How bad is the economy going to hit the fan

Sounds like a lot of hot air. Concrete plans and recession evaluation don't go together just for his information.

 

election gimmick

If you can't campaign on good stewardship of the existing economy parade out some loud noises

 

oh and

http://www.cbc.ca/news2/interactives/canada-deficit/

 

Meh, the conservatives did a lot better than some other governments during the recession but have made some poor decisions directing the economy as well. I think, personally, that it'd be a mistake for the current opposition to attack Harper directly on the economic front. There's too much good and bad in that brew to campaign on that. This election, I hope, will be about the future of our economy and how the Feds intend to steer the ship in that direction.

Did you see this:

http://www.cbc.ca/news/politics/gen...-sells-remaining-stake-in-automaker-1.3022822

Maybe the government needs to play in the stock market to post budgets in the black . Just kidding of course!

 

You do realize that a lot of the reason Canada fared better than other G8 nations during the global slowdown was banking rules and financial measures introduced when the Liberals were in power and Paul Martin was Finance Minister right ? Even Jim Flaherty acknowledged that , although I agree somewhat on the perception that the Conservatives are good managers of the economy versus the other parties , I think the dependence on oil revenues and what that has done to our existing economic outlook does play in to the opposition's favour .

 

Absolutely on the part in bold. The banking laws the Liberals put in paid off in spades. Then again the conservatives tended those laws and moderated the oppositions desire to spend 2-3 times what the conservatives did on stimulus spending. Seems that was the right decision given the current situation.

As for diversification it's great to talk about. However until Kid Trudeau can give me a well laid and drawn out plan on how he will turn Canada from a resource based economy to a processed good economy, which no one else has managed to do in 100 years, I'm not sure any of the parties can ease our dependence on oil revenues.

All I know is the NDP isn't the answer . I'd prefer to keep my tax rate under 60% and farming is hard enough under the current environmental regulations.

Anyways, at the end of the day no matter who wins the next election I'd rather be Canada rather than anywhere in Europe right now. The stuff going on between the Greeks and Germans is getting insane.

 

Whoever wins it will be a minority and I think that will be good for the country

 

and when you say austerity spending I think you mean stimulus spending

 

Yes lol. Jeez I've been reading to much on Greece lately.

 

Interesting thread.

I think the economy is headed for a serious downturn. Probably more severe than the crash of 08/09. I've heard rumblings that economic hardships will be similar to 1929.

 

http://www.cbc.ca/news/business/why-stephen-poloz-can-t-fix-a-weak-economy-don-pittis-1.3027997

 

"But fear of creating a worse crisis prevents governments from intervening. That is, until the machine actually breaks. Only then will our elected representatives and the officials they appoint be permitted to try more radical experiments to fix it."

Seems like a pretty biased statement to me. This opinion piece smells of another CBC advocate for increased government spending to Band Aid an economy. Ask the Eurozone how increasing government spending works out in mixed economies. Not well. It's a delicate balance.

I would of liked to hear the author give some actual suggestions of which radical experiment he thinks could fix the economy... massive public and private defaults anyone?

 

Oh right , of course

 

issue more Canadough!!

 

http://www.cbc.ca/news/politics/tom...s-poor-politics-but-sound-economics-1.3028343

 

^

I assume he's referring to the Tulip Mania that basically started the whole process of speculation? In that case, he's right, but if you removed stocks, commodities, and bonds from our world I don't know if anyone knows of how to make the economy function or regulate...

 

Let me read that for you ;


"In economics, the Dutch disease is the apparent relationship between the increase in the economic development of natural resources and a decline in the manufacturing sector (or agriculture). The mechanism is that an increase in revenues from natural resources (or inflows of foreign aid) will make a given nation's currency stronger compared to that of other nations (manifest in an exchange rate), resulting in the nation's other exports becoming more expensive for other countries to buy, and imports becoming cheaper, making the manufacturing sector less competitive. While it most often refers to natural resource discovery, it can also refer to "any development that results in a large inflow of foreign currency, including a sharp surge in natural resource prices, foreign assistance, and foreign direct investment".[1]"

http://en.m.wikipedia.org/wiki/Dutch_disease

 

Interesting. I'm clearly not an economist.

Most of my customers (farms) are first generation Canadians from Holland lol. Coincidence...

 

Reading the article I posted prior to commenting on it would have garnered this info too ;

" The closures and restructuring were made necessary because of declining demand from international clients, whose currency isn't going as far as it used to compared with the Canadian dollar.

The loonie was being driven largely by the power of strong oil prices.

"It's by definition Dutch disease," opined Tom Mulcair in an interview with the CBC in May 2012.

The term was coined in 1977 to describe the downside of the discovery of natural gas fields off the coast of the Netherlands.

The ensuing economic boom boosted the country's currency, which was harmful to its other exports and — in the end — the overall economy after commodity prices slumped."

 

. Sorry I was to busy laughing at Tom sticking his foot in his mouth again. Give me a break, I'm reading in between feedings of my 3 day old daughter.