Monday, March 22, 2010

Northern Tiger

That's what this red star columnist is saying. Canada has a debt to GDP ratio among the lowest in the G8. Indeed the US and the UK are set to join Greece with debt to GDP ratios of greater than 100%. Japan's is running at 200% of GDP.
Most of our economic numbers are moving in the right direction. We are showing signs of a good recovery. I wonder how if iffy and his deep thinkers will bash Canada's economy at their conference without grit mps. This is certainly very bad news for the grits.

That term was coined by then-federal finance minister John Manley during the most recent Canadian boom, the likes of which most experts thought we wouldn't see again for many years after the devastating global economic meltdown of 2008-09.

Yet improbably, given continued Canadian export reliance on a weak U.S. economy, Canada is already on the mend. Canada has posted job gains in five of the past seven months. The loonie has soared to a 20-month high and is expected to break through its 2007 record of $1.10 (U.S.) this summer.

And in this next period of Canadian prosperity, there'll be no need for Canada-boosters such as Manley to tout Canada's favourable conditions to foreign investors.

Canada's attractive record in job creation, GDP growth and comparative fiscal strength is well known to foreign institutional investors and central banks, which have been snapping up the loonie, federal and provincial bonds and Canadian corporate debt securities.

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