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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (55216)	9/21/2009 12:59:31 AM
From: Taikun	3 Recommendations Read Replies (5) \| Respond to of 217975

TJ We have less and less resources left in Canada. Li Ka Ching bought Husky and its Canadian offshore oil+oil sands (in addition to a big hunk of downtown Vancouver). Teck sold a $1.75bn chunk of itself to Chinese Investment Corp, Total and the Americans own a ton of oil sands, Rio and BHP own iron ore, BHP has diamonds, and now BHP is into our Potash. Newer Canadian iron ore deals are owned by Tata, Worldlink, Wisco (Wuhan). Brazilian Vale bought Inco, Xstrata bought Falconbridge, Jilin Jien is buying junior nickel plays in Quebec, JDC (Jinduicheng Moly) bought Yukon zinc and you get the message. (I missed many deals I know) The cost of capital in Canada is too great due to our social programs, so we have to sell our resources instead of owning and value adding them. Canadian faith is overrated and C$ gold is cheap here. Our PM didn't event go to the Beijing Olympics...we're tied at the hip to the US. The Province of BC has a projected $52.8bn deficit in 4 years. BC has 4 million population. Times 83 gets you the US population. In US$ thats about an equivalent deficit of $5trl. Then there's the Canadian debt, $630bn in 4 years. Times 10 to get the US equivalent, so $6 trillion or so. I still think the whitewash 'sell USD' story is too simplistic. Loonie is pretty expensive here... Cheers -D