At 9/21/07 01:06 PM, JoS wrote:
Real incomes are falling, Alan Greenspan says you have a 1 in 3 chance of hitting a recession now, and the odds are actually up from January, not down.
JoS, you're so ignorant of everything you ever say it makes me laugh. Greenspan said that half a year ago, and was talking about a recession that it might be possible, because that is what the US economy tends to do after a period of GROWTH by getting so far AWAY from a recession for so long. Yet it hasn't happened.
A month before then, reports showed that the US economy was outperforming Canada's in grwoth.
Meanwhile, as of August, US growth (extrapolated to yearly growth) was 4%, which is huge (considering the markets).
Canada's growth for August (extrapolated to yearly growth): 2.3%
Some people predict that the recovery that the US has been going through since 2001 after that recession will come to an end in the next year or 2.
Actually they think that 2007 is the year it will dip (which it has) and 2008 it will recover again, meanwhile, even factoring in the dip in the US economy, it is still grwoing at a faster rate than Canada's economy.
Nearly every major currency is making gains on the greenback.
And as always, the US dollar will resurge.
Serioulsy, think about the implications if the world switches from the greenback to say the Euro.
Funny, if that happened, the negative impacts would hurt the entire world. Notice how everytime the US economy becomes the center of attention, and takes the slightest of dips, it rest of the world does even harder? Notice how everytime the US economy makes a change (such as the recent interest rate cut) world stocks bounce up again?
The Euro SHOULD be catching up the US considering the size of the EU. However, since the US dollar is so dominant, even though the EU GDP is about equal with the US GDP, as of 2006 65.7% of the worlds reserve holdings were US dollars, and only 25.3% were in Euros.
One thing is you are completely fucked with your debt as it is no longer in your own currency, which currently means your debt will never change based on exchange rates. you already shell out like $50 billion a year in interest alone. With an aging population and Social Security woes, can you afford to shell out ever more, and have to do so in foreign currency amounts, not your won. You would need to increase your trade and close your trade debt. And yes I realize that as our biggest trading partner we would also be fucked by an crisis in your economy like this. However I am fairly certain it would not hit us as hard
JoS, you ignored the part where I showed how the much more the Canadian economy depends on the US than vice versa in trade. But I guess I have to do it again:
- 85.6% of Canada's exports, and 76.3% of Canada's imports are with the US.
- 30% of total employment in Canada revolve around exports. (that's about 10 million people)
- Exports amount to 45% of Canada's GDP
Conversely...
- 20% of US exports go to Canada.
- Exports only account for 12% of the US GDP.
- Canada-related exports account for 2 million US jobs. (less than 1% of Employment)
Canada would be fucked over FAR worse from the crash that you hope happens to the US. You're so blinded by your idiocy, that you fail to realize that Canada's economy is only successful based on the success it has in its relationship with the US. Even though we all know you'd LOVE the day that the US economy takes a major hit, you're simultaneously hoping for something that will damage your country in the process, and damage it more severely.
A lot of our trade with you is out of convienance you are a stone throws away rather than shipping across a whole ocean.
JoS, that's absolutely delusional. The demand for products in the US is what buoys Canada's export business (and 30% of Canada's employment) which is almost half of Canada's entire economy. There is no demand like that in the rest of the world, and since so much investment from the US is required in Canada's economy outside of exporting, there is no way it would automatically be replaced by investment from around the world.
Your piss-idiotic desire for the country that dominates yours to fail, causes you to hope for something that will damage your own country to fail further.
Also regarding the War of 1812, many of the people who lived during the war became the first official Canadians when it became a country
Certainly not the people who fought in it (not only because the fighting was done by British regularls mostly) but also considering Canada didn't become a country until 50 years later, and life-spans back then weren't very high.
I will concede it to be you not fighting Canada if you concede that the American War of Independence was started by British fighting British (ie that George Washington and his followers were British soldiers, not Americans).
That's idiotic.
The Revolutionary War was AGAINST the British Empire, it doesn't matter if the people who did it were of British ancestry. They claimed independence, and fought under command that was independent and separate from any country, and fought against British under British command as allotted by the crown. The Continental congress that commanded the war against the British had exerted control over the military, and militia, it wasn't commanded by the British, therefore there is no connection other than their blood line.
In the war of 1812, British subjects, in a part of the British Empire, under British command, fought against Americans under American command. The majority of fighting was by British-born redcoats who were under the command of British-born generals.
Canada, the country you belong to now, didn't exist for several decades, and Canada didn't even become an independent country until 1931! That was more than 100 years after the war!!!!
There is no comparison.
I would also like to point out that it was the second time you invaded the Provinces of Canada, the first time was in 1775 during the War of Independence, you made two offenses into Canada, both which failed.
As part of a larger war, against the BRITISH EMPIRE you fool. I find it hilarious that you continually claim credit for British exploits.
Why don't you then claim credit for the Napoleonic wars in Europe by the British? Why then don't you claim credit for Canada for the negative things the British did in the crusades, or in India's war of independence?
Oh that's right, because you're trying to get the best of both worlds.
And since you asked I am a 4th year honours student doing a joint-major(double major) in Politics and International Political Economy.
I don't even believe that.