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Canadian FinMin Blows The Narrative: US Economic Leadership "Is Simply Not Sustainable"
Happily ignoring the 'fact' that the unemployment rate rose in the US today, talking-heads continue to proclaim the US economy will be the economic engine of the world going forward... cleanest dirty shirt... where else are you going to invest. Of course this ignores the fact that US Macro data has been a disaster over the last 2-3 months. But there is one dissident voice who dares to speak up... Canadian Finance Minister Joe Oliver said on Friday, although the United States is carrying the world economy at the moment, "that is simply not sustainable." Blasphemy!!
As Reuters reports,
Although the United States is carrying the world economy at the moment, "that is simply not sustainable", and other major nations need to re-assert themselves, Canadian Finance Minister Joe Oliver said on Friday.
Oliver said in a speech that the world economy was off to a rough start in 2015 and that kick-starting growth would be the focus of a Group of 20 meeting in Turkey next week.
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It appears only the stock market needs to get the joke...
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How long before he commits suicide?
That chart of the S&P reminds me of a pendulum that gets shoved harder at each end of its swing. Eventually, it's gonna break.
Fuck you, Joe Oliver!
The American Economy & Jobs Creation Machine IS ON FIRE!
America & Americans WILL CARRY THE GLOBE ON OUR SHOULDER, you fuckin' Canadian Welfare-Cradle-To-Grave Socialist Pig!
USA! USA! USA!!!
Taking donations for a nailgun proof vest....please donate if you can.
We don't need an economy to lead the world economy. Stupid Canadian.
(I pre-apologize for my mean-spirited, racist Canadian comment. Nonetheless I'm letting it stand)
NO!
BLAME CANADA! BLAME CANADA!
https://www.youtube.com/watch?v=bOR38552MJA
Either a nail is heading his way...
or he's "front-mouthing" what's to come, soon !?
A note from Canada.
The US leads the world in bogus financial indicator performamce.
China is close behind.
Stupid Americans.
That's completely wrong. China leads the world in bogus financial indicators AND manipulated financial reporting. The US is in 2nd place, but we're doing everything we can to catch up (the latest batches of data today should be proof enough of our improving performance in these areas).
Stupid Chinese.
No, you're wrong ! Right now the American BS is way stronger than the Chinese one. It is in fact our only leading industry (ie. BS statistics). Those guys still have a manufacturing industry to speak of...
Truth in Sunshine:
We Canadians have only one thing in common with the U.S.A. We both have desperate lazy people on our southern border who want to go north for a better life.
By the way TIS; eat Shit.
I don't know about China, but I tend to agree with philosopher Carlin, who stated that America is full of sh*t.
Got a YT clip of it somewhere.
From yoru last post "racist Canadian"
Canadians are NOT a race.
This is probably the US education system at fault here.
Improving performance ????
Stupid Americans
Yet another case of people missing obvious sarcasm.
I give up.
I'm Canadian, weighing this to find motive, considering we have a federal election this year. Excuse for Canada's crashing economy? Best I can do.
Nice knowin ya Joe, mind those nail guns
Never give up, never surrender hey.
https://www.youtube.com/watch?v=nBOxGFA7Oig
Or gets caught in NYC with a prostitute?
underage shemale in his immediate future.
He's tag-teaming Harry Reid's boyfriend?
Careful; he might get jealous.
Or at the St. John's Nfld YMCA with a baby seal.
Lard thunderin' Jaysus, bye! Could ya not've at least performed yer beastial tittie-lations with full-grown lady seal?
a comment like that doesn't, of itself, warrent the suicide treatment, but I do see a great scandal in his future. financial, sexual, you name it.
Yes, I see a scandal is in his future. He's married to a woman named Golda Goldman, and the skeletons in his closet are banging on the door.
Expect a canuck to get it late. He had to wait for approval of the queen first.
Go be useful and freeze some hockey pucks!!!
Face down in a vat of maple sap.
death by Canadian Club
Nonsense, there is lots more blood in this turnip!
Yup, squeeze everything out of everything. And then........
He is right, it's not sustainable... that only the US is thriving. But with a strong dollar we should see other countries boost exports and grow their economies.
boost to whom? ... at hoos expense?
strong usd will hurt S&P exports and earnings (fx treatment of overseas profits) ... leading to layoffs / capex cutbacks in US
US core capex orders negative for 4 months in row ... no doubt january will be 5 with the carnage in energy sector
narrative to come unraveled in 3..2..1
http://canadianpatriot.org/archives/1844
Canada’s Dilemma : Join the BRICS or Die with Wall Street?I have no problems promoting trade with the BRICS and other nations. I don't need Obozo to tell me who my friends should be, he ain't my boss neither is the Canadian PM, he is just another politician.
When we want America Jr's opinion, we'll ask for ir.
Hey now --
its just the US' largest state.
America's hat.
Canada's ass
Together, we make the world's asshat.
Pretty funny little riff in this thread.
But, hey, there's one thing we can agree on, us US & Canadian men, and that's that The Red Green Show is Canada's finest TEEVEE programming, EVAH!!!
if you ever do anything for yourself as far as TEEVEE goes, Canada's best show of all time..."The Trailer Park Boys" it's spectacular and on Netflix or tor*ent it, you won't believe how awesome it is
employment is lagging indicator
it WILL catch up to lousy macro data
Tell that to the BLS.
Well, Joe, since 80% of Cdn reserves are in USD .......how does that position Canada when the USD collapses?
Whats that, GOLD? LOL....thanks Joe, im sure we will stand tall with our gold reserves (91st in the world)
Nothing to see here.....move on
You can buy gold on your own as much as you want. Higher quality than the US one, too. Why do you care about gov. reserves ?
Well, when governments go broke (think: Rome fell), the barbarians have this nasty habit of showing up at the gate. How long can Canada last when a few million Chinese troops come ashore in British Columbia?
Hate to inform you that the Chinese are already well established on the West Coast. Whom do you think pushed the RE in Vancouver to this insane level over all these years. Ever been to Richmond, BC (South on Vancouver) ? You're lucky to see a sign in English. You'd think that you are in a Chinese Quebec (the Chinese signs everywhere are much bigger that the corresponding ones in English). When the Chinese will finally take over BC, they'll just come in as civilians, to visit their Lower Mainland relatives...
They can take the coast but they will die in the mountains moving east.
Red Dawn EH!
They can take the coast but they will die in the mountains moving east.
Red Dawn EH!
The Chinese will be crossing at Windsor and Niagara Falls
Canada has no gold reserves. Nothing. Nada. Zero. None in Canada and none in the US of A.
The guys on Bay St tell me that...
"This is just as well: if Canada had gold reserves, they'd get shipped off to the US or somewhere else anyway. As it is, it's better to keep it in the ground till the time is right and Canada needs it."
In the meantime, the Loony is still backed by its Resource and Energy industry, farming, forestry and a well-diversified economy, and a healthy and educated population that stays out of real wars.
There are only a few Canadians awake!
Most of the one's I talk to about the economy say " Oh that's the States or that's Europe, were safe"!
Ha.
Long hockey sticks and beaver pelts!!!
Dang, I resemble both of those remarks!
Yes beaver pelts, nice to touch and rub, when they are fresh....they taste good.....I use one for my rug.....
Pelts are a bubble too
http://www.theguardian.com/fashion/2014/apr/19/fur-trade-mink-peta-china...
US economy Least smelliest shit sandwich.
Maybe, but one quickly becomes accustomed to their own odors.
Many beers ago, I once believed the US was an exceptional country of the highest and finest values. I envied the American way and he Land of the Free. Now all that is gone to hell and it takes one ballsy Canuck to speak candidly about the true state of affairs. The BLS certainly fooled some folks.
allowing BLS number as accurate ... employment still a lagging indicator
hiring plans are often months in the making ... blowout GDP Q2 and not bad Q3 sowed the seeds for hiring ... below expectation Q4 (and will likely revise lower on huge miss re trade deficit).
Employment gains sustainable?
put me down for "no"
Canada is next on the list for regime change with that kind of attitude
"in breaking news, a new ISIS cell appeared in British Columbia, after finding magical golden plates in a forst, and attempting to establish a new "Mecca" with requisite Caliphate in Kamloops."
Just another 'Mr. Big' setup or entrapment or just shoddy police work.
http://www.theglobeandmail.com/news/british-columbia/suspects-in-bc-legislature-bomb-plot-planted-homemade-bombs-crown-alleges/article22749306/
That would be OK They can send in the military for a few years. Bomb people and places to kick start the Canadian economy by rebuilding, steal the tar sands, retrain our military as they don't know how to kill good enough, make movies about their heroes, build a multi billion dollar embassy, print a whole buch of money to send to us, have John Kerry drop in every month, anounce 'Mission Accomplished' even though they haven't established control yet, torture a 'few folks' so Canadians know who the 'boss' is, and slowly vanish after 10 or 15 years.
There is a large Ukrainian contingent near Edmonton...
The largest number of Ukrainians outside of Ukraine do live outside of Edmonton ...... all the way to Winnepeg.....and further east
Yup already scheduled for October 2015! Now lets just "hope" for regime "change" but as in the USA its just a potential swap of criminal overlords.
Come now. No Canadian politican says anything without approving it with the US before and receiving a gold star on his progress report after.
Hey mr. finmin, next time take the red pill.
Simply not COMPETENT.
Much better summary of US economic leadership.
but way to go getting away with it for - like forever.
(Kill 'em) (then kill 'em again just to be sure)
How many G7/14/21/1000 meetings have there been over the last 5 years about 'kick starting growth'?
10, 20, maybe even more. Proves wht a bunch of self serving wankers they all are.
I don't see the issue?
Surely, all of America can find jobs creating millionaire highrise housing for NYC that will be sold to foreign oligarchs who will never live there.
"Our ghost cities are above the 30th floor......"
When you said: "US Macro data has been a disaster over the last 2-3 months." You forgot to overlay comparable statistics for other major economies to demonstrate that the US economy is a bad place to be.
Canada. One of the few nations that doesn't pretend to have any gold reserves.
They are relying on their USD reserves to carry them through world wide currency shakeup.....or black swan event.
Yes that`s the remaining artifact left from the Gold sale in the 80`s, when austerity was forced up Canada, Govt sold gold to reduce debt balance.
I did however get to visit the mint once to look at the 1 400oz gold bar we have left. Its a beauty.Barbarous relic that it is.
but may have the most gold still in the ground...
Dark reserves, protected by dilution, and hidden withing the Kanadian shield.
Finmin is just pissed because the US and OPEC are tanking oil and making him look bad so he'd figure he would take a shot over the bow by talking off the script.........good thing most of the Canadian balance sheet is still sitting pretty in the ground.
I hope Joe is wearing a grizzly suit built by Troy Hurtubise when he says that.
How lame are economic stats from the US Office of Truth? .Even in Canada they count the people who are out of the work force for over a year. Not in US, where counting those millions and the out of work for 4 weeks( another non counted group), you actually have a 20% unemployment rate. And to prove no lie is worth anything unless it is a big fat lie.......they boost past months with big revisions! The departed Colonel Gadaffi is starting to look like a straight shooter!
The US was warned not to remove Saddam. He held Iraq together and controlled the now waring fractions in the ME.
US meddled in Lybia and removed Gaddafi who was a closer ally to Europe than any of the groups now. Groups that are funded by the US and which have brought death and destruction to millions in the region and beyond.
The US is at war with the world. The US is supporting terrorist groups that are attacking European nations.
Eurpeans are de facto at war with the US.
Fuck the US, Frau Nuland !!!!
That's UNAMERICAN!
Oliver is not ranting against the US... he is stating that other countries like Canada need to shoulder their share of the burden (more QE I assume) and give the US a hand. The Harperite government of Canada is about as supplicant to the US as is possible.
Joe ....be careful what you say.... The US 10 Mountain Division from Camp Drum NY, could all be in Ottawa within the hour by helicopter ....Joe ...just be careful what you say..... we all know the unemployment numbers are fudged....just look at what may happen to the CEO of the Gallup Poll
Don't need any invasion of helicopters...the Obama team has already situated themselves to Ottawa, and are housed at the Liberal Party HQ.
Kickstart Greece ~ 150bn ~
The US defaulted on its loans in 2008/2009. It elected a President who is probably not even American. It put the jackboot down everyone's throat to kick the can further just so that the parasitic cabal which resides in the US can live to see another day.
Chickens are coming home to roost!
I think Canada may be seeking resource based contracts in Yuan.
China has taken over as the world's largest economy.
Who needs to trade or stash US Dollars?
Cleanest shirt and all that bullshit with 18 trillion in debt and counting....
Agree with your post mostly but China debt at 27 Trillion or so is no daisy...
U.S Debt per capita... interesting chart for chart lovers:
http://www.bloomberg.com/bw/articles/2013-10-17/how-u-dot-s-dot-debt-per...
Another interesting chart,,, World debt comparison:
U.S Public debt as % of GDP == 81% China == 16%
http://www.economist.com/content/global_debt_clock
Enjoy....
Je suis Joe Oliver
FinMin sounds so boring. How about.... MiniFin, and they all have to wear shark-fin hats.
A little off topic;
Late wednesday evening Bill C-518 was passed.
A bill which evokes a politicians pension if he gets criminaly charged. the vote was 257-13 in the House.
If this was an Merican vote it would have been the other way around but worse.
All you guys have is criminal politicians.
Pure fluff. Canadian politicians are all about sucking the pension tit of taxpaying Canadians and selling out the country to foreign interests (Uncle Sam, Chairman Mao etc.)
They can't even bail out the Canadian banks without fucking that up completely.
If there was a country that punched above its weight...it ain't Canada.
Oh dont get me wrong I'm not saying they are not criminal minded . I'm just saying that the Amercan politicians would not have passed this bill by a long shot.