Tuesday, February 26, 2013

Mark Carney Explains Canada's Finances

As we all know the Canadian economy has not been performing as well as had been anticipated by the tea leaf readers in the higher halls of finance had predicted. Simply put, while our economy is not in the tank it is not doing all we had hoped for.

In language only a central banker would consider clear, Mr. Carney explained our current situation thusly:

"In the very near term, more of the elements of the downside risk have materialized than the upside risks, we've dampened our forecast of exports because we're seeing a competitiveness challenge - a productivity issue. Even with that, the export performance has been lower on average than we have expected."

Well I'm glad Mr. Carney cleared that up. He never did say if anything substantial has happened in the world of high finance since the big boys in the big banks proved they could in fact hold the entire world to ransom, and there is nothing even governments can do about it.


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