We have been packing , moving, storing etc and so a little lax on my commentary.
But this central bank stuff is really scary. For a brief moment the US Fed got a little common sense , stopped the printing press and was going to begin some necessary interest rate hikes . Well it didn’t last long. Their predictions on growth have been all wrong. They thought the $800 million stimulus would get growth over 3% ; it did not . Then by printing more money , quantitative easing they like to call it, and continued low interest rates , this was to be the panacea . Not likely! Add to that continued large deficits by the Government and you have a recipe for problems down the road. The only thing that keeps Uncle Sam going is that almost everyone else is worse. Look at the crazy negative interest rates in Japan and even Germany? Not healthy. And now more pause . Then there is the really low new factory orders, low participation rate .
Of course Canada is plodding along . If I hear the word infrastructure any more I will scream to high heaven. There is still this myth that somehow you can spend your way out of all your economic and financial problems. Make it more difficult to create new wealth through pipelines etc , but spend away through deficits on transit lines. Quebec looses to Las Vegas on a new NHL franchise . One of the chief reasons is the currency issue .
Now tell me why the looney is over 20% lower the the Yankee green back ?