Canada's Economic Conditions "Perfect"

[Economy 52,861]

http://business.financialpost.com/2014/11/28/how-the-loonie-is-doing-the-heavy-lifting-for-canadas-economy/ http://m.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/low-loonie-offsets-fall-in-price-of-oil/article21358273/?service=mobile

Nice surprise! Q3 growth came in higher than expected at 2.8%, after growing 3.5% in Q2 and because Canada did not contract in Q1 like the US did, Canada may once again get the highest over-all annual growth rate in the G7 for 2014

If unemployment in Canada was measured the way Americans measure it, unemployment is now little over 5%. Inflation is also over 2% perfectly in target! And Canadian Banks continue to make massive profits!

Best of all, all growth has been on manufacturing, exports, and service sector while imports and the overheated housing market have cooled somewhat and preventing a bubble burst

Also the drop in the Canadian Dollar helps shield the oil industry from the recent drop in prices. The current conditions are "perfect" as they put it!

[Morphine Prince 109,683]

When will the US?

[nickkoko 922]

And gas prices are expected to go bellow a dollar in the next week

[Economy 52,861]

And gas prices are expected to go bellow a dollar in the next week

i doubt in my area it will. Its been around 113 cents in my area

[Miker 5,683]

http://business.financialpost.com/2014/11/28/how-the-loonie-is-doing-the-heavy-lifting-for-canadas-economy/ http://m.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/low-loonie-offsets-fall-in-price-of-oil/article21358273/?service=mobile

Nice surprise! Q3 growth came in higher than expected at 2.8%, after growing 3.5% in Q2 and because Canada did not contract in Q1 like the US did, Canada may once again get the highest over-all annual growth rate in the G7 for 2014

If unemployment in Canada was measured the way Americans measure it, unemployment is now little over 5%. Inflation is also over 2% perfectly in target! And Canadian Banks continue to make massive profits!

Best of all, all growth has been on manufacturing, exports, and service sector while imports and the overheated housing market have cooled somewhat and preventing a bubble burst

Also the drop in the Canadian Dollar helps shield the oil industry from the recent drop in prices. The current conditions are "perfect" as they put it!

 

Alberta is worried that the barrel of oil will fall to about $65. This province economy is ruled by the oil and gas business.

[Echo 327]

Yall have dollar gas? Lemme move there

[Emvee 8,833]

When will Europe?

[Economy 52,861]

Alberta is worried that the barrel of oil will fall to about $65. This province economy is ruled by the oil and gas business.

alberta is the 1 province that is being squeezed the most cause the lower Canadian Dollar and the reduced discounts Alberta is selling oil for dont totally make up for the slump in prices

Canada as a whole is benefiting in many ways tho especially Central Canada which is highly industrial and manufacturing based

Not only are consumers benefiting, but this lowers costs for manufacturers doing business. Also lower oil means a lower dollar which is good for exporters

Alberta has gotten all the economic growth the past 10 years. Now its our turn. The cycle historically has been that Western Canada which is comodity based and Eastern Canada which is manufacturing based have always had opposite cycles of prosperity vs economic weakness

Canada as a whole is doing exellent tho

Yall have dollar gas? Lemme move there

our prices are per litre not per gallon. Its still more expensive than in most of the US

Still cheaper than in most of Europe tho

[Echo 327]

alberta is the 1 province that is being squeezed the most cause the lower Canadian Dollar and the reduced discounts Alberta is selling oil for dont totally make up for the slump in prices

Canada as a whole is benefiting in many ways tho especially Central Canada which is highly industrial and manufacturing based

Not only are consumers benefiting, but this lowers costs for manufacturers doing business. Also lower oil means a lower dollar which is good for exporters

Alberta has gotten all the economic growth the past 10 years. Now its our turn. The cycle historically has been that Western Canada which is comodity based and Eastern Canada which is manufacturing based have always had opposite cycles of prosperity vs economic weakness

Canada as a whole is doing exellent tho

our prices are per litre not per gallon. Its still more expensive than in most of the US

Still cheaper than in most of Europe tho

Oop NVM then.

[Ladey Gagz 2,512]

Yall have dollar gas? Lemme move there

It costs more than in the US

When we travel to the US we make sure to fill up our gas cause it costs less

And gas prices are expected to go bellow a dollar in the next week

Per litre?

I don't think it'll happen :omg:

[Morphine Prince 109,683]

our prices are per litre not per gallon. Its still more expensive than in most of the US

 

Oh, that makes sense. I was about to buy a plane ticket to Canada. 

[Economy 52,861]

Oh, that makes sense. I was about to buy a plane ticket to Canada.

lol yeah. It also depends where u go in Canada

Like in Alberta in many areas is like 90 cents per litre cause the oil is produced there and it follows a different benchmark

Here in my Province of Ontario, we have to import it from the middle East which is a more expensive benchmark atm

Canada produces a lot of oil but theres no pipelines or other infrastructure to send oil from Western Canada to Eastern Canada and envrionemtalists keep blocking plans to do so

So we gotta ship oil all the way from the other side of the world. I suppose environmentalists think its more eco-friendly to bring oil in big tankers all the way from saudi arabia and risk spills in the Ocean :roll:

[Computer 10,980]

I can't believe Canadian housing cooled on it's own sans bubble burst. It's just not fair.

[Economy 52,861]

I can't believe Canadian housing cooled on it's own sans bubble burst. It's just not fair.

well the Government tightned mortage rules a lot to prevent the bubble from keeping on growing:

- max amortizations are 25 years now

- minimum downpayment 20% (5% with mortage insurance)

- A limit of $750 Billion a year in insured mortages imposed. Once passed that limit banks must deny any additional requests for insured mortgages

- you can no longer refinance more than 85% of home equity

Also the correction began because of ample supply as well because of all the years of over-construction. But because the housing market has began cooling before interest rates are hiked, its correcting gradually :)

[Computer 10,980]

well the Government tightned mortage rules a lot to prevent the bubble from keeping on growing:

- max amortizations are 25 years now

- minimum downpayment 20% (5% with mortage insurance)

- A limit of $750 Billion a year in insured mortages imposed. Once passed that limit banks must deny any additional requests for insured mortgages

- you can no longer refinance more than 85% of home equity

Also the correction began because of ample supply as well because of all the years of over-construction. But because the housing market has began cooling before interest rates are hiked, its correcting gradually :)

Very interesting, I wish the US had done some of these things to reign it in.

I did hear that Toronto is still very high so I wonder about local bubbles.

US housing is still recovering but has felt stagnant lately. A bright spot, I believe the foreclosures remain on people's credit records for 7 years so we may see a wave of buyers re-enter the market this year and next as those begin to fall off.