.....well, sort of, and according to Mish. I don't rubbish what he says in his latest blog but he forgets one thing and that is, that Canada and the rest of the commodity producers have what the rest of the world wants and that is the key to their future prosperity. If the world ever recovers from its economic malaise then demand for commodities will once again rise and countries who have debased their currencies will have to pay the price. There will be a future cost to QE3.RegardsHarmy
There will be a future cost to QE3.Take your choice:"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess from the public treasury. From that time on the majority always votes for the candidates promising the most benefits from the public treasury, with the results that a democracy will collapse over loose fiscal policy." (Attributed to several people, but you can blame me if it makes you feel better.)or “Want of foresight, unwillingness to act when action would be simple and effective, lack of clear thinking, confusions of counsel, until the emergency comes, until self-preservation strikes its jarring gong – these are the features that constitute the endless repetition of history.”-- Winston Churchill
I vacation in the South, on a lake nestled among miles upon miles of timber land , mostly pine. I noticed that the pine timber being used on a house under construction came from Canada, probably a thousand or more miles away. Since I know Canada is not a low labor cost place, and that pine grows faster where it's warmer,(perhaps resulting in more wood but of a lower quality) and that transportation isn't free I'm unable to understand why it's imported. Unless Canadian taxpayers are giving their producers a subsidy. Or American authorities don't care about jobs.http://m.theglobeandmail.com/report-on-business/rob-commenta... this source is a Canadian newspaper so it may have a Pro Canada biasIf we can't even compete with something like a common type of wood we have problems.
Since I know Canada is not a low labor cost place, and that pine grows faster where it's warmer,(perhaps resulting in more wood but of a lower quality) and that transportation isn't free I'm unable to understand why it's imported. Unless Canadian taxpayers are giving their producers a subsidy. mauserActually it is none of the above. Canada has vast forests on government owned land while most (?) US lumber comes from private land. In order to harvest trees on government land a company must pay a stumpage fee as well as paying a tree planting company to plant two trees for every one they harvest (this may be out of date as I used to spend a week every year planting trees for our local pulp mill). I would not understate the quality issue either as throwing out lumber because it doesn't meet the standard adds up quickly (or so I've been told). Finally I don't think there is a significant difference between wages for lumberjacks and mill workers in our two countries but clearly I could be out of date on this as well. http://www.ehow.com/info_8508402_salary-lumberjack.htmlThe 6,260 lumberjacks employed in the U.S. earned a mean annual wage of $38,660 as of May 2010, according to the bureau's Occupational Employment Statistics survey. The mean hourly wage was $18.59. http://www.treecanada.ca/site/?page=publication_download_can...Canada's ForestsHome to 10% of the world's forests, covering nearly ½ of the Canadian landscape (the 2nd largest country in the world) and home to 2/3 of Canada 's wildlife, ......Who Takes Care of Canada 's Forests?94% of Canada 's forests are publicly owned. The other 6% is privately owned by more than 425,000 private landowners. Of that public forest, the federal government owns 23% and the provincial government owns 71%. http://www.epa.gov/agriculture/forestry.htmlTimberlands Two-thirds of U.S. forest lands, or almost 490 million acres, are classified as timberlands. Timberlands are defined as forest lands used for the production of commercial wood products. Commercial timberland can be used for repeated growing and harvesting of trees. Seventy percent of U.S. timberland is located in the East. Of the 490 million acres of timberland, Federal, State, and local governments own 131 million acres (27 percent) and non-industrial private entities own 288 million acres (59 percent). Private timberlands are mostly on small tracts of forest land. Only 600,000 landowners have holdings larger than 100 acres. The forest products industry owns about 70 million acres (14 percent) of commercial timberland. One-third of the nation’s annual timber harvest is from these forests.
They are not the same type of pine.http://www.ehow.com/info_8068862_differences-white-yellow-pi...
This is part of the logic behind my bizarre behaviour of holding specific foreign currency accounts.Jeff
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