The Loonie Hour Chaos in Ottawa! Budget Deficit Explodes to $62B
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Dec 20, 2024 Political turmoil brews as Canada’s finance minister resigns, throwing the government into chaos. Meanwhile, budget deficits soar to $62 billion, raising eyebrows about fiscal management. The value of the Loonie drops to 69 cents against the US dollar as inflation predictions stretch to 2027. Global coal usage skyrockets due to Chinese demand, reflecting economic disparities. Amidst financial woes, festive banter lightens the mood, blending holiday cheer with urgent economic discussions.
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Episode Overview
- This podcast episode covers various economic and political events, including Freeland's resignation and a budget deficit.
- The Loonie's drop, US Fed rate cuts, and global market volatility are discussed.
Freeland's Resignation
- Freeland's resignation seems to be related to the fall economic update and the deficit.
- She may have timed her resignation for maximum political damage to Trudeau.