01 December 2008

Stability? Who Needs It? Canada

Here's a big surprise:

Political uncertainty, economic gloom and falling oil prices dragged the Canadian dollar down Monday, with the loonie at 80.21 cents (U.S.), down 0.63 cent, in morning trading.

The Canadian dollar was down “partly due to weakness in global markets to start the week,” Bank of Montreal economist Douglas Porter said.

“But as one analyst noted, currencies backed by strong, stable leadership are being rewarded in this tumultuous environment, and Canada has the opposite,” Mr. Porter said in a note to clients.

If I were the type to say "I told you so," this would be a key time for me to say "I told you so." However, with the fate of Canada's economy hanging in the balance because of socialists and separatists, this may not be the best of times. Canada's serious political parties--you know who they are--should not be looking to drive the knives into each other, they should be looking form a coalition of their own. If there is one area that Liberals and Conservatives should be able to work together on a common front, it is fiscal responsibility and economic stewardship. I call on Messrs. Harper and Dion to reach out to each other rather than looking to the gadflies for assistance, so that a real plan for all Canadians can be crafted.

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