenge the dollar for reserve currency status and get back on board with what is in the best interest for an export driven economy; a cheap currency.
First of all, the EU is not an export driven economy. Sure, individual states are, but so are Connecticut and Rhode Island... The EU is probably even less reliant on exports than the US is.
Secondly, even if you are an exporter, it's best to have a strong currency. It forces you to increase your competitiveness. Witness Germany, capital goods exporter par excellence (even if mostly to the rest of the EU) and the very strong Deutschmark, today replaced by the very strong euro. If having a weak currency was good for exporters, devaluations would be the golden road to wealth. Which is of course an absurd idea.
A strong currency comes from having a strong and well managed economy, which is the explanation for the weakness of the dollar.
The euro will become the new reserve currency. This will get the Brits scrambling to join the EMU, but I'm not sure they are welcome anymore... _________________ Peak oil is not an energy crisis. It is a liquid fuel crisis.
Posted: Tue Dec 04, 2007 10:32 pm Post subject: Re: Canada Cuts!
This sets the stage for a U.S. cut next week. Canada cuts by 0.25. I think U.S. will cut by 0.5. Race to the bottom indeed. In October, some financial gurus were recommending buying the Canada $ to escape the falling U.S. $. Canadian $ ran up to as high as CDN$1.0 to US$1.10 in November. Now it's down from that high by more than 10% in just a few weeks, ouch! _________________ UFO pilot: "Captain, our calculation shows planet earth won’t survive another 50 years at this rate of consumption. Why have the humans not noticed this?" UFO Captain: "They can only see one quarter ahead of time." -JVancouver
Joined: Jun 25, 2005 Posts: 257 Location: British Columbia, Canada
Posted: Tue Dec 04, 2007 11:23 pm Post subject: Re: Canada Cuts!
I kick my butt. I almost had myself convinced to convert every cent I could scrape together to US dollars when it was nudging 1.10, but I chickened. Almost 11% in a month would have been a decent return.
Joined: Sep 25, 2004 Posts: 4542 Location: Boston, MA
Posted: Wed Dec 05, 2007 12:03 am Post subject: Re: Canada Cuts!
Not to make this thread about the Euro, but all EU countries are required to join the Euro as mandated by EU Law.
Fortunately, the Commission is full of folks who will not enforce their own laws in this regard.
Otherwise, the addition of the much weaker eastern European economies (as well as the current account deficit loving British) would dramatically lower the value of the Euro.
The EU-25 has a net trade deficit and a net budget deficit.
The addition of Romania and Bulgaria (EU-27) only made the picture worse.
Canada, on the other hand, has both a budget surplus and a trade surplus.
This translates into a current account surplus which is strengthening its currency. _________________ "www.peakoil.com is the Myspace of the Apocalypse."
Posted: Wed Dec 05, 2007 12:29 am Post subject: Re: Canada Cuts!
oiless wrote:
I kick my butt. I almost had myself convinced to convert every cent I could scrape together to US dollars when it was nudging 1.10, but I chickened. Almost 11% in a month would have been a decent return.
That's interesting, oiless. I had exactly the same thought but chickened out, too. _________________ UFO pilot: "Captain, our calculation shows planet earth won’t survive another 50 years at this rate of consumption. Why have the humans not noticed this?" UFO Captain: "They can only see one quarter ahead of time." -JVancouver
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