Recession OVER!

[punked]

Bank of Canada says we got threw the storm!!!!! Hurrah for us.

The recession is over, the Bank of Canada said in its quarterly Monetary Policy Report released Thursday.

After shrinking since the last quarter of 2008, the Canadian economy will grow by an annualized rate of 1.3 per cent in the current quarter, the bank said.

http://www.cbc.ca/money/story/2009/07/23/b...y-recovery.html

[Molly]

Riiii-i-i-ght.

"However, unemployment will continue to rise, he said."

Edited July 23, 2009 by Molly

[ToadBrother]

Riiii-i-i-ght.

"However, unemployment will continue to rise, he said."

Well of course it will continue to rise. Economies are like big rigs, and jobs are like the trailers. The rig may turn the corner, but it takes time for the trailer to follow.

If anything will save the Tories' collective hides, it's this.

[kuzadd]

this is just speculation, it is an estimate, an assumption.

If this does not pan out, what will the next quarter bring?

Or of this quarter takes a little upturn and then the next one turns down is the recession over?

Unemployment continuing to rise may put a damper on the recession ending, because sales will stay down, on houses , cars etc.,

I am not celebrating yet, for the simple reason, there have been any number of these kinds of predictions over the last couple years and they have been wrong.

[madmax]

Bank of Canada says we got threw the storm!!!!! Hurrah for us.

http://www.cbc.ca/money/story/2009/07/23/b...y-recovery.html

Bank of Canada governor Mark Carney

Smoke another joint

[eyeball]

Has anyone actually tested the notion that dead cats bounce when dropped from a great height? I've seen live cats bounce but I can't see why the dead one's wouldn't mostly just go splat myself. I suppose if they were all bloated they might bounce a little.

[Jerry J. Fortin]

Has anyone actually tested the notion that dead cats bounce when dropped from a great height? I've seen live cats bounce but I can't see why the dead one's wouldn't mostly just go splat myself. I suppose if they were all bloated they might bounce a little.

Come on folks, trust the central bank! Look at it this way, how much market confidence can you get by saying it ain't over yet? This is a way for those economic whiz kids to say go on out and spend some money. What they don't say is, just because you don't have any money, or a job for that matter, we will still make some credit available to you. Oh, and by the way there will be a little inflation to go along with everything else, so the interest rates will go up a tadd.

[August1991]

Mr. Carney, through the Bank of Canada's latest policy statement, recommitted to keep the overnight target at 0.25 per cent until June, 2010, conditional on an unexpected burst of inflation.

G&M

I'll believe Carney when he plays poker with real money and raises the interest rate.

[madmax]

Come on folks, trust the central bank!

I am ready to adopt your changes to the central bank....

[Topaz]

Only in Ottawa. The province of Ontario and its manufacturing is still losing workers and some are fighting to put food on the table. I really think that Ottawa thinks if they tell Canadians that the recession is coming to an end that we'll just rush out and start spending and that isn't going to happen, at least , in Ontario. I'm not sure what other provinces are like now. All those workers on EI that are being trained for the "jobs of the future" what are they?? I heard a guy in Michigan who took a course for those jobs of the future and guess what, there aren't any jobs yet, cause its for the future!!!

[Jerry J. Fortin]

I am ready to adopt your changes to the central bank....

You are a brave person, I will give you a spot behind me at the wall where you line up to get shot.

[M.Dancer]

http://www.theglobeandmail.com/report-on-b...article1228108/

More indications that the recession is petering out.

[eyeball]

Generally, respondents said their current financial situation had deteriorated, with only 12 per cent saying they felt better off today than six months ago.

And more consumers than last month said their future finances showed no signs of improvement.

Opinions on employment prospects were also in the doldrums.

These are pretty weird indicators of happy times being here again, if you ask me.

Edited July 23, 2009 by eyeball

[ToadBrother]

http://www.theglobeandmail.com/report-on-b...article1228108/

More indications that the recession is petering out.

But I thought this was the biggest downturn since the Depression and we were all DOOMED!!!!!!

Why do I get the feeling the whole thing was somewhat manufactured so a way could be found to redirect tax dollars into the auto and investment sectors. Certainly neither Ottawa or Washington seemed terribly interested in helping anyone else out.

[madmax]

Lets see a quarter come in with growth. It hasn't happened. We've had 3 bad quarters and quite frankly, things were pretty shitty before those 3 bad quarters.

There is some priming and spinning going on to try to force out a good quarter, and send out a good message in order to achieve that.

However, my straw poll conducted over the past couple hours has people looking at me in disbelief for even asking the question.

Its hard to be optimistic when 20% of the retail and industrial operations have ceased to exist and aren't coming back in any form.

Only a dipshit in a business suit would say its getting better but theres no jobs to be had. He's got a job... LOL, I'd like to see them walk him out the door tell him but business is getting better.

When the jobs come, I can guarrantee you it will get better.

[Moonbox]

Are jobs leading or laggin indicators of the direction of an economy?

[madmax]

Why do I get the feeling the whole thing was somewhat manufactured so a way could be found to redirect tax dollars into the auto and investment sectors. Certainly neither Ottawa or Washington seemed terribly interested in helping anyone else out.

Banks and Large Corporations including Automotive got the handouts they were looking for and with few strings attached. This was about giving the corporations what they wanted and no jobs or employment for the average joe.

It is good for the companies, the corps get money to reinvest offshore and in Mexico, and the investment machines help along the way, also courtesy of our friendly corporate governments.

However.. to sell this scam... Harper and company are handing out doles of cash in CPC ridings they intend to hold. This handout to the Cities gives them municipal cover for all those elaborate projects like hockey rinks, roads, and other goodies.

Don't worry, the Bill for the Taxpayer is on its way. The MPs may be there for the Erasable cheque ceremonies but they aren't going to show the face when its time to pay the piper.

Also, part of those bailouts were the bailouts to corporations already making a large fortune in profits by giving them large tax cuts.

Clearly our government doesn't need the revenue because they steal from EI contributions.. oh wait... that moneys already spent and people need it.

Well, never mind... its time to go golfing while all the lazy people collect EI.

The Economies getting better.

[madmax]

Are jobs leading or laggin indicators of the direction of an economy?

I thought you could answer that... actually I was hoping you could answer that.

.... but I will suggest when unemployment goes down and the employment numbers aren't skewed by part time jobs, then the economy is stronger.

Good query.... any takers?

Are jobs leading or laggin indicators?

[Nat]

They think that if they say it enough it will be true.

[M.Dancer]

You heard it here first.

http://www.mapleleafweb.com/forums//index....st&p=416474

[msj]

I thought you could answer that... actually I was hoping you could answer that.

.... but I will suggest when unemployment goes down and the employment numbers aren't skewed by part time jobs, then the economy is stronger.

Good query.... any takers?

Are jobs leading or laggin indicators?

In the past lagging, now, perhaps not (at least in the US):

Faith-Based Economics

“Normally, labor markets lag the economy because incremental spending transactions are financed via debt, stimulated by interest rate cuts. But as long as credit remains frozen, spending will require income, and income comes from jobs. And debt service payments are made out of income. Therefore, in a deleveraging environment job growth becomes an important leading, causal indicator of demand and other economic conditions.

“… The bounce in the economy and the stabilization in markets reflect government actions that are big enough to impact near-term growth rates, but are not sufficiently directed at the root problem of excessive indebtedness to produce permanent healing. The deterioration in employment markets will continue because companies’ profit margins are so deeply damaged that a little bounce in growth won’t do much to alter their need to cut costs. This deterioration in labor markets will undermine demand and continue to pressure loan losses, which will keep the pressure on the banks and elevate the cost of capital for tentative borrowers, inhibiting credit expansion.”

It is usually a good idea to look at things like hours, part time jobs etc.

Hours typically fall at the beginning of a recession (as businesses try to hold onto staff but cut costs) and rise at the beginning of a recovery (as businesses increase hours to existing staff prior to hiring more staff).

As for the recession being over - Carney's record has been terrible so far and I don't see any point placing an value on anything he states until he can prove that he prefers substance over cheer leading.

IOW, Carney comes across as one of those types who thinks that if you say something long enough it may come true just because it was said long enough - the self-fulfilling prophecy theory.

I'll take an economic recovery on the back of rising hours/employment, incomes, and an increase in industrial capacity back toward the normal 78% to 80% marks, over the cheerful words of an economist any day.

Edited July 23, 2009 by msj

[Shady]

Recession OVER!

Looks like Harper navigated us through the storm. Three cheers for Stephen!

[Smallc]

Yeah, looks like Dalton McGuinty did navigate out of the recession. Credit for one must mean credit for both, right?

[whowhere]

Looks like Harper navigated us through the storm. Three cheers for Stephen!

Hooray, the Harper Conservatives can continue to erode the infrastructure of Canada and drive down living and working conditions. The Harper Formula, spend no money on infrastructure such as roads and rail service and dump immigrants onto the Canadian people who will work for less and fuel the exports of goods to the US.

Be prepared for the US border to become like Fort Knox. The US is not going to continue to play along with Canada's economic scheme of Bringing in Immigrants to keep wages low and export those products into the US market. To the US Canada is nothing more than a leach and parasite who is going to get the US back hand.

The US media and people are hot on Canada's economic model and will be ready to give Canada a Kick in the way of Border Frustration and other sanctions against Canada's exports. The US is going to recognize Canada has been riding its coat tails for way to long and going to be slotted in with North Korea and Iran as a country deserving of American Contempt and scorn.

Start pulling your weight you effing lazy leach mutherfackers. Steering Canada to the bottom is not success, Harper.

Wake up people, Harper is a loser and he has made Canada a Loser.

Harpers Track Record

Vale Inco - Closes Falconbridge throws 800 out of work

Stelco of Hamilton and Sault St Marie. - 2000 out of work

Nortel busted and sold to foreign nationals who will not invest in canada - 1000's out of work.

Saskachewan Wheat board outsources 150 It jobs to India.

These are only the Highlights as to the Conservative Track record. What you don't hear about is the 200 billion harper gave the banks for toxic mortgages.

40% of Canada's national debt!! Why the eff should banks get anything. Obviously this was likely printed money because it wasn't added to the national debt tally.

Harper is a clueless wonder.

[capricorn]

Harpers Track Record

Vale Inco - Closes Falconbridge throws 800 out of work

Stelco of Hamilton and Sault St Marie. - 2000 out of work

Nortel busted and sold to foreign nationals who will not invest in canada - 1000's out of work.

Saskachewan Wheat board outsources 150 It jobs to India.

These are only the Highlights as to the Conservative Track record. What you don't hear about is the 200 billion harper gave the banks for toxic mortgages.

If these are the highlights then you must have lost your written talking points and are relying on your memory. According to Liberals in the know, those layoffs and toxic mortgages are way down the list of Harper gaffes.