jpaul the banks do not set the interest rate. They have to build on the overnight rate set by the Bank of Canada in the bond market. They add their 'markup' onto the the central banks rate and then usually float with it. Interest rates can hurt the national deficit which is why Mulroney could not balance a budget on Trudeau's debt. But that was much higher costs before we had better trade. Historical average of rates is around 7.5% so we are still well under the 30 year average.
The Canadian Banking system is very strong ,so strong that AN INTEREST RATE CHANGE can bring our gov,t to it,s knee,s.Bank,s now have the power to ignore gov,t regulating bodies in Ontario money talk,s in the gov,t of Ontario.
The CIBC ingnored a demand from the Financial Services Commission of Ontario to release a locked in account of mine .
This is very scarey especially if the funds are needed for renivations for a physical disability or. rent or food .The FSCO is a pawn to banks
A dent in this forecasted recession could have been made if our gov,t would have got some sort of insurance for the foriegn investors who only came to Canada because of our weak$ that they would not leave if our $ rose..It frightens me that our gov,t did not look into this probability.
Now that it,s to late foriegn investors like Worthington Cylinder in Tilbury,Ont can make a mockery out of our labours laws and not woory because our gov,t will jeoprodize Canadians health to keep them.
hannibalhlecter : Do you have a clue? Although taxes may be high in Canada, we certainly are not the highest taxed country or even in the top ten most tazed countries in the world. All those Scandinavian countries that fill the top spots for of 'best country to live in' list, are all paying more tax. Australia - more tax.As for your theory regarding "all those people who bring babies into the world", it's because of us that this country hasn't fallen to ruins. Immigration takes years to pay off
The title of this article should read "Why Hasn't the Mass Media told Canadians that we've slipped into a depression?" In time, it will be a depression. But if the tv tells you that the Canadian economy has created 45 billion jobs, you'll believe it.
K G, exactly. It's a ludicrous country and the people that bring babies into this world just add to the problem... They can't comprehend that every single solitary problem on this planet can be attributed to overpopulation. They just don't get it and magically think it's going to get better so they put all their efforts into the environment and other bullsheit when all the kids are going to want is GOOD PAYING JOBS. There won't be any and it will be utter chaos.Highest taxed country in world
towerosong, what kind of stuff is that your on? The crown knows EXACTLY what's going on as they have EVERY financial peice of info from EVERY company in Canada. Not just some guess work like the economist working privately on Wall Street. They only choose not to say to keep the stimulation going for as long as they can until is bursts like a hydrogen bomb, to get in as much money as possible before the bang. Exactly like the last two!! Create panic everyone stops buying, pretty simple really.
