Cdn GDP Slips

[errolanderson]

Cdn GDP released this morning shows
Canada's economy beginning to shrink.
Our GDP declined 0.2% during February.
Expectations were on the plus side. Bank
of Canada's growth expectations of 2.5%
appear out-to-lunch.

Doubt BOC Chair Carney will mention
hiking interest rates in any of his
speeches anytime soon.

Our GDP disappointment is now on top of
Friday's disappointing U.S. annualized
GDP of 2.2% and Spain's rapidly oncoming
recession/depression.

This will create bumps in the commodity
world. Loonie likely to fall back on
this news.

Errol

[bucket]

And in a month they revise the numbers to make them look better.

Of course the economy is shrinking, a company like potash corp has had people on layoffs for a couple of months because they can't come to terms with lowering their price on fertilizer to keep things jugging along.

In a fragile economy, it makes more sense to be hitting base hits than swinging and missing home runs.

If the fertilizer companies think they can squeeze farmers, good on them but what happens when FNA or some other company buys a couple of boatloads of off shore product. That doesn't help the domestic economy or the current NA fertilizer producers.

[liberty]

Notice that GDP has slipped despite all of the "stimulus" borrowing the last 4 years.

Naturally the defenders of stimulus will reply that GDP would have shrank more without it.

On a related topic, Jim Flaherty had the good sense to say no to an IMF request for a $7 billion loan from Canada to help bail out the failed socialist workers' paradises of Europe.

Make no mistake about it: the mountains of debt piling up around the world are being monetized by central banks. Expect the process to accelerate in the near future. At least those of us in the commodities business can benefit from the otherwise destructive impact of inflation.

[wilagro]

Keep on importing more goods from the Orient with little or no restrictions and watch the goddamned GDP slip some more. Every free trade agreement signed with some foreign country just makes things worse not better as Harper seems to think. We as a country are sitting ducks and are leaving ourselves wide-open for more financial and trade problems.

[blackpowder]

Wilagro, your economic rants should stay in the seniors center where they belong. If you truly wanted to be an 'island' you would move to Cuba.
Appears to be working well for them.

[ALLFARMER]

Ya we have to be traders....mining, oil and gas,
logging, grain gotta move product.

[errolanderson]

Occupy protests are planned across
Europe today primarily targeting toward
banking community. Italy,Portugal, Spain
and Britain are all set to protest.

Fingers crossed that this doesn't
escalate riots.

Spain's problems appear a lot deeper
than a double dip recession (which
sounds more like a flavor of an ice
cream cone). Spain is clearly heading
into a depression, just like Greece.

Global oil prices might drop further
straight ahead.

Errol

[ALLFARMER]

Errol it's the P.I.G.S.!

Portugal Itally Greece Spain

[errolanderson]

add Britain to that list

PIIGS plus a big 'B'