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Canada begins tracking U.S. into slump

HEATHER SCOFFIELD and

From Wednesday's Globe and Mail

Latest comment posted at 10:16 PM EDT 18/03/08

Forecast expected to show slowdown happening at the same time and to the same extent as the U.S. ...Read the full article

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  1. The Oracle from Caiman Islands, Canada writes: 'All truth passes through three stages. First, it is ridiculed. Second, it
    is violently opposed. Third, it is accepted as being self-evident.' -
    Arthur Schopenhauer (1788 - 1860)
  2. Mike Mazza from Barrie, Canada writes: Let the dollar rise. It is for our good!!!
  3. Johnathan Williams from Hamilton, Canada writes: Conservatives and the SPP persue the Amero $
  4. Michael Kalus from Canada writes: Mike Mazza from Barrie, Canada writes: Let the dollar rise. It is for our good!!!
    --------------

    Actually yes. Want to venture a guess how much you'd be paying for gas and food right now if the Canadian Dollar hadn't appreciated this much?

    The problem for Canada right now lies in the short sightedness of it's leaders, both in industry and in politics. Instead of trying to find markets OTHER than the US it was just too convinient to bet on a weak dollar and an always hungry US market to dump goods into.

    It the hope now is to 'weather it out until the US gets better' people may want to reconsider this, the smarter way would be to diversify and find other trading partners outside the US.
  5. Eric from Reno, Nevada from United States writes: Although I don't wish any of the turmoil we've had down here on any of you up north, I'm happily anticipating a devaluation in the Loonie. The lower it goes, the longer I can visit you this summer, which is a good thing for you, because I'm nice, I tip well, and I don't litter. Seriously I think this is just a case of what goes up must come down. If your planning on a vacation, or on buying some real estate in the USA, you should firm up your plans now before you miss the inexpensive opportunity.
  6. Travlaki Souvlaki from Vancouver, Canada writes: So much for all the ridiculous talk about decoupling.

    Now we'll just see how much longer before the long-overdue housing crash comes. Interest rate cuts might hold it back a little bit, but once the rush to get out of real estate starts there will be no stopping it. And then we'll be reading about how (omigod, who knew?) when housing becomes unaffordable, people stop buying it.

    Get yer asbestos underwear on. We're in for a rough spot.
  7. Michael Kalus from Canada writes: > Get yer asbestos underwear on. We're in for a rough spot.

    You're version of the Quebec Stimulus package? ;)
  8. J Taylor from Centra Alberta, Canada writes: Suggest that you buy US dollars and put them in the bank. Most Cdn banks have US savings accounts you can open. Not only will you benefit when the Cdn $ goes down, by buying US $'s you help the Cdn $ down. FYI - 20% of manufacturers in Canada account for 100% of the exports. The other 80% of manufacturers in Canada sell in Canada so the $ has no impact on their sales. It is mainly the Automotive sector that is hurting, with a big impact on lumber industry as well. No matter what the Govt.s do, there is no way they can force people to buy new cars, especially the big 3 cars. For the lumber group, nothing govt. can do here either as the housing industry in the US is brutal. Right now there is 12 months of inventory of houses unsold in the US. Bright light is the housing growth in Canada, again will not be impacted by the Cdn. $. Industries are changing, just cannot change fast enough. Exports to the US have been declining as a % of our total over the last 5 years and will continue to go down. I would be willing to bet that we will not go into negative growth in Canada in any of the quarters this year and growth will surprise the guys at TD Bank. The TD bank has consistently under forecast growth in Canada for decades and this is no different. It seems to be their strategy, under forecast and be 'surprised' when the economy outperforms.
  9. george miller from naples fla, United States Outlying writes: Canada could never compete with the USA with an equal dollar.
    60% of the working population working for the Govt whose employees will get a pension for life where the paying canucks will never be able to retire. Never mind comparing yourselfs to the US with every issue but look at were your country is going. Example quebec, caledonia, poor health care, high taxes (health care $900 extra) largest city is broke, grid lock in a small area and a country of 5 parties were fools worse then the we have (maybe) get elected
  10. garlick toast from Canada writes: here in the [real]east,pulp mills are closing one after another.the high dollar killed our xmas tree industry.good thing we've got the seal hunt
  11. Michael Kalus from Canada writes: george miller from naples fla, United States Outlying writes: Canada could never compete with the USA with an equal dollar.

    -----------------

    You do know that most of the US GDP is created by consumer spending (including house buying) and the US is running a record trade deficit for decades now? If anything the way the US is run is a good example on how NOT to run a country or an economy, there is nothing really there at real value.

    The fact that the USD was the de-facto World Currency, that commodities and goods were priced in USD has, in the past, given the US a unique position in the world, they basically got something for nothing, after all they could always print more money if they needed it, but they didn't really, because where could they all spend the money but IN the US?

    Canada needs to stop staring south for an answer to it's problems and look into itself and other places. A 'It works in the US so lets do it here' is the worst that could happen.

    --------------
    george miller from naples fla, United States Outlying writes: a country of 5 parties were fools worse then the we have (maybe) get elected
    ---------------

    That's probably the only thing that so far has prevented a wholesale of the Country trying to follow the US 'example.

    The next 10 to 20 years will be interesting, both sides of the Border.
  12. Alastair james Berry from NANAIMO, Canada writes: Canada has been debasing the value it's currency DELIBERATELY and steadily since the last atom of silver was drained from our coins in the ' late sixties' and the Royal Canadian Mint started producing NICKEL COPPER coinage............ Why did CANADA DO THIS???...........Because the INFLATION OF PRICES it produces IS IN EFFECT A CAPITAL LEVY THAT DRAINS (STEALS!) VALUE OUT OF THE CITIZENS SAVINGS AND PAY- PACKETS, transferring the proceeds to OTTAWA'S COFFERS!! Sure you hear about the Bank of Canada keeping inflation 'under control', and Politicos too, bandy figures about........like 5% inflation is 'ACCEPTABLE IN A MODERN WORLD'........ but this is TANTAMOUNT TO STEALING 5% of your savings and pay ANNUALLY!! Harper desperately needs Ontario and Quebec voters so HE LISTENS TO McGuinty and Charest WHO SAY OUR LOONIE is still 'TOO STRONG' when it has lost 98% of it's value(in purchasing power) in the past 2 or 3 decades! RACING TO THE BOTTOM WITH THE USA IS FOLLY............ZIMBABWE has won the race already BUT THE U.S. GREENBACK and the CANADIAN LOONIE AIM TO BE CLOSE RUNNERS UP! Inflation fires are already burning bright........ and all this debasing of the LOONIE by producing BILLIONS upon BILLIONS of them the easing of credit in the face of rising inflation IS UNMITIGATED INSANITY!
  13. Andrew Toth from Canada writes: To all the comments here from my United States neighbours; God Bless America. Your nation buys 80 percent of what we manufacture, thankyou for that. If you didn't where would our $ be. Maybe back there at $0.65 USD, those were nice days, eh. When 9/11 happened and the border was locked down; Canada was in a pinch, I recollect it taking that BBQ part I needed from Denver almost 3 weeks to get here. Yes, best price was at Wal Mart, ever heard of that store.? Do me a favour, just keep the USD there for awhile more while I can accumulate some of them; I fear the Democrates will shred NAFTA. Then all Canadians who what the .65 loonie back will have it. God Bless.
  14. garlick toast from Canada writes: Alastair james Berry from NANAIMO,when was sanity ever a criterion for the BIG GUYS? they all look each other over and say ''yup, you're sane,how 'bout me? as long as everybody goes along with the big lie,everything's fine,until it isn't.
    the real kicker in this is that the careful savers who exercise self-control will either get smacked by inflation or if interest rates go up,see their real estate holdings lose their value when every other house on the street is for sale.
    one trader a few weeks ago said jokingly[or not] invest half your money in gold, the other half in guns and canned goods.
  15. james macdonald from Edmonton, Canada writes: ''God Bless America''

    Please keep realestate prices low. I am saving U.S. dollars to buy a condo in Miami.
  16. garlick toast from Canada writes: # james macdonald from Edmonton, Canada writes: ''God Bless America'' Please keep realestate prices low. I am saving U.S. dollars to buy a condo in Miami. -------------------------------------------- wait a year,you can buy miami.
  17. Andrew Toth from Canada writes: hey James and garlick; read the headline of the posting topic; 'Something about Canada tracking some sort of slump in USA.' Maybe that will increase the equity in that Edmonton house you have eh. And with all that equity you riase you can convert into .65 cent USD. That is after NAFTA GOES THROUGH THE 'CORN BINDER.' Let us be careful at whom we throw stones at.....remember 'Love thy Neighbour'.
  18. garlick toast from Canada writes: andrew toth,i don't just love my neighbour,i have family in the states.every one of them supports obama and hates the war.my sister and her husband,both in perfect health,pay $700.00 each,per month for health care insurance.
    i have no debt and a house which can go '' off grid'' with no problem except refrigeration.right now that wouldn't be an issue.i've often thought in the past that the north american economy was unsustainable,but it does seem to keep going and going and....
  19. Gary Dare from Portland, Oregon, Canada, writes: George Miller from Naples, FL writes, 'Never mind comparing yourselfs to the US with every issue but look at were your country is going. Example quebec, caledonia, poor health care, high taxes (health care $900 extra) largest city is broke, grid lock in a small area and a country of 5 parties were fools worse then the we have (maybe) get elected.' Mr. Miller is unaware that other parts of the US are different from Florida, which has not been immune from bad public finances at the local and state level either. Before my present assignment in Portland, Oregon where, just before my arrival, locals voted a city income tax upon themselves to keep their schools open, I was in Chicago, IL. In both those places, your total income tax (federal, state, local) as well as payroll taxes (FICA) can equal what you'd pay in places like Alberta, BC or Ontario. Those of you who will be visiting Chicago for Canadian Thanksgiving (Columbus Day) will be greeted by a sales tax of up to 11.5% (no typo), varying due to selective City surtaxes on top of the 10.25% Illinois plus Cook County sales tax. The CTA had to be bailed out twice in the past six months by the state. The leading mayoral candidate in Portland, Oregon is Sam Adams whose platform includes raising gas taxes and property surcharges to catch up on street repairs. Repeat: he's the leading mayoral candidate. Toronto's present fiscal problems have been par for the course for a while in many large US cities, unfortunately. Having five viable parties is a bad idea if you think that a two party oligarchy which effectively controls the electoral system is a better mechanism of reflecting the wishes of the people.

    http://www.chicagotribune.com/business/chi-tax-bdmar09,0,3075522.story
  20. Roop Misir from Toronto, Canada writes:
    What does the caption: 'Canada begins tracking U.S. into slump'?

    ..That neither we're in recession nor the economy's headed for the dump?
  21. matt s from Canada writes: If i understand economics right, it would appear a high canadian dollar is to our advantage. Low inflation brought on by the rising loonie is keeping inflation down which in turn is making all those things we buy more affordable. Which in turn is keeping all those who are employed, well, employed. If the loonie falls back to 80 cents or less, inflation will pick up dramatically, causing the BoC to drive interest rates up, which will put the screws to all those who hold a mortgage or other various loans. If canadians stop buying houses and cars, then we will feel serious pain.
    This economic cycle is driven by domestic demand. If circumstances change abruptly, it will take years for Canadian manufacturers to realign themselves with their customers from the past. And subsequently will take years for them to rehire all their former employees. And take years to recover from the ensuing recession. A 3-6 month recession is nothing compared to one that lasts years.

    Are we having a repeat of the roaring 80's? Will interest rates be ratcheted up to 13% again? Those who want a low canadian dollar are asking for it.
  22. REV eighteenseventeen from Canada writes: James macdonald drop your US dollars for a while. The US $ is going considerably lower. Put it into bullion or Swiss $s then get your Miami 'hurricaneville' condo when the bottom drops out. US dollars are one of the worst places in the universe to have your investments right now. Yes God Bless Americans but their dollar is damned by nature since it was created by corruption
  23. Vern McPherson from writes: george miller from naples fla, United States Outlying writes: Canada could never compete with the USA with an equal dollar.
    60% of the working population working for the Govt whose employees will get a pension for life where the paying canucks will never be able to retire. Never mind comparing yourselfs to the US with every issue but look at were your country is going. Example quebec, caledonia, poor health care, high taxes (health care $900 extra) largest city is broke, grid lock in a small area and a country of 5 parties were fools worse then the we have (maybe) get elected

    ----------------------------------------------------------------

    Appreciate the pack of lies George. Thanks eh .................
  24. Nobody's Fool from Thailand writes: The people with the power will do everything they can to ensure the dollar remains close to parity for as long as it takes for the SPP to go through, so that the government of the day (be it Con or Lib) will have an easier time foisting the AMERO on the Canadian people. The secretive SPP is hitching our future to the failing American empire forever.
  25. Gold Standard from Canada writes: J Taylor from Centra Alberta, Canada writes: Suggest that you buy US dollars and put them in the bank.

    (LOL yeah folks just do that LOL. PLease I hope EVERYONE does that...especially all the neo-cons that come here...nothing would make me happier.)

    Nobody's Fool from Thailand writes: The people with the power will do everything they can to ensure the dollar remains close to parity for as long as it takes for the SPP to go through, so that the government of the day (be it Con or Lib) will have an easier time foisting the AMERO on the Canadian people. The secretive SPP is hitching our future to the failing American empire forever.

    ((I have a feeling you are right..we will see in 2010-12.)))
  26. John Doucette from Manotick, Canada writes: Again I ask, what Canadian economy? When will the idiot journalists and brainwashed 'experts' admit that there is no Canadian economy. We are America's back-porch, or more appropriately, America's gravel-pit. Change simply happens slower in the servants quarters in the back 40 than it does up in the main house. The Globe and Mail and all of its rival media keep repeating the same garbage about a non-existent function which Canada sold many years ago.

  27. Dan Green from PAlm Beach Gardens.Florida, United States writes: This cannot be true. We have been told your decoupled from your advesary to the south. Promise you will continue to ship oil. We do not need any other problems. We have to be free to concentrate on graduating thousand of lawyers, to prosecute all our scum bag bankers. Will take decades, before we get them all in Jail.
  28. Mike Potter from hamilton, Canada writes: Dear G&M:
    What are our dear beloved political leaders saying about this? Shouldn't your reporter put them on the spot so we can throw their lies back in their faces during the next election.
  29. Stude Ham from Canada writes: the only ones who will be surprised by this bit of bad news are the CLOWNservative trained seals who all along have been relying on party dogma to suggest that because of our oil deposits (still to be extracted from the tar sands etc...) we are immune to the US downturn... like see folks... the super calgary oil and grease trust will rescue you all... and of course our harper is from calgary... so his super powers will keep canada rising above the chaos..

    to all the CLOWNservative piddle heads... you deserved losing 3 out of the 4 by-elections.

    DUMP HARPER!!
  30. E. Biggs from Canada writes: Have any of you noticed the markets over the last week or so.
    This morning so far is and example, New york up 45 points, Toronto down 130. This has been pretty much consistent over the last week or so. It seems we are heading into the crap can a lot faster than they are at least as far as the markets are concerned.

    We are just a small extention of the US economy.

    If it were not for our oil, nobody down here would be able to spell Canadar

  31. Brian W from Burlington, Canada writes: E. Biggs from Canada writes: Have any of you noticed the markets over the last week or so.
    This morning so far is and example, New york up 45 points, Toronto down 130. This has been pretty much consistent over the last week or so. It seems we are heading into the crap can a lot faster than they are at least as far as the markets are concerned.

    We are just a small extention of the US economy.

    If it were not for our oil, nobody down here would be able to spell Canadar

    ---------------

    I find that as your country falls from grace, your final throes are quite amusing. Pretty soon you'll be accepting Pesos.
  32. Interested Observer from United States writes:

    harper and gang couldn't wait to tie up alongside the Titanic. karl rove dictated their policy implementation.

    harper lamented about Canada's position as a peace advocate and 'rule of law' adherent - 'there is no upside in that position' - and then proceeded to join the US foreign policy of illegal invasions and occupations.

    who knew that bellying up to the military industrial complex could cost so much!!
  33. J Kay from Canada writes: George Miller: 'It is better to be though a fool and remain silent than to open one's mouth and remove all doubt' You sir choose the latter proposition and have displayed a massive amount of ignorance about Canada.

    60% of the population working for the government? Are you crazy? Have you ever looked at the stats? It isn't anywhere near that. Let me help educate you. In Canada in 2007 total public sector employment in Canada as a proportion of the employed population was 18.9%. The US figure is 15.4%, however the US numbers exclude military whereas the Canadian ones include them. As well the Canadian ones include other health care and education which the US excludes because it's paid privately. If we add in the military only to the US figure it becomes nearly 17% yet the numbers are still not directly comparable since the Canadian public sector includes job functions the US government does not. read: http://dsp-psd.pwgsc.gc.ca/Collection/FB3-2-101-19E.pdf

    Reagding your other comments, I'll ignore the qualitative and stick to pointing out the quantitative errors and all others to draw inferences as to the viability of you qualitative ones. Regarding heath care, while Canada's heath care system does have problems it consistenty out ranks the US health care system on virtually every measure. On heath care outcomes (disease) Canadians live longer and healthier lives, have lower rates of disease and better outcomes when engaged in the health care system. The US has fewer wait time issue. As far as cost, yes Ontario and Alberta have health care premiums as part of our taxes. Now lets compare the cost of health care. The US pays per capita $6401 on health care (public and private) vs $3326 in Canada. Publically, the US pays $2886 though taxes whereas Canadians pays $2338. Moreover US health care costs have been rising at a much faster rate, on the average of 2% more per year than Canada.
  34. Zando Lee from Vancouver, Canada writes: ...we knew that there was a compelling reason to pull the plug....too bad Stevie....too bad Stefie did not fall for it.....back to the drawing board.... watch for the Neocons to start making restraint noises....
  35. E. Biggs from Canada writes: Brian I am Canadian living down here for the winter. You never answered the question.

    Try and keep in mind that as the States goes so do we and a lot harder as they are much more diversified than we are. The only thing keep us afloat for the last few years has been the resources.

    Now that they are no longer in as much of a demand we are going as well.

    You might be correct that both the States and Canada will be looking for pecos before too long. Their economy is start to pick up and in fact many of the better educated Mexicans here in the States are starting to go back home for some good jobs.
  36. Jake ---- from Canada writes: george miller from naples fla, United States. Hey george I will give you 5 dollars CAD for your house. Since the American Peso isn't worth the paper it is printed on.
  37. Zando Lee from Vancouver, Canada writes: ...Fatuous Flaherty should be stepping up to the podium any time now.....
  38. Michael Crowell from Halifax, Canada writes: A word to all the US haters in Canada especially those who wish them economic ill. Never for a minute underestimate the Americans and their willingness to succeed. It is that raw determination that built America and will continue well into the future. Every free market under goes corrections and the US remains one of the most productive economies on earth. The resilience and ability of the US economy to reinvent itself and change their means and methods of production is staggering. Never, ever count them down and out. One of the biggest challenges facing the US today is the influx of people both legally and illegally. The infrastructure in the US cannot keep up with the population increase from these sources. Why so many Canadians literally hate the US remains a mystery. If the US is such a terrible place why do so many people wash up on their shores everyday looking for a chance for freedom and to succeed? To gloat about a weak US economy is really to wish havoc upon others across the globe that depend on a strong and vibrant US marketplace. With a strong US dollar and unfettered access to their markets for the last 20 years have allowed other Countries to prosper. A lower US dollar means all these Countries now have to stand on their own two feet and be competitive.
  39. s d from Canada writes: lol I love these experts anyone count the number of times 'likely' appears in this article
  40. RD Lone from Vancouver, Canada writes: Normally everyone flames the 'expert' but now it's unanimously accepted as truth?

    Give me a break. If we can have decade low unemployment rates, low inflation, appreciating currency (against the American peso at least) - what exactly is 'recessionary'? The ex-union workers just needs to get with the times and move to where jobs are.
  41. Zando Lee from Vancouver, Canada writes: Michael Crowell from Halifax...sorry to disagree Michael, but the lower US dollar means that the exporters to the US are demanding payment in Euros....
  42. Silent Majority from Canada writes: Stude and Zando, Idiots.
  43. J Kay from Canada writes: E Biggs. I think part of the problem with your question is you are predicating it on an incorrect axiomatic statement, that being as goes the US so do we only harder. While our GDP growth often trends with the US GDP growth, both of which happen to trend with world GDP growth, if you look at the cycles of boom and bust you will find that sometimes Canada's GDp growth lags the US and sometimes it leads. In fact from 1992-2005 according to OECD stats, Canada's real GDP growth annualised was greater than the US (same with 1970-2005 annualised). If you look back from 1960 to today you will find that the US grew faster than Canada about 51% of the time and Canada grew faster than the US 49% of the time but when Canada grew faster it did so by a larger margin.

    Now if we look at periods of economic slow down or recession from 1970 onward we see that 1974-75, 1980, 1982, 1991-93, 2001 were period where either recession or marked slow down from the prior period of growth occurred. In 1974-75 on an annual basis the US went into recession but Canada did not posting 3.7% real GDP growth in 74 and 1.8% in 74. The US by comparison posted -0.5% and -0.2% respectively. In 1980 the US again went into recession on an annual basis posting -0.2% growth in 1980 vs 2.2% in Canada. In 1982 however both countries experiences recession and Canada it was worse with 2.9% real GDP contration in 1982 vs 2% contraction in the US. 1985 saw Canada's GDP growth fall to 2.4% whereas the US dipped down to 3.4% coming off highs of 5.8% and 7.2% respectively.

    I wont bother to continue but will qualitatively note that 1996 the US outperformed Canada and in 2001 one the opposite occurred.
  44. Toast And coffee from Canada writes: I have serious doubts about the assertion the article makes about our economy. I will stand corrected if necessary, but, I think we are in much better shape than the US and are very unlikely to recess.

    The trouble with Canadian economists is that most of them are in southern Ontario and can't see past the local issues well enough to get the complete picture. The west is steamrolling with job vacancies in almost every sector. How can a country with very low unemployment and record natural resource production and pricing go into the toilet? I think they are dead wrong.

    As far as the US goes...they definitely are having a rough go of it. But make no mistake they aren't going anywhere. They have been remarkebly reslient in the past and with get past this as well.

    Some countries are putting up fences to keep people in. The US has to fight to keep people out. Must be something to that demand by so many.

    No, the demise of the North American economies is not imminent. The media is scaring the bejeesus out of people. Including many on this blog today.
  45. Mary Smith from United States writes:

    J Kay said:

    "On health care outcomes (disease) Canadians live longer and healthier lives".

    Oh really.

    When you remove car accidents and homicide (non-health care related deaths), Americans are at the top in life span.
  46. B to the A to the R to the T from Canada writes: Mary. Please provide proof. Also how are "car accidents" non health related? The system is involved in most accidents.
  47. Michael Crowell from Halifax, Canada writes: Toast and coffee from Canada great point. As in politics many times all economics is local. Unfortunately one of the problems in Canada since the Trudeau days is the immobility of labour in a Country as geographically large as Canada. Trudeau's policies although politically expedient; stemmed the flow of labour from one area of Canada to another. His idea was to prop up every one-horse town across this Country and make it a thriving economic metropolis. The masses loved it and it became part of our culture and identity as Canadians. Much as without the CBC we would disappear as a nation within weeks. I digress! That mindset is slowly changing over time. Ontario has yet to embrace this as part of the world we find ourselves in today. In fairness they never had to worry about this because historically Ontario was the breadbasket of Canada. Most logical thinking Governments today; except the NDP and Dalton, realize this economic model is unsustainable. The Harper Government is moving toward a new tax structure that recognizes both the need and absolute necessity of a highly qualified mobile workforce in Canada. Politics and economics always clash. Politics always wins at the ballot box in the short run, however in the long-term economics clearly excels. I realize this is difficult for many and causes hardships but at the end of the day life is not fair. As a final point that is why you will see a unified (deep economic integration) North America someday. As much as the Maude Barlow’s and Buzz Hargrove’s will fight tooth and nail against it for their own personal agendas, it is inevitable. In order to compete globally against the India’s and China’s of the future this will be a minimum requirement to survive economically.
  48. Wir sind das Volk from Canada writes: I agree with the above posters - with commodity prices at all time highs in many cases, I find it tough to believe that Canada will enter a recession. Western Canada is a third of GDP these days and it is certainly booming.
  49. J Kay from Canada writes: Mary Smith: I referred not only to life span, which is dictated almost entirely by differences in infant mortality but also individual heath care outcomes across a range of diseases, which entirely negates your comment of auto accidents and homicides.

    So lets try again Mary since you always make unsubstantiated claims. Deaths due to cerebrovascular disease per 100K: 35.3 Canada vs 39.9 US. Respiritory Illness: 41.9 Canada vs 61.4 US. Diabetes: Can 19.6 vs US 20.9. In hospital fatality rates for AMI (30 days after admission): Canada 9.26% vs US 14.8%.

    Or how about this quote: "A more recent study, however, ranks Canada sixth out of 19 countries in terms of the amenable mortality rate (i.e., avoidable deaths from treatable conditions), a valuable performance indicator that can point to potential weaknesses in a nation's health-care system. In this study, Canada does better than the UK (18th), the US (15th), New Zealand (14th), Germany (11th), and the Netherlands (8th)"

    Also have a read here: http://www.guardian.co.uk/society/2003/nov/14/politics.medicineandhealth

    You were saying?
  50. Second Look from Canada writes: Well lawdy daw - how come all of us regular Joes/Jills saw this coming a long time ago while big media interests, linked to their big government pals linked to their private sector interests couldn't spin the blarney fast enough while our neighbors to the south started sinking into this sad state????

    Oracle . . . you said it with simplicity & elegance at the start:

    'All truth passes through three stages. First, it is ridiculed. Second, it
    is violently opposed. Third, it is accepted as being self-evident.' -
    Arthur Schopenhauer (1788 - 1860)

    . . . . "ridiculed" & "violently opposed" by those in the circle who would be caught with their pants down in the face of the TRUTH.

    The 'individual's" best interests and our countries' have been suffering from the collusion of the said circle's collusion for THEIR private, best interests for too long.

    It is time that the voices of the people truly spoke & used the power of their united voices to ensure that the TRUTH is exposed.
  51. Biggest Redneck from United States writes: It always amazes and amuses me to take a quick read of some of these threads.
    What gets me the most is the absolute glee and joy some posters ( I don't think I have to mention names ) take in any sort of economic bad news. If it's out of Canada its proof that it's Harper's fault and if it is out of the States it is proof that the world's largest economy is failing completely and the bad old Americans will finally get their comeuppance.
    The most amusing are the conspiarcy theorists who believe this is all a set up to some larger Government conspiracy ( a la the Spp and Amero ). You do really give me a laugh.
    Jay K please keep up the insightful posts. I don't always agree but at least you make sense.
    Life is good. We live better then at any time in history and North America will weather this little storm and move on just like we have in the past.
  52. Zando Lee from Vancouver, Canada writes: Silent Majority from Canada....has been unmasked as Stevie Harper's corset maker...'tighter than a funeral drum'....
  53. Stude Ham from Canada writes: Silent Majority from Canada writes: Stude and Zando, Idiots. *

    That pretty much sums it up... you either agree with the CLOWNservative dogma or you're an idiot.

    Canada is being destroyed by the CLOWNservative kneejerk reflex ideologies and their ineptitude is showing up in spades in such places as the a'stan disaster, the flaherty proven incompetence, the sandrabucklerist propaganda, the increasing separation of the west from the rest of the country, and the absolute lack of talent in their parliamentarians.

    Instead of coming to grips with the real problems of Ontario, the CLOWNservatives are merely doing everything in their power to destroy that province. and bleeding the finances of our country to buy votes here and there in quebec. The CLOWNservatives deserved the massive beating in the by-elections and it is very doubtful that canadian voters will ever again make the mistake they made in the federal election of 2006.

    Silent majority... here's hoping you're fully enjoying that 2 cents off the gst.

    *DUMP HARPER!!
  54. Terry F from Edmonton, Canada writes: Stude - Umm, sorry to intrude on your rant, but the byelections left the Conservatives one member up from before, and the Liberals one seat down. Almost two. With this kind of "beating" Harper will be the PM for a long time to come.
  55. E. Biggs from Canada writes: J Kay I will not debate the GDP issues but I am looking at the stock market figures and that is where I either make or break and for the last while we have tracked the New York markets and in particular the last few days, includng today we are taking much more of a hit than the US Markets.

    Today our dollar dropped two cents and the market took a real hair cut. It is hoped that this will change shortly as from the information I have been given our only salvation is the resource sector and it has been taking a real hit lately as well.

    With the resource sector going, forestry going, fishing going, Mfg going and real estate in many places going, where is the light?
  56. Alastair james Berry from NANAIMO, Canada writes: Your headline is OPTIMISTIC!!!! "Canada begins tracking U.S. into slump" --------------------------------------------------------------------------------------- Since Canada started to PRINT MONEY AND RUN UP THE NATIONAL DEBT we've been headed downwards. There has been no LET or HINDRANCE since silver was removed from our coins in the 1960's. The slide has got faster and our BELOVED LOONIE will end up damn near worthless! Why? (I) because PRINTING MONEY IS ADDICTING and 'OTTAWA's POWERS THAT BE' love the freedom to go from deficit budget to BIGGER DEFICIT with no discipline!! (2) because printing money causes inflation and inflation is a CAPITAL LEVY that extracts( 'STEALS ' in my opinion) value from circulating money, savings and citizens weekly pay packets and transfers the monet to OTTAWA's coffers. Charest and McGuinty constantly whine at HARPER to REDUCE THE VALUE OF OUT LOONIE STILL FURTHER BECAUSE IT IS "TOO STRONG" It is no wonder we are headed into a depression in CANADA and MY FRIENDS " YOU AIN'T FELT NOTHING YET" I expect to see GOLD at $5000/oz soon. Give me two years.
  57. Adil Burney from Montreal, Canada writes: At least TD and G&M are covering this coming recession! Now, if only the other 5 banks and the mainstream media would wake up to the fact that Canada is not decoupling from the US and start considering this possibility seriously. The Bank of Canada is awake as shown by the 50 basis point cut earlier this month.

    http://canadahousingcrash.blogspot.com/2008/03/at-least-td-seems-to-be-paying.html

    Commodity market imploding!

    http://canadahousingcrash.blogspot.com/2008/03/commodity-markets-imploding.html

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