Canada’s Finance Minister makes a great point

Canadian Finance Minister Joe Oliver is on the wires and saying that the focus of the G20 meeting will be to kick start growth.

“America is carrying the world economy at the moment; that is simply not sustainable.”

This is something I have been repeating lately. It’s the list of countries/regions by GDP:

1. USA – Fed tightening
2. Eurozone – massive quantitative easing in January
3. China – Cut RRR in February
4. Japan - easing forever
5. UK – Neutral but has abandoned hawkish talk
6. Brazil – stagflation after 25% BRL drop
7. Russia – easing, massive recession
8. India – eased in January
9. Canada – cut rates in January
10. Australia – cut rates in February