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News: Canadian Dollar to fall even further down to $0.73
Member Since: 7/15/2012
Posts: 35,409
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before you hoes tried to drag Trudeau, remember how Harper ruined our economy  Trudeau hasn't even done anything yet 
And btw
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Justin Trudeau, Canada’s newly elected prime minister, is under no illusions about his country’s relationship with the United States.
“For our American cousins, the relationship is consequential. For us, it has often been definitional, ” Trudeau said earlier this year. “Prime Ministers and governments are commonly and rightly judged by how they foster that relationship for the greater common good … this is how it should be.”
[...]
Harper tried to play up his experience helping Canada weather the recession of 2009-2011 as reason to elect him to a fourth term. But his conservative approach to tackling the economic downturn, which included austerity measures and tax cuts on the wealthy, didn’t resonate with Canadian voters. Trudeau’s numbers rose significantly after he revealed his economic plan, which was diametrically opposed to Harper’s. Trudeau argued that now was the time to increase, not cut, spending so Canada could “invest” in its infrastructure. Ironically, that’s exactly what Harper did to get Canada out of recession in 2009. But Harper played up cutting budgets and taxes to get conservative voters to come out and support him. But it seems to have backfired.
Thus ends a decade of Conservative rule in Canada. Trudeau is unabashedly liberal, and he is in favor of raising taxes on the rich and running deficits to achieve his economic goals. It’ll be interesting to see how he plans to do that when oil from Canada’s tar sands is trading at under $30 a barrel. But Trudeau likely knows that in order for him to tax and spend, Canadian oil prices will need to rise. To do that, he will need help from the United States.
Yes, this all comes back to the Keystone XL pipeline.
Canadian oil trades at such a discount to the U.S. benchmark price of oil is not just because it is more expensive to dig up but also because it is basically trapped. Pipelines that go to and from the massive oil sands of Alberta only connect with refineries in the U.S. Midcontinent, severely constricting the market potential of Canadian crude. Keystone would change that as it would (eventually) connect Alberta with America’s largest refining, which is located on the U.S. Gulf Coast.
Keystone would also allow Canadian oil to be shipped out of North America for the first time, through ports in Texas, meaning that if U.S. demand for oil slumps, it can sell it elsewhere. Trudeau claims that Harper royally messed up the plans to build Keystone by pursuing an arrogant and hard-nosed approach with the Obama Administration. “From the famous ‘no-brainer’ comment in 2011 to the endless stream of ministers who went to the U.S. to lecture the Obama Administration, this was Harper’s strategy. And it is his failure,” Trudeau said in a speech earlier this summer.
Trudeau has argued that the act of building a simple pipeline through the U.S. wasn’t really the contentious issue; it was how Canada approached the matter. After all, this is just a pipeline—the U.S. has thousands of miles of pipeline crisscrossing everywhere—why would they be so opposed to helping out their Nafta ally? The fracking revolution may have lowered U.S. dependency on foreign oil, but it didn’t eliminate it. It still needs Canadian crude, and its refiners in the Gulf Coast were set up to process the country’s heavy tar-like oil. And while Canadian crude may be exported, the subsequent increase in oil prices as a result would be more likely to hurt U.S. refining margins than it would negatively affect drivers at the pump, given the depressed demand for gasoline in the U.S.
Yes, the Keystone pipeline was a “no brainer,” as Harper put it. But saying that to a sitting U.S. president facing reelection was not wise. Canada is undoubtedly a great friend and trading partner to the U.S., but it is hardly its equal on the world stage. Harper seemed to have forgotten that point and President Obama held up Keystone as a reminder of that power.
Trudeau wants to change that. He recognizes that Canada needs the U.S. more than the U.S. needs Canada. Unlike Harper, Trudeau wants to work with the Obama Administration in assuaging concerns, be they real or imaginary, that Keystone would be harmful for the environment. That won’t be done through the commission of more studies; instead, it will be done via bargaining and respect. For example, Canada could offset the environmental pollution that would come from Keystone oil by promising to cut greenhouse emissions elsewhere in the country.
“Mr. Harper continues to pretend that there’s a choice between environment and economy,” Trudeau said in a televised debate with Harper in September, which was held in the heart of Canada’s oil country. “He chooses to say that you cannot build a strong economy if you’re protecting the environment.
“That has been his failure—and that has been his failure felt right here in Calgary. He talks about being the best friend that Calgary has ever had, that Alberta has ever had. But he hasn’t gotten pipelines built. He has made the oil sands a pariah.”
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http://fortune.com/2015/10/20/justin...rime-minister/
Remember, with either Hilary or Bernie is gonna win the next election, Trudeau will be much better with his plan than Harper's
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Member Since: 1/20/2012
Posts: 27,830
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Originally posted by ABEL-o-matic
The Dollar doesn't tell the complete story of the US economy. True, the USD is stronger now, but the current reality is that Americans are already $18,000,000,000,000 in debt and is expected to grow to $21,000,000,000,000 by 2019. This is just 3 years from now.
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That's not Obama's fault though.
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Member Since: 11/23/2011
Posts: 46,048
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Time to visit Canada. I hear moose and reindeer are a must try.
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Member Since: 5/18/2012
Posts: 20,576
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Quote:
Originally posted by ABEL-o-matic
The Dollar doesn't tell the complete story of the US economy. True, the USD is stronger now, but the current reality is that Americans are already $18,000,000,000,000 in debt and is expected to grow to $21,000,000,000,000 by 2019. This is just 3 years from now.
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This has nothing to do with currency.
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Member Since: 3/26/2012
Posts: 37,592
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good thing i like being poor
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Member Since: 12/7/2011
Posts: 18,969
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Originally posted by Tropez
This has nothing to do with currency.
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It doesn't matter that the USD is high now, American debt is ****ed up. That's what matters 
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Member Since: 12/7/2011
Posts: 18,969
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Quote:
Originally posted by EdgeOfAddiction
Time to visit Canada. I hear moose and reindeer are a must try. |
And a 13% tax says hi on everything you buy here. Except for a bag of sliced bread, and some bananas.
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Member Since: 3/15/2013
Posts: 5,210
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people are actually blaming trudeau???????/ he isn't even PM yet
what else do i expect from a forum full of CONSERVATIVE voters tho
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Member Since: 8/7/2015
Posts: 7,228
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Quote:
Originally posted by ABEL-o-matic
It doesn't matter that the USD is high now, American debt is ****ed up. That's what matters |
Someone sounds a bit pressed  .
Anyways A strong U.S Dollar is a bad thing for companies in the U.S  . I can only hope and pray it weakens in the upcoming months.
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