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Tuesday, November 3, 2015

Ari Altstedter — Money is flooding out of Canada at the fastest pace in the developed world

Money is flooding out of Canada at the fastest pace in the developed world as the nation’s decade-long oil boom comes to an end and little else looks ready to take the industry’s place as an economic driver.
Canada’s basic balance — a measure of national accounts that spans everything from trade to financial-market flows — swung from a surplus of 4.2 per cent of gross domestic product to a deficit of 7.9 per cent in the 12 months ending in June, according to analysis from Kamal Sharma, a foreign-exchange strategist at Bank of America Merrill Lynch. That’s the fastest one-year deterioration among 10 major developed nations.…
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4 comments:

  1. Roger EricksonNovember 3, 2015 at 4:32 PM

    No problem .... IF they replace foreign fiat with aggregate fiat.

    As usual, Canada has nothing to fear but fear of it's own public initiative. :)

    ReplyDelete
  2. Matt FrankoNovember 3, 2015 at 5:02 PM

    Roger nothing is "flooding out" of Canada... dont be misled by the metaphor here...

    They have reduced the price of their exported oil in USD terms that is all.

    ReplyDelete
  3. Roger EricksonNovember 3, 2015 at 6:40 PM

    Thanks Matt.

    I wasn't motivated enough to read the article anyway. Just commented on semantic principle ... and probably shouldn't have bothered. :)

    ReplyDelete
  4. IgnacioNovember 4, 2015 at 4:45 AM

    Canadian dollars cannot "flow" out of Canada...

    ReplyDelete