Wednesday, December 16, 2015

Canadian Dollar & Oil - Why are Canadians being greased?

To Canadian Parliamentarians:

Can someone in our Parliament explain why one of the strongest economies in the world has its dollar valued at 72.5 cents vis-à-vis the American dollar? Canadian GDP has remained flat over the past year, with no remarkable increase or decrease, yet our Bank of Canada Governor is trying to justify a sliding Canadian dollar (i.e. from about 89 cents to 72.5 cents). A 22.7% decline.

Tragically, while Canadian consumer debt continues to rise (at almost 170% of real disposable income) foreigners buy Canadian real estate at rock-bottom prices.

The USA has a $19 trillion officially advertised national debt, 94,500,000 Americans who are not in the labour force, 15,500,000 million unemployed and unfunded liabilities of over $100 Trillion. We won’t mention the almost $500 Trillion in derivatives.

The media has done an exceptional job of mystifying the public with nonsensical statistics. I only ask, when will the truth be made apparent? You may know, or not, that the Baltic Dry Index is at its lowest point (i.e. 484 points) since January 1985. That does not bode well for global manufacturing and trade.

So again I ask, with a stable economy, why has the Canadian dollar plummeted? Many of you will say it’s about the barrel price of oil. But the reality is that oil makes up less than 8.5% of Canada’s total GDP and that overall sector has stayed rather stagnant over the past year.

The fall of the Canadian dollar means only one thing, someone has put Canada up for sale. Foreign banks, corporations and investors are stealing Canadian assets. When will whomever is responsible for this sedition be placed in jail? Please don’t suggest that exports have prospered by a lower Canadian dollar, when they have not. Currency devaluation as a global economic policy has failed for most if not all nations.

I provide you the same statistics that are provided to us by Statistics Canada. Again, why do we have a 72 cent dollar, and more importantly, why is the cost of gasoline over a $1.00?

Thank you,
Joseph Pede

Gross domestic product at basic prices, by industry (monthly)
STATSCAN
Sep-14
Aug-15
Sep-15
Aug-15 to Sep-15
Sep-14 to Sep 15

seasonally adjusted at annual rates

millions of chained dollars (2007)
%
All industries
1,642,155
1,650,625
1,642,749
-0.5
0
Goods-producing industries 
501,123
493,032
485,718
-1.5
-3.1
Agriculture, forestry, fishing and hunting 
24,239
25,065
25,151
0.3
3.8
Mining, quarrying, and oil and gas extraction 
139,055
134,474
127,595
-5.1
-8.2
Utilities 
38,203
37,646
37,776
0.3
-1.1
Construction 
124,280
120,602
120,553
0
-3
Manufacturing 
175,360
174,945
173,850
-0.6
-0.9
Service-producing industries 
1,142,223
1,158,643
1,157,993
-0.1
1.4
Wholesale trade 
96,753
94,464
94,209
-0.3
-2.6
Retail trade 
87,392
89,187
89,448
0.3
2.4
Transportation and warehousing 
69,428
71,251
71,007
-0.3
2.3
Information and cultural industries 
50,611
50,161
50,218
0.1
-0.8
Finance and insurance 
111,678
115,469
115,123
-0.3
3.1
Real estate and rental and leasing 
207,561
213,824
214,055
0.1
3.1
Professional, scientific and technical services 
87,746
88,444
88,321
-0.1
0.7
Management of companies and enterprises 
11,822
12,134
12,205
0.6
3.2
Administrative and support, waste management and remediation services 
42,767
42,609
42,526
-0.2
-0.6
Educational services 
83,521
85,359
85,220
-0.2
2
Health care and social assistance 
109,764
111,319
111,577
0.2
1.7
Arts, entertainment and recreation 
11,531
12,541
12,291
-2
6.6
Accommodation and food services 
34,295
34,002
33,856
-0.4
-1.3
Other services (except public administration) 
32,800
32,784
32,774
0
-0.1
Public administration 
105,882
106,563
106,627
0.1
0.7
Last modified: 2015-12-01.



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