Canada's Economy gets Downgraded
- Thread starter mentalfloss
- Start date
That's it, eh? They make a few cars in Ontario and pump ALL THE REST OF THE COUNTRY'S MONEY out the the ground around Leduc.
Sure hope that your "finish high school diploma course on line" is coming along.
Alberta's still has oil.. what does Ontario have again?? Oh yeah Winnie the Poo
Ontario's economy has been in the toilet long before the Oil Price drop.. but hey, that doesn't just hurt Alberta.. it hurts all of Canada..
You ready for Canada's recession?? Obama lifted sanctions on Iran, and when Iranian oil hits the market..
The Canadian Dollar is already down 25 cents to the USD. Wait till it hits 30 cents and food, clothing, cost of living sky rockets in Canada..
Ontario will be hit the hardest.. it has interest to pay on it's debt.
I didn't shift it there
but
Like it or not, 1/3rd of all Canadians live on that little peninsula surrounded by Lakes Ontario, Erie and Huron.
You might not consider therm to be REAL Canadians because you don't happen to live there, yourself but any discussion about the CANADIAN economy, must also include that 1/3 of the country.
By the way, at the southwestern end of that peninsula is the country's oldest oilfield (still producing) and quite a bit of gas from under Lake Erie. They didn't name that town " Petrolia " because of all of the gas stations on the strip.
Clearly, you are nowhere near the place or you would realise that you are blathering complete nonsense.
You should hop in the pickup and visit the big city, someday!
Near what place?? ONterrible?
Born there, from there.. don't wanna go back. Thanks.
How about you address the underlying issues here Flossie.... Where is all of the bennies to Canadians now that we have a weak dollar and the price of oil is low.
Fact is this, much like your misguided ideas on AGW, your theories on the Cdn economy and resource development is azz-backwards once again.
Lemme repost the graphic Boomer offered.... Got any comments on this?
Negative GDP means nothing.
You heard it here first folks.
2 negative quarters don't make a recession either.
The conbot salty denial is staggering.
And the liberal lemmings will go over the cliff cheering for the muffy....
don't forget the ladders.....
Lol
At this point you can't even get upset at the denial.
Canada's economy 'dead in the water,' headed toward recession
Canada's economy shrank in the first quarter by a whopping 0.6 per cent. So far, everybody is afraid of asking the most obvious question: is this the beginning of a new recession?
Recessions are defined as two consecutive quarters of negative growth. Recently, we learned from Statistics Canada that Canada's economy shrank between January and March, the biggest decline in GDP since 2009, and the first contraction in the last four years.
In fact, the economy contracted in all three months. It is even more dramatic when you think that the fourth quarter (Q4) of 2014 registered a growth of 2.4 per cent! In fact, it is the first time growth in GDP fell below zero since the Q4 of 2011, and the single biggest slide into negative territory since the second quarter of 2009.
Yet another recession
Of course, we don't know yet if this trend continued into April and May, but if it has, as we should find out soon enough, it raises the prospect that we are heading for a yet another recession, and that Canada's economy is not immune to the turmoil facing many countries.
Given the problems the rest of the world is having, who knows what this potential recession will look like. The Organisation for Economic Co-operation and Development (OECD) has downgraded Canada's growth prospects, and is giving the world economy barely a passing grade. Translation: we are heading towards troubled waters.
Taking a closer look at the statistics, we see that private sector investment declined dramatically as a result of the oil crisis, and that is certainly having repercussions in other sectors. Consumers are slowing their spending dramatically (slowest level since 2009) and governments are cutting spending as well.
Do you see where I am going with this? Where is the growth going to come from in the coming months? No one is currently spending, and that leaves only exports as a possible way out.
Well, we also recently learned that the U.S. economy has also shrunk in the first quarter, by 0.7 per cent. This was revised downward from a previously-reported gain of 0.2 per cent. With the economy south of the border contracting as well, our exports should also fall.
Economy dead in the water
There are no two ways about it: our economy is dead in the water.
The recent Stats Canada news is even more startling for two reasons.
First, recall that just last week, the Bank of Canada told us that Canada's economy had stalled and registered zero growth. Now we learn that the reality is actually worse. This is closer in tone to Governor Poloz' recent comment about Canada's economy being "atrocious."
The Bank told us as well that Canada's economy would rebound in the second quarter to 1.8 per cent, then to 2.8 per cent in the third quarter and 2½ per cent in the fourth quarter. These numbers are increasingly looking like pie in the economic sky. These new numbers will probably lead to a decline in interest rates in July.
Second, most economists were expecting bad news, but not this bad. In fact, in a survey done by Bloomberg, the consensus among economists was for a small but positive growth of about 0.3 per cent. The latest figures, however, are sure to force many economists to rethink the path of Canada's economy in the near and not-so-distant future.
http://www.cbc.ca/m/news/canada/man...n-the-water-headed-toward-recession-1.3099645
At this point you can't even get upset at the denial.
Canada's economy 'dead in the water,' headed toward recession
Canada's economy shrank in the first quarter by a whopping 0.6 per cent. So far, everybody is afraid of asking the most obvious question: is this the beginning of a new recession?
Recessions are defined as two consecutive quarters of negative growth. Recently, we learned from Statistics Canada that Canada's economy shrank between January and March, the biggest decline in GDP since 2009, and the first contraction in the last four years.
In fact, the economy contracted in all three months. It is even more dramatic when you think that the fourth quarter (Q4) of 2014 registered a growth of 2.4 per cent! In fact, it is the first time growth in GDP fell below zero since the Q4 of 2011, and the single biggest slide into negative territory since the second quarter of 2009.
Yet another recession
Of course, we don't know yet if this trend continued into April and May, but if it has, as we should find out soon enough, it raises the prospect that we are heading for a yet another recession, and that Canada's economy is not immune to the turmoil facing many countries.
Given the problems the rest of the world is having, who knows what this potential recession will look like. The Organisation for Economic Co-operation and Development (OECD) has downgraded Canada's growth prospects, and is giving the world economy barely a passing grade. Translation: we are heading towards troubled waters.
Taking a closer look at the statistics, we see that private sector investment declined dramatically as a result of the oil crisis, and that is certainly having repercussions in other sectors. Consumers are slowing their spending dramatically (slowest level since 2009) and governments are cutting spending as well.
Do you see where I am going with this? Where is the growth going to come from in the coming months? No one is currently spending, and that leaves only exports as a possible way out.
Well, we also recently learned that the U.S. economy has also shrunk in the first quarter, by 0.7 per cent. This was revised downward from a previously-reported gain of 0.2 per cent. With the economy south of the border contracting as well, our exports should also fall.
Economy dead in the water
There are no two ways about it: our economy is dead in the water.
The recent Stats Canada news is even more startling for two reasons.
First, recall that just last week, the Bank of Canada told us that Canada's economy had stalled and registered zero growth. Now we learn that the reality is actually worse. This is closer in tone to Governor Poloz' recent comment about Canada's economy being "atrocious."
The Bank told us as well that Canada's economy would rebound in the second quarter to 1.8 per cent, then to 2.8 per cent in the third quarter and 2½ per cent in the fourth quarter. These numbers are increasingly looking like pie in the economic sky. These new numbers will probably lead to a decline in interest rates in July.
Second, most economists were expecting bad news, but not this bad. In fact, in a survey done by Bloomberg, the consensus among economists was for a small but positive growth of about 0.3 per cent. The latest figures, however, are sure to force many economists to rethink the path of Canada's economy in the near and not-so-distant future.
http://www.cbc.ca/m/news/canada/man...n-the-water-headed-toward-recession-1.3099645
keep dodging the question.
Talk about deflecting
I weep for the children
When the economy is doing well, it's because of the feds.
When the economy is doing poorly, it's because of Ontario.
Conbot logic.
When the economy is doing poorly, it's because of Ontario.
Conbot logic.
You are the one claiming that this dip in the economy is Ontario's fault, when that province's GDP is currently leading this country while the national GDP is negative and heading toward recession.
Daily Exchange - Posting
Gotta love your denial though.
Keep it up son.
Daily Exchange - Posting
Gotta love your denial though.
Keep it up son.