Canada Retail Sales

[errolanderson]

looks like the consumer needs aid as well? . . . .

Canadian retail sales in April (released this morning)at -0.01% as compared to the average trade guess of 0.7%.

Canada inflation for May pegged at 0.9%

Loonie down today to due to the slowdown in consumer purchases. Not sure I'd want to be a car salesman these days.

Bank of Canada may be forced to cut rates further possibly this fall.

[boarderbloke]

With this news, where might the dollar find support?

If BofC trims interest rates(where's the room???), where might the CAD find support?

[errolanderson]

boarder . . . personally not fearing the downside in the spot loonie for the reason that the U.S. is not doing so good (contrary to media reports). U.S. GDP has hit recessionary territory.

The U.S. dollar is actually beginning to slide. Janet Yellen again moused-off on a Fed rate hike again this week despite pounding-the-drums she will do it.

The gig-is-up for the Fed . . . .

[boarderbloke]

errol, I've always thought that "those that pull the leavers" would keep this thing together as long as obama was in office. He's made lots of friends on Wall St. If there's a crash it'll be on his legacy and the economic fallout on the dem party.
I get the feeling that this whole thing has gotten so big that nobody can control it or steer it.
You haven't even mentioned Greece, try throwing that into the mix as well.

[errolanderson]

boarder . . . the whole Eurozone is at risk of breakdown down-the-road. Greece is in full default . . . whose next? Why is Spain and Portugal and Italy not in the news. They'll be next to deal with.

The biggest risk to global financial markets (IMO) is a U.S. rate hike. Huge contagion risk both within and outside U.S. borders. Both the IMF and the World Bank have strongly suggested that timing of this hike would not be good.

U.S. Fed governors say they want to 'normalize' rates. Well . . . good luck with that one. This statements just suggest that some of these key decision making people are at a loss of the true global risks.

Realize these are different times, but in 1937, the U.S. tightened monetary policy too quickly . . . the rest is history.

[fjlip]

http://www.pray4zion.org/thecomingshemitahjubileeyear57745.html

[boarderbloke]

When you think you have nothing to loose, and just want everything to come crashing down,,,

[URL="http://www.ft.com/cms/s/0/6a111b26-1583-11e5-8e6a-00144feabdc0.html#axzz3dWMxE56B"]Greece[/URL]

[foragefarmer]

Broaderbloke

"If there's a crash it'll be on his legacy and the economic fallout on the dem party".

The Iraq war cost was 5 TRILLION. Are you forgetting who started it. GEORGE W BUSH who as I recall was a Republican.

Let's point the finger in the right direction!!!!

[boarderbloke]

Not sure what the Iraq war has to do with a stock market crash during obama's term as president, it'll be pinned on obama. Iraq has been pinned on W.

[samhill]

Forage, the 5 trlyn went to the US military industrial complex, so the US still has it.

[errolanderson]

To me, the root of these overspending, overcredit era stated in the 1990 Clinton era.

Bill Clinton stated that every American deserved a house.

Bad policies blossomed from there on credit . . . .

PS: Cheney had a zingerrr statement as well . . . when the then vice-president of the U.S. stated that 'debt doesn't matter' This was worthy of some sort of an award I'm sure from the mortgage industry.

[foragefarmer]

Bloke

You don't feel that he 5 Trillion taken out of the US economy won't help right now. That tax money sure would have gone along way to fix their infastructure which is in dire straits , creating many more jobs which in turn means a healthier economy. Or maybe lower personal taxes which again leaves more money in US taxpayers pockets. Money that turn could go toward savings, retirement funds or just spending. Just a thought!!!

As I recall Obama just stepped into the White House when the Subprime started. The crash of Lemman Bros, the bailout of Citi and Bank of America, GM, Crysler etc etc.

I guess the question I have for you if you had invested your money in the US Stock Market (maybe you have) in March of 2009, how wealthy would you be right now? Arm chair quarterbacks have been saying the USA market is going to crash the last 5 years. Nothing has happened. Now don't get me wrong I realize it will not go up for ever, so don't give me that story line. I'm well aware!!!

So to say that Obama is to blame is stretchng it a bit.

[boarderbloke]

forage, the money was printed, not taxed out of the economy, that's why it was off the books.