Journalist Who Proposed Us-canada Merger Explains Why Her Plan Isn’t Crazy

The bullion jumped to a one-week as investors placed bets on the commodity that is seen as a safe haven during volatile times. The shutdown neared its second week and highlighted a political standoff over U.S. debt and budget levels. It did not appear that there was a resolution on the horizon, and U.S. lawmakers braced for an Oct. 17 deadline to increase the country’s borrowing power or risk default. While the Toronto market did better than the S&P 500, its gains were capped by declines in the energy sector. “Our market isn’t going anywhere in particular,” said Fred Ketchen, director of equity trading at ScotiaMcLeod. “And we won’t go anywhere as long as we’ve got this overhang in the United States.” “Eventually they’ll come to some agreement,” he added. “But there’s no way the market is going to take off until there is some resolution to this problem.” The Toronto Stock Exchange’s S&P/TSX composite index was up 37.62 points, or 0.30 percent, at 12,796.29. Eight of the 10 main sectors on the index were higher. Financials, the index’s most heavily weighted sector, climbed 0.2 percent. Royal Bank of Canada, the country’s biggest lender, rose 0.5 percent to C$66.60; Toronto Dominion Bank was up 0.5 percent at C$91.74. A 1.3 percent jump in gold producers helped boost the materials sector, which includes mining stocks.

analyst raised his rating on the smartphone maker to the equivalent of a hold amid a report the company was in new takeover discussions. The Standard & Poors/TSX Composite Index (SPTSX) climbed 29.60 points, or 0.2 percent, to 12,788.25 at 4 p.m. in Toronto. The index slipped 0.7 last week and has added 2.9 percent this year. Trading volume was 13 percent lower than the 30-day average. Its textbook, this is what should happen, gold should be going up so the market is responding rationally to this crisis, said Jeffrey Burchell, co-chief investment officer with Aston Hill Financial Inc. in Toronto. The firm manages about C$7 billion ($6.8 billion). Every time in the past when theyve had these crises you have a situation where the market has sold off in advance. This time it hasnt, the market is acting rationally because everyone knows at some point this is going to get solved. Default Threat President Barack Obama said he would be willing to negotiate with Republicans on fiscal terms if they raised the debt limit by next week and restored government funding. The U.S.

Canada Stocks Rise as Gold Producers Rally Amid U.S. Debt Debate

Dana Schuster of Foreign Policy describes it , “dystopian.” Here too, Francis is unrepentant, pointing to huge sovereign wealth funds, big investments in overseas resources, and Russia’s aggressive behavior in the Arctic as proof that she isn’t being alarmist. “It’s like a new cold war. The Cold War, 2.0, or the economic Cold War, 2.0.” Even so, does Canada need to be part of a world power? While the country may share many ties with the U.S., in many ways the country’s high living standards and history of social democracy may have more in common with European middle powers such as Norway or Denmark. Why shouldn’t Canada remain on that path, rather than join with the U.S.? Francis concedes that wouldn’t be a bad idea and says her last chapter is designed to deal with that. “It [says] OK, Canada, if there’s going to be no merger, here’s what you’ve got to do, and you’ve got to do it quickly. It’ll probably be more difficult politically than integrating faster with the Americans. They’ve gotta fix the border, they’ve got a constitutional problem, they’ve got a governance problem, they have an aboriginal problem, they’ve got an Arctic and military problem, a brain drain problem, a Dutch disease problem.” Ultimately, however, it all boils down to the same thing; “All of these things have to be looked at with solutions that involve working closer with the Americans,” Francis says. More than anything, she says, she hopes that the book will ignite debate. “I’ve talked to some of the people in the Canadian government, and I know the US government is reading this thing as we speak,” she says. “I think this will push along faster perimeter security talks, which have been going nowhere, nd it will push along faster the study of monetary union in Canada is that a good idea? It’ll bring more attention to our vulnerability in the Arctic and Canada’s complete abdication of any kind of development help there.” Even with the more unpleasant comments directed her way, Francis has faith that the Canadian national character will prevail.