By Kate Gibson
Last update: 9:07 a.m. EDT April 22, 2008
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NEW YORK (MarketWatch) -- The Bank of Canada on Tuesday said it is lowering its target for the overnight rate by 50 basis points to 3%, with the bank projecting a "deeper and more protracted slowdown in the U.S. economy." The bank forecast the Canadian economic would grow by 1.4% this year, and 2.4% in 2009. End of Story
"deeper and more protracted slowdown in the U.S. economy"
But the bulls continue to dream about the US economy coming out of all problems soon.
starthrower is ranked in the community as Analyst
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Sorry to all Canadians for the greed of some Americans. Americans seem to rule the world, for good or for ill. So often for ill.
allthemoney is ranked in the community as President
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The greedy lenders and the discontent people who thought they needed to impress their neighbors and co-workers brought this on them selves!
PLEASE DON'T GET ME INVOLDED AND BLAME ME AN AMERICAN!
WE GET BLAMED FOR ENOUGH AND HAVE NOTHING TO DO WITH IT!
THANKS!!!!!!
PLEASE DON'T GET ME INVOLDED AND BLAME ME AN AMERICAN!
WE GET BLAMED FOR ENOUGH AND HAVE NOTHING TO DO WITH IT!
THANKS!!!!!!
economics101 is ranked in the community as Analyst
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I think Starthrower was referring to the fact that Americans brought this on themselves. Consumers bought homes beyond their means (i.e. jumping at sub-prime mortgages offers) and the financial markets got caught with their pants down via securitization (i.e. through the use of MBSs and CDOs.) Seems to me that puts Americans (consumers AND financial institutions) in the guilty as charged category.
suntubi is ranked in the community as Manager
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Starthrower - grow up. The US does not rule the world, nor do they want to. Canadians do not need the apologies of one lone thinker.
MDASHL is ranked in the community as Vice President
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HAHAHA! You must have fallen asleep "sunning in your tubi" since 1913.
suntubi is ranked in the community as Manager
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? 1913?
Knipfty is ranked in the community as President
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I welcome the lower rates. Not if the EU will get on board and start lowering their rates, the world economy may actually start improving.
mysak is ranked in the community as President
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ECB won’t cut rates significantly (if at all), when the consumer prices in Europe went up. The inflation throughout EU zone and other countries (Sweden, Czech Republic, The Baltics) creates more concern than slowing growth rate. So far, inflation is in the highest level since 90’s and growth is still solid. Export was still up as of February, and there was significant surplus of trade. Therefore, inflation is the biggest obstacle for ECB. Food prices are responsible for rise of inflation in past several months. Milk, dairy products such as cheese and butter, wheat and barley, and beer is all up comparing to last year. Taking socialist approach of EU toward agriculture and farmers’ subsidies, the problem will not solve food inflation in short term.
hihosilver is ranked in the community as Director
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The world's economy cannot improve till we create equality between the haves and have nots. And this will, indeed, be an arduous task since we are simultaneously facing global warming with its consequence of wars fought over water, food. So we have a choice: level the playing field now or create a hideous future for the babies on Earth.
The problem between "haves" and "have nots" is all in the mind. All of God's kids are entitled to having as much abundance and prosperity as they desire. Leveling the "playing field" or redistributing wealth is not a solution - it's been tried a million times through political revolutions and only leeds to needless suffering and bloodshed. The key is in teaching people to change how they process their world and themselves within their own minds. Prosperity is a matter of perception and achieving abundance is mainly a non-religious spiritual excercise of sorts... 
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Mijomar67 is ranked in the community as Director
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Hey HipCatPat...take the 'religious' filter out of your picture of the world and then take a good look. How hard were you willing to work for what you've got? How much of that hard work is in your mind, your preception...bs. Its always about how hard a person wants to work for what they desire, and are willing to sacrafice for, period, regardless of their religious attitudes.
Mijomar67 is ranked in the community as Director
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In the long run, it all boils down to too many people going after a set of fast declining resources, globally. Everyone thought, for years, that they could have as many children as they could afford and then one or two more. Now we're all paying for that lack of foresight, and may never recover, at least not in our lifetimes. We should all, across the globe,consider limiting our family size to a total of four. That wont solve todays or tomorrows problems, but it will give our childrens children, and an over exploited planet, a better chance of regaining its' it poductive balance.
Nature will not wait for us to come to our collective senses, but will make its own adjustments and it wont be pleasant.
Nature will not wait for us to come to our collective senses, but will make its own adjustments and it wont be pleasant.
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