Canadian banks : the next domino to fall

Canada was smart and took their Retirement funds and went shopping around the world. The loaned money into places they new they'd make one heck of a return.

People always need to throw away trash, no matter what.


For that....I say Canada should be given an award for some of the wisest investments ever made by a country.

Making money off of countries throwing their own trash.....into their own hole in the ground. Genius.

Originally posted by Pervius
Canada was smart and took their Retirement funds and went shopping around the world. The loaned money into places they new they'd make one heck of a return.

People always need to throw away trash, no matter what.


For that....I say Canada should be given an award for some of the wisest investments ever made by a country.

Making money off of countries throwing their own trash.....into their own hole in the ground. Genius.

You gotta explain this a little better. Sounds great! I'm excited! i just don't know why...

Originally posted by eldard
reply to post by tom goose

 

You are an export-oriented socialist nation. Similar to Japan. And highly dependent on the US.

Comparing us to Japan is a bit of a stretch. Japan has to trade with others in order to afford the Imports that they need to survive. They have strict sovereignty laws and expansion is one technological advancement after another that they cannot afford right now. They are great people, but like china, india, pakistan, mexico, and many other countries, they rely heavily on richer nations with lax immigration laws to expand their ethnic boarders.

The US was really the only country that Canada risked loosing its most talented citizens along with the business savvy. The US dumping and going into receivership would not only help keep Canadian talent in Canada but attract a lot of American talent as well.

The US rose to fame from being the land of opportunity. They have lost that with spades, and there is no room to try it again there. Canada is going to win big if it can keep up its image of a stable new opportunity for the wealthy world wide.

All this fuss with China being able to become the new Superpower is a ruse. How can that happen?? Military might??? then what? global military occupation????

Nobody is going to move to china to start a new life, there is no room and i doubt you would be welcomed.

The US became what it WAS because everybody wanted to go there, and everybody wanted America to win, That is all but completely gone now, but doesn't that description sound a lot like how Canada has become known for over the last couple of decades?

Everyone wants to come to Canada, and everyone wants Canada to win. Except Americans of coarse and I don't blame them.

Originally posted by tom goose
The US rose to fame from being the land of opportunity.

More like the land of borrowing and illusory wealth.

All this fuss with China being able to become the new Superpower is a ruse. How can that happen?? Military might??? then what? global military occupation????

Try purchasing power. Me brilliant thread: www.abovetopsecret.com...

Canada is socialist country. It will not become the next USA if it doesn't start consuming a lot. Which won't happen as long as you are a socialist country.

If Canada's been viewed as a safe haven, investors would have rushed there in droves way back in 2008. Instead they went to the yen and gold and to a lesser extent the Swiss franc. Australia is your identical twin, but even then people only rushed to their dollar when they raised interest rates. And they just reported negative growth even with all their natural wealth.

The perception that you are dependent on Amerika is the biggest thorn to your side.

Originally posted by eldard

Originally posted by tom goose
The US rose to fame from being the land of opportunity.

More like the land of borrowing and illusory wealth.

All this fuss with China being able to become the new Superpower is a ruse. How can that happen?? Military might??? then what? global military occupation????

Try purchasing power. Me brilliant thread: www.abovetopsecret.com...

Canada is socialist country. It will not become the next USA if it doesn't start consuming a lot. Which won't happen as long as you are a socialist country.

If Canada's been viewed as a safe haven, investors would have rushed there in droves way back in 2008. Instead they went to the yen and gold and to a lesser extent the Swiss franc. Australia is your identical twin, but even then people only rushed to their dollar when they raised interest rates. And they just reported negative growth even with all their natural wealth.

The perception that you are dependent on Amerika is the biggest thorn to your side.

I think the only likeness we share with Australia besides being a colony of Britain, is the number of south Asians that migrate there. Unlike Australia who is the nearest western nation to the south Asians, Canada is Waaay out of the way, and yet they still come. Australia has no where near the fresh water and natural resources that Canada has. Canada WILL get the north and that will just reinforce our place as the land of plenty.

I cannot speak about markets and projections because i do no understand it. I do understand how money and resources need to be used to better our civilization, but i don't see that as being reflective of how markets operate. I don't care about GNP, I don't care about Socialism, I only care about the human condition and how people operate.

I have posted this a couple times on ATS but here is how our Finance minister saw it in 2007 in a response to a letter i wrote originally to Prime Minister Harper.

Here is what i wrote:

first of all congratulations on your parties victory. although i did not
vote conservative it does dissapoint me to see another minority government,
i would be more intersested in what a party would do without the oposition
getting in the way. Anyway my question is, what is canada's role in
petrodollar recycling currently controled by the US dollar, and what effects
should we be looking for if Iran does in fact start selling oil in Euro's?
Obviously the US would acuse them of consorting with terrorists and wage war
on Iran, but what if the US in not successfull, and they no longer have
other nations oil profits to extend credit to it's own economy? What will
the canadian government do to secure our own economy in the face of a
collapse in the american economy? will we end up in another revolution of
the 'business cycle' or will we find a way to maintain our grouth and
confindence in order to continue as a prospering nation. I have no doubt
the the USA will fall, after all every empire thus far has fallen, i see no
reason why todays empire will not as well, but is canada at risk?

That was to Harper, it was then forwarded to Flaherty:

Dear Mr. Sloat:

On behalf of the Right Honourable Stephen Harper, I would like to thank you for your e-mail, in which you raised an issue that falls within the portfolio of the Honourable James Flaherty, Minister of Finance.

Please be assured that the statements you made have been carefully reviewed. I have taken the liberty of forwarding your e-mail to the Minister of Finance so that, he too, may be made aware of your comments. I am certain that he will wish to give your views every consideration.

A year later I get my answer:

Dear Mr. Sloat:
ce of March 3, 2006 regarding the
>> impact of the recycling of petrodollars by oil producing countries
>> on the U.S. economy and, potentially, on the Canadian economy.
>> Please excuse the delay in replying.
>> Recent U.S. current account deficits are larger and more sustained
>> than in the past. The U.S. deficits are matched by large
>> surpluses in Japan, Germany, emerging Asia and oil-exporting
>> countries, with oil exporters and emerging Asia contributing the
>> most recently to the financing of the U.S. economy.
>> However, a possible reduction in the accumulation of U.S. assets
>> by oil exporting countries will not signify the collapse of the
>> U.S. economy. Over the long run, the combination of higher saving
>> in the US., stronger growth in Japan and Germany, and greater
>> investment in emerging Asia would help resolve global imbalances
>> while minimizing the negative growth impacts on the U.S. economy.
>> For its part, the Canadian economy has held up remarkably well
>> over the past several years despite currency appreciation and
>> other challenges. Aided by low interest rates, strong employment
>> growth and healthy growth in real personal disposable incomes,
>> domestic demand supported Canada's growth over the past three
>> years. With the possibility of further exchange rate appreciation
>> in response to global imbalances, domestic demand is likely to
>> continue to lead economic growth in Canada over the near-term.
>> Achieving an orderly resolution of deepening global imbalances is
>> a key challenge for the global economy as a whole. For Canada's
>> part, I am confident that strong macroeconomic fundamentals -
>> notably the shift from budget deficits to sustained surpluses and
>> the policy of low and stable inflation - have enabled us to
>> weather economic shocks better than in the past.
>> Thank you for communicating your concerns.
>> Sincerely,
>> James M. Flaherty

Like i said I really don't care about modern economics, it was supposed to be a system of to facilitate trade but today has become something so nasty i cannot even look it in the eye.

You seem to like economics you tell me what you think of Flaherty"s vision.

reply to post by tom goose


Considering that the BRIC countries are ascendant, few South Asians will migrate there in the decades to come. Canada would be better off securing its borders since USA will become Mexico part deux.

well Canada is in a very good position, we have a lot of natural resources, and a lot of countries want our stuff, you know the supply and demand thing.

Our banking system is the most sound in the world, very tight regulations and tough rules though they can approve people for huge mortgages that people can't afford.

Canada GDP prints at -0.4% on expectations of 0.0%, first contraction since Q2, 2009

And it begins.

Now if this continues (and it will) the real estate market will finally hit reality and those banks are gonna go bust.

Canada is simply the world's largest remora fish.

Originally posted by eldard
Canada is simply the world's largest remora fish.

I cannot tell if you are being serious with your posts here. That last one especially.

Also, you are abusing the emoticons. There is not need for three of them.

Originally posted by Exuberant1
I cannot tell if you are being serious with your posts here. That last one especially.

Also, you are abusing the emoticons. There is not need for three of them.

How about this? France is the largest remora of Germany.

I'm just imitating Amerikans, silly! Gobbling way more than I need.