Economic News in late March 2010
For the US the same is true, so that's why you see economic warfare starting, bets against eac other's currencies.If you can't come out of it anymore, you still can drag downt he other and so artificially give yourself just the advantage you need.but the other, if it'sa comparable power, comes back...you drag eachother down with a very high price tag.
They all should cooperate and make a plan for coming decades and then use a tobin tax to rebuilt some physical economy, some gold, some other assets thathedge up debts and derivatives. Then confidence can return as well and the direction we're going is positive again.But if these big powers are being engaged in economic warfare, then we're all gonna collapse sooner or later.
Also Canadas economy is lagging behind, not in a very deep recession yet it seems...at least less bad than in the USA.
So if Canada's unemployment claism per week or per month are onefith compared to the US, while it's population is just above one tenth of that of the Us, you know somebody in the US must belying about it's figures, cause Canada is not going to make itself looklike worse on purpose, it obviously uses more honest figures.
As both economies are fairly comparable, the income per capita is almost equal too, there cannot be a terribly big change.
Compared to the stated U.S. job losses of 600,000, Canada has lost 129,000 jobs in January. The population of the U.S. is around 300 million compared to 30 million in Canada. Therefore in comparison with the U.S., Canada should have only lost around 60,00 jobs. The figure of 129,000 means that Canada's unemployment figures are over double what would have been expected. Either that or the U.S. figures are being artificially under-reported.
The US should have 10 times this 129,000 figure that Canada has AT LEAST, at least because the Canadian economys is running less bad than that of the USright now.
So according to sucha figures the US figure for January could eb easily 1.5 million or even 2 million.
Paul Craig Roberts was a member of the Mont Pelerin Society but he quit - looks like he turned on them recently. He wrote an article calling for Protectionism which is against Free Market dogma.