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Posted on 01/23/2012 7:46:46 AM PST by EnjoyingLife
Canada needs to look beyond its southern neighbour for markets because the United States economy is unlikely to ever fully recover, Bank of Canada governor Mark Carney said Sunday [January 22, 2012].
In an interview with CTV's Question Period, Carney said that it is vital for Canada to look for new trading partners in the Asia-Pacific region and elsewhere to prevent the economy from being dragged down by the U.S.
"It's going to take a number of years before they get back to the U.S. that we used to know -- in fact, they are not, in our opinion, ultimately going to get back to the U.S. that we used to know," he said.
(Excerpt) Read more at business.financialpost.com ...
For it to fully recover, you’d have to pay down the debt and cut taxes.
Then it would fully recover. Until then, nope.
“You don’t want our oil? Then go suck an egg.”
My mother-in-law thinks that someday all those good-paying factory jobs will come back somehow.
Get Obama the hell out of the White House, clean up the corrupt government agencies (EPA, Education, and... well I forget the third) and then just watch us!
This is Obama’s fervent wish that is going according to plan. The post American world. Canada is just covering their bases as any other country would looking out for their interests. They see the suicidal, anti-American lunatics currently in charge and are acting accordingly.
As long as the US continues to trade with communist china, as long as the US continues its suicidal policy of “free trade” (which is neither free nor fair) the US will continue to decline, its standard of living continue to decline, its unemployment continue to increase, and it will continue to lose its manufacturing industry.
20 years from now, nothing will actually be produced in the USA. There will be no such thing as : “Made in USA”
“My mother-in-law thinks that someday all those good-paying factory jobs will come back somehow.”
Lots of people think that. They are normally seen hanging out drinking in seedy union halls around the block from the closed factory in the dying midwestern city. It’s like a cargo cult; they believe that the closed factory is like the “airplane” made of grass and straw that will someday bring back the old jobs.
Sad, really.
The GOP could absolutely destroy this idiot in the White House if they could get a coherent message together.
Alienating a neighbor with such strong ties to us is insane. It’s already happening in South and Central America. And has happened with the UK from day one.
Obama is a one man wrecking crew.
Good book, by the way.
Her husband (my father-in-law) retired from a both a private and public union. They go on cruises and vacations more often than I go out to eat.
The concept of recovery is flawed. The goal should not and will not be recovery. The goal will be transition from the old to the new and better.
That which was old and now gone will be replaced with that which is unknown but new and different. The thought is not of static continuance but of dynamic emergence.
““My mother-in-law thinks that someday all those good-paying factory jobs will come back somehow.””
What we have today is different than any other recession that was in history. In the old days, during economic slumps companies would temporarily close down, but they would reopen as soon as things picked up and demand increased. Keyensian economics does not work if you have no manufacturing industry - more spending today only means that Americans will be buying more communist chinese goods.
The jobs we lose today to communist china, are NEVER!!! coming back!!
As long as we have Oloser in office, and keep borrowing money, we won’t recover. It will take a government that understands the virtues of tax cuts and government downsizing. Both will be required.
Its funny that people think getting Obama out and some Republican in will stop America’s long slide. We’ve been giving away our industrial base for 40 years under both parties. It started under Nixon and continues to this day. So long as we have globalization where American labor has to compete with workers in other countries that make 80% less, our standard of living will fall and our competitors standard of living will rise.
You need to look now further than the USA owing China 2 trillion dollars to figure out which nation is getting rich and which nations is getting poor.
+++++”it is vital for Canada to look for new trading partners in the Asia-Pacific region and elsewhere to prevent the economy from being dragged down by the U.S.
+++++”
it is vital for THE STATES OUTSIDE Northern Virginia, Conn, Mass, and New York, to look ........elsewhere to prevent their economy from being dragged down by the the Eastern Bloc.
It’s a vicious cycle. Manufacturing jobs are going overseas because of high costs of doing business in the US (high corporate taxes and the threat of higher income and cap gains taxes and union wages, and the world’s worst regulatory climate). Because our shrinking domestic is shrinking, productive skills skills atrophe.
To break out of this we must roll back our high tax and regulatory climate, and the get back knowledge and skill base that gave us the wonderfully creative hi tech industry we of the 1980’s.
This necessitates eliminating the Dept of Education, labor unions, as well as good fiscal management. Not a chance of this happening so long as the Democrats are in a position to block any of this. Once we get there (lots of luck), everything will come down to seeing if our bio - tech industry is up to growing testicles on Republicans..
Paying off 16+ trillion in old debt, plus the new debt that all but one presidential candidate would add, plus the interest on all that debt pretty much insures that we are economically screwed for more then a few years. And that is without even addressing the 70+ trillion we owe in unfunded mandates.
..because the time for the US to be providing free military guardians, intellectual property from our once vast space program as well as the enormous amount of research that we have done to improve the world is OVER..
..please don't send anymore of your people here seeking fast, efficient health care..
..and please, be prepared to take on more and more of the world's illegal immigrants.....we'll build a railroad just so they can go from Mexico right to your border...
the party's over....you can be big brother from now on....$$$$$$$$$
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