For the last many years we keep hearing from the Prime Minister and the Minister of Finances how great the Canadian economy is doing.
Is it doing that great?
From the headlines this morning:
"Canada posts larger trade deficit in blow to recovery hopes"
Canada posted a much larger than expected trade deficit of C$940-million in November, most likely knocking market hopes that the beleaguered export sector might be starting to recover.
The deficit – the 23rd in a row – was significantly wider than the C$140-million shortfall forecast by market experts.
Statistics Canada on Tuesday also revised October’s initial surplus of C$75-million to a deficit of C$908-million, in part to reflect revised data on crude oil prices. Initial trade statistics for any given month include estimates of crude prices rather than hard figures.
OK - we all know that short term numbers do not tell the whole story. Monthly numbers may vary widely from month to month, even if this is the 23rd monthly deficit in a row!
Lets us look at the bigger long term picture.
Back in 2007, after the Conservatives took power and inheriting a strong economy from the Liberals, the Canadian trade surplus was over $45 billion dollars. By 2012, five years later, Canada was showing a trade deficit in excess of $12 billion dollars.
From Stat Canada: http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/gblec02a-eng.htm
And, as the most recent numbers show, things are not really improving, are they?
Ready for an election folks?
"Get those two pipelines built"
Good Luck with that. What about aboriginal rights to that land? What about ecological problems?
Who can argue against pipelines to transport our most valuable resource.
