Forbes: 10 Reasons Canada is Cheering

Discussion in 'Economics' started by Kassz007, Feb 17, 2010.

  1. 1) Canadian people tend to be bullish on Canada!
    2) When the torch goes out at the Olympics, there ought to be a downturn. We'll see. :cool:
  2. 1) Perhaps we know something outsiders don't?
    2) Can't tell if you're being sarcastic here. Do you really think the olympics has much of an impact on the economy?
  3. I believe, it was several months ago, OECD gave Canada the most sound fiscal ratings for banking. I have looked at opening accounts, but every time the want to rip me so bad on the exchange USD to CDN, approx 1.5 cents, for a larger account.

    To your second point, yes short term boost to BC, but I have seen studies where long term its a financial drain on hosting country. Greece I heard spent 9 bil, granted they have a lot of other issues besides that.

    The downside of a sound banking system is no competition. My buddy in Ontario complains about the fees from banks and brokers too. Have you seen the cost per RT with a Canadian based futures broker, its a joke. Trade Freedom was like $10 last time I checked. But hey your accounts are insured by CIPF.
  4. I own the CAD, COS.UN and Novagold.

    All have done great for me and I will continue to hold all of them for at least a year of 5 longer.
  5. 1.5 exchange is indeed crazy if true. But can't you just exchange your USD to CAD at your USA bank and then transfer the funds directly to Canadian bank?

    Totally agree regarding olympics. Canadian government also spend a lot of money for these olympics. Economic gain will happen in BC but I don't see how it will help the Canadian economy as a whole.

    Yes, competition is limited in our banking sector. You basically have a choice of six large banks. I have no clue about banking fees in the USA or elsewhere in the world so I cannot comment on their fairness in relation to other places. I have never found them overly excessive, however. I also have no knowledge of the cost of RT w/ Canadian futures brokers so I cannot comment here either. Commissions on stock trades are generally higher than some other places though I believe.

    Biggest plus in my eyes is the fact of how easy I sleep at night. I know my money is safe in my bank. I know my bank will not go belly up. I know my dividend is safe in my BNS and RY investments :D
  6. I like COS.UN and CAD. CAD has been relentlessly strong, but by weary if it appreciates too much vs. USD. BOC will not let it get out of hand.
  7. 1) East Indian people tend to be perpetually bullish on India.
    2) The end of the Olympics should mark the end of a lot of optimism that has supported property values in Vancouver. It's the end of a trend, not the beginning nor middle. :cool:
  8. 1) Indeed. And there economy is growing. There is a reason why Canadians are bullish on Canada, why Indians are bullish on India, and why Chinese are bullish on China. Conversely, there is a reason why Americans are bearish on America and why English people are bearish on the UK. Make sense now?

    2) You might have an argument with this one. Except for the fact that property values are high throughout Canada and not contained in Vancouver. Vancouver is simply where it is most prevalent so it becomes the focal point for the media.
  9. When I called RBC, and BMO they want to charge me approx. 1.5, its been 6 months. What I should have done, in retrospect, is wait until oil on a seasonal play, since loonies is highly correlated to crude, and then did it. I do believe the loonie will pull back and I will have another shot.
    #10     Feb 17, 2010