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nears the Prime Minister has put all his eggs in the resource extraction basket for nine years the Prime Minister has fed into a cycle of boom and bust he's left our economy at the mercy of falling oil prices now the bill is coming due that's NDP leader Thomas Mulcair blaming Prime Minister Stephen Harper for relying too much on the oil sands he says it makes candidate Connor be vulnerable to falling oil prices while syncing prices that's been helping drivers but now the loony is being hit hard today the canadian dollar sunk to a six-year low hitting 78.6 one sense us executive price vice president of CHF capital markets mark lackey joins me now from toronto mark uh I want to get into the job cuts and all of that in a minute where the looniest let me start with this uh Justin Trudeau's been saying it Thomas Mulcair has been saying it well the economy's in the tank because Stephen Harper put everything into the oil sector yeah is that accurate I mean as far as I remember Stephen Harper doesn't control the Canadian economy for good or bad no you're absolutely right and I let you know if we go back in time it reminds me of the old arguments that I can remember when ninety percent of our trade used to be the United States it's now about seventy percent of our exports and people said well we relied too much on the United States but for a whole lot of years and and most of the time that wasn't such a bad the situation the rest of the world was envious that we had this advantage of trading with the United States so you know at the end of the day it's not just oil it's all kinds of factors and I would point out one thing to all the critics of the president government that the fiscal position in Canada is better than any other country of the g7 to g8 so I think that's what people should be looking at as opposed to the fact that as you point out we don't put all our eggs in the basket it's not just the oil businesses drives economy Monte's albert was on the other day said oil is six point five percent of the canadian economy add in mining it gets up to 8.5 manufacturing is still 11 and leasing and finance and so on it's it's thirteen percent so that's exactly right misnomer completely but the canadian economy is hitting some problems we can look at the major job losses a target 17,600 employees laid off a tim hortons we believe it to be 350 and CIBC 500 in the past two weeks is that a sign that we need to be worried or is this just part of the natural cycle it's what's going on you know I'd be far more worried if every one of these is kind...