Richard Crenian Blogs
I’ve been thinking about this quite a bit. I’ve been reading in the newspaper about what’s happening in Greece. Their economy is so laden with debt. When you look at the countries like Greece, Germany, Portugal, Spain you can’t help but notice they are all in dire straits. It’s no wonder! The trouble starts because they’re buying each other’s paper and gradually there isn’t money to back the paper.
In the case of Greece, the country has so much debt it cannot issue any more paper as it isn’t worth anything.
Next thing you know the Euro is affected and the European Union is scrambling to figure out what to do. What a mess!
Also, last week we spoke about what is happening in the U.S. in terms of foreclosures.
It is still scary.
Yet is happening in the USA seems starts to seem tame by comparison to what is happening in parts of Europe. Now that the Euro is weakened by all the debt you are seeing the U.S. people are now buying the U.S. dollar despite the scary things happening in the States.
I am not an expert on world politics or the world economy but whenever you read things like this it really makes you appreciate what is happening in Canada.
As the Euro falls the Canadian dollar picks up steam.
How does that play into Canada or why is Canada such a good place? When you read what has happened in the last few days you know that the Canadian economy has expanded by 5% (annualized) in the fourth quarter of 2009, and when you see a number like a 5% annualized you know that things are going well.
We haven’t seen gross domestic product growth since 2000. Why is that? Well when you look at what is happening in Canada, we have mining we have oil and gas, and we have manufacturing, construction and a whole gamut of service producing industries.
This has continued to fuel the wholesale trade along with real estate in Canada.
This may mean we will see our Canadian government raise interest rates in the third quarter or fourth quarter of this year (2010) so the economists say, in an effort to control growth and inflation and help maintain the safe economic environment we’ve grown accustomed to.
Its little wonder Canada’s fast becoming worlds preferred place to invest in.
Good governance, good place, good timing. Go Canada, go!