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Thread: Economic update

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    Financial Advisor ashedfc's Avatar
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    Energy (gas) very important aspect of our economy; & a lot is dependent on its price..
    an interesting video just came in (must watch) though the details are from US, but Canada is no different.

    http://www.youtube.com/watch?v=FcP3f...layer_embedded

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    Commodities provide opportunity for all if developed wisely: Carney


    OTTAWA - Canada has a monumental opportunity to profit from a commodity price "super-cycle" that will last for years, says Bank of Canada governor Mark Carney, and all regions of the country can prosper.
    In an event at Ottawa city hall Friday, the bank governor spelled out in greater detail his views on Canada's economy of the future, where commodity exports to the emerging world plays a central role, but opportunities spread beyond the oil-rich West.
    If Canadians develop their commodity riches well, adding value through development of energy- efficient technologies, the country has a bright future in the new 21st century economy, he said.
    "We are in a demand driven commodity super-cycle ... (and) in our opinion this is going to go on for some time," he said.
    "In a world where commodity prices are going to be elevated, it's better to have commodities."
    Carney has talked about "broadening" and "deepening" Canada's commodity play on several occasions in the past few weeks, but Friday's presentation to about 300, including Ottawa business executives, was his most expansive and suggests he is warming to the subject.
    As he told a Senate committee on Wednesday, most of the decisions that would put Canada in position to benefit from high commodity prices rest with the private sector. But his advocacy for "sustainable" development also appears a subtle prod on governments not to overlook the importance the green economy.
    "Sustainable development obviously (requires) a variety of appropriate environmental regulations...these are decisions for federal and provincial governments," he said.
    "What is clear is that the emerging market opportunity is far broader than in the commodity opportunity."
    Canada needs to take advantage of the opportunity presented by the profound urbanization taking place in the emerging world, particularly China and India, that will keep demand and prices for resources high, he said.
    He added that direct exports of oil, gas and minerals is only the starting point. There are also tremendous opportunities to add value to resource extraction, by developing green technologies and efficiencies that can benefit Canadians at home and be exported.
    "When you think about energy efficiency ... in terms of green technology, energy efficiency, building efficiency, these are things necessary here given (high) prices, but they are massive export opportunities," he said.
    "Our calculations are that about 85 per cent of the resource productivity opportunities that measure in the $3-$5 trillion range over the next couple of decades are resident in emerging markets."
    That's why, he said, he has been urging Canadian corporations to look to emerging markets, since the U.S. and Europe will be hobbled by debt problems for years.
    Currently, they are too heavily invested in advanced economies, shipping 85 per cent of exports to the slow-growing world and only eight per cent to the fast-growing markets.
    While the West and other resource-rich regions will be the biggest winners, the rest of Canada can also get in on the bonanza, he said.
    Manufacturers in the East can capture some of the wealth by supplying capital equipment and engineering services needed in resource development. He noted that currently one in 12 of the supplies going into the oil sands come from Ontario.
    And a "substantial" proportion of wealth is spread across the country through Ottawa's taxing of corporations and workers in the resource sector, he added.
    "Don't forego these commodity opportunities, they are going to persist, this isn't a temporary thing," he said.
    On current economic conditions, Carney reasserted his belief that the Canadian economy will grow by 2.4 per cent this year and next, but that risks remain.
    In particular, he said while Europe is expected to emerge from its double-dip recession in the second half of 2012, the continent faces a long, slow recovery. Before it emerges from his its debt quagmire, he predicted European workers will need to accept "real wage reductions."
    The U.S. is moderately better off, he said, but its recovery will be the weakest since the Great Depression because it will take years to rebuild household wealth lost during the crisis.
    Last edited by ashedfc; Fri, Apr 27th, 2012 at 07:13 PM.

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    Big 5 Canadian Banks received a bailout of 114 billion $ in the financial crisis..




    The official story of the 2008 financial crisis goes like this: American and international banks got caught placing bad bets on U.S. mortgages and had to be bailed out. But not in Canada. Through the financial crisis, Canadian banks were touted by the federal government and the banks themselves as being much more stable than other countries’ big banks. Canadian banks, we were assured, needed no such bailout.

    However, in contrast to the official story Canada’s banks received $114 billion in cash and loan support between September 2008 and August 2010. They were double-dipping in not only two but three separate support programs, one of them American. They continued receiving this support for a protracted period while at the same time reaping considerable profits and providing raises to their CEOs, who were already among Canada’s highest paid. In fact, several banks drew government support whose value exceeded the bank’s actual value. Canadian banks were in hot water during the crisis and the Canadian government has remained resolutely secretive about the details.

    It should be noted that the “Extraordinary Financing Framework” was prepared to spend up to $200 billion to aid the banks and other industries. In other words, while the sums reported in this report are enormous, there were even more funds to be disbursed if the banks needed them.

    Source http://www.policyalternatives.ca/sit...tions/National Office/2012/04/Big Banks Big Secret.pdf
    Last edited by ashedfc; Tue, May 1st, 2012 at 05:30 PM.

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    It’s Official: Economy Heading Down
    There has been so much bad economic news out, recently, I do not see how anyone with half a frontal lobe could say the economy is not in trouble.
    http://usawatchdog.com/its-official-...-heading-down/



    Malawi devalues its currency "Kwacha" by 33%
    (imagine those who have stashed money in the bank account: all just lost 33%; compared to those who have in Gold, as Gold investors just stayed at par or even gained by the inflationary Gold price increase in Kwacha..
    http://www.bbc.co.uk/news/world-africa-17982062

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    Economic Alert: If You’re Not Worried Yet…You Should Be



    http://www.alt-market.com/articles/7...tyou-should-be

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    Citi Bank’s Buiter: Time for 'Helicopter Money Drops'

    http://www.cnbc.com/id/47364152

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    A glimpse of what happens during hyperinflation (in Germany in early 1920's)..
    US is following almost similar policies; so why should the outcome this time be different.....
    & if not are we prepared for high inflation (or hyperinflation)

    http://www.youtube.com/watch?v=lfwIXdOoWiE

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    Good stuff Ash...watched another clip on the same page that states we should be prepared for a depression or hyperinflation

    http://www.youtube.com/watch?v=3_jvL...eature=related

    Now I wonder which way were we`re going, or are we going to experience both? Like does hyperinflation trigger a depression? while Germany faltered with hyper the U.S. had the roaring 20`s and the U.S. had a depression w/o the hyper.??
    Last edited by newb; Fri, May 11th, 2012 at 10:04 PM. Reason: more info
    The voices in my head may not be real, but they have some good ideas!
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    searching for answers i_forget's Avatar
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    I am going to pick hyperinflation and then depression......only because I think that the US government is going to try to protect their buns before everything kisses the crapper again.

    The only question I have, is what area is safe to dump your money in to ride out the storm? Healthcare?

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    Quote Originally Posted by i_forget View Post
    I am going to pick hyperinflation and then depression......only because I think that the US government is going to try to protect their buns before everything kisses the crapper again.

    The only question I have, is what area is safe to dump your money in to ride out the storm? Healthcare?
    Both are very destructive & will destroy a lot of human lives (by desperation & poverty), so much so that generations will remember. It has happened in several countries, & US shouldn't be any different.

    Focus on protecting your purchasing power (that way you will stay ahead, no matter what); Good quality food is very imoportant. Protyect your health (thats thge most important asset you have).

    Watch this video link (it was given in Sept 2003)
    http://www.youtube.com/watch?v=FIux4...layer_embedded
    i_forget likes this.

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    Biggest Casino in the World (Played by Banks) with your money, the "World of Derivatives"

    keep in mind "the entire World GDP is only 60 odd trillion dollars, & watch the size of the game these bankers play with our money (that is exactly why a small error can wipe out a lot of wealth). JPM Morgan just did that error & the loss is already $2 billion, & still counting.. its expected to total about $5 billion dollars..

    Check this http://demonocracy.info/infographics..._exposure.html
    Last edited by ashedfc; Sat, May 19th, 2012 at 03:48 AM.

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    Thanks for the updates Ash. ............12 yr old figured it out.....
    http://www.youtube.com/watch?v=Bx5Sc...layer_embedded
    The voices in my head may not be real, but they have some good ideas!
    I have nothing to do today and hope to be half done by noon.

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    Financial Advisor ashedfc's Avatar
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    Quote Originally Posted by newb View Post
    Thanks for the updates Ash. ............12 yr old figured it out.....
    http://www.youtube.com/watch?v=Bx5Sc...layer_embedded
    True, nweb... this 12yr old girl is amazing (problem is rest of the population have no clue what she talking about)..
    I have posted this on SC on 18th April 2012 (the next day of her speech).. here is the link
    http://forum.smartcanucks.ca/288736-...system-canada/

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