It appears a Trade War or at least an extensive and costly legal battle is looming between the U.S. - Canada and other global nations regarding NAFTA and the international obligations contained in that agreement.
President Obama has chosen to include protectionist language in recent U.S. stimulus package legislation, which calls for a “Buy America only” policy as his country prepares to spend mega-dollars on massive infrastructure projects. Is the U.S. President really the boss, or did this legislation stem from the “big boys” on Wall Street? Maybe relief of hard hit steel and other producing companies could have started by enacting legislation to Cap Corporate and Executive Bonus Programs. Now that would have been an iniative worth discussing
The U.S. stimulus package bill, which was appended by Congress onto President Barack Obama’s US $819 Billion recovery plan, has sparked fears that Canada and other nations that export steel, valued at billions of dollars each year, could be shut out of the U.S. recovery plan.
Perhaps when U.S. President Obama comes to Canada for business meetings with Canadian Prime Minister Stephen Harper, he will be reminded that reciprocal actions like stemming the flow of oil-gas-and electrical power that Americans rely on could have devastating economic ramifications in his country. Certainly no one would benefit from this type of recourse, but sometimes you have to fight fire with fire. Results of this meeting will be interesting …
Precious Metal Prices: Energy Prices:
Gold $927.30 Oil $41.68
Silver $12.56 Nat Gas $4.40
Palladium $194.80
Platinum $994.50
•Mutual Fund News: Precious Metal Funds Gaining Ground…
…..Doug T
