Are you kidding me? Oil was a boon for western canada above 45 dollars a barrel money could be made and you are telling me we are on the downswing when oil is at less then 100 what a joke. How do you explain this? Like I said before this whole oil thing is a huge scam and who knows maybe the government is in cahoots with the oil companies as well So you are telling me we are in trouble if oil goes below 100 maybe in somebodies books this makes sense but not mine. im not buying any of it.
Once again....the age-old question......if oil prices are dropping, tumbling as you call it....why aren't prices at the pump falling....or tumbling? As usual, Canadians will be fed the same old claptrap by the oil people and our politicians.
I pray to God my grandchildren and their peers are a bit less acceptive of such lies and deception and have the gumption to do something about it...unlike their parents and others of my age.
Roll on the Revolution!
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
