Quote from Daal:
Funny, this might actually be a bearish report, the investment in housing so high means so much supply is going to come, this might break their housing market. And also it could induce the BoC to make a mistake tomorrow and hike rates
as if Canadians should be idiots like the americans and lower rates to zero.
"Obama vs. the Allies
NY Post ^ | June 29, 2010 | Rich Lowry
Posted on Tuesday, June 29, 2010 5:28:35 AM by Scanian
A specter is haunting the world: the specter of Canada.
To hear President Obama's supporters tell it, Canadian Prime Minister Stephen Harper is a one-man economic wrecking crew. He led the charge at the G-8 summit to endorse the goal of advanced nations cutting their deficits in half by 2013. Obama only reluctantly went along, warning of the ill effects of what the intellectual architects of his stimulus package plaintively call "premature austerity."
This dreaded austerity has treated our friendly neighbors to the north quite well. If deficit spending is the engine of growth, Canada should be a nation of Hoovervilles. Although it adopted a temporary stimulus during the current recession, Canada drastically cut spending as a percentage of GDP from the mid-1990s to 2008.
In The Weekly Standard, Fred Barnes compares Canada's economic situation with that of America: "Its unemployment rate is lower, its budget deficit breathtakingly smaller (after nearly a decade of balanced budgets), its debt burden far lighter, its banks more stable." It's enough to put the most spectacularly boring phrase in journalism -- "worthwhile Canadian initiative" -- in a new light.
In contrast to Harper, Obama has become the world's great evangelist for debt. What he won't do for human rights, he'll do for red ink."
http://www.freerepublic.com/focus/f-news/2543528/posts
http://snipurl.com/ycb01
