|
Edited on Wed Nov-03-04 07:14 PM by democracy eh
Drilling in ANWR goes ahead
Canada is caught in a tug of war between the US and China over control of our natural resources. The US government and the US people will only realize it after they have lost the first two rounds.
Fresh water export is on the table (Red States = Dry States)
the US administration gets behind the Alaska Natural gas pipeline, seemingly dooming the Mackenzie Gas Pipeline, when stocks are down, China will move in to back the building of the MV pipeline to power their recent acquisitions in the tar sands. and the MV pipe is built with Chinese steel, not North American
Bush messing up the US economy, reckless spending and debt will: a) continue to tank the greenback, therefore the Canadian $$ will continue to rise, bad for exports b) cause interest rates to rise, with the present low interest rates and the hot real estate market, people have purchased houses at the very edge of what they could afford, they can not afford to have their mortgage payments increase therefore will cause a sell off, a decline in house prices, instilling a sense of panic in the market as houses are worth less than the mortgages
c) no one will panic more than the Boomers who are about to start retiring and have far, far too much equity tied up in equity in their house, when prices start to drop, they will panic about losing their retirement, causing the market to drop further, causing more boomers to sell, leaving man, many oversized pink elephants in the suburbs on the market.
OK maybe these things would happen under Kerry too, perhaps not at all
I am just feeling gloomy today and listening to a lot of REM's Automatic for the people and Leonard Cohen, drinking the last of my Big Rock beer I picked up while in Calgary last month.
Cheers
|