Blue Like You

Archive for November 7th, 2007

Dear, funny Dalton.

He wants the federal government to lower interest rates. (Can the federal government do that anyway?)

Dalton, please read National Newswatch. The article just below yours is the one to pay attention to - Central Bank won’t clip dollar’s wings - Quote by Bank of Canada senior deputy governor Paul Jenkins:

“We judge that the risks to the bank’s inflation projection are roughly balanced, with perhaps a slight tilt to the downside,” he said. “And we also said that we judge, at this time, that the current level of the target for the overnight rate is consistent with achieving the inflation target over the medium term.”

Several economists and currency traders said Tuesday that the central bank is in a difficult position, and that even if it were to cut interest rates by a quarter percentage point, the effect on the Canadian dollar would likely be minimal. One of the chief difficulties is trying to determine how much of its appreciation is due to strong demand for domestic products, and how much can be laid at the feet of the enfeebled U.S. dollar.

But hey. Blaming the feds is Dalton’s preferred modus operandi.

As everyone knows, the real culprit is global warming.