nuckin_futz

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About nuckin_futz

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    Victoria
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    Travel, financial markets,... chicks, cars and the 3rd world war.

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  1. Bank of Canada hikes rates again, but warns of NAFTA fallout The Bank of Canada is raising its key interest rate for the third time in six months as the Canadian economy gathers steam, but it warned that its next moves may hinge on the fate of NAFTA. Governor Stephen Poloz and his central bank colleagues raised the benchmark rate by a quarter percentage-point to 1.25 per cent Wednesday. The move follows similar rate hikes in July and September. "Recent data have been strong, inflation is close to target and the economy is operating roughly at capacity," the bank said in statement accompanying its rate decision. The widely expected move is expected to cause banks and other financial institutions to raise rates on mortgage rates and other loans. While economic conditions look good now, the bank expressed growing concern about the future of the North American free trade agreement – the foundation of Canada's trade with the United States. The bank said speculation the U.S. may pull out of the deal is already holding back business investment in Canada and it poses a threat future exports. "Uncertainty about the future of NAFTA is weighing increasingly on the outlook," the bank said. The central bank's latest forecast, also released Wednesday, predicts economic growth will slow significantly to 2.2 per cent this year and 1.6 per cent in 2019, down from an estimated pace of 3 per cent in 2017. The projections are roughly in line with the bank's October forecast. The latest projections reflect the bank's "negative judgment on business investment and trade," according to the statement. Trade uncertainty is already affecting investment by U.S. and European companies, which the bank said have been making fewer new investments in Canada since mid-2016. The bank estimates that trade uncertainty will cut business investment over the next two years by two per cent. That translates into a 0.3 per cent per year drag on growth – a slightly larger hit than the bank estimated in October. "At this stage, it is difficult to predict the possible outcomes of trade negotiations and the timing, incidence and magnitude of their effects," the bank added in its Monetary Policy Report. The threat of greater protectionism remains the most significant risk to Canada's export-dependent economy, the bank said. The bank pointed out that roughly half of Canada's exports to the U.S. benefited from preferential NAFTA tariffs in 2016. The U.S. buys roughly three-quarters of what this country exports. The recent move by the U.S. to slash business taxes cuts both ways for Canada, creating a small net positive for the economy. Tax relief will boost U.S. growth, driving Canadian exports higher, but also cause some companies to shift investment south of the border to take advantage of those tax breaks, according to the Bank of Canada. Many economists expect the central bank to raise rates at least two more times this year. But the bank said it remains "cautious" about raising rates further. "While the economic outlook is expected to warrant higher interest rates over time, some continued monetary policy accommodation will likely be needed to keep the economy operating close to potential and inflation on target," according to the statement. The central bank judges that 3 per cent is the neutral level for its overnight rate – the point where interest rates are neither revving up growth nor applying the brakes. Beyond the NAFTA uncertainty, most economic pieces are falling into place for the Bank of Canada. Inflation has inched up to near the bank's two per cent target and should stay close to that level over the next two years, in spite of "temporary" fluctuations in energy prices in the months ahead, the bank said. Meanwhile, strong job gains are driving consumer spending and housing investment. The bank also highlighted "promising signs" in capital investment, company formation, and more workers joining the labour force. Canada's economy generated an impressive 420,000 jobs in 2017. At 5.7 per cent, unemployment hasn't been this low since 1976. Wages are starting to creep up after years of stagnation. And companies are busier than they've been since the last recession. The bank also pointed out that Canada's economy is getting a lift from higher oil prices, now at more than $60 (U.S.) per barrel for many grades. But those benefits are being "diluted" because of a widening spread between Canadian and world crude prices. Going forward, the engines of growth for the economy will be business investment and exports, rather than consumers and home construction, according to the bank. That's largely because of higher interest rates and new tighter mortgage rules put in place this month. https://www.theglobeandmail.com/report-on-business/bank-of-canada-hikes-rates-again-but-warns-of-nafta-fallout/article37632908/
  2. Cranberries singer Dolores O'Riordan dies suddenly aged 46 LONDON (AP) — Dolores O'Riordan, lead singer of Irish rock band The Cranberries, died suddenly on Monday. She was 46. O'Riordan died in London, where she was recording, publicist Lindsey Holmes said. "No further details are available at this time," Holmes said, adding that the singer's family was "devastated" by the news. Formed in Limerick, Ireland at the end of the 1980s, The Cranberries became international stars in the 90s with hits including "Zombie" and "Linger" that fused the alternative rock edge with Celtic-infused pop tunefulness. Irish President Michael D. Higgins said O'Riordan and the band "had an immense influence on rock and pop music in Ireland and internationally." "To all those who follow and support Irish music, Irish musicians and the performing arts, her death will be a big loss," he said in a statement. O'Riordan was The Cranberries' chief lyricist and co-songwriter, and her powerful, sometimes wailing, voice was key to the band's distinctive sound. The group's 1993 debut album "Everybody Else Is Doing It, So Why Can't We?" sold millions of copies and produced the hit single "Linger." The follow-up, "No Need to Argue," sold in even greater numbers and contained "Zombie," a howl against Northern Ireland's violent Troubles that topped singles charts in several countries. The band released three more studio albums before splitting up in 2003. O'Riordan released a solo album, "Are You Listening," in 2007, and another, "No Baggage," in 2009. The members of The Cranberries reunited that year, releasing the album "Roses" in 2012. The Cranberries released the acoustic album "Something Else" in 2017 and had been due to tour Europe and North America. The tour was cut short because O'Riordan was suffering from back problems. In 2014, O'Riordan was accused of assaulting three police officers and a flight attendant during a flight from New York to Ireland. She pleaded guilty and was fined 6,000 euros ($6,600). Medical records given to the court indicated she was mentally ill at the time of the altercation. After her court hearing O'Riordan urged other people suffering mental illness to seek help. O'Riordan is survived by her ex-husband, the former Duran Duran tour manager Don Burton, and their three children. https://www.yahoo.com/entertainment/cranberries-singer-dolores-oriordan-dead-46-171801922.html
  3. Trump softens on NAFTA The White House will never admit this publicly, but the president is developing a softer attitude towards the North American Free Trade Agreement (NAFTA). Five sources who've spoken privately with Trump about NAFTA say he's taking more seriously the risks of withdrawing the U.S. from the trade deal with Canada and Mexico. A conga-line of Republican senators have met with the president and explained to him why they consider NAFTA so important to their states. Two arguments have helped change Trump's thinking: Withdrawing from NAFTA might interrupt the stock market's record-breaking run under his presidency. When it comes to bragging rights, Trump views the Dow Jones Industrial average as a useful substitute for his poll numbers. Though he told the WSJ that he thought U.S. markets would go up if he terminated NAFTA, sources who've spoken with the president say that privately he’s less certain of that — and is loathe to jeopardize the stock market’s record-breaking streak. Withdrawing from NAFTA would harm farmers and agricultural communities — whom Trump considers "my people." Trump made two telling comments this week, which were buried under the deluge of porn star and "****hole" news: He told a group of farmers in Nashville — an audience adorned with “I support NAFTA” pins — “On NAFTA, I’m working very hard to get a better deal for our country and for our farmers and for our manufacturers...It’s not the easiest negotiation, but we’re going to make it fair for you people again.” That's a much gentler tone than Trump usually uses to discuss the deal. He told the WSJ this: “I would rather be able to negotiate [NAFTA]. We’ve made a lot of headway. We’re moving along nicely. Bob Lighthizer and others are working very hard, and we’ll see what happens.” Why this matters: The White House will never publicly admit Trump is shying away from terminating NAFTA because a key part of his and Lighthizer’s negotiating strategy is to convince Canada and Mexico that he's about to withdraw. Trump has even discussed issuing a six-month NAFTA withdrawal notice as a way to gain leverage. But from our vantage point — at least under this president — NAFTA has never looked safer. One cautionary note: With this president, nothing is ever off the table. And nobody close to Trump ever feels 100 percent secure when it comes to trade. https://www.axios.com/trump-softens-on-nafta-1515969352-841775cc-6a83-44a3-85b4-cb5beea01c2f.html
  4. Mexico will leave NAFTA talks if Trump triggers process to withdraw January 10, 2018 MEXICO CITY (Reuters) - Mexico will leave the NAFTA negotiating table if U.S. President Donald Trump decides to trigger a 6-month process to withdraw from the trade pact, three Mexican sources with knowledge of the talks told Reuters on Wednesday. Reuters reported earlier in the day that Canada was increasingly convinced that Trump would soon announce the United States intends to pull out of the North American Free Trade Agreement (NAFTA), sending the Canadian and Mexican currencies lower and hurting stocks across the continent. “I think it’s indisputable that if Trump announces a U.S. withdrawal from NAFTA, well at that moment the negotiations stop,” said Raul Urteaga, head of international trade for Mexico’s agriculture ministry. The two other sources, who are involved in the trade talks and asked not to be named, said that Mexico remains firm on its position to get up and leave from the negotiating table if Trump goes through with the move. While a NAFTA termination letter would start the six-month exit clock ticking, the United States would not be legally bound to quit NAFTA once it expires. Washington could use the move as the ultimate sleight of hand as it seeks to gain leverage over Canada and Mexico in talks to update the 24-year-old trade pact. Trump has long called the 1994 treaty a bad deal that hurts American workers. His negotiating team has set proposals that have alarmed their Canadian and Mexican counterparts. Among the most divisive are plans to establish rules of origin for NAFTA goods that would set minimum levels of U.S. content for autos, a sunset clause that would terminate the trade deal if it is not renegotiated every five years, and ending the so-called Chapter 19 dispute mechanism. Though observers in Canada and Mexico have become increasingly gloomy about the upcoming Jan. 23-28 Montreal round in recent weeks, some took heart from a recent speech made by Trump to farmers this week in which he held back from provocative comments about the trade deal. Urteaga, who was a member of Mexico’s original NAFTA negotiating team in the 1990s, said that Trump’s speech was an “interesting signal.” “No news, means good news sometimes.” https://www.reuters.com/article/us-trade-nafta-mexico/mexico-will-leave-nafta-talks-if-trump-triggers-process-to-withdraw-idUSKBN1F007G
  5. Was at the grocery store today. I swear you could hit a home run with a pitched mango. Dark green and hard as a rock. Who is dumb enough to buy this "fruit"?
  6. If I didn't know better I'd almost believe you'd actually vote Liberal. FYI, it's being discussed here. (2nd post)
  7. Canada launches wide ranging trade dispute against the United States US trade representative Lighthizer responds It was reported today, that Canada has launched a wide-ranging trade dispute against the US. In it they challenged the Washingtons use of anti-dumping and anti-subsidy duties. The dispute cited nearly 200 examples of US wrongdoing. Most of the examples involved countries other than Canada. Anti-dumping and countervailing duties - punitive tariffs to restrict imports that are unfairly priced or subsidized in order to beat the competition - are at the heart of Washington's trade strategy. They are used to defend U.S. interests. According to sources, the tariffs are allowed under WTO rules but they are subject to strict conditions. The US has been under fire for years about the way it calculates unfair pricing, or dumping. The calculations the US uses has been "ruled to be out of line" with the WTO rulebook. US trade representative Lighthizer has responded to the dispute by saying: Canada's request for WTO consultation is a "broad and ill-advised attack on the US trade remedies system" Canada's claims are unfounded and could only lower US confidence that Canada is committed to mutually beneficial trade The US and Canada are mired in NAFTA talks which are not going all that well. http://www.forexlive.com/news/!/canada-launches-wide-ranging-trade-dispute-against-the-united-states-20180110 ********************************************* Obviously if Canada is taking this action they're pretty confident NAFTA is finished.
  8. Canada increasingly convinced Donald Trump will soon pull the plug on NAFTA: sources Sources said they expected Trump would make his move at about the same time that negotiators meet in late January for the sixth and penultimate round of NAFTA talks LONDON, Ontario — Canada is increasingly convinced that U.S. President Donald Trump will soon announce that the United States intends to pull out of the North American Free Trade Agreement, two government sources said on Wednesday. The sources said they expected Trump would make his move at about the same time that negotiators from the United States, Canada and Mexico meet in late January for the sixth and penultimate round of talks to modernize the treaty. The Canadian and Mexican currencies both weakened against the U.S. dollar after the news. The Canadian dollar fell to its weakest level this year at $1.2561 to the greenback, or 79.61 U.S. cents. The peso was trading down more than 0.6 per cent at 1925 GMT, while the S&P/BM IPC stock index was down about 1.7 per cent. Trump has repeatedly threatened to walk away from NAFTA unless Canada and Mexico agree to major changes Washington says are needed to make the 1994 treaty more fair. Canadian officials say if Trump does announce a U.S. withdrawal, it could be a negotiating tactic designed to win concessions. They also express doubt whether the U.S. Congress would approve such a move. Canada and Mexico have rejected most of the U.S. proposals for NAFTA reforms, leaving officials with a big job if they are to bridge the large differences at the Jan. 23-28 talks in Montreal. Negotiations are due to wrap up at the end of March. http://business.financialpost.com/news/economy/canada-convinced-donald-trump-will-soon-pull-the-plug-on-nafta-sources ****************************** Probably shouldn't be a surprise. Negotiations have been going nowhere. Especially since at the beginning Trump insisted the dispute resolution mechanism (Chapter 19) be scrapped. "In simple terms, the (Chapter 19) process allows for an appeal to be heard by a third party made up of trade experts from both disputing countries, instead of leaving it to U.S. or Canadian courts presiding over a trade dispute involving native products and vice versa. " https://globalnews.ca/news/3608784/nafta-chapter-19-dispute/ Trump and his team have insisted disputes be settled by US courts. Looking more and more like there will be 2 separate trade agreements for Canada. One with USA and one with Mexico. This is a nightmare for Mexico.
  9. (Rumour) Canucks listening to offers for Hutton

    If that's the case I hope they do. As much as I love Burrows. Ottawa got royally ripped off in that trade. And Goldobin for Hansen ain't too bad either.
  10. Thank you for the confirmation.
  11. [proposal] Vanek trade

    It amazes me what people think Vanek is worth. Think about it, every GM in the league knows exactly who he is and what he provides and he had to wait until September 1st to get signed. Then it was only a 1 year deal with a team that clearly wasn't going to contend that does an insane amount of travel. Yet he's worth a 1st round pick as a rental? How does that make any sense?
  12. Idea for increasing Boeser's speed

    Then they'd attract a lot more attention. Their game was to be allusive, get open and then take advantage of their quick release when defenders and goalies weren't set. That's Brock's game to a tee. Be happy we have a Brett Hull in the making and don't mess him up trying to make him into Pavel Bure. Don't fix what ain't broke.
  13. Idea for increasing Boeser's speed

    Mike Bossy and Brett Hull weren't exactly fleet of foot either. I hear they were pretty good.
  14. Steve Bannon grovels to the President. Says he's sorry to him and Don Jr Talk of removing Steve Bannon from Breitbart along with the threat of lawsuits have made him have a change of heart regarding the President and his family a few days after calling Don Jr 'treasonous'. "Donald Trump, Jr.is both a patriot and a good man. He has been relentless in his advocacy for his father and the agenda that has helped turn our country around." "My support is also unwavering for the president and his agenda - as I have shown daily in my national radio broadcasts, on the pages of Breitbart News and in speeches and appearances from Tokyo and Hong Kong to Arizona and Alabama." He even apologized for waiting so long to apologize. "I regretthat my delay in responding to the inaccurate reporting regarding Don Jr has diverted attention from the president's historical accomplishments in the first year of his presidency." Axios has more. http://www.forexlive.com/news/!/steve-bannon-grovels-to-the-president-says-hes-sorry-to-him-and-don-jr-20180107 ****************************** Donny Dotard sure picks the best people.
  15. Your 2011 memories

    Being in the "Fours" bar in Boston prior to game 3. The place had been taken over by Canuck fans and we were all singing Oh Canada in there at the top of our lungs, It was surreal. Then it all fell apart as you all know.