Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (41992)	11/23/2003 10:28:21 PM
From: Seeker of Truth	Read Replies (2) of 74559

Hi Jay, I will get hold of that book as fast as possible. What I don't know about is the implicit part. The explicit part shows that the indebtedness of the Canadian government has about the same ratio to the GNP that the US public debt has. But the ratio is rapidly increasing for the US and actually decreasing for Canada. Moreover Canada has a favorable balance of trade. Yet another moreover, Canada has higher interest rates than the US. ALso Canada's population is a little younger than that of the U.S. Also Canadians pay more taxes than Americans, and are used to doing so. I wonder if Heller included that? All of these are short term but rather powerful. The implicit part is certainly frightening. I will certainly track it down and report back. Unfortunately I have to go to Tokyo on Tuesday. If I get hold of the book I'll try to post in the next few days. Chugs, Malcolm

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