Palonek's coverage of the Canadian loonie

http://www.reportonbusiness.ca/servlet/story/RTGAM.20071106.wboc1106/CommentStory/robNews/home#comment

Summary of comments:

"Car manufacturers are laying off employees , sawmills are simply shutting down and agriculture is a complete disaster. For years these sectors built and expanded based on a low ( VS U.S.) CDN. dollar. This happened under the watch of the BOC which did little to intervene."

"The BoC is out to lunch on this one. Inflation has been going down and with people being laid off in Ontario and Quebec, soon there won't be any inflation to talk about"

John earl from Canada, "those export dependant industries, should not have spread themselves too thin.. yes they borrowed at low interest rate and they hopefully invested that money properly in to their business... the canadian dollar is not going up as much relative to Euro or Yen... they can still export to other places.. everyone with half a brain knows that you can't be putting all your eggs in one basket, diversify, diversify, diversify.. when the interest rates where down, those same industries should have been negotiating contracts with other countries, investing in technology that would allow them to deliver their goods world wide instead of just across the border."

"I'm going to go out on a limb and say they're probably better qualified to make this call than anyone here. At any rate, economics is hardly a perfect science - it's impossible to say with 100% certainty what the correct course of action is"

Paloneks Coverage at http://www.edwardpalonek.ca/

Canadian Tories' survives the vote

From the Canada CBC site, Edward Palonek reports:
"The vote was considered a confidence motion that would have triggered an election had it been defeated.

Instead, it passed 127 to 76 in the House of Commons. The Liberals remained in their seats while both the Bloc Québécois and NDP voted against it.

If all three opposition parties had voted against the motion, the government would have fallen.

Liberal MP threatened with expulsion

Meanwhile, CBC News has learned that Ottawa-Vanier Liberal MP Mauril Bélanger wanted to stand up and vote against the economic statement.

But Bélanger was informed that he would be expelled from the Liberal caucus if he voted against the motion instead of abstaining, sources told CBC News.

Continue reading this article at http://www.cbc.ca/canada/story/2007/10/31/statement-vote.html

Edward Palonek http://www.palonek.ca

Updated: Wednesday, October 31, 2007 | 6:28 PM ET Link