Recession is Over!

[Mr.Canada]

Last year I posted about how PM Harper stated that the recession would be showing signs of ending in Canada by the end of 2009. Almost every Liberal poster said "No Chance".

Sorry to break it to you liberals but the recession is indeed over. Unless you know something that the Bank of Canada doesn't. In which case I hope you make more money then the governor does.

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

GDp is on the move in the right direction. GDP up 0.1% as predicted by our brave and wonderful PM Stephen Harper.

Canada's gross domestic product grew in June by 0.1 per cent compared to May, the first positive monthly showing since July 2008, according to figures released Monday.

Source

[punked]

Last year I posted about how PM Harper stated that the recession would be showing signs of ending in Canada by the end of 2009. Almost every Liberal poster said "No Chance".

Sorry to break it to you liberals but the recession is indeed over. Unless you know something that the Bank of Canada doesn't. In which case I hope you make more money then the governor does.

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

GDp is on the move in the right direction. GDP up 0.1% as predicted by our brave and wonderful PM Stephen Harper.

Source

I called this is June I suggest you look that thread up and post there.

[Mr.Canada]

I called this is June I suggest you look that thread up and post there.

I called it last year and you said no it won't happen.

[Sabre Rider]

Does that mean I will be getting my 10% pay cut back anytime soon and will Carter GM change their mind about closing their Coquitlam dealership and rehire those 250 people they laid off last week? Does also mean that US buyers will start ordering Canadian goods again so the truck I need to pick up my loads of steel down south can actually get down there?

Call me pessimistic, but one a measly .1% growth in a one month does not spell the end of a recession or depression for me. When I see four solid quarters with an average growth of .75% per quarter or 12 months growth averaging .23%, then maybe I will start to think the worse is over.....till then, I am not putting my down payment on that lovely '09 Triumph Sprint ST I have my eye on.

As for the "brave and wonderful" Steven Harper, he can kiss my hairy Royal Canadian backside, I wouldn't piss on the man even if he was on fire.

Edited September 1, 2009 by Sabre Rider

[daniel]

Last year I posted about how PM Harper stated that the recession would be showing signs of ending in Canada by the end of 2009. Almost every Liberal poster said "No Chance"....

Let's understand this correctly. In August 2008, before the recession started, the PM predicted it would end before the end of 2009. And then in October during the election, Harper kept going on about how Canada is not in a recession. And then in November/December he said everything was fine. And then after the prorogation, he said we have to respond to the recession with a stimulus package. And then every month after that he kept saying we're recovering.

Keep repeating "recovery" and eventually you'll be right.

Does that mean you'll stay? There's still a lot of immigrants here.

[Mr.Canada]

Let's understand this correctly. In August 2008, before the recession started, the PM predicted it would end before the end of 2009. And then in October during the election, Harper kept going on about how Canada is not in a recession. And then in November/December he said everything was fine. And then after the prorogation, he said we have to respond to the recession with a stimulus package. And then every month after that he kept saying we're recovering.

Keep repeating "recovery" and eventually you'll be right.

Does that mean you'll stay? There's still a lot of immigrants here.

Oh, I'll be in Canada for another 20 years or so. My business is here.

[Shady]

Let's understand this correctly. In August 2008, before the recession started, the PM predicted it would end before the end of 2009. And then in October during the election, Harper kept going on about how Canada is not in a recession.

Nonsense. He didn't "keep going on." Canada may have not been technically in a recession, but he stated several times that the economy was slowing, but that we weren't in as bad of shape as the American economy.

And then in November/December he said everything was fine.

More nonsense. He didn't say that everything was fine.

But I must say, you did a fine job knocking down everyone of your strawman arguments. Good job!

[Sabre Rider]

Oh, I'll be in Canada for another 20 years or so. My business is here.

Is there really that great a demand for Jack Boots and White Sheets in Canada? Who knew?

[Sabre Rider]

Nonsense. He didn't "keep going on." Canada may have not been technically in a recession, but he stated several times that the economy was slowing, but that we weren't in as bad of shape as the American economy.

More nonsense. He didn't say that everything was fine.

But I must say, you did a fine job knocking down everyone of your strawman arguments. Good job!

Actually, he did during the last election...up to that point it looked like him just might get that long sought after majority he has been wanking himself over.....but he had to go and open his pie hole and say everything was bright and rosy with the Canadian economy.....and most pundits agree, it cost him his coronation.

[Mr.Canada]

Actually, he did during the last election...up to that point it looked like him just might get that long sought after majority he has been wanking himself over.....but he had to go and open his pie hole and say everything was bright and rosy with the Canadian economy.....and most pundits agree, it cost him his coronation.

When PM Harper wants a majority he wanking himself but when Ignatieff wants one it's his Harvard given right.

I think I finally understand now.

[madmax]

Last year I posted about how PM Harper stated that the recession would be showing signs of ending in Canada by the end of 2009. Almost every Liberal poster said "No Chance".

You must have been out of the country....Holidaying with Ignatieff perhaps.

That article from July essentially proved that the Bank of Canada is on Crack.

Less then 3 weeks after 3 consecutive quarters of economic loss and MASSIVE job loss, no one took this report seriously and the BOC turned tail and ran for the hills.

The recession is not over, until a quarter of growth is recorded and then it has to be followed up with a 2nd quarter of growth.

Summer is always flat, thus neither losses nor gains are substantial.

Job losses continue and while slowing are still occurring at an unprecedented rate surpassing the temporary job losses of the 80s, that had well recovered within the same time frame.

Shortly before Harper took over, the job losses were significant, but masked over by low tech part time jobs.

There isn't a strong local economy and economic numbers that come in, in the future will mean more to bean counters and finance people then anyone who is looking for long term employment and a decent wage.

[madmax]

More nonsense. He didn't say that everything was fine.

Harper created the illusion that things were far better then they were. Which is expected when lying in the middle of an election campaign. Of course things were going to hell in a handbasket and they wanted control before it all started to unravel and those surplusses gone deficit hit the public eye.

The irony later to be that Flahertys budget in November 2008, didn't address any economic concerns but were a hodgepodge of Conservative ideology for taking out the opposition Liberal party.

However, as the election was underway, and data kept rolling in it was clear to all that the country was in deep economic trouble and Harper choose to portray the image of ... Don't change the government... let us keep a firm grip on the till.

Of course it was Harper that put that till up for grabs.

[Jerry J. Fortin]

A jobless recovery is not what the citizens want or desire. It is not what the citizens will call a recovery at all. This issue can be manipulated into the limelight by the first party with the brains to do so. This issue is the one the government of Harper cannot defend against.

[daniel]

Oh, I'll be in Canada for another 20 years or so. ...

So, you choose to be here. What's with all the whining then?

[Smallc]

The recession is not over, until a quarter of growth is recorded and then it has to be followed up with a 2nd quarter of growth.

I can't see evidence for that anywhere. For recession to be maintained, every consecutive quarter seems to have to be down. I'm far more inclined to trust the Bank of Canada opinion, which many took seriously. There is evidence that the recession is ending in many countries around the world.

[madmax]

A jobless recovery is not what the citizens want or desire. It is not what the citizens will call a recovery at all. This issue can be manipulated into the limelight by the first party with the brains to do so. This issue is the one the government of Harper cannot defend against.

Don't hold your breath.

[Shady]

Harper created the illusion that things were far better then they were

Far better than they were in America. That's a fact. Our financial system wasn't near collapse. Our housing market wasn't near collapse. And in terms of the recession, it's been the shortest recession in the last several decades. So take your "end of the world" fear somewhere else.

[Malaclypse the Younger]

How are we going to achieve growth with growing unemployment? Where is the labour to produce this growth going to come from? I don't think the recession is over, I think rich people just feel comfortable with being paid to be rich again.

[Smallc]

I'll say it again. Employment increases won't happen until some time after growth resumes. That's just the way things work.

[Shady]

I'll say it again. Employment increases won't happen until some time after growth resumes. That's just the way things work.

Yes, you're exactly right. Recessions are often over as employment lags behind.

[Mr.Canada]

I'll say it again. Employment increases won't happen until some time after growth resumes. That's just the way things work.

Agreed. It will take time for employment to catch up but Ottawa appears to be on the right track for a change which is reassuring.

[Malaclypse the Younger]

Yes, you're exactly right. Recessions are often over as employment lags behind.

Employment isn't just lagging behind, unemployment is increasing, and is projected to continue to increase. This doesn't make any sense at all. I think these are bullshit figures made up to make people feel comfortable while their lives burn.

[Mr.Canada]

Employment isn't just lagging behind, unemployment is increasing, and is projected to continue to increase. This doesn't make any sense at all. I think these are bullshit figures made up to make people feel comfortable while their lives burn.

Employment doesn't just magically appear out of thin air. There must be sustained development of resources over time then the employment outlook will continue to improve.

Companies need to make money to pay for new employees first. They don't hire then hope that the economy will pick up later. It just doesn't work that way. Unless you work for Mayor Miller then it might...

Edited September 1, 2009 by Mr.Canada

[Shady]

Employment isn't just lagging behind, unemployment is increasing, and is projected to continue to increase. This doesn't make any sense at all.

Yes, unemployment usually increases for a period of time, even though a recession has technically ended. It's always happened, and it makes complete sense if one has a good grasp of how economies work, and how job creation works. Businesses don't tend to rehire and expand on the first sign of growth. They look for a longer period growth than just a few months, and are always cautious.

[Jerry J. Fortin]

Look folks, the reason that they are declaring the recession over is because corporate profits are up. That is the long and the short of it. With less workers you get increased productivity, looks real nice on a graph too. With things like statistics to support your assertions you can go a long ways on very little fuel.

The harsh reality is that job reductions are in fact a part of a recovery plan for business. When you think about it then you can see that this makes sense. Once the process begins economic recovery is on the way, which in turn will bring a return to employment numbers in time.

The whole problem here is that the public perception is what is played upon and manipulated to the advantage of those making the efforts. So the entire process looks bad for government and good for the opposition.