This has been in the news for a while.
I waited to see if anyone would post this out of curiosity but as good news never makes headlines it was not even mentioned.
That's because it isn't news it's pure spin.
The reality is that, just as things could ALL GO BAD at the same time, things can go extremely good all in the same manner.
That's the kind of logic that will eventually empty your accounts.
But we automatically REFUSE to accept that as reality until it has passed.. We much rather believe the negative then the positive.. How human of most of us.
In case you've been on an extended vacation to some other planet in your imaginary world the western capitalist civilization is in deepening inescapeable crisis which it cannot possibly survive as we now know it, it is thought very likely that we will be compelled to global war. Indeed Canadians are already there ready to advance more blood and bones in defence of internation bankers.
Quote: OTTAWA — For months, the global downturn has been compared to the worst economic slumps of the past century: Japan's lost decade, the drawn-out recession of 1982 and even the Great Depression.
Now, with a forecast for 2010 that sees Canada's economy growing at a blistering, almost 5-per-cent clip for much of year and averaging a healthy 3.8 per cent for the year, Bank of Canada Governor Mark Carney is calling into question the widely accepted view that recovery will take many quarters of sluggish growth.
Mr. Carney's forecast for a dramatic economic rebound in Canada next year contrasts with the consensus of private sector economists of 2.3-per-cent growth that year and has prompted incredulity among observers.
But that doesn't mean the central bank is wrong, economists said. Rather, it likely means the bank assumes that everything will go right for Canada in the coming year.
The forecast hinges on federal and provincial spending, stimulus packages around the world driving up commodity prices, and credit conditions easing. In addition, the U.S. economy would need to bottom out and start to pick up so that demand for Canadian goods such as cars and lumber improves.
What the banking community assumes publicly is at odds with what they assume privately. Mr Carney often sits on the board of the BIS, his employers. And to be fair the global downturn is referred to in reliable journals as "hyperinflationary great depression", I think.
It's refreshing to run into an idealistic optimist at times but I worry that the country may be lead astray by that type of starry eyed innocence.:smile:
