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For those who still think that the $CAD dollar is a "safe heaven", think again.
It seems that the government is on track to increase the country's debt currently at $490B by a stunning 35% or $170B in only six years.
Furthermore, the current expected deficit for this year, will come in at over 4% of GPD or $50B+.
(For more on Canada's GDP see here.)
Canada's confetti may be only a little better than other fiat systems, but cleary not as good as gold. In fact, more like fools' gold.
It seems that the government is on track to increase the country's debt currently at $490B by a stunning 35% or $170B in only six years.
Furthermore, the current expected deficit for this year, will come in at over 4% of GPD or $50B+.
(For more on Canada's GDP see here.)
Canada's confetti may be only a little better than other fiat systems, but cleary not as good as gold. In fact, more like fools' gold.
OTTAWA (Dow Jones)--The Canadian government's budget deficit could swell as high as C$172.4 billion over six years from fiscal 2008/09 through fiscal 2013/14, according to new forecasts by Toronto-Dominion Bank (TD) Tuesday.
Full Article here.
Full Article here.
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