justin syder said:
Its only because of the trade deficit.
Wrong. Not only is the US running an all-time high trade deficit of over 6% of GDP (over $600 billion), the budget deficit is over 4% of GDP (over $400 billion) and will rise higher to pay for the Neo-Conservative Club's Safari of Iraq.
The stock market bubble bursted in 2000 and instead of letting a healthy recession occur and help clean out the exceess of the late 90s, Greenspam slashed interest rates to record lows and that has now fuelled another bubble, the real estate bubble.
Or, as your Presidente would have you believe, the beginning of the "Ownership Society".
Ironically, the "Ownership Society" begins with piling on hugh amounts of debt in the form of flexible-interest rate mortages onto new home buyers. With interest rates low, anyone can afford it. But what would happen if interest rates were to rise to support the falling dollar?
justin syder said:
You are soo obscessed with our economy and seeing it collapse. Isnt there ANYTHING interesting happening in canada that you could occupy ur time with.
I am 'soo obscessed with your economy and seeing it collapse' because it is the play of the decade.
Since your beloved Presidente took office, the US dollar in your pocket had lost a third of it's value in the foreign exchange markets and is right now hovering near the levels when Clinton took office...which is close to the all-time lows.
During the same time, gold has more than doubled and most gold stocks have done even better.
So I'm basically making decent money off of your country's problems... but it's nothing personal...just business.
Actually, there is something interesting happening in Vancouver over the next couple of days...the annual Vancouver Resource Investment Conference, where the one of themes is how to profit from a US dollar crisis.