Spring in predictable for certain things: Easter, the budding of tulips, and turning the clocks ahead one hour. But for economists in Canada, the end of April heralds in another predictable and highly anticipated event: the reporting of provincial GDP. Unlike the monthly and quarterly reports for the national economies, the tallying of all goods and services produced at the provincial level is done only annually.
In the competitive race among the provinces, where in the standings did Alberta place?
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Most of us are familiar with a little blue and yellow can of spray in our garages or under the kitchen sink called WD-40. That is the trademarked name of a lubricating spray developed in 1953 by a Californian named Norm Larsen. It was originally designed to repel water and prevent corrosion, and later was found to have a variety of practical household uses. WD-40 stands for “Water Displacement - 40th Attempt.”
Fortieth attempt? Can’t you just hear Mr. Larsen’s wife, yelling down into his workshop, “Norm, forget it! You’ve tried over 30 formulas—it’s not gonna work!”
The spike in inflation from today’s Statistics Canada CPI report reflects rising prices—particularly for food, energy and transportation. The national consumer price index accelerated to 3.3% in March (year-over-year), after a 2.2% annual increase in February. It was the highest since September, 2008, and was well above economists' expectations. But one particular measurement of inflation has sent the Canadian dollar soaring this morning as it raises the probability that the Bank of Canada will raise rates soon—possibly July.
With the Canadian dollar on a tear this week, popping above $US1.04 to buy one loonie, it’s not surprising that many canucks feel the urge to look at investing in some US assets. This is particularly true during the winter of 2010-11 which has seemed endless in Alberta. The idea of a home in Arizona, Nevada or anywhere sunny and warm is appealing. Golfing in January aside, there are several things to keep in mind about buying real estate south of the border.