By raising interest rates, the governor of the Bank of Canada is saying big business does know best -- at the expense of families.
bank of canada
The Loonie has flown up above 98 cents U.S., and could well remain a few cents below or above the U.S. dollar for awhile.
It's a financial mood swing, not economic reality, that explains the loonie's rocketing ascent. To rein in the loonie, we must rein in the oil export juggernaut squeezing out all other exports.
According to the Bank of Canada, down is up. What most people see as an economy in decline conceals a "nascent" recovery, with real growth starting in the last six months of this year.
The Ontario and Canadian governments are putting the squeeze on retired autoworkers. Call it General Motors decides on our behalf.
We need more than financial stability. We need an ethical financial sector whose commitment to shared prosperity equals its desire for stability.