October 24, 2015

"It's like every Canadian just got a pay cut" as dollar plunges after Trudeau's win

Ezra LevantRebel Commander

The Canadian dollar dropped nearly two percentage points after Justin Trudeau's Liberals swept to a majority in the federal election.

That's almost two cents in four days.

During that period, only one thing as changed on the national scene:

39.5% of Canadians voted for a Liberal who has promised to raise taxes and spending, run a deficit and oppose the oil industry.

Everything we import just got more expensive, and we'll get paid less for everything we export.

It's like every Canadian just got a pay cut.

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commented 2015-10-29 00:39:30 -0400
The dollar rose today, so did everyone get a pay raise? LOL! Oil was also up over $2 a barrel, I guess the rednecks from the oil sands are happy. My vote is still to shut it down.
commented 2015-10-26 10:11:44 -0400
@drew, there were two significant drops in the TSX last week. One was when they decided to hold the line on interest rates on Wednesday. This is based on retrospective data that predates Trudeau. The other was that oil prices dropped a buck a barrel on Friday on news of further slowing of the Chinese economy. Regardless, the TSX advanced over the week by about 100 points. So, the “Trudeau influence”, if any, was actually slightly positive.

And, just FYI, the TSX is incredibly resource-heavy and the troubles in resource stocks are hiding the tear that financial and consumer stocks are going on. Royal Bank (RY) opened at 72.80 last Tuesday. Currently (well, 15min delay) it’s 75.18, up 4% on the week and 15% since it bottomed out at 68 in August.
commented 2015-10-26 02:36:37 -0400
Andrew you are making my point. It was wrong when they screwed Harper over but there is an old adage. You reap what you sow. Did you really think they were going to just roll over and play dead because the media thinks he’s cute? Politics is a nasty business. I wouldn’t want to be a politician. I’m don’t think I’m tough enough and not sure that I would want to be but if you are and you sling mud you better be tough enough to take it and you better walk a tightrope with all your colleagues behind you because if they step out of line you will get the blame for it and in some cases if they can’t get a legitimate claim against you they will just throw everything at you and hope something sticks or creates an impression you are riddled with scandals.
commented 2015-10-26 01:54:57 -0400
Andrew Harper does not control oil prices buddy, do you see the difference? This is a reaction to Justin
commented 2015-10-26 01:53:41 -0400
Andrew speculation plays a big part and the market knows Justin will be bad for Canada, let me know why it does not go up under this idiot in the future
commented 2015-10-26 00:07:33 -0400
@edward, weren’t the Harperists arguing against that exact behaviour? Now it’s suddenly fine when it’s directed against Trudeau? Or isn’t it? What exactly are you advocating for?
commented 2015-10-25 22:46:04 -0400
Andrew Peterson You should know by the way they blamed Harper when the world oil prices fell and China’s economy experiencing instability which affected everyone. Why do you think Trudeau should receive any fairer treatment?
commented 2015-10-25 22:38:16 -0400
@andrew – don’t try and reason with the majority of the commentators here. When you use Harper’s own government numbers, you’re promoting leftist propaganda, when you use data & sound analysis to disprove their points, they want you dead, threaten you & try to bully you. Typical behaviour that we’ve seen in our country over the last 10 years. Fortunately, Canadians have spoken & Harper is gone (oh, they’ll argue it’s only 39.5% of Canada that voted this way – but they forget, less voted for Harper to give him a majority).
commented 2015-10-25 21:31:14 -0400
I think it’s hilarious that the Rebel blames Trudeau because oil/the dollar dropped on bad news out of China.

Talk about grasping at straws. Who needs facts when you can just make up your own? Typical connie nonsense.
commented 2015-10-25 19:57:50 -0400
Yousa OK now I am starting to understand you better. You said " What? You are using two “left media party” stories in an attempt to prove something? Too funny". Did yo happen to check the sources of those “stories” or any of the “stories”. So this is how you discount any viewpoint you don’t want to acknowledge. Rather than looking at the source you say if it is Conservative it must be a lie and it if is from “lefty” source you say “only two lefty sources”. The left didn’t provide the data they only reported it but you found your excuse to see what ypu want to see and to avoid what you don;t.
commented 2015-10-25 19:17:08 -0400
Yousa Kamadick

Harper didn’t talk to the provinces because they didn’t want o talk. All they wanted was Harper to raise taxes on the the producers and steal the food off their table and hand the money over to the provinces, so the provinces wouldn’t have to take the blame for raising taxes. Which is the way this thieving commie country has worked for years. A practice that was largely started by the neo communist old man Trudeau, and be continued by the junior communist. Under the guise of the left wing climate change scam.
commented 2015-10-25 16:28:35 -0400
Yousa said, “Hey Peter, my opinion obviously did count, just like the other 70% of Canadians who rejected your ideology & the Conservative Party of Canada. You have to love democracy!”

But we were not talking about the election, were we. Stay on topic.
commented 2015-10-25 16:22:45 -0400
Incorrect article. Data here (Canada was in recession 6 months ago and dollar unchanged): http://www.dailyfx.com/usd-cad
commented 2015-10-25 16:11:30 -0400
Question, Do the Liberal Party promise you 72 Virgins, if you serve them well? I bet they do not tell you that those 72 Virgins are in fact Little Boys. This, of course could be to your liking. I will close by saying, what your Daddy did, when you were young, Screw You.
commented 2015-10-25 16:06:47 -0400
News flash there Blair, Harper already put us into a RECESSION … maybe if you watched the news more.
commented 2015-10-25 15:55:06 -0400
Anyone with half a brain do this was gonna happen course your brain dead liberal and you don’t have a clue I don’t even watch the news anymore I get nausaus when Trudeau is on the TV and every time I do it reaffirms to me the stupidity of the Canadian people and knows no bounds and they’re gonna pay for it but as stupid as they are they won’t even know it so they look at the paycheck and watch Canada going to recession for the next for five years thanks liberals you’ve done it again
commented 2015-10-25 15:43:31 -0400
Robert, sure, now it’s the provinces fault for federal fiscal mismanagement & federal policy. Harper never talked to the provinces in 10 years … so it’s their fault. I thought Harper said it was his “sound economic policies” that led us through the global crisis? Wrong again! lol. Morons.
commented 2015-10-25 15:01:30 -0400
A few more days of relative peace before all hell breaks loose!
commented 2015-10-25 14:57:53 -0400
Yousa Kamadick commented 1 hour ago
Fact – Under Harper, Canada has the worst GDP growth in almost 70 years. Fact – Harper has the worst job creation

That is all left wing nonsense. The federal governments economic policies were largely sound. Unfortunately the provinces economic policies are not. Add to that, the global economic policies of the left in the rest of the world that have been destroying the global economy, all which Harper has nothing to do with. Now a dope head fool of kid is running the federal government, who never had real job in his life and doesn’t have an economic clue in in head. Between them. they’ll finish off the country.
commented 2015-10-25 14:49:28 -0400
Hey Peter, my opinion obviously did count, just like the other 70% of Canadians who rejected your ideology & the Conservative Party of Canada. You have to love democracy!
commented 2015-10-25 14:19:36 -0400
Yousa said, " Sounds to me like you don’t really like hearing the truth about how poorly Harper did for this economy."

That’s because he did not do poorly, he did an excellent job. Economists around the globe praised Harper for how he handled the Canadian economy. Your opinion, Yousa, means nothing.
commented 2015-10-25 14:19:32 -0400
That’s right Edward, maybe he can’t see clearly passed the pot smoke in the room.
commented 2015-10-25 14:17:21 -0400
What? You are using two “left media party” stories in an attempt to prove something? Too funny.
commented 2015-10-25 14:10:44 -0400
Face it libtards voted in Trudeau because is said he would legalize pot. That’s the reality plain and simple . It is just that shallow. Just like the current libtard has exposed , he knows nothing about the world but he can roll a joint.
commented 2015-10-25 14:06:24 -0400
“I don’t even watch the videos, or read any of the writing. I just just come here to stir the pot & drive the radical fringe crazy.” Hmm…..nothing better or productive to do? And seemingly spend an inordinate amount of time at this. One could get the impression your “business” consists of being a paid troll by lefty media such as CBC!
commented 2015-10-25 13:58:09 -0400
Umm ..Canada was in a recession with Harper at the helm and last I checked this morning the dollar is the same as it was 6 months ago ..I have been paying close attention as I am Canadian in America who makes American $ and have been watching as to when to switch my USD $ to Canadian $ ..the dollar is the same this morning as it was 6 months ago
commented 2015-10-25 13:48:54 -0400
Hey @keith – Broke Back Mountain much? Fantasize about going to the mountains with your deliverance redneck friends, circle jerk while staring at a picture of Harper? lol. Get a grip with reality man. Data is my friend and it shows how poorly Harper & the conservatives did for our economy. What’s your friend? Oh yeah, that would be a tube of KY Jelly and a weekend “hunting” with your buddies. Remember, use protection man – you wouldn’t want the crap that spews from your mouth to get attached to certain man parts while you’re fantasizing about ole Stevie.
commented 2015-10-25 13:38:35 -0400
Fact – Under Harper, Canada has the worst GDP growth in almost 70 years. Fact – Harper has the worst job creation record in almost 70 years. Fact – Under Harper, Canada has seen a decline in the employment rate since the 50s. Fact – Harper has led Canada to the lowest export rates ever & since having a majority, exports have grown a mere 0.3%. Fact – the top 1% money earners have seen their wealth grow more under Harper than almost every other PM in history. Fact – Harper gutted environmental laws & cut $36 billion from health care funding. Fact – Harper prorogued parliament not once, not twice but a total of 4 times when he couldn’t get his way (he wanted to take his ball and go home because the big boys in parliament were being bad to him). Fact – Harper was held in contempt of parliament. Fact – Harper’s ethics guy went to PRISON. Fact – Harper has spent more than $500 million promoting his partisan programs & political party. Yale Economists indicate that Canada’s economy is one of the most vulnerable because of Harpernomics. We have a consumer debt of almost $1.9 trillion exceeding our GDP of about $1.6 trillion. In 2006, Canada had a $13 billion surplus, a net debt of $492 billion (and falling) with an EI rate of 6.6%. Harper has run deficit after deficit until this latest paper surplus of $1.8 billion. However, debt is $620 billion and climbing and our EI rate is 6.8%. We are ranked 58 out of 61 countries in our efforts to curb global warming (I know you all think this is a myth). Let’s now look at the $50 million used to boost Harper’s buddies – Tony Clement’s riding. How about the Duffy cover-up (you still don’t believe that Harper knew anything?)???? What about the In-Out scandal? Harper has also allowed Chinese companies to buy Canadian companies when he campaigned against such. Harper’s decision to send jets to help combat ISIS – $360 million a year! Here’s another Fact, under Harper, there was a cut to Arts & Culture programs – almost $50 million. It’s not all bullshit & crap like you believe. It’s not all “leftie lies” as you want everyone to believe. These are pulled from numbers published by Harper’s government. Strange how when you put it all out there – it’s still Liberal propaganda. lol.