ON THE WORLD SCENE - Gene H Hogberg - September 25, 1978

Gene H Hogberg

There seems to be no end in sight to the plunging value of both the American and Canadian currencies. Regarding the latter, the Canadian dollar has dipped below 85 U.S. cents for the first time since the 1930s Great Depression. An 80-cent dollar appears around the corner. Sluggish economic growth, an inflation rate in excess of 9 percent and the continued uncertainty over Quebec's break-away threat are prime factors. Prime Minister Trudeau hopes to spur an improvement in the economy before national elections next spring. If he can't pull it off, his political future is seriously in doubt. - Information Supplied By: Herbert W Armstrong Library