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50% Of Canadians Say They Are Within $200/Month Of Being Unable To Pay Their Bills
50% Of Canadians Say They Are Within $200/Month Of Being Unable To Pay Their Bills It was just last month when we profiled Canada’s “other problem”: record high household debt. Canada is struggling to cope with falling crude prices which have put enormous amounts of pressure on some parts of the country, most notably Alberta, where suicide […]
Negative Interest Rates Already In Fed’s Official Scenario
Negative Interest Rates Already In Fed’s Official Scenario Over the past year, and certainly in the aftermath of the BOJ’s both perplexing and stunning announcement (as it revealed the central banks’ level of sheer desperation), we have warned (most recently “Negative Rates In The U.S. Are Next: Here’s Why In One Chart”) that next in […]
More Central Bank Trouble in Canada
More Central Bank Trouble in Canada Yesterday, the Governor of the Bank of Canada Stephen Poloz surprised many by not lowering the target for the overnight rate to 0.25% from 0.50%. The central bank cut this rate twice last year in an attempt to stimulate the economy. During the past nine months the TSX index […]
Canada Rebels against the Destruction of the Loonie
Canada Rebels against the Destruction of the Loonie The fear of “currency instability.” “Without precedent” — that’s what National Bank of Canada’s chief economist Stéfane Marion called the wholesale destruction of the loonie. The Canadian dollar is in a tailspin. Rarely has it tumbled so far so fast, and against so many currencies. The steepness of […]
Canadians Are Panicking Over Food Costs After Currency Collapse
Canadians Are Panicking Over Food Costs After Currency Collapse It’s no secret that America has a serious inflation problem. Though the Federal Reserve insists that our inflation rate is only at around .5%, we’ve all seen the price of food, rent, healthcare, and energy skyrocket over the past 10-20 years. However, this has been a […]
Alberta Freezes Government Salaries As Canada’s Oil Patch Enters Second Year Of Recession
Alberta Freezes Government Salaries As Canada’s Oil Patch Enters Second Year Of Recession On Wednesday, we documented the astonishing prices beleaguered Canadians are now forced to pay for groceries thanks to the plunging loonie. Oil’s inexorable decline has the Canadian dollar in a veritable tailspin and because Canada imports the vast majority of its fresh food, prices […]
Canadian dollar dips below 71 cents for 1st time since 2003
Canadian dollar dips below 71 cents for 1st time since 2003 Oil and threat of global conflicts weigh on risky loonie The Canadian dollar is dropping to levels not seen since the summer of 2003. (Pawel Dwulit/Bloomberg) The Canadian dollar lost more than half a cent this morning, pushed down by oil prices and widespread […]
WTI Plunges To $35 Handle As Loonie Hits 12 Year Low
WTI Plunges To $35 Handle As Loonie Hits 12 Year Low WTI Crude prices just broke back to a $35 handle for the first time since mid-December as the combination of un-growth, Saudi price cuts, a rancorous OPEC, and production increases weigh on the world’s most important commodity. At the same time, oil producers are getting […]
This Is What Gold Does In A Currency Crisis, Canadian Edition
This Is What Gold Does In A Currency Crisis, Canadian Edition Along with the currencies of most other commodity-exporting countries, the Canadian dollar has been in near-freefall lately. Gold, meanwhile, has been sucked down with the rest of the commodities complex, falling hard since 2013. But only in US dollars. For Canadians, with their weak domestic currency, […]
Halifax Superstores warn of short supply due to weather, dollar
Halifax Superstores warn of short supply due to weather, dollar Grocery bills likely will go up in 2016 due to vegetable and fruit prices, a report says Inflation is modest at 1 per cent, but the price of fresh vegetables was up 11.5 per cent in September, Statistics Canada said. (Jacques Boissinot/Canadian) Some grocery stores […]
Canadian dollar on track for 2nd-worst year ever
Canadian dollar on track for 2nd-worst year ever Currency is down 17% year-to-date against the U.S. currency The Canadian dollar hasn’t been at par with the U.S. dollar for three years. This year, the loonie’s slide against the American dollar was one of the biggest ever. (Mark Blinch/Reuters) The word “beleaguered” — often used to describe […]
Canadian dollar tumbles to close below 72 cents US
Canadian dollar tumbles to close below 72 cents US Oil slips below $35 US amid continuing strength of U.S. dollar Some analysts say the loonie could eventually fall to 70 cents US as the currency is pressured by low commodity prices, and the diverging interest rate policies of Canada and the United States. (Mark Blinch/Reuters) […]
The Next Domino: CANADA
The Next Domino: CANADA The Federal Reserve has kept its zero interest rate policy (‘ZIRP’) for several years (and much longer than originally anticipated) whilst the European Central Bank seems to be getting serious about doing ‘better’ and has now reduced the deposit rate at the ECB to -0.30%. It’s already remarkable a central bank doesn’t seem […]
Bank of Canada Crushes Loonie, Creates Mother of All Shorts
Bank of Canada Crushes Loonie, Creates Mother of All Shorts Clear winners: rich Chinese who buy homes in Canada. The Canadian dollar swooned 1% against the US dollar on Friday, to US$0.7270, after having gotten hammered for the past six of seven trading days. It’s down 5% in November so far, 15.5% year-to-date, and 31% from its […]
