Bank of Canada: Recession is over

[PDH]

Tim is the Chamberlain-Paper-Waving-"Peace in our time"-predictor of the future.

[Barrister]

By the way that is the Canadian recession, not necessarily the US recession.

True, but I'd think Canadians have been hit by some of the same negative issues that have hit people in the US. But I'll be glad if the Canadian recession is truly winding down, as that shows some positive light over all, I'd think.

Not really.  We didn't have a mousing bubble collapse, and we haven't had any bank failures.  So we're in much better shape than you guys.  Now the collapse of auto manufacturing has hurt parts of Ontario, and falling resource prices have hit some areas (although those having been coming back), but things aren't nearly as bad here as down there.

Besides though merely ending a recession doesn't mean much.  I certainly remember the early 90s.  Sure the recession ended quickly, but we had several years of weak growth after that.

[saskganesh]

the experts are saying that despite the End Being Here, unemployment in Ontario is still predicted to rise further than the current 8.6%.

not much of a recovery. I think they are saying that we are reaching bottom, so therefore its over and we are no longer "officially" receding.

they are also saying to keep up the stimulus spending.

[crazy canuck]

I agree with BB.  The biggest Canadian casualties of US meltdown were the lumber and auto sectors.  The Lumber sector collapsed some time ago and the Canadian economy had time to absorb that hit before the auto sector collapsed.

I am not sure where all the wealth is being generated but I suspect that although China is not the economic engine it once was it is still growing enough to buy up Canadian raw materials to keep our economy in decent shape.  Add to that the fact that our Banks were never at financial risk and we still have credit available for both consumers and business.

If oil prices go up or if we can convince China to build with wood instead of stone and brick (especially in earthquake zones) then the concern will be over worker shortages and inflation.

[crazy canuck]

the experts are saying that despite the End Being Here, unemployment in Ontario is still predicted to rise further than the current 8.6%.

not much of a recovery. I think they are saying that we are reaching bottom, so therefore its over and we are no longer "officially" receding.

they are also saying to keep up the stimulus spending.

I am not sure what Ontario is going to do to replace that auto sector.  There may be the possibility of a population shift to the west if the other resource sectors heat up again.

[jimmy olsen]

Superstitious nonsense.

Bullshit, Mr. Kiss of Death.

Hey, it's not like I'm Valmy.

[Valmy]

Hey, it's not like I'm Vamy.

Mine only works for soccer

[Malthus]

We didn't have a mousing bubble collapse, and we haven't had any bank failures. 

My cat is happy to hear it. 

[BuddhaRhubarb]

phew.gif

[Barrister]

I was wondering when someone would pick up on that typo.   

[The Minsky Moment]

I know the Jays will probably get a decent haul for Halliday, but I think the Bank of Canada is being a little over-optimistic about its impact.

[BuddhaRhubarb]

I know the Jays will probably get a decent haul for Halliday, but I think the Bank of Canada is being a little over-optimistic about its impact.

[Valmy]

I know the Jays will probably get a decent haul for Halliday, but I think the Bank of Canada is being a little over-optimistic about its impact.

They know that Canada will always go as the Jays go.  If they made Cito Gaston Prime Minister Canada would enter a golden age.

[crazy canuck]

I know the Jays will probably get a decent haul for Halliday, but I think the Bank of Canada is being a little over-optimistic about its impact.

The Bank of Canada has been a bit too much of a cheer leader for my liking.  Back in October they were saying Canada would not go into recession and now they are saying we are already out.

[Eddie Teach]

There was some positive news last week though, I'm optimistic.

Oh for fucks sake! I was also hoping for the recovery, but now it has become Tim-tainted.

Tim is always optimistic, so by this line of reasoning we are in a never-ending downward spiral.