Next time you hear someone bleat about how poorly the Canadian economy does because of taxes, health care or whatever they dimly perceive as the reasons for their own personal failure, trot out this fact:
Turns out you can complain about the price of gas or the rising Canadian dollar, but not both. If it weren't for the stronger loonie, Canadians would be paying more at the pumps – nearly 50 per cent more, according to a report from the Bank of Nova Scotia. "[The] appreciation of the Canadian dollar [is] partly cushioning the impact of near-record crude oil prices in U.S. dollars," said Scotiabank economist Carlos Gomes. "If it wasn't for the currency, gas prices would be a lot higher in Canada."Low inflation, low interest, high employement, high dollar, reasonable taxes, strong exports, combined capitalism and social welfare. Sad isn't it.

Comments
Alan - June 9, 2006 8:17 AM
Please note this as well - 6.1% on . Russon notes a related question.